A better-than-expected earnings season starts winding down in the coming week, but a few choice reports are still on the horizon with quarterly results from Walt Disney Co., Nvidia Corp. and Snap Inc. on deck.
On Thursday, when companies representing $464 billion of S&P 500 index
market cap are scheduled to divulge earnings alone, two big reports will vie for investor attention: Disney
Disney, the sole Dow Jones Industrial Average
component reporting this week, finds itself in a transition period with the media giant scheduled to report earnings on Thursday. Not only has CEO Bob Iger announced he’ll step down in 2019, but the company has faced mounting pressure to retool its ESPN sports network in an age of cable cutting. This comes amid layoffs and rumors of layoffs at Disney properties ABC TV and ESPN.
Read: Disney earnings: It’s a transition period for the media and entertainment company
Other media earnings include Twenty-First Century Fox Inc.
which reports Wednesday. Also on Thursday, News Corp.
the parent company of MarketWatch and The Wall Street Journal, reports earnings.
Tech still on deck
Following a big week of tech earnings that included Apple Inc.
and Facebook Inc.
tech earnings still figure prominently with Nvidia reporting after the market closes on Thursday.
See also: Apple earnings show turnaround in three important segments
Nvidia shares have been on a tear this year, nearly doubling in price and up more than 25% since the company’s last earnings report. Investors have a lot of moving parts to follow as not only sales of chips to data centers come under scrutiny, but also sales of gaming and cryptocurrency chipsets and the company’s entry into self-driving car technology. One of Nvidia’s most prominent customers, Tesla Inc.
, hinted it may have a new plan for self-driving hardware this week, however.
Read: Nvidia earnings: After big stock gains, all segments are under the microscope
reports on Tuesday after the bell. Snap shares saw their biggest one-day surge since the company’s March IPO debut in October after one analyst doubled his projection for third-quarter user growth.
Research and development costs at Snap may fall under scrutiny as the self-billed “camera company” seeks to move on from its Spectacles release after ad revenue dried up in the previous quarter and the stock took a 14% one-day hit.
Read: After Spectacles Snap still spending millions on R&D
So far, companies on the S&P 500 index
are on track for a 5.9% rise in earnings, John Butters, senior earnings analyst at FactSet, wrote in a note. That’s slightly better than the 3% growth expected at the end of the September quarter. A little more than 80% of the companies on the S&P 500 have already reported earnings for the quarter.
Excluding the energy sector, tech earnings have seen the strongest growth at 18.9%, with makers of computer chips and chip-making equipment seeing a 44% rise in earnings growth. Depending on the company, those gains have not always translated into a boost in stock price this season.
Read: This tech-heavy stock-market index has never logged so many record closes in a single year
Other tech companies reporting include Skyworks Solutions Inc.
and Microchip Technology Inc.
Health care, travel-related companies and retailers round out the bill
Rounding out the week, there’s concentration in earnings from health care companies, travel and leisure names, and traditional retailers.
Healthcare names CVS Health Corp.
and Cardinal Health Inc.
report on Monday, while Regeneron Pharmaceuticals Inc.
and Humana Inc.
report on Wednesday.
In the travel and leisure space: Priceline Group Inc.
reports Monday while TripAdvisor Inc.
and Royal Caribbean Cruises Ltd.
report on Tuesday. Marriott International Inc.
and MGM Resorts International
report on Wednesday, and Norwegian Cruise Line Holdings Ltd.
reports on Thursday.
Traditional retailers Macy’s Inc.
and Nordstrom Inc.
all report on Thursday.