{"id":70033,"date":"2023-08-18T09:04:43","date_gmt":"2023-08-18T13:04:43","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=70033"},"modified":"2023-08-18T09:04:43","modified_gmt":"2023-08-18T13:04:43","slug":"coffee-with-greta-tough-week","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/08\/18\/coffee-with-greta-tough-week\/","title":{"rendered":"Coffee With Greta: Tough Week"},"content":{"rendered":"

Register now<\/a> for next week's free pro trader Q&A on LinkedIn with me and Josh Lefler!<\/strong><\/p>\n

DJIA Futures: <\/b>-180 (-0.5%)<\/span><\/p>\n

SPX Futures: <\/b>-27 (-0.6%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-136 (-0.9%)<\/span><\/p>\n

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

Futures are dropping as traders gear up for another down session.<\/span><\/p>\n

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

Ross Earnings Beat<\/span><\/h2>\n

Ross Stores <\/b>(ROST) shares are up 5.4% ahead of the open after beating Q2 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

    \n
  • EPS: $1.32 vs $1.16 expected<\/span><\/li>\n
  • Revenue: $4.93 billion vs $4.75 billion expected<\/span><\/li>\n<\/ul>\n

    Ross raised its full-year outlook following the beat.\u00a0<\/span><\/p>\n

    The company now expects fiscal year earnings between $5.15 and $5.26 per share vs $5 expected and $4.77 to $4.99 previously.\u00a0<\/span><\/p>\n

    Ross forecast Q3 EPS between $1.16 and $1.21 and Q4 EPS between $1.58 and $1.64.\u00a0<\/span><\/p>\n

    Chinese EV Maker Posts Record Loss<\/span><\/h2>\n

    Xpeng <\/b>(XPEV) shares are tumbling 7.9% in premarket trade after reporting the largest quarterly loss in company history.\u00a0<\/span><\/p>\n

    Here\u2019s how the Chinese EV maker\u2019s Q2 results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

      \n
    • Net loss: 2.8 billion yuan vs 2.13 billion yuan expected<\/span><\/li>\n
    • Revenue: 5.06 billion yuan, in line with estimates<\/span><\/li>\n<\/ul>\n

      Revenue dropped 31% year over year and it was the biggest quarterly loss Xpeng has reported since going public in August 2020.<\/span><\/p>\n

      The company\u2019s vehicle margin dropped to -8.9% during the quarter vs 9.1% a year ago.<\/span><\/p>\n

      Xpeng blamed that decline on \u201cinventory write-downs and losses on inventory purchase commitments\u201d.<\/span><\/p>\n

      The company is relying on its new G6 electric vehicle to turn around performance.\u00a0<\/span><\/p>\n

      Xpeng expects between 39,000 and 41,000 vehicle deliveries in Q3, up from Q2 and 31.9% to 38.7% higher year over year.\u00a0<\/span><\/p>\n

      The company also forecast Q3 revenue between 8.5 billion yuan and 9 billion yuan, which would be an annual increase of 24.6% to 31.9%.<\/span><\/p>\n

      Bitcoin Plunges<\/span><\/h2>\n

      Bitcoin prices abruptly plunged Thursday evening to just over $26,000.\u00a0<\/span><\/p>\n

      The coin is currently down 7.5% at $26,364.<\/span><\/p>\n

      The drop comes after a Wall Street Journal report that SpaceX wrote down the value of its bitcoin holding by $373 million in 2022 and 2021.\u00a0<\/span><\/p>\n

      The report also said the space travel company sold the crypto currency.<\/span><\/p>\n

      In Case You Missed It<\/span><\/h2>\n
        \n
      • CVS Health <\/b>(CVS) shares tumbled 8.1% on Thursday after insurance giant Blue Shield of California said it will drop the company\u2019s pharmacy services. CVS Health\u2019s Caremark has been Blue Shield\u2019s pharmacy benefit management partner for more than 5 years. Blue Shield will now partner with Cost Plus Drugs company and Amazon Pharmacy instead. The health insurer said the change will provide \u201cconvenient, transparent access to medications while lowering costs.\u201d<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

        Register now for next week’s free pro trader Q&A on LinkedIn with me and Josh Lefler! DJIA Futures: -180 (-0.5%) SPX Futures: -27 (-0.6%) NASDAQ Futures: -136 (-0.9%) Good morning friends! Futures are dropping as traders gear up for another down session. Let\u2019s get right to it! Ross Earnings Beat Ross Stores (ROST) shares are up 5.4% ahead of the open after beating Q2 expectations on the top and bottom line.\u00a0 Here\u2019s how the discount retailer\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $1.32 vs $1.16 expected Revenue: $4.93 billion vs $4.75 billion expected Ross raised its full-year outlook following the beat.\u00a0 The company now expects fiscal year earnings between $5.15 and $5.26 per share vs $5 expected and $4.77 to $4.99 previously.\u00a0 Ross forecast Q3 EPS between $1.16 and $1.21 and Q4 EPS between $1.58 and $1.64.\u00a0 Chinese EV Maker Posts Record Loss Xpeng (XPEV) shares are tumbling 7.9% in premarket trade after reporting the largest quarterly loss in company history.\u00a0 Here\u2019s how the Chinese EV maker\u2019s Q2 results compared to analysts\u2019 estimates:\u00a0 Net loss: 2.8 billion yuan vs 2.13 billion yuan expected Revenue: 5.06 billion yuan, in line with estimates Revenue dropped 31% year over year and it was the biggest quarterly loss Xpeng has reported since going public in August 2020. The company\u2019s vehicle margin dropped to -8.9% during the quarter vs 9.1% a year ago. Xpeng blamed that decline on \u201cinventory write-downs and losses on inventory purchase commitments\u201d. The company is relying on its new G6 electric vehicle to turn around performance.\u00a0 Xpeng expects between 39,000 and 41,000 vehicle deliveries in Q3, up from Q2 and 31.9% to 38.7% higher year over year.\u00a0 The company also forecast Q3 revenue between 8.5 billion yuan and 9 billion yuan, which would be an annual increase of 24.6% to 31.9%. Bitcoin Plunges Bitcoin prices abruptly plunged Thursday evening to just over $26,000.\u00a0 The coin is currently down 7.5% at $26,364. The drop comes after a Wall Street Journal report that SpaceX wrote down the value of its bitcoin holding by $373 million in 2022 and 2021.\u00a0 The report also said the space travel company sold the crypto currency. In Case You Missed It CVS Health (CVS) shares tumbled 8.1% on Thursday after insurance giant Blue Shield of California said it will drop the company\u2019s pharmacy services. CVS Health\u2019s Caremark has been Blue Shield\u2019s pharmacy benefit management partner for more than 5 years. Blue Shield will now partner with Cost Plus Drugs company and Amazon Pharmacy instead. The health insurer said the change will provide \u201cconvenient, transparent access to medications while lowering costs.\u201d<\/p>\n","protected":false},"author":41,"featured_media":70035,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-70033","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\/70033","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=70033"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/70033\/revisions"}],"predecessor-version":[{"id":70038,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/70033\/revisions\/70038"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/70035"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=70033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=70033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=70033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}