In the upcoming holiday-shortened week leading up to Thanksgiving, investors can anticipate a flurry of earnings reports, with Nvidia (NVDA) taking center stage. The tech giant is set to announce its Q3 earnings on November 21, amid high expectations, driven in part by its recent AI-driven surge. Analysts are looking for Nvidia to reveal quarterly revenue of $15.99 billion and earnings per shareEarnings per share (EPS) is a fundamental financial metric that provides valuable insights into a company's profitability. This widely used indicator helps investors and analysts g... (EPS) of $3.37. Among the key areas of interest during the report will be the company’s assessment of the impact of China’s export controls, updates on its product roadmap, insights into the data center supply chain, commentary on hyperscale business, and details regarding AI services revenue. Additionally, other notable companies such as Lowe’s (LOW), Analog Devices (ADI), Autodesk (ADSK), Best Buy (BBY), Baidu (BIDU), Deere (DE), and DICK’s Sporting Goods (DKS) will also be sharing their earnings updates. On the economic front, global flash PMIs for November will dominate the calendar, while U.S. interest rate watchers will closely follow the release of minutes from the Federal Reserve’s FOMC meeting and the European Central Bank’s report on its most recent meeting.
Overbought/Oversold Stocks
The most overbought stocks per their 20-day relative strengh index are: Simpple Ltd (SPPL), Homeowners Choice (HCI), and Superior Uniform Group (SGC). The most oversold stocks per their 20-day Relative Strength IndexIn the world of technical analysis, the Relative Strength Index (RSI) stands as a cornerstone tool for traders seeking insights into market momentum. Developed by J. Welles Wilder ... are: Fisker Inc (FSR), Trivago NV ADR (TRVG), and Gambling.com Group Ltd (GAMB).
Auto Shows
The 116th Los Angeles Auto Show, scheduled from November 17 to 26, promises an exciting lineup of displays and brand showcases from a wide range of automakers including Acura, Cadillac, Chevrolet, Ford, Genesis, Honda, Hyundai, Jaguar, Kia, Land Rover, Lexus, Lincoln, Lucid, Mazda, Nissan, Polestar, Porsche, Subaru, Toyota, Volkswagen, and Volvo. Attendees can also look forward to hands-on driving and demo experiences offered by Cadillac, Chevrolet, Ford, Hyundai, Kia, Lucid, Nissan, Polestar, Porsche, Verge Motorcycles, Volkswagen, and Volvo. Ford is set to make a splash with new vehicle launches, including a special edition Mustang and the unique Ford “Gamer Van” in collaboration with Full Gaming Squad. Nissan and Volkswagen have teamed up to provide a co-located EV Track Experience, while Hyundai offers indoor test rides on its enclosed exhibitor EV track. Notable highlights from the LA Auto Show media preview included the debut of the Lucid Gravity electric SUV and the announcement of Amazon’s partnership with Hyundai to sell cars through its e-commerce platform. Meanwhile, the Guangzhou Auto Show across the Pacific Ocean is poised to be a major automotive event in the second half of the year, with automakers such as SAIC, Li Auto, XPeng, Leapmotor, BYD Company, Fang Cheng, Changan, Cadillac, Geely, HiPhi, ZEEKR, and a collaborative model between Chery and Huawei expected to showcase their latest models.
Conferences
Scheduled for November 20, 2023, the Needham Consumer Tech E-Commerce Virtual Conference will see the participation of prominent companies including Genius Sports, Sportradar, Etsy, ACV Auctions, Beachbody, and Redfin.
Meanwhile, short interest levels have continued to climb for Faraday Future Intelligent Electric (FFIE) and Beyond Meat (BYND), signaling heightened interest and activity among investors regarding these companies.
The most overbought stocks per their 20-day relative strength index are: Simpple Ltd (SPPL), Homeowners Choice (HCI), and Superior Uniform Group (SGC). The most oversold stocks per their 20-day Relative Strength Index are: Fisker Inc (FSR), Trivago NV ADR (TRVG), and Gambling.com Group Ltd (GAMB).
Earnings Reports
Monday, November 20, 2023 – Zoom Video (NASDAQ:ZM) and BellRing Brands (BRBR).
Tuesday, November 21, 2023 – Nvidia (NVDA), Lowe’s (LOW), Medtronic (MDT), Analog Devices (ADI), Autodesk (ADSK), Best Buy (BBY), Baidu (BIDU), DICK’s Sporting Goods (DKS), Burlington Stores (BURL), HP (HPQ), Nordstrom (JWN), and Jack in the Box (JACK)
Wednesday, November 22, 2023 – Deere (DE).
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