42% of the S&P 500 market capitalization reporting earnings this week
Today we are going to look at Corporate Earnings and a big win we had going long a BORING dividend stock that made us gains.
Please be sure to read the disclaimer on our site before moving forward, comment below and follow us on social media (Instagram, and twitter)!
First off, it's earnings season and this week is a HUGE one with over 42% of the S&P 500 market capitalization reporting earnings. (chart courtesy of Goldman Sachs) It's a very crucial week for the market which will be telling if company earnings will contract or expand.
In fact we have been long one of the names that reported today, Coca-Cola ($KO), and it was our chart of the Day on March 27, 2023. We were long common and options and are taking profits of 7% long on the common today!
Earnings by $KO
We have the earnings break down below, the stock is up currently 2% pre market after beating expectations by $0.03 generating $11 billion in revenue year over year! That's a lot of soda!
$KO | Coca-Cola Q1 23 Earnings:
- Adjusted EPS $0.68 (est. $0.65)
- Rev $11.0B (est. $10.84B)
- Adjusted Organic Rev +12% (est. +9.62%)
- Unit Case Volume +3%
- Confident In Ability To Deliver On 2023 Objectives
[Est stands for estimated]
We'll take the win today as we stayed disciplined and hold a quarter. We highly suggest following us on Twitter as it's easier to see trades we are making real time to benefit you in the market!
We appreciate everyone that takes the time to read our blog posts and don't forget to trade confidently!
Essex Trading Quote of the Day (#EsxQotD)
"IF you don't bet you can't win. IF you lose all your chips, you can't bet."
~ Larry Hite
Comments