{"id":66406,"date":"2023-02-23T09:03:42","date_gmt":"2023-02-23T14:03:42","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=66406"},"modified":"2023-02-23T12:21:26","modified_gmt":"2023-02-23T17:21:26","slug":"coffee-with-greta-earnings-boost-stocks","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/02\/23\/coffee-with-greta-earnings-boost-stocks\/","title":{"rendered":"Coffee With Greta: Earnings Boost Stocks"},"content":{"rendered":"

DJIA Futures: <\/b>+40 (+0.1%)<\/span><\/p>\n

SPX Futures: <\/b>+15 (+0.4%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+104 (+0.9%)<\/span><\/p>\n

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

Futures are higher as the market looks to rebound from a 4-day losing streak and Nvidia's earnings beat boosts tech stocks.<\/span><\/p>\n

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

Nvidia Rallies On Earnings Beat<\/span><\/h2>\n

Nvidia <\/b>(NVDA) shares are jumping 11% ahead of the open after beating Q4 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

Here\u2019s how the chipmaker\u2019s results compared to analysts\u2019 expectations:\u00a0<\/span><\/p>\n

    \n
  • Adjusted EPS: $0.88 vs $0.81 expected<\/span><\/li>\n
  • Revenue: $6.05 billion vs $6 billion expected<\/span><\/li>\n<\/ul>\n

    Nvidia forecast $6.5 billion in Q1 revenue, topping analysts\u2019 estimates of $6.33 billion.\u00a0<\/span><\/p>\n

    The company appears poised to benefit from the growing popularity of AI.\u00a0<\/span><\/p>\n

    Nvidia\u2019s data center business, which includes chips used for AI, continued to grow last quarter and the CEO said, \u201cGenerative AI\u2019s versatility and capability has triggered a sense of urgency at enterprises around the world to develop and deploy AI strategies.\u201d<\/span><\/p>\n

    Alibaba Shares Jump After Earnings\u00a0<\/span><\/h2>\n

    Alibaba <\/b>(BABA) shares are up 5.7% in premarket trade after sharply beating fiscal Q3 expectations.<\/span><\/p>\n

    Here\u2019s how the Chinese e-commerce giant\u2019s results compared to expectations:\u00a0<\/span><\/p>\n

      \n
    • Earnings per American depositary share: 19.26 yuan vs 16.26 yuan expected<\/span><\/li>\n
    • Revenue: 247.76 yuan vs 245.18 billion yuan expected<\/span><\/li>\n<\/ul>\n

      The company benefited from China\u2019s economic reopening as consumer demand rebounded.<\/span><\/p>\n

      The CEO said, \u201cLooking ahead, we expect continued recovery in consumer sentiment and economic activity.\u201d<\/span><\/p>\n

      Lucid Misses Q4 Revenue Expectations<\/span><\/h2>\n

      Lucid <\/b>(LCID) shares are dropping 13.5% ahead of the open after missing Q4 sales expectations.\u00a0<\/span><\/p>\n

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

        \n
      • Loss per share: $0.28<\/span><\/li>\n
      • Revenue: $257.7 million vs $303 million expected<\/span><\/li>\n<\/ul>\n

        The company built just 7,180 of its Air luxury sedans last year, sharply missing its original goal of 20,000.\u00a0<\/span><\/p>\n

        Lucid expects to manufacture between 10,000 and 14,000 this year.\u00a0<\/span><\/p>\n

        The company ended 2022 with roughly $4.4 billion in cash and $500 million available via credit.\u00a0<\/span><\/p>\n

        The CFO said that is enough to last until Q1 2024.\u00a0<\/span><\/p>\n

        Lucid said it has more than 28,000 reservations for its vehicles, down from 34,000 in November.<\/span><\/p>\n

        Moderna Drops After Earnings Miss<\/span><\/h2>\n

        Moderna <\/b>(MRNA) shares are falling 4.5% in premarket trade after missing Q4 profit expectations.\u00a0<\/span><\/p>\n

        Here\u2019s how the pharmaceutical giant\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

          \n
        • Adjusted EPS: $3.61 vs $4.68 expected<\/span><\/li>\n
        • Revenue: $5.1 billion vs $5 billion expected<\/span><\/li>\n<\/ul>\n

          Profits tumbled 68% year over year and revenue dropped 30% amid shrinking demand for the company\u2019s Covid vaccine.\u00a0<\/span><\/p>\n

          Costs also rose 25% in Q4 due to expired vaccines, unused manufacturing capacity, and a royalty payment to the National Institute of Allergy and Infectious Diseases.\u00a0<\/span><\/p>\n

          Q4 GDP Revised Lower<\/span><\/h2>\n

          The U.S. economy expanded less than initially estimated at the end of 2022.\u00a0<\/span><\/p>\n

          The Commerce Department\u2019s first revision of Q4 GDP was lowered to 2.7% from 2.9% initially.\u00a0<\/span><\/p>\n

          The revision was due to slower consumer spending which grew just 1.4% vs 2.1% initially estimated.\u00a0<\/span><\/p>\n

          Weekly Jobless Claims Fall<\/span><\/h2>\n

          Weekly jobless claims fell unexpectedly last week as the U.S. labor market remains tight.\u00a0<\/span><\/p>\n

          The Labor Department reported 192,000 Americans filed initial claims for unemployment benefits.\u00a0<\/span><\/p>\n

          That was down by 3,000 from the previous week\u2019s revised level and better than 200,000 expected.<\/span><\/p>\n

          In Case You Missed It<\/span><\/h2>\n
            \n
          • The February 1 Fed minutes show the bank is committed to its fight against inflation and members believe \u201congoing\u201d rate hikes are still necessary. FOMC officials said inflation is still \u201cwell above\u201d their target and the labor market remains \u201cvery tight\u201d. Fed members did say that recent data has shown inflation beginning to cool but they need \u201csubstantially more evidence of progress\u201d . The minutes showed a \u201cfew\u201d members were in favor of a 50 basis-point hike at the latest meeting but ultimately voted for the quarter-point move.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

            DJIA Futures: +40 (+0.1%) SPX Futures: +15 (+0.4%) NASDAQ Futures: +104 (+0.9%) Good morning friends! Futures are higher as the market looks to rebound from a 4-day losing streak and Nvidia’s earnings beat boosts tech stocks. Let\u2019s get right to it! Nvidia Rallies On Earnings Beat Nvidia (NVDA) shares are jumping 11% ahead of the open after beating Q4 expectations on the top and bottom line.\u00a0 Here\u2019s how the chipmaker\u2019s results compared to analysts\u2019 expectations:\u00a0 Adjusted EPS: $0.88 vs $0.81 expected Revenue: $6.05 billion vs $6 billion expected Nvidia forecast $6.5 billion in Q1 revenue, topping analysts\u2019 estimates of $6.33 billion.\u00a0 The company appears poised to benefit from the growing popularity of AI.\u00a0 Nvidia\u2019s data center business, which includes chips used for AI, continued to grow last quarter and the CEO said, \u201cGenerative AI\u2019s versatility and capability has triggered a sense of urgency at enterprises around the world to develop and deploy AI strategies.\u201d Alibaba Shares Jump After Earnings\u00a0 Alibaba (BABA) shares are up 5.7% in premarket trade after sharply beating fiscal Q3 expectations. Here\u2019s how the Chinese e-commerce giant\u2019s results compared to expectations:\u00a0 Earnings per American depositary share: 19.26 yuan vs 16.26 yuan expected Revenue: 247.76 yuan vs 245.18 billion yuan expected The company benefited from China\u2019s economic reopening as consumer demand rebounded. The CEO said, \u201cLooking ahead, we expect continued recovery in consumer sentiment and economic activity.\u201d Lucid Misses Q4 Revenue Expectations Lucid (LCID) shares are dropping 13.5% ahead of the open after missing Q4 sales expectations.\u00a0 Here\u2019s how the electric automaker\u2019s results compared to analysts\u2019 expectations: Loss per share: $0.28 Revenue: $257.7 million vs $303 million expected The company built just 7,180 of its Air luxury sedans last year, sharply missing its original goal of 20,000.\u00a0 Lucid expects to manufacture between 10,000 and 14,000 this year.\u00a0 The company ended 2022 with roughly $4.4 billion in cash and $500 million available via credit.\u00a0 The CFO said that is enough to last until Q1 2024.\u00a0 Lucid said it has more than 28,000 reservations for its vehicles, down from 34,000 in November. Moderna Drops After Earnings Miss Moderna (MRNA) shares are falling 4.5% in premarket trade after missing Q4 profit expectations.\u00a0 Here\u2019s how the pharmaceutical giant\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $3.61 vs $4.68 expected Revenue: $5.1 billion vs $5 billion expected Profits tumbled 68% year over year and revenue dropped 30% amid shrinking demand for the company\u2019s Covid vaccine.\u00a0 Costs also rose 25% in Q4 due to expired vaccines, unused manufacturing capacity, and a royalty payment to the National Institute of Allergy and Infectious Diseases.\u00a0 Q4 GDP Revised Lower The U.S. economy expanded less than initially estimated at the end of 2022.\u00a0 The Commerce Department\u2019s first revision of Q4 GDP was lowered to 2.7% from 2.9% initially.\u00a0 The revision was due to slower consumer spending which grew just 1.4% vs 2.1% initially estimated.\u00a0 Weekly Jobless Claims Fall Weekly jobless claims fell unexpectedly last week as the U.S. labor market remains tight.\u00a0 The Labor Department reported 192,000 Americans filed initial claims for unemployment benefits.\u00a0 That was down by 3,000 from the previous week\u2019s revised level and better than 200,000 expected. In Case You Missed It The February 1 Fed minutes show the bank is committed to its fight against inflation and members believe \u201congoing\u201d rate hikes are still necessary. FOMC officials said inflation is still \u201cwell above\u201d their target and the labor market remains \u201cvery tight\u201d. Fed members did say that recent data has shown inflation beginning to cool but they need \u201csubstantially more evidence of progress\u201d . The minutes showed a \u201cfew\u201d members were in favor of a 50 basis-point hike at the latest meeting but ultimately voted for the quarter-point move.<\/p>\n","protected":false},"author":41,"featured_media":66460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-66406","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\/66406","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=66406"}],"version-history":[{"count":4,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66406\/revisions"}],"predecessor-version":[{"id":66466,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66406\/revisions\/66466"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/66460"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=66406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=66406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=66406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}