Yahoo Finance Trending tickers: Nvidia, Walmart, Home Depot and InterContinental Hotels
The latest investor updates on stocks that are trending on Tuesday
Nvidia (NVDA)
AI darling Nvidia is set to report its earnings on Wednesday and investors have not held back on bullish expectations. Buy-side estimates for Nvidia stand 9% above consensus, at $21.7bn (£17.2bn) for the fourth quarter.
The chipmaker's lead in AI has propelled it to the third-highest market cap in the world, only trailing Apple (AAPL) and Microsoft (MSFT).
Consensus projects Nvidia to report earnings per share of $4.60 and revenue of $20.36bn. That would mark year-over-year growth of 422% and 236%, respectively.
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Nvidia stock price is up 46.6% so far in 2024, adding to its 238% gain in 2023.
Walmart (WMT)
America's biggest retailer is set to report its fourth quarter results this Tuesday before the US opening bell.
US same-store sales are expected to jump 3.2%, based on Bloomberg consensus data, a sharp drop from the 8.8% growth it clocked this time last year.
Read more: Stocks that are trending today
As the nation’s largest retailer and private employer, Walmart often serves as a barometer for how consumers feel about their finances and how they are managing challenges like elevated grocery prices.
Wall Street expects Walmart to earn $1.65 in adjusted earnings per share (EPS) on a record $169.26bn in sales for the quarter ending in January. This would amount to a 4% increase in revenue but a slight dip from the year prior’s quarter of $1.71 in adjusted EPS.
Home Depot (HD)
The home improvement retail company was trading near two-year highs ahead of releasing its fourth-quarter earnings this Tuesday.
Investors are bracing themselves for what would be Home Depot’s first annual sales drop since 2009.
Analysts expect Home Depot’s revenue will fall by 3% to $34.6bn in its fiscal fourth quarter. Yearly revenue is also expected to decline by the same amount. Same-store sales are seen falling 3.2%.
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Investors will be interested in Home Depot's comments on consumer behaviour and how consumers are reacting to high levels of inflation.
IHG (IHG.L)
Holiday Inn owner InterContinental Hotels Group (IHG) has announced a new share buyback and hiked its dividend 10% after posting better-than-expected annual room revenue and adjusted operating profit that exceeded $1bn for the first time.
The hotel group reported total revenues of $4.6bn and an operating profit of $1.06bn, representing earnings per share of 443.8 cents.
The owner of the Crowne Plaza, Regent and Hualuxe hotel chains raised its final dividend by 10% to 104 cents and launched a new $800m share buyback programme.
Chief executive Elie Maalouf said: “The travel industry has attractive, long-term drivers of demand, and the strength of our brand portfolio and enterprise platform will continue to boost our RevPAR and system size growth.”
Watch: Nvidia earnings, Fedspeak, PMI data: What to Watch
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