{"id":69008,"date":"2023-06-27T08:55:39","date_gmt":"2023-06-27T12:55:39","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=69008"},"modified":"2023-06-27T08:57:21","modified_gmt":"2023-06-27T12:57:21","slug":"coffee-with-greta-waiting-for-data","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/06\/27\/coffee-with-greta-waiting-for-data\/","title":{"rendered":"Coffee With Greta: Waiting For Data"},"content":{"rendered":"

Register now<\/a> for tomorrow's pro trader Q&A with Chartered Market Technician Andrew Moss on LinkedIn!<\/strong><\/p>\n

DJIA Futures: <\/b>-4 (-0.01%)<\/span><\/p>\n

SPX Futures: <\/b>+10 (+0.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+71 (+0.5%)<\/span><\/p>\n

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

Futures are mostly higher as traders await key economic data later today.<\/span><\/p>\n

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

Durable Goods Orders Jump Unexpectedly<\/span><\/h2>\n

Durable goods order rose unexpectedly last month, increasing for the third consecutive month.\u00a0<\/span><\/p>\n

The Commerce Department reported orders jumped 1.7% in May vs expectations for a 0.8% decline.\u00a0<\/span><\/p>\n

That was also an improvement from the 1.2% increase in April.\u00a0<\/span><\/p>\n

Durable goods refers to products made to last three years or more, like large appliances, cars, and planes.\u00a0<\/span><\/p>\n

Durable goods orders excluding transportation rose 0.6% vs 0% expected.<\/span><\/p>\n

Walgreens Drops After Cutting Outlook<\/span><\/h2>\n

Walgreens Boots Alliance <\/b>(WBA) shares are down 8.4% ahead of the open after missing fiscal Q3 expectations and slashing its full-year guidance.\u00a0<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $1.00 vs $1.07 expected<\/span><\/li>\n
  • Revenue: $35.42 billion vs $34.24 billion expected<\/span><\/li>\n<\/ul>\n

    It was the company\u2019s first earnings miss since July 2020.\u00a0<\/span><\/p>\n

    But revenue jumped 8.6% year over year as sales grew in the retail pharmacy and health-care segments.\u00a0<\/span><\/p>\n

    The CEO said she is increasing Walgreen\u2019s cost-cutting initiative to $4.1 billion and taking immediate action to increase profitability.\u00a0<\/span><\/p>\n

    She said, \u201cI am confident that our turnaround strategy positions WBA to drive sustainable core growth and deliver long-term shareholder value.\u201d<\/span><\/p>\n

    Walgreens lowered its full-year EPS expectations to a range of $4.00 to $4.05 vs $4.45 to $4.65 previously.\u00a0<\/span><\/p>\n

    Delta Hikes Profit Forecast<\/span><\/h2>\n

    Delta Airlines <\/b>(DAL) shares are up 1.5% in premarket trade after the company hiked its second quarter and full-year outlook.\u00a0<\/span><\/p>\n

    The airline now expects adjusted EPS of $2.25 to $2.50 in the second quarter, up from $2 to $2.25 previously.\u00a0<\/span><\/p>\n

    The CEO said the upcoming second-quarter earnings could be the highest ever in company history.\u00a0<\/span><\/p>\n

    In an interview with CNBC he said, \u201cThe demand as you know, as anyone that\u2019s traveling knows, is off the chain.\u201d<\/span><\/p>\n

    Delta now expects free cash generation of $3 billion this year vs $2 billion forecast previously.<\/span><\/p>\n

    The company also now sees revenue per available seat mile to be up as much as 18% year over year vs the prior outlook for 15% to 17% growth.<\/span><\/p>\n

    Lordstown Motors Files For Bankruptcy<\/span><\/h2>\n

    Lordstown Motors <\/b>(RIDE) shares are plunging 59.9% ahead of the open after the electric truckmaker filed for Chapter 11 bankruptcy protection.\u00a0<\/span><\/p>\n

    The company said it would also put itself up for sale.\u00a0<\/span><\/p>\n

    The filing comes amid a dispute over investments that had been promised by Taiwanese manufacturer Foxconn.<\/span><\/p>\n

    Lordstown also filed a suit against Foxconn, accusing the company of fraud and failing to abide by an agreement to invest up to $170 million in Lordstown.\u00a0<\/span><\/p>\n

    The two companies were supposed to work together on a range of new electric vehicles.\u00a0<\/span><\/p>\n

    Foxconn is accusing Lordstown of attempting to \u201cmislead the public\u201d and said it is suspending talks and reserving the right to take legal action of its own.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    Register now for tomorrow’s pro trader Q&A with Chartered Market Technician Andrew Moss on LinkedIn! DJIA Futures: -4 (-0.01%) SPX Futures: +10 (+0.2%) NASDAQ Futures: +71 (+0.5%) Good morning friends! Futures are mostly higher as traders await key economic data later today. Let\u2019s get right to it! Durable Goods Orders Jump Unexpectedly Durable goods order rose unexpectedly last month, increasing for the third consecutive month.\u00a0 The Commerce Department reported orders jumped 1.7% in May vs expectations for a 0.8% decline.\u00a0 That was also an improvement from the 1.2% increase in April.\u00a0 Durable goods refers to products made to last three years or more, like large appliances, cars, and planes.\u00a0 Durable goods orders excluding transportation rose 0.6% vs 0% expected. Walgreens Drops After Cutting Outlook Walgreens Boots Alliance (WBA) shares are down 8.4% ahead of the open after missing fiscal Q3 expectations and slashing its full-year guidance.\u00a0 Here\u2019s how the pharmacy chain\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $1.00 vs $1.07 expected Revenue: $35.42 billion vs $34.24 billion expected It was the company\u2019s first earnings miss since July 2020.\u00a0 But revenue jumped 8.6% year over year as sales grew in the retail pharmacy and health-care segments.\u00a0 The CEO said she is increasing Walgreen\u2019s cost-cutting initiative to $4.1 billion and taking immediate action to increase profitability.\u00a0 She said, \u201cI am confident that our turnaround strategy positions WBA to drive sustainable core growth and deliver long-term shareholder value.\u201d Walgreens lowered its full-year EPS expectations to a range of $4.00 to $4.05 vs $4.45 to $4.65 previously.\u00a0 Delta Hikes Profit Forecast Delta Airlines (DAL) shares are up 1.5% in premarket trade after the company hiked its second quarter and full-year outlook.\u00a0 The airline now expects adjusted EPS of $2.25 to $2.50 in the second quarter, up from $2 to $2.25 previously.\u00a0 The CEO said the upcoming second-quarter earnings could be the highest ever in company history.\u00a0 In an interview with CNBC he said, \u201cThe demand as you know, as anyone that\u2019s traveling knows, is off the chain.\u201d Delta now expects free cash generation of $3 billion this year vs $2 billion forecast previously. The company also now sees revenue per available seat mile to be up as much as 18% year over year vs the prior outlook for 15% to 17% growth. Lordstown Motors Files For Bankruptcy Lordstown Motors (RIDE) shares are plunging 59.9% ahead of the open after the electric truckmaker filed for Chapter 11 bankruptcy protection.\u00a0 The company said it would also put itself up for sale.\u00a0 The filing comes amid a dispute over investments that had been promised by Taiwanese manufacturer Foxconn. Lordstown also filed a suit against Foxconn, accusing the company of fraud and failing to abide by an agreement to invest up to $170 million in Lordstown.\u00a0 The two companies were supposed to work together on a range of new electric vehicles.\u00a0 Foxconn is accusing Lordstown of attempting to \u201cmislead the public\u201d and said it is suspending talks and reserving the right to take legal action of its own.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":69015,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-69008","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\/69008","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=69008"}],"version-history":[{"count":4,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/69008\/revisions"}],"predecessor-version":[{"id":69020,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/69008\/revisions\/69020"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/69015"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=69008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=69008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=69008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}