{"id":71909,"date":"2023-10-31T09:01:00","date_gmt":"2023-10-31T13:01:00","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=71909"},"modified":"2023-10-31T09:01:00","modified_gmt":"2023-10-31T13:01:00","slug":"coffee-with-greta-end-of-october","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/10\/31\/coffee-with-greta-end-of-october\/","title":{"rendered":"Coffee With Greta: End Of October"},"content":{"rendered":"

Register now<\/strong><\/a> for tomorrow's free pro trader Q&A on LinkedIn with Scott Redler on Fed Day!<\/p>\n

DJIA Futures: <\/b>+22 (0.1%)<\/span><\/p>\n

SPX Futures: <\/b>+7 (+0.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+9 (+0.1%)<\/span><\/p>\n

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

Futures are rising on the final day of what will be the third straight losing month for the S&P 500.<\/span><\/p>\n

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

Month-End<\/span><\/h2>\n

Yields are slipping and stocks are rising as traders gear up for the final day of October and look ahead to the Fed decision.\u00a0<\/span><\/p>\n

The 10-year yield is down 6 basis points at 4.83% with the 2-year yield down 3 basis points at 5.03%.\u00a0<\/span><\/p>\n

The Central Bank\u2019s two-day policy meeting kicks off today with the rate decision released at 2:00 p.m. ET on Wednesday.\u00a0<\/span><\/p>\n

CME Group\u2019s FedWatch Tool shows over 98% of traders expecting the Fed to leave rates unchanged.\u00a0<\/span><\/p>\n

Several officials have said in recent weeks they do not see the need for rates to move any higher thanks to the recent surge in Treasury yields.\u00a0<\/span><\/p>\n

Pinterest Rallies On Q3 Earnings Beat<\/span><\/h2>\n

Pinterest <\/b>(PINS) shares are rallying 15.5% ahead of the open after beating Q3 expectations on the top and bottom line.<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $0.28 vs $0.20 expected<\/span><\/li>\n
  • Revenue: $763.2 million vs $743.5 million expected<\/span><\/li>\n<\/ul>\n

    Revenue jumped 11% year over year.<\/span><\/p>\n

    Pinterest reported 482 million global monthly active users, up 8% from a year ago and higher than 473 million expected.\u00a0<\/span><\/p>\n

    Average revenue per user also beat at $1.61 vs analysts\u2019 estimates of $1.59.\u00a0<\/span><\/p>\n

    The company forecast Q4 revenue growth of 11% to 13% vs 11.3% expected by analysts.<\/span><\/p>\n

    Pfizer Drops After Revenue Miss<\/span><\/h2>\n

    Pfizer <\/b>(PFE) shares are falling 1.2% in premarket trade after reporting mixed Q3 results.\u00a0<\/span><\/p>\n

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

      \n
    • Adjusted loss per share: $0.17 vs $0.34 expected<\/span><\/li>\n
    • Revenue: $13.23 billion vs $13.34 billion expected<\/span><\/li>\n<\/ul>\n

      Revenue plunged 42% year over year as Covid product sales plummeted.\u00a0<\/span><\/p>\n

      Pfizer\u2019s Covid vaccine brought in just $1.31 billion in sales, down 70% from a year ago and lower than $1.53 billion expected.\u00a0<\/span><\/p>\n

      The Covid antiviral treatment Paxlovid posted $202 million in sales, down 97% and lower than $613.5 million expected.\u00a0<\/span><\/p>\n

      The company recorded a $5.6 billion charge for inventory write-offs during the quarter due to the lower-than-expected use of Covid products.\u00a0<\/span><\/p>\n

      Pfizer reiterated its lower full-year guidance from a few weeks ago.\u00a0<\/span><\/p>\n

      The company expected sales of $58 billion to $61 billion this year and adjusted EPS of $1.45 to $1.65.<\/span><\/p>\n

      Caterpillar Drops On Weak Outlook<\/span><\/h2>\n

      Caterpillar <\/b>(CAT) shares are down 4.9% ahead of the open despite beating Q3 expectations as the market focused on weak guidance.<\/span><\/p>\n

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

        \n
      • EPS: $5.52 vs $4.80 expected<\/span><\/li>\n
      • Revenue: $16.8 billion vs $16.6 billion expected<\/span><\/li>\n<\/ul>\n

        Revenue jumped from $15 billion a year ago, thanks to higher prices.\u00a0<\/span><\/p>\n

        Pricing added about $1.3 billion to sales in Q3 while volumes added about $350 million.\u00a0<\/span><\/p>\n

        But Caterpillar said it only expects Q4 revenue to be \u201cslightly\u201d higher year-over-year, indicating it could miss expectations.\u00a0<\/span><\/p>\n

        JetBlue Tumbles After Earnings<\/span><\/h2>\n

        JetBlue Airways <\/b>(JBLU) shares are tumbling 9.8% in premarket trade after missing Q3 expectations and cutting its full-year guidance.\u00a0<\/span><\/p>\n

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

          \n
        • Adjusted loss per share: $0.39 vs $0.25 expected<\/span><\/li>\n
        • Revenue: $2.35 billion vs $2.38 billion expected<\/span><\/li>\n<\/ul>\n

          For Q4, JetBlue now sees a loss per share of $0.35 to $0.55 vs $0.15 expected.\u00a0<\/span><\/p>\n

          The company also expects a full-year loss per share of $0.45 to $0.65 vs $0.05 to $0.40 previously.\u00a0<\/span><\/p>\n

          Analysts were estimating a full-year loss of just $0.25 per share.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

          Register now for tomorrow’s free pro trader Q&A on LinkedIn with Scott Redler on Fed Day! DJIA Futures: +22 (0.1%) SPX Futures: +7 (+0.2%) NASDAQ Futures: +9 (+0.1%) Good morning friends! Futures are rising on the final day of what will be the third straight losing month for the S&P 500. Let\u2019s get right to it! Month-End Yields are slipping and stocks are rising as traders gear up for the final day of October and look ahead to the Fed decision.\u00a0 The 10-year yield is down 6 basis points at 4.83% with the 2-year yield down 3 basis points at 5.03%.\u00a0 The Central Bank\u2019s two-day policy meeting kicks off today with the rate decision released at 2:00 p.m. ET on Wednesday.\u00a0 CME Group\u2019s FedWatch Tool shows over 98% of traders expecting the Fed to leave rates unchanged.\u00a0 Several officials have said in recent weeks they do not see the need for rates to move any higher thanks to the recent surge in Treasury yields.\u00a0 Pinterest Rallies On Q3 Earnings Beat Pinterest (PINS) shares are rallying 15.5% ahead of the open after beating Q3 expectations on the top and bottom line. Here\u2019s how the social media company\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $0.28 vs $0.20 expected Revenue: $763.2 million vs $743.5 million expected Revenue jumped 11% year over year. Pinterest reported 482 million global monthly active users, up 8% from a year ago and higher than 473 million expected.\u00a0 Average revenue per user also beat at $1.61 vs analysts\u2019 estimates of $1.59.\u00a0 The company forecast Q4 revenue growth of 11% to 13% vs 11.3% expected by analysts. Pfizer Drops After Revenue Miss Pfizer (PFE) shares are falling 1.2% in premarket trade after reporting mixed Q3 results.\u00a0 Here\u2019s how the pharmaceutical giant\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted loss per share: $0.17 vs $0.34 expected Revenue: $13.23 billion vs $13.34 billion expected Revenue plunged 42% year over year as Covid product sales plummeted.\u00a0 Pfizer\u2019s Covid vaccine brought in just $1.31 billion in sales, down 70% from a year ago and lower than $1.53 billion expected.\u00a0 The Covid antiviral treatment Paxlovid posted $202 million in sales, down 97% and lower than $613.5 million expected.\u00a0 The company recorded a $5.6 billion charge for inventory write-offs during the quarter due to the lower-than-expected use of Covid products.\u00a0 Pfizer reiterated its lower full-year guidance from a few weeks ago.\u00a0 The company expected sales of $58 billion to $61 billion this year and adjusted EPS of $1.45 to $1.65. Caterpillar Drops On Weak Outlook Caterpillar (CAT) shares are down 4.9% ahead of the open despite beating Q3 expectations as the market focused on weak guidance. Here\u2019s how the heavy equipment maker\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $5.52 vs $4.80 expected Revenue: $16.8 billion vs $16.6 billion expected Revenue jumped from $15 billion a year ago, thanks to higher prices.\u00a0 Pricing added about $1.3 billion to sales in Q3 while volumes added about $350 million.\u00a0 But Caterpillar said it only expects Q4 revenue to be \u201cslightly\u201d higher year-over-year, indicating it could miss expectations.\u00a0 JetBlue Tumbles After Earnings JetBlue Airways (JBLU) shares are tumbling 9.8% in premarket trade after missing Q3 expectations and cutting its full-year guidance.\u00a0 Here\u2019s how the airline\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted loss per share: $0.39 vs $0.25 expected Revenue: $2.35 billion vs $2.38 billion expected For Q4, JetBlue now sees a loss per share of $0.35 to $0.55 vs $0.15 expected.\u00a0 The company also expects a full-year loss per share of $0.45 to $0.65 vs $0.05 to $0.40 previously.\u00a0 Analysts were estimating a full-year loss of just $0.25 per share.<\/p>\n","protected":false},"author":41,"featured_media":71912,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-71909","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\/71909","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=71909"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71909\/revisions"}],"predecessor-version":[{"id":71915,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71909\/revisions\/71915"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/71912"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=71909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=71909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=71909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}