Hewlett-Packard (HPQ): Reduced YoY comparisons are a result of the spinout of HP and its enterprises segment. HP will continue to sell PCs and printers while HPE undertakes computer systems, software and tech services. HP has seen a steady decline in its printer and PC business thanks to waning demand for personal computers and tepid IT spending. Last quarter revenue from printer sales declined 16% on a year over year basis. The company announced a one time investment to reduce the level of its printing supplies as its changes its strategy. Despite some near term headwinds the stock is up 21% year to date and 15% in the past 12 months. Historically, shares make their biggest gains 30 days following an earnings report.

Workday (WDAY): Ahead of its report, Needham downgraded Workday from buy to hold citing increased competition and limited upside in billings. Workday is coming off a better than expected first quarter that delivered a 350% increase on the bottom line and 38% on the top. While 38% revenue gains are impressive, it is also a marked slowdown from previous quarters. A year earlier the company was consistently delivering sales growth over 50%. These growing pains are likely to continue through the maturation process. Shareholders have already seen it take a small toll on the stock which is now down year to date.

Williams-Sonoma (WSM): A broader shift toward discounters and value channels can be largely credited with William Sonoma’s downturn. The company’s namesake brand, West Elm and Pottery Barn all cater to high end customers. This simply isn’t translating in the current economic environment. The stock is down nearly 8% year to date and a resounding 37% in the past 12 months. Fortunately, the broader housing recovery and surge in the retail sectors could put William Sonoma in a position to surprise investors tomorrow. Downward revisions activity in the last month and decelerating growth projects would suggest otherwise though. 

Guess? (GES): The recent bounce-back in retail apparel this season bodes well for Guess heading into its report tomorrow afternoon. This is one of the most beaten down companies that could really use a bounce back quarter. Last quarter, GES printed a 675% decline on the bottom line couple with a 6% contraction in revenue. While Guess has made strides in its omni channel strategy, it is still no competition for Amazon or other major online retailers. Strong growth here is unlikely to offset any of its in store losses which will support weaker comps. However, as we have seen this season, even the smallest surprise could send this stock soaring.

PVH Corp (PVH): Solid performance from its Calvin Klein and Tommy Hilfiger brands have helped the company deliver modest gains amid weak retail spending. Last week Deutsche banked increased it price target on shares to $117 and reiterated its buy rating. Ongoing investments in top brands and a focus on global expansion should continue to drive revenue growth. However ,currency headwinds, volatility in consumer spending, increased promotional activity and potential Brexit complications could pressure profitability in future quarters.