MCCAIG Half of the spotlight this week was shared with retailers on one side, and then there was Nvidia ( NVDA ), the market mover, on the other. Let's quickly recap a few important results that were reported this week in the aftermath of the first quarter earnings season. Fifteen S&P 500 companies reported their results; 13 of them beat on EPS and 12 on revenue.
Synopsys ( SNPS ) missed on both EPS and revenue, while Nordson ( NDSN ) fell short on revenue expectations. Target ( TGT ) posted an EPS miss and in-line revenue. Of the 466 companies that have reported quarter-to-date, about 78.
3% of them beat on earnings per share, while about 54.5% of them topped revenue consensus. On Tuesday, specialty retailer Lowe's ( LOW ) beat expectations with its Q1 earnings report .
The North Carolina-based company saw comparable sales fall by 4.1%, which was better than the consensus estimate for a decline of 5.6%.
The company noted that a decline in its DIY big-ticket discretionary spending was partially offset by positive comparable sales in Pro and online during the quarter. Looking ahead, total sales are expected to be about $84B to $85B for the full year vs. $84.
4B consensus, comparable sales to be down -2% to -3% compared to a year ago, and adjusted EPS of $12.00 to $12.30 vs.
$12.18 consensus. Target ( TGT ) on Wednesday reported mixed results, and the retailer pointed to sales declines in some discretionary categories .
The Minneapolis-based giant saw a comparable sales fall of 3.