Stock market: the earnings of Cisco, Nvidia, and Walmart

The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves. Below we have gathered some important information for those who want to trade on these releases. You can trade these stocks with FBS (learn more) and make money! 

Wednesday, November 13

Cisco

Time: 23:30 MT time

EPS forecast: $0.81B

Revenue forecast: $13.07B

The stock of Cisco was doing fine in the first half of 2019, but everything changed at the end of July. Back then the network gear maker delivered a discouraging forecast which was based on the expected weakness in China and the decline in corporate tech-spending. This time, investors will want to see whether those fears have actually led to the worse financial results or whether the company’s estimate of the situation has improved. 

All in all, Cisco is up by about 11.5% so far this year, although it has performed much worse that the broader computer office equipment market which has gained more than 44%. The stock is relatively cheap, so if investors see that things are not as bad as they have thought, they may renew buying interest. 

The stock is supported by the 50-day MA at $48.00 and the 100-week MA at $47.40. A break lower will bring August and October los at $46.00 in focus. The rise above $49.00 will open the way up to $50.60 (100-day MA).  

Thursday, November 14

Walmart

Time: 14:00 MT time

EPS forecast: $1.09B

Revenue forecast: $128.57B

The giant retailer has been performing well this year. Sales have been growing at the fastest pace in more than a decade. On the downside, the company has to spend a lot of money on an expensive home delivery infrastructure in the United States to compete with Amazon and the international markets didn’t bring the most satisfactory results. This time, apart from earnings and revenue, investors will look at sales figures for every region, the firm’s spending volumes and its outlook for consumer demand.  

The stock of Walmart met resistance around $120.70: this level has limited the upside for a couple of times during the recent month. A close above this level is needed for advance towards $123.00 and higher - the stock is at the record highs, so there are no references in the form of the previous highs. Support is at $118.00 (50-day MA) and $117.00 (October, November highs) ahead of $115.40 (July high) and $114.80 100-day MA).

Friday, November 15

NVIDIA

Time: 00:30 MT time

EPS forecast: $1.58B

Revenue forecast: $2.92B

The past two quarters weren’t great for Nvidia’s data-center business on the back of the global economic slowdown, so investors will be eager for signs of improvement. The decline of cryptocurrency mining is still a negative factor for the company. In addition, it has a strong competitor - Advanced Micro Devices Inc. Analysts say that Nvidia is surely preparing new products which will help it gain pace relative to its rivals, but it isn't clear yet when exactly such a launch will happen. If this week the firm reveals that new products will appear soon, this should give the stock a boost.   

The stock of Nvidia broke above the triangle in September and has been pushing higher ever since. The price has managed to rise above April high at $193.40 and overcome the 200-week MA at $201.75 and is currently around the 50% Fibonacci retracement level of the 2018 decline. The next target on the upside lies at $228 (61.8% Fibo). The return below $201.75 will bring the level of $188.65 (September high; 38.2% Fibo) back in focus.   

Author: FBS Analyst Team

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