Earnings Previews: Cisco Systems, Sociedad Química y Minera de Chile (SQM)

In early trading on Tuesday, the Dow Jones industrials were down 0.21% and the S&P 500 down 0.05%, but the Nasdaq was 0.02% higher.

After U.S. markets closed Monday, Canoo reported a smaller-than-expected adjusted loss per share and, as expected, reported no revenue. The company reported $69.7 million in cash and equivalents as of Monday and projected second-quarter operating expenses of $40 to $60 million and capital expenditures of $10 million to $20 million. Shares traded up nearly 19% early Tuesday.

Nu Holdings handily beat the consensus earnings per share (EPS) and revenue estimates. According to Monday’s Form 13-F filing, Berkshire Hathaway maintained its stake of about 107 million shares in Nu Holdings. Shares of the Brazilian fintech firm traded up 6%.

Before U.S. markets opened on Tuesday, Home Depot beat the consensus EPS estimate by a penny and missed on revenue. Sales were 4.2% below the year-ago quarter’s level. Home Depot also issued downside fiscal-year EPS and revenue guidance. Same-store sales are expected to decline by 2% to 5%. Shares traded down 2.5%.

iQIYI just beat the consensus revenue estimate and met the adjusted EPS estimate. The stock traded down 7.4%.

Sea Limited reported a big miss on the consensus EPS estimate and revenue that was higher than expected. Revenue increased by 4.9% year over year. Shares traded down more than 13%.

Tencent Music beat estimates on both the top and bottom lines. Shares traded down 8.5% nonetheless.

After U.S. markets close on Tuesday or before they open on Wednesday, Kyndryl, Star Bulk Carriers, Target and TJX Companies are scheduled to report quarterly results.

Here is a look at two companies scheduled to report results after markets close on Wednesday.

Cisco Systems

Networking giant and Dow component Cisco Systems Inc. (NASDAQ: CSCO) has posted a share price decline of almost 5% over the past 12 months. Since registering a new 52-week low in mid-October, the stock is up about 17.8%, including a 52-week high in late April. CEO Chuck Robbins said last week that Cisco will begin manufacturing in India, spending $1 billion in the country over the next few years. Institutional investors hold about 75% of the company’s stock, largely due to its solid dividend yield.

Analysts remain mildly bullish on the stock, with 11 of 26 having a Buy or Strong Buy rating and 15 more with Hold ratings. At a recent price of around $47.10 a share, the upside potential based on a median price target of $56.00 is 18.9%. At the high price target of $73.00, the upside potential is nearly 55%.

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