Earnings Previews: Cisco Systems, Sociedad Qu\u00edmica y Minera de Chile (SQM)

In early trading on Tuesday, the Dow Jones industrials were down 0.21% and the S&P 500 down 0.05%, but the Nasdaq was 0.02% higher.

After U.S. markets closed Monday, Canoo reported a smaller-than-expected adjusted loss per share and, as expected, reported no revenue. The company reported $69.7 million in cash and equivalents as of Monday and projected second-quarter operating expenses of $40 to $60 million and capital expenditures of $10 million to $20 million. Shares traded up nearly 19% early Tuesday.

Nu Holdings handily beat the consensus earnings per share (EPS) and revenue estimates. According to Monday’s Form 13-F filing, Berkshire Hathaway maintained its stake of about 107 million shares in Nu Holdings. Shares of the Brazilian fintech firm traded up 6%.

Before U.S. markets opened on Tuesday, Home Depot beat the consensus EPS estimate by a penny and missed on revenue. Sales were 4.2% below the year-ago quarter’s level. Home Depot also issued downside fiscal-year EPS and revenue guidance. Same-store sales are expected to decline by 2% to 5%. Shares traded down 2.5%.

iQIYI just beat the consensus revenue estimate and met the adjusted EPS estimate. The stock traded down 7.4%.

Sea Limited reported a big miss on the consensus EPS estimate and revenue that was higher than expected. Revenue increased by 4.9% year over year. Shares traded down more than 13%.

Tencent Music beat estimates on both the top and bottom lines. Shares traded down 8.5% nonetheless.

After U.S. markets close on Tuesday or before they open on Wednesday, Kyndryl, Star Bulk Carriers, Target and TJX Companies are scheduled to report quarterly results.

ALSO READ: Why Huge Energy MLP Deal Could Put 5 Big Dividend Payers in Play as Buyout Targets

Here is a look at two companies scheduled to report results after markets close on Wednesday.

Cisco Systems

Networking giant and Dow component Cisco Systems Inc. (NASDAQ: CSCO) has posted a share price decline of almost 5% over the past 12 months. Since registering a new 52-week low in mid-October, the stock is up about 17.8%, including a 52-week high in late April. CEO Chuck Robbins said last week that Cisco will begin manufacturing in India, spending $1 billion in the country over the next few years. Institutional investors hold about 75% of the company’s stock, largely due to its solid dividend yield.

Analysts remain mildly bullish on the stock, with 11 of 26 having a Buy or Strong Buy rating and 15 more with Hold ratings. At a recent price of around $47.10 a share, the upside potential based on a median price target of $56.00 is 18.9%. At the high price target of $73.00, the upside potential is nearly 55%.

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.

Source: Read Full Article