{"id":61326,"date":"2022-05-10T09:00:45","date_gmt":"2022-05-10T13:00:45","guid":{"rendered":"https:\/\/www.t3live.com\/blog\/?p=61326"},"modified":"2022-05-10T09:00:45","modified_gmt":"2022-05-10T13:00:45","slug":"coffee-with-greta-can-stocks-find-a-parachute","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/05\/10\/coffee-with-greta-can-stocks-find-a-parachute\/","title":{"rendered":"Coffee With Greta: Can Stocks Find a Parachute?"},"content":{"rendered":"

Editor's Note:<\/strong> Coffee With Greta is a FREE morning update from our newest contributor Greta Wall. Want to get it by email every day? Click here<\/span><\/a><\/strong>.<\/p>\n

********<\/p>\n

DJIA Futures: <\/b>+295 (+0.9%)<\/span><\/p>\n

SPX Futures: <\/b>+225 (+1.9%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+46 (+1.2%)<\/span><\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are higher after the S&P 500 tumbled to its lowest level in more than a year on Monday.<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

Stocks Rise, Yields Dip<\/strong><\/h2>\n

Stock futures are rising for the first time in 3 days as Treasury yields pull back.<\/span><\/p>\n

The yield on the 10-year Treasury note fell 10 basis points to 2.98% while the 30-year yield is down 11 basis points to 3.10%.<\/span><\/p>\n

The rebound comes after the major indexes plummeted on Monday.<\/span><\/p>\n

The <\/span>S&P 500<\/b> closed below 4,000 for the first time since April 2021, while the <\/span>Dow<\/b> shed more than 600 points, and the <\/span>Nasdaq<\/b> plunged more than 4%.<\/span><\/p>\n

Bitcoin Follows Stocks\u00a0<\/strong><\/h2>\n

Bitcoin is still down 3.6% in the past 24 hours, sitting at $31,800 after plunging more than 10% on Monday and dropping below $31,000.<\/span><\/p>\n

That was Bitcoin\u2019s lowest level since July 2021.\u00a0<\/span><\/p>\n

Ethereum is up 0.3% at $2,416, after falling more than 11% to under $2,300.<\/span><\/p>\n

The crypto market has recently been tracking the stock market instead of moving independently of Wall Street.<\/span><\/p>\n

Peloton Plummets on Huge Loss, Weak Outlook<\/strong><\/h2>\n

Peloton <\/b>(PTON) shares are are plunging 21.4% in premarket trade after reporting a massive fiscal Q3 loss.\u00a0<\/span><\/p>\n

The exercise bike maker reported a loss of $2.27 per share on $964.3 million in revenue.\u00a0<\/span><\/p>\n

That was worse than analysts\u2019 expectations for a loss of $0.83 per share on $972.9 million in revenue.\u00a0<\/span><\/p>\n

The stock is set to open at a fresh all-time low.\u00a0<\/span><\/p>\n

Peloton said it\u2019s seen a steep drop in customer demand as pandemic lockdowns were lifted.\u00a0<\/span><\/p>\n

But it did see higher treadmill sales in the quarter.<\/span><\/p>\n

Peloton added 195,000 connected fitness subscribers in the quarter, bringing the total to 2.96 million.\u00a0<\/span><\/p>\n

The company forecast fiscal Q4 revenue between $675 million and $700 million vs analysts\u2019 estimates for $821.7 million.\u00a0<\/span><\/p>\n

AMC Rallies on Earnings Beat<\/strong><\/h2>\n

AMC Entertainment <\/b>(AMC) shares are up 3.8% ahead of the open after reporting a narrower Q1 loss than expected.\u00a0<\/span><\/p>\n

The theater chain reported an adjusted loss of $0.52 per share on $785.7 million in revenue.\u00a0<\/span><\/p>\n

That was better than analysts\u2019 expectations for an adjusted loss of $0.63 per share on $743 million in revenue.\u00a0<\/span><\/p>\n

CEO Adam Aron said, \u201cOur results for the first quarter of 2022 represent AMC\u2019s strongest first quarter in two full years.\u201d<\/span><\/p>\n

AMC had $1.3 billion in available liquidity at the end of Q1.<\/span><\/p>\n

Novavax Falls on Earnings Miss<\/strong><\/h2>\n

Novavax <\/b>(NVAX) shares are down 26.6% in premarket trade despite reporting its first-ever profitable quarter.<\/span><\/p>\n

The biotech company reported earnings of $2.56 per share on $704 million in revenue.\u00a0<\/span><\/p>\n

But that was still shy of analysts\u2019 expectations for EPS of $2.69 on $845 million in revenue.\u00a0<\/span><\/p>\n

Novavax touted the \u201csuccessful\u201d launch of its Covid vaccine globally and said it\u2019s on track to expand its label use.\u00a0<\/span><\/p>\n

The company reiterated its full-year guidance for revenue between $4 billion and $5 billion.\u00a0<\/span><\/p>\n

Upstart Plunges After Cutting Guidance<\/strong><\/h2>\n

Upstart Holdings <\/b>(UPST) shares are plummeting 58.9% ahead of the open after beating Q1 expectations but cutting its full-year outlook.\u00a0<\/span><\/p>\n

The company reported adjusted earnings of $0.61 per share on $310 million in revenue.\u00a0<\/span><\/p>\n

That topped analysts\u2019 expectations for adjusted EPS of $0.53 on $300 million in revenue.\u00a0<\/span><\/p>\n

But Upstart forecast Q2 revenue between $295 million and $305 million vs analysts\u2019 estimates for $335 million.<\/span><\/p>\n

The company also slashes its full-year outlook, expecting $1.25 billion in revenue vs its previous forecast for $1.4 billion.<\/span><\/p>\n

Oil Prices Extend Losses<\/strong><\/h2>\n

Oil prices are down again today on continued concerns about global economic growth and the strong dollar.\u00a0<\/span><\/p>\n

West Texas Intermediate crude futures are down 0.4% to $102.60 bbl while Brent crude futures are down 0.6% to $105.20 bbl.<\/span><\/p>\n

Both posted their largest daily decline since March on Monday.\u00a0<\/span><\/p>\n

The energy market is concerned about rising recession risks in the U.S. as the Fed tightens its policy.<\/span><\/p>\n

Upcoming Economic Data<\/strong><\/h2>\n

The National Federation of Independent Business releases its April small business optimism index at 9:00 a.m. ET.\u00a0<\/span><\/p>\n

Economists expect that survey to show optimism among business owners fell by 0.3 points to 92.9 last month.\u00a0<\/span><\/p>\n

Small businesses have been squeezed by rising costs due to inflation as it\u2019s more difficult for them to hike prices compared to large corporations.\u00a0<\/span><\/p>\n

Business owners have also sounded the alarm on the current labor shortage in the U.S. economy.<\/span><\/p>\n

The New York Fed releases its Q1 report on real household debt at 11:00 a.m. ET.<\/span><\/p>\n

In Case You Missed It<\/strong><\/h2>\n
    \n
  • Rivian <\/b>(RIVN) shares plummeted 20.9% Monday after <\/span>Ford <\/b>(F) announced plans to sell part of its stake in the electric automaker. The stock hit a record low at $22.45 per share before closing at $22.78. Ford\u2019s sale comes after Rivian\u2019s IPO lockup period expired Sunday. Rivian\u2019s early 2022 stock plunge dented both Ford and <\/span>Amazon\u2019s <\/b>(AMZN) Q1 earnings. Rivian reports earnings Wednesday morning.<\/span><\/li>\n
  • The New York Fed\u2019s consumer expectations survey showed a cooldown in inflation forecasts in April. Respondents to the survey said they see inflation at 6.3% 1-year from now. That was down 0.3% from March. But consumers still expect household spending to surge 8% over the next 12 months. 3-year inflation expectations increased by 0.2% in April to 3.9%.<\/span><\/li>\n<\/ul>\n

     <\/p>\n","protected":false},"excerpt":{"rendered":"

    Editor’s Note: Coffee With Greta is a FREE morning update from our newest contributor Greta Wall. Want to get it by email every day? Click here. ******** DJIA Futures: +295 (+0.9%) SPX Futures: +225 (+1.9%) NASDAQ Futures: +46 (+1.2%) Good morning friends! Futures are higher after the S&P 500 tumbled to its lowest level in more than a year on Monday. Let\u2019s get right to it! Stocks Rise, Yields Dip Stock futures are rising for the first time in 3 days as Treasury yields pull back. The yield on the 10-year Treasury note fell 10 basis points to 2.98% while the 30-year yield is down 11 basis points to 3.10%. The rebound comes after the major indexes plummeted on Monday. The S&P 500 closed below 4,000 for the first time since April 2021, while the Dow shed more than 600 points, and the Nasdaq plunged more than 4%. Bitcoin Follows Stocks\u00a0 Bitcoin is still down 3.6% in the past 24 hours, sitting at $31,800 after plunging more than 10% on Monday and dropping below $31,000. That was Bitcoin\u2019s lowest level since July 2021.\u00a0 Ethereum is up 0.3% at $2,416, after falling more than 11% to under $2,300. The crypto market has recently been tracking the stock market instead of moving independently of Wall Street. Peloton Plummets on Huge Loss, Weak Outlook Peloton (PTON) shares are are plunging 21.4% in premarket trade after reporting a massive fiscal Q3 loss.\u00a0 The exercise bike maker reported a loss of $2.27 per share on $964.3 million in revenue.\u00a0 That was worse than analysts\u2019 expectations for a loss of $0.83 per share on $972.9 million in revenue.\u00a0 The stock is set to open at a fresh all-time low.\u00a0 Peloton said it\u2019s seen a steep drop in customer demand as pandemic lockdowns were lifted.\u00a0 But it did see higher treadmill sales in the quarter. Peloton added 195,000 connected fitness subscribers in the quarter, bringing the total to 2.96 million.\u00a0 The company forecast fiscal Q4 revenue between $675 million and $700 million vs analysts\u2019 estimates for $821.7 million.\u00a0 AMC Rallies on Earnings Beat AMC Entertainment (AMC) shares are up 3.8% ahead of the open after reporting a narrower Q1 loss than expected.\u00a0 The theater chain reported an adjusted loss of $0.52 per share on $785.7 million in revenue.\u00a0 That was better than analysts\u2019 expectations for an adjusted loss of $0.63 per share on $743 million in revenue.\u00a0 CEO Adam Aron said, \u201cOur results for the first quarter of 2022 represent AMC\u2019s strongest first quarter in two full years.\u201d AMC had $1.3 billion in available liquidity at the end of Q1. Novavax Falls on Earnings Miss Novavax (NVAX) shares are down 26.6% in premarket trade despite reporting its first-ever profitable quarter. The biotech company reported earnings of $2.56 per share on $704 million in revenue.\u00a0 But that was still shy of analysts\u2019 expectations for EPS of $2.69 on $845 million in revenue.\u00a0 Novavax touted the \u201csuccessful\u201d launch of its Covid vaccine globally and said it\u2019s on track to expand its label use.\u00a0 The company reiterated its full-year guidance for revenue between $4 billion and $5 billion.\u00a0 Upstart Plunges After Cutting Guidance Upstart Holdings (UPST) shares are plummeting 58.9% ahead of the open after beating Q1 expectations but cutting its full-year outlook.\u00a0 The company reported adjusted earnings of $0.61 per share on $310 million in revenue.\u00a0 That topped analysts\u2019 expectations for adjusted EPS of $0.53 on $300 million in revenue.\u00a0 But Upstart forecast Q2 revenue between $295 million and $305 million vs analysts\u2019 estimates for $335 million. The company also slashes its full-year outlook, expecting $1.25 billion in revenue vs its previous forecast for $1.4 billion. Oil Prices Extend Losses Oil prices are down again today on continued concerns about global economic growth and the strong dollar.\u00a0 West Texas Intermediate crude futures are down 0.4% to $102.60 bbl while Brent crude futures are down 0.6% to $105.20 bbl. Both posted their largest daily decline since March on Monday.\u00a0 The energy market is concerned about rising recession risks in the U.S. as the Fed tightens its policy. Upcoming Economic Data The National Federation of Independent Business releases its April small business optimism index at 9:00 a.m. ET.\u00a0 Economists expect that survey to show optimism among business owners fell by 0.3 points to 92.9 last month.\u00a0 Small businesses have been squeezed by rising costs due to inflation as it\u2019s more difficult for them to hike prices compared to large corporations.\u00a0 Business owners have also sounded the alarm on the current labor shortage in the U.S. economy. The New York Fed releases its Q1 report on real household debt at 11:00 a.m. ET. In Case You Missed It Rivian (RIVN) shares plummeted 20.9% Monday after Ford (F) announced plans to sell part of its stake in the electric automaker. The stock hit a record low at $22.45 per share before closing at $22.78. Ford\u2019s sale comes after Rivian\u2019s IPO lockup period expired Sunday. Rivian\u2019s early 2022 stock plunge dented both Ford and Amazon\u2019s (AMZN) Q1 earnings. Rivian reports earnings Wednesday morning. The New York Fed\u2019s consumer expectations survey showed a cooldown in inflation forecasts in April. Respondents to the survey said they see inflation at 6.3% 1-year from now. That was down 0.3% from March. But consumers still expect household spending to surge 8% over the next 12 months. 3-year inflation expectations increased by 0.2% in April to 3.9%.  <\/p>\n","protected":false},"author":41,"featured_media":61329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-61326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/61326","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=61326"}],"version-history":[{"count":3,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/61326\/revisions"}],"predecessor-version":[{"id":61331,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/61326\/revisions\/61331"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/61329"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=61326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=61326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=61326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}