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Earnings Season In Full Swing

Published 31/01/2023, 16:01
Earnings Season In Full Swing
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ChatGPT creator OpenAI has quietly hired hundreds of international contractors to train its AI tech. Paving the way to replace some software engineers.

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Prices as of 4 pm EST, 1/30/23; % YD

MARKET UPDATE

Last trading day of January

Tomorrow: Fed and OPEC+

Crude 77.40 -0.6%

China

  • PMI data better than consensus

    • Manufacturing in-line at 50.1

    • Services 54.4 vs. consensus 52

    • Internal demand strong and external demand weak

  • Biden considering cutting off Huawei from its American suppliers

    • Intel and Qualcomm

    • Since the Trump days, sales have been limited needing government approval

    • Biden would fully cut off Huawei

Exxon (NYSE: XOM)

  • $56 billion profit in 2022

  • Quarter: earnings beat, $3.40 vs. consensus $3.30

  • Missed on operating metrics

  • Adjusted Cash Flow $17.8 vs consensus $18.3

Workday (NASDAQ: WDAY)

  • Cutting 3% of workforce

Hootsuite (private)

  • Published Digital 2023 Global Overview Report

Meta (NASDAQ: META) owns 4 of the top 10

  • Meta cuts pricing of the Quest Pro from $1,500 to $1,100

  • Remember, Apple’s product will be priced at $3,000

Earnings

  • GM (NYSE: GM) +4% EPS $2.12 vs street $1.69,

  • NXP Semi (NASDAQ: NXPI) -1% weak Q1 outlook

  • Samsung -4% no capex cuts in memory

  • Whirlpool (NYSE: WHR) +1% EPS guide $16-18, street $16.33

  • Pfizer (NYSE: PFE) -3% slight top-line miss, guide light

  • McDonald’s (NYSE: MCD) -2% beat boosted by higher menu prices

  • UPS (NYSE: UPS) +2% quarter and guide in line, raising dividend

  • Caterpillar (NYSE: CAT) -2% EPS touch light due to FX, backlog strong, stock near all-time highs

  • UBS (NYSE: UBS) -2%, investment banking weak

  • Moody’s (NYSE: MCO) -1% guide $9.00-$9.50 vs street $9.28

  • Spotify (NYSE: SPOT) +9% subs 250 million vs. street 202,000, Ad supported revs +14%

  • Pentair (NYSE: PNR) +1% modest beat, guide above street

CRYPTO UPDATE Ordinals protocol

  • Stores NFT on Bitcoin (CRYPTO: BTC) blockchain

  • Bitcoin maxis are not happy

    • Think should only be used for financial purposes

    • Not monkey jpegs

  • If protocol takes off, could create congestion on blockchain

    • Increased transaction fees per block

Weekly digital asset fund flows

  • +$117 million inflows

  • Largest since July 2022

  • Almost all Bitcoin ($116 million)

  • AUM ($28 billion) 43% over November lows

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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