U.S. stocks fell sharply in morning trading, as concerns about slumping oil prices, a hotter-than-expected PPI, and a more hawkish Fed cooled Wall Street’s post-election bullishness.
Investors will now turn to the last wave of Q3 earnings reports for clues on what is next for this market, and with a number of trendy high-volume stocks and key consumer bellwethers due to announce their latest results in the coming days, those clues might just reveal themselves quickly.
With that said, investors should remember to 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.
We have made this task even easier today by selecting 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 12.
1. Tilray, Inc. ( TLRY)
Most of the major Canadian marijuana companies are reporting next week, but Tilray has emerged as the largest by way of market cap and might be the best example of how Wall Street will handle these stocks during earnings season. The cannabis producer is scheduled to release its report after the marker closes on November 13.
Analysts expect Tilray to report a loss of 14 cents per share and revenue of $10.0 million, according to our Zacks Consensus Estimates. Last quarter, in its first report on our records, Tilray posted a loss of 17 cents per share, missing the consensus mark by eight cents. Shares are up over 430% on the year, but the stock has pulled back more than 45% from its highs.
2. Walmart Inc. ( WMT Quick Quote WMT - Free Report)
Big box retail behemoth Walmart is scheduled to release its most recent quarterly results before the bell on November 15. Walmart shares were relatively unaffected by October’s volatility, and the stock has gained a cool 17% over the past three months. The retailer will now carry that momentum into its report, where it will serve as a key indicator of consumer strength ahead of the holiday shopping season.
Consensus estimates are calling for Walmart to report revenue of $124.8 billion, up about 1.3% on a year-over-year basis. Earnings are expected to come in at $1.02 per share, which would represent growth of 2.0%. However, this consensus has shed two cents as negative revisions outweighed positive revisions over the last two months. Walmart has an impressive earnings surprise history, but this downward trend is not what we necessarily want to see before a report.
3. NVIDIA Corporation ( NVDA)
Graphics chip pioneer Nvidia is slated to release its latest quarterly financial results after the market closes on November 15. The buzz around Nvidia has quieted down this year—a result of both recent volatility in growth stocks and concerns that the company would struggle to maintain its own remarkable expansion. Since the New Year, NVDA shares are up just 3.3%.
Nevertheless, Nvidia is expected to post another solid quarter of growth next week. The firm is projected to see earnings of $1.91 per share and revenue of $3.24 billion, which would represent year-over-year improvements of 43.6% and 22.9%, respectively. Nvidia’s earnings estimates have, however, trended downward over the past month.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>