The Fool Looks Ahead
Aug 24th 2013 7:30AM
Updated Aug 24th 2013 7:32AM
There's never a dull week on Wall Street. Let's go over some of the news that will shape the week to come.
The first trading day of the week kicks off with Qihoo 360 reporting quarterly results. The fast-growing Internet company is behind China's leading Web browser and security software suite. Qihoo also rolled out a surprisingly successful search engine last summer, and now Qihoo is starting to sell ads to cash in on the platform's popularity.
Investors will have to get up early to hear Qihoo's conference call to discuss its financials two hours before Wall Street opens, but that will already be nighttime in China.
One of last year's hottest IPOs was Workday , and it gets a chance to justify its big gains on Tuesday. Investors can sleep in on this one. The provider of cloud-based enterprise solutions for human resources and finance reports after the market close.
Workday has nearly tripled since going public 10 months ago at $28. Despite the pop, Workday is still a few years away from profitability. However, with the pros targeting 60% top-line growth for the quarter and 61% growth for the year, it's hard to resist Workday's appeal.
Seadrill hopes to fuel the market on Wednesday. The offshore drilling specialist is coming off its best operating quarterly result in company history, and it hopes to top that showing this time around.
Seadrill is a big draw for income investors, given its current 8.1% yield, but payouts are only as secure as a company's ability to sustain its distributions. It's on that front that it bears pointing out that analysts see profitability declining at Seadrill for the quarter, though those same pros see healthy bottom-line growth for the entire year.
OmniVision Technologies makes image sensors. This became a big industry when smartphone makers began to outdo one another by offering better-quality cameras in their devices. Things were going well, but then heightened competition and cutthroat pricing saw OmniVision lose sight of the prize.
Things are going better these days, and the market expects profitability to more than double this quarter. Let's see if it smiles for the camera on Thursday.
The market will be quiet on Friday as traders prepare for the holiday weekend, but a few companies will still be reporting.
Frontline wraps up the trading week with its financial results. Analysts see another quarterly loss out of the oil tanker operator. Frontline is still trying to battle back to breakeven, but that will take some time. Analysts don't see the company turning a profit until 2016 at the earliest.
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The article The Fool Looks Ahead originally appeared on Fool.com.Longtime Fool contributor Rick Munarriz has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Seadrill. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.