{"id":70266,"date":"2023-08-29T09:03:53","date_gmt":"2023-08-29T13:03:53","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=70266"},"modified":"2023-08-29T09:06:12","modified_gmt":"2023-08-29T13:06:12","slug":"coffee-with-greta-waiting-on-data","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/08\/29\/coffee-with-greta-waiting-on-data\/","title":{"rendered":"Coffee With Greta: Waiting On Data"},"content":{"rendered":"

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

DJIA Futures: <\/b>-27 (-0.1%)<\/span><\/p>\n

SPX Futures: <\/b>-2 (-0.1%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-17 (-0.1%)<\/span><\/p>\n

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

Futures are flat but lower as traders await key economic data later today.<\/span><\/p>\n

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

Best Buy Beats Expectations, Lowers Outlook<\/span><\/h2>\n

Best Buy Inc <\/b>(BBY) shares are up 2.7% ahead of the open after beating Q2 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $1.22 vs $1.06 expected<\/span><\/li>\n
  • Revenue: $9.58 billion vs $9.52 billion expected<\/span><\/li>\n<\/ul>\n

    Comparable sales fell 6.2% year over year while online sales dropped 7.1%.<\/span><\/p>\n

    The CEO said Best Buy expects this year to be the \u201clow point in tech demand\u201d before sales bounce back next year.\u00a0<\/span><\/p>\n

    The company forecast full-year revenue between $43.8 billion and $44.5 billion vs $43.8 billion to $45.2 billion previously.\u00a0<\/span><\/p>\n

    Best Buy expects comparable sales to decline 4.5% to 6% this year vs 3% to 6% previously.\u00a0<\/span><\/p>\n

    Big Lots Surges<\/span><\/h2>\n

    Big Lots <\/b>(BIG) shares are surging 14.3% in premarket trade after reporting a narrower than expected Q2 loss.\u00a0<\/span><\/p>\n

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

      \n
    • Adjusted loss per share: $3.24 vs $4.11 expected<\/span><\/li>\n
    • Revenue: $1.14 billion vs $1.1 billion expected<\/span><\/li>\n<\/ul>\n

      Big Lots did not provide a Q3 earnings forecast but said it expects comparable store sales to decline in the low-teen range.<\/span><\/p>\n

      The company said that would be \u201cmodestly improved\u201d from Q2.\u00a0<\/span><\/p>\n

      The retailer then expects comparable store sales to improve further in Q4.<\/span><\/p>\n

      Big Lots\u2019 CEO said, \u201cOur core lower-income customer remains under significant pressure and has limited capacity for higher-ticket discretionary purchases. However, we did see some sequential improvement in the quarter, and were pleased to come in ahead of or in line with our guidance on all key metrics.\u201d<\/span><\/p>\n

      Nio\u2019s Q2 Loss Widens<\/span><\/h2>\n

      Nio <\/b>(NIO) shares are dropping 6.3% ahead of the open after reporting a widening loss in the second quarter and missing expectations.<\/span><\/p>\n

      Here\u2019s how the Chinese electric vehicle makers results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

        \n
      • Adjusted loss per share: 3.28 yuan vs 2.45 yuan expected<\/span><\/li>\n
      • Revenue: 8.77 billion yuan vs 9.25 billion yuan expected<\/span><\/li>\n<\/ul>\n

        That loss was more than twice the loss Nio reported a year ago.<\/span><\/p>\n

        The company\u2019s gross margin on vehicles rose to 6.2% from 5.1% in Q1 but down from 16.7% a year ago.\u00a0<\/span><\/p>\n

        Nio delivered just 23,520 vehicles in Q2 as it sold down the last of its outgoing models.\u00a0<\/span><\/p>\n

        Since then the company has launched two new models and delivered 20,462 vehicles in July alone.\u00a0<\/span><\/p>\n

        The CEO said, \u201cWe expect a solid growth in vehicle deliveries in the second half of 2023.\u201d<\/span><\/p>\n

        The company forecast Q3 deliveries between 55,000 and 57,000 vehicles.<\/span><\/p>\n

        Coming Up: JOLTS, Consumer Confidence<\/span><\/h2>\n

        The first piece of this week\u2019s important labor market data is set to be released today.<\/span><\/p>\n

        The Labor Department releases its July Job Openings and Labor Turnover Survey (JOLTS) at 10:00 a.m. ET.\u00a0<\/span><\/p>\n

        That report is expected to show the number of available jobs fell to 9.5 million in July from 9.58 million in June.<\/span><\/p>\n

        The Conference Board also releases its August consumer confidence index at 10:00 a.m.<\/span><\/p>\n

        That survey is expected to slip to 116 from 117 in July.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

        Register now for tomorrow’s free pro trader Q&A on LinkedIn with me and T3 Trading Group’s Patrick Hawe! DJIA Futures: -27 (-0.1%) SPX Futures: -2 (-0.1%) NASDAQ Futures: -17 (-0.1%) Good morning friends! Futures are flat but lower as traders await key economic data later today. Let\u2019s get right to it! Best Buy Beats Expectations, Lowers Outlook Best Buy Inc (BBY) shares are up 2.7% ahead of the open after beating Q2 expectations on the top and bottom line.\u00a0 Here\u2019s how the consumer electronics retailer\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $1.22 vs $1.06 expected Revenue: $9.58 billion vs $9.52 billion expected Comparable sales fell 6.2% year over year while online sales dropped 7.1%. The CEO said Best Buy expects this year to be the \u201clow point in tech demand\u201d before sales bounce back next year.\u00a0 The company forecast full-year revenue between $43.8 billion and $44.5 billion vs $43.8 billion to $45.2 billion previously.\u00a0 Best Buy expects comparable sales to decline 4.5% to 6% this year vs 3% to 6% previously.\u00a0 Big Lots Surges Big Lots (BIG) shares are surging 14.3% in premarket trade after reporting a narrower than expected Q2 loss.\u00a0 Here\u2019s how the retailer\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted loss per share: $3.24 vs $4.11 expected Revenue: $1.14 billion vs $1.1 billion expected Big Lots did not provide a Q3 earnings forecast but said it expects comparable store sales to decline in the low-teen range. The company said that would be \u201cmodestly improved\u201d from Q2.\u00a0 The retailer then expects comparable store sales to improve further in Q4. Big Lots\u2019 CEO said, \u201cOur core lower-income customer remains under significant pressure and has limited capacity for higher-ticket discretionary purchases. However, we did see some sequential improvement in the quarter, and were pleased to come in ahead of or in line with our guidance on all key metrics.\u201d Nio\u2019s Q2 Loss Widens Nio (NIO) shares are dropping 6.3% ahead of the open after reporting a widening loss in the second quarter and missing expectations. Here\u2019s how the Chinese electric vehicle makers results compared to analysts\u2019 estimates:\u00a0 Adjusted loss per share: 3.28 yuan vs 2.45 yuan expected Revenue: 8.77 billion yuan vs 9.25 billion yuan expected That loss was more than twice the loss Nio reported a year ago. The company\u2019s gross margin on vehicles rose to 6.2% from 5.1% in Q1 but down from 16.7% a year ago.\u00a0 Nio delivered just 23,520 vehicles in Q2 as it sold down the last of its outgoing models.\u00a0 Since then the company has launched two new models and delivered 20,462 vehicles in July alone.\u00a0 The CEO said, \u201cWe expect a solid growth in vehicle deliveries in the second half of 2023.\u201d The company forecast Q3 deliveries between 55,000 and 57,000 vehicles. Coming Up: JOLTS, Consumer Confidence The first piece of this week\u2019s important labor market data is set to be released today. The Labor Department releases its July Job Openings and Labor Turnover Survey (JOLTS) at 10:00 a.m. ET.\u00a0 That report is expected to show the number of available jobs fell to 9.5 million in July from 9.58 million in June. The Conference Board also releases its August consumer confidence index at 10:00 a.m. That survey is expected to slip to 116 from 117 in July.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":70271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-70266","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\/70266","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=70266"}],"version-history":[{"count":3,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/70266\/revisions"}],"predecessor-version":[{"id":70276,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/70266\/revisions\/70276"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/70271"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=70266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=70266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=70266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}