What to Watch in the Day Ahead - Tuesday, April 23
The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at DAY/US. Thomson One users can register at RT/DAY/US. All times in ET/GMT
Among automakers in the U.S., analysts expect Tesla's first-quarter revenue to drop when the carmaker releases its report card. The revenue drop will mark the first fall in nearly four years after deliveries in the first quarter fell. Wall Street also expects CEO Elon Musk to provide guidance on the future of autonomy software, the Robotaxi project and the affordable car program. General Motors is also scheduled to report its first-quarter results. GM's biggest challenge will be explaining to investors where profit growth will come from in the months ahead as EV growth slows.
S&P Global is due to report flash U.S. PMIs for April. The flash manufacturing PMI reading is expected to be 52, compared to 51.9 in the previous month. The flash services PMI likely came in at 52, compared to 51.7 in the previous month. Meanwhile, a report from the Commerce Department is likely to show new home sales rose to a seasonally adjusted annual rate of 670,000 units in March from 662,000 units in February. Separately, the Federal Reserve Bank of Philadelphia is scheduled to issue a Non-manufacturing Business Outlook Survey for April.
Visa is expected to report a rise in second-quarter profit, helped by resilient consumer spending on dining out and travel. The summer season is shaping up to be one of the best in recent years, and will also help the world's largest payment processor's revenue outlook for the current quarter. Analyst and investor focus is expected on executive comments on a hit to earnings from the interchange fees settlement and competition arising from Capital One's $35 billion deal to buy Discover Financial.
PepsiCo is expected to post a rise in first-quarter revenue, boosted by steady demand for its pricey sodas and snacks. Investors will look for comments on further price hikes, easing costs, impact on demand due to the conflict in the Middle East, and a shift in consumer demand.
United Parcel Service is expected to report a decline in first-quarter profit, as small package delivery demand remains subdued and higher costs tied to the company's new labor contract with the Teamsters union trim margins.
General Electric is expected to report higher first-quarter profit, but the focus will be on the company's plans as a standalone aerospace company following the spin-off earlier this month.
US defense contractor Lockheed Martin is expected to report a lower first-quarter profit amid supply constraints.
Texas Instruments will report first-quarter results. Investors will focus on indicators of demand from industrial and automotive customers as well as consumer electronics end markets.
Mattel is expected to report a rise in first-quarter revenue, which would be early signs that demand for its toys and dolls has begun to recover. Investors will watch for comments on consumer trends, margin recovery, cost savings initiatives, and any forecast that it provides.
Philip Morris International is scheduled to publish its first-quarter results, and investors will be looking for fresh details about the hotly anticipated U.S. launch of its flagship heated tobacco device, IQOS, in the second quarter.
When Danaher reports its first-quarter results, investors will focus on the performance of its respiratory diagnostics and life sciences units and closely watch for comments around demand for life sciences tools from smaller biotech companies.
Copper giant Freeport McMoRan is likely to post a jump in earnings for the first quarter due to rising prices for the red metal.
Insurer W R Berkley is scheduled to report its first-quarter earnings. Analysts expect the firm's profit to jump, helped primarily by a surge in investment income.
Payments firm Fiserv is expected to report a jump in first-quarter profit as consumer spending continues to be robust.
Quest Diagnostics is reporting its first-quarter results, and investors will look for color on the performance of the company's base business, excluding COVID-19 during the quarter and any changes to the laboratory operators' 2024 outlook.
Computer storage devices maker Seagate is due to report its third-quarter earnings. The company is also expected to forecast fourth-quarter revenue growth, after about eight quarters of decline, on the back of recovery in the PC market.
CoStar Group is expected to forecast second-quarter revenue above Wall Street estimates as the National Association of Realtors settlement might spur up home sales, bringing in more traffic to homesales.com website.
NASA Chief Bill Nelson sits down with Reuters in Mexico City to talk about U.S.-Mexico collaboration on airborne science, including greenhouse gas and tropospheric emissions, wildfires, and water management.
Compiled by Shreya Sabharwal in Bengaluru; Editing by Ravi Prakash Kumar
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
