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Reliance Trading Co. Limited – Retail Thursday in the US – Walmart and Nvidia to Report
Whilst the markets saw some positivity yesterday with all 3 main indexes closing higher, concerns still grow on further trade tension between China and the US.
By: Reliance Trading Co. Limited
Walmart has been capturing the attention of Wall Street and investors alike lately, as the company continues to go head-to-head with e-commerce behemoth and rival Amazon. Shortly after Amazon announced plans to roll out one-day shipping for its Amazon Prime members, Walmart also announced its plans to offer free one-day shipping on select items. Walmart has been one of the few traditional brick-and-mortar retailers that has been able to take on industry disruptor Amazon. Investors will be focused on how Walmart fared over the past quarter and if it continued to ramp up its e-commerce and grocery businesses.
Analysts polled by Bloomberg are anticipating Walmart to report adjusted earnings of $1.02 cents per share on $124.94 billion of revenue.
Meanwhile, chipmaker Nvidia will release its report amid tough times for the semiconductor company as the trade war between the U.S. and China intensified over the past two weeks. Chipmakers are highly exposed to China, so any negative trade war news directly impacts performance for the major semi stocks. Nvidia had a tough year in 2018, but shares rallied nearly 20% so far this year even with the negative drag from the recent trade war developments. As the company releases financial results after the bell on Thursday, analysts expect adjusted earnings of 81 cents per share on $2.20 billion of revenue.
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