{"id":64976,"date":"2022-11-09T09:04:29","date_gmt":"2022-11-09T14:04:29","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=64976"},"modified":"2022-11-09T09:04:29","modified_gmt":"2022-11-09T14:04:29","slug":"coffee-with-greta-election-question-weighs-on-stocks","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/11\/09\/coffee-with-greta-election-question-weighs-on-stocks\/","title":{"rendered":"Coffee With Greta: Election Question Weighs on Stocks"},"content":{"rendered":"<p><b>DJIA Futures: <\/b><span style=\"font-weight: 400;\">-124 (-0.4%)<\/span><\/p>\n<p><b>SPX Futures: <\/b><span style=\"font-weight: 400;\">-13 (-0.3%)<\/span><\/p>\n<p><b>NASDAQ Futures: <\/b><span style=\"font-weight: 400;\">-46 (-0.4%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Good morning friends!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Futures are falling as it remains unclear which party will control Congress after Tuesday\u2019s midterm elections.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s get right to it!<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Disney Slumps On Profit Miss<\/span><\/h2>\n<p><b>Walt Disney <\/b><span style=\"font-weight: 400;\">(DIS) shares are dropping 8.1% ahead of the open after missing fiscal Q4 profit expectations.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how the company\u2019s results compared to analysts\u2019 estimates:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Adjusted EPS: $0.30 vs $0.55 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue: $20.15 billion vs $21.24 billion expected<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The company saw revenue growth of 22% in fiscal 2022 and forecast growth of less than 10% in fiscal 2023.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Revenue in Disney\u2019s key media and entertainment division fell 3% year over year to $12.7 billion in fiscal Q4, missing expectations for $13.9 billion.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Its streaming platform Disney+ grew more than expected, adding 12.1 million subscribers during the quarter.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That put total subscribers at 164.2 million vs 160.45 million expected.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But Disney warned that growth is expected to slow in fiscal Q1.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Disney reported record revenue of $7.4 billion in its parks, experiences, and products segment.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That was up 34% year over year but shy of analysts\u2019 expectations for $7.5 billion.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">AMC Losses Widen<\/span><\/h2>\n<p><b>AMC Entertainment <\/b><span style=\"font-weight: 400;\">(AMC) shares are falling 3.7% in premarket trade after reporting losses in Q3.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how the theater 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 loss per share: $0.20 vs $0.23 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue: $968.4 million vs $961 million<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Although those results were better than expected, it was the 12th consecutive quarterly loss for the company.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">AMC reported an adjusted EBITDA loss of $12.9 million vs $5.4 million a year ago.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">CEO Adam Aron said, \u201cOur third-quarter results were impacted by a particularly soft industry-wide box office in the latter two-thirds of the 2022 third quarter.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The losses come as AMC\u2019s spending on food and beverages jumped 30% compared to Q3 2019.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Roblox Sinks On Big Q3 Loss<\/span><\/h2>\n<p><b>Roblox <\/b><span style=\"font-weight: 400;\">(RBLX) shares are tumbling 15.5% ahead of the open after reporting a wider Q3 loss than analysts anticipated.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how the company\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;\">Loss per share: $0.50 vs $0.35 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue\/Bookings: $702 million vs $686 million expected<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Bookings were up 10% year over year with average daily active users rising 24% to 58.8 million.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But average bookings per daily active user fell 11% to $11.94.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Lucid Reservations Drop<\/span><\/h2>\n<p><b>Lucid Group <\/b><span style=\"font-weight: 400;\">(LCID) shares are falling 7.8% in premarket trade after missing Q3 expectations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how the electric automaker\u2019s results compared to analysts\u2019 estimates:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Loss per share: $0.40 vs $0.31 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue: $195.5 million vs $209 million expected<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Revenue was down from $232 million in Q3 2021.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Lucid said it has more than 34,000 reservations for its Lucid Air EV, down from the 37,000 it reported after Q2.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company said it is on track to meet its 2022 production target of 6,000 to 7,000 vehicles.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Lucid also announced it will open reservations for its second vehicle, an SUV, in early 2023.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Meta Announces Mass Layoffs<\/span><\/h2>\n<p><b>Meta Platforms <\/b><span style=\"font-weight: 400;\">(META) shares are up 4.5% after the company announced mass layoffs this morning.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a <\/span><a href=\"https:\/\/about.fb.com\/news\/2022\/11\/mark-zuckerberg-layoff-message-to-employees\/\"><span style=\"font-weight: 400;\">letter to employees<\/span><\/a><span style=\"font-weight: 400;\">, CEO Mark Zuckerberg said, \u201cI\u2019ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Zuckerberg also said Meta is cutting discretionary spending and extending its hiring freeze through Q1 2023.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He said the recruiting department will see the largest impact from those moves.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Key Earnings After The Close<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Here are the companies scheduled to report Q3 earnings after the close today:<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>Rivian <\/b><span style=\"font-weight: 400;\">(RIVN)<\/span><\/li>\n<li aria-level=\"1\"><b>Unity Software <\/b><span style=\"font-weight: 400;\">(U)<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>DJIA Futures: -124 (-0.4%) SPX Futures: -13 (-0.3%) NASDAQ Futures: -46 (-0.4%) Good morning friends! Futures are falling as it remains unclear which party will control Congress after Tuesday\u2019s midterm elections.\u00a0 Let\u2019s get right to it! Disney Slumps On Profit Miss Walt Disney (DIS) shares are dropping 8.1% ahead of the open after missing fiscal Q4 profit expectations.\u00a0 Here\u2019s how the company\u2019s results compared to analysts\u2019 estimates: Adjusted EPS: $0.30 vs $0.55 expected Revenue: $20.15 billion vs $21.24 billion expected The company saw revenue growth of 22% in fiscal 2022 and forecast growth of less than 10% in fiscal 2023.\u00a0 Revenue in Disney\u2019s key media and entertainment division fell 3% year over year to $12.7 billion in fiscal Q4, missing expectations for $13.9 billion.\u00a0 Its streaming platform Disney+ grew more than expected, adding 12.1 million subscribers during the quarter.\u00a0 That put total subscribers at 164.2 million vs 160.45 million expected. But Disney warned that growth is expected to slow in fiscal Q1. Disney reported record revenue of $7.4 billion in its parks, experiences, and products segment.\u00a0 That was up 34% year over year but shy of analysts\u2019 expectations for $7.5 billion. AMC Losses Widen AMC Entertainment (AMC) shares are falling 3.7% in premarket trade after reporting losses in Q3. Here\u2019s how the theater chain\u2019s results compared to analysts\u2019 expectations: Adjusted loss per share: $0.20 vs $0.23 expected Revenue: $968.4 million vs $961 million Although those results were better than expected, it was the 12th consecutive quarterly loss for the company.\u00a0 AMC reported an adjusted EBITDA loss of $12.9 million vs $5.4 million a year ago. CEO Adam Aron said, \u201cOur third-quarter results were impacted by a particularly soft industry-wide box office in the latter two-thirds of the 2022 third quarter.\u201d The losses come as AMC\u2019s spending on food and beverages jumped 30% compared to Q3 2019.\u00a0 Roblox Sinks On Big Q3 Loss Roblox (RBLX) shares are tumbling 15.5% ahead of the open after reporting a wider Q3 loss than analysts anticipated.\u00a0 Here\u2019s how the company\u2019s results compared to analysts\u2019 expectations: Loss per share: $0.50 vs $0.35 expected Revenue\/Bookings: $702 million vs $686 million expected Bookings were up 10% year over year with average daily active users rising 24% to 58.8 million.\u00a0 But average bookings per daily active user fell 11% to $11.94.\u00a0 Lucid Reservations Drop Lucid Group (LCID) shares are falling 7.8% in premarket trade after missing Q3 expectations. Here\u2019s how the electric automaker\u2019s results compared to analysts\u2019 estimates: Loss per share: $0.40 vs $0.31 expected Revenue: $195.5 million vs $209 million expected Revenue was down from $232 million in Q3 2021.\u00a0 Lucid said it has more than 34,000 reservations for its Lucid Air EV, down from the 37,000 it reported after Q2. The company said it is on track to meet its 2022 production target of 6,000 to 7,000 vehicles.\u00a0 Lucid also announced it will open reservations for its second vehicle, an SUV, in early 2023.\u00a0 Meta Announces Mass Layoffs Meta Platforms (META) shares are up 4.5% after the company announced mass layoffs this morning.\u00a0 In a letter to employees, CEO Mark Zuckerberg said, \u201cI\u2019ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go.\u201d Zuckerberg also said Meta is cutting discretionary spending and extending its hiring freeze through Q1 2023.\u00a0 He said the recruiting department will see the largest impact from those moves.\u00a0 Key Earnings After The Close Here are the companies scheduled to report Q3 earnings after the close today: Rivian (RIVN) Unity Software (U)<\/p>\n","protected":false},"author":41,"featured_media":64979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-64976","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\/64976","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=64976"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64976\/revisions"}],"predecessor-version":[{"id":64980,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64976\/revisions\/64980"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/64979"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=64976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=64976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=64976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}