{"id":64468,"date":"2022-10-18T09:05:48","date_gmt":"2022-10-18T13:05:48","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=64468"},"modified":"2022-10-18T09:05:48","modified_gmt":"2022-10-18T13:05:48","slug":"coffee-with-greta-stocks-extend-rally-on-strong-earnings","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/10\/18\/coffee-with-greta-stocks-extend-rally-on-strong-earnings\/","title":{"rendered":"Coffee With Greta: Stocks Extend Rally On Strong Earnings"},"content":{"rendered":"<p><b>DJIA Futures: <\/b><span style=\"font-weight: 400;\">+622 (+2.1%)<\/span><\/p>\n<p><b>SPX Futures: <\/b><span style=\"font-weight: 400;\">+82 (+2.2%)<\/span><\/p>\n<p><b>NASDAQ Futures: <\/b><span style=\"font-weight: 400;\">+269 (+2.4%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Good morning friends!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Futures are rallying following a series of strong earnings reports this morning.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s get right to it!<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Goldman Sachs Rallies On Earnings Beat<\/span><\/h2>\n<p><b>Goldman Sachs <\/b><span style=\"font-weight: 400;\">(GS) shares are up 3.3% ahead of the open after topping Q3 expectations on the top and bottom line.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how the investment bank\u2019s results compared to analysts\u2019 expectations:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">EPS: $8.25 vs $7.69 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue: $11.98 billion vs $11.41 billion expected<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Profit was down 43% year over year while revenue fell 12%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Both fixed-income and equities trading revenue topped expectations, offsetting a miss in investment banking revenue.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Goldman\u2019s asset management and consumer & wealth management divisions also beat estimates.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">CEO David Solomon officially announced a corporate reorganization that was reported earlier this week.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He said, \u201cToday, we enter the next phase of our growth, introducing a realignment of our businesses that will enable us to further capitalize on the predominant operating model of One Goldman Sachs. We are confident that our strategic evolution will drive higher, more durable returns and unlock long-term value for shareholders.\u201d<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Hasbro Earnings Squeezed By Inflation<\/span><\/h2>\n<p><b>Hasbro <\/b><span style=\"font-weight: 400;\">(HAS) shares are slipping 0.6% in premarket trade after reporting mixed Q3 results.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how the toy maker\u2019s results compared to analysts\u2019 expectations:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Adjusted EPS: $1.42 vs $1.52 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue: $1.68 billion, in line with estimates<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The CEO said Hasbro\u2019s third quarter \u201cwas further impacted by increasing price sensitivity for the average consumer\u201d as high prices squeeze buyers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company maintained its full-year forecast for revenue growth to be flat or slightly down.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Albertsons Beats Fiscal Q2 Estimates<\/span><\/h2>\n<p><b>Albertsons <\/b><span style=\"font-weight: 400;\">(ACI) shares are up 1% ahead of the open after beating fiscal Q2 expectations on the top and bottom line.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how the grocery chain\u2019s results compared to analysts\u2019 expectations:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Adjusted EPS: $0.72 vs $0.65 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue: $17.92 billion vs $17.71 billion expected.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Revenue was up 8.6% year over year while same-store sales jumped 7.4%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But the cost of sales surged 9.6% and Albertsons\u2019 gross margin contracted to 27.9% to 28.6%.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Johnson & Johnson Tops Q3 Expectations, Trims Sales Guidance<\/span><\/h2>\n<p><b>Johnson & Johnson <\/b><span style=\"font-weight: 400;\">(JNJ) shares are up 1.3% in premarket trade after beating Q3 expectations.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how the pharmaceutical giant\u2019s results compared to analysts\u2019 expectations:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Adjusted EPS: $2.55 vs $2.48 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue: $23.8 billion vs $23.4 billion expected<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Johnson & Johnson forecast full-year sales between $93 billion to $93.5 billion, down from $93.3 billion to $94.3 billion previously.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company expects full-year adjusted EPS of $10.02 to $10.07 vs $10 to $10.10 previously.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Microsoft Confirms Job Cuts<\/span><\/h2>\n<p><b>Microsoft <\/b><span style=\"font-weight: 400;\">(MSFT) shares are up 2.4% ahead of the open after a company spokesperson confirmed recent job cuts.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The spokesperson told <\/span><a href=\"https:\/\/www.cnbc.com\/2022\/10\/18\/microsoft-confirms-job-cuts-after-calling-for-growth-to-slow.html\"><span style=\"font-weight: 400;\">CNBC<\/span><\/a><span style=\"font-weight: 400;\">, \u201cLike all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly. We will continue to invest in our business and hire in key growth areas in the year ahead.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Those cuts were first reported by Axios and impacted fewer than 1,000 people.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Salesforce Rallies On New Investor Stake<\/span><\/h2>\n<p><b>Salesforce <\/b><span style=\"font-weight: 400;\">(CRM) shares are up 6.5% in premarket trade after activist investor Starboard Value LP unveiled a stake in the company.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2022\/10\/18\/activist-investor-starboard-reveals-stake-in-salesforce-sees-significant-opportunity.html\"><span style=\"font-weight: 400;\">CNBC<\/span><\/a><span style=\"font-weight: 400;\"> reported Starboard\u2019s founder said he sees significant opportunity in the software maker.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He did not specify the dollar amount of his stake but said it is significant.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Homebuilder Sentiment Expected to Fall<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The National Association of Homebuilders releases its sentiment index for October at 10:00 a.m. ET.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That index is expected to fall 2 points to 44, as high mortgage rates continue to squeeze builders.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That would be the 10th straight monthly decline with anything under 50 considered negative.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Upcoming Earnings<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Here are the key companies set to report earnings after the market close today:<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>Netflix <\/b><span style=\"font-weight: 400;\">(NFLX)<\/span><\/li>\n<li aria-level=\"1\"><b>United Airlines <\/b><span style=\"font-weight: 400;\">(UAL)<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>DJIA Futures: +622 (+2.1%) SPX Futures: +82 (+2.2%) NASDAQ Futures: +269 (+2.4%) Good morning friends! Futures are rallying following a series of strong earnings reports this morning. Let\u2019s get right to it! Goldman Sachs Rallies On Earnings Beat Goldman Sachs (GS) shares are up 3.3% ahead of the open after topping Q3 expectations on the top and bottom line.\u00a0 Here\u2019s how the investment bank\u2019s results compared to analysts\u2019 expectations: EPS: $8.25 vs $7.69 expected Revenue: $11.98 billion vs $11.41 billion expected Profit was down 43% year over year while revenue fell 12%.\u00a0 Both fixed-income and equities trading revenue topped expectations, offsetting a miss in investment banking revenue. Goldman\u2019s asset management and consumer &#038; wealth management divisions also beat estimates. CEO David Solomon officially announced a corporate reorganization that was reported earlier this week.\u00a0 He said, \u201cToday, we enter the next phase of our growth, introducing a realignment of our businesses that will enable us to further capitalize on the predominant operating model of One Goldman Sachs. We are confident that our strategic evolution will drive higher, more durable returns and unlock long-term value for shareholders.\u201d Hasbro Earnings Squeezed By Inflation Hasbro (HAS) shares are slipping 0.6% in premarket trade after reporting mixed Q3 results.\u00a0 Here\u2019s how the toy maker\u2019s results compared to analysts\u2019 expectations: Adjusted EPS: $1.42 vs $1.52 expected Revenue: $1.68 billion, in line with estimates The CEO said Hasbro\u2019s third quarter \u201cwas further impacted by increasing price sensitivity for the average consumer\u201d as high prices squeeze buyers. The company maintained its full-year forecast for revenue growth to be flat or slightly down. Albertsons Beats Fiscal Q2 Estimates Albertsons (ACI) shares are up 1% ahead of the open after beating fiscal Q2 expectations on the top and bottom line.\u00a0 Here\u2019s how the grocery chain\u2019s results compared to analysts\u2019 expectations: Adjusted EPS: $0.72 vs $0.65 expected Revenue: $17.92 billion vs $17.71 billion expected.\u00a0 Revenue was up 8.6% year over year while same-store sales jumped 7.4%. But the cost of sales surged 9.6% and Albertsons\u2019 gross margin contracted to 27.9% to 28.6%. Johnson &#038; Johnson Tops Q3 Expectations, Trims Sales Guidance Johnson &#038; Johnson (JNJ) shares are up 1.3% in premarket trade after beating Q3 expectations.\u00a0 Here\u2019s how the pharmaceutical giant\u2019s results compared to analysts\u2019 expectations: Adjusted EPS: $2.55 vs $2.48 expected Revenue: $23.8 billion vs $23.4 billion expected Johnson &#038; Johnson forecast full-year sales between $93 billion to $93.5 billion, down from $93.3 billion to $94.3 billion previously.\u00a0 The company expects full-year adjusted EPS of $10.02 to $10.07 vs $10 to $10.10 previously.\u00a0 Microsoft Confirms Job Cuts Microsoft (MSFT) shares are up 2.4% ahead of the open after a company spokesperson confirmed recent job cuts.\u00a0 The spokesperson told CNBC, \u201cLike all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly. We will continue to invest in our business and hire in key growth areas in the year ahead.\u201d Those cuts were first reported by Axios and impacted fewer than 1,000 people. Salesforce Rallies On New Investor Stake Salesforce (CRM) shares are up 6.5% in premarket trade after activist investor Starboard Value LP unveiled a stake in the company.\u00a0 CNBC reported Starboard\u2019s founder said he sees significant opportunity in the software maker.\u00a0 He did not specify the dollar amount of his stake but said it is significant.\u00a0 Homebuilder Sentiment Expected to Fall The National Association of Homebuilders releases its sentiment index for October at 10:00 a.m. ET.\u00a0 That index is expected to fall 2 points to 44, as high mortgage rates continue to squeeze builders.\u00a0 That would be the 10th straight monthly decline with anything under 50 considered negative.\u00a0 Upcoming Earnings Here are the key companies set to report earnings after the market close today: Netflix (NFLX) United Airlines (UAL)<\/p>\n","protected":false},"author":41,"featured_media":64472,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-64468","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\/64468","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=64468"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64468\/revisions"}],"predecessor-version":[{"id":64475,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64468\/revisions\/64475"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/64472"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=64468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=64468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=64468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}