Earnings season rages on next week with reports from Walmart, Target, Cisco, Alibaba and others.
Investors also await key inflation data, with CPI numbers coming Tuesday and PPI on Wednesday.
Monday, November 13
The week gets off to a relatively quiet start but across the pond, BAE Systems PLC (LSE:BA.) has been facing a public backlash over its involvement in the production of F-35 warplanes used by the Israeli military in Gaza, though its role in supplying Ukraine has been a big boost to its share price ...read the preview.
Others due to reports:
Earnings: AECOM,
Economic announcements: Federal Budget Statement
Tuesday, November 14
Home Depot Inc (NYSE:HD) is likely to deliver lower revenue and earnings when it reports back for its fiscal third quarter.
The Atlanta-based home improvement retailer has already guided for lower sales and profits throughout 2023, after reporting a smaller-than-expected Q2 decline, as demand for DIY products stays under pressure and customers remain wary of big-ticket purchases ...read the preview.
Tuesday also sees the release of inflation figures for October. Bank of America forecasts a rise in headline CPI of 0.2% month-on-month, a “meaningful deceleration” from the 0.4% print in September, which, if correct would see the annual rate fall three-tenths to 3.4%.
“While we expect headline inflation to moderate in October, we look for core inflation to print at 0.3% m/m for a second consecutive month,” BofA said.
Others due to report:
Earnings: Nu Holdings, Valex Imaging Corporation
Economic announcements: Core CPI, NFIB Optimism Index
Wednesday, November 15
Target Corporation (NYSE:TGT) is expected to report a year-over-year decline in both its sales and profits for the third quarter when it reports its latest financials before the stock market opens on Wednesday, November 15.
In August when reporting its second-quarter results, Target posted its first sales decline in six years due to consumer pullback on discretionary spending such as home goods and clothes amid inflationary pressures. This is expected to continue to weigh on Target’s results in 3Q ...read the preview.
Cisco Systems (NASDAQ:CSCO) is expected to report an almost 20% year-over-year surge in earnings when it hands down its first-quarter fiscal 2024 results after the closing bell in New York on Wednesday, November 15.
For the quarter ending October 28, 2023, the networking, cloud, and security solutions provider expects to report revenue in the range of $14.5 billion to $14.7 billion, up from $13.6 billion for the same period in fiscal 2023 ...read the preview.
Palo Alto Networks Inc (NYSE:PANW) is expected to see its fiscal first-quarter 2024 adjusted earnings per share (EPS) climb 40% year over year to $1.16 on revenue that is forecast to rise 18% to $1.84 billion, according to Zacks Equity Research.
In a note to clients, Wedbush analysts believe PANW is seeing considerable strength with major expansions within its installed base as more enterprises move to the cloud with the PANW platform ...read the preview.
TJX Companies Inc (NYSE:TJX), the parent company of TJ Maxx, is likely to report higher sales and earnings when it unpacks its third-quarter results.
The off-price retailer of apparel and home fashions in the US and worldwide has already guided for overall 3Q comparable store sales to be up 3% to 4% and diluted earnings per share to be in the range of $0.95 to $0.98 ...read the preview.
Others due to report:
Earnings: XPeng
Economic announcements: MBA Mortgage Applications, Producer Price Index, Retail Sales, Retail Sales Less Autos, Business Inventories, Crude Oil Inventories
Thursday, November 16
Walmart Inc (NYSE:WMT) is likely to report steady third-quarter earnings when it reports back before the market open on Thursday, November 16.
That’s after a knockout second quarter as it continued to attract more cost-conscious shoppers ...read the preview.
Alibaba Group (NYSE:BABA) is scheduled to report earnings before the market opens Thursday, when investors will get enough chance to evaluate the company’s focus on operating efficiency this year.
Analysts expect the Hangzhou, China-based company to post third-quarter earnings of $2.12 per share on earnings of $30.79 billion, compared to a loss of about $1.06 per share on revenue of $28.42 billion a year earlier ...read the preview.
Applied Materials, Inc. (NASDAQ:AMAT) is expected to report a slight year-over-year decline in both its sales and profits for the fourth quarter but full-year growth across both metrics when it hands down its 4Q and fiscal 2023 results ...read the preview.
Others due to report:
Earnings: Ross Stores, Gap
Economic announcements: Initial Jobless Claims, Continuing Claims, Import and Export Price Indices, Philadelphia Fed Index, Industrial Production, Capacity Utilisation
Friday, November 17
It should be a quieter end to the week, with no major earnings and only building permits and housing starts in terms of economic data.
Chicago Fed President Austan Goolsbee and San Francisco Fed President Mary Daly are expected to speak.