{"id":69767,"date":"2023-08-09T09:02:04","date_gmt":"2023-08-09T13:02:04","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=69767"},"modified":"2023-08-09T09:02:04","modified_gmt":"2023-08-09T13:02:04","slug":"coffee-with-greta-rebound-attempt","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/08\/09\/coffee-with-greta-rebound-attempt\/","title":{"rendered":"Coffee With Greta: Rebound Attempt"},"content":{"rendered":"

Register now<\/a> for today's free Q&A event on LinkedIn with me and T3 professional trader Brandt Hersh!<\/b><\/p>\n

DJIA Futures: <\/b>+30 (+0.1%)<\/span><\/p>\n

SPX Futures: <\/b>+7 (+0.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+24 (+0.2%)<\/span><\/p>\n

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

Futures are up slightly as the market looks to rebound.<\/span><\/p>\n

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

Rivian Tops Expectations, Hikes Production Guidance<\/span><\/h2>\n

Rivian <\/b>(RIVN) shares are down 1.4% ahead of the open despite beating Q2 expectations and raising its full-year production target.\u00a0<\/span><\/p>\n

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

    \n
  • Loss per share: $1.08 vs $1.41 expected<\/span><\/li>\n
  • Revenue: $1.12 billion vs $1 billion expected<\/span><\/li>\n<\/ul>\n

    Rivian delivered 12,640 vehicles during the second quarter, up 59% from Q1.\u00a0<\/span><\/p>\n

    The EV maker said it had $10.2 billion in cash on hand at the end of the quarter while capital expenditures decreased on a quarterly basis.\u00a0<\/span><\/p>\n

    The company now expects to build about 52,000 vehicles this year, up from previous guidance for 50,000.\u00a0<\/span><\/p>\n

    SMCI Drops On Weak Outlook<\/span><\/h2>\n

    Super Micro Computer Inc <\/b>(SMCI) shares are tumbling 14.8% in premarket trade after beating Q4 expectations but issuing weak guidance.\u00a0<\/span><\/p>\n

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

      \n
    • Adjusted EPS: $3.51 vs $2.91 expected<\/span><\/li>\n
    • Revenue: $2.18 billion vs $1.98 billion expected<\/span><\/li>\n<\/ul>\n

      But SMCI expects a spending surge to support AI technology.\u00a0<\/span><\/p>\n

      That contributed to the lower forecast.\u00a0<\/span><\/p>\n

      The company expects Q1 adjusted EPS of $2.75 to $3.50 on revenue of $1.9 billion to $2.2 billion.\u00a0<\/span><\/p>\n

      Analysts were estimating adjusted EPS of $3.21 on $2.2 billion in revenue.<\/span><\/p>\n

      Lyft Slips Despite Beat<\/span><\/h2>\n

      Lyft <\/b>(LYFT) shares are falling 6.1% ahead of the open despite beating Q2 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

      Here\u2019s how the ride-hailing service\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

        \n
      • Adjusted EPS: $0.16 vs $0.01 loss expected<\/span><\/li>\n
      • Revenue: $1.021 billion vs $1.02 billion expected<\/span><\/li>\n<\/ul>\n

        Lyft forecast Q3 revenue between $1.13 billion and $1.15 billion vs $1.09 billion expected.\u00a0<\/span><\/p>\n

        The company said, \u201cWe saw momentum across use cases, however commute and early-morning trips were standouts, growing by just over 20% year over year. And we had our highest volume of quarterly airport rides since 2019.\u201d<\/span><\/p>\n

        Active-riders rose 8% to 21.5 million in the quarter but revenue per ride fell as the company cut prices to attract riders.<\/span><\/p>\n

        Roblox Losses Widen<\/span><\/h2>\n

        Roblox <\/b>(RBLX) shares are down 8.1% in premarket trade after reporting a larger Q2 loss than expected.\u00a0<\/span><\/p>\n

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

          \n
        • Loss per share: $0.46 vs $0.45 expected<\/span><\/li>\n
        • Bookings: $781 million vs $785 million expected<\/span><\/li>\n<\/ul>\n

          Bookings were up 22% year over year.\u00a0<\/span><\/p>\n

          Roblox reported 65.5 million average daily active users during the quarter, up 25% from a year ago.\u00a0<\/span><\/p>\n

          Those users spent more than 14 billion hours engaged in Roblox, up 24%.<\/span><\/p>\n

          Roblox said it expects to continue to report losses for the \u201cforeseeable future.\u201d<\/span><\/p>\n

          Mortgage Demand Drops<\/span><\/h2>\n

          Mortgage demand dropped again last week as rates surged.\u00a0<\/span><\/p>\n

          The Mortgage Bankers Association reported total application volume dropped 3.1% weekly.\u00a0<\/span><\/p>\n

          Purchase applications fell 3% weekly and 27% year over year while refinance applications fell 4% weekly and 37% annually.\u00a0<\/span><\/p>\n

          The average 30-year fixed contract rate jumped to 7.09% from 6.93%.\u00a0<\/span><\/p>\n

          The FHA rate hit 7.02%, the highest since 2002.\u00a0<\/span><\/p>\n

          The higher rates came as Treasury yields rose last week, mortgage rates follow the 10-year yield.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

          Register now for today’s free Q&A event on LinkedIn with me and T3 professional trader Brandt Hersh! DJIA Futures: +30 (+0.1%) SPX Futures: +7 (+0.2%) NASDAQ Futures: +24 (+0.2%) Good morning friends! Futures are up slightly as the market looks to rebound. Let\u2019s get right to it! Rivian Tops Expectations, Hikes Production Guidance Rivian (RIVN) shares are down 1.4% ahead of the open despite beating Q2 expectations and raising its full-year production target.\u00a0 Here\u2019s how the electric automaker\u2019s results compared to analysts\u2019 estimates: Loss per share: $1.08 vs $1.41 expected Revenue: $1.12 billion vs $1 billion expected Rivian delivered 12,640 vehicles during the second quarter, up 59% from Q1.\u00a0 The EV maker said it had $10.2 billion in cash on hand at the end of the quarter while capital expenditures decreased on a quarterly basis.\u00a0 The company now expects to build about 52,000 vehicles this year, up from previous guidance for 50,000.\u00a0 SMCI Drops On Weak Outlook Super Micro Computer Inc (SMCI) shares are tumbling 14.8% in premarket trade after beating Q4 expectations but issuing weak guidance.\u00a0 Here\u2019s how the server company\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $3.51 vs $2.91 expected Revenue: $2.18 billion vs $1.98 billion expected But SMCI expects a spending surge to support AI technology.\u00a0 That contributed to the lower forecast.\u00a0 The company expects Q1 adjusted EPS of $2.75 to $3.50 on revenue of $1.9 billion to $2.2 billion.\u00a0 Analysts were estimating adjusted EPS of $3.21 on $2.2 billion in revenue. Lyft Slips Despite Beat Lyft (LYFT) shares are falling 6.1% ahead of the open despite beating Q2 expectations on the top and bottom line.\u00a0 Here\u2019s how the ride-hailing service\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $0.16 vs $0.01 loss expected Revenue: $1.021 billion vs $1.02 billion expected Lyft forecast Q3 revenue between $1.13 billion and $1.15 billion vs $1.09 billion expected.\u00a0 The company said, \u201cWe saw momentum across use cases, however commute and early-morning trips were standouts, growing by just over 20% year over year. And we had our highest volume of quarterly airport rides since 2019.\u201d Active-riders rose 8% to 21.5 million in the quarter but revenue per ride fell as the company cut prices to attract riders. Roblox Losses Widen Roblox (RBLX) shares are down 8.1% in premarket trade after reporting a larger Q2 loss than expected.\u00a0 Here\u2019s how the video game company\u2019s results compared to analysts\u2019 estimates:\u00a0 Loss per share: $0.46 vs $0.45 expected Bookings: $781 million vs $785 million expected Bookings were up 22% year over year.\u00a0 Roblox reported 65.5 million average daily active users during the quarter, up 25% from a year ago.\u00a0 Those users spent more than 14 billion hours engaged in Roblox, up 24%. Roblox said it expects to continue to report losses for the \u201cforeseeable future.\u201d Mortgage Demand Drops Mortgage demand dropped again last week as rates surged.\u00a0 The Mortgage Bankers Association reported total application volume dropped 3.1% weekly.\u00a0 Purchase applications fell 3% weekly and 27% year over year while refinance applications fell 4% weekly and 37% annually.\u00a0 The average 30-year fixed contract rate jumped to 7.09% from 6.93%.\u00a0 The FHA rate hit 7.02%, the highest since 2002.\u00a0 The higher rates came as Treasury yields rose last week, mortgage rates follow the 10-year yield.<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-69767","post","type-post","status-publish","format-standard","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/69767","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=69767"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/69767\/revisions"}],"predecessor-version":[{"id":69769,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/69767\/revisions\/69769"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=69767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=69767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=69767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}