Red Hat Inc. (RHT) is a provider of open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, middleware, storage and cloud technologies. The stock is currently trading around $78.22 at the upper end of its 52 week range of $52.16-$79.35. The stock has been outperforming the market this year rallying 13.28% year to date. RHT is scheduled to report earnings after the closing bell today, and the stock is fairly flat moving down only $0.09 or 0.12% on the session ahead of the close.

Over the past 12 quarters RHT has rallied on earnings day 6 times with an average move of 7.32%. The stock appears bullish on a chart going into the release having traded above the Ichimoku Cloud for the past few months on the daily bars. Over the past 12 quarters RHT has rallied from earnings to the nearest options expiration 5 times with an average move of 8.11%. The stock looks as if it could reverse its trend and rip to the upside further in today’s session. Investors are mainly looking to see if the recent gain of market share will raise revenue. Linux servers are well positioned to compete with Microsoft’s Windows servers and leads investors to expect long term growth. They have also sacrificed service revenue to increase subscription revenue again targeting earnings in the long-run but may hurt earnings in the next couple of quarters.

The options market is currently implying a move of around $5.65 or 7.2% in RHT by this Friday’s close giving us targets of $83.87 and $72.57.

KB Home. (KBH) is a homebuilding company that constructs and sells homes through its five operating segments, four of which are homebuilding segments and one financial services segment. The stock is currently trading around $14.91 at the middle of its 52 week range of $11.76-$18.98. The stock has been underperforming the market this year falling 9.85% year to date. KBH is scheduled to report earnings before the opening bell tomorrow, and the stock is up today roughly $0.05 or 0.34% on the session ahead of the close.

Over the past 11 quarters KBH has rallied on earnings day 6 times with an average move of 7.59%. The stock appears bullish on chart going into the release having traded above the Ichimoku Cloud for the past month on the daily bars. Over the past 11 quarters KBH has rallied from earnings to the nearest options expiration 6 times with an average move of 8.72%. The stock looks as if it could reverse its recent trend and rip to the upside in today’s session. Investors are mainly looking to see how recent strategies to boost revenue per community and per unit will fare. Also, the company has strived to build homes in a mix of geographic locations. Lastly, favorable macro-economic conditions is fueling price increases.

The options market is currently implying a move of around $0.89 or 6.00% in KBH by this Friday’s close giving us targets of $15.80 and $14.02.

CarMax, Inc. (KMX) is a holding company engaged in providing used vehicles, related products and services through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The stock is currently trading around $72.47 at the upper end of its 52 week range of $43.27-$75.40. The stock has been outperforming the market this year rallying 8.8% year to date. KMX is scheduled to report earnings before the opening bell tomorrow, and the stock is up today slightly moving $0.24 or %0.33 on the session ahead of the close.

Over the past 12 quarters KMX has rallied on earnings day 5 times with an average move of 8.05%. The stock appears bullish on chart going into the release having traded above the Ichimoku Cloud for the past couple months on the daily bars. The Ichimoku Cloud continues to maintain the bullish trend for the upcoming trading periods. Over the past 12 quarters KMX has rallied from earnings to the nearest options expiration 6 times with an average move of 7.00%. The stock looks as if it could continue its trend and rip to the upside further in today’s session. Investors are mainly looking to see large growth numbers. The company orientates itself around growth and continuously reports industry average crushing numbers in EPS, and cash flow. Positive revision estimates have been seen as well.

The options market is currently implying a move of around $4.55 or 6.3% in KMX by this Friday’s close giving us targets of $77.02 and $67.92.

Pier 1 Imports Inc. (PIR) is a global importer of home décor and furniture operating through retail stores and an e-commerce website conducting business under the name Pier 1 Imports. The stock is currently trading around $12.13 at the upper end of its 52 week range of $11.38-$18.45. The stock has been underperforming the market this year falling 21.36% year to date. PIR is scheduled to report earnings after the closing bell today, and the stock is fairly flat moving only $0.02 down on the session ahead of the close.

Over the past 12 quarters PIR has rallied on earnings day 6 times with an average move of 7.32%. The stock appears bearish on chart going into the release having traded below the Ichimoku Cloud for the past couple month on the daily bars. Over the past 12 quarters PIR has rallied from earnings to the nearest options expiration 5 times with an average move of 7.48%. The stock looks as if it could continue its trend and lower further in today’s session. Investors are mainly looking to see strong macroeconomic data implies strong revenue growth for the company. Furniture and Home Furnishings Store Sales economic data has shown healthy gains in the Home Goods retail space over the past 5 years with Pier 1’s revenue growth outpace the market by roughly 2x.

The options market is currently implying a move of around $1.30 or 10.7% in PIR by this Friday’s close giving us targets of $13.43 and $10.83.

Kroger Co. (KR) operates retail food and drug stores, multi-department stores, jewelry stores, and convenience stores throughout the United States. The stock is currently trading around $73.01 at the upper end of its 52 week range of $46.77-$77.74. The stock has been outperforming the market this year rallying 13.49% year to date. KR is scheduled to report earnings before the opening bell tomorrow, and the stock is higher on the session by around $0.67 or 0.93% ahead of the close.

Over the past 12 quarters KR has rallied on earnings day 8 times with an average move of 3.60%. The stock appears bearish on chart going into the release having broken through the Ichimoku Cloud in the past week. Over the past 12 quarters KR has rallied from earnings to the nearest options expiration 10 times with an average move of 5.48%. The stock looks as if it could continue its trend and rip to the upside further in today’s session. Investors are seeing favorable earnings estimate revisions as of late which is typically a precursor for strong earnings. Other than the revisions, due to warmer weather investors expect revenue to increase due to a greater number of consumers visiting stores operated by Kroger Co. and spending money.

The options market is currently implying a move of around $2.80 or 3.80% in KR by this Friday’s close giving us targets of $75.75 and $70.15.

Oracle Corporation (ORCL) is a provider of enterprise software and computer hardware products and services including database and middleware software, application software, cloud infrastructure, and networking products. The stock is currently trading around $44.68 at the upper end of its 52 week range of $35.82-$46.71. The stock has been underperforming the market this year lowering by 0.64% year to date. ORCL is scheduled to report earnings after the closing bell today, and the stock is slightly higher on the session by around $0.03 or 0.07% ahead of the close.

Over the past 12 quarters ORCL has rallied on earnings day 7 times with an average move of 5.16%. The stock appears bearish on chart going into the release having traded above the Ichimoku Cloud for the past month on the daily bars. Over the past 12 quarters ORCL has rallied from earnings to the nearest options expiration 6 times with an average move of 5.36%. The stock looks as if it could continue its trend and rip to the upside further in today’s session. Investors are mainly looking to see the growth of SaaS, PaaS and Big Data as well as increased revenue from cloud subscriptions. The revenue from cloud subscribers has been lagging in the past.

The options market is currently implying a move of around $1.75 or 3.9% in ORCL by this Friday’s close giving us targets of $46.43 and $42.93.

Adobe Systems Inc. (ADBE) is a software company offering products and services for professionals, marketers, app developers, enterprises and consumers. The stock is currently trading around $79.27 at the upper end of its 52 week range of $58.51-$80.74. The stock has been outperforming the market this year rallying 9.13% year to date. ADBE is scheduled to report earnings after the closing bell today, and the stock is higher on the session by around $0.35 or 0.44% ahead of the close.

Over the past 12 quarters ADBE has rallied on earnings day 8 times with an average move of 5.47%. The stock appears bearish on chart going into the release having traded above the Ichimoku Cloud for the past month on the daily bars. Over the past 12 quarters ADBE has rallied from earnings to the nearest options expiration 8 times with an average move of 5.28%. The stock looks as if it could continue its trend and rip to the upside further in today’s session. Investors are mainly looking to see Adobe’s Creative Cloud subscriber numbers increasing as well as how the adoption of the company’s marketing cloud and strong growth strategies will fare. Other investors worry weak global economic conditions could lower demand and impact earnings negatively.

The options market is currently implying a move of around $4.24 or 5.3% in ADBE by this Friday’s close giving us targets of $83.51 and $75.03.

The third week of June starts on Monday with the Empire State Mfg Survey at 8:30 AM ET covering a survey of manufacturers in New York State in various industries to report the change in a variety of indicators. Following this release is the Industrial Production at 9:30 AM ET to report capacity indexes and capacity utilization rates covering manufacturing, mining, and electric and gas utilities. Later on in the day is the Housing Market Index to report upon respondents’ rating of the general economy and housing market condition. Following the closing bell to be reported is the Treasury International Capital Report which is a tracking of the flow of financial instrument in and out of the US.

On Tuesday, only one announcement is to be reported an hour before the opening bell. This announcement is called the Housing Starts report, and covers the start of construction on new residential buildings. This is a major indicator because it is a powerful multiplier in the economy that causes a ripple effect among various sectors of the market.

Wednesday has three releases to watch out for beginning with the FOMC Meeting Announcement at 2 PM ET. The Federal Open Market Committee is the group who is in charge of writing the policies governing the Federal Reserve and determines the short-term interest rates in the U.S. Half an hour after this report will be the Fed Chair Press Conference and the FOMC Forecasts. The Fed Chair Press Conference is held to report quarterly economic projections. Immediately after this release is the FOMC Forecast Announcement which is simply the release of the economy’s projections.

Thursday has quite a few reports to be released throughout the day. First will be the Jobless Claims numbers at 8:30AM ET enlightening the public on unemployment claims over the past week. Following immediately after this report is the Consumer Price Index indicating the change in price level of a basket of goods or commonly known as inflation. At 10AM ET will be the Philadelphia Fed Business Outlook Survey covering a diffusion index of manufacturing conditions within the Philadelphia Federal Reserve district. Most investors watch this carefully because this indicator dictates how various investments will perform.

The last day of the trading week, Friday, has two speakers named John Williams and Loretta Mester speaking at 11:40 AM ET and 12:15 PM ET respectively. John Williams is the President of the San Francisco Federal Reserve Bank and Loretta Mester serves as the President of the Cleveland Federal Reserve Bank. This concludes the announcements and reports for this week.

Key Earnings Reports Next Week

• After the Bell on Tuesday | Adobe Systems Inc. (ADBE)
• After the Bell on Tuesday | La-Z-Boy Inc. (LZB)
• After the Bell on Wednesday | FedEx Corp (FDX)
• After the Bell on Wednesday | Oracle Corp (ORCL)

Men’s Wearhouse Inc. (MW) is known for being a specialty retailer of men’s suits and a provider of tuxedo rental products in the United States and Canada. The stock is currently trading around $58.32 at the upper end of its 52 week range of $39.77-$60.67. The stock has been outperforming the market this year rallying 31.62% year to date. MW is scheduled to report earnings after the closing bell today, and the stock is lower on the session by around $0.15 or 0.26% ahead of the close.

Over the past 12 quarters MW has rallied on earnings day 7 times with an average move of 8.69%. The stock appears bearish on a chart going into the release having traded below the Ichimoku Cloud on intraday time frames where it is trading in or below the cloud on the 5 min bar. Over the past 12 quarters MW has rallied from earnings to the nearest options expiration 5 times with an average move of 8.84%. The stock looks as if it could continue its trend and drop to the downside further in today’s session. Investors are mainly looking to see how the new Chief Digital Officer will grow sales. Ben Baum has launched a new e-commerce initiative to take tailoring online in hopes of raising sales.

The options market is currently implying a move of around $3.75 or 6.4% in MW by this Friday’s close giving us targets of $62.07 and $54.57.