In "What's Ahead on Wall Street" for Wednesday, Feb. 24, we'll have several retailers and a major cloud computing company releasing earnings.
When Salesforce.com releases its fourth quarter results, analysts are looking for a profit of $0.19 a share on revenue of under $2 billion. Both the top and bottom line are projected to grow year-over-year. Analysts are bullish ahead of earnings as they expect diverse cloud offerings and spending on digital marketing to be catalysts.
Benjamin Stoto, director of research for CNBC's "Mad Money," said, "Investors are looking forward to this earnings report because it should give the company a chance to trade on its own merits once again.
"It reached an all-time high after its previous earnings report but it's been slammed -- down almost 25% because a number of other high-growth tech stocks have underperformed.
"We'll also be watching billings and bookings growth. Last quarter, both came in above 20%. If they can do that again, the stock should be able to regain some momentum."
On the economic calendar, we'll see MBA mortgage application numbers in the morning and Richmond Fed chief Jeffrey Lacker will speak in Baltimore. Later in the morning we'll get new home sales and the weekly oil inventory data.