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Pre-market futures are mostly higher at this hour, although off the peaks of roughly an hour before the opening bell. All major indexes are still in the red over the past five trading days, but remain in the green over the past month.
The Dow is +85 points higher presently, +0.20%, and leads the way among major indexes. The S&P 500 and Nasdaq are +0.11% and +0.15%, while the small-cap Russell 2000 is down -2 points, -0.12%. But the decreases are pretty steep; we wouldn’t be surprised to see a negative open from this trajectory.
Target Misses, TJX Companies Beats in Q3
Ahead of today’s open, two big-box retailers have released October-quarter financials, with differing results. Both Target (TGT - Free Report) and The TJX Companies (TJX - Free Report) carried Zacks Rank #3 (Hold) ratings into this morning’s report. Interestingly, TJX — with its TJ Maxx, Marshall’s, Home Goods and International brands — is nearly twice the size of Target by market cap.
Target missed on both top and bottom lines this morning, with earnings of $1,85 per share -19% lower than the $2.29 expected and $2.10 per share reported in the year-ago quarter. Revenues of $25.67 billion missed the $25.91 billion analysts were looking for. Digital comps were up a healthy +10.8%, but Gross Margins were -0.2% year over year. Shares are now negative year-to-date, -18% in today’s pre-market.
Meanwhile, TJX Companies outperformed on its bottom line by 5 cents to $1.14 per share on $14.06 billion in revenues, which outpaced expectations of $13.96 billion in the Zacks consensus. Comps were +3% year over year, and even though next-quarter earnings guidance was lower than analysts had supposed, full-year earnings are higher than previously determined. Shares are still -2% in early trading, +28% year to date.
NVIDIA Reports Q3 Results After the Closing Bell
What more is there to say about NVIDIA (NVDA - Free Report) and its Q3 earnings report due out after today’s close? Expectations are for both earnings and revenues to come in above +80% from a year ago, and the company almost always beats its estimates (currently riding a 7-quarter winning streak on earnings).
Two short years ago, NVIDIA shares were trading at around $16; currently it is above $147 per share — a 9-fold increase in 24 months. The semiconductor innovator has surpassed Apple (AAPL - Free Report) as the world’s largest company by market cap, valued at $3.6 trillion currently. Yet it still carries a Zacks Rank #1 (Strong Buy) going into this print. Look up the definition of “impressive” and your dictionary will direct you to NVIDIA’s business model.
We’ll also see results for cybersecurity growth play Palo Alto Networks (PANW - Free Report) and Montana-based software developer Snowflake (SNOW - Free Report) . Both expect double-digit revenue gains year over year, although only Palo Alto is expected to bring a year-over-year bottom-line in today’s report.
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Earnings Data Deluge
Pre-market futures are mostly higher at this hour, although off the peaks of roughly an hour before the opening bell. All major indexes are still in the red over the past five trading days, but remain in the green over the past month.
The Dow is +85 points higher presently, +0.20%, and leads the way among major indexes. The S&P 500 and Nasdaq are +0.11% and +0.15%, while the small-cap Russell 2000 is down -2 points, -0.12%. But the decreases are pretty steep; we wouldn’t be surprised to see a negative open from this trajectory.
Target Misses, TJX Companies Beats in Q3
Ahead of today’s open, two big-box retailers have released October-quarter financials, with differing results. Both Target (TGT - Free Report) and The TJX Companies (TJX - Free Report) carried Zacks Rank #3 (Hold) ratings into this morning’s report. Interestingly, TJX — with its TJ Maxx, Marshall’s, Home Goods and International brands — is nearly twice the size of Target by market cap.
Target missed on both top and bottom lines this morning, with earnings of $1,85 per share -19% lower than the $2.29 expected and $2.10 per share reported in the year-ago quarter. Revenues of $25.67 billion missed the $25.91 billion analysts were looking for. Digital comps were up a healthy +10.8%, but Gross Margins were -0.2% year over year. Shares are now negative year-to-date, -18% in today’s pre-market.
Meanwhile, TJX Companies outperformed on its bottom line by 5 cents to $1.14 per share on $14.06 billion in revenues, which outpaced expectations of $13.96 billion in the Zacks consensus. Comps were +3% year over year, and even though next-quarter earnings guidance was lower than analysts had supposed, full-year earnings are higher than previously determined. Shares are still -2% in early trading, +28% year to date.
NVIDIA Reports Q3 Results After the Closing Bell
What more is there to say about NVIDIA (NVDA - Free Report) and its Q3 earnings report due out after today’s close? Expectations are for both earnings and revenues to come in above +80% from a year ago, and the company almost always beats its estimates (currently riding a 7-quarter winning streak on earnings).
Two short years ago, NVIDIA shares were trading at around $16; currently it is above $147 per share — a 9-fold increase in 24 months. The semiconductor innovator has surpassed Apple (AAPL - Free Report) as the world’s largest company by market cap, valued at $3.6 trillion currently. Yet it still carries a Zacks Rank #1 (Strong Buy) going into this print. Look up the definition of “impressive” and your dictionary will direct you to NVIDIA’s business model.
We’ll also see results for cybersecurity growth play Palo Alto Networks (PANW - Free Report) and Montana-based software developer Snowflake (SNOW - Free Report) . Both expect double-digit revenue gains year over year, although only Palo Alto is expected to bring a year-over-year bottom-line in today’s report.