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Nvidia to keep surfing tech spending wave: Earnings week ahead

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Banking,Business,Canada

Expectations heading into Nvidia Corp.’s Wednesday report are high, with analysts anticipating another strong consensus beat that could prompt the chipmaker to raise its profit guidance.

Redd Brown, Lara Sanli, Allegra Fradkin, and Ignacio GonzalezNick Mersch, associate portfolio manager at Purpose Investments, joins BNN Bloomberg to discuss his outlook for Big Tech.

The week will also see a decidedly divergent set of results from Canadian lenders. Royal Bank of Canada is expected to post healthy growth across its interest and non-interest income segments, while higher provisions for loan losses will eat into Bank of Montreal and Bank of Nova Scotia earnings.Heico 2024 sales could come in higher than forecast if its plane replacement parts business continues to benefit from increased air traffic and an aging commercial fleet, Jefferies said.

Royal Bank of Canada’s net interest income should expand 9.6% versus 6.7% a year ago, thanks to the inclusion of HSBC’s Canadian operations, BI said. Non-interest income is likely to grow 12% versus 7.2% a year earlier. Five Below’s full-year earnings could come in lower than consensus after comparable sales slowed post-Fourth of July, Oppenheimer said. Adding to near-term uncertainty, the discount retailer may struggle to reposition itself after the departure of CEO Joel Anderson last month. Rival Dollar General , which reports Thursday, also faces a challenging operating environment with its operating margin still under pressure, said Argus Research.

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