Futures are slightly up this morning after closing lower yesterday. Earnings are a mixed bag and so far 42 companies in the S&P 500 have reported negative guidance, historically that's a very high number. Bitcoin (BTC) is sitting at $22.9K
Yum Brands (YUM) the parent company of Taco Bell and Pizza Hut reported a phenomenal quarter, with a profit and sales beat and an increase of 11% for same-store sales. These are very good numbers considering Chipotle's (CMG) same-store sales have tanked. Yum CEO David Gibbs says it's all about better prices.
Google (GOOGL) shares tanked 8% after the company introduced its new AI called Bard. The bot actually answered a question incorrectly and embarrassed the company as they are wanting to prove they are the best in AI.
Earnings releases today will include Pepsi Co. (PEP), AbbVie (ABBV), Canopy Growth (CGC), Kellogg (K), and Phillip Morris (PM) among others.
Stocks to Watch
Disney (DIS) is cutting 7000 jobs in an effort to cut $5 billion in costs. Analysts and Investors are diggin' it and the stock jumped 8% after the announcement and received a ton of price target increases and upgrades. The big layoff has come a far way from Silicon Valley, whos next?
Carrier Global (CARR) receives a lonely target raise as summer is coming. The company has been doing great since it was spun off from United Technologies.
Robin Hood (HOOD) receives a target raise as they announce a 55 million share buyback. The company is up 4% after reporting a miss in revenue, a loss of $160 Million but improvements in operating expenses and average revenue per user. Better than expected.
Happy Investing,
The Punkrock Capitalist
Comments