{"id":65956,"date":"2023-01-20T08:56:55","date_gmt":"2023-01-20T13:56:55","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=65956"},"modified":"2023-01-20T08:58:13","modified_gmt":"2023-01-20T13:58:13","slug":"coffee-with-greta-netflix-subscribers-surge","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/01\/20\/coffee-with-greta-netflix-subscribers-surge\/","title":{"rendered":"Coffee With Greta: Netflix Subscribers Surge"},"content":{"rendered":"<p><b>DJIA Futures: <\/b><span style=\"font-weight: 400;\">-3 (-0.01%)<\/span><b>\u00a0<\/b><\/p>\n<p><b>SPX Futures: <\/b><span style=\"font-weight: 400;\">+9 (+0.2%)<\/span><\/p>\n<p><b>NASDAQ Futures: <\/b><span style=\"font-weight: 400;\">+72 (+0.6%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Good morning friends!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Futures are mostly higher as Netflix shares boost the tech sector.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s get right to it!<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Netflix Rallies As Subscribers Surge<\/span><\/h2>\n<p><b>Netflix <\/b><span style=\"font-weight: 400;\">(NFLX) shares are jumping 6.2% ahead of the open after sharply beating Q4 subscriber growth expectations.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how the streaming giant\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;\">EPS: $0.12 vs $0.45 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue: $7.85 billion as expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New global paid net subscribers: 7.66 million vs 4.57 million expected<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The profit miss was largely due to a loss related to euro-denominated debt but the company\u2019s 7% margins topped analysts\u2019 expectations.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Netflix also announced founder Reed Hastings will step down as CEO.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Hastings will remain with the company as executive chairman and co-CEO Ted Sarandos will remain in his position.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Current COO Greg Peters will take over Hastings\u2019 spot as co-CEO with Saranados.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Google Announces Layoffs, Delays Portion Of Bonuses<\/span><\/h2>\n<p><b>Alphabet <\/b><span style=\"font-weight: 400;\">(GOOGL) shares are up 3.2% in premarket trade after announcing layoffs this morning.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The tech giant\u2019s CEO Sundar Pichai sent an email to employees saying they plan to layoff 12,000 workers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Pichai said layoffs in the U.S. will begin immediately but \u201cwill take longer due to local law and practices\u201d in other countries.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">U.S.-based employees will receive 16 weeks of severance pay plus two weeks for each additional year they\u2019ve worked for Google.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company is also delaying a portion of its annual employee bonus checks.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Google employees usually receive their full bonus in January.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But now, the tech giant is paying full-time employees 80% of their bonus this month and the remaining 20% in March or April.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moving forward, full bonuses will be paid in March.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Nordstrom Sinks After Slashing Guidance After Weak Holiday Sales<\/span><\/h2>\n<p><b>Nordstrom <\/b><span style=\"font-weight: 400;\">(JNW) shares are falling 6.9% ahead of the open after reporting weak holiday sales and slashing its guidance.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The retailer said net sales dropped 3.5% year over year in the nine-week holiday shopping period that ended December 31.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nordstrom\u2019s net sales fell 1.7% while Nordstrom Rack sales tumbled 7.6%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Those weak sales caused the company to cut its earnings and margin expectations for the full fiscal year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nordstrom expects full-year revenue growth to be at the low end of its previously announced range of 5% to 7%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The retailer expected adjusted EPS to range between $1.50 and $1.70 vs $2.30 to $2.60 previously.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">CEO Erik Nordstrom said, \u201cWhile we continue to see greater resilience in our higher income cohorts, it is clear that consumers are being more selective with their spending given the broader macro environment.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company was also forced to mark down merchandise more than expected during the holiday season in order to clear excess inventory.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nordstrom reports Q4 results on March 2.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The disappointing holiday results from Nordstrom are dragging down other retail stocks in premarket trade.<\/span><\/p>\n<p><b>Macy\u2019s <\/b><span style=\"font-weight: 400;\">(M) is down 2.6%, <\/span><b>Kohl\u2019s <\/b><span style=\"font-weight: 400;\">(KSS) is falling 3.5%, and <\/span><b>Dillard\u2019s <\/b><span style=\"font-weight: 400;\">(DDS) is down 1.3%.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Existing Home Sales Expected To Fall<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The National Association of Realtors reports existing home sales for December at 10:00 a.m. ET.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That report is expected to show sales fell to a seasonally adjusted annual rate of 3.95 million units last month from 4.09 million in November.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That would be the 11th straight month of declining sales as the housing market has weakened due to higher mortgage rates.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Key Earnings Next Week<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Earnings season picks up steam next week with several key companies reporting. Here\u2019s a look at the highlights:<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tuesday AM: <\/span><b>3M <\/b><span style=\"font-weight: 400;\">(MMM), <\/span><b>Johnson & Johnson <\/b><span style=\"font-weight: 400;\">(J&J), <\/span><b>General Electric <\/b><span style=\"font-weight: 400;\">(GM)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tuesday PM: <\/span><b>Microsoft <\/b><span style=\"font-weight: 400;\">(MSFT)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Wednesday AM: <\/span><b>Boeing <\/b><span style=\"font-weight: 400;\">(BA), <\/span><b>Kimberly-Clark <\/b><span style=\"font-weight: 400;\">(KMB)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Wednesday PM: <\/span><b>Tesla <\/b><span style=\"font-weight: 400;\">(TSLA)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Thursday AM: <\/span><b>American Airlines <\/b><span style=\"font-weight: 400;\">(AAL)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Thursday PM: <\/span><b>Intel <\/b><span style=\"font-weight: 400;\">(INTC)\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Friday AM: <\/span><b>Chevron <\/b><span style=\"font-weight: 400;\">(CVX)<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">In Case You Missed It<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Fed Vice Chair Lael Brainard reiterated the bank\u2019s hawkish stance during a speech in Chicago on Thursday. Brainard said, \u201cEven with the recent moderation, inflation remains high, and policy will need to be sufficiently restrictive for some time to make sure inflation returns to 2% on a sustained basis.\u201d Her comments echo other recent speeches from Fed officials insisting they will stick to plans to maintain high rates through early 2024. The comments have prompted fears on Wall Street that the bank will overtighten and send the U.S. economy into a deep recession.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Treasury Department began taking \u201cextraordinary measures\u201d as the U.S. hit its $31.4 trillion debt limit. Treasury Secretary Janet Yellen said the department should be able to pay the U.S. government\u2019s bills through June. She is pushing Congress to raise the debt ceiling \u201cwithout concession\u201d. But many House Republicans have suggested they will push for spending cuts as part of the debt ceiling bill.\u00a0<\/span><\/li>\n<\/ul>\n<p>Want to hear insight from pro traders about this market? Register for my upcoming virtual live event: <a href=\"https:\/\/www.linkedin.com\/video\/event\/urn:li:ugcPost:7021578683958116352\/\">Conversations With A Pro Trader<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DJIA Futures: -3 (-0.01%)\u00a0 SPX Futures: +9 (+0.2%) NASDAQ Futures: +72 (+0.6%) Good morning friends! Futures are mostly higher as Netflix shares boost the tech sector. Let\u2019s get right to it! Netflix Rallies As Subscribers Surge Netflix (NFLX) shares are jumping 6.2% ahead of the open after sharply beating Q4 subscriber growth expectations.\u00a0 Here\u2019s how the streaming giant\u2019s results compared to analysts\u2019 estimates: EPS: $0.12 vs $0.45 expected Revenue: $7.85 billion as expected New global paid net subscribers: 7.66 million vs 4.57 million expected The profit miss was largely due to a loss related to euro-denominated debt but the company\u2019s 7% margins topped analysts\u2019 expectations.\u00a0 Netflix also announced founder Reed Hastings will step down as CEO.\u00a0 Hastings will remain with the company as executive chairman and co-CEO Ted Sarandos will remain in his position.\u00a0 Current COO Greg Peters will take over Hastings\u2019 spot as co-CEO with Saranados. Google Announces Layoffs, Delays Portion Of Bonuses Alphabet (GOOGL) shares are up 3.2% in premarket trade after announcing layoffs this morning.\u00a0 The tech giant\u2019s CEO Sundar Pichai sent an email to employees saying they plan to layoff 12,000 workers.\u00a0 Pichai said layoffs in the U.S. will begin immediately but \u201cwill take longer due to local law and practices\u201d in other countries.\u00a0 U.S.-based employees will receive 16 weeks of severance pay plus two weeks for each additional year they\u2019ve worked for Google.\u00a0 The company is also delaying a portion of its annual employee bonus checks.\u00a0 Google employees usually receive their full bonus in January.\u00a0 But now, the tech giant is paying full-time employees 80% of their bonus this month and the remaining 20% in March or April.\u00a0 Moving forward, full bonuses will be paid in March.\u00a0 Nordstrom Sinks After Slashing Guidance After Weak Holiday Sales Nordstrom (JNW) shares are falling 6.9% ahead of the open after reporting weak holiday sales and slashing its guidance.\u00a0 The retailer said net sales dropped 3.5% year over year in the nine-week holiday shopping period that ended December 31.\u00a0 Nordstrom\u2019s net sales fell 1.7% while Nordstrom Rack sales tumbled 7.6%.\u00a0 Those weak sales caused the company to cut its earnings and margin expectations for the full fiscal year.\u00a0 Nordstrom expects full-year revenue growth to be at the low end of its previously announced range of 5% to 7%.\u00a0 The retailer expected adjusted EPS to range between $1.50 and $1.70 vs $2.30 to $2.60 previously.\u00a0 CEO Erik Nordstrom said, \u201cWhile we continue to see greater resilience in our higher income cohorts, it is clear that consumers are being more selective with their spending given the broader macro environment.\u201d The company was also forced to mark down merchandise more than expected during the holiday season in order to clear excess inventory. Nordstrom reports Q4 results on March 2. The disappointing holiday results from Nordstrom are dragging down other retail stocks in premarket trade. Macy\u2019s (M) is down 2.6%, Kohl\u2019s (KSS) is falling 3.5%, and Dillard\u2019s (DDS) is down 1.3%. Existing Home Sales Expected To Fall The National Association of Realtors reports existing home sales for December at 10:00 a.m. ET. That report is expected to show sales fell to a seasonally adjusted annual rate of 3.95 million units last month from 4.09 million in November.\u00a0 That would be the 11th straight month of declining sales as the housing market has weakened due to higher mortgage rates.\u00a0 Key Earnings Next Week Earnings season picks up steam next week with several key companies reporting. Here\u2019s a look at the highlights: Tuesday AM: 3M (MMM), Johnson &#038; Johnson (J&#038;J), General Electric (GM) Tuesday PM: Microsoft (MSFT) Wednesday AM: Boeing (BA), Kimberly-Clark (KMB) Wednesday PM: Tesla (TSLA) Thursday AM: American Airlines (AAL) Thursday PM: Intel (INTC)\u00a0 Friday AM: Chevron (CVX) In Case You Missed It Fed Vice Chair Lael Brainard reiterated the bank\u2019s hawkish stance during a speech in Chicago on Thursday. Brainard said, \u201cEven with the recent moderation, inflation remains high, and policy will need to be sufficiently restrictive for some time to make sure inflation returns to 2% on a sustained basis.\u201d Her comments echo other recent speeches from Fed officials insisting they will stick to plans to maintain high rates through early 2024. The comments have prompted fears on Wall Street that the bank will overtighten and send the U.S. economy into a deep recession.\u00a0 The Treasury Department began taking \u201cextraordinary measures\u201d as the U.S. hit its $31.4 trillion debt limit. Treasury Secretary Janet Yellen said the department should be able to pay the U.S. government\u2019s bills through June. She is pushing Congress to raise the debt ceiling \u201cwithout concession\u201d. But many House Republicans have suggested they will push for spending cuts as part of the debt ceiling bill.\u00a0 Want to hear insight from pro traders about this market? Register for my upcoming virtual live event: Conversations With A Pro Trader!<\/p>\n","protected":false},"author":41,"featured_media":65958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-65956","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\/65956","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=65956"}],"version-history":[{"count":4,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65956\/revisions"}],"predecessor-version":[{"id":65967,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/65956\/revisions\/65967"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/65958"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=65956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=65956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=65956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}