Happy Monday! Or, would you rather happy earnings season?
Either way, it's been a busy start to the week.
Let's go over the top stories from today so that we can all head home.
Jim Cramer's Not Feelin' Great About Nvidia's Next Quarter
TheStreet's Julie Iannuzzi covered Jim Cramer's investing boot camp.
Cramer didn't hold back, as expected.
Nvidia (NVDA - Get Report) has long been a favorite of TheStreet's founder and Action Alerts Plus Portfolio Manager Jim Cramer, but he told a packed audience Saturday at his Boot Camp for Investors in New York why his charitable trust recently sold out of the stock.
He said the trust took a win and exited the name because "I think Nvidia is going to miss the quarter.
Still Cramer noted that Nvidia is still in his trust's "bullpen" of possible future buys, and that he expects to buy it back at the right price.
Jeff Marks, lead analyst for Cramer's trust and his Action Alerts Plus club for investors, said he and Cramer still like NVDA for the longer term because "there are so many trends -- autonomous cars, gaming. ... We had a huge gain [when we sold]."
Be More Actionable, General Electric
TheStreet's Anders Keitz tackles the energy giant.
Cowen and Co. cut General Electric's (GE) price target from $14.50 a share to $12 a share but maintained its Market Perform rating.
"Thus, we expect Mr. [Larry] Culp may do what prior CEO Flannery didn't: shore up the balance sheet, quickly, to allow for more flexibility to operate," the Cowen analysts said. "GE's high leverage, amplified by anemic FCF, long cycle markets, & 'unknowable' cash calls (insurance; Power fixes, etc.) is the albatross that we expect Culp to address early."
The Boston-based company announced on Friday that it would be delaying its third-quarter earnings by five days, and will now report on Oct. 30 to let Culp to complete initial business reviews and site visits following his appointment on Oct, 1.
Culp is expected to share his initial observations on the third-quarter conference call, "with more detail expected in early 2019," GE said.
Netflix and Chill...Hopefully
Netflix (NFLX) is releasing its earnings on Tuesday, Oct. 16.
TheStreet's Eric Jhonsa tackled the streaming giants walk up to its earnings.
On average, analysts polled by FactSet expect Netflix to report Q3 revenue of $4 billion (up 34% annually) and GAAP EPS of $0.68. For Q4 -- Netflix provides quarterly guidance within its shareholder letters -- the consensus is for revenue of $4.23 billion (up 29%) and EPS of $0.50.
However, Netflix's subscriber figures and guidance generally have a much bigger impact on how its stock moves post-earnings. In July, Reed Hastings's company guided for 5 million Q3 streaming net subscriber adds -- 650,000 in the U.S. and 4.35 million in international markets -- falling short of a pre-earnings consensus of about 6 million. For seasonally big Q4, the analyst consensus is for 1.6 million U.S. and 6.1 million international net adds.
You're gonna have to read Jhonsa himself if you want the full breakdown.