Return-Path: Delivered-To: info@sterlingcal.com Received: from reseller401.webserversystems.com by reseller401.webserversystems.com with LMTP id 1DNIMAkvPWTflg0AchKAPA (envelope-from ) for ; Mon, 17 Apr 2023 06:35:37 -0500 Return-path: Envelope-to: info@sterlingcal.com Delivery-date: Mon, 17 Apr 2023 06:35:37 -0500 Received: from mail-wr1-f42.google.com ([209.85.221.42]:54430) by reseller401.webserversystems.com with esmtps (TLS1.2) tls TLS_ECDHE_RSA_WITH_AES_128_GCM_SHA256 (Exim 4.94.2) (envelope-from ) id 1poN8y-003jeG-VI for info@sterlingcal.com; Mon, 17 Apr 2023 06:35:37 -0500 Received: by mail-wr1-f42.google.com with SMTP id ffacd0b85a97d-2f4c431f69cso858001f8f.0 for ; Mon, 17 Apr 2023 04:35:31 -0700 (PDT) X-Google-DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=1e100.net; s=20221208; t=1681731325; x=1684323325; h=list-unsubscribe:to:subject:message-id:mime-version:from:date :dkim-signature:dkim-signature:delivered-to:x-gm-message-state:from :to:cc:subject:date:message-id:reply-to; bh=dDaSgisuWivkA2Ueqe0NLRGO6vLscS0uZ1tJnCSSKew=; b=PYZkJ3hIv8ZpOcU+lb3QVsPvvCpV120PbUmsUDyhPh5EOwwbzJdCUSVcrXgevuKEsS fcNEXKWFTjGcICO4G1EiI36GIAL3c4mKokLN3yE/RC7O1GXxwm/8HTFj195/kyP4keGf TdwDs1CTf7bTgCkgt5QWFmCOPI6kLTfm3JuI1Q6gtN4gXZcvqBEozzSZ72TIxceWhuyH uN/N9k8+7vl2noNeqPnnRFOPnq6cEuqP1oNlY662LOTsHAuRNoZRUh3NPZmplOYDqN1e eP0ysgZ+mUSnW/TNzqqm1jCTkY3NwbaD3Pl+znrqJeVt8njtyBoMB+I3h2UoysLZj1a3 CGcA== X-Gm-Message-State: AAQBX9fs6cvL/dQbi1+B8+gLklby+/Ti8x9zqIEBEEO7q1F6Bs9JaMud 7ppeQ3jqLE0A8ffFgmqfN8ZLWRe0lsh5cn11Vj5b3lscoe69Dhysgg== X-Received: by 2002:a5d:63c3:0:b0:2f9:61b5:779e with SMTP id c3-20020a5d63c3000000b002f961b5779emr817894wrw.8.1681731324586; Mon, 17 Apr 2023 04:35:24 -0700 (PDT) X-Forwarded-To: info@sterlingcal.com X-Forwarded-For: sterlingwhg@gmail.com info@sterlingcal.com Delivered-To: sterlingwhg@gmail.com Received: by 2002:a5d:6049:0:0:0:0:0 with SMTP id j9csp403720wrt; Mon, 17 Apr 2023 04:35:22 -0700 (PDT) X-Google-Smtp-Source: AKy350bqRrQjcwP6mVDM3QkAkmubrKEVZgySpKRW5YdlCJwwfiPeA/kolfmryRTMWLlhpOdG833E X-Received: by 2002:a81:de4d:0:b0:552:f581:e5c3 with SMTP id o13-20020a81de4d000000b00552f581e5c3mr836333ywl.49.1681731322461; Mon, 17 Apr 2023 04:35:22 -0700 (PDT) ARC-Seal: i=1; a=rsa-sha256; t=1681731322; cv=none; d=google.com; s=arc-20160816; b=CQ4LqCfWFhmNyYQFPc7Qy5fl2csnD6KZc2giNRsBzxL5/NkmuFsYd1LjvfAkyPqSyF pK5dAfo6W0nsOVFODjOkds6r7N1CXrGOMqHPetlrWd2VGAr6zVaz+StNUmqKV9QKXKpU qU6ZG8wx5yluYDEHpul7qCzyx05OBwGg/IUMGWFilvn1AWCa40oU3G7YV1EMh/NynzDM T/InXTjEaqQd9H6citgvVqW4oAPC1vA8nz2VFKjjWqRT2oskDG4Mv381gcKeqsQbzy6V GesqaT4nGY2kvmFcGrqBYrc7W8O/QXk6a6tRSeAxfhXW3MZe6ZFUodAP+O6OSSwOe8RT ujyw== ARC-Message-Signature: i=1; a=rsa-sha256; c=relaxed/relaxed; d=google.com; s=arc-20160816; h=list-unsubscribe:to:subject:message-id:mime-version:from:date :dkim-signature:dkim-signature; bh=dDaSgisuWivkA2Ueqe0NLRGO6vLscS0uZ1tJnCSSKew=; b=yOLoicCakbgtuIcpA+OaTObAl8Na8XvPKjf9vP+8S57afOMV0VwfKcL9ytHKVe5c2S ayQEZ34TP/g3OOOHX7FJv3xTKu6iBkSCSQOVC9qBnCg0N7tQMPBtLx2nw4mQTb0ILfOc fBZftcqyoa3jcRD5Wh/gDhuVlDhz5VF66wQBxZNiiq0NuneBzsBLAwL2u7k5/8P2FA1w Y4qF5NQQDsaceoy9t1Nilfk9BeqgwvLorevkvGUrMdQ0zDFApmrWSKIG5Z+fecoRkZDl yNhpHKT1+ZwuIDvxOaHnQl4f7X96tYC4FWm3NMD+1xayzsINYBwMznzKfek7UHa6jaHA vMfg== ARC-Authentication-Results: i=1; mx.google.com; dkim=pass header.i=@robinhood.com header.s=s1 header.b=ZJgEKOjQ; dkim=pass header.i=@sendgrid.info header.s=smtpapi header.b=uEPyrQn0; spf=pass (google.com: domain of bounces+6630771-530e-sterlingwhg=gmail.com@sg-email.robinhood.com designates 149.72.41.246 as permitted sender) smtp.mailfrom="bounces+6630771-530e-sterlingwhg=gmail.com@sg-email.robinhood.com"; dmarc=pass (p=QUARANTINE sp=QUARANTINE dis=NONE) header.from=robinhood.com Received: from o20.email.robinhood.com (o20.email.robinhood.com. [149.72.41.246]) by mx.google.com with ESMTPS id y185-20020a81a1c2000000b0054fbb5163b5si11480086ywg.280.2023.04.17.04.35.22 for (version=TLS1_3 cipher=TLS_AES_128_GCM_SHA256 bits=128/128); Mon, 17 Apr 2023 04:35:22 -0700 (PDT) Received-SPF: pass (google.com: domain of bounces+6630771-530e-sterlingwhg=gmail.com@sg-email.robinhood.com designates 149.72.41.246 as permitted sender) client-ip=149.72.41.246; Authentication-Results: mx.google.com; dkim=pass header.i=@robinhood.com header.s=s1 header.b=ZJgEKOjQ; dkim=pass header.i=@sendgrid.info header.s=smtpapi header.b=uEPyrQn0; spf=pass (google.com: domain of bounces+6630771-530e-sterlingwhg=gmail.com@sg-email.robinhood.com designates 149.72.41.246 as permitted sender) smtp.mailfrom="bounces+6630771-530e-sterlingwhg=gmail.com@sg-email.robinhood.com"; dmarc=pass (p=QUARANTINE sp=QUARANTINE dis=NONE) header.from=robinhood.com DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=robinhood.com; h=content-type:from:mime-version:subject:x-feedback-id:to: list-unsubscribe:cc:content-type:from:subject:to; s=s1; bh=dDaSgisuWivkA2Ueqe0NLRGO6vLscS0uZ1tJnCSSKew=; b=ZJgEKOjQkCNfBJydPCu6fj3uAhYeezMHMeGkfBDEnYGbZslvOi4QDw38SYDwuINIiGZo r48bXNUeswB+9GKBAw2hlyk6ZV/kggMj8NCDMS8PkUez2lTnhnfC94QVvoCFAMJVVqljR9 /z20hHeL7r6h6/1pSMa7tc+tD6gD0bDOlsTfyGMUo0eHRfUNqxZObv+ohl/gsCtsr+Cfar BT8eRGbEzzroqSUt9KMne6Vv0bA8n+f4EnX2ivEbkNVpFTyRwnP6BGSgxyo17F29bCq7a8 +vgWeTFclp9TScsaVVufAeiSFoweqnBVLuCf2qAW9RO1veBqADeNCKoL+SKyuvMw== DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=sendgrid.info; h=content-type:from:mime-version:subject:x-feedback-id:to: list-unsubscribe:cc:content-type:from:subject:to; s=smtpapi; bh=dDaSgisuWivkA2Ueqe0NLRGO6vLscS0uZ1tJnCSSKew=; b=uEPyrQn0O5DJgGvssB6rAL0op6DzDyOikqmJsmZlj/0CqLB6lYIbZ2B6HsGp1EsrMkJQ uF1L11vmbgPxhrL7Ub/fudQaUpJhCZlaq8bl8DIkAZ0VHkdNMbLuy84hQBm/g9nladHlD1 3EjfR1wtRT6ku4Nj//EDSd1WF6dyWk5YY= Received: by filterdrecv-668bd8bf64-txmhm with SMTP id filterdrecv-668bd8bf64-txmhm-1-643D2EF9-E1 2023-04-17 11:35:21.676571271 +0000 UTC m=+4708855.104700993 Received: from NjYzMDc3MQ (unknown) by geopod-ismtpd-7 (SG) with HTTP id Oj7RCJu2TuylgkKt175Bdw Mon, 17 Apr 2023 11:35:21.618 +0000 (UTC) Content-Type: multipart/alternative; boundary=b4772e15aa1c03ae35c20d216c7aca5686988dce49e525e2fdf59bf97afb Date: Mon, 17 Apr 2023 11:35:21 +0000 (UTC) From: Robinhood Snacks Mime-Version: 1.0 Message-ID: Subject: =?UTF-8?B?8J+Urg==?= Earnings-season forecast X-Feedback-ID: 6630771:SG X-SG-EID: =?us-ascii?Q?JD1WbddfoCN9JDT0g4N+Wc0+ThLKrMPOV3sdUVZ4xRe8fjGgw7P91rV+6xnLKL?= =?us-ascii?Q?MzcrxZPvF2Wm0UGkOpMK9GikrACaaG+wsCpcXRT?= =?us-ascii?Q?RtdOanRzEhP22GOPgei1qk9YakGBqfrXHkrrqvP?= =?us-ascii?Q?HL=2FzFjDwKaE2rR4oWKt9To2nT50CfAbfI+z95AB?= =?us-ascii?Q?uJUfkUqBZ0JHO2MsBlX164lQ0GMfmksCkhSlQ+w?= =?us-ascii?Q?U9WHCeB0hiaYwin6=2FeH6f0HQDpaqPacr2RG6+h?= X-SG-ID: =?us-ascii?Q?N2C25iY2uzGMFz6rgvQsb4OtG0=2F=2Fw6CLO=2Fyayqrytb1gYHzi4SBgiTrzL+9hhN?= =?us-ascii?Q?yIwHato8w1KNNh4S37DIb=2FOtEN8MqUJGgkd83tk?= =?us-ascii?Q?9rDiV45Ij2Ylbfa0OPZ6JJWnY2zZbRx1X1xHaam?= =?us-ascii?Q?wzAxb1=2FUG1TmvLL=2FugQMNN2vhOJHNHuWrBFtytn?= =?us-ascii?Q?bjISamVhif6oVatILeOg8xL3dgKTf+wIW53VlUp?= =?us-ascii?Q?7SSI0Jr8MFPY4JEOnaN5rrnTrPDopFLcZ8Nej4v?= =?us-ascii?Q?EUe5AUiomA0KgYBKF9XwvbO3UfXmYNsXFu5hSoo?= =?us-ascii?Q?x3aglgTchSjeZFZjrbQUBFs3VHCezNO3nCFjqTy?= =?us-ascii?Q?xJ+WzVUha8MCi3r174IjVqASrbPz1jZOeL5caPU?= =?us-ascii?Q?jfXsg8LHcETNY0gY3sBV9YHm8qxNLPjrHHDv3g=2F?= =?us-ascii?Q?=2FNWbyxz7mZZbER1VDdnqROYfjGCbdjqpMvXnoEf?= =?us-ascii?Q?cJAF8+JSsLh3tYgorA=3D=3D?= To: sterlingwhg@gmail.com X-Entity-ID: zye8UXqvUGcUF9ZcIbeLwg== List-Unsubscribe: =?us-ascii?Q?=3Cmailto=3Aunsubscribe=40sg-email=2Erobinhood=2Ecom=3Fsubject=3Dhttps=3A=2F=2Fsg=2E?= =?us-ascii?Q?robinhood=2Ecom=2Fwf=2Funsubscribe*q*upn=3DmEXt?= =?us-ascii?Q?VTh2BuIW7T5QWYgW7Yuh84onS7o4oGAxJrsr639?= =?us-ascii?Q?wxGzq5TjP3B1E-2BJAbKQ9kwFrhXE14MgHyrbhL?= =?us-ascii?Q?8rU0-2B3TbQp65y94APuC6C-2FQUS41Oai6ILPe?= =?us-ascii?Q?7u-2FCJpGRh2NRiWEmn-2FC6QHjYepkLUQBkLSP?= =?us-ascii?Q?7OiX8lmnnDAO74-2BI-2FWecxwVH7p2-2Bq4drC?= =?us-ascii?Q?P9Vd-2BUfqmHzEdmV1IWuA2yNBhoEkGaQ-2BtZv?= =?us-ascii?Q?zROWSj8sNuKarmlykR9CWkhyn-2BbAMEkFiNE3l?= =?us-ascii?Q?2KwZ1MP5cd9r5-2F9e1a6pcU5H2lnMXg8Fdkyc-?= =?us-ascii?Q?2BEvGCoAHbl95L7lQvvF9Ug61T0zBzXnPy-2Fst?= =?us-ascii?Q?R0sTan-2BelGs3cV4uNRQV62g-2FkASBEoJt4Ah?= =?us-ascii?Q?Ia-2FeMgJ1pUMNrlCi3OTxh6fLA0ktPwnjDSoy8?= =?us-ascii?Q?BRey7vsm6XGQPbl6Q71NHPJSIgjFBsJZYFvBUrB?= =?us-ascii?Q?i3fRexwK8w14FwKms1-2BvcGqyUKL29pTGooYpN?= =?us-ascii?Q?o-2FS1sJrZFWtDRikGg62De3tYPMWGylfFQ4N-2?= =?us-ascii?Q?FY3P1lKQluU6T60Nlf6Zhy5OFsS9ADHw8sIGlmj?= =?us-ascii?Q?iLIHDtFQurzJ5-2FYiDQfEuaKDJsYv9xWF0UMLw?= =?us-ascii?Q?gyY-2Fit6bq-2FsYEujsqlVxBDobSAHGvKQFHZ-?= =?us-ascii?Q?2FWUv9xL9R0xfRlwyOyIxAnvf9Ne1nQfEwCqf4z?= =?us-ascii?Q?w8UFcvVDSKB-2BNg8LxxfYmWkcs-3D=3E?= --b4772e15aa1c03ae35c20d216c7aca5686988dce49e525e2fdf59bf97afb Content-Transfer-Encoding: quoted-printable Content-Type: text/plain; charset=utf-8 Mime-Version: 1.0 <= head>
=E2=80=A6expectations are low for A= merica=E2=80=99s biggest companies
 
=
=

Busy week on Wall Street (Mario Tama/Getty Images)

 
La= st Week=E2=80=99s Market Moves
R= 02;
Dow Jones
33,886 (+1.20%)		= S&P 500
4,138 (+0.79%)= 		Nasdaq<= br>12,123 (+0.29%)Bitcoin
$30,474 (+8.67%)
Dow Jones
33,886 (+1.20%)		S&P 500
4,138 (+0= .79%)
Nasdaq
12,123 (+0.29%)		Bitcoin
$30,474 (+8.67%)
<= /table>
<= /table>
SZN
<= /table>

Earnings-season forecasts are dim for America= =E2=80=99s biggest companies as profits get pressured

=E2=80=99Tis the season=E2=80=A6 but it may not= be so jolly. Earnings season is upon us, and expectations aren=E2=80=99t h= igh for the first-quarter stocking. Quarterly profits from S&P 500 comp= anies are expected to have dropped 6.8% from last year =E2=80=94 that would= be the sharpest earnings decline since lockdown-era 2020 and the second st= raight quarter of falling profit. Meanwhile, analysts expect that sales inc= hed up a measly 1.8%. But the kickoff to earnings season pleasantly surpris= ed:

  • Bank buster: On Friday JPMorgan Chase an= d Citi reported stronger-than-expected #s, with JPM postin= g record revenue and a 50% profit surge on higher interest rates.
  • Stocking stuffer: Despite le= ss-than-stellar earnings expectations, the S&P 500 is up 8% for the yea= r, while the techy Nasdaq has gained 17%.

Growth at all= costs < profit at less cost=E2=80=A6 Soaring interest= rates and sticky inflation have eaten into profits and cooled demand. Cue:= companies are shifting away from growth-driven investments to focus on cos= t-cutting profit boosters. It=E2=80=99s =E2=80=9Cthe year of efficiency,=E2= =80=9D Meta CEO Zuck says. Corporate titans are tightening= their belts to prep for a downturn. Last week the Fed said it expected tha= t the banking-crisis fallout would tip the US into a recession this year.

  • Cold-brew cuts: In addition to sweeping layoffs, companies lik= e Meta, Goldman Sachs, and Salesforce hav= e cut cushy employee perks like barista-brewed coffee. Google is swapping pricey MacBooks for Chromebooks.
  • Robo-savings: Companies like Disney and Microsoft are backtracking on big bets like th= e metaverse. Instead, corporations are investing in things that could reduc= e costs long term (think: Walmart and Amazon leaning into warehouse automation).
THE TAKEAWAY

=E2=80=9CHow low will you go=E2=80=9D is the question=E2=80=A6 on= investors=E2=80=99 lips. They=E2=80=99ll be listening for guidance about h= ow much lower corporate profits could fall. If companies signal further dec= lines ahead, this year=E2=80=99s rally could reverse. But if cost-cutting m= easures start to show up on earnings reports as improving profits, markets = could be pleasantly surprised.

<= p style=3D"border-top:solid 1px #e3e9ed;font-size:1px;margin:0px auto;width= :100%;">

<= /tr>
<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">Events
<= /td>
<= /table>
= =
<= div style=3D"font-family:'Nib Pro', Arial;font-size:24px;font-weight:600;li= ne-height:32px;text-align:left;color:#000000;">

Coming up this week

Biscoff cookies en route to Cabo=E2=80= =A6 United Airlines and Alaska Air may have reason to join the spring-break party when they report this wee= k. While US airline fares are up 17% on the year, travel demand is still ta= king off. The TSA's expecting a record-breaking year for flights, and a= nalysts think this may be airlines' busiest spring ever. Last week Delta unloaded a quarterly loss, but projected strong growth a= nd profit ahead. It expects record advance summer bookings as consumers pri= oritize delayed YOLO experiences.

It=E2=80=99s fina= lly here=E2=80=A6 Tuesday is the deadline to file tax returns for = most Americans (many residents of CA, GA, and AL have until October). And i= t may be the last go-around for what you could call =E2=80=9CIRS 1.0.=E2=80= =9D Over the next two years, the IRS will use billions in federal funding t= o upgrade its =E2=80=9960s-era tech and hire 20K new employees. For you: fa= ster returns and shorter phone wait times. Next tax year, the IRS will requ= ire anyone earning $600+ on payment apps (for goods and services =E2=80=94 = not from splitting checks) like Venmo to report it.

<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">Zoom out
<= /table>
=
<= div style=3D"font-family:'Nib Pro', Arial;font-size:24px;font-weight:600;li= ne-height:32px;text-align:left;color:#000000;">

Stories we=E2=80=99re wat= ching

An apple a day=E2=80=A6 keeps the bills away. More Americans could see a boost in their credit = scores after credit agencies scrapped 70% of all medical debt in collection= s. Last year, Experian, TransUnion, and <= strong>Equifax removed already paid medical debt from millions of = credit reports. Last week they took it a step further by removing all u= npaid debt up to $500. Nearly a tenth of US adults owe at least $250 i= n medical debt, but many don=E2=80=99t notice until it dings their credit s= core. The move could provide relief at a time when US households carry reco= rd debt.

Still watching=E2=80=A6 Votes will be count= ed today to see if the Writers Guild of America will strike in the event th= at a new contract agreement isn=E2=80=99t reached with studios by May 1. If= the WGA strikes, we could see a repeat of the last screenwriting stoppage = in 2007, which lasted 100 days. On the table: shortened TV seasons, cancell= ations, and a bump in unscripted content (imagine: more =E2=80=9CLove Is Bl= ind=E2=80=9D). A strike would be a headache for streamers who are hungry fo= r the next =E2=80=9CSuccession.=E2=80=9D They=E2=80=99re expected to splurg= e $23.4B on scripted titles this year.

<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">ICYMI
= <= /table>

Last week's highlights<= /p>

What else we're Snackin'
  • RTO: N= iche consultants attempting to get WFH=E2=80=99ers back to the office witho= ut a morale plunge are imploring execs to ditch return-to-office mandates i= n favor of communal perks like yoga and lunch.
  • Emote: Lots of young Chinese men have grown emot= ionally attached to AI companions like Microsoft's spi= noff Xiaoice, which had 650M users in 2018. Robo-romances could give China = a leg up in the AI race.
  • Exhausted: The EPA=E2=80=99s new pollution-standards p= roposal that seeks to limit tailpipe emissions could speed up the EV transi= tion. It would require up to 67% of all new cars sold in the US to be elect= ric by 2032.
=
=
Want your Snacks daily?
The Da= ily Newsletter
Get fresh takes on financial news every week day. Try a sample:
=

=E2=9C=88=EF=B8=8F Delta=E2=80=99s delayed YO= LO =E2=80=A2 Apr 14, 2023
=F0=9F=8F=A6 The gre= at rate-hike divide =E2=80=A2 Apr 13, 2023
=F0=9F=92=BC ChatGPT clocks in =E2=80=A2 Apr 12, 2023

Subscribe to the Daily
=
<= /table>
Snack Fact Of the Day
In nearly half of US marri= ages, women earn about the same as their spouse =E2=80=94 or more

<= /table>
This Week
  • Monday: Earnings expected from Charles Schwab
  • Tuesday: Tax Day. Earnings expected= from United Airlines, Bank of America, <= strong>BNY Mellon, Johnson & Johnson, Goldman Sachs, and Lockheed Martin
  • Wednesday: Earnings expected fro= m Morgan Stanley, Ally Financial, Citizens Financial, and Abbott
  • Thursday: Earnings expected from AT&T, TSMC, American Express, Alaska Air, and Union Pacific
    • =
  • Friday: Earnings expect= ed from Procter & Gamble

Authors of this S= nacks own shares: of Amazon, Alaska Air, Google, Delta, Disney, Tesla, Micr= osoft, and Walmart

ID: 2848334

<= tr>
=
<= td style=3D"vertical-align:top;padding:0;">
<= div style=3D"font-family:'Capsule Sans Text', Arial;font-size:9px;font-weig= ht:400;letter-spacing:-0.1px;line-height:20px;text-align:left;color:rgb(106= , 114, 120);">Robinhood Snacks newsletters reflect the opinions of only the= authors who are associated persons of Robinhood Financial LLC (Member SIPC) and do not reflect the views of = Robinhood Markets, Inc. or any of its subsidiaries or affiliates. They are = for informational purposes only, and are not a recommendation of an investm= ent strategy or to buy or sell any security, digital asset (cryptocurrency,= etc) in any account. They are also not research reports and are not intend= ed to serve as the basis for any investment decision. Any third-party infor= mation provided therein does not reflect the views of Robinhood Markets, In= c., Robinhood Financial LLC, or any of their subsidiaries or affiliates. Al= l investments involve risk including the loss of principal and past perform= ance does not guarantee future results.
Robinhood Terms and Conditions =E2=80=A2 Disclosure Library =E2=80= =A2 Our Editorial Princi= ples =E2=80=A2 Contact Us =E2=80=A2 FAQ
To unsub= scribe from all commercial emails, click here
--b4772e15aa1c03ae35c20d216c7aca5686988dce49e525e2fdf59bf97afb Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset=utf-8 Mime-Version: 1.0
=E2=80=A6expectations are low for A= merica=E2=80=99s biggest companies
Disclo= sures
=
 

Busy week on Wall Street (Mario Tama/Getty Images)

<= /td>
 
<= /td>
<= table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation= " width=3D"100%">
Last Week=E2=80=99s Market Moves
 
Dow Jones
33,8= 86 (+1.20%)		S&P 500
4,138 (+0.79%)		Na= sdaq
12,123 (+0.29%)		Bitcoin
$30,474 <= span style=3D"color: rgb(0, 200, 5);">(+8.67%)
=
Dow Jones
33,886 (+1.20%)		S&P 500
4,138 Nasdaq
12,123 (+0.29%)		Bitcoin
$30,474 (+8.67%)<= /span>
<= /table>

Hey= Snackers,

AI is coming for your future =E2=80=94 literally.= The fortune-cookie industry is debating whether to use ChatGPT, instead of humans, to draft th= ose little snippets. One AI-generated bit of wisdom said: =E2=80=9CYour fat= e is written in the stars and encrypted in the clouds.=E2=80=9D That=E2=80= =99s deep=E2=80=A6 learning.

Stocks ticked up for the week, led by th= e Dow, after some big banks kicked off earnings season with stronger-than-e= xpected #s. But major indexes dipped on Friday as Fed rate-hike expectation= s jumped. Traders are no longer betting on a breather in May.

Btw... Do you want to start getting Snacks= daily? Or prefer to unsubscribe? Manage your subscription preferences here.
=

3D""
<= div style=3D"font-family:'Capsule Sans Text', Arial;font-size:13px;line-hei= ght:15px;text-align:left;color:#000000;">
SZN
= <= /table>

Earnings-season forecasts are dim for America=E2=80=99s biggest= companies as profits get pressured

=E2=80=99Tis the season=E2=80=A6 but it may not be so jolly. Earn= ings season is upon us, and expectations aren=E2=80=99t high for the first-= quarter stocking. Quarterly profits from S&P 500 companies are expected= to have dropped 6.8% from last year =E2=80=94 that would be the sharpest e= arnings decline since lockdown-era 2020 and the second straight quarter of = falling profit. Meanwhile, analysts expect that sales inched up a measly 1.= 8%. But the kickoff to earnings season pleasantly surprised:

  • Bank bu= ster: On Friday JPMorgan Chase and Citi reported stronger-than-expected #s, with JPM posting record revenue= and a 50% profit surge on higher interest rates.
  • Stocking stuffer: Despite less-than-stellar = earnings expectations, the S&P 500 is up 8% for the year, while the tec= hy Nasdaq has gained 17%.

Growth at all costs < prof= it at less cost=E2=80=A6 Soaring interest rates and stick= y inflation have eaten into profits and cooled demand. Cue: companies are s= hifting away from growth-driven investments to focus on cost-cutting profit= boosters. It=E2=80=99s =E2=80=9Cthe year of efficiency,=E2=80=9D M= eta CEO Zuck says. Corporate titans are tightening their belts to = prep for a downturn. Last week the Fed said it expected that the banking-cr= isis fallout would tip the US into a recession this year.

  • Cold-brew cu= ts: In addition to sweeping layoffs, companies like Meta, = Goldman Sachs, and Salesforce have cut cushy empl= oyee perks like barista-brewed coffee. Google is swapping = pricey MacBooks for Chromebooks.
  • Robo-savings: Companies like Disney and Microsoft are backtracking on big bets like the metaverse. Ins= tead, corporations are investing in things that could reduce costs long ter= m (think: Walmart and Amazon leaning into= warehouse automation).
THE TAKEAWAY

=E2=80=9CHow l= ow will you go=E2=80=9D is the question=E2=80=A6 on investors=E2= =80=99 lips. They=E2=80=99ll be listening for guidance about how much lower= corporate profits could fall. If companies signal further declines ahead, = this year=E2=80=99s rally could reverse. But if cost-cutting measures start= to show up on earnings reports as improving profits, markets could be plea= santly surprised.

<= !--[if mso | IE]>
 
<= /tr>
<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">Events
<= /td>
<= /table>
=
<= div style=3D"font-family:'Nib Pro', Arial;font-size:24px;font-weight:600;li= ne-height:32px;text-align:left;color:#000000;">

Coming up this week

Biscoff cookies en route to Cabo=E2=80= =A6 United Airlines and Alaska Air may have reason to join the spring-break party when they report this wee= k. While US airline fares are up 17% on the year, travel demand is still ta= king off. The TSA's expecting a record-breaking year for flights, and a= nalysts think this may be airlines' busiest spring ever. Last week Delta unloaded a quarterly loss, but projected strong growth a= nd profit ahead. It expects record advance summer bookings as consumers pri= oritize delayed YOLO experiences.

It=E2=80=99s finally = here=E2=80=A6 Tuesday is the deadline to file tax returns for most= Americans (many residents of CA, GA, and AL have until October). And it ma= y be the last go-around for what you could call =E2=80=9CIRS 1.0.=E2=80=9D = Over the next two years, the IRS will use billions in federal funding to up= grade its =E2=80=9960s-era tech and hire 20K new employees. For you: faster= returns and shorter phone wait times. Next tax year, the IRS will require = anyone earning $600+ on payment apps (for goods and services =E2=80=94 not = from splitting checks) like Venmo to report it.

<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">Zoom out
<= /table>
=
<= div style=3D"font-family:'Nib Pro', Arial;font-size:24px;font-weight:600;li= ne-height:32px;text-align:left;color:#000000;">

Stories we=E2=80=99re wat= ching

An apple a day=E2=80=A6 keeps the bills away. More Americans could see a boost in their credit = scores after credit agencies scrapped 70% of all medical debt in collection= s. Last year, Experian, TransUnion, and <= strong>Equifax removed already paid medical debt from millions of = credit reports. Last week they took it a step further by removing all u= npaid debt up to $500. Nearly a tenth of US adults owe at least $250 i= n medical debt, but many don=E2=80=99t notice until it dings their credit s= core. The move could provide relief at a time when US households carry reco= rd debt.

Still watching=E2=80=A6 Votes will be count= ed today to see if the Writers Guild of America will strike in the event th= at a new contract agreement isn=E2=80=99t reached with studios by May 1. If= the WGA strikes, we could see a repeat of the last screenwriting stoppage = in 2007, which lasted 100 days. On the table: shortened TV seasons, cancell= ations, and a bump in unscripted content (imagine: more =E2=80=9CLove Is Bl= ind=E2=80=9D). A strike would be a headache for streamers who are hungry fo= r the next =E2=80=9CSuccession.=E2=80=9D They=E2=80=99re expected to splurg= e $23.4B on scripted titles this year.

<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">ICYMI
= <= /table>

Last week's highlights<= /p>

  • Stuck: Amazon's $1.7B deal to buy Roomba maker iRobot is gat= hering dust as the FTC gets tougher on mergers. As antitrust gets anti-er, = companies might think twice before snagging startups.
  • Oops: Samsu= ng workers reportedly leaked secret company info while asking Chat= GPT for help. Nearly half of companies (and the Biden admin) are exploring = guidelines for AI-chatbot usage.
  • Volt: Tesla's building a Shang= hai =E2=80=9CMegapack=E2=80=9D plant to build more energy-storage solutions= for businesses and homes. Rising energy demand could fuel Elon=E2=80=99s b= iz as EV growth slows.

What else we're Snackin'
  • RTO: = Niche consultants attempting to get WFH=E2=80=99ers back to the office with= out a morale plunge are imploring execs to ditch return-to-office mandates = in favor of communal perks like yoga and lunch.
  • Emote: Lots of young Chinese men have gr= own emotionally attached to AI companions like Microsoft&#= 39;s spinoff Xiaoice, which had 650M users in 2018. Robo-romances could giv= e China a leg up in the AI race.
  • E= xhausted: The EPA=E2=80=99s new pollution-standards proposal t= hat seeks to limit tailpipe emissions could speed up the EV transition. It = would require up to 67% of all new cars sold in the US to be electric by 20= 32.
Want yo= ur Snacks daily?
The Daily Newsletter
Get fresh tak= es on financial news every week day. Try a sample:

=E2=9C=88=EF=B8= =8F Delta=E2=80=99s delayed YOLO= =E2=80=A2 Apr 14, 2023
=F0=9F=8F=A6 The great rate= -hike divide =E2=80=A2 Apr 13, 2023
=F0=9F=92=BC ChatGPT clocks in =E2=80=A2 Apr 12, 2023

Subscribe to the Daily
<= div style=3D"background:rgb(255, 255, 255);background-color:rgb(255, 255, 2= 55);margin:0px auto;max-width:600px;">
<= /table>
=
Snack Fact Of the Day
In nearly half of US marri= ages, women earn about the same as their spouse =E2=80=94 or more

<= /table>
This Week
  • Monday: Earnings expected from Charles Schwab
  • Tuesday: Tax Day. Earnings expected= from United Airlines, Bank of America, <= strong>BNY Mellon, Johnson & Johnson, Goldman Sachs, and Lockheed Martin
  • Wednesday: Earnings expected fro= m Morgan Stanley, Ally Financial, Citizens Financial, and Abbott
  • Thursday: Earnings expected from AT&T, TSMC, American Express, Alaska Air, and Union Pacific
    • =
  • Friday: Earnings expect= ed from Procter & Gamble

Authors of this S= nacks own shares: of Amazon, Alaska Air, Google, Delta, Disney, Tesla, Micr= osoft, and Walmart

ID: 2848334

<= /tr>
Robinhood Snack= s newsletters reflect the opinions of only the authors who are associated p= ersons of Robinhood Financial LLC (Member SIPC) and do not reflect the views of Robinhood Markets, Inc. or any= of its subsidiaries or affiliates. They are for informational purposes onl= y, and are not a recommendation of an investment strategy or to buy or sell= any security, digital asset (cryptocurrency, etc) in any account. They are= also not research reports and are not intended to serve as the basis for a= ny investment decision. Any third-party information provided therein does n= ot reflect the views of Robinhood Markets, Inc., Robinhood Financial LLC, o= r any of their subsidiaries or affiliates. All investments involve risk inc= luding the loss of principal and past performance does not guarantee future= results.
=
To unsubscribe from all commerci= al emails, click here
--b4772e15aa1c03ae35c20d216c7aca5686988dce49e525e2fdf59bf97afb--