Earnings Previews: Applied Materials, Deere, DraftKings, Vale

In the first half-hour of trading on Wednesday, the Dow Jones industrials were down 0.41%, the S&P 500 down 0.35% and the Nasdaq down 0.13%. Retail sales in January came in much stronger than economists had predicted. Sales in every category posted a month-over-month increase, led by a boisterous 7.2% increase in food services and drinking establishments.

After U.S. markets closed Tuesday, Airbnb posted earnings per share (EPS) and revenue that beat consensus estimates and guided first-quarter revenue above consensus. Shares traded up 12.4% in the early going Wednesday.

Devon Energy reported mixed results, with EPS below the consensus estimate and revenue slightly higher. The stock traded down 10.6% Wednesday morning.

Livent also reported mixed results, surpassing the EPS consensus but missing on revenue. Shares traded up more than 3%.

Before markets opened on Wednesday, Barrick Gold beat the consensus EPS estimate by a penny and missed on revenue. The company also announced a new $1 billion buyback program. Shares traded down 3.3%

Kraft Heinz beat estimates on both the top and bottom lines but issued downside guidance for the 2023 fiscal year. The stock traded up about 0.8%.

Roblox reported a smaller-than-expected loss per share while beating the consensus revenue estimate. Revenue and bookings were reported to be strong in January. Shares traded up more than 24%.

Albemarle, Antero Resources, Cisco Systems and Energy Transfer will report earnings after Wednesday’s closing bell. First thing Thursday morning, look for reports from Cenovus Energy, Datadog and Paramount Global.

Here is a look at what analysts expect when these four companies report quarterly results late Thursday or early Friday.

Applied Materials

Shares of semiconductor equipment maker Applied Materials Inc. (NASDAQ: AMAT) have cut their decline from a 12-month drop of 30% at the end of the October quarter to just over 10% as of Tuesday’s close. The stock is up nearly 22% so far in 2023. The company reports fiscal first-quarter results on Thursday.

Forecasts for chip demand in the current year have sales declining by up to 6% year over year, the industry’s first decline in four years. Companies like Applied Materials that make the precision and hugely expensive equipment to manufacture chips are also expected to experience lower demand.

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.