In the latest developments surrounding the stock market, several companies are set to report their earnings, providing investors with crucial insights into their financial performances. Notably, Nvidia, a leader in the chip technology sector, is scheduled to announce its earnings on Wednesday after the market closes. CNBC’s Kristina Partsinevelos will provide a comprehensive report on the numbers and the immediate stock reactions. Currently, Nvidia’s shares have remained flat since the last earnings report three months ago and have experienced a downturn of 10% in November, sitting 15% below the peak reached on October 29.
Target, the retail giant, will present its earnings report on Wednesday morning during “Squawk Box.” The company’s stock has faced significant challenges, down nearly 16% over the past three months and a stark 44% decline from its 52-week high recorded last November.
Also reporting after the market closes will be Palo Alto Networks, a prominent player in cyber defense. CEO Nikesh Arora is expected to join Jim Cramer for an interview on “Mad Money” shortly after the results are disclosed. Palo Alto’s stock has seen a 14% increase since its last report, although it is still down 10% from its peak on October 28.
In the financial sector, Goldman Sachs CEO David Solomon will appear on “Money Movers” on Wednesday at 11 a.m. However, the bank’s stock has dropped by 8% since reaching a peak on November 12. A similar trend is evident across other banking giants; JPMorgan and Morgan Stanley both show declines of 7% since mid-November, while Bank of America and Wells Fargo have each seen over a 5% drop from their respective November highs. Citigroup is also down nearly 7% since its September peak.
The discussion about data centers has gained traction recently, as the sector faces challenges amid the broader downturn in artificial intelligence stocks. Metrics from several exchange-traded funds (ETFs) tracking this area reveal that Digital Realty Trust is down 19% since last November’s high, while the Pacer Data and Digital Revolution ETF is down 11% since October 29. Other ETFs, including the iShares US Digital Infrastructure ETF and Global X Data Center ETF, are showing declines of 6% and 10%, respectively, from their recent highs.
In after-hours trading, some stocks showed movement. La-Z-Boy lifted its earnings forecast, resulting in an 8% increase in its stock price during extended trading hours, even though the shares have decreased by 8% over the past month. ON Semiconductor enjoyed nearly a 3% increase in after-hours trading following a share repurchase authorization, despite facing a 13% drop in the last month. Constellation Energy also saw a 3% rise after the Trump administration announced a $1 billion loan for the restart of the Three Mile Island nuclear plant, although the stock remains down 12% in the past month.
For those interested in staying updated, the “Wake-Up Call” program with Frank Holland will further explore these stories on Wednesday morning.
