{"id":70025,"date":"2023-08-17T08:59:22","date_gmt":"2023-08-17T12:59:22","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=70025"},"modified":"2023-08-17T08:59:22","modified_gmt":"2023-08-17T12:59:22","slug":"coffee-with-greta-higher-open","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/08\/17\/coffee-with-greta-higher-open\/","title":{"rendered":"Coffee With Greta: Higher Open"},"content":{"rendered":"

DJIA Futures: <\/b>+41 (+0.1%)<\/span><\/p>\n

SPX Futures: <\/b>+15 (+0.3%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+63 (+0.4%)<\/span><\/p>\n

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

Futures are up as the market attempts to recover from back-to-back losing days.<\/span><\/p>\n

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

Walmart Slips Despite Earnings Beat<\/span><\/h2>\n

Walmart <\/b>(WMT) shares are down 0.4% ahead of the open despite beating Q2 expectations and hiking its full-year outlook.\u00a0<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $1.84 vs $1.71 expected<\/span><\/li>\n
  • Revenue: $161.63 billion vs $160.27 billion expected<\/span><\/li>\n<\/ul>\n

    Net income jumped 33% year over year.\u00a0<\/span><\/p>\n

    Transactions rose 2.9% and the average ticket increased by 3.4% for Walmart U.S.\u00a0<\/span><\/p>\n

    Walmart\u2019s same-store sales in the U.S. grew 6.4% vs 4.1% expected.<\/span><\/p>\n

    As food prices remain high, shoppers are buying more of Walmart\u2019s brands.\u00a0<\/span><\/p>\n

    Private label grocery sales rose 9% year over year and made up 20% of Walmart\u2019s total U.S. sales.\u00a0<\/span><\/p>\n

    Walmart now expects full-year net sales growth of 4% to 4.5% with adjusted EPS between $6.36 and $6.46.<\/span><\/p>\n

    Cisco Jumps On Beat<\/span><\/h2>\n

    Cisco <\/b>(CSCO) shares are rising 2.4% in premarket trade after beating fiscal Q4 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

      \n
    • Adjusted EPS: $1.14 vs $1.06 expected<\/span><\/li>\n
    • Revenue: $15.2 billion vs $15.05 billion expected<\/span><\/li>\n<\/ul>\n

      Cisco forecast full-year revenue between $57 billion and $58.20 billion vs $58.38 billion expected.\u00a0<\/span><\/p>\n

      But the CEO said during the earnings call that the company has gained more than 3% of market share in its three largest markets so far this quarter.\u00a0<\/span><\/p>\n

      He also touted the company as a potential leading supplier of the networking gear needed for AI, saying, “This is a huge opportunity for Cisco.”<\/span><\/p>\n

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

      Weekly jobless claims fell more than expected last week as the labor market remains tight.\u00a0<\/span><\/p>\n

      The Labor Department reported 239,000 Americans filed initial claims for unemployment benefits.\u00a0<\/span><\/p>\n

      That was down by 11,000 from the week before and lower than 240,000 expected.\u00a0<\/span><\/p>\n

      Continuing claims rose by 32,000 to 1.72 million in the week ending August 5.<\/span><\/p>\n

      Philly Fed Manufacturing Index Expands<\/span><\/h2>\n

      The Philadelphia Fed\u2019s manufacturing index showed an unexpected expansion in August.<\/span><\/p>\n

      The index jumped 25.5 points this month to 12 vs expectations for -10.\u00a0<\/span><\/p>\n

      It was the first positive reading since August 2022 and up from -13.5 in July.\u00a0<\/span><\/p>\n

      The gain was led by a surge in the new orders index which jumped 32 points to +16 vs -15.9 last month.\u00a0<\/span><\/p>\n

      But the six-month index fell to 3.9 from 29.1 in July, the capital expenditures index fell to -4.5 from 8.6, and the employment index declined to -6 from -1.<\/span><\/p>\n

      In Case You Missed It<\/span><\/h2>\n
        \n
      • The Fed released the minutes of its July meeting on Wednesday, showing officials are still worried about inflation remaining sticky. The readout said, \u201cWith inflation still well above the Committee\u2019s longer-run goal and the labor market remaining tight, most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy.\u201d But the minutes also showed members are uncertain about the future of rate hikes. The report said, \u201cParticipants generally noted a high degree of uncertainty regarding the cumulative effects on the economy of past monetary policy tightening.\u201d<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

        DJIA Futures: +41 (+0.1%) SPX Futures: +15 (+0.3%) NASDAQ Futures: +63 (+0.4%) Good morning friends! Futures are up as the market attempts to recover from back-to-back losing days. Let\u2019s get right to it! Walmart Slips Despite Earnings Beat Walmart (WMT) shares are down 0.4% ahead of the open despite beating Q2 expectations and hiking its full-year outlook.\u00a0 Here\u2019s how the retailer\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $1.84 vs $1.71 expected Revenue: $161.63 billion vs $160.27 billion expected Net income jumped 33% year over year.\u00a0 Transactions rose 2.9% and the average ticket increased by 3.4% for Walmart U.S.\u00a0 Walmart\u2019s same-store sales in the U.S. grew 6.4% vs 4.1% expected. As food prices remain high, shoppers are buying more of Walmart\u2019s brands.\u00a0 Private label grocery sales rose 9% year over year and made up 20% of Walmart\u2019s total U.S. sales.\u00a0 Walmart now expects full-year net sales growth of 4% to 4.5% with adjusted EPS between $6.36 and $6.46. Cisco Jumps On Beat Cisco (CSCO) shares are rising 2.4% in premarket trade after beating fiscal Q4 expectations on the top and bottom line.\u00a0 Here\u2019s how the computer networking giant\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $1.14 vs $1.06 expected Revenue: $15.2 billion vs $15.05 billion expected Cisco forecast full-year revenue between $57 billion and $58.20 billion vs $58.38 billion expected.\u00a0 But the CEO said during the earnings call that the company has gained more than 3% of market share in its three largest markets so far this quarter.\u00a0 He also touted the company as a potential leading supplier of the networking gear needed for AI, saying, “This is a huge opportunity for Cisco.” Weekly Jobless Claims Fall Weekly jobless claims fell more than expected last week as the labor market remains tight.\u00a0 The Labor Department reported 239,000 Americans filed initial claims for unemployment benefits.\u00a0 That was down by 11,000 from the week before and lower than 240,000 expected.\u00a0 Continuing claims rose by 32,000 to 1.72 million in the week ending August 5. Philly Fed Manufacturing Index Expands The Philadelphia Fed\u2019s manufacturing index showed an unexpected expansion in August. The index jumped 25.5 points this month to 12 vs expectations for -10.\u00a0 It was the first positive reading since August 2022 and up from -13.5 in July.\u00a0 The gain was led by a surge in the new orders index which jumped 32 points to +16 vs -15.9 last month.\u00a0 But the six-month index fell to 3.9 from 29.1 in July, the capital expenditures index fell to -4.5 from 8.6, and the employment index declined to -6 from -1. In Case You Missed It The Fed released the minutes of its July meeting on Wednesday, showing officials are still worried about inflation remaining sticky. The readout said, \u201cWith inflation still well above the Committee\u2019s longer-run goal and the labor market remaining tight, most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy.\u201d But the minutes also showed members are uncertain about the future of rate hikes. The report said, \u201cParticipants generally noted a high degree of uncertainty regarding the cumulative effects on the economy of past monetary policy tightening.\u201d<\/p>\n","protected":false},"author":41,"featured_media":70029,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-70025","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\/70025","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=70025"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/70025\/revisions"}],"predecessor-version":[{"id":70030,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/70025\/revisions\/70030"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/70029"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=70025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=70025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=70025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}