{"id":72231,"date":"2023-11-16T08:56:42","date_gmt":"2023-11-16T13:56:42","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=72231"},"modified":"2023-11-16T08:56:42","modified_gmt":"2023-11-16T13:56:42","slug":"coffee-with-greta-rally-takes-a-breather","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/11\/16\/coffee-with-greta-rally-takes-a-breather\/","title":{"rendered":"Coffee With Greta: Rally Takes A Breather"},"content":{"rendered":"

DJIA Futures: <\/b>-46 (-0.1%)<\/span><\/p>\n

SPX Futures: <\/b>-2 (-0.03%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-24 (-0.2%)<\/span><\/p>\n

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

Futures are lower as the November rally takes a breather and traders digest more retail earnings.<\/span><\/p>\n

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

Walmart Slides On Cautious Outlook<\/span><\/h2>\n

Walmart <\/b>(WMT) shares are down 6.1% ahead of the open after beating Q3 expectations but issuing cautious guidance.<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $1.53 vs $1.52 expected<\/span><\/li>\n
  • Revenue: $160.80 billion vs $159.72 billion expected<\/span><\/li>\n<\/ul>\n

    Customer transactions rose 3.4% year over year while the average ticket increased 1.5%.\u00a0<\/span><\/p>\n

    Online sales in the U.S. jumped 24% from a year ago and 15% globally.\u00a0<\/span><\/p>\n

    Walmart forecast full-year adjusted EPS of $6.40 to $6.48, lower than $6.48 expected by analysts.\u00a0<\/span><\/p>\n

    Macy\u2019s Pops On Earnings Beat<\/span><\/h2>\n

    Macy\u2019s<\/b> (M) shares are up 8.1% in premarket trade after beating Q3 expectations.\u00a0<\/span><\/p>\n

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

      \n
    • Adjusted EPS: $0.21 vs $0 expected<\/span><\/li>\n
    • Revenue: $4.86 billion vs $4.82 billion expected<\/span><\/li>\n<\/ul>\n

      On an owned-plus-licensed basis, same-store sales declined 6.3% year over year vs the 7.75% decline expected.<\/span><\/p>\n

      Merchandise inventories fell 6% while lower permanent markdowns on merchandise boosted Macy\u2019s gross margin to 40.3% from 38.7% a year ago.\u00a0<\/span><\/p>\n

      Macy\u2019s adjusted its full-year guidance after the beat, raising the low end of its expected sales range to $22.9 billion from $22.8 billion previously.\u00a0<\/span><\/p>\n

      The retailer expects same-store sales to decline up to 7% vs its previous outlook for an up to 7.5% drop.\u00a0<\/span><\/p>\n

      Macy\u2019s forecast full-year adjusted EPS of $2.88 to $3.13 vs $2.70 to $3.20 previously.\u00a0<\/span><\/p>\n

      Weekly Jobless Claims Rise To 3-Month High<\/span><\/h2>\n

      Weekly jobless claims rose more than expected last week.\u00a0<\/span><\/p>\n

      The Labor Department reported 231,000 Americans filed initial unemployment claims.\u00a0<\/span><\/p>\n

      That was up by 13,000 from the previous week and higher than 222,000.\u00a0<\/span><\/p>\n

      It was the highest total of new claims in three months.\u00a0<\/span><\/p>\n

      Continuing claims rose for the eight week in a row to 1.83 million, the highest in seven months.<\/span><\/p>\n

      The continued increase in those claims indicates it is taking unemployed workers longer to find new jobs.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

      DJIA Futures: -46 (-0.1%) SPX Futures: -2 (-0.03%) NASDAQ Futures: -24 (-0.2%) Good morning friends! Futures are lower as the November rally takes a breather and traders digest more retail earnings. Let\u2019s get right to it! Walmart Slides On Cautious Outlook Walmart (WMT) shares are down 6.1% ahead of the open after beating Q3 expectations but issuing cautious guidance. Here\u2019s how the big box retailer\u2019s results compared to analysts\u2019 estimates: Adjusted EPS: $1.53 vs $1.52 expected Revenue: $160.80 billion vs $159.72 billion expected Customer transactions rose 3.4% year over year while the average ticket increased 1.5%.\u00a0 Online sales in the U.S. jumped 24% from a year ago and 15% globally.\u00a0 Walmart forecast full-year adjusted EPS of $6.40 to $6.48, lower than $6.48 expected by analysts.\u00a0 Macy\u2019s Pops On Earnings Beat Macy\u2019s (M) shares are up 8.1% in premarket trade after beating Q3 expectations.\u00a0 Here\u2019s how the department store chain\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $0.21 vs $0 expected Revenue: $4.86 billion vs $4.82 billion expected On an owned-plus-licensed basis, same-store sales declined 6.3% year over year vs the 7.75% decline expected. Merchandise inventories fell 6% while lower permanent markdowns on merchandise boosted Macy\u2019s gross margin to 40.3% from 38.7% a year ago.\u00a0 Macy\u2019s adjusted its full-year guidance after the beat, raising the low end of its expected sales range to $22.9 billion from $22.8 billion previously.\u00a0 The retailer expects same-store sales to decline up to 7% vs its previous outlook for an up to 7.5% drop.\u00a0 Macy\u2019s forecast full-year adjusted EPS of $2.88 to $3.13 vs $2.70 to $3.20 previously.\u00a0 Weekly Jobless Claims Rise To 3-Month High Weekly jobless claims rose more than expected last week.\u00a0 The Labor Department reported 231,000 Americans filed initial unemployment claims.\u00a0 That was up by 13,000 from the previous week and higher than 222,000.\u00a0 It was the highest total of new claims in three months.\u00a0 Continuing claims rose for the eight week in a row to 1.83 million, the highest in seven months. The continued increase in those claims indicates it is taking unemployed workers longer to find new jobs.<\/p>\n","protected":false},"author":41,"featured_media":72235,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-72231","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\/72231","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=72231"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72231\/revisions"}],"predecessor-version":[{"id":72237,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72231\/revisions\/72237"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/72235"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=72231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=72231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=72231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}