What to Expect in the Week Ahead (CRM, SNOW, and PDD Earnings; PCE Deflator)

Moomoo Breakfast US wrote a column · Nov 26, 2023 15:27

What to Expect in the Week Ahead (CRM, SNOW, and PDD Earnings; PCE Deflator)

Most of the big names have already reported this earnings season, but there are a number of companies expected to deliver results in the final week of November, including $Salesforce (CRM.US)$ , $Dell Technologies (DELL.US)$, and $Snowflake (SNOW.US)$.

$Salesforce (CRM.US)$ : Q3 earnings preview

Salesforce is slated to report earnings after the market closes on November 29 when the company will look to top earnings expectations as it has each of the last four quarters.

Analysts at Jefferies believe the company is positioned to do just that, thanks in part to a low bar. The software company is expected to report earnings of $2.06 per share on revenue of $8.72 billion.

$Snowflake (SNOW.US)$ : Q3 earnings preview

Snowflake is scheduled to report earnings on November 29, when investors will be watching closely for updates on the company's artificial intelligence software.

The cloud-computing data management company is expected to post earnings of $0.16 per share on revenue of $713.06 million.

$Dell Technologies (DELL.US)$ : Q3 earnings preview

Dell Inc. investors are hoping the company's third-quarter financial results will continue to propel the stock which has gained more than 82% in the year to date.

When it reports its 3Q results on Thursday, November 30, the personal computer maker is expected to report revenue of $22.93 billion, a 7.2% decline from the year-ago quarter.

EPS is also expected to decline from $2.30 in 3Q last year to $1.47.

Markets will have one hurdle to clear in the week ahead. On Thursday, investors will get the October personal consumption expenditures reading, which is the Federal Reserve's preferred inflation gauge. It's set to show a rise of 0.2%, down from the 0.7% rise in the prior month, according to FactSet consensus estimates.

I do think that if that number were to come out higher or hotter than expected, I think that would call into question the market's current assumption that the Fed has done tightening," Morningstar's Sekera said. "So I would expect that to be very negative for the markets if that number comes in worse than expected."

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