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Upcoming Earnings Reports to Watch: CVS, QCOM, DIS

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Stocks were down in morning trading Friday, putting major indexes on track to snap a three-day winning streak that followed a brutal month of selling. Friday’s renewed volatility comes amid heightened fears of a hawkish Fed and disappointing guidance from Apple (AAPL - Free Report) , which many bulls were betting on to deliver great results.

Recent losses are also a result of shifting sentiment around the prospects of a trade deal between the U.S. and China. While there were some indications in recent weeks that an agreement could be reached soon, the latest word is that a resolution to the ongoing trade war is not imminent.

We have started to compile plenty of evidence that this trade war is having an impact on U.S. businesses, as a number of firms have highlighted rising input costs and tariff burdens in their most recent earnings reports.

Other than that, Q3 report season has been relatively strong, with top and bottom line growth remaining robust across most sectors. That said, there are still plenty of reports left to come in, and investors must stay prepared for the latest developments.

To do that, one can use the Zacks Earnings Calendar to plan out their schedules for earnings, dividend announcements, and other important financial releases. This handy tool is your perfect one-stop-shop to properly prepare for the market events that will have an impact on your own portfolio.

Today, we have gone one step further and selected a few of next week’s top reports to preview right now. Let’s take a closer look at a few of the earnings announcements due during the week of November 5.

1. CVS Health Corporation (CVS - Free Report)

After a tough start to the year, CVS shares had rallied over the past six months before pulling back during the market’s red October. The pharmacy retailer is close to closing its merger with Aetna, and Wall Street is growing excited about the new joint company. CVS will hope to inspire even more excitement when it reports before the bell on November 6.

Analysts are expecting CVS to report earnings of $1.71 per share and revenue of $47.19 billion, according to our latest Zacks Consensus Estimates. These results would represent year-over-year growth of 14% and 2%, respectively. CVS’ earnings consensus has lost one penny on the back of a negative estimate revision within the past 60 days.

 

2. Qualcomm Incorporated (QCOM - Free Report)

QCOM shares rallied about 50% from their 52-week lows in late April to touch a new one-year high in September, but market-wide volatility and fears of an impending semiconductor selloff have battered the stock recently. The chip behemoth will look to buck that trend with strong results after the closing bell on November 7.

Consensus estimates have the company’s earnings pegged at $0.83 per share, down nearly 10% from the prior year. This projection has added a penny in the last 60 days, however. Meanwhile, revenue is expected to come in at $5.53 billion, down more than 6% on a year-over-year basis.

 

3. The Walt Disney Company (DIS - Free Report)

Media giant Disney will report its latest quarterly results after U.S. markets closes on November 8. The stock fared quite a bit better in October than many other major companies, but as the company continues to transition into the streaming age, its earnings reports present uncertainty.

Earnings per share and revenue are projected to be $1.31 and $13.81 billion, respectively. If these figures hold up, they would mark growth of 22% and 8% from the prior-year quarter. Investors will also be hoping for an update on the launch of Disney’s over-the-top streaming platform, which is expected to debut next year.

 

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