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00:00 Speaker A
The Nasdaq is still under some selling pressure. Dow futures right now indicating a gain of about a 4 tenth of 1%. S&P futures not even that Nasdaq futures down 4/10 of 1% after we had a very sharp software sell off yesterday. There didn’t seem to be a single precipitating event, although some fingers were being pointed at a new Anthropic product that was rolled out. It wasn’t even rolled out yesterday, but it seemed to get more attention yesterday.
00:23 Speaker A
And really highlighting some of the concerns that are already in the market about how much AI will be able to replace software. You heard those comments from Jensen Wong saying, it doesn’t make sense that that would happen. and we indeed have had various analysts here on the show pushing back against that notion and saying there will be a place for enterprise software for the foreseeable future, some of them calling the sell-off that we had been seeing even before yesterday
00:48 Speaker A
overdone. So that’s the backdrop that we’ve got for stocks. And then of course, we’re still right smack dab in earning season. And I do want to point out some of the earnings highlights. We talked about AMD earlier, but let’s talk about Eli Lily. That company coming out with a huge sales forecast, saying sales are going to rise as much as 27% this year to $83 billion. Fueled, of course, in part by Monjaro and Zepbound, its diabetes and obesity/weight loss uh drugs.
01:14 Speaker A
And this is in sharp contrast to the forecast we got from Novo Nordisk, which was disappointing. The Eli Lilly is still waiting for approval of its weight loss pill. That could happen this spring. Remember, Novo’s got approved in December and is seeing high demand, but those Eli Lilly shares are up some 8% this morning. Then let’s talk about Uber because they have a new CFO who who is an internal executive getting a promotion. That’s Balaji Krishnamurthy.
01:40 Speaker A
He is a really an autonomous vehicle proponent, so signaling, of course, Uber’s expansion into that area. That executive change will be effective February 16th. The prior CFO is leaving after less than three years on the job for another job. As the company announced this, the backdrop is not a great uh a forecast here, not great numbers. adjusted earnings per share this current quarter, the company is forecasting at much as much as 72 cents.
02:04 Speaker A
Analysts had been looking for 5 cents above that, and the Ebitda forecast also fell short. That said, fourth quarter gross bookings rose by 22%. The company’s first quarter gross bookings is going to be as much as $53 and a half billion dollars and they’ve said they’ll accelerate more this year. So the shares have been under pressure right now. They’re up about a half a percent. And then let’s get to Chipotle. That company reported earnings after the close.
02:26 Speaker A
Cop sales will be about flat this year, they said after they fell in 2025 for the first time since Chipotle went public, including a 2 and a half% drop by the way in the fourth quarter as part of that full year drop. The stock was down 39% last year. Now the company is trying to turn it around. They’re accelerating the pace of store openings this year. They plan to open 370 new stores and they’ve been really trying to communicate the value proposition. As we know, that is really the key
02:51 Speaker A
at these fast casual chains or fast food chains as well. really saying we are not going to cost you a lot of money to get fed here. The company’s also been rolling out some new items like single tacos, like higher protein offerings, but those Chipotle shares are down about 2% this morning.