{"id":64582,"date":"2022-10-25T08:57:54","date_gmt":"2022-10-25T12:57:54","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=64582"},"modified":"2022-10-25T08:57:54","modified_gmt":"2022-10-25T12:57:54","slug":"coffee-with-greta-traders-await-big-tech-earnings","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/10\/25\/coffee-with-greta-traders-await-big-tech-earnings\/","title":{"rendered":"Coffee With Greta: Traders Await Big Tech Earnings"},"content":{"rendered":"

DJIA Futures: <\/b>-161 (-0.5%)<\/span><\/p>\n

SPX Futures: <\/b>-14 (-0.4%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-15 (-0.1%)<\/span><\/p>\n

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

Futures are falling as traders digest a barrage of Q3 earnings and await big tech earnings later today.<\/span><\/p>\n

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

Coca-Cola Beats Q3 Expectations, Hikes Outlook<\/span><\/h2>\n

Coca-Cola <\/b>(KO) shares are up 2.4% ahead of the open after beating Q3 expectations and hiking its full-year outlook.\u00a0<\/span><\/p>\n

Here\u2019s how the beverage giant\u2019s results compared to analysts\u2019 expectations:<\/span><\/p>\n

    \n
  • Adjusted EPS: $0.69 vs $0.64 expected<\/span><\/li>\n
  • Revenue: $11.05 billion vs $10.52 billion expected<\/span><\/li>\n<\/ul>\n

    Sales rose 10% while organic revenue jumped 16%, field by higher prices for the company\u2019s products.\u00a0<\/span><\/p>\n

    Coke now expects comparable earnings growth of 6% to 7% this year vs 5% to 6% previously.\u00a0<\/span><\/p>\n

    UPS Reports Mixed Q3 Results<\/span><\/h2>\n

    UPS <\/b>(UPS) shares are up 2.6% in premarket trade after reporting mixed Q3 results.<\/span><\/p>\n

    Here\u2019s how the shipping giant\u2019s results compared to analysts\u2019 expectations:<\/span><\/p>\n

      \n
    • EPS: $2.99 vs $2.84 expected<\/span><\/li>\n
    • Revenue: $24.16 billion vs $24.30 billion expected<\/span><\/li>\n<\/ul>\n

      UPS reaffirmed its full-year outlook for revenue of $102 billion.<\/span><\/p>\n

      The company\u2019s shipping volumes decline in the quarter but that drop was partially offset by higher rates.<\/span><\/p>\n

      General Motors Crushes Q3 Profit Expectations<\/span><\/h2>\n

      General Motors <\/b>(GM) shares are up 3% ahead of the open after sharply beating Q3 earnings expectations.\u00a0<\/span><\/p>\n

      Here\u2019s how the automaker\u2019s results compared to analysts\u2019 estimates:<\/span><\/p>\n

        \n
      • Adjusted EPS: $2.25 vs $1.88 expected<\/span><\/li>\n
      • Revenue: $41.89 billion vs $42.22 billion expected<\/span><\/li>\n<\/ul>\n

        GM maintained its full-year guidance with the CFO saying the company expects to hit the \u201cmid-point\u201d of that outlook.\u00a0<\/span><\/p>\n

        In a letter to investors, CEO Mary Barra said \u201cdemand continues to be strong for GM products and we are actively managing the headwinds we face.\u201d<\/span><\/p>\n

        JetBlue Misses Q3 Profit Estimates<\/span><\/h2>\n

        JetBlue <\/b>(JBLU) shares are slipping 3.6% in premarket trade after missing Q3 profit expectations.\u00a0<\/span><\/p>\n

        Here\u2019s how the airline\u2019s results compared to analysts\u2019 estimates:<\/span><\/p>\n

          \n
        • Adjusted EPS: $0.21 vs $0.23 expected<\/span><\/li>\n
        • Revenue: $2.56 billion, in line with estimates<\/span><\/li>\n<\/ul>\n

          Revenue rose 30% year over year as travelers paid higher fares.\u00a0<\/span><\/p>\n

          But JetBlue\u2019s operating margin narrowed to 5.4% vs 9.4% a year ago as expenses surged 36%.<\/span><\/p>\n

          In a note to employees, the CFO said, \u201cwe have to continue to be thoughtful about every penny we spend, particularly in today\u2019s environment, since our entire business model of competing with lower fares is based on having lower costs relative to the legacy airlines.\u201d<\/span><\/p>\n

          She also said the airline won\u2019t post a full-year profit \u201cafter the bumps we faced in the first half of the year with the Omicron variant and operational challenges.\u201d<\/span><\/p>\n

          General Electric Jumps Despite Profit Miss<\/span><\/h2>\n

          General Electric <\/b>(GE) shares are up 1.9% ahead of the open despite missing Q3 expectations.<\/span><\/p>\n

          Here\u2019s how the company\u2019s results compared to analysts\u2019 expectations:<\/span><\/p>\n

            \n
          • Adjusted EPS: $0.35 vs $0.47 expected<\/span><\/li>\n
          • Revenue: $18.4 billion, in line with estimates<\/span><\/li>\n<\/ul>\n

            GE cut its full-year EPS outlook to between $2.40 and $2.80 vs $2.80 to $3.50 previously.\u00a0<\/span><\/p>\n

            That updated forecast includes a $500 million warranty charge in the company\u2019s renewable power division.\u00a0<\/span><\/p>\n

            The outlook implies $1.23 per share in Q4 earnings vs analysts\u2019 expectations for $1.17.<\/span><\/p>\n

            3M Slashes Outlook<\/span><\/h2>\n

            3M <\/b>(MMM) shares are slipping 2.9% in premarket trade after mixed Q3 results and cutting its full-year outlook.\u00a0<\/span><\/p>\n

            Here\u2019s how the company\u2019s results compared to analysts\u2019 estimates:<\/span><\/p>\n

              \n
            • EPS: $2.69 vs $2.60 expected<\/span><\/li>\n
            • Revenue: $8.6 billion vs $8.7 billion expected<\/span><\/li>\n<\/ul>\n

              3M now expects full-year EPS between $10.10 to $10.35 vs $10.30 to $10.80 previously.\u00a0<\/span><\/p>\n

              That implies roughly $8.1 billion in Q4 sales and $2.40 EPS vs Wall Street\u2019s expectations for $8.4 billion in revenue and EPS of $2.55.\u00a0<\/span><\/p>\n

              Key Earnings After the Close<\/span><\/h2>\n

              Here are the key companies set to report earnings after the close today:<\/span><\/b><\/p>\n

                \n
              • Microsoft <\/b>(MSFT)<\/span><\/li>\n
              • Alphabet <\/b>(GOOGL)<\/span><\/li>\n
              • Chipotle Mexican Grill <\/b>(CMG)<\/span><\/li>\n
              • Spotify <\/b>(SPOT)<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

                DJIA Futures: -161 (-0.5%) SPX Futures: -14 (-0.4%) NASDAQ Futures: -15 (-0.1%) Good morning friends! Futures are falling as traders digest a barrage of Q3 earnings and await big tech earnings later today. Let\u2019s get right to it! Coca-Cola Beats Q3 Expectations, Hikes Outlook Coca-Cola (KO) shares are up 2.4% ahead of the open after beating Q3 expectations and hiking its full-year outlook.\u00a0 Here\u2019s how the beverage giant\u2019s results compared to analysts\u2019 expectations: Adjusted EPS: $0.69 vs $0.64 expected Revenue: $11.05 billion vs $10.52 billion expected Sales rose 10% while organic revenue jumped 16%, field by higher prices for the company\u2019s products.\u00a0 Coke now expects comparable earnings growth of 6% to 7% this year vs 5% to 6% previously.\u00a0 UPS Reports Mixed Q3 Results UPS (UPS) shares are up 2.6% in premarket trade after reporting mixed Q3 results. Here\u2019s how the shipping giant\u2019s results compared to analysts\u2019 expectations: EPS: $2.99 vs $2.84 expected Revenue: $24.16 billion vs $24.30 billion expected UPS reaffirmed its full-year outlook for revenue of $102 billion. The company\u2019s shipping volumes decline in the quarter but that drop was partially offset by higher rates. General Motors Crushes Q3 Profit Expectations General Motors (GM) shares are up 3% ahead of the open after sharply beating Q3 earnings expectations.\u00a0 Here\u2019s how the automaker\u2019s results compared to analysts\u2019 estimates: Adjusted EPS: $2.25 vs $1.88 expected Revenue: $41.89 billion vs $42.22 billion expected GM maintained its full-year guidance with the CFO saying the company expects to hit the \u201cmid-point\u201d of that outlook.\u00a0 In a letter to investors, CEO Mary Barra said \u201cdemand continues to be strong for GM products and we are actively managing the headwinds we face.\u201d JetBlue Misses Q3 Profit Estimates JetBlue (JBLU) shares are slipping 3.6% in premarket trade after missing Q3 profit expectations.\u00a0 Here\u2019s how the airline\u2019s results compared to analysts\u2019 estimates: Adjusted EPS: $0.21 vs $0.23 expected Revenue: $2.56 billion, in line with estimates Revenue rose 30% year over year as travelers paid higher fares.\u00a0 But JetBlue\u2019s operating margin narrowed to 5.4% vs 9.4% a year ago as expenses surged 36%. In a note to employees, the CFO said, \u201cwe have to continue to be thoughtful about every penny we spend, particularly in today\u2019s environment, since our entire business model of competing with lower fares is based on having lower costs relative to the legacy airlines.\u201d She also said the airline won\u2019t post a full-year profit \u201cafter the bumps we faced in the first half of the year with the Omicron variant and operational challenges.\u201d General Electric Jumps Despite Profit Miss General Electric (GE) shares are up 1.9% ahead of the open despite missing Q3 expectations. Here\u2019s how the company\u2019s results compared to analysts\u2019 expectations: Adjusted EPS: $0.35 vs $0.47 expected Revenue: $18.4 billion, in line with estimates GE cut its full-year EPS outlook to between $2.40 and $2.80 vs $2.80 to $3.50 previously.\u00a0 That updated forecast includes a $500 million warranty charge in the company\u2019s renewable power division.\u00a0 The outlook implies $1.23 per share in Q4 earnings vs analysts\u2019 expectations for $1.17. 3M Slashes Outlook 3M (MMM) shares are slipping 2.9% in premarket trade after mixed Q3 results and cutting its full-year outlook.\u00a0 Here\u2019s how the company\u2019s results compared to analysts\u2019 estimates: EPS: $2.69 vs $2.60 expected Revenue: $8.6 billion vs $8.7 billion expected 3M now expects full-year EPS between $10.10 to $10.35 vs $10.30 to $10.80 previously.\u00a0 That implies roughly $8.1 billion in Q4 sales and $2.40 EPS vs Wall Street\u2019s expectations for $8.4 billion in revenue and EPS of $2.55.\u00a0 Key Earnings After the Close Here are the key companies set to report earnings after the close today: Microsoft (MSFT) Alphabet (GOOGL) Chipotle Mexican Grill (CMG) Spotify (SPOT)<\/p>\n","protected":false},"author":41,"featured_media":64586,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-64582","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\/64582","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=64582"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64582\/revisions"}],"predecessor-version":[{"id":64589,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64582\/revisions\/64589"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/64586"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=64582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=64582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=64582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}