Earnings Previews: Block, Carvana, Warner Bros Discovery

In the first half-hour of Wednesday’s regular session, the Dow Jones industrials had added 0.2%, the S&P 500 traded up 0.21% and the Nasdaq was up 0.31%. Investors are waiting on the Federal Open Market Committee minutes, set to be released Wednesday afternoon, before making a decision on where they think equities will be going in the next few months.

Coinbase traded down about 1.5% in premarket action after it posted a bigger-than-expected per-share loss in the fourth quarter late on Tuesday. Revenue beat the consensus estimate but fell by nearly 75% year over year. The company said its plans going forward include generating positive EBITDA in “all market conditions.” Shares traded up 6.8% early Wednesday.

Palo Alto Networks beat consensus earnings per share (EPS) and revenue estimates. Guidance for the current quarter was mixed and full-year guidance was in line with expectations. Shares traded up 12.1%.

Transocean missed consensus estimates on both the top and bottom lines. Shares traded down 7.5% Wednesday morning.

Before markets opened on Wednesday, Baidu beat top-line and bottom-line estimates handily and announced a $5 billion share buyback program lasting through the end of 2025. The stock traded up 2.5%.

Stellantis overcame supply chain and logistics issues with higher prices, beating expectations on both the top and bottom lines. The company also announced a $1.6 billion share buyback program. Stellantis will also distribute $2.13 billion to employees in bonus and profit-sharing payments. Shares traded up 4.9%.

TJX Companies met the consensus EPS estimate and beat on revenue. The company also issued downside guidance for the current quarter and for its 2024 fiscal year ending in January. Shares traded down 1.6%.

After U.S. markets close on Wednesday, Coterra, eBay, Lucid and Nvidia are expected to report quarterly earnings. Alibaba, Newmont and Nikola will then take their turns in the earnings spotlight the following morning.

Here is a look at what to expect when the following three companies share their results after Thursday’s closing bell. There are no notable reports scheduled for Friday.

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