What to Watch in the Day Ahead - Wednesday, August 7
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Walt Disney is scheduled to report a rise in third-quarter revenue, helped by strong performance of animated releases such as "Inside Out 2." Separately, Warner Bros Discovery is expected to report a fall in revenue in the second quarter, hurt by weak performance at its studio segment.
CVS is due to report its second-quarter results before markets open. The focus will be on changes to the company's annual forecast and comments related to medical care demand and costs.
The New York Times is expected to report a rise in second-quarter revenue, aided by a rise in customer sign-ups to its bundle offerings and a rise in advertising revenue.
On the U.S. economic front, consumer credit data is expected to show borrowing rose by $10 billion in June, after increasing by $11.35 billion in May.
Lyft is expected to report a rise in second-quarter revenue, its best in over two years, as summer-time tourist travel and a wider return-to-offices boost cab demand.
Robinhood is likely to post a jump in second-quarter revenue as the commission-free brokerage sees a surge in trading volumes driven by the return of meme-stock influencer Keith Gill and a rally in the crypto markets.
Shopify is expected to report a higher second-quarter revenue as the company's investments to improve its platform resonates with more small- and medium-sized businesses, driving growth at the company. Investors will be watching for the company's forecast and its commentary on consumer demand and the benefit from AI-powered tools on its platform.
Bumble's is expected to post a rise in revenue for the second quarter, with investors looking for commentary on the company's app and marketing efforts.
Ralph Lauren is likely to post a decline in first-quarter revenue on lingering wholesale pressures and a pull back from off price owing to the company's cleaner inventory levels. Investors will look out for demand outlook in China and North America, as well as promotional strategy to buoy demand.
Bio-Techne is scheduled to report its fourth-quarter results. Investors will look out for comments on biotech demand and demand in its key market China.
Beyond Meat is expected to post a decline in second-quarter revenue, hurt by sluggish demand for its high-priced faux meat patties. Investors will look for comments on pricing actions, demand as well as comments on balance-sheet restructuring and annual forecasts.
Mckesson is set to release its first-quarter results, where investor focus will be on the demand for the company's branded and specialty drugs.
In Canada, Ivey Purchasing Managers Index data for July is on the radar.
On the Latin American front, Brazil's IGP-DI inflation index likely rose to 0.69% in July, higher than 0.50% reported in June.
Compiled by Dhanya Manjunath Hegade; Editing by Shreya Biswas
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