{"id":69562,"date":"2023-07-25T09:01:11","date_gmt":"2023-07-25T13:01:11","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=69562"},"modified":"2023-07-25T09:01:11","modified_gmt":"2023-07-25T13:01:11","slug":"coffee-with-greta-waiting-for-msft-googl","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/07\/25\/coffee-with-greta-waiting-for-msft-googl\/","title":{"rendered":"Coffee With Greta: Waiting For MSFT, GOOGL"},"content":{"rendered":"

Register now<\/a> for today's free Q&A on LinkedIn with pro trader and podcast host Ben Cahn!<\/b><\/p>\n

DJIA Futures: <\/b>-11 (-0.03%)<\/span><\/p>\n

SPX Futures: <\/b>+1 (+0.01%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+43 (+0.3%)<\/span><\/p>\n

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

Futures are mixed as traders await big tech earnings later today and digest the latest results reported this morning.<\/span><\/p>\n

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

General Motors Hikes Guidance<\/span><\/h2>\n

General Motors <\/b>(GM) shares are flat ahead of the open after beating Q2 estimates and hiking its guidance.\u00a0<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $1.91 (not comparable to estimates)<\/span><\/li>\n
  • Revenue: $44.75 billion vs $42.64 billion expected<\/span><\/li>\n<\/ul>\n

    GM\u2019s net income jumped nearly 52% year over year while revenue rose 25%.<\/span><\/p>\n

    The company now expects full-year adjusted earnings between $12 billion and $14 billion vs $11 billion to $13 billion previously.\u00a0<\/span><\/p>\n

    GM also hiked its forecast for adjusted automotive free cash flow to between $7\u00a0 billion and $9 billion, up from $5.5 billion to $7.5 billion previously.\u00a0<\/span><\/p>\n

    That higher guidance is contingent on GM negotiating new labor agreements with the United Auto Workers and the Canadian Unifor unions without a strike.\u00a0<\/span><\/p>\n

    CEO Mary Barra said, \u201cWe have a long history of negotiating fair contracts with both unions that reward our employees and support the long-term success of our business. Our goal this time will be no different. That\u2019s the best possible outcome for all our key stakeholders, including our team, plant communities, dealers, suppliers and investors.\u201d<\/span><\/p>\n

    Spotify Drops After Revenue Miss, Weak Guidance<\/span><\/h2>\n

    Spotify <\/b>(SPOT) shares are falling 5.6% in premarket trade after missing Q2 revenue expectations and issuing weak guidance.\u00a0<\/span><\/p>\n

    Here\u2019s how the music streaming company\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

      \n
    • Loss per share: 1.55 euros (not comparable)<\/span><\/li>\n
    • Revenue: 3.18 billion euros vs 3.21 billion euros expected<\/span><\/li>\n<\/ul>\n

      Spotify reported 551 million monthly active users last quarter, up 27% year over year.\u00a0<\/span><\/p>\n

      The company had 220 million paid subscribers during Q2, up 17% from a year ago.\u00a0<\/span><\/p>\n

      Spotify forecast 3.3 billion euros in Q3 revenue vs analysts\u2019 expectations for 3.4 billion euros.\u00a0<\/span><\/p>\n

      The report comes after the company announced price increases for its premium subscription plans on Monday.\u00a0<\/span><\/p>\n

      Premium Individual and Family plans will increase by $1 while Duo plans will go up by $2.<\/span><\/p>\n

      Spotify said the market landscape has \u201ccontinued to evolve\u201d and these changes will help the company \u201ccontinue to deliver value to fans and artists\u201d.<\/span><\/p>\n

      3M Jumps On Earnings Beat<\/span><\/h2>\n

      3M <\/b>(MMM) shares are up 3.1% ahead of the open after beating Q2 expectations.\u00a0<\/span><\/p>\n

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

        \n
      • Adjusted EPS: $2.17 vs $1.73 expected<\/span><\/li>\n
      • Revenue: $8 billion vs $7.9 billion expected<\/span><\/li>\n<\/ul>\n

        The company also hiked its full-year outlook, now expected EPS between $8.50 and $9.10 vs $8.50 to $9 previously.\u00a0<\/span><\/p>\n

        That was in line with analysts\u2019 projections for $8.61.\u00a0<\/span><\/p>\n

        General Electric Pops After Earnings Beat, Higher Guidance<\/span><\/h2>\n

        General Electric <\/b>(GE) shares are rising 3.8% in premarket trade after crushing Q2 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

          \n
        • Adjusted EPS: $0.68 vs $0.46 expected<\/span><\/li>\n
        • Revenue: $15.9 billion vs $14.8 billion expected<\/span><\/li>\n<\/ul>\n

          Aerospace orders rose 37% year over year, while sales were up 28%.\u00a0<\/span><\/p>\n

          Gas power orders rose 7% annually, sales were flat, and profits jumped 18%.<\/span><\/p>\n

          GE\u2019s wind power business reported a record $8.3 billion in new orders, up from $3.1 billion last year.<\/span><\/p>\n

          The company now expects full-year EPS between $2.10 and $2.30 vs $1.70 to $2 previously.\u00a0<\/span><\/p>\n

          GE also expects to generate roughly $4.3 billion in free cash flow vs previous guidance for $3.9 billion.<\/span><\/p>\n

          In Case You Missed It<\/span><\/h2>\n
            \n
          • The U.S. economy grew at the slowest pace in 5 months in July. The S&P Global flash services PMI fell to 52.4 this month vs 54.0 expected. That was the lowest reading since February. The manufacturing PMI rose to 49 vs 46.7 expected, but remains in negative territory.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

            Register now for today’s free Q&A on LinkedIn with pro trader and podcast host Ben Cahn! DJIA Futures: -11 (-0.03%) SPX Futures: +1 (+0.01%) NASDAQ Futures: +43 (+0.3%) Good morning friends! Futures are mixed as traders await big tech earnings later today and digest the latest results reported this morning. Let\u2019s get right to it! General Motors Hikes Guidance General Motors (GM) shares are flat ahead of the open after beating Q2 estimates and hiking its guidance.\u00a0 Here\u2019s how the automaker\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $1.91 (not comparable to estimates) Revenue: $44.75 billion vs $42.64 billion expected GM\u2019s net income jumped nearly 52% year over year while revenue rose 25%. The company now expects full-year adjusted earnings between $12 billion and $14 billion vs $11 billion to $13 billion previously.\u00a0 GM also hiked its forecast for adjusted automotive free cash flow to between $7\u00a0 billion and $9 billion, up from $5.5 billion to $7.5 billion previously.\u00a0 That higher guidance is contingent on GM negotiating new labor agreements with the United Auto Workers and the Canadian Unifor unions without a strike.\u00a0 CEO Mary Barra said, \u201cWe have a long history of negotiating fair contracts with both unions that reward our employees and support the long-term success of our business. Our goal this time will be no different. That\u2019s the best possible outcome for all our key stakeholders, including our team, plant communities, dealers, suppliers and investors.\u201d Spotify Drops After Revenue Miss, Weak Guidance Spotify (SPOT) shares are falling 5.6% in premarket trade after missing Q2 revenue expectations and issuing weak guidance.\u00a0 Here\u2019s how the music streaming company\u2019s results compared to analysts\u2019 estimates:\u00a0 Loss per share: 1.55 euros (not comparable) Revenue: 3.18 billion euros vs 3.21 billion euros expected Spotify reported 551 million monthly active users last quarter, up 27% year over year.\u00a0 The company had 220 million paid subscribers during Q2, up 17% from a year ago.\u00a0 Spotify forecast 3.3 billion euros in Q3 revenue vs analysts\u2019 expectations for 3.4 billion euros.\u00a0 The report comes after the company announced price increases for its premium subscription plans on Monday.\u00a0 Premium Individual and Family plans will increase by $1 while Duo plans will go up by $2. Spotify said the market landscape has \u201ccontinued to evolve\u201d and these changes will help the company \u201ccontinue to deliver value to fans and artists\u201d. 3M Jumps On Earnings Beat 3M (MMM) shares are up 3.1% ahead of the open after beating Q2 expectations.\u00a0 Here\u2019s how the manufacturing giant\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $2.17 vs $1.73 expected Revenue: $8 billion vs $7.9 billion expected The company also hiked its full-year outlook, now expected EPS between $8.50 and $9.10 vs $8.50 to $9 previously.\u00a0 That was in line with analysts\u2019 projections for $8.61.\u00a0 General Electric Pops After Earnings Beat, Higher Guidance General Electric (GE) shares are rising 3.8% in premarket trade after crushing Q2 expectations on the top and bottom line.\u00a0 Here\u2019s how the company\u2019s results compared to analysts\u2019 estimates: Adjusted EPS: $0.68 vs $0.46 expected Revenue: $15.9 billion vs $14.8 billion expected Aerospace orders rose 37% year over year, while sales were up 28%.\u00a0 Gas power orders rose 7% annually, sales were flat, and profits jumped 18%. GE\u2019s wind power business reported a record $8.3 billion in new orders, up from $3.1 billion last year. The company now expects full-year EPS between $2.10 and $2.30 vs $1.70 to $2 previously.\u00a0 GE also expects to generate roughly $4.3 billion in free cash flow vs previous guidance for $3.9 billion. In Case You Missed It The U.S. economy grew at the slowest pace in 5 months in July. The S&P Global flash services PMI fell to 52.4 this month vs 54.0 expected. That was the lowest reading since February. The manufacturing PMI rose to 49 vs 46.7 expected, but remains in negative territory.<\/p>\n","protected":false},"author":41,"featured_media":69568,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-69562","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\/69562","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=69562"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/69562\/revisions"}],"predecessor-version":[{"id":69570,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/69562\/revisions\/69570"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/69568"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=69562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=69562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=69562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}