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Nvidia earnings point to end of a year of revenue declines

“For the fourth quarter, Nvidia expects revenue of $2.89 billion to $3.01 billion, up from revenue of $2.21 billion in the year-ago period, which would end four straight quarters of revenue declines” writes Wallace Witkowski for marketwatch.com. Read: Nvidia earnings: When will a new product arrive for the data center?. Nvidia Corp. forecast a return to revenue growth after four quarters of declines Thursday afternoon and beat estimates for its quarterly results.Analysts surveyed by FactSet had forecast earnings of $1.58 on revenue of $2.92 billion.Nvidia NVDA, +0.58%  shares fluctuated between…

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Merck posts higher profit and revenue as it lifts sales forecast

“Merck KGaA said Thursday that net profit for the third quarter increased marginally, while an increase in revenue was supported by the health-care and life-science divisions” writes Carlo Martuscelli for marketwatch.com. On an organic basis net sales grew 5.7%. The company said it forecasts Versum to contribute EUR80 million-EUR90 million to Ebitda pre. Source: marketwatch.com

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Cisco forecast disappoints as global worries weigh on client spending

“Excluding items, Cisco earned 84 cents per share and beat estimates of 81 cents” writes Min Read for reuters.com. The company’s software and cyber security businesses helped the Dow-component beat estimates for the first quarter ended Oct. 26.(Reuters) – Cisco Systems Inc (CSCO.O) on Wednesday forecast second-quarter revenue and profit below expectations as increasing global economic uncertainties kept clients away from spending more on its routers and switches.Cisco expects revenue in the current quarter to drop by 3% to 5% from a year earlier to between $12.07 billion to $11.82…

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Futures News Oil 

Oil futures rise, looking to recoup losses from back-to-back declines

“They also forecast supply declines of 1.7 million barrels for gasoline and 1.6 million barrels for distillates” writes Saefong William Watts for marketwatch.com. Oil futures moved higher on Wednesday, with prices looking to recoup the losses they suffered over the past two trading sessions.The EIA forecasts 2019 U.S. crude production of 12.29 million barrels a day, up 0.2% from the October forecast.It also raised its 2020 U.S. output forecast by 0.9% to 13.29 million barrels a day.The Wall Street Journal late Wednesday reported that tariffs were emerging as the main…

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Snow to end, but cold temperatures remains: Northeast Ohio Wednesday forecast

“The National Weather Service forecast for Wednesday calls for mostly-cloudy skies and highs only reaching the upper twenties while any remaining snow showers should end early in the morning, well before sunrise” writes Cleveland Com for cleveland.com. Winter weather words and phrases to know before the snow hits Northeast Ohio braces for winter storm: What you need to know before the snow starts to fly Not since 1996 has Cleveland had 4 inches of snow this early in November; it could happen tonight.  Source: cleveland.com

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SmileDirectClub loss widens for quarter as revenue surges

“SmileDirectClub Inc. reported a wider loss late Tuesday as revenue soared, but third-quarter results were still better than Wall Street expected from the dental products company” writes Wallace Witkowski for marketwatch.com. Read: SmileDirectClub stock falls then recovers after scathing report from short seller SmileDirectClub expects full-year revenue of $750 million to $755 million for the year, while analysts forecast revenue of $746.5 million. “Q3 was a good quarter.Analysts surveyed by FactSet had forecast earnings of 97 cents on revenue of $165.4 million. Source: marketwatch.com

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Analysts Forecast 10% Gains Ahead For The Holdings of VB

“For the Vanguard Small-Cap ETF (Symbol: VB), we found that the implied analyst target price for the ETF based upon its underlying holdings is $176.35 per unit” writes Bnk Invest for nasdaq.com. Although RUBY has traded at a recent price of $10.95/share, the average analyst target is 117.65% higher at $23.83/share.With VB trading at a recent price near $160.00 per unit, that means that analysts see 10.22% upside for this ETF looking through to the average analyst targets of the underlying holdings.A high price target relative to a stock’s trading…

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Nissan Cuts Profit Forecast After 70% Quarterly Plunge

“Nissan slashed its full-year operating profit forecast by 35% to 150 billion yen, which would be its worst full-year performance in 11 years” writes Min Read for reuters.com. Operating profit at Japan’s second-biggest automaker by sales came in at 30 billion yen ($275 million) in July-September versus 101.2 billion yen a year earlier.That compared with a mean forecast of 47.48 billion yen from nine analyst estimates compiled by Refinitiv.It now sees global retail sales at 5.2 million vehicles, down from a previous forecast for 5.5 million, bracing for its worst…

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Vodafone ups earnings guidance after it returns to growth in second quarter

“This is reflected in our return to top-line growth in the second quarter, which we expect to build upon in the second half of the year in both Europe and Africa,” he said on Tuesday” writes Midwest Communications Inc for 95kqds.com. The company reported organic service revenue growth of 0.3% in the first half, as it returned to growth in the second quarter thanks to improvements in South Africa, Spain and Italy and a solid retail performance in Germany.Organic core earnings rose 1.4% in the half, and it said its…

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