Before Nvidia, These 3 Holdings Will Take the Stage
Here’s what we’ll be listening for as we note other upcoming conference dates.
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While many across the market are eagerly awaiting quarterly results this week from Nvidia (NVDA) , and yes, we too fall into that camp, other company presentations are happening this week.
On Tuesday, that includes Arista Networks (ANET) presenting at the Wells Fargo TMT Summit this afternoon, Axon (AXON) at the 2025 RBC TIMT Conference also on Tuesday afternoon and Waste Management (WM) at Tuesday's 25th Annual Scotiabank Transportation & Industrials Conference.
The expectation is that all three will reiterate the forward-facing comments they made a short while ago when reporting their September quarter results. With Arista, we will be interested in the comments surrounding its deferred revenue, given the data center spending announcements in this quarter to date. Given Tuesday morning’s announcement that Anthropic has committed $30 billion to Microsoft Azure for its Claude AI models, odds are that Arista will have some upbeat thoughts to share.
With Axon, we’ll be focusing on the continued mix shift toward the higher margin services, as well as comments on future contracted bookings. At Waste, it will be the continued integration of the healthcare waste business that is top of mind, but also further progress on automation efforts. Any comments on 2026 pricing would also be helpful.
Mark Your Calendars: More Conferences Coming Up
As we digest those presentations, we’d suggest you mark your calendar for Axon’s presentation next week at the 6th Annual Needham Tech Week on November 20. Odds are, most of what will be discussed will be shared on Tuesday, but we’ll still keep our ears open.
After the Thanksgiving holiday, we have several Portfolio holdings appearing at the UBS Global Technology and AI Conference on December 2. Arista Networks will be one, and it will be joined by Microsoft (MSFT) and Qualcomm (QCOM) that day. The following day, December 3, it will be the management team from ServiceNow (NOW) at the podium.
Updates on the current quarter and preliminary insight into what these management teams expect for 2026 will be what we and others are interested in.
As we digest these management comments, we’ll update our thinking as needed, and if need be, revise our respective price targets.
What the Market Expects for TJX Earnings
And let’s not forget that TJX Companies (TJX) will report its quarterly results on Wednesday morning with a conference call at 11 a.m. ET. Consensus expectations call for EPS of $1.22 on revenue of $14.86 billion for the October quarter. For the current holiday shopping-filled one, the bar is set at EPS of $1.37 on $17.3 billion in revenue.
We recently picked up more shares of TJX for the Portfolio, given growing evidence that consumers are increasingly looking to deals and sales. In that environment, TJX and its various brands are well positioned, especially since the impact of tariffs is far less on their businesses.
Remember that around 90% of what TJX buys is from third parties, taking advantage of closeouts from brands, manufacturers and other retailers, or in some cases, manufacturing overruns. As such, for around 90% of its merchandise, TJX is not the direct importer, and that makes the TJX business model different than most retailers' on the tariff front.
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At the time of publication, TheStreet Pro Portfolio was long NVDA, AXON, ANET, WM, MSFT, QCOM, NOW and TJX.
