{"id":73832,"date":"2024-02-28T09:11:49","date_gmt":"2024-02-28T14:11:49","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=73832"},"modified":"2024-02-28T09:11:49","modified_gmt":"2024-02-28T14:11:49","slug":"coffee-with-greta-waiting-game-3","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2024\/02\/28\/coffee-with-greta-waiting-game-3\/","title":{"rendered":"Coffee With Greta: Waiting Game"},"content":{"rendered":"

DJIA Futures: <\/b>-110 (-0.3%)<\/span><\/p>\n

SPX Futures: <\/b>-15 (-0.3%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-83 (-0.5%)<\/span><\/p>\n

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

Futures are falling as traders await new inflation data on Thursday.<\/span><\/p>\n

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

Q4 GDP Revised Lower<\/span><\/h2>\n

The U.S. economy expanded less than originally estimated in the fourth quarter.\u00a0<\/span><\/p>\n

The Commerce Department\u2019s first revision shows GDP expanded at a 3.2% annual pace at the end of 2023 vs the first estimate of 3.3%.\u00a0<\/span><\/p>\n

Economists were expecting GDP to be unchanged.<\/span><\/p>\n

Consumer spending was revised higher to 3.0% growth from 2.8%.\u00a0<\/span><\/p>\n

But business investment was weaker than originally reported.\u00a0<\/span><\/p>\n

Total spending rose 0.9% vs the 2.1% initial estimate.\u00a0<\/span><\/p>\n

Beyond Meat Soars On Revenue Beat<\/span><\/h2>\n

Beyond Meat <\/b>(BYND) shares are surging 63.6% ahead of the open after beating Q4 revenue expectations and detailing plans to cut costs this year.\u00a0<\/span><\/p>\n

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

    \n
  • Loss per share: $0.92 vs $0.88 expected<\/span><\/li>\n
  • Revenue: $73.7 million vs $66.7 million expected<\/span><\/li>\n<\/ul>\n

    Revenue dropped 7.8% year over year while sales volume jumped 8%.\u00a0<\/span><\/p>\n

    The CEO said Beyond Meat would \u201csteeply reduce\u201d operating expenses and cash use in 2024.\u00a0<\/span><\/p>\n

    The company forecast full-year net revenue between $315 million and $345 million vs $343.8 million expected.<\/span><\/p>\n

    For the first quarter, Beyond expects revenue between $70 million and $75 million.\u00a0<\/span><\/p>\n

    TJX Reports Strong Holiday Quarter<\/span><\/h2>\n

    TJX Companies <\/b>(TJX) shares are up 0.5% in premarket trade after beating Q4 expectations on the top and bottom line. <\/span>
    \n<\/span>
    \n<\/span>Here\u2019s how the retailer\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

      \n
    • EPS: $1.22 vs $1.12 expected<\/span><\/li>\n
    • Revenue: $16.41 billion vs $16.21 billion expected<\/span><\/li>\n<\/ul>\n

      Sales jumped 13% year over year during the key holiday quarter.\u00a0<\/span><\/p>\n

      TJX forecast Q1 EPS between $0.84 and $0.86 vs $0.82 to $0.93 expected.\u00a0<\/span><\/p>\n

      For the full year, the company expects EPS of $3.94 to $4.02 vs $3.88 to $4.40 expected.\u00a0<\/span><\/p>\n

      Rates Drag Down Mortgage Demand<\/span><\/h2>\n

      Mortgage demand tumbled last week as rates remained above 7%.\u00a0<\/span><\/p>\n

      The Mortgage Bankers Association reported total application volume dropped 5.6% from the previous week.\u00a0<\/span><\/p>\n

      Purchase applications fell 5% weekly and 12% year over year.\u00a0<\/span><\/p>\n

      Refinance applications dropped 7% weekly and 1% annually.\u00a0<\/span><\/p>\n

      The drop came as the average 30-year fixed contract rate decreased to 7.04% from 7.06%, up about 0.25% compared to a year ago.\u00a0<\/span><\/p>\n

      Rates have pushed further above 7% this week with Mortgage News Daily showing the average 30-year fixed at 7.16% as of Tuesday.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

      DJIA Futures: -110 (-0.3%) SPX Futures: -15 (-0.3%) NASDAQ Futures: -83 (-0.5%) Good morning friends! Futures are falling as traders await new inflation data on Thursday. Let\u2019s get right to it! Q4 GDP Revised Lower The U.S. economy expanded less than originally estimated in the fourth quarter.\u00a0 The Commerce Department\u2019s first revision shows GDP expanded at a 3.2% annual pace at the end of 2023 vs the first estimate of 3.3%.\u00a0 Economists were expecting GDP to be unchanged. Consumer spending was revised higher to 3.0% growth from 2.8%.\u00a0 But business investment was weaker than originally reported.\u00a0 Total spending rose 0.9% vs the 2.1% initial estimate.\u00a0 Beyond Meat Soars On Revenue Beat Beyond Meat (BYND) shares are surging 63.6% ahead of the open after beating Q4 revenue expectations and detailing plans to cut costs this year.\u00a0 Here\u2019s how the faux meat company\u2019s results compared to analysts\u2019 estimates:\u00a0 Loss per share: $0.92 vs $0.88 expected Revenue: $73.7 million vs $66.7 million expected Revenue dropped 7.8% year over year while sales volume jumped 8%.\u00a0 The CEO said Beyond Meat would \u201csteeply reduce\u201d operating expenses and cash use in 2024.\u00a0 The company forecast full-year net revenue between $315 million and $345 million vs $343.8 million expected. For the first quarter, Beyond expects revenue between $70 million and $75 million.\u00a0 TJX Reports Strong Holiday Quarter TJX Companies (TJX) shares are up 0.5% in premarket trade after beating Q4 expectations on the top and bottom line. Here\u2019s how the retailer\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $1.22 vs $1.12 expected Revenue: $16.41 billion vs $16.21 billion expected Sales jumped 13% year over year during the key holiday quarter.\u00a0 TJX forecast Q1 EPS between $0.84 and $0.86 vs $0.82 to $0.93 expected.\u00a0 For the full year, the company expects EPS of $3.94 to $4.02 vs $3.88 to $4.40 expected.\u00a0 Rates Drag Down Mortgage Demand Mortgage demand tumbled last week as rates remained above 7%.\u00a0 The Mortgage Bankers Association reported total application volume dropped 5.6% from the previous week.\u00a0 Purchase applications fell 5% weekly and 12% year over year.\u00a0 Refinance applications dropped 7% weekly and 1% annually.\u00a0 The drop came as the average 30-year fixed contract rate decreased to 7.04% from 7.06%, up about 0.25% compared to a year ago.\u00a0 Rates have pushed further above 7% this week with Mortgage News Daily showing the average 30-year fixed at 7.16% as of Tuesday.<\/p>\n","protected":false},"author":41,"featured_media":73835,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-73832","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\/73832","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=73832"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/73832\/revisions"}],"predecessor-version":[{"id":73838,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/73832\/revisions\/73838"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/73835"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=73832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=73832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=73832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}