What's Ahead Tuesday: Will Etsy Deliver on Revenue Growth?
In "What's Ahead on Wall Street" for Tuesday, May 3, several companies will be releasing their financial reports. In the morning, investors will hear from CVS Health (CVS) - Get Report , Pfizer (PFE) - Get Report , HSBC (HSBC) - Get Report and Sprint (S) - Get Report . In the afternoon, ETSY (ETSY) - Get Report and CBS (CBS) - Get Report will post their latest quarterly results.
Many investors will be focusing on Etsy when the online marketplace for handmade goods reports results for the first quarter. Wall Street expects a loss of $0.02 a share on revenue of over $75 million. Year over year, both the top and bottom line are projected to improve.
The company recently launched a new product called Pattern, a service that offers customizable websites for Etsy sellers. This could add a revenue stream for the company. But ongoing risks include competition from its rivals and concerns about its sluggish growth.
On the economic calendar, investors will be watching as automakers report April sales. Cleveland Fed head Loretta Mester is speaking in Florida in the early morning, followed by Atlanta Fed head Dennis Lockhart later that night.
TheStreet's U-Jin Lee reports from Wall Street.
