U.S. stock futures are trading lower Wednesday morning, but that's not stopping a parade of major companies from stepping into the earnings spotlight. Here's what investors should be watching as the market opens.
The star of the show is clearly Nvidia Corp. (NVDA), which reports after the closing bell. Wall Street is expecting the chipmaker to post earnings of $1.25 per share on revenue of $54.84 billion, according to data from Benzinga Pro. It's a massive quarter for a company that's become synonymous with the AI boom. Nvidia shares declined 2.8% Tuesday, closing at $181.36 as traders positioned ahead of the results.
On the retail front, Target Corp. (TGT) will release earnings before the opening bell. Analysts are looking for quarterly earnings of $1.72 per share on revenue of $25.34 billion. The big-box retailer's shares edged up 0.1% to close at $88.53 on Tuesday, suggesting investors are cautiously optimistic about what management might say about consumer spending patterns heading into the holidays.
La-Z-Boy Inc. (LZB) already delivered the goods Tuesday evening, posting better-than-expected earnings for its second quarter. The furniture maker also issued guidance for third-quarter sales between $525 million and $545 million, giving investors something to lean back and feel good about. Shares rose 0.9% to close at $29.59 on Tuesday.
Before the market opens, TJX Companies Inc. (TJX) is projected to report quarterly earnings of $1.22 per share on revenue of $14.85 billion. The discount retailer, which operates T.J. Maxx and Marshalls, saw its shares gain 0.3% Tuesday to close at $145.58. Investors will be listening for any commentary on inventory levels and consumer demand for off-price merchandise.
Rounding out the morning's earnings lineup is Lowe's Companies Inc. (LOW), with analysts expecting quarterly earnings of $2.97 per share on revenue of $20.84 billion. The home improvement retailer's shares fell 2.4% to close at $219.57 on Tuesday, as traders await insight into housing-related spending trends.
It's shaping up to be a revealing day for both tech and retail, two sectors that tell very different but equally important stories about where the economy is heading.
