{"id":73392,"date":"2024-01-19T09:05:02","date_gmt":"2024-01-19T14:05:02","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=73392"},"modified":"2024-01-19T09:05:02","modified_gmt":"2024-01-19T14:05:02","slug":"coffee-with-greta-new-record-within-sight","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2024\/01\/19\/coffee-with-greta-new-record-within-sight\/","title":{"rendered":"Coffee With Greta: New Record Within Sight"},"content":{"rendered":"

DJIA Futures: <\/b>+194 (+0.5%)<\/span><\/p>\n

SPX Futures: <\/b>+22 (+0.4%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+111 (+0.7%)<\/span><\/p>\n

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

Futures are up with the <\/span>S&P 500 <\/b>marching toward a fresh record high.<\/span><\/p>\n

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

Wayfair Rallies On Job Cut Announcement<\/span><\/h2>\n

Wayfair <\/b>(W) shares are rallying 16.2% ahead of the open after announcing it is laying off 13% of its global workforce.\u00a0<\/span><\/p>\n

The digital home goods retailer said it plans to cut around 1,650 employees.\u00a0<\/span><\/p>\n

The company said this is part of its efforts to reduce costs after going \u201coverboard\u201d with corporate hiring during the pandemic.\u00a0<\/span><\/p>\n

The cuts include 19% of its corporate team, focused on those in management and leadership positions.\u00a0<\/span><\/p>\n

The restructuring is expected to save Wayfair about $280 million.\u00a0<\/span><\/p>\n

Ford Announces Production Adjustments\u00a0<\/span><\/h2>\n

Ford Motor <\/b>(F) shares are flat in premarket trade after announcing production changes this morning.\u00a0<\/span><\/p>\n

The automaker said it will cut production of its all-electric F-150 Lightning pickup truck and increase production of the Bronco SUV and Ranger pickup truck.\u00a0<\/span><\/p>\n

Ford said the changes are meant to match production with customer demand.\u00a0<\/span><\/p>\n

The company will reduce production of the Lightning pickup at its Rouge Electric Vehicle Center in Michigan to one production shift from two starting April 1.\u00a0<\/span><\/p>\n

The move will impact roughly 1,400 employees but Ford did not detail how it will impact production numbers.\u00a0<\/span><\/p>\n

Nearly half of those impacted employees will transfer to nearby plants, including the Michigan Assembly Plant that produces the Bronco and Ranger.\u00a0<\/span><\/p>\n

That plant will add a third shift in the summer to increase production of those two vehicles, adding 900 jobs to the plant.\u00a0<\/span><\/p>\n

Other impacted workers will participate in a \u201cSpecial Retirement Incentive Program\u201d agreed to in the new UAW contract.<\/span><\/p>\n

Spirit Surges After Hiking Q4 Forecast<\/span><\/h2>\n

Spirit Airlines <\/b>(SAVE) shares are surging 26.5% ahead of the open after hiking its Q4 forecast.\u00a0<\/span><\/p>\n

The discount airline said in a filing it expects quarterly revenue of about $1.3 billion, at the high end of its previously forecast range.\u00a0<\/span><\/p>\n

Spirit estimates adjusted negative margins of 12% to 13%, better than the previous outlook for as much as a 19% negative margin.\u00a0<\/span><\/p>\n

After the company\u2019s merger with <\/span>JetBlue Airways <\/b>(JBLU) was blocked earlier this week, Spirit said it is now weighing options to refinance more than $1 billion in debt that matures in 2025.\u00a0<\/span><\/p>\n

The airline said it had $1.3 billion of liquidity at the end of 2023.\u00a0<\/span><\/p>\n

Spirit will announce Q4 results on February 8.\u00a0<\/span><\/p>\n

In Case You Missed It<\/span><\/h2>\n
    \n
  • Atlanta Fed President Raphael Bostic said Thursday he expects rate cuts to begin in the third quarter. But he also left the door open for a cut as early as July if the data supports such a move. Bostic said, \u201cIf we continue to see a further accumulation of downside surprises in the data, it\u2019s possible for me to get comfortable enough to advocate normalization sooner than the third quarter.\u201d He is a voting member of the FOMC this year. Traders are still pricing in the first rate cut as early as March.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    DJIA Futures: +194 (+0.5%) SPX Futures: +22 (+0.4%) NASDAQ Futures: +111 (+0.7%) Good morning friends! Futures are up with the S&P 500 marching toward a fresh record high. Let\u2019s get right to it! Wayfair Rallies On Job Cut Announcement Wayfair (W) shares are rallying 16.2% ahead of the open after announcing it is laying off 13% of its global workforce.\u00a0 The digital home goods retailer said it plans to cut around 1,650 employees.\u00a0 The company said this is part of its efforts to reduce costs after going \u201coverboard\u201d with corporate hiring during the pandemic.\u00a0 The cuts include 19% of its corporate team, focused on those in management and leadership positions.\u00a0 The restructuring is expected to save Wayfair about $280 million.\u00a0 Ford Announces Production Adjustments\u00a0 Ford Motor (F) shares are flat in premarket trade after announcing production changes this morning.\u00a0 The automaker said it will cut production of its all-electric F-150 Lightning pickup truck and increase production of the Bronco SUV and Ranger pickup truck.\u00a0 Ford said the changes are meant to match production with customer demand.\u00a0 The company will reduce production of the Lightning pickup at its Rouge Electric Vehicle Center in Michigan to one production shift from two starting April 1.\u00a0 The move will impact roughly 1,400 employees but Ford did not detail how it will impact production numbers.\u00a0 Nearly half of those impacted employees will transfer to nearby plants, including the Michigan Assembly Plant that produces the Bronco and Ranger.\u00a0 That plant will add a third shift in the summer to increase production of those two vehicles, adding 900 jobs to the plant.\u00a0 Other impacted workers will participate in a \u201cSpecial Retirement Incentive Program\u201d agreed to in the new UAW contract. Spirit Surges After Hiking Q4 Forecast Spirit Airlines (SAVE) shares are surging 26.5% ahead of the open after hiking its Q4 forecast.\u00a0 The discount airline said in a filing it expects quarterly revenue of about $1.3 billion, at the high end of its previously forecast range.\u00a0 Spirit estimates adjusted negative margins of 12% to 13%, better than the previous outlook for as much as a 19% negative margin.\u00a0 After the company\u2019s merger with JetBlue Airways (JBLU) was blocked earlier this week, Spirit said it is now weighing options to refinance more than $1 billion in debt that matures in 2025.\u00a0 The airline said it had $1.3 billion of liquidity at the end of 2023.\u00a0 Spirit will announce Q4 results on February 8.\u00a0 In Case You Missed It Atlanta Fed President Raphael Bostic said Thursday he expects rate cuts to begin in the third quarter. But he also left the door open for a cut as early as July if the data supports such a move. Bostic said, \u201cIf we continue to see a further accumulation of downside surprises in the data, it\u2019s possible for me to get comfortable enough to advocate normalization sooner than the third quarter.\u201d He is a voting member of the FOMC this year. Traders are still pricing in the first rate cut as early as March.<\/p>\n","protected":false},"author":41,"featured_media":73406,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-73392","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\/73392","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=73392"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/73392\/revisions"}],"predecessor-version":[{"id":73408,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/73392\/revisions\/73408"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/73406"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=73392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=73392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=73392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}