S&P 500
The S&P 500’s forward annual earnings per share are tracking at $260, $100 higher than six years ago. The P/E on a forward estimate is 23x. The earnings yield is 4.39%, nearing the June 2020 low of 4.11%.
US Earnings
November 18 – Trip.com Group, Symbotic, AECOM, BellRing Brands, and Brady Corp.
Tuesday, November 19 – Walmart, Lowe’s, Medtronic, Keysight Technologies, and Viking Holdings.
Wednesday, November 20 – NVIDIA, TJX, Palo Alto Networks, Target, and Snowflake.
Thursday, November 21 – Intuit, Deere & Company, Ross Stores, Construction Partners, NetApp, and BJ’s Wholesale Club Holdings.
Friday, November 22 – The Buckle, and Global Blue Group Holding.
Pinterest’s Q3 FY24 earnings showed 18% YoY revenue growth.
Okta
Okta, Inc. – Class A Common is under Algo Engine buy conditions.
Okta is a leading company providing cloud-based solutions for secure user authentication and identity management.
NXP Semiconductors
ASX:NXP is under Algo Engine buy conditions. NXP Semiconductors is navigating a cyclical downturn, particularly in the Industrial, IoT and automotive markets. Despite this, we see value within the $200 – $220 price range.
NXP Semiconductors released its Q3 FY24 on November 4th after the market close, reporting a 5% year-over-year revenue decline.
NXP Semiconductors is guiding for $3 billion-$3.2 billion in revenue for Q4, which a 9% year-over-year decline.
Qualcomm
QUALCOMM Incorporated – Common is under Algo Engine buy conditions.
Qualcomm reported $33.19 billion in total revenue in its fiscal 2024, a 9% increase from 2023.
Meta
META:NAS is under Algo Engine buy conditions and remains a current holding, up 100% after a 444-day holding period.
Meta reported better-than-expected Q3 earnings on the top and bottom line, growing revenue at double digits. Meta outperformed other big tech companies by a large margin.
Amazon
AMZN:NAS has switched to Algo Engine sell conditions, and our holding was sold after generating a 47% return across a 363-day holding period.
Amazon’s results beat expectations, especially on the bottom line. However, the company’s business growth was weaker than that of Meta Platforms, Google, and Microsoft. Amazon is trading at a relatively elevated valuation, with an earnings multiple of 40x.
Microsoft
MSFT:NAS is under Algo Engine sell conditions.
Despite strong 1Q FY2025 earnings, Microsoft’s 2Q FY2025 guidance points to a sharp slowdown in total revenue, with Azure growth expected to decelerate further.
U.S Earnings
Monday, November 4 – Vertex Pharmaceuticals, Palantir Technologies, Constellation Energy, Zoetis, Marriott International, American International Group, Diamondback Energy, and Illumina.
Tuesday, November 5 – Ferrari, Apollo Global Management, Emerson Electric, Marathon Petroleum, Cummins, Microchip Technology, Yum! Brands, DuPont de Nemours, Restaurant Brands International, and Archer-Daniels-Midland.
Wednesday, November 6 – Novo Nordisk, Toyota Motor, Qualcomm, Arm Holdings, Gilead Sciences, MercadoLibre, CVS Health, McKesson, Williams Companies, Sempra, Johnson Controls International, Corteva, and Take-Two Interactive Software.
Thursday, November 7 – Arista Networks, Duke Energy, Airbnb, Petroleo Brasileiro, Motorola Solutions, Air Products Chemicals, Becton, Dickinson, Fortinet, and Block.
Friday, November 8 – TELUS, NRG Energy, Baxter International, Paramount Global, CNH Industrial, Fluor, and Embraer.
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