Nvidia, Walmart, And Deere Report Quarterly Results Next Week

Summary:

Get ahead of the market by subscribing to Seeking Alpha’s Wall Street Week Ahead, a preview of key events scheduled for the coming week. The newsletter keeps you informed of the biggest stories set to make headlines, including upcoming IPOs, investor days, earnings reports, and conference presentations.

A chunk of the spotlight next week will be dominated by Nvidia (NASDAQ:NVDA), as the world’s largest publicly listed company by market cap gears up for its fiscal third quarter results scheduled on Wednesday. The chipmaker has continuously delivered blowout numbers since the artificial intelligence (AI) boom amid soaring demand for its chips that can power complex AI processes, and its quarterly reports have become market-moving events. Aside from Nvidia (NVDA), investors will also get an idea on the state of the consumer from retail giants Walmart (NYSE:WMT) and Target’s (NYSE:TGT) earnings.

The economic calendar is fairly light next week. Market participants will receive updates on the housing market, along with initial jobless claims. Flash PMI readings on manufacturing and the services sector will grab attention on Friday. There are several Federal Reserve officials that will be giving speeches, and their comments will be parsed after recent data and comments from chair Jerome Powell has caused a reassessment of the central bank’s pace of interest rate cuts.

In terms of geopolitics, U.S. President Joe Biden will meet with Chinese President Xi Jinping at the Asia-Pacific Economic Cooperation Summit in Peru, in what will be the third in-person meeting between the two leaders since Biden came into office and their final meeting as presidents. With Donald Trump set to return to the White House for a second term, the relationship between the world’s two largest economies will be back in the spotlight amid promises of tariffs.

Earnings spotlight: Monday, November 18 – Trip.com Group (TCOM), Symbotic (SYM), AECOM (ACM), BellRing Brands (BRBR), and Brady Corp. (BRC). See the full earnings calendar.

Earnings spotlight: Tuesday, November 19 – Walmart (WMT), Lowe’s (NYSE:LOW), Medtronic (MDT), Keysight Technologies (KEYS), and Viking Holdings (VIK). See the full earnings calendar.

Earnings spotlight: Wednesday, November 20 – NVIDIA (NVDA), TJX (TJX), Palo Alto Networks (PANW), Target (TGT), and Snowflake (SNOW). See the full earnings calendar.

Earnings spotlight: Thursday, November 21 – Intuit (INTU), Deere & Company (NYSE:DE), Ross Stores (ROST), Construction Partners (ROAD), NetApp (NTAP), and BJ’s Wholesale Club Holdings (BJ). See the full earnings calendar.

Earnings spotlight: Friday, November 22 – The Buckle (BKE), and Global Blue Group Holding (GB). See the full earnings calendar.

Volatility watch: Spirit Airlines (NYSE:SAVE) heads the list of options trading with high implied volatility amid bankruptcy speculation. The most overbought stocks per their 14-day relative strength index include BILL Holdings Inc (BILL), Innodata (INOD), and Athena Bitcoin Global (OTCPK:ABIT). The most oversold stocks per their 14-day Relative Strength Index include Ardmore Shipping (ASC), TORM (TRMD), Scorpio Tankers (STNG). Short interest is elevated on MicroVision (MVIS) and FuelCell Energy (FCEL).

IPO watch: Consumer electronic device reseller Creative Global Technology (CGTH), miner Brazil Potash (GRO), and Singapore-based swimming lessons provider Fitness Champs (FCHL) are expected to price their IPOs and start trading in the week ahead. Companies whose IPO lockup periods will expire include Kayne Anderson BDC (KBDC), KinderCare Learning Companies (KLC) and LATAM Airlines (LTM).

Dividend watch: Companies that have an ex-dividend date coming next week include Chevron (CVX), Amgen (AMGN), United Parcel Service (UPS), Target (TGT), and Microsoft (NASDAQ:MSFT). Companies forecast to increase their quarterly dividend payouts include AECOM (ACM) to $0.24 from $0.22, Dolby Laboratories (NYSE:DLB) to $0.32 from $0.30, and Matthews International (MATW) to $0.25 from $0.24. Read through some of the dividend stock picks from Seeking Alpha analysts.

Investor events: There are some notable conferences scheduled for next week, including the two-day Stifel Healthcare Conference, the three-day Microsoft Ignite Conference, the Barclays Global Automotive and Mobility Tech Conference, the Southwest IDEAS Investor Conference, and the Los Angeles Auto Show. There are several high-profile companies holding Investor Days as well, including Delta Air Lines (DAL), Procter & Gamble (PG) and GE HealthCare (GEHC).

Nvidia earnings preview: Nvidia will report earnings on Wednesday. Analysts expect the chip giant to report per-share earnings of $0.74 on revenue of $32.97B. Analysts will be looking for updates on how the company’s Blackwell AI chip sales. “We [continue] to emphasize Blackwell as a significantly more impactful, and still underappreciated, platform cycle for NVDA.” Wells Fargo said in a note earlier this week. The firm added that it is anticipated “modest upside” in Nvidia’s data center of around $30B against the Street’s view for $29.1B.

Walmart earnings preview: Walmart will report earnings on Tuesday. The Street is expecting the retail behemoth to report earnings of $0.53 on revenue of $166.44B. In a note late last month, Wells Fargo said it is expecting “another strong quarter” and a beat and raise for its fiscal Q3. “We see particular upside in the U.S.; we believe WMT continued to take meaningful share as consumers remained focused on value, while hurricane stock up likely provided a benefit,” the firm said. Wells Fargo said it expects some headwind from its Flipkart unit’s Big Billion Days sale, but it still anticipates “solid growth.” Its Sam’s Club membership warehouse is expected to post “strong fuel margins and com/membership momentum.”