Afternoon Round-up - May 11, 2023

🔮 Welcome back to Finsights, fellow financial wizard. Let’s get you up to speed on the market with a flick of your finger! 🪄

• 💻 Tech's balancing market's seesaw

• 😏 The debt ceiling drama continues

• 💰 Earning season winds down

🤔 Stock Market Musings: While valuations are as high as avocado prices and the debt ceiling drama plays out like a bad reality show, the stock market is still doing its thing, with tech giants flexing harder than gym bros during 'new year, new me' season 💪. Despite the economic cool down, like winter in Westeros, the earnings and yields are showing up like unexpected summer sun ☀️. So, brace yourselves - earnings are coming, thanks to a cocktail of cost cutting, supply chains getting their groove back, cleaner inventories, reduced USD pressure, and China demand bouncing back. While we might not be popping champagne for valuations, they're not party poopers either, especially with eyes on the 2024 horizon.

🐻 Bearish Buzz: PACW's deposit outflows hit a cringe-inducing 10% in 48 hours, like losing followers after a bad tweet 📉. Disney's earnings report was less 'Frozen II' and more 'Mulan 2020' - underwhelming. The US market's reliance on mega-cap tech is like depending on coffee for breakfast, lunch, and dinner - unbalanced and unsustainable ☕️. With the debt ceiling drama reaching new heights, it's starting to feel like we're re-watching 2011's 'The Hangover Part II' - a less fun sequel.

🐂 Bullish Banter: Despite the noise, Disney and Dillard’s earnings showed sparks of resilience, like a student surviving on ramen and determination 💪. Jobless claims jumped, but that’s as normal as avocado on toast for pre-COVID times 🥑. China's economy, though on a rollercoaster, still has more ups than downs. And despite the drama, there's more chance of resolving the debt ceiling crisis than finding an affordable apartment in San Francisco - we're pretty confident it will happen.

Auto

🚸 BLBD (Blue Bird), known for making the yellow school buses that have become a symbol of American education, knocked it out of the park in their FQ2. They reported EPS at $0.27, which is a whopping $0.20 more than the Wall Street estimate of $0.07. Looks like school's in session for some serious financial growth! 📈

Tech

🗞️ BZFD (BuzzFeed), your go-to source for viral content and quizzes to find out which 'Friends' character you are, has set its sights high. They're talking about achieving an EBITDA in 2023 of $17-19 million, leaving the Street's consensus of $1.8 million way behind. That's some buzzworthy news! 🐝

☁️ EGHT (8x8), the company that keeps your remote meetings running smoothly, had a positive FQ4. They reported an EPS of $0.11, modestly higher than the Street's prediction of $0.09. Looks like 8x8 is keeping its financial calls clear and steady! 🎯

🌐 GEN (Gen Digital), the tech firm that's all about the future, exceeded expectations in FQ4. They posted an EPS of $0.46, slightly ahead of the Street's forecast of $0.44. Gen Digital seems to be coding its way to success! 💻

📸 GETY (Getty Images), the platform that's likely provided the images for your last PowerPoint presentation, reported a modest Q1 upside on revenue. They brought in $228.3 million, a neat $2.3 million more than the Street's prediction of $226 million. Getty keeps developing the right financial picture! 🖼️

📰 NWS (News Corp), the media giant that likely influences your daily news intake, outperformed in FQ3. They posted an EPS of $0.09, which is over double the Street's expectation of $0.04. News Corp keeps making headlines! 🚀

🔧 SANM (Sanmina), the electronics manufacturer likely involved in making some of your favorite gadgets, reported a solid FQ2 upside. Their EPS came in at $1.59, beating the Street's estimate of $1.45. Sanmina keeps the financial circuits buzzing! 💡

🌯 That's a wrap! Enjoy your day. 🌯

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Fin-specto Revelio!