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This Week: Walmart, Deere results, existing home sales

May 18, 2020 GMT

A look at some of the key business events and economic indicators upcoming this week:

COVID-19 WINDFALL?

Walmart serves up its first-quarter results Tuesday.

Analysts predict the retail giant will report flat earnings for the February-April period versus a year earlier and higher revenue. Americans flocked to Walmart and other big retailers for groceries and other household staples due to stay-at-home orders aimed at stopping the coronavirus outbreak.

SLOWING HOME SALES

Economists project that sales of previously occupied homes fell for the second-straight month in April.

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Sales cratered 8.5% in March to a seasonally adjusted annual rate of 5.27 million homes as the coronavirus outbreak put a damper on the market in the midst of the traditionally busy spring homebuying season. The National Association of Realtors is expected to report Thursday that the pace of sales slowed to 4.3 million homes in April.

Existing home sales, in millions, seasonally adjusted annual rate:

Nov. 5.32

Dec. 5.53

Jan. 5.42

Feb. 5.76

March 5.27

April (est.) 4.30

Source: FactSet

NOT DIGGIN’ THIS

Wall Street expects a downbeat quarterly report card from Deere & Co.

Analysts predict the tractor and construction equipment maker will report Friday that its fiscal second-quarter earnings and revenue declined from a year earlier. That would follow a surprisingly strong first quarter for Deere which spent much of last year bruised by a trade conflict between the U.S. and China.

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