As tech giants Yahoo! Inc. (NASDAQ:YHOO) and Intel Corporation (NASDAQ:INTC) are poised to release earnings today after market close, analysts are eagerly awaiting updates from the two companies. The public stands on edge to hear any hints of Yahoo’s future reverse spin off plans and how Intel will cope with falling PC sales.

Yahoo! Inc.

Ahead of Yahoo’s much anticipated earnings, scheduled to be released today after market close, analyst Ronald Josey of JMP Securities weighed in on the struggling Internet giant. The analyst summarizes his estimates and highlights key points analysts should be watching as all eyes are on the company’s potential reverse spin off.

Josey is expecting the company to post first quarter net revenue of $849 million, slightly higher than the overall estimate of $846 million and marking a 19% year-over-year decrease. Josey also estimates pro-forma EPS of $0.08, relatively in-line with the overall consensus of $0.07.

Aside from earnings figures, the analyst is anticipating an update from management regarding the company’s strategic options, Search and Display updates, and progress on the new operating structure. Josey reminds investors that today is the deadline for submissions of “preliminary bids for some or all of Yahoo!’s core business.” Although he does not expect Yahoo management to divulge in new details, he acknowledges reports that Verizon submitted a bid. He elaborates, “We will be looking for any update on timing [for the reverse spin off], which, as of 4Q, was expected to be completed by the end of 2016 / early 2017 and we will be listening for progress on required steps, such as audited financial statements, shareholder approval, and SEC filings.”

Secondly, Josey comments that the first quarter “is likely another quarter of significant net revenue headwinds” for Yahoo’s Search and Display segment. He anticipates Search revenue of $355 million and Display revenue of $345 million, marking year-over-year decreases of 18% and 7%, respectively. Lastly, Josey will be awaiting an update on progress in Yahoo’s new operating structure, which streamlines the organization.

Josey maintains a Market Perform rating on the stock without a price target due to the company’s “amount of organizational change, continued headwinds across its core legacy business, and uncertainty around the strategic review process.”

According to TipRanks, Josey has a 55% success rate recommending stocks with a 0.7% average return per rating. Based on the analysts who have rated Yahoo in the last 3 months, 44% are bullish, 4% are bearish, and 52% are neutral. The average 12-month price target between these analysts is $38, marking a 5% potential upside from current levels.

Intel Corporation

Blue-chip stock Intel will report earnings today after market close. Krishna Shankar of Roth Capital Partners expects the company’s to post in-line first quarter earnings of $14.1 billion in revenue and $0.40 GAAP EPS.

Shankar expects Intel’s Client Group revenues to be down 10% from the last quarter due to recent data of “global macro weakness, soft consumer demand especially in emerging markets, competition from smartphone client platforms, slow Windows 10 corporate upgrade cycle, and inventory reductions.” The analyst expects client platforms to be “flattish” for 2016.

Aside from the flailing PC market, the analyst sees several avenues for growth this year. The analyst points out that Intel’s overall revenue may grow 5% to 7% in 2016, thanks to an 11% to 13% revenue growth from data center revenues. Shankar continues to explain that Intel has a “long term competitive advantage,” pointing to “3 + years ahead of industry with 14nm, second-generation trigate, [and] high-K/metal gate process technology.” Additionally, Intel enjoys the advantages of being a “leading brand,” having a “strong presence in global emerging markets driving much of growth, and a software/platform approach to delivering PC, server solutions to capture value.”

As a result of these long-term growth prospects, Shankar maintains a Buy rating on Intel with a $36 price target, marking a 14% potential upside from current levels.

According to TipRanks, 65% of analysts covering Yahoo are bullish, 3% are neutral, and 32% are neutral. The average 12-month price target between these analysts is $36.10, marking a 14% potential upside from current levels. Shankar has a 40% success rate recommending stocks with a 4.3% average loss per rating.