{"id":65160,"date":"2022-11-18T08:59:06","date_gmt":"2022-11-18T13:59:06","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=65160"},"modified":"2022-11-18T08:59:06","modified_gmt":"2022-11-18T13:59:06","slug":"coffee-with-greta-ending-the-week-higher","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/11\/18\/coffee-with-greta-ending-the-week-higher\/","title":{"rendered":"Coffee With Greta: Ending the Week Higher"},"content":{"rendered":"

DJIA Futures: <\/b>+225 (+0.7%)<\/span><\/p>\n

SPX Futures: <\/b>+35 (+0.9%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+109 (+1%)<\/span><\/p>\n

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

Futures are higher as traders digest the latest batch of positive retail earnings and assess the Fed\u2019s plan for interest rates.<\/span><\/p>\n

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

Gap Rallies On Surprise Q3 Profit<\/span><\/h2>\n

Gap Inc <\/b>(GPS) shares are up 8.5% ahead of the open after reporting a surprise profit in the third quarter.\u00a0<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $0.71 vs $0.00 expected<\/span><\/li>\n
  • Revenue: $4.04 billion vs $3.82 billion expected<\/span><\/li>\n<\/ul>\n

    The company did not issue full-year guidance but said it expects overall net sales to be down mid-single digits yera-over-year in Q4.\u00a0<\/span><\/p>\n

    Gap made progress in reducing extra inventory last quarter but the CFO said the company will \u201ccontinue to take a prudent approach in light of the uncertain consumer and increasingly promotional environment as we look to the remainder of fiscal 2022.\u201d<\/span><\/p>\n

    Inventories were up 12% year over year in Q3 vs 37% in Q2 and 34% in Q1.\u00a0<\/span><\/p>\n

    Foot Locker Surges On Profit Beat<\/span><\/h2>\n

    Foot Locker <\/b>(FL) shares are surging 14% ahead of the open after beating Q3 expectations and hiking its full-year outlook.\u00a0<\/span><\/p>\n

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

      \n
    • Adjusted EPS: $1.27 vs $1.11 expected<\/span><\/li>\n
    • Revenue: $2.17 billion vs $2.09 billion expected<\/span><\/li>\n
    • Same-store sales: +0.8% vs -6% expected<\/span><\/li>\n<\/ul>\n

      Foot Locker reduced excess inventory with merchandise inventory up 29.5% year over year in Q3 vs 52.1% in Q2.\u00a0<\/span><\/p>\n

      The company forecast full-year adjusted EPS of $4.42 to $4.50 vs $4.25 to $4.45 previously.\u00a0<\/span><\/p>\n

      Foot Locker expects net sales to fall 4% to 5% vs 6% to 7% previously and same-store sales are expected to be down 4% to 5% vs 8% to 9% previously.\u00a0<\/span><\/p>\n

      Ross Stores Jumps On Upbeat Outlook<\/span><\/h2>\n

      Ross Stores <\/b>(ROST) shares are soaring 16.3% ahead of the open after topping Q3 estimates and raising its full-year guidance.\u00a0<\/span><\/p>\n

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

        \n
      • EPS: $1.00 vs $0.81 expected<\/span><\/li>\n
      • Revenue: $4.6 billion vs $4.37 billion expected<\/span><\/li>\n
      • Same-store sales: -3% vs -7.8% expected<\/span><\/li>\n<\/ul>\n

        Ross now expects full-year EPS of $4.21 to $4.34 compared to the prior forecast of $3.84 to $4.12.\u00a0<\/span><\/p>\n

        Same-store sales are expected to be flat to down 2% in Q4 with EPS of $1.13 to $1.26.\u00a0<\/span><\/p>\n

        That topped analysts\u2019 estimates for same-store sales to decline 4.6% and EPS of $1.13.\u00a0<\/span><\/p>\n

        Tesla Recalls 30,000 Vehicles<\/span><\/h2>\n

        Tesla <\/b>(TSLA) shares are up 1.1% in premarket trade despite the electric automaker recalling about 30,000 vehicles.\u00a0<\/span><\/p>\n

        That recall was issued due to a problem that may cause the front passenger air bag to deploy incorrectly in nearly 30,000 Model X vehicles.\u00a0<\/span><\/p>\n

        Tesla issued the recall voluntarily and said it is not aware of any crashes, injuries, or deaths related to the problem.\u00a0<\/span><\/p>\n

        The issue will be fixed through an over-the-air software update.\u00a0<\/span><\/p>\n

        Existing Home Sales On Deck<\/span><\/h2>\n

        The National Association of Realtors reports October existing home sales at 10:00 a.m. ET today.\u00a0<\/span><\/p>\n

        That report is expected to show sales fell to a seasonally adjusted annual rate of 4.37 million units last month from 4.71 million in September.\u00a0<\/span><\/p>\n

        The housing market has seen a steep decline in activity as mortgage rates surge.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

        DJIA Futures: +225 (+0.7%) SPX Futures: +35 (+0.9%) NASDAQ Futures: +109 (+1%) Good morning friends! Futures are higher as traders digest the latest batch of positive retail earnings and assess the Fed\u2019s plan for interest rates. Let\u2019s get right to it! Gap Rallies On Surprise Q3 Profit Gap Inc (GPS) shares are up 8.5% ahead of the open after reporting a surprise profit in the third quarter.\u00a0 Here\u2019s how the clothing retailer\u2019s results compared to analysts\u2019 expectations: Adjusted EPS: $0.71 vs $0.00 expected Revenue: $4.04 billion vs $3.82 billion expected The company did not issue full-year guidance but said it expects overall net sales to be down mid-single digits yera-over-year in Q4.\u00a0 Gap made progress in reducing extra inventory last quarter but the CFO said the company will \u201ccontinue to take a prudent approach in light of the uncertain consumer and increasingly promotional environment as we look to the remainder of fiscal 2022.\u201d Inventories were up 12% year over year in Q3 vs 37% in Q2 and 34% in Q1.\u00a0 Foot Locker Surges On Profit Beat Foot Locker (FL) shares are surging 14% ahead of the open after beating Q3 expectations and hiking its full-year outlook.\u00a0 Here\u2019s how the shoe retailer\u2019s results compared to analysts\u2019 estimates: Adjusted EPS: $1.27 vs $1.11 expected Revenue: $2.17 billion vs $2.09 billion expected Same-store sales: +0.8% vs -6% expected Foot Locker reduced excess inventory with merchandise inventory up 29.5% year over year in Q3 vs 52.1% in Q2.\u00a0 The company forecast full-year adjusted EPS of $4.42 to $4.50 vs $4.25 to $4.45 previously.\u00a0 Foot Locker expects net sales to fall 4% to 5% vs 6% to 7% previously and same-store sales are expected to be down 4% to 5% vs 8% to 9% previously.\u00a0 Ross Stores Jumps On Upbeat Outlook Ross Stores (ROST) shares are soaring 16.3% ahead of the open after topping Q3 estimates and raising its full-year guidance.\u00a0 Here\u2019s how the discount retailer\u2019s results compared to analysts\u2019 expectations: EPS: $1.00 vs $0.81 expected Revenue: $4.6 billion vs $4.37 billion expected Same-store sales: -3% vs -7.8% expected Ross now expects full-year EPS of $4.21 to $4.34 compared to the prior forecast of $3.84 to $4.12.\u00a0 Same-store sales are expected to be flat to down 2% in Q4 with EPS of $1.13 to $1.26.\u00a0 That topped analysts\u2019 estimates for same-store sales to decline 4.6% and EPS of $1.13.\u00a0 Tesla Recalls 30,000 Vehicles Tesla (TSLA) shares are up 1.1% in premarket trade despite the electric automaker recalling about 30,000 vehicles.\u00a0 That recall was issued due to a problem that may cause the front passenger air bag to deploy incorrectly in nearly 30,000 Model X vehicles.\u00a0 Tesla issued the recall voluntarily and said it is not aware of any crashes, injuries, or deaths related to the problem.\u00a0 The issue will be fixed through an over-the-air software update.\u00a0 Existing Home Sales On Deck The National Association of Realtors reports October existing home sales at 10:00 a.m. ET today.\u00a0 That report is expected to show sales fell to a seasonally adjusted annual rate of 4.37 million units last month from 4.71 million in September.\u00a0 The housing market has seen a steep decline in activity as mortgage rates surge.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":65163,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-65160","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\/65160","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=65160"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65160\/revisions"}],"predecessor-version":[{"id":65166,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65160\/revisions\/65166"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/65163"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=65160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=65160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=65160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}