What to Watch in the Day Ahead - Thursday, August 1
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Apple is expected to report a rise in third-quarter revenue, helped by higher iPad sales from new launches and strength in its services business. Investors will focus on commentary on the AI roadmap, after major updates recently, and outlook for the current quarter which will see the launch of the new line of iPhones.
Amazon.com is slated to post a jump in second-quarter revenue, aided by robust cloud-computing demand thanks to the booming interest in artificial intelligence. Investors will be focused on the company's forecast, its guidance on Amazon Web Services growth, as well as comments on expenses and the 2024 Prime Day event.
The Institute for Supply Management is scheduled to report July manufacturing PMI likely increased to 48.8 from 48.5 in June. The prices paid is expected to drop to 51.8 in July from 52.1 in June. Additionally, construction spending data for June and S&P Global manufacturing PMI numbers for July are due. Separately, the jobless claims report for the week ended July 27 is likely to show initial claims rising by 1,000 to 236,000.
Chipmaker Intel will report results for the second quarter and unveil revenue expectations for its fiscal third quarter. Investors will focus on indicators of demand from the PC and data center markets along with sales from its foundry unit.
Cigna is scheduled to report before markets open, where the focus is going to be on changes to the company's annual outlook and comments regarding medical costs.
Investors are likely to look out for sales of Biogen's new Alzheimer's disease drug and any updates to its annual outlook when it reports its earnings for the second quarter.
Hershey is slated to post a drop in second-quarter revenue as the higher prices of chocolates and candies pressure demand. Investors will be looking out for comments on cocoa prices, pricing actions and demand outlook in its key North American and European markets.
Moderna is set to report its second-quarter earnings, where focus might be on COVID vaccine sales, and the management's comments about the upcoming launch of its respiratory syncytial virus (RSV) vaccine for the 2024-25 season.
Microchip Technology is expected to post a decline in its first-quarter revenue, potentially impacted by weak demand from automotive segment as firms are clearing excess inventory. Analysts and investors will be looking for commentary about how customers' efforts to reduce excess inventory are working for the company.
Canada Goose is slated to post a rise in first-quarter revenue, helped by a rebound in demand in North America and resilient sales in China for its pricey puffer jackets. Investors will look out for comments regarding a slowdown in the luxury segment, demand trends in China and anything regarding supply chain impact.
Canadian oil and gas producer Cenovus Energy is expected to post a rise in second-quarter profit, driven by higher oil production.
Bleach maker Clorox is expected to post a decline in fourth-quarter revenue, hurt by tepid demand for its higher-priced products. Investors might look out for comments on pricing actions, demand and volumes, impact of input costs and rising competition from private labels as well as annual forecasts.
Analysts expect Intercontinental Exchange, the owner of the New York Stock Exchange, to report a jump in its second-quarter results, on the back of strong trading volumes and robust demand for its mortgage technology data.
Becton Dickinson is expected to release its third-quarter results, where investor focus will be on the performance of its surgical equipment and syringes.
Roku is scheduled to post a rise in second-quarter revenue on stable advertising budgets and improving demand for connected TVs.
Kellanova is expected to post a decline in second-quarter revenue as demand for its breakfast cereals and ready-to-eat snacks falters amid persistent inflation. Investors will look out for comments on pricing actions, demand outlook and commodity costs like sugar and cocoa.
Regency Centers' second-quarter revenue is forecast to rise, helped by steady leasing demand from its grocery-anchored shopping centres. Investors will look for comments on rental rates, demand from tenants and annual forecast.
Video-game platform Roblox is expected to report a rise in second-quarter bookings as it is benefiting from higher in-game purchases within its virtual worlds.
DoorDash is scheduled to report an increase in second-quarter revenue, helped by steady food and grocery orders on its online delivery platform. Investors will look out for comments on impact from costs, investments in newer verticals and any forecast that the company provides.
Cybersecurity firm Gen Digital is slated to post a higher first-quarter revenue, driven by robust demand for its antivirus software amid heightened cybersecurity concerns and evolving cyber threats.
Cloudflare is expected to report a rise in second-quarter revenue, with a likely dip in top-line growth and profit numbers.
Vertex Pharma is due to post its second-quarter results after markets close, where investors are expected to look out for demand for its cystic-fibrosis treatments and commercial launch of gene therapy Casgevy.
Kimco Realty is scheduled to post a rise in second-quarter revenue on robust leasing demand at its grocery-anchored shopping centres.
Atlassian is expected to report a rise in fourth-quarter revenue on steady demand for its collaboration software.
Bio-Rad is expected to report second-quarter results, where investors are expected to look out for comments on biotech demand from its clients and in key market China.
Canada's manufacturing PMI for July is due for release.
On the Latin American front, S&P Global is set to announce the July manufacturing PMI numbers for Brazil and Mexico. Additionally, Chile's IMACEC economic activity index is expected to be 1.7% in June, after a reading of 1.1% in May.
Compiled by Dhanya Manjunath Hegade in Bengaluru; Editing by Krishna Chandra Eluri
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