Yahoo Finance Tech Stocks' Earnings Lineup for Dec 12: ADBE, AVGO & ORCL
The Technology sector was fettered by the Huawei ban, higher tariffs, weak China market, softness in NAND pricing and sluggishness in data center demand in the last quarter.
However, improving trend in PC shipments, increasing proliferation of IoT and growing clout of cloud-based applications have been driving the sector of late.
Notably, investors are now keenly awaiting earnings releases from Adobe ADBE, Broadcom AVGO and Oracle Corporation ORCL, which usually report after the busy period of the earnings season. All these stocks are scheduled to report on Dec 12.
Let’s take a look into how things have been shaping up for these prominent technology companies ahead of their earnings releases.
Adobe has an Earnings ESP of +0.12% and a Zacks Rank #3 (Hold). Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 increases the odds of an earnings beat.
Notably, the Zacks Consensus Estimate for earnings has been stable over the past 30 days at $2.26.
Adobe Price and EPS Surprise
Adobe price-eps-surprise | Adobe Quote
The company’s fiscal fourth-quarter 2019 performance is likely to reflect robust adoption of Digital Media Solutions.
Moreover, impressive growth in Creative Cloud and Document Cloud business lines is expected to get reflected in the fiscal fourth-quarter Digital Media ARR (Annualized Recurring Revenues). (Read more: Adobe Gears Up for Q4 Earnings: What’s in the Cards?)
Broadcom’s fourth-quarter fiscal 2019 results are expected to reflect expanding presence in the infrastructure software space on synergies from CA buyout.
Furthermore, sequential growth in global semiconductor sales in August, September and October, is expected to have benefited Broadcom’s fiscal fourth-quarter performance.
Broadcom Inc. Price and EPS Surprise
Broadcom Inc. price-eps-surprise | Broadcom Inc. Quote
Although Broadcom carries a Zacks Rank #2, an Earnings ESP of -3.51% makes surprise prediction difficult. You can see the complete list of today’s Zacks #1 Rank stocks here.
We note that the Zacks Consensus Estimate for earnings has increased by 2 cents in the past 30 days to $5.39 per share. (Read more: Factors to Consider Ahead of Broadcom's Q4 Earnings)
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Oracle’s second-quarter fiscal 2020 results are anticipated to reflect solid adoption of cloud-based services and latest Autonomous Database.
Further, cloud-based Fusion ERP, NetSuite and HCM applications is likely to have contributed to the fiscal second-quarter performance.
Oracle Corporation Price and EPS Surprise
Oracle Corporation price-eps-surprise | Oracle Corporation Quote
However, increasing expenses on product development, by means of new hiring, product roll outs and partnerships, and acquisitions, is expected to have weighed on margins in the fiscal second quarter.
This Zacks Rank #3 stock has an Earnings ESP of -0.28%, which makes surprise prediction difficult.
Notably, the Zacks Consensus Estimate for earnings has been stable over the past 30 days at 88 cents. (Read more: Factors Setting the Tone for Oracle's Q2 Earnings)
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