{"id":70088,"date":"2023-08-25T09:03:24","date_gmt":"2023-08-25T13:03:24","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=70088"},"modified":"2023-08-25T09:06:34","modified_gmt":"2023-08-25T13:06:34","slug":"coffee-with-greta-waiting-for-powell","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/08\/25\/coffee-with-greta-waiting-for-powell\/","title":{"rendered":"Coffee With Greta: Waiting For Powell"},"content":{"rendered":"

Register now<\/a> for next week's free pro trader Q&A on LinkedIn with me and T3 Trading Group's Patrick Hawe!<\/strong><\/p>\n

DJIA Futures: <\/b>+169 (+0.5%)<\/span><\/p>\n

SPX Futures: <\/b>+19 (+0.4%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+50 (+0.3%)<\/span><\/p>\n

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

Futures are rising as traders await the Fed Chair\u2019s speech at Jackson Hole.<\/span><\/p>\n

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

Jackson Hole<\/span><\/h2>\n

Fed Chair Jerome Powell is set to deliver the opening speech at the bank\u2019s Jackson Hole Symposium today.<\/span><\/p>\n

The market is closely watching this speech for clues about the Fed\u2019s future plans for interest rates.\u00a0<\/span><\/p>\n

In his speech last year, Powell warned economic \u201cpain\u201d was ahead for U.S. households as the bank continued to tighten.<\/span><\/p>\n

His speech will begin just after 10:00 a.m. ET.<\/span><\/p>\n

Nordstrom Slips<\/span><\/h2>\n

Nordstrom <\/b>(JNW) shares are down 1.3% ahead of the open after beating Q2 expectations but maintaining its full-year outlook.\u00a0<\/span><\/p>\n

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

    \n
  • EPS: $0.84 vs $0.44 expected<\/span><\/li>\n
  • Revenue: $3.77 billion vs $3.65 billion expected<\/span><\/li>\n<\/ul>\n

    Total revenue dropped 8% year over year with digital sales tumbling 13%.\u00a0<\/span><\/p>\n

    But the CEO said Nordstrom Rack sales have been on \u201ca steady upward trajectory throughout this year.\u201d<\/span>
    \n<\/span>
    \n<\/span>Nordstrom still expects revenue to fall between 4% and 6% this fiscal year with adjusted EPS between $1.80 and $2.20.<\/span><\/p>\n

    Gap Rises After Mixed Results<\/span><\/h2>\n

    Gap Inc <\/b>(GPS) shares are rising 1.7% in premarket trade after reporting mixed Q2 results.\u00a0<\/span><\/p>\n

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

      \n
    • Adjusted EPS: $0.34 vs $0.09 expected<\/span><\/li>\n
    • Revenue: $3.55 billion vs $3.57 billion expected<\/span><\/li>\n<\/ul>\n

      Gap\u2019s total sales dropped 8% year over year with same-store sales falling 6% vs a 4.4% decline expected.<\/span><\/p>\n

      Gap\u2019s namesake sales fell 14%, Banana Republic sales were down 11%, Old Navy sales declined 6%, and Athleta sales fell 1%.<\/span><\/p>\n

      The company expects Q3 net sales to decrease year over year in the low double-digit range vs analysts\u2019 expectations for a 6.8% decline.\u00a0<\/span><\/p>\n

      Affirm Pops On Earnings Beat<\/span><\/h2>\n

      Affirm <\/b>(AFRM) shares are up 6.1% ahead of the open after beating fiscal Q4 expectations.\u00a0<\/span><\/p>\n

      Here\u2019s how the buy-now pay-later company\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

        \n
      • Loss per share: $0.69 vs $0.85 expected<\/span><\/li>\n
      • Revenue: $446 million vs $406 million expected<\/span><\/li>\n<\/ul>\n

        Revenue jumped 22% year over year.<\/span><\/p>\n

        Affirm\u2019s funding capacity increased by $300 million from the previous quarter and the company said the share of credit overdue by 30 days fell by 0.3% to 2.3%.\u00a0<\/span><\/p>\n

        The company forecast fiscal Q1 revenue between $430 million and $455 million.\u00a0<\/span><\/p>\n

        AMC Braces For Stock Conversion<\/span><\/h2>\n

        AMC Entertainment <\/b>(AMC) shares are up 0.8% in premarket trade ahead of the anticipated stock conversion at the open.\u00a0<\/span><\/p>\n

        The gains come after AMC tumbled 26.7% on Thursday.\u00a0<\/span><\/p>\n

        The company\u2019s preferred equity units or APE shares are set to be converted into common stock at the open.\u00a0<\/span><\/p>\n

        AMC is also planning a 10-to-1 reverse stock split next week.\u00a0<\/span><\/p>\n

        After the conversion and split, the company\u2019s authorized share count will increase to 550 million from 52.5 million.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

        Register now for next week’s free pro trader Q&A on LinkedIn with me and T3 Trading Group’s Patrick Hawe! DJIA Futures: +169 (+0.5%) SPX Futures: +19 (+0.4%) NASDAQ Futures: +50 (+0.3%) Good morning friends! Futures are rising as traders await the Fed Chair\u2019s speech at Jackson Hole. Let\u2019s get right to it! Jackson Hole Fed Chair Jerome Powell is set to deliver the opening speech at the bank\u2019s Jackson Hole Symposium today. The market is closely watching this speech for clues about the Fed\u2019s future plans for interest rates.\u00a0 In his speech last year, Powell warned economic \u201cpain\u201d was ahead for U.S. households as the bank continued to tighten. His speech will begin just after 10:00 a.m. ET. Nordstrom Slips Nordstrom (JNW) shares are down 1.3% ahead of the open after beating Q2 expectations but maintaining its full-year outlook.\u00a0 Here\u2019s how the department store\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $0.84 vs $0.44 expected Revenue: $3.77 billion vs $3.65 billion expected Total revenue dropped 8% year over year with digital sales tumbling 13%.\u00a0 But the CEO said Nordstrom Rack sales have been on \u201ca steady upward trajectory throughout this year.\u201d Nordstrom still expects revenue to fall between 4% and 6% this fiscal year with adjusted EPS between $1.80 and $2.20. Gap Rises After Mixed Results Gap Inc (GPS) shares are rising 1.7% in premarket trade after reporting mixed Q2 results.\u00a0 Here\u2019s how the clothing retailer\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $0.34 vs $0.09 expected Revenue: $3.55 billion vs $3.57 billion expected Gap\u2019s total sales dropped 8% year over year with same-store sales falling 6% vs a 4.4% decline expected. Gap\u2019s namesake sales fell 14%, Banana Republic sales were down 11%, Old Navy sales declined 6%, and Athleta sales fell 1%. The company expects Q3 net sales to decrease year over year in the low double-digit range vs analysts\u2019 expectations for a 6.8% decline.\u00a0 Affirm Pops On Earnings Beat Affirm (AFRM) shares are up 6.1% ahead of the open after beating fiscal Q4 expectations.\u00a0 Here\u2019s how the buy-now pay-later company\u2019s results compared to analysts\u2019 estimates:\u00a0 Loss per share: $0.69 vs $0.85 expected Revenue: $446 million vs $406 million expected Revenue jumped 22% year over year. Affirm\u2019s funding capacity increased by $300 million from the previous quarter and the company said the share of credit overdue by 30 days fell by 0.3% to 2.3%.\u00a0 The company forecast fiscal Q1 revenue between $430 million and $455 million.\u00a0 AMC Braces For Stock Conversion AMC Entertainment (AMC) shares are up 0.8% in premarket trade ahead of the anticipated stock conversion at the open.\u00a0 The gains come after AMC tumbled 26.7% on Thursday.\u00a0 The company\u2019s preferred equity units or APE shares are set to be converted into common stock at the open.\u00a0 AMC is also planning a 10-to-1 reverse stock split next week.\u00a0 After the conversion and split, the company\u2019s authorized share count will increase to 550 million from 52.5 million.<\/p>\n","protected":false},"author":41,"featured_media":70092,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-70088","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\/70088","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=70088"}],"version-history":[{"count":3,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/70088\/revisions"}],"predecessor-version":[{"id":70096,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/70088\/revisions\/70096"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/70092"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=70088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=70088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=70088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}