United States | Singapore | Hong Kong | Earnings
Honeywell International, Inc. (HON US)
- Shares closed above the 5dEMA with elevated volume for the week.
- Both RSI and MACD are constructive.
- Long – Entry 220, Target 248, Stop 206
Shoals Technology Group, Inc (NOW US)
- Shares closed above the 5dEMA with elevated volume for the week.
- Both RSI and MACD are constructive.
- Long – Entry 9.6, Target 11.0, Stop 8.9
Creative Technologies Ltd. (CREAF SP)
- Shares closed above the 5dEMA with elevated volume for the week.
- Both RSI and MACD are constructive.
- Buy – Entry 0.92, Target 1.10, Stop 0.83
Taka Jewellery Holdings, Ltd. (TAKA SP)
- Shares closed above the 5dEMA.
- RSI is constructive and MACD is about to turn positive.
- Buy – Entry 0.200, Target 0.230, Stop 0.185
Foxconn Interconnect Technology Ltd (6088 HK)
- Shares closed above the 10dEMA with rising volume.
- RSI is constructive, while MACD is negative.
- Long – Entry 9.0, Target 10.0, Stop 8.5
Sunny Optical Technology Group Co Ltd (2382 HK)
- Shares closed at a five-months high above the 5dEMA with a surge in volume.
- Both RSI and MACD are constructive.
- Long – Entry 72, Target 80, Stop 68
Walmart Inc. (WMT)
- 1Q27 Revenue: $177.75B, +7.3% YoY, beat estimates by $2.91B
- 1Q27 Non-GAAP EPS: $0.66, in-line with estimates
- 2Q27 Guidance: Expect adjusted earnings per share will be between 72 cents and 74 cents, missing expectations of 75 cents and anticipates net sales to climb 4% to 5% during the quarter.
- FY27 Guidance: Reaffirmed its previously issued guidance of adjusted earnings per share to be between $2.75 and $2.85, lower than expectations of $2.91 and net sales to rise between 3.5% and 4.5% for the year.
- Comment: Walmart delivered a resilient first quarter, with revenue rising 7% YoY to US$177.8bn and adjusted EPS of US$0.66, in line with expectations, supported by 4.1% same-store sales growth, strong transaction growth, and continued gains in e-commerce and higher-income customers. Global e-commerce sales rose 26%, U.S. marketplace sales grew nearly 50%, and global advertising revenue increased 37%, strengthening Walmart’s higher-margin revenue streams. However, shares fell after management reaffirmed a cautious fiscal 2027 outlook, guiding adjusted EPS of US$2.75-US$2.85 and second-quarter EPS of US$0.72-US$0.74, both below expectations, as higher fuel prices and weaker consumer sentiment pressure shopper budgets. Looking ahead, Walmart remains well positioned to gain share as value-seeking consumers trade down, but earnings upside may be capped in the near term as fuel costs, stretched lower-income households, and macro uncertainty weigh on margins and discretionary spending. 2Q27 recommended trading range: $110 to $130. Neutral Outlook.
沃尔玛公司 (WMT)
- 27财年第一季度营收：1777.5亿美元，同比+7.3%，超出预期29.1亿美元。
- 27财年第一季度Non-GAAP每股收益：0.66美元，与预期持平。
- 27财年第二季度指引：预计调整后每股收益在72至74美分之间，低于预期75美分；并预计当季净销售额增长4%至5%。
- 27财年指引：重申此前给出的调整后每股收益预计区间为2.75至2.85美元，低于市场预期2.91美元；并预计全年净销售额增长3.5%至4.5%。
- 短评：沃尔玛一季度表现稳健：营收同比增长7%至1778亿美元，调整后EPS为0.66美元，符合预期；主要受同店销售增长4.1%、交易量增长强劲，以及电商和更高收入客户持续增长支撑。全球电商销售增长26%，美国平台销售增长接近50%，全球广告收入增长37%，增强了沃尔玛利润率更高的收入来源。不过，股价在管理层重申谨慎的27财年展望后下跌：调整后EPS指引为2.75至2.85美元、二季度EPS为0.72至0.74美元，均低于预期；原因包括油价更高以及消费者情绪偏弱对购物预算造成压力。展望未来，沃尔玛仍具备通过“价值导向”消费者换购下沉来争取份额的良好位置，但近期盈利上行可能受限——油价成本、低收入家庭承压以及宏观不确定性将对利润率和可选消费形成拖累。27财年第二季度建议交易区间：110美元至130美元。中性前景。
Deere & Co (DE)
- 2Q26 Revenue: $13.37B, +4.8% YoY, beat estimates by $1.87B
- 2Q26 GAAP EPS: $6.55, beat estimates by $0.81
- FY26 Guidance: Reaffirmed its full-year net income target at $4.5B to $5B. Expects construction segment’s full-year revenue to rise 20%, up from its prior forecast of a 15% growth, and annual operating margins of 10%-12%, up from 9%-11% estimated earlier.
- Comment: Deere & Company delivered a stronger-than-expected second quarter, with net sales rising to US$11.78B and earnings of US$6.55 per share, both ahead of estimates, supported by resilient demand for smaller agricultural equipment and continued strength in its construction segment. While the company maintained its full-year net income guidance of US$4.5B to US$5.0B, management highlighted that demand for large tractors and combine harvesters remains weak as farmers continue to face low crop prices, elevated and volatile input costs, and a challenging farm income environment. Deere’s construction business remained a key bright spot, benefiting from AI-driven data center infrastructure buildouts, prompting the company to raise its construction segment revenue growth outlook to 20% for the year. Looking ahead, Deere is likely to face continued near-term pressure in its core agriculture business until farm profitability improves meaningfully, though expanding infrastructure spending, construction demand, and eventual replacement cycles for aging farm equipment could support a gradual recovery over the medium term. 3Q26 recommended trading range: $510 to $550. Neutral Outlook.
迪尔公司 (DE)
- 26财年第二季度营收：133.7亿美元，同比+4.8%，超出预期18.7亿美元。
- 26财年第二季度GAAP每股收益：6.55美元，超出预期0.81美元。
- 26财年指引：重申全年净利润目标为45亿至50亿美元。预计建筑板块全年营收将增长20%，高于此前预计的15%增长；并预计全年年度经营利润率为10%至12%，高于此前估计的9%至11%。
- 短评：迪尔公司交出强于预期的第二季度：净销售额升至117.8亿美元、每股收益6.55美元，均高于预期；主要受益于对较小型农业设备的需求韧性，以及建筑板块持续走强。尽管公司维持全年净利润指引45亿至50亿美元不变，管理层也指出大型拖拉机和联合收割机需求仍偏弱——农户仍面临农作物价格较低、投入成本高且波动大，以及农场收入环境较为艰难。建筑业务仍是亮点，受益于AI驱动的数据中心基础设施建设，公司将建筑板块全年营收增长展望上调至20%。展望未来，迪尔的核心农业业务在短期内可能仍承受压力，直至农场盈利显著改善；但随着基础设施支出增加、建筑需求维持，以及老旧农机逐步进入更换周期，中期或存在逐步复苏的支撑。26财年第三季度建议交易区间：510美元至550美元。中性前景。
NetEase Inc (NTES)
- 1Q26 Revenue: $4.43B, +6.1% YoY, beat estimates by $70M
- 1Q26 Non-GAAP EPADS: $2.56, beat estimates by $0.30
- FY26 Guidance: Reaffirmed its full-year guidance, expecting total sales between $92B and $94B, an increase of between 7% and 9% compared with the prior year. It expects comparable sales to be flat to up 2% compared with last year. It expects adjusted earnings per share of between $12.25 and $12.75 for the full year.
- Comment: NetEase reported first-quarter revenue rising 6% YoY to RMB30.6bn, driven primarily by a 7% increase in games revenue and improving profitability, as gross margin expanded sharply to 69.4%. The company’s gaming portfolio remained the key growth driver, supported by strong engagement and monetization from titles such as Where Winds Meet, Marvel Rivals, and the long-running Fantasy Westward Journey franchise, which achieved record player activity and strong rankings across both China and overseas markets, including Steam. Management also highlighted momentum in international expansion, robust bookings across newer titles, and a strong pipeline featuring upcoming games such as Sea of Elements and Ananta. Financially, NetEase maintained a strong balance sheet with RMB167.5bn in net cash while continuing shareholder returns through dividends and ongoing buybacks under its US$5bn repurchase program. Looking ahead, NetEase appears well positioned to sustain growth through continued global expansion, live-service monetization, and new game launches, although maintaining hit-driven engagement and navigating competition in both domestic and international gaming markets will remain key factors influencing longer-term performance. 2Q26 recommended trading range: $100 to $120. Neutral Outlook.
网易公司 (NTES)
- 26财年第一季度营收：44.3亿美元（RMB 306亿），同比+6.1%，超出预期0.7亿美元。
- 26财年第一季度Non-GAAP每股收益（EPADS）：2.56美元（文中口径），超出预期0.30美元。
- 26财年指引：重申全年指引：总销售额92亿至94亿美元，较上年增长7%至9%；预计可比销售额在去年基础上持平至上升2%；预计全年调整后每股收益在12.25至12.75美元之间。
- 短评：网易公布一季度营收同比增长6%至人民币306亿元，主要由游戏业务收入增长7%以及盈利能力改善带动；毛利率大幅提升至69.4%。游戏业务仍是增长核心引擎，得益于如《挺进深境》（Where Winds Meet）、《漫威对决/Marvel Rivals》以及长期运营的《幻想西游》（Fantasy Westward Journey）等产品的强劲用户参与与变现；这些游戏在中国及海外市场（包括Steam）均创下玩家活跃度新高，并取得较强排名。管理层也强调国际扩张进展：新游戏带动的订单表现强劲，且产品储备扎实，包括《Sea of Elements》《Ananta》等即将上线的游戏。财务上，网易维持稳健资产负债表：净现金人民币1675亿元，并通过分红及在其50亿美元回购计划下持续回购向股东回馈。展望未来，网易看起来有条件通过持续全球扩张、直播服务变现以及新游戏上线来维持增长；但能否保持“爆款驱动”的用户参与度，以及应对国内外游戏市场竞争，仍将是影响中长期表现的关键因素。26财年第二季度建议交易区间：100美元至120美元。中性前景。
Workday Inc. (WDAY)
- 1Q27 Revenue: $2.54B, +13.4% YoY, beat estimates by $20M
- 1Q27 Non-GAAP EPS: $2.66, beat estimates by $0.14
- 2Q27 Guidance: Expect 30% adjusted operating margin and $2.46B in subscription revenue, vs estimates of 30% margin and $2.45B in subscription revenue.
- FY27 Guidance: Raised full-year margin forecast now expecting 30.5% adjusted operating margin, up from 30% as of February. The company is still looking for 12% to 13% growth.
- Comment: Workday delivered stronger-than-expected fiscal first-quarter results, with revenue rising 13% YoY to US$2.54bn and adjusted EPS of US$2.66, both ahead of Wall Street expectations, while net income more than tripled to US$222mn. The company also raised its full-year adjusted operating margin guidance to 30.5%, reflecting improving profitability and operational discipline, which helped drive a sharp rally in the stock. Management emphasized that its AI strategy is gaining traction, with the number of customers using Workday AI agents more than doubling sequentially to over 4,000 clients and annualized revenue from agentic AI solutions approaching US$500 million. Its CEO highlighted that future growth will increasingly come from AI-driven applications rather than traditional incremental software features. Looking ahead, Workday appears well positioned to benefit from enterprise adoption of AI-powered finance and HR automation, although investor focus will remain on whether generative AI can accelerate long-term growth enough to offset concerns about software market disruption and slower enterprise spending. 2Q27 recommended trading range: $120 to $160. Positive Outlook.
Workday 公司 (WDAY)
- 27财年第一季度营收：25.4亿美元，同比+13.4%，超出预期2000万美元。
- 27财年第一季度Non-GAAP每股收益：2.66美元，超出预期0.14美元。
- 27财年第二季度指引：预计调整后经营利润率为30%，订阅收入为24.6亿美元；对比市场预期利润率30%、订阅收入24.5亿美元。
- 27财年指引：上调全年利润率预期：预计调整后经营利润率为30.5%（高于截至2月时的30%）。公司仍预计增长12%至13%。
- 短评：Workday公布的27财年第一季度业绩强于预期：营收同比增长13%至25.4亿美元，调整后EPS为2.66美元，均高于华尔街预期；净利润更是增加至2.22亿美元以上（超过三倍）。公司同时上调全年调整后经营利润率指引至30.5%，反映盈利能力改善与运营纪律增强，这也推动股价快速上涨。管理层强调其AI战略正在加速落地：使用Workday AI代理的客户数环比翻倍以上至4000多家；来自代理型AI解决方案的年化收入接近5亿美元。公司CEO表示，未来增长将越来越来自AI驱动的应用，而不再主要依赖传统软件“增量功能”。展望未来，Workday有望受益于企业对AI驱动财务与人力资源自动化的采用；不过投资者关注点仍在于：生成式AI能否足够加速长期增长，以抵消市场对软件被“重塑/颠覆”以及企业支出放慢的担忧。27财年第二季度建议交易区间：120美元至160美元。积极前景。
Ross Stores Inc (ROST)
- 1Q27 Revenue: $6.01B, +20.7% YoY, beat estimates by $360M
- 1Q27 GAAP EPS: $2.02, beat estimates by $0.30
- FY27 Guidance: Raised its annual comparable sales and profit forecasts, it now expects annual same-store sales to rise 6% to 7%, compared with its previous forecast of 3% to 4% growth and annual earnings per share of $7.50 to $7.74, up from its previous forecast of $7.02 to $7.36.
- Dividends: Declared a $0.445/share quarterly dividend, in line with previous, payable June 30; for shareholders of record June 9.
- Comment: Ross Stores delivered a strong quarter as resilient demand for discounted apparel and accessories drove management to raise both its annual comparable sales and profit outlook. First-quarter comparable sales surged 17%, while earnings of US$2.02 per share comfortably beat expectations, supported by increased traffic across income groups, demographics, and younger shoppers seeking value amid ongoing inflationary pressures and macroeconomic uncertainty. The company now expects full-year same-store sales growth of 6% to 7%, up from its prior 3% to 4% forecast, alongside higher EPS guidance of US$7.50 to US$7.74. Looking ahead, Ross Stores appears well positioned to continue benefiting from trade-down spending behavior as consumers remain price conscious, although sustaining elevated growth rates may become more challenging if consumer demand weakens materially or inventory availability in the off-price channel tightens. 2Q27 recommended trading range: $220 to $260. Positive Outlook.
罗斯百货公司 (ROST)
- 27财年第一季度营收：60.1亿美元，同比+20.7%，超出预期3.60亿美元。
- 27财年第一季度GAAP每股收益：2.02美元，超出预期0.30美元。
- 27财年指引：上调年度可比销售额和利润预测：预计全年同店销售增长6%至7%，此前预期为3%至4%；并预计年度每股收益为7.50至7.74美元，较此前预测的7.02至7.36美元上调。
- 股息：宣布每股季度现金股息0.445美元，符合此前水平；股息支付日为6月30日；股权登记日为6月9日。
- 短评：罗斯百货交出强劲一季：受益于对折扣服装与配饰的需求韧性，管理层上调全年可比销售与利润展望。第一季度可比销售大幅增长17%，同时每股收益2.02美元，远超预期；增长来自各收入层、不同人群以及更年轻消费者的客流提升——在持续的通胀压力和宏观不确定性下，消费者更倾向于寻找性价比。公司目前预计全年同店销售增长6%至7%，高于此前3%至4%的预测，并同步上调EPS指引至7.50至7.74美元。展望未来，罗斯百货看起来有望继续从“以价换量/向下交易”的消费行为中获益，因为消费者依然对价格高度敏感；但如果消费者需求显著走弱，或折扣渠道的库存供应紧张程度上升，那么维持当前较高增速可能会变得更具挑战。27财年第二季度建议交易区间：220美元至260美元。积极前景。
