Bearish Signals Abound: AMAT, WMT & CSCO Under Pressure
1. $Applied Materials(AMAT)$ 2Q as guided. Guides 3Q flat revenue QoQ +3% Yo
2Q YoY
Revenue flat (-1% QoQ)
China 43% of revenue
Net income +9%
Dil. EPS +11% (Adj +5%)
OCF -39%
FCF -44%
3Q guidance
$6.65 B revenue. flat QoQ +3% YoY
2. $Wal-Mart(WMT)$ 1Q earnings ; narrows guidance to higher end (or above)
Image
1Q YoY
Revenue +6% (comp sales ex-fuel +3.8%)
Transactions +3.8%
Avg ticket flat
Net income +205%
Dil. EPS +200% (Adj +22.4%)
OCF -9%
FCF turned negative
3. $Cisco(CSCO)$ weak 3Q (better than guided). Mixed FY guidance
3Q YoY
Revenue -13%
Net income -41%
Dil. EPS -41% (Adj -12%)
YTD
OCF -48%
FCF -49%
FY guidance
raises revenue $53.6 B to $53.8 B (was $51.5 B to $52.5 B)
lowers EPS: $2.46 to $2.51 (was $2.61 to $2.73)
https://twitter.com/DividendWave/status/1791202205539631195
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