Business on February 22, 2023…

Realty Income, Walmart, and what’s AT&T up to? ⤵️

There was a lot going on in the market yesterday. But what exactly? At 10 a.m. yesterday, Vladimir Putin delivered his address to the nation. I won’t comment on that further—this isn’t the right place. The stock market flinched briefly but managed to recover fairly quickly after the speech. But the geopolitical situation is certainly a cause for concern for many.

There were a lot of consumer data releases yesterday, as well as quarterly earnings reports. Here’s a quick recap of the most important ones:

$O (+0,52%)
Realty Income:

beat analysts’ estimates of $0.32 with fourth-quarter earnings per share of $1.00. Revenue of $888.7 million exceeded expectations of $843.31 million.

$COIN (-4,81%)
Coinbase Global:

beat analysts’ estimates of -$2.51 with a fourth-quarter earnings per share of -$2.46. Revenue of $629.1 million exceeded expectations of $588.17 million.

$HD (+0,36%)
The Home Depot Inc.:

beat analysts’ estimates of $3.28 with fourth-quarter earnings per share of $3.30. Revenue of $35.8 billion fell short of expectations of $35.96 billion.

$WMT (+0,68%)
Walmart Inc.:

beat analyst estimates of $1.52 with fourth-quarter earnings per share of $1.71. Revenue of $164 billion exceeded expectations of $159.77 billion. In its outlook for fiscal year 2023/2024, the company expects earnings per share of $5.90 to $6.05 (analysts’ forecast: $6.51).

$CZR (-1,57%)
Caesars Entertainment:

missed analysts’ estimates of $0.19 in the fourth quarter with earnings per share of -$0.70. Revenue of $2.8 billion was in line with expectations.

$FRE (+1,52%)
Fresenius:

expects organic growth in consolidated revenue in the low to mid-single-digit percentage range for fiscal year 2023. Currency-adjusted consolidated EBIT before special items is expected to remain roughly stable or decline by up to the high single-digit percentage range due to the challenging business environment at Fresenius Medical Care. In 2022, FMC generated revenue of 19.4 billion euros (previous year: 17.6 billion) and net income of 673 million (previous year: 969 million). In the fourth quarter, these figures were 4.99 billion and 139 million, respectively.

$PANW (-8%)
Palo Alto Networks:

exceeded analysts’ estimates of $0.78 with earnings per share of $1.05 in the second quarter. Revenue of $1.7 billion exceeded expectations of $1.65 billion.

What else has been happening? $T (+0,24%) AT&T is reportedly planning to sell its cybersecurity business, according to Reuters. For me, this remains a market that will—and must—continue to receive a great deal of attention in the coming years. With the high level of digitalization—something everyone is already noticing in their own operations—it’s clear that security is no longer optional!

Economic Data (abridged version)

08:00

DE: Consumer Prices (final) January FORECAST: +1.0% MoM/+8.7% YoY preliminary: +1.0% MoM/+8.7% YoY previously: -0.8% MoM/+8.6% YoY HICP FORECAST: +9.2% YoY preliminary: +1.2% MoM/+10.0% YoY Previously: -1.2% MoM/+9.6% YoY

08:45

FR: Business Climate Index for February FORECAST: 102 previous: 103

10:00

DE: Ifo Business Climate Index for February FORECAST: 91.1 previous: 90.2 Current Conditions FORECAST: 94.8 previous: 94.1 Business Expectations FORECAST: 88.0 previous: 86.4

3:00 p.m.