{"id":71638,"date":"2023-10-16T09:03:04","date_gmt":"2023-10-16T13:03:04","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=71638"},"modified":"2023-10-16T09:03:04","modified_gmt":"2023-10-16T13:03:04","slug":"coffee-with-greta-busy-earnings-week","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/10\/16\/coffee-with-greta-busy-earnings-week\/","title":{"rendered":"Coffee With Greta: Busy Earnings Week"},"content":{"rendered":"<p><b><a href=\"http:\/\/t3trading.com\/cwapt-david\">Register now<\/a> for this week's free trading Q&A on LinkedIn with David Prince!<\/b><\/p>\n<p><b>DJIA Futures: <\/b><span style=\"font-weight: 400;\">+208 (+0.6%)<\/span><\/p>\n<p><b>SPX Futures: <\/b><span style=\"font-weight: 400;\">+25 (+0.6%)<\/span><\/p>\n<p><b>NASDAQ Futures: <\/b><span style=\"font-weight: 400;\">+55 (+0.4%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Good morning friends!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Futures are higher as traders gear up for a busy week of earnings.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s get right to it!<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Busy Earnings Week<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">This will be an important week of earnings for traders with several key names scheduled to report.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here are the highlights:\u00a0<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">Tuesday AM:<\/span><b> Bank of America <\/b><span style=\"font-weight: 400;\">(BAC), <\/span><b>Goldman Sachs<\/b><span style=\"font-weight: 400;\"> (GS), <\/span><b>Johnson & Johnson <\/b><span style=\"font-weight: 400;\">(JNJ)<\/span><\/li>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">Tuesday PM: <\/span><b>United Airlines<\/b><span style=\"font-weight: 400;\"> (UAL)<\/span><\/li>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">Wednesday AM: <\/span><b>Morgan Stanley<\/b><span style=\"font-weight: 400;\"> (MS), <\/span><b>Procter & Gamble<\/b><span style=\"font-weight: 400;\"> (PG)<\/span><\/li>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">Wednesday PM: <\/span><b>Tesla <\/b><span style=\"font-weight: 400;\">(TSLA), <\/span><b>Netflix <\/b><span style=\"font-weight: 400;\">(NFLX)<\/span><\/li>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">Thursday AM: <\/span><b>AT&T <\/b><span style=\"font-weight: 400;\">(T), <\/span><b>American Airlines <\/b><span style=\"font-weight: 400;\">(AAL)<\/span><\/li>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">Thursday PM: <\/span><b>Taiwan Semiconductor <\/b><span style=\"font-weight: 400;\">(TSM)<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">Pfizer Slashes Guidance<\/span><\/h2>\n<p><b>Pfizer <\/b><span style=\"font-weight: 400;\">(PFE) shares are slipping 0.2% ahead of the open after slashing its full-year guidance.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The pharmaceutical giant cut its outlook for both earnings and revenue this year on Friday.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Pfizer now expects 2023 sales between $58 billion and $61 billion vs $67 billion to $70 billion previously.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company said that lower revenue outlook was \u201csolely due to its Covid products\u201d.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Pfizer expects revenue from its Covid treatment, Paxlovid, to come in $7 billion lower than previously estimated and vaccine sales to be $2 billion lower than previously expected.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company forecast full-year adjusted EPS of $1.45 to $1.65 vs $3.25 to $3.45 previously.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Rite Aid Files For Bankruptcy<\/span><\/h2>\n<p><b>Rite Aid <\/b><span style=\"font-weight: 400;\">(RAD) shares are dropping 5.6% in premarket trade after filing for Chapter 11 bankruptcy protection.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The drugstore chain submitted that filing in New Jersey on Sunday and said it would begin restructuring to significantly reduce its debt.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Rite Aid said it reached a restructuring deal with its creditors which includes closing underperforming stores.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Lenders also agreed to extend $3.45 billion in new funding to \u201cprovide sufficient liquidity\u201d through the restructuring.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Rite Aid also appointed <\/span><a href=\"https:\/\/news.riteaid.com\/press-releases\/press-release-details\/2023\/Rite-Aid-Corporation-Appoints-Jeffrey-S.-Stein-Chief-Executive-Officer\/default.aspx\"><span style=\"font-weight: 400;\">Jeffrey Stein<\/span><\/a><span style=\"font-weight: 400;\"> as its new CEO, Chief Restructuring Officer, and a member of the Board on Sunday.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Charles Schwab Earnings Beat<\/span><\/h2>\n<p><b>Charles Schwab <\/b><span style=\"font-weight: 400;\">(SCHW) shares are up 0.3% ahead of the open after beating Q3 profit expectations.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how the financial services company\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Adjusted EPS: $0.77 vs $0.74 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue: $4.606 billion vs $4.615 billion expected<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Revenue dropped 16% year over year while net income tumbled 31%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Net interest revenue was down 23.5%, asset management and administration fee revenue rose 16.9%, and trading revenue dropped 17.4%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Schwab\u2019s bank deposits fell to $284.4 billion from $304.4 billion in Q2.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Register now for this week&#8217;s free trading Q&#038;A on LinkedIn with David Prince! DJIA Futures: +208 (+0.6%) SPX Futures: +25 (+0.6%) NASDAQ Futures: +55 (+0.4%) Good morning friends! Futures are higher as traders gear up for a busy week of earnings. Let\u2019s get right to it! Busy Earnings Week This will be an important week of earnings for traders with several key names scheduled to report.\u00a0 Here are the highlights:\u00a0 Tuesday AM: Bank of America (BAC), Goldman Sachs (GS), Johnson &#038; Johnson (JNJ) Tuesday PM: United Airlines (UAL) Wednesday AM: Morgan Stanley (MS), Procter &#038; Gamble (PG) Wednesday PM: Tesla (TSLA), Netflix (NFLX) Thursday AM: AT&#038;T (T), American Airlines (AAL) Thursday PM: Taiwan Semiconductor (TSM) Pfizer Slashes Guidance Pfizer (PFE) shares are slipping 0.2% ahead of the open after slashing its full-year guidance.\u00a0 The pharmaceutical giant cut its outlook for both earnings and revenue this year on Friday.\u00a0 Pfizer now expects 2023 sales between $58 billion and $61 billion vs $67 billion to $70 billion previously.\u00a0 The company said that lower revenue outlook was \u201csolely due to its Covid products\u201d. Pfizer expects revenue from its Covid treatment, Paxlovid, to come in $7 billion lower than previously estimated and vaccine sales to be $2 billion lower than previously expected.\u00a0 The company forecast full-year adjusted EPS of $1.45 to $1.65 vs $3.25 to $3.45 previously.\u00a0 Rite Aid Files For Bankruptcy Rite Aid (RAD) shares are dropping 5.6% in premarket trade after filing for Chapter 11 bankruptcy protection. The drugstore chain submitted that filing in New Jersey on Sunday and said it would begin restructuring to significantly reduce its debt.\u00a0 Rite Aid said it reached a restructuring deal with its creditors which includes closing underperforming stores.\u00a0 Lenders also agreed to extend $3.45 billion in new funding to \u201cprovide sufficient liquidity\u201d through the restructuring.\u00a0 Rite Aid also appointed Jeffrey Stein as its new CEO, Chief Restructuring Officer, and a member of the Board on Sunday. Charles Schwab Earnings Beat Charles Schwab (SCHW) shares are up 0.3% ahead of the open after beating Q3 profit expectations.\u00a0 Here\u2019s how the financial services company\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $0.77 vs $0.74 expected Revenue: $4.606 billion vs $4.615 billion expected Revenue dropped 16% year over year while net income tumbled 31%.\u00a0 Net interest revenue was down 23.5%, asset management and administration fee revenue rose 16.9%, and trading revenue dropped 17.4%. Schwab\u2019s bank deposits fell to $284.4 billion from $304.4 billion in Q2.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":71641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-71638","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\/71638","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=71638"}],"version-history":[{"count":1,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71638\/revisions"}],"predecessor-version":[{"id":71642,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71638\/revisions\/71642"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/71641"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=71638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=71638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=71638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}