T3 Live

Coffee With Greta: Inflation Still Rising


DJIA Futures: +67 (+0.2%)

SPX Futures: +24 (+0.5%)

NASDAQ Futures: +116 (+0.6%)

Good morning friends!

Futures are higher after the release of new inflation data.

Let’s get right to it!

February CPI

Inflation pressures were slightly hotter than expected in February, keeping the Fed on track to continue waiting for rate cuts. 

The Bureau of Labor Statistics’ consumer price index rose 0.4% monthly and 3.2% year over year last month. 

That was in line with monthly estimates and hotter than 3.1% annually expected. 

The core CPI rose 0.4% monthly and 3.8% annually vs 0.3% monthly and 3.7% annually expected. 

That core rate remains well above the Fed’s 2% target. 

The headline number was boosted by a 2.3% increase in energy prices, while food prices were flat, and shelter costs rose 0.4%. 

The energy and shelter increases accounted for more than 60% of the total gain. 

Oracle Jumps On Earnings Beat

Oracle (ORCL) shares are up 11.5% ahead of the open after beating fiscal Q3 earnings expectations. 

Here’s how the cloud company’s results compared to analysts’ estimates: 

  • Adjusted EPS: $1.41 vs $1.38 expected
  • Revenue: $13.28 billion vs $13.3 billion expected

Although revenue was a bit lighter than estimated, it was still up 7% year over year.

Net income climbed 27% from a year ago.

Sales in Oracle’s cloud services and license support segment rose 12% to $9.96 billion vs $9.94 billion expected. 

But cloud license and on-premise sales fell 3% to $1.26 billion, hardware revenue fell 7% to $754 million, and sales in the services division slid 5% to $1.31 billion.

Oracle forecast fiscal Q4 EPS between $1.62 and $1.66 vs $1.64 expected. 

The company expects revenue growth between 4% and 6% year over year.

Kohl’s Slips On Mixed Results

Kohl’s (KSS) shares are falling 3.1% in premarket trade after reporting mixed results for the fiscal fourth quarter. 

Here’s how the retailer’s results compared to analysts’ estimates: 

  • EPS: $1.67 vs $1.28 expected
  • Revenue: $5.7 billion vs $5.8 billion expected

Same-store sales fell 4.3% year over year, more than expected. 

Kohl’s said it expects full-year net sales to range between down 1% and up 1% with same-store sales ranging between flat and up 2%. 

The company forecast full-year EPS between $2.10 and $2.70 vs $2.62 expected. 

Southwest Cuts Outlook Due To Boeing Delays

Southwest Airlines (LUV) shares are down 8.5% ahead of the open after the company said it will have to cut its capacity plans and reevaluate financial forecasts for the year. 

The airline cited delivery delays from Boeing (BA), which is its sole supplier of planes. 

Boeing has informed Southwest’s leaders to expect 46 Boeing 737 Max 8 planes this year, down from 58 previously. 

Southwest had originally expected Boeing to deliver 79 Max planes, including some of the smaller Max 7. 

In a filing, the airline said it is “reevaluating all prior full year 2024 guidance, including the expectation for capital spending.”

Leave a Comment: