{"id":64727,"date":"2022-10-28T08:52:41","date_gmt":"2022-10-28T12:52:41","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=64727"},"modified":"2022-10-28T08:52:41","modified_gmt":"2022-10-28T12:52:41","slug":"coffee-with-greta-inflation-is-still-hot","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/10\/28\/coffee-with-greta-inflation-is-still-hot\/","title":{"rendered":"Coffee With Greta: Inflation Is Still Hot"},"content":{"rendered":"

DJIA Futures: <\/b>+69 (+0.2%)<\/span><\/p>\n

SPX Futures: <\/b>-11 (-0.3%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-90 (-0.8%)<\/span><\/p>\n

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

Futures are mixed as traders digest new inflation data and <\/span>Amazon\u2019s <\/b>(AMZN) big Q3 miss puts more pressure on tech stocks.\u00a0<\/span><\/p>\n

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

PCE Inflation Is Still Hot<\/span><\/h2>\n

U.S. inflation pressures were still running hot in September as the Fed\u2019s rate hikes show no signs of slowing price gains.\u00a0<\/span><\/p>\n

The Bureau of Economic Analysis\u2019 personal consumption expenditures (PCE) price index rose 0.3% monthly and 5.1% year over year.\u00a0<\/span><\/p>\n

But it\u2019s not just high gas prices fueling those gains anymore.\u00a0<\/span><\/p>\n

The core PCE price index \u2013 which excludes food and energy prices \u2013 rose 0.5% monthly and 5.1% annually.\u00a0<\/span><\/p>\n

That was up from the 4.9% annual gain in August and that index is the Fed\u2019s preferred measure of inflation.<\/span><\/p>\n

Musk Cleans House at Twitter<\/span><\/h2>\n

Twitter <\/b>(TWTR) shares are up 0.3% in premarket trade after <\/span>Tesla <\/b>(TSLA) CEO Elon Musk closed his purchase of the company.\u00a0<\/span><\/p>\n

Musk reportedly took over at the social media giant Thursday night and quickly fired top executives.\u00a0<\/span><\/p>\n

CEO Parag Agrawal, CFO Ned Segal, and head of legal policy Vijaya Gadde were all reportedly fired upon the deal closing.<\/span><\/p>\n

Musk named himself CEO after making those moves.\u00a0<\/span><\/p>\n

He sent out a <\/span>tweet<\/span><\/a> after the deal closed, saying \u201cthe bird is freed\u201d.<\/span><\/p>\n

Amazon Craters on Revenue Miss, Disappointing Guidance<\/span><\/h2>\n

Amazon <\/b>(AMZN) shares are plunging 13.8% ahead of the open after missing Q3 revenue expectations and issuing disappointing Q4 guidance. <\/span>
\n<\/span>
\n<\/span>Here\u2019s how the tech giant\u2019s results compared to analysts\u2019 expectations:<\/span><\/p>\n

    \n
  • EPS: $0.28<\/span><\/li>\n
  • Revenue: $127.10 billion vs $127.46 billion expected<\/span><\/li>\n
  • Amazon Web Services Revenue: $20.5 billion vs $21.1 billion expected<\/span><\/li>\n
  • Ad Revenue: $9.55 billion vs $9.48 billion expected<\/span><\/li>\n<\/ul>\n

    Amazon expects Q4 revenue between $140 billion and $148 billion vs $155.15 expected.\u00a0<\/span><\/p>\n

    That\u2019s a disappointing outlook for the company\u2019s key holiday shopping quarter.\u00a0<\/span><\/p>\n

    Apple Tops Fiscal Q4 Expectations, iPhone Sales Fall Short\u00a0<\/span><\/h2>\n

    Apple <\/b>(AAPL) shares are up 0.3% in premarket trade after narrowly beating fiscal Q4 expectations.\u00a0<\/span><\/p>\n

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

      \n
    • EPS: $1.29 vs. $1.27 expected\u00a0<\/span><\/li>\n
    • Revenue: $90.15 billion vs. $88.90 billion expected<\/span><\/li>\n
    • iPhone revenue: $42.63 billion vs. $43.21 billion expected<\/span><\/li>\n
    • Mac revenue: $11.51 billion vs. $9.36 billion expected<\/span><\/li>\n
    • iPad revenue: $7.17 billion vs. $7.94 billion expected<\/span><\/li>\n
    • Other Products revenue: $9.65 billion vs. $9.17 billion expected<\/span><\/li>\n
    • Services revenue: $19.19 billion vs. $20.10 billion expected<\/span><\/li>\n
    • Gross margin: 42.3% vs. 42.1% expected<\/span><\/li>\n<\/ul>\n

      Apple did not provide official guidance for fiscal Q1, which is the company\u2019s biggest sales season of the year.\u00a0<\/span><\/p>\n

      But the CFO said the company expects slower annual revenue growth with Mac sales expected to decline year over year.\u00a0<\/span><\/p>\n

      Intel Beats Q3 Expectations<\/span><\/h2>\n

      Intel <\/b>(INTC) shares are rallying 6.7% ahead of the open after beating Q3 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

        \n
      • Adjusted EPS: $0.59 vs $0.32 expected<\/span><\/li>\n
      • Revenue: $15.34 billion vs $15.25 billion expected<\/span><\/li>\n<\/ul>\n


        \n<\/span>Revenue declined 15% year over year, improving from the 22% decline in Q2.\u00a0<\/span><\/p>\n

        Intel trimmed its full-year forecast, now expecting adjusted EPS of $1.95 and $63 billion to $64 billion in revenue.\u00a0<\/span><\/p>\n

        That\u2019s down from the prior forecast for $2.30 in adjusted EPS and $65 billion to $68 billion in revenue.\u00a0<\/span><\/p>\n

        Analysts were expecting guidance for $2.15 in adjusted EPS and $65.26 billion in sales.\u00a0<\/span><\/p>\n

        Intel\u2019s CEO said, \u201cWe are planning for the economic uncertainty to persist into 2023.\u201d<\/span><\/p>\n

        Amid that uncertainty, the company said it\u2019s aiming to reduce its cost of sales and operating expenses by $3 billion in 2023.\u00a0<\/span><\/p>\n

        Those annual savings are expected to reach $8 billion to $10 billion by the end of 2025.\u00a0<\/span><\/p>\n

        Pinterest Soars On Earnings Beat<\/span><\/h2>\n

        Pinterest <\/b>(PINS) shares are jumping 9.1% in premarket trade after beating Q3 estimates.<\/span><\/p>\n

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

        <\/span><\/p>\n

          \n
        • Adjusted EPS: $0.11 vs $0.06 expected<\/span><\/li>\n
        • Revenue: $684.6 million vs $666.7 million expected<\/span><\/li>\n<\/ul>\n

          Revenue was up 8% year over year while monthly average users remained flat.\u00a0<\/span><\/p>\n

          Pinterest expects Q4 revenue growth in the mid-single digits as it continues to face foreign exchange headwinds.\u00a0<\/span><\/p>\n

          Exxon Mobil Reports Record Profits<\/span><\/h2>\n

          Exxon Mobil <\/b>(XOM) shares are up 2.1% ahead of the open after reporting record profits in Q3.\u00a0<\/span><\/p>\n

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

            \n
          • EPS: $4.45 vs $3.86 expected<\/span><\/li>\n
          • Revenue: $112 billion vs $105 billion expected<\/span><\/li>\n<\/ul>\n

            Exxon\u2019s $18.7 billion profit was a new company record.\u00a0<\/span><\/p>\n

            It\u2019s the second quarter in a row of record earnings which has caused criticism from Democrats as Americans pay high gas prices at the pump.<\/span><\/p>\n

            Chevron Reports Near Record Profits<\/span><\/h2>\n

            Chevron <\/b>(CVX) shares are up 2.1% in premarket trade after reporting its second-highest quarterly profit ever in Q3.<\/span><\/p>\n

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

              \n
            • Adjusted EPS: $5.56 vs $4.89 expected<\/span><\/li>\n
            • Revenue: $66.6 billion vs $57.4 billion expected<\/span><\/li>\n<\/ul>\n

              Profits were up 90% year over year to $10.8 billion, down slightly from $11.4 billion in Q2.\u00a0<\/span><\/p>\n

              Chevron said higher oil and natural gas prices contributed to that surge.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

              DJIA Futures: +69 (+0.2%) SPX Futures: -11 (-0.3%) NASDAQ Futures: -90 (-0.8%) Good morning friends! Futures are mixed as traders digest new inflation data and Amazon\u2019s (AMZN) big Q3 miss puts more pressure on tech stocks.\u00a0 Let\u2019s get right to it! PCE Inflation Is Still Hot U.S. inflation pressures were still running hot in September as the Fed\u2019s rate hikes show no signs of slowing price gains.\u00a0 The Bureau of Economic Analysis\u2019 personal consumption expenditures (PCE) price index rose 0.3% monthly and 5.1% year over year.\u00a0 But it\u2019s not just high gas prices fueling those gains anymore.\u00a0 The core PCE price index \u2013 which excludes food and energy prices \u2013 rose 0.5% monthly and 5.1% annually.\u00a0 That was up from the 4.9% annual gain in August and that index is the Fed\u2019s preferred measure of inflation. Musk Cleans House at Twitter Twitter (TWTR) shares are up 0.3% in premarket trade after Tesla (TSLA) CEO Elon Musk closed his purchase of the company.\u00a0 Musk reportedly took over at the social media giant Thursday night and quickly fired top executives.\u00a0 CEO Parag Agrawal, CFO Ned Segal, and head of legal policy Vijaya Gadde were all reportedly fired upon the deal closing. Musk named himself CEO after making those moves.\u00a0 He sent out a tweet after the deal closed, saying \u201cthe bird is freed\u201d. Amazon Craters on Revenue Miss, Disappointing Guidance Amazon (AMZN) shares are plunging 13.8% ahead of the open after missing Q3 revenue expectations and issuing disappointing Q4 guidance. Here\u2019s how the tech giant\u2019s results compared to analysts\u2019 expectations: EPS: $0.28 Revenue: $127.10 billion vs $127.46 billion expected Amazon Web Services Revenue: $20.5 billion vs $21.1 billion expected Ad Revenue: $9.55 billion vs $9.48 billion expected Amazon expects Q4 revenue between $140 billion and $148 billion vs $155.15 expected.\u00a0 That\u2019s a disappointing outlook for the company\u2019s key holiday shopping quarter.\u00a0 Apple Tops Fiscal Q4 Expectations, iPhone Sales Fall Short\u00a0 Apple (AAPL) shares are up 0.3% in premarket trade after narrowly beating fiscal Q4 expectations.\u00a0 Here\u2019s how the iPhone maker\u2019s results compared to analysts\u2019 expectations: EPS: $1.29 vs. $1.27 expected\u00a0 Revenue: $90.15 billion vs. $88.90 billion expected iPhone revenue: $42.63 billion vs. $43.21 billion expected Mac revenue: $11.51 billion vs. $9.36 billion expected iPad revenue: $7.17 billion vs. $7.94 billion expected Other Products revenue: $9.65 billion vs. $9.17 billion expected Services revenue: $19.19 billion vs. $20.10 billion expected Gross margin: 42.3% vs. 42.1% expected Apple did not provide official guidance for fiscal Q1, which is the company\u2019s biggest sales season of the year.\u00a0 But the CFO said the company expects slower annual revenue growth with Mac sales expected to decline year over year.\u00a0 Intel Beats Q3 Expectations Intel (INTC) shares are rallying 6.7% ahead of the open after beating Q3 expectations on the top and bottom line.\u00a0 Here\u2019s how the chipmaker\u2019s results compared to analysts\u2019 estimates: Adjusted EPS: $0.59 vs $0.32 expected Revenue: $15.34 billion vs $15.25 billion expected Revenue declined 15% year over year, improving from the 22% decline in Q2.\u00a0 Intel trimmed its full-year forecast, now expecting adjusted EPS of $1.95 and $63 billion to $64 billion in revenue.\u00a0 That\u2019s down from the prior forecast for $2.30 in adjusted EPS and $65 billion to $68 billion in revenue.\u00a0 Analysts were expecting guidance for $2.15 in adjusted EPS and $65.26 billion in sales.\u00a0 Intel\u2019s CEO said, \u201cWe are planning for the economic uncertainty to persist into 2023.\u201d Amid that uncertainty, the company said it\u2019s aiming to reduce its cost of sales and operating expenses by $3 billion in 2023.\u00a0 Those annual savings are expected to reach $8 billion to $10 billion by the end of 2025.\u00a0 Pinterest Soars On Earnings Beat Pinterest (PINS) shares are jumping 9.1% in premarket trade after beating Q3 estimates. Here\u2019s how the social media company\u2019s results compared to analysts\u2019 expectations: Adjusted EPS: $0.11 vs $0.06 expected Revenue: $684.6 million vs $666.7 million expected Revenue was up 8% year over year while monthly average users remained flat.\u00a0 Pinterest expects Q4 revenue growth in the mid-single digits as it continues to face foreign exchange headwinds.\u00a0 Exxon Mobil Reports Record Profits Exxon Mobil (XOM) shares are up 2.1% ahead of the open after reporting record profits in Q3.\u00a0 Here\u2019s how the oil giant\u2019s results compared to analysts\u2019 expectations: EPS: $4.45 vs $3.86 expected Revenue: $112 billion vs $105 billion expected Exxon\u2019s $18.7 billion profit was a new company record.\u00a0 It\u2019s the second quarter in a row of record earnings which has caused criticism from Democrats as Americans pay high gas prices at the pump. Chevron Reports Near Record Profits Chevron (CVX) shares are up 2.1% in premarket trade after reporting its second-highest quarterly profit ever in Q3. Here\u2019s how the oil company\u2019s results compared to analysts\u2019 estimates: Adjusted EPS: $5.56 vs $4.89 expected Revenue: $66.6 billion vs $57.4 billion expected Profits were up 90% year over year to $10.8 billion, down slightly from $11.4 billion in Q2.\u00a0 Chevron said higher oil and natural gas prices contributed to that surge.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":64732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-64727","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\/64727","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=64727"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64727\/revisions"}],"predecessor-version":[{"id":64735,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64727\/revisions\/64735"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/64732"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=64727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=64727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=64727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}