{"id":71655,"date":"2023-10-18T09:01:39","date_gmt":"2023-10-18T13:01:39","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=71655"},"modified":"2023-10-18T18:01:43","modified_gmt":"2023-10-18T22:01:43","slug":"coffee-with-greta-waiting-for-tsla-nflx","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/10\/18\/coffee-with-greta-waiting-for-tsla-nflx\/","title":{"rendered":"Coffee With Greta: Waiting For TSLA, NFLX"},"content":{"rendered":"

Register now<\/a> for today's free trading Q&A on LinkedIn with David Prince!<\/b><\/p>\n

DJIA Futures: <\/b>-92 (-0.3%)<\/span><\/p>\n

SPX Futures: <\/b>-21 (-0.5%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-104 (-0.7%)<\/span><\/p>\n

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

Futures are lower as earnings season picks up steam and traders look ahead to <\/span>Tesla <\/b>(TSLA) and <\/span>Netflix <\/b>(NFLX) after the close.<\/span><\/p>\n

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

Morgan Stanley Profits Drop<\/span><\/h2>\n

Morgan Stanley <\/b>(MS) shares are dropping 3.4% ahead of the open after topping Q3 expectations but profits were down year over year.\u00a0<\/span><\/p>\n

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

    \n
  • EPS: $1.38 vs $1.28 expected<\/span><\/li>\n
  • Revenue: $13.27 billion vs $13.23 billion expected<\/span><\/li>\n<\/ul>\n

    Profit fell 9% from a year ago while revenue rose 2%.\u00a0<\/span><\/p>\n

    Stronger than expected trading revenue helped offset misses in other divisions.<\/p>\n

    Morgan Stanley's bond trading revenue came in at $1.95 billion, about $200 million more than analysts were expecting.<\/p>\n

    Equity trading revenue of $2.51 billion beat expectations by about $100 million.<\/p>\n

    But the wealth management division's revenue of $6.4 billion missed estimates by more than $200 million.<\/p>\n

    Investment banking produced $938 million in revenue vs $1.11 billion expected.<\/p>\n

    United Airlines Falls On Weak Guidance<\/span><\/h2>\n

    United Airlines <\/b>(UAL) shares are down 4.8% in premarket trade after beating Q3 expectations but issuing weak guidance.\u00a0<\/span><\/p>\n

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

      \n
    • Adjusted EPS: $3.65 vs $3.35 expected<\/span><\/li>\n
    • Revenue: $14.48 billion vs $14.44 billion expected<\/span><\/li>\n<\/ul>\n

      United said higher fuel costs and a halt to its Tel Aviv flights will eat into profits in the current quarter.\u00a0<\/span><\/p>\n

      The company forecast Q4 adjusted EPS of $1.50 to $1.80 vs analysts\u2019 estimates of $2.06.\u00a0<\/span><\/p>\n

      For the full-year that would put adjusted earnings between $9.55 and $9.85 per share, down from its previous forecast of $11 to $12 per share.\u00a0<\/span><\/p>\n

      Jet fuel prices have surged nearly 25% since the start of the summer.\u00a0<\/span><\/p>\n

      United said Q4 revenue will rise 9% year over year if its Israel flights remain suspended through the end of the year and 10.5% if the suspension lasts only through October.\u00a0<\/span><\/p>\n

      Costs, excluding fuel, are expected to rise between 3.5% and 5%.<\/span><\/p>\n

      Procter & Gamble Beats Q3 Estimates<\/span><\/h2>\n

      Procter & Gamble <\/b>(PG) shares are up 2.2% ahead of the open after beating fiscal Q1 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

      Here\u2019s how the consumer goods maker\u2019s results compared to analysts\u2019 estimates:<\/span><\/p>\n

        \n
      • EPS: $1.83 vs $1.72 expected<\/span><\/li>\n
      • Revenue: $21.87 billion vs $21.58 billion expected<\/span><\/li>\n<\/ul>\n

        Net sales rose 6% year over year with organic revenue up 7%.\u00a0<\/span><\/p>\n

        P&G widened its fiscal 2024 revenue outlook, anticipating foreign exchange rates to be a larger drag than previously expected.\u00a0<\/span><\/p>\n

        The company forecast revenue growth of 2% to 4% vs its previous forecast of 3% to 4%.<\/span><\/p>\n

        P&G reiterated its full-year forecast for organic revenue growth.\u00a0<\/span><\/p>\n

        Home Construction Rebounds<\/span><\/h2>\n

        New home construction rebounded in September following a sharp drop the previous month.<\/span><\/p>\n

        The Commerce Department reported housing starts rose 7% last month to a seasonally adjusted annual rate of 1.36 million units.\u00a0<\/span><\/p>\n

        That was in line with expectations for an SAAR of 1.36 million units.\u00a0<\/span><\/p>\n

        Single-family starts rose 3.2% while multi-family starts jumped 17.1%.<\/span><\/p>\n

        Building permits fell less than expected, down 4.4% to a rate of 1.47 million units.\u00a0<\/span><\/p>\n

        Economists were anticipating a 6% decline to 1.45 million units.\u00a0<\/span><\/p>\n

        Single-family permits rose 1.8% while multi-family permits dropped 14%.\u00a0<\/span><\/p>\n

        Permits are a forward looking indicator for housing starts.<\/span><\/p>\n

        Mortgage Demand Drops<\/span><\/h2>\n

        Mortgage demand dropped to a 28-year low last week as rates neared 8%.\u00a0<\/span><\/p>\n

        The Mortgage Bankers Association reported total application volume fell 6.9% from the previous week, the lowest total since 1995.\u00a0<\/span><\/p>\n

        Purchase applications dropped 6% weekly and 21% annually.\u00a0<\/span><\/p>\n

        Refinance applications tumbled 10% weekly and 12% annually.\u00a0<\/span><\/p>\n

        The average 30-year contract fixed rate increased to 7.70% from 7.67%, the highest rate since November 2000.\u00a0<\/span><\/p>\n

        The adjustable-rate mortgage share was 9.3%, the highest in 11 months as more borrowers turn to these loans which offer lower upfront rates.<\/span><\/p>\n

        In Case You Missed It<\/span><\/h2>\n
          \n
        • Homebuilder sentiment dropped to a 10-month low in October as mortgage rates continue to soar. The National Association of Homebuilders Housing Market Index dropped 4 points to 40 vs 44 expected. September\u2019s index was also revised lower from 44 to 43. Any reading below 50 is considered negative. Sentiment about current sales conditions fell 4 points to 46, 6-month sales expectations dropped 5 points to 44, and buyer traffic fell 4 points to 26.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

          Register now for today’s free trading Q&A on LinkedIn with David Prince! DJIA Futures: -92 (-0.3%) SPX Futures: -21 (-0.5%) NASDAQ Futures: -104 (-0.7%) Good morning friends! Futures are lower as earnings season picks up steam and traders look ahead to Tesla (TSLA) and Netflix (NFLX) after the close. Let\u2019s get right to it! Morgan Stanley Profits Drop Morgan Stanley (MS) shares are dropping 3.4% ahead of the open after topping Q3 expectations but profits were down year over year.\u00a0 Here\u2019s how the investment bank\u2019s results compared to analysts\u2019 estimates: EPS: $1.38 vs $1.28 expected Revenue: $13.27 billion vs $13.23 billion expected Profit fell 9% from a year ago while revenue rose 2%.\u00a0 Stronger than expected trading revenue helped offset misses in other divisions. Morgan Stanley’s bond trading revenue came in at $1.95 billion, about $200 million more than analysts were expecting. Equity trading revenue of $2.51 billion beat expectations by about $100 million. But the wealth management division’s revenue of $6.4 billion missed estimates by more than $200 million. Investment banking produced $938 million in revenue vs $1.11 billion expected. United Airlines Falls On Weak Guidance United Airlines (UAL) shares are down 4.8% in premarket trade after beating Q3 expectations but issuing weak guidance.\u00a0 Here\u2019s how the airline\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $3.65 vs $3.35 expected Revenue: $14.48 billion vs $14.44 billion expected United said higher fuel costs and a halt to its Tel Aviv flights will eat into profits in the current quarter.\u00a0 The company forecast Q4 adjusted EPS of $1.50 to $1.80 vs analysts\u2019 estimates of $2.06.\u00a0 For the full-year that would put adjusted earnings between $9.55 and $9.85 per share, down from its previous forecast of $11 to $12 per share.\u00a0 Jet fuel prices have surged nearly 25% since the start of the summer.\u00a0 United said Q4 revenue will rise 9% year over year if its Israel flights remain suspended through the end of the year and 10.5% if the suspension lasts only through October.\u00a0 Costs, excluding fuel, are expected to rise between 3.5% and 5%. Procter & Gamble Beats Q3 Estimates Procter & Gamble (PG) shares are up 2.2% ahead of the open after beating fiscal Q1 expectations on the top and bottom line.\u00a0 Here\u2019s how the consumer goods maker\u2019s results compared to analysts\u2019 estimates: EPS: $1.83 vs $1.72 expected Revenue: $21.87 billion vs $21.58 billion expected Net sales rose 6% year over year with organic revenue up 7%.\u00a0 P&G widened its fiscal 2024 revenue outlook, anticipating foreign exchange rates to be a larger drag than previously expected.\u00a0 The company forecast revenue growth of 2% to 4% vs its previous forecast of 3% to 4%. P&G reiterated its full-year forecast for organic revenue growth.\u00a0 Home Construction Rebounds New home construction rebounded in September following a sharp drop the previous month. The Commerce Department reported housing starts rose 7% last month to a seasonally adjusted annual rate of 1.36 million units.\u00a0 That was in line with expectations for an SAAR of 1.36 million units.\u00a0 Single-family starts rose 3.2% while multi-family starts jumped 17.1%. Building permits fell less than expected, down 4.4% to a rate of 1.47 million units.\u00a0 Economists were anticipating a 6% decline to 1.45 million units.\u00a0 Single-family permits rose 1.8% while multi-family permits dropped 14%.\u00a0 Permits are a forward looking indicator for housing starts. Mortgage Demand Drops Mortgage demand dropped to a 28-year low last week as rates neared 8%.\u00a0 The Mortgage Bankers Association reported total application volume fell 6.9% from the previous week, the lowest total since 1995.\u00a0 Purchase applications dropped 6% weekly and 21% annually.\u00a0 Refinance applications tumbled 10% weekly and 12% annually.\u00a0 The average 30-year contract fixed rate increased to 7.70% from 7.67%, the highest rate since November 2000.\u00a0 The adjustable-rate mortgage share was 9.3%, the highest in 11 months as more borrowers turn to these loans which offer lower upfront rates. In Case You Missed It Homebuilder sentiment dropped to a 10-month low in October as mortgage rates continue to soar. The National Association of Homebuilders Housing Market Index dropped 4 points to 40 vs 44 expected. September\u2019s index was also revised lower from 44 to 43. Any reading below 50 is considered negative. Sentiment about current sales conditions fell 4 points to 46, 6-month sales expectations dropped 5 points to 44, and buyer traffic fell 4 points to 26.<\/p>\n","protected":false},"author":41,"featured_media":71676,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-71655","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\/71655","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=71655"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71655\/revisions"}],"predecessor-version":[{"id":71664,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71655\/revisions\/71664"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/71676"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=71655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=71655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=71655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}