Wall
Street
is
deep
into
the
earnings
season,
but
there
are
still
some
major
reports
on
deck.
Nearly
50
S
&
P
500
companies
are
slated
to
release
their
latest
quarterly
results,
including
artificial
intelligence
darling
Nvidia
,
Walmart
and
Home
Depot
.
Heading
into
this
week,
more
than
three-quarters
of
S
&
P
500
names
have
posted
earnings.
Of
those,
76%
have
beaten
expectations,
FactSet
data
shows.
Take
a
look
at
CNBC
Pro’s
breakdown
of
what’s
expected
from
some
of
this
week’s
key
reports.
All
times
are
Eastern.
Tuesday
Walmart
is
set
to
report
earnings
before
the
bell.
Management
will
hold
a
call
at
8
a.m.
Last
quarter:
WMT
shares
slid
on
the
back
of
a
cautious
consumer
spending
outlook
.
This
quarter:
Analysts
polled
by
LSEG,
formerly
known
as
Refinitiv,
expect
the
retailer
to
post
slight
year-over-year
revenue
growth.
However,
earnings
per
share
are
expected
to
fall.
What
CNBC
is
watching:
Walmart
shares
are
off
to
a
strong
start
for
2024,
rising
8.1%.
Can
that
momentum
continue
even
as
inflation
persists?
Guggenheim
analyst
Robert
Drbul
thinks
so,
noting:
“Under
Doug
McMillon’s
outstanding
leadership
and
unique
vision,
Walmart’s
business
mix
continues
to
change
shape
and
create
a
better
profit
mix
versus
its
historical
P
&
L.”
Drbul
has
a
buy
rating
and
a
price
target
of
$190,
implying
upside
of
11.5%
from
Friday’s
close.
What
history
shows:
Bespoke
Investment
Group
data
shows
Walmart
beats
earnings
expectations
71%
of
the
time.
However,
shares
have
fallen
after
the
past
two
releases.
Home
Depot
is
set
to
report
earnings
in
the
premarket,
followed
by
a
conference
call
at
9
a.m.
Last
quarter:
HD
shares
rallied
on
better-than-expected
earnings
despite
home
improvement
sales
moderating
.
This
quarter:
Home
Depot
is
expected
to
report
an
earnings
decline
of
more
than
15%
from
the
year-earlier
period,
per
LSEG.
What
CNBC
is
watching:
Weather
could
play
a
big
role
in
Home
Depot’s
results,
noted
KeyBanc
analyst
Bradley
Thomas.
“We
expect
4Q
results
to
be
pressured
by
unfavorable
weather
conditions,
weaker
DIY
demand
and
traffic,
and
the
impact
of
softer
inflationary
trends
on
dollar
growth,”
wrote
the
analyst,
who
has
a
sector
weight
rating
on
the
stock.
What
history
shows:
Home
Depot
earnings
haven’t
missed
expectations
since
mid-2020,
according
to
Bespoke.
That
said,
the
stock
averages
only
a
0.3%
gain
on
earnings
days.
Wednesday
Nvidia
is
set
to
report
earnings
after
the
close.
The
company
is
also
slated
to
hold
a
call
at
5
p.m.
Last
quarter:
NVDA
posted
a
stellar
quarter,
with
revenue
tripling
year
over
year
.
This
quarter:
Analysts
expect
another
monster
quarter
for
Nvidia.
LSEG
estimates
point
to
earnings
per
share
and
revenue
growth
of
more
than
400%
and
over
200%,
respectively.
What
CNBC
is
watching:
Despite
the
stock’s
massive
outperformance
over
the
past
year,
investors
will
be
looking
for
clues
on
progress
around
a
China-focused
artificial
intelligence
chip,
which
is
expected
to
launch
later
this
year
.
“While
a
full
quarter
is
not
expected
to
be
recognized
right
away,
our
estimates
see
this
revenue
stream
in
the
region
of
$12B-$14B
in
annual
revenues
and
$3-$4
dollars
in
EPS
upside
on
annual
basis,”
wrote
Piper
Sandler
analyst
Harsh
Kumar,
who
has
a
price
target
of
$850
on
Nvidia
and
an
overweight
rating.
What
history
shows:
Nvidia
shares
have
risen
in
three
of
the
past
four
earnings
days,
Bespoke
data
shows.
The
company
also
beats
profit
forecasts
84%
of
the
time.
Thursday
Warner
Bros.
Discovery
is
set
to
report
earnings
before
the
bell.
A
call
between
analysts
and
management
will
then
take
place
at
8
a.m.
Last
quarter:
WBD
reported
a
bigger-than-expected
loss
and
a
decline
in
ad
revenue
.
This
quarter:
The
media
giant’s
revenue
is
expected
to
have
fallen
more
than
5%,
according
to
LSEG.
What
CNBC
is
watching:
It
has
been
a
rough
start
to
2024
for
Warner,
with
the
stock
losing
13.6%
on
concerns
of
declining
TV
ad
revenue
and
further
disruption
from
streaming.
However,
Deutsche
Bank
analyst
Bryan
Kraft,
who
has
a
buy
rating
on
the
stock
and
a
price
target
of
$20,
is
optimistic
about
the
company’s
future.
“We
continue
to
believe
in
WBD’s
ability
to
succeed
in
the
long-term
due
to
its
top-tier
content
engine
and
library,
sports
and
news
programming,
and
opportunity
to
achieve
a
higher
level
of
operational
performance
following
the
merger,
especially
at
its
current
valuation
levels,”
he
said
in
a
note.
What
history
shows:
Warner
shares
have
fallen
in
three
of
the
past
five
earnings
days,
including
two
double-digit
declines,
per
Bespoke.
