Jessie Casson
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Airbnb (ABNB) Q3 earnings on deck: Concentrate on bookings amid sluggish U.S. demand. (00:23) Election buzz: Tesla (TSLA) soars on expectations of inexperienced lights for autonomous driving approvals. (02:02) Costco’s (COST) October web gross sales climb 7.2%. (03:10)
That is an abridged transcript of the podcast.
Airbnb (NASDAQ:ABNB) is ready to announce third quarter earnings in the present day after market shut. Buyers will control bookings amid the corporate’s warning of a slowing demand in america.
Wall Avenue expects San Francisco-based Airbnb to put up quarterly EPS of $2.15, whereas income is anticipated to rise practically 10% to $3.72B.
Airbnb has been seeing delicate demand for home journey within the U.S. for the reason that begin of the 12 months, as persons are cautious about spending cash on holidays in a delicate financial surroundings.
The corporate, in August, issued a weak outlook for Q3 and stated it’s seeing some indicators of slowing demand from U.S. visitors and shorter reserving lead instances globally.
Reserving lead time is the variety of days between when a visitor makes a reservation and the date they examine in.
It is going to be fascinating to notice what the corporate sees for the upcoming vacation season. Airbnb just lately highlighted the highest searched locations within the U.S. for household journey over the week of Thanksgiving. Tennessee and Florida have been the highest two locations.
Looking for Alpha analyst Luca Socci referred to as Airbnb’s Q3 earnings “a bit harmful”, including {that a} “small downtick in its foremost – and wholesome – financials and KPIs may ship the inventory again to $110 or decrease.”
In the meantime, Airbnb is constructive in regards to the power of its enterprise in Latin America and Asia Pacific. The corporate, in September, disclosed that it has reached 2 billion visitors.
Wall Avenue, Looking for Alpha analyst and Looking for Alpha’s Quant Rankings are cautious and rated the corporate as a Maintain.
Tesla (NASDAQ:TSLA) closed the Wednesday session with a acquire of 14.7% on quantity of over 148 million shares. The EV inventory carved out a brand new 52-week excessive of $289.59 earlier within the session and is threatening to leap onto the one-trillion greenback market cap record that solely contains 9 shares within the U.S.
Deepwater Asset Administration analyst Gene Munster stated the rally was tied partly to emotion and investor confidence that Elon Musk’s large wager on autonomous driving may repay after he was referred to as a “tremendous genius” by Donald Trump in his victory speech early on Wednesday.
Munster stated the bullish view on the affect of a Trump Presidency is that the federal authorities could transfer extra rapidly to approve Tesla’s autonomous driving plans. “That is vital given the regulator facet of autonomy is tougher to maneuver ahead than the tech facet,” he famous. Crunching the numbers on an accelerated robotaxi launch, Munster stated if Tesla (TSLA) positive aspects 50% share of the trip hailing market within the U.S. by 2030, that it may add 20% to Tesla’s (TSLA) working revenue in 2030 or about $5 billion.
Costco (NASDAQ:COST) on Wednesday reported a 7.2% rise in month-to-month web gross sales, which got here in at $20.03B for October. This in comparison with $18.68B in the identical month final 12 months.
Whole firm comparable gross sales for October have been 5.1%. U.S. comparable gross sales have been 4.1%.
Comparable gross sales excluding gasoline costs and foreign exchange affect for October have been 6.5%. U.S. comparable gross sales excluding gadgets have been 5.8%.
“October outcomes have been negatively affected by a pull ahead in gross sales from the irregular shopper exercise related to the hurricanes and port strikes in September. The estimated affect on October’s complete and comparable gross sales was a bit multiple p.c within the U.S. and barely lower than one p.c worldwide,” the corporate stated in a press release.
For the primary 9 weeks of fiscal 2025, web gross sales got here in at $44.65B, up 8% from $41.33B final 12 months.
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Fed’s confidence in flagging fee cuts ‘may wane’ as Trump’s financial affect unfolds
Trump win brings ‘breath of contemporary air’ to grease and fuel trade, Power Switch CEO says
Catalyst watch:
Notable investor occasions embody CSX Company’s Investor Day occasion and Veeva Methods’ (VEEV) Digital Investor Day.
Lucid Group (LCID) will open up buyer orders for the Lucid Gravity. Orders will initially be taken for the Grand Touring trim, priced from $94,900. Present Lucid house owners shall be given precedence for deliveries.
Tapestry (TPR) will maintain its earnings convention name at 8am. The administration replace could have added significance following the current choice from a decide to dam the merger with Capri (CPRI).
NXP Semiconductors N.V. (NXPI) will host an in-person Investor Day occasion for buy-side institutional buyers and sell-side fairness analysts. The occasion will embody displays and Q&A classes with the corporate’s senior management workforce.
Now let’s check out the markets as of 6 am. Forward of the opening bell in the present day, Dow, S&P and Nasdaq futures are within the inexperienced. Crude oil is down 0.9% at $71/barrel. Bitcoin is up 1.4% at $74,000.
On the earth markets, the FTSE 100 is flat and the DAX is up 1.1%.
The most important movers for the day premarket: Qualcomm’s (QCOM) is up 8% after beating the Q3 consensus with an 18% improve in income Y/Y.
On in the present day’s financial calendar:
10:30 am EIA Pure Fuel Report
2:00 pm FOMC Announcement
2:30 pm Chairman Press Convention
Because of the FOMC announcement and chairman press convention, Wall Avenue Lunch with Kim Khan shall be printed a bit later to accommodate information from the press convention.
