Wall Street posted its worst week since early October on Friday, as Nvidia’s (NVDA) blowout quarterly results failed to lift the artificial intelligence trade and U.S. economic data presented a difficult situation for the Federal Reserve. The benchmark S&P 500 index posted a four-day losing streak on Tuesday for the first time since August. Meanwhile, Thursday’s session saw a historic reversal in sentiment: the tech-heavy Nasdaq Composite roared out of the gates at the open, only to eventually slide deep into the red by the close.
For the week, the S&P slipped -2.0%, while the blue-chip Dow declined -1.9%. The tech-heavy Nasdaq Composite retreated -2.7%.
Earnings Roundup:
Out of the 13 S&P 500 companies that reported earnings this week, 12 of them surpassed EPS expectations, 1 of them missed estimates.
In terms of top-line, ten companies beat revenue expectations, and three names trailed estimates.
Source: Seeking Alpha
Let’s take a look at some of the companies that reported earnings this week:
Nvidia (NVDA) shares rose 5% in extended trading on Wednesday, lifting other tech stocks higher, after the semiconductor giant posted third-quarter results and guidance that were above Wall Street’s forecast amid insatiable demand for artificial intelligence processors. However, stock responses became mixed by noon trading, with most trending lower.
Walmart shares closed 6% higher Thursday after the retail giant raised FY26 guidance. Comparable sales in the U.S. rose 4.5% to top the consensus estimate of 4.0%. Looking ahead, Walmart (WMT) guided for FY26 of $2.58 to $2.63 (midpoint $2.605), up from prior guidance of $2.52 to $2.62 and in-line with the $2.61 consensus mark.
Home Depot (HD) fell 6% Tuesday after comparable sales increased by 0.2% which missed the consensus expectation for a rise of 1.4%.
Target (TGT) slipped 3% after the retailer lowered its FY25 mid-point guidance to $7.50 from $8.00 earlier. The company sees full-year adjusted EPS of about $7 to $8 (midpoint $7.50) vs. the prior outlook for $7 to $9 and consensus estimate of $7.24.
Palo Alto Networks (PANW) dropped 7% after Q1 results declared mixed guidance. Looking ahead, Palo Alto projects second-quarter revenue to range from $2.57B to $2.59B, with a midpoint directly in line with the $2.58B estimate. The company expects adjusted EPS to range from $0.93 to $0.95 versus the $0.93 estimate. For the entirety of 2026, Palo Alto increased its revenue forecast to range from $10.5B to $10.54B versus the estimate of $10.51B.
Earnings next week:
The upcoming week will be tech-heavy, with 7 of the 11 reporting companies coming from the technology sector, led by Dell (DELL), HP (HPQ), and Workday (WDAY). Companies outside the tech sector set to report include Deere & Company (DE), Best Buy (BBY), and Agilent Technologies (A).