{"id":66183,"date":"2023-02-06T09:03:02","date_gmt":"2023-02-06T14:03:02","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=66183"},"modified":"2023-02-06T09:03:02","modified_gmt":"2023-02-06T14:03:02","slug":"coffee-with-greta-new-week-kicks-off","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/02\/06\/coffee-with-greta-new-week-kicks-off\/","title":{"rendered":"Coffee With Greta: New Week Kicks Off"},"content":{"rendered":"<p><b>DJIA Futures: <\/b><span style=\"font-weight: 400;\">-197 (-0.6%)<\/span><\/p>\n<p><b>SPX Futures: <\/b><span style=\"font-weight: 400;\">-35 (-0.8%)<\/span><\/p>\n<p><b>NASDAQ Futures: <\/b><span style=\"font-weight: 400;\">-142 (-1.1%)<\/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 traders look ahead to a busy week of earnings and an upcoming speech by Fed Chair Jerome Powell.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s get right to it!<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Tyson Shares Slides As Earnings Miss<\/span><\/h2>\n<p><b>Tyson Foods <\/b><span style=\"font-weight: 400;\">(TSN) shares are falling 4.8% ahead of the open after missing fiscal Q1 expectations on the top and bottom line.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how the meat processing company\u2019s results compared to analysts\u2019 expectations:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Adjusted EPS $0.85 vs $1.31 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue: $12.93 billion vs $13.52 billion expected<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The CEO said, \u201cWe faced some challenges in the first quarter. Market dynamics and some operational inefficiencies impacted our profitability.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Beef sales dropped to $4.72 billion from $5 billion a year ago while pork sales fell to $1.53 billion from $1.63 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tyson expects those sales declines to continue into the full year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company said, \u201cFor fiscal 2023, the United States Department of Agriculture (USDA) indicates domestic protein production (beef, pork, chicken and turkey) should be relatively flat compared to fiscal 2022 level.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tyson forecast fiscal 2023 sales to total between $55 billion and $57 billion vs analysts\u2019 estimates of $55.19 billion.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Dell Announces Layoffs<\/span><\/h2>\n<p><b>Dell Technologies <\/b><span style=\"font-weight: 400;\">(DELL) shares are up 1.9% in premarket trade after announcing layoffs this morning.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A new <\/span><a href=\"https:\/\/investors.delltechnologies.com\/static-files\/d7044933-d08d-4393-a818-138b540e64d5\"><span style=\"font-weight: 400;\">SEC filing<\/span><\/a><span style=\"font-weight: 400;\"> shows the PC company plans to layoff 5% of its workforce.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That would impact about 6,650 employees.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a <\/span><a href=\"https:\/\/www.dell.com\/en-us\/blog\/preparing-for-the-road-ahead\/?cjevent=5f06e9a4a62011ed832d02060a82b82d&amp;dgc=CJ&amp;publisherid=5040886&amp;publisher=&amp;aff=Vox+Media&amp;affid=5040886&amp;aff_webid=8532386&amp;aff_user_id=___vg__p_23351442__m_social__s_twitter__t_w__c_theverge__d_D&amp;cjdata=MXxOfDB8WXww&amp;gacd=9684992-28463632-5750457-345576786-177846717&amp;dgc=af&amp;VEN1=12839518-8532386-___vg__p_23351442__m_social__s_twitter__t_w__c_theverge__d_D-Vox%20Media&amp;dclid=CjkKEQiA54KfBhDL5t7i4Z_yiJ4BEiQA0woSBSdc1XTezAKOgU7HLqy9Lv6OsZc9vD55TRTUDRVt1dzw_wcB&amp;nclid=MvOnNa6W9RGmr9gRXtL4gy23i0znX8hxL83PupHlcrKsXkQ4KuvFJlDBMDHYSiNO\"><span style=\"font-weight: 400;\">memo to employees<\/span><\/a><span style=\"font-weight: 400;\">, the company\u2019s co-COO said, \u201cThere is no tougher decision, but one we had to make for our long-term health and success.\u201d\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Earnings In Focus<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">This will be a quieter week of economic data with the market\u2019s main focus being on earnings.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s a look at some of the companies scheduled to report this week:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Monday PM: <\/span><b>Activision Blizzer <\/b><span style=\"font-weight: 400;\">(ATVI), <\/span><b>Pinterest <\/b><span style=\"font-weight: 400;\">(PINS), <\/span><b>Spirit Airlines <\/b><span style=\"font-weight: 400;\">(SAVE)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tuesday PM: <\/span><b>Chipotle <\/b><span style=\"font-weight: 400;\">(CMG)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Wednesday AM: <\/span><b>CVS <\/b><span style=\"font-weight: 400;\">(CVS), <\/span><b>Uber <\/b><span style=\"font-weight: 400;\">(UBER)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Wednesday PM: <\/span><b>Walt Disney <\/b><span style=\"font-weight: 400;\">(DIS), <\/span><b>Robinhood <\/b><span style=\"font-weight: 400;\">(HOOD)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Thursday AM: <\/span><b>Pepsico <\/b><span style=\"font-weight: 400;\">(PEP), <\/span><b>Kellogg <\/b><span style=\"font-weight: 400;\">(K)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Thursday PM: <\/span><b>PayPal <\/b><span style=\"font-weight: 400;\">(PYPL), <\/span><b>Lyft <\/b><span style=\"font-weight: 400;\">(LYFT)<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">Fed Speakers Hit The Circuit<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The Fed also remains in focus this week with several central bank officials set to give speeches over the next two days.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Fed Chair Jerome Powell is scheduled to speak at the Economic Club of Washington at 12:40 p.m. EST on Tuesday.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Vice Chair Michael Barr will also give a speech Tuesday afternoon.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Then on Wednesday several officials are scheduled to speak throughout the day:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New York Fed President John Williams<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Fed Governor Lisa Cook<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Vice Chair Michael<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Atlanta Fed President Raphael Bostic<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Minneapolis Fed President Neel Kashkari<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Fed Governor Christopher Waller<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Traders are monitoring these speeches for more hints about the bank\u2019s future plans for rate hikes.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After last week\u2019s Fed meeting, Powell struck a more dovish tone saying for the first time that the \u201cdisinflationary process has started.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Fed has penciled in two more rate hikes this year followed by a pause with no cuts until 2024.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But CME Group\u2019s <\/span><a href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html\"><span style=\"font-weight: 400;\">FedWatch<\/span><\/a><span style=\"font-weight: 400;\"> Tool shows the market pricing in as many as two rate cuts before the end of 2023.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>DJIA Futures: -197 (-0.6%) SPX Futures: -35 (-0.8%) NASDAQ Futures: -142 (-1.1%) Good morning friends! Futures are falling as traders look ahead to a busy week of earnings and an upcoming speech by Fed Chair Jerome Powell. Let\u2019s get right to it! Tyson Shares Slides As Earnings Miss Tyson Foods (TSN) shares are falling 4.8% ahead of the open after missing fiscal Q1 expectations on the top and bottom line.\u00a0 Here\u2019s how the meat processing company\u2019s results compared to analysts\u2019 expectations:\u00a0 Adjusted EPS $0.85 vs $1.31 expected Revenue: $12.93 billion vs $13.52 billion expected The CEO said, \u201cWe faced some challenges in the first quarter. Market dynamics and some operational inefficiencies impacted our profitability.\u201d Beef sales dropped to $4.72 billion from $5 billion a year ago while pork sales fell to $1.53 billion from $1.63 billion. Tyson expects those sales declines to continue into the full year.\u00a0 The company said, \u201cFor fiscal 2023, the United States Department of Agriculture (USDA) indicates domestic protein production (beef, pork, chicken and turkey) should be relatively flat compared to fiscal 2022 level.\u201d Tyson forecast fiscal 2023 sales to total between $55 billion and $57 billion vs analysts\u2019 estimates of $55.19 billion.\u00a0 Dell Announces Layoffs Dell Technologies (DELL) shares are up 1.9% in premarket trade after announcing layoffs this morning.\u00a0 A new SEC filing shows the PC company plans to layoff 5% of its workforce.\u00a0 That would impact about 6,650 employees.\u00a0 In a memo to employees, the company\u2019s co-COO said, \u201cThere is no tougher decision, but one we had to make for our long-term health and success.\u201d\u00a0 Earnings In Focus This will be a quieter week of economic data with the market\u2019s main focus being on earnings.\u00a0 Here\u2019s a look at some of the companies scheduled to report this week:\u00a0 Monday PM: Activision Blizzer (ATVI), Pinterest (PINS), Spirit Airlines (SAVE) Tuesday PM: Chipotle (CMG) Wednesday AM: CVS (CVS), Uber (UBER) Wednesday PM: Walt Disney (DIS), Robinhood (HOOD) Thursday AM: Pepsico (PEP), Kellogg (K) Thursday PM: PayPal (PYPL), Lyft (LYFT) Fed Speakers Hit The Circuit The Fed also remains in focus this week with several central bank officials set to give speeches over the next two days.\u00a0 Fed Chair Jerome Powell is scheduled to speak at the Economic Club of Washington at 12:40 p.m. EST on Tuesday.\u00a0 Vice Chair Michael Barr will also give a speech Tuesday afternoon.\u00a0 Then on Wednesday several officials are scheduled to speak throughout the day: New York Fed President John Williams Fed Governor Lisa Cook Vice Chair Michael Atlanta Fed President Raphael Bostic Minneapolis Fed President Neel Kashkari Fed Governor Christopher Waller Traders are monitoring these speeches for more hints about the bank\u2019s future plans for rate hikes.\u00a0 After last week\u2019s Fed meeting, Powell struck a more dovish tone saying for the first time that the \u201cdisinflationary process has started. The Fed has penciled in two more rate hikes this year followed by a pause with no cuts until 2024.\u00a0 But CME Group\u2019s FedWatch Tool shows the market pricing in as many as two rate cuts before the end of 2023.<\/p>\n","protected":false},"author":41,"featured_media":66187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-66183","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\/66183","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=66183"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66183\/revisions"}],"predecessor-version":[{"id":66189,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66183\/revisions\/66189"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/66187"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=66183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=66183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=66183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}