{"id":72626,"date":"2023-12-05T08:57:33","date_gmt":"2023-12-05T13:57:33","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=72626"},"modified":"2023-12-05T08:57:33","modified_gmt":"2023-12-05T13:57:33","slug":"coffee-with-greta-rally-paused","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/12\/05\/coffee-with-greta-rally-paused\/","title":{"rendered":"Coffee With Greta: Rally Paused"},"content":{"rendered":"

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

DJIA Futures: <\/b>-79 (-0.2%)<\/span><\/p>\n

SPX Futures: <\/b>-13 (-0.3%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-60 (-0.4%)<\/span><\/p>\n

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

Futures are falling as the market rally takes a pause.<\/span><\/p>\n

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

Waiting For Data<\/span><\/h2>\n

The major indexes are extended losses today after falling on Monday.\u00a0<\/span><\/p>\n

Traders are awaiting important labor market data this week while Fed officials are in a blackout period ahead of their meeting next week.\u00a0<\/span><\/p>\n

The Labor Department releases the October job openings and labor turnover survey (JOLTS) at 10:00 a.m. ET today.\u00a0<\/span><\/p>\n

Then payroll firm ADP will release its private employment report for November ahead of the market open tomorrow.\u00a0<\/span><\/p>\n

The official November jobs report will be released at 8:30 a.m. ET on Friday morning.\u00a0<\/span><\/p>\n

This data is key for the Fed\u2019s fight against inflation as the central bank has said it needs to see a slowdown in the labor market.<\/span><\/p>\n

GitLab Soars On Earnings Beat<\/span><\/h2>\n

GitLab <\/b>(GTLB) shares are rallying 12.5% ahead of the open after beating Q3 expectations across the board.\u00a0<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $0.09 vs $0.01 loss expected<\/span><\/li>\n
  • Revenue: $149.7 million vs $141.5 million expected<\/span><\/li>\n<\/ul>\n

    It was the first quarter Gitlab has posted an adjusted profit.\u00a0<\/span><\/p>\n

    Revenue jumped 32% year over year and the company had 874 customers contributing over $100,000 million in annual recurring revenue, up 37% from a year ago.<\/span><\/p>\n

    GitLab forecast Q4 adjusted EPS of $0.08 to $0.09 on $157 million to $158 million in revenue.\u00a0<\/span><\/p>\n

    Analysts were forecasting a net loss of $0.01 per share on $150.2 million in revenue.<\/span><\/p>\n

    CVS Jumps On Strong Guidance<\/span><\/h2>\n

    CVS Health <\/b>(CVS) shares are up 2.1% in premarket trade after issuing better-than-expected revenue guidance for 2024.\u00a0<\/span><\/p>\n

    The pharmacy giant said it expects full-year revenue of at least $366 billion vs analysts\u2019 expectations for $344.5 billion.\u00a0<\/span><\/p>\n

    CVS forecast operating income of at least $15 billion, adjusted operating income of at least $17.2 billion, adjusted EPS of $8.50, and at least $12.5 billion in cash flow from operations.\u00a0<\/span><\/p>\n

    The company also announced the board approved a new quarterly dividend of $0.665, an approximate 10% increase, which will begin in the February quarter.\u00a0<\/span><\/p>\n

    The President and CEO said, “We are successfully executing on our strategy to advance the future of health care while unlocking new value for consumers. The combination of our businesses, and the key growth areas we have invested in, drive our ability to lower the total cost of care, improve health outcomes, and deliver on our commitments to our customers, consumers, and shareholders.”<\/span><\/p>\n

    In Case You Missed It<\/span><\/h2>\n
      \n
    • U.S. factory orders fell more than expected in October. The Commerce Department reported factory orders fell 3.6% vs expectations for a 3.5% decline. It was only the second decline in the past eight months. Non-defense aircraft orders, mostly <\/span>Boeing <\/b>(BA) planes, saw a steep drop. Excluding transportation, factory orders were down just 1.2%.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

      Register now for tomorrow’s free pro trader Q&A on LinkedIn with Derrick Oldensmith! DJIA Futures: -79 (-0.2%) SPX Futures: -13 (-0.3%) NASDAQ Futures: -60 (-0.4%) Good morning friends! Futures are falling as the market rally takes a pause. Let\u2019s get right to it! Waiting For Data The major indexes are extended losses today after falling on Monday.\u00a0 Traders are awaiting important labor market data this week while Fed officials are in a blackout period ahead of their meeting next week.\u00a0 The Labor Department releases the October job openings and labor turnover survey (JOLTS) at 10:00 a.m. ET today.\u00a0 Then payroll firm ADP will release its private employment report for November ahead of the market open tomorrow.\u00a0 The official November jobs report will be released at 8:30 a.m. ET on Friday morning.\u00a0 This data is key for the Fed\u2019s fight against inflation as the central bank has said it needs to see a slowdown in the labor market. GitLab Soars On Earnings Beat GitLab (GTLB) shares are rallying 12.5% ahead of the open after beating Q3 expectations across the board.\u00a0 Here\u2019s how the developer tools software maker\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $0.09 vs $0.01 loss expected Revenue: $149.7 million vs $141.5 million expected It was the first quarter Gitlab has posted an adjusted profit.\u00a0 Revenue jumped 32% year over year and the company had 874 customers contributing over $100,000 million in annual recurring revenue, up 37% from a year ago. GitLab forecast Q4 adjusted EPS of $0.08 to $0.09 on $157 million to $158 million in revenue.\u00a0 Analysts were forecasting a net loss of $0.01 per share on $150.2 million in revenue. CVS Jumps On Strong Guidance CVS Health (CVS) shares are up 2.1% in premarket trade after issuing better-than-expected revenue guidance for 2024.\u00a0 The pharmacy giant said it expects full-year revenue of at least $366 billion vs analysts\u2019 expectations for $344.5 billion.\u00a0 CVS forecast operating income of at least $15 billion, adjusted operating income of at least $17.2 billion, adjusted EPS of $8.50, and at least $12.5 billion in cash flow from operations.\u00a0 The company also announced the board approved a new quarterly dividend of $0.665, an approximate 10% increase, which will begin in the February quarter.\u00a0 The President and CEO said, “We are successfully executing on our strategy to advance the future of health care while unlocking new value for consumers. The combination of our businesses, and the key growth areas we have invested in, drive our ability to lower the total cost of care, improve health outcomes, and deliver on our commitments to our customers, consumers, and shareholders.” In Case You Missed It U.S. factory orders fell more than expected in October. The Commerce Department reported factory orders fell 3.6% vs expectations for a 3.5% decline. It was only the second decline in the past eight months. Non-defense aircraft orders, mostly Boeing (BA) planes, saw a steep drop. Excluding transportation, factory orders were down just 1.2%.<\/p>\n","protected":false},"author":41,"featured_media":72629,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-72626","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\/72626","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=72626"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72626\/revisions"}],"predecessor-version":[{"id":72630,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/72626\/revisions\/72630"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/72629"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=72626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=72626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=72626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}