What to Watch in the Day Ahead - Tuesday, October 29
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Alphabet will report results for its third quarter. Investors will be looking for growth in its advertising search business, AI cloud as well as any commentary about potential cost savings and capital expenditure from the company's new CFO.
On the US economic calendar, the Job Openings and Labor Turnover Survey, or JOLTS report, is expected to show 8 million job openings in September from 8.040 million in August. The Conference Board's consumer confidence index is expected to show a reading of 99.5 in October from 98.7 in September. Federal Reserve Bank of Dallas will issue the Texas Service Sector Outlook Survey for October. (1030/1430).
McDonald's is set to report a modest revenue rise in its third-quarter results as the burger chain grapples with weak spending from its low-income customers in the U.S. as well as tepid sales in China. Investors will look for further clarity on any impact on sales from the recent E. coli outbreak in some U.S. states and how the management plans to navigate the incident. Holiday demand forecast and further promotional measures will also be in focus.
Visa is poised to report a higher fourth-quarter profit thanks to consumer spending strength. Investors will closely watch out for commentary on the lower-end customers and spending trends in APAC.
AMD will report results for its third fiscal quarter. Investors will focus on indications of end-market demand for the PC industry and traction for AMD's AI data center chips.
Drugmaker Pfizer is expected to report third-quarter results before markets open. Investors will keenly watch the performance of its cancer drugs acquired through the $43 billion Seagen deal and any changes to its outlook for COVID products. The focus will also be on comments around engagement with activist hedgefund Starboard.
Cadbury-parent Mondelez International is expected to post a rise in third-quarter revenue, helped by steady demand for its confectionery goodies. Investors will look for comments on the impact from elevated cocoa prices, pricing actions, and impact on demand as well as volume growth owing to supply chain disruptions.
Chipotle is expected to post a jump in third-quarter revenue after market close on steady demand for its rice bowls and burritos from its affluent customers. Investors will watch for any change in strategies with new CEO Scott Boatwright settling in, comments on pricing, menu innovation and holiday demand forecast.
Incyte is expected to report its Q3 results. Investors are expecting a revision to their full-year outlook, as well as any further updates on its newly approved drug Niktimvo.
PayPal is expected to report higher third-quarter revenue, boosted by resilient consumer spending, with analysts and investors focusing on holiday spending outlook and management's efforts to reduce costs and improve margins.
Royal Caribbean is expected to post a rise in third-quarter revenue driven by strong customer demand for cruises and on-board spending on spa and restaurants. Investors will look out for comments on fuel prices, customer demand for the holiday season and the impact from Hurricane Milton.
Home improvement firm Masco is expected to post a rise in revenue on consumer demand due to increased home renovation and decoration projects. Investors will look out for comments on pricing strategies and updates on the annual outlook.
JetBlue is expected to report a smaller third-quarter loss when it reports its results. Investors will be looking for comments on the pricing environment and any updates to its cost-savings program.
Natural gas producer EQT Corp is expected to report a fall in third-quarter profit, hurt by a deep decline in natural gas prices. Investor focus will be on management's commentary on production curtailments and commodity prices.
Reddit is scheduled to report its third-quarter financial results. It is expected to report an 11% rise in quarterly revenue sequentially, according to analysts' estimates compiled by LSEG. Investors will be looking for commentary about how its content licensing and sports deals are paying off.
Gorilla glass maker Corning is expected to report higher third-quarter revenue, helped by growing demand for its optical fiber cables, connectors and related hardware.
Barcode scanner maker Zebra Technologies is expected to report higher third-quarter revenue, driven by a surge in demand for its products in the healthcare sector.
DaVita is expected to report third-quarter results after markets close. Investors are expected to look out for any impact to dialysis treatment volumes due to a shortage of dialysis solutions from Hurricane Helene.
On the Canada front, Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers are scheduled to appear before the House of Commons Standing Committee on Finance. (1530 /1930)
Reporting by Indrishka Bose; Editing by Vijay Kishore
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