Are We There Yet? 🎢

📈 Market Levels: US equity futures indices are partying today, with S&P, Dow, and Nasdaq all showing gains. AAPL is also having a good time, up 2.2% in pre-market trading, while PACW and WAL join the fun with a 10-11% rebound. Eurozone indices are also in the green, with some sectors performing better than others.

🗞️ What's Happening: It's been a slow news morning, but stocks are trying to bounce back like a determined trampoline enthusiast. Earnings reports have been a mixed bag, but Apple shone bright with better-than-feared results and an increased capital return. Other companies like BILL, COIN, and SQ also brought some cheer. Keep an eye out for the US jobs report, the Manheim used car index, and earnings from WBD.

🐂 Our Take on Stocks: Bears have been ruling the roost lately, and they had their reasons (regional bank woes, debt ceiling risks, China's recovery doubts, etc.). But despite the week's gloomy vibes, the overall picture still looks bullish, like seeing a rainbow after a week of rain.

🎯 Earnings Continued!

🚗 MGA (Magna), an automotive supplier, reported a strong Q1 with earnings per share (EPS) of $1.11 (vs. the expected $0.86) and revenue of $10.67B (vs. the expected $9.89B). They're raising their pre-tax profit margin guidance and full-year revenue outlook, driving to success. 📈

💄 COTY (Coty), a beauty products company, is considering listing on the Paris Stock Exchange. With a strong French heritage, they're looking to make a fashionable entrance in Europe. 🇫🇷🛍️

💰 FSK (FS KKR Capital), a business development company, reported Q1 adjusted net investment income of $0.78 per share (ahead of the expected $0.74) and a net asset value (NAV) increase. They declared a Q2 2023 distribution of $0.70 per share and special distributions totaling $0.15 per share. 📊🌐

🏦 SCHW (Schwab), a brokerage firm, signed a cash sweep deal with TD Bank, aiming for more stability in their cash on hand and boosting return on equity. Their cash on hand shows a favorable trajectory. 🤝💹

🩺 CI (Cigna), a health insurance provider, posted a solid Q1 with EPS of $5.41 (vs. the expected $5.23) and higher revenue of $46.47B (vs. the expected $45.55B). They also reported a better medical care ratio (MCR) and increased medical customers. They're raising their full-year guidance, making healthy progress. 🚀💊

🚜 CNHI (CNH Industrial), an agricultural and construction equipment manufacturer, had a strong Q1, with earnings per share at 35 cents and revenue of $4.776 billion, beating Street expectations. They're raising their 2023 sales guidance from +6-10% to +8-11%. It's harvest time for CNHI! 🌾📈

🏗️ FLR (Fluor), an engineering and construction company, missed on earnings per share at 28 cents (vs. the Street's 37 cents), but revenue and bookings were positive. They're keeping their guidance for the year unchanged. A bit of a mixed bag for Fluor. 🤷🔨

🧪 HUN (Huntsman), a chemical manufacturing company, had a solid Q1, with earnings per share of 20 cents and EBITDA of $136 million, beating Street expectations. However, revenue of $1.606 billion fell a bit short. As construction demand and inventory levels normalize, they're ready for a business recovery. Onwards and upwards! 📊🚀

🔧 JCI (Johnson Controls), a multinational conglomerate producing HVAC, fire, and security equipment, saw upside in their results, with FQ2/Mar EPS at 75 cents and organic revenue growth of 13%. They're raising their full-year EPS guidance to $3.50-$3.60. Keep up the momentum, JCI! 🌡️🎉

🎬 CNK (Cinemark) reported strong Q1 earnings with revenue of $610.7MM (vs. expected $563MM) and EBITDA of $86.2MM (vs. expected $56.2MM). They're encouraged by the ongoing recovery in the movie industry and positive trends in movie-going. 🍿📈

📺 WBD (Warner Bros. Discovery) reported Q1 revenue in line with expectations and a 12% YoY increase in total EBITDA. They finished the quarter with 97.6M global direct-to-consumer (DTC) subscribers and achieved DTC profitability, expecting their US DTC business to be profitable for 2023. However, advertising revenue faced headwinds, and they still face challenges with cash flow and their balance sheet. 🎥📊

📉 EPAM (EPAM Systems), a software engineering and IT consulting company, had a decent Q1 with earnings per share of $2.47 and revenue of $1.211 billion, outperforming Street expectations. But wait! They trimmed their annual earnings forecast to $10.70, citing uneven demand improvements. Mixed feelings, anyone? 😅😬

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