Top coronavirus stocks to report, unemployment data due: investing action plan
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Here's your weekly Investing Action Plan: what you need to know as an investor for the coming week. Top coronavirus stocks ZOOM VIDEO (ZM), DOCUSIGN (DOCU) and SLACK TECHNOLOGIES (WORK)
are reporting earnings as people working from home boost demand for their platforms. Chip giant BROADCOM (AVGO) also reports, while a fresh load of unemployment numbers are due. ↑ X NOW
PLAYING Stocks End Wild Week With Solid Gains; Zscaler, Snap, Domino's Strong STOCKS TO WATCH Five top defense-related stocks are in cup-with-handle bases and may be actionable soon.
LOCKHEED MARTIN (LMT) has a 402.55 entry. Shares briefly cleared that level Thursday in low volume but closed below it. NORTHROP GRUMMAN'S (NOC) buy point is 357.22, and L3HARRIS (LHX)
has a 204.23 entry. LEIDOS (LDOS) cleared its 104.73 buy point Friday, ending at 105.29 but volume was average. CACI INTERNATIONAL (CACI) is working on a 259.09 entry. The top-rated stock in
IBD's aerospace/defense group is MERCURY SYSTEMS (MRCY), but its 89.54 buy point failed recently, and the stock will need at least a week before it's in a new base. ZOOM VIDEO
EARNINGS TO SOAR The video calling app developer reports late Tuesday amid high expectations. Analysts see EPS tripling to 9 cents as revenue jumps 81% to $202.4 million. Zoom Video shares,
which went public in April 2019, have doubled so far this year on expectations that business shutdowns caused by the pandemic would drive paid subscriber growth, making it one of the top
coronavirus stocks. In April, Zoom stock popped after the company said its user base topped 300 million. DOCUSIGN REPORTS AFTER ACQUISITION The maker of software that digitizes contract
paperwork reports late Thursday, and EPS is expected to climb 43% to 10 cents as revenue grows 31% to $281 million. DocuSign on Feb. 27 agreed to buy Seal Software for $188 million. The
startup uses artificial intelligence for contract analytics. Shares have surged more than 80% this year as its document-sharing platform can help people working from home. SLACK TECHNOLOGIES
DUE AMID MICROSOFT RIVALRY The maker of workplace collaboration software reports late Thursday and is expected to narrow per-share losses to 6 cents from 7 cents a year earlier, as revenue
grows 39% to $187.7 million. Slack Techologies said it had over 110,000 paid customers, up 25% year-over-year, as of Jan. 31. However, growing competition with MICROSOFT (MSFT) Teams has
been an overhang on Slack stock, which has not rallied as much as other coronavirus stocks despite increase work-from-home demand. BROADCOM EARNINGS SEEN DIPPING AGAIN The chipmaker reports
fiscal Q2 results late Thursday. Analysts expect EPS to dip 1% to $5.14 on sales of $5.69 billion, up 3%. It would mark the third straight quarter of declining earnings on a year-over-year
basis. But Broadcom is seen returning to earnings growth in its fiscal third quarter. Wall Street is modeling Q3 earnings of $5.32 a share, up 3%, on sales of $5.8 billion, up 5%. JOBLESS
RATE TO SOAR BUT SURPRISE POSSIBLE Wall Street expects Friday's jobs report to show employers cut another 8 million jobs in May, on top of April's 20.5 million, as the jobless rate
climbs to 19.5% from 14.7%. That will reveal the depth of the hole the economy has to climb out of to recover. Yet the monthly employment report is typically a lagging indicator. On top of
that, all 50 states have taken steps to reopen their economies. There could be scope for an upside jobs-report surprise. The Labor Department reported that the number of people continuing to
claim jobless benefits tumbled by 3.7 million in the week through May 16. Economists expect the ISM manufacturing survey index out Monday to show a slightly slower pace of contraction in
activity. May auto sales are due to roll in throughout Tuesday. Wall Street expects a partial rebound to nearly an 11 million annual rate, up from April's dismal 8.6 million pace. On
Wednesday, ADP reports private-sector payrolls. BIG DATA STOCKS TO REPORT Open-source database software platform company MONGODB (MDB) reports after the close Thursday. Wall Street looks
per-share losses to widen to 25 cents from 22 cents a year ago, while revenue swells 34% to $119.5 million. But that marks the fourth quarter in a row of top-line deceleration. Big Data
software company CLOUDERA (CLDR) reports after the close Wednesday. The consensus looks for a break-even bottom line vs. a loss of 13 cents a share in the year-ago period. Revenue is
expected to rise 9% to $204.9 million, its slowest growth in more than four years. TOP CYBERSECURITY STOCK TO SHRINK LOSSES CROWDSTRIKE (CRWD) reports late Tuesday, and per-shares losses are
expected to narrow to 6 cents from 11 cents a year earlier as revenue pops 72% to $165.3 million. The company uses artificial intelligence and a specialized database to detect malware on
laptops, mobile phones and other devices that access corporate networks. Shares, which went public in June 2019, have nearly doubled this year. OTHER EARNINGS HEALTHEQUITY (HQY) reports late
Tuesday, and the health savings account custodian's EPS is seen rising 7% to 44 cents as revenue pops 121% to $192 million. CIENA (CIEN) reports fiscal Q2 earnings early Thursday, and
the optical communications gear maker's EPS is expected to rise 2% to 49 cents as revenue increases 2% to $880.3 million. YOU MAY ALSO LIKE: Why Tech Companies Keep Giving CEOs
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