Here's your Investing Action Plan for Wednesday: what you need to know as an investor for the coming day:
Although earnings season has slowed down, tomorrow will see plenty of action, including tech names like Cisco Systems (CSCO), Applied Materials (AMAT), NetEase (NTES) and NetApp (NTAP), along with gold miners Barrick Gold (ABX), Kinross Gold (KGC) and Goldcorp (GG).
Applied Materials
The chip gear maker reports fiscal Q1 results after the close.
Estimates: EPS to shoot up 154% to 66 cents, the biggest gain in four years, as revenue jumps 45% to $3.27 billion.
Stock: Shares dipped 0.65% to close at 35.23 on the stock market today.
UBS recently increased its price target on Applied Materials to 40 from 37.50, noting robust sales of equipment for making displays to customers in China.
NetEase
The China-based video game publisher and online portal reports Q4 results after the market close.
Estimates: Adjusted earnings per American depositary receipt to jump 38% to $3.44 as sales grow 37% to $1.58 billion.
Stock: Share fell 1.8% to 256.12, dipping below their 257.78 buy point after breaking out earlier this month.
NetApp
The data management provider reports fiscal Q3 numbers after the close.
Estimates: EPS to rise 6% to 74 cents with revenue flat at $1.39 billion.
Stock: Shares edged down 0.15% to 39.52 but still in buy range after clearing a 39.10 entry last week.
NetApp has been battered by competitors in the field of all-flash storage as well as cloud-based and hyperconverged alternatives that are encroaching on the traditional storage market.
Cisco Systems
The networking gear giant reports fiscal Q2 earnings after the close.
Estimates: EPS of 56 cents, down a penny from the year-earlier period, as revenue slides 3% to $11.55 billion.
Stock: Shares rose 1.1% to 32.31, ending above a 32.05 entry point.
Cisco in January acquired software provider AppDynamics for $3.7 billion as it continues to make acquisitions to shift to a software- and cloud-based model from its router and switch origins. Peer Arista Networks (ANET) reports Thursday.
Gold Stocks
Barrick Gold, one of the largest gold miners, is expected to report a 138% EPS gain to 19 cents. Sales should rise 1% to $2.27 billion, which would be the first rise in four years.
Kinross Gold is expected to report a 1-cent per-share profit vs. a year-earlier loss of 6 cents a share, with revenue up 19.5% to $843.63 million.
Goldcorp should earn 9 cents per share, reversing a year-earlier loss of 15 cents a share, as revenue falls 5% to $1.01 billion.
