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Coffee With Greta: Short Week, NVDA In Focus


DJIA Futures: -116 (-0.3%)

SPX Futures: -16 (-0.3%)

NASDAQ Futures: -65 (-0.4%)

Good morning friends!

Futures are slipping as the holiday-shortened week of trade begins.

Let’s get right to it!

Walmart Jumps On Earnings Beat

Walmart (WMT) shares are up 4.9% ahead of the open after beating Q4 expectations on the top and bottom line. 

Here’s how the retail giant’s results compared to analysts’ estimates: 

  • Adjusted EPS: $1.80 vs $1.65 expected
  • Revenue: $173.39 billion vs $170.71 billion expected

Revenue rose 6% year over year.

Global e-commerce sales surged 23%, topping $100 billion total. 

U.S. e-commerce sales rose 17%. 

Walmart forecast EPS of $1.48 to $1.56 in Q1 on a pre-stock split basis. 

The company expects consolidated net sales to rise 4% to 5% during the quarter. 

Walmart also announced today it will acquire smart TV maker Vizio for $2.3 billion or $11.50 per share. 

Home Depot Slips As Sales Decline

Home Depot (HD) shares are falling 2.5% in premarket trade despite beating Q4 expectations as revenue declined year over year. 

Here’s how the home improvement retailer’s results compared to analysts’ estimates: 

  • EPS: $2.82 vs $2.77 expected
  • Revenue: $34.79 billion vs $34.64 billion expected

Sales declined nearly 3% from a year ago as demand slipped and higher rates caused homeowners to put off large projects. 

But the CFO said the company sees a chance to return to growth this year. 

He told CNBC, “Our market is on its way back to normal demand conditions. We’re not quite there yet, but the pressures we saw in 2023 are receding.”

Home Depot forecast sales growth of about 1% in fiscal 2024 vs 1.6% expected.

Nvidia Earnings Week

Nvidia (NVDA) shares are down 1.3% ahead of the open as the market awaits the company’s earnings report this week. 

The chipmaker is scheduled to report Q4 earnings after the market close on Wednesday. 

Analysts are expecting the company to report $20.6 billion in revenue, up 240% year over year. . 

This will be Nvidia’s first earnings report since its market cap surpassed those of Alphabet (GOOGL) and Amazon (AMZN) last week. 

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