((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
(The Day Ahead is an electronic and PDF publication that includes the day’s top events and stories, analysis and other material. To receive The Day Ahead, Eikon users can register at DAY/US. Users of Thomson One can register at RT/DAY/US All times are ET/GMT).
April 29 –
Amazon’s revenue is expected to grow 12%, with its e-commerce business growing 7%. The results reportedly show momentum for its AWS cloud unit thanks to new AI capabilities, although growth in online shopping remains subdued.
The Federal Open Market Committee of the US Federal Reserve (FOMC) begins its two-day meeting on interest rates. The FOMC will announce its interest rate decision, followed by a statement the following day.
Hamburger chain McDonald’s is expected to record an increase in its turnover in the first quarter, thanks to sustained demand in Canada, Germany, Great Britain and in the promotion sector. Investors will be paying attention to comments on the impact of the conflict in the Middle East on sales and the slowdown in China. They will also await feedback on the pricing and promotions strategy to combat spending pressures from continued high inflation.
The Conference Board is expected to report that its consumer confidence index likely came in at 104 in April, following a reading of 104.7 the month before. The S&P CoreLogic Case-Shiller National Home Price Index is expected to rise 0.1% in February on a seasonally adjusted monthly basis, after posting a similar rise in the previous period. Year-on-year, the index is expected to rise 6.7% in February, following a 6.6% increase the previous month.
Advanced Micro Devices will report its first quarter results and analysts expect the company to report a 2% increase in revenue. Investors will focus on PC market demand indicators and updates regarding the company’s artificial intelligence chips.
Coca-Cola is expected to post a rise in first-quarter revenue, driven by strong demand for its pricey Coke and Sprite products, with the soda giant benefiting from consumers increasingly consuming foods at home. ‘outside. Investors will be paying attention to comments on volume growth, further price increases, business disruptions due to the Middle East conflict and changes in consumer demand.
Starbucks is expected to record an increase in its turnover in the second quarter, thanks to the good performance of demand for coffee and cold drinks. Investors will be attentive to comments on international demand and the impact of the conflict in the Middle East on footfall and store sales.
Eli Lilly will report its first quarter results before markets open. Investors will focus on supply updates for its popular diabetes drug, Mounjaro, and its weight loss treatment, Zepbound. Attention will also focus on Donanemab, Lilly’s Alzheimer’s disease drug candidate, which is expected to be reviewed by a panel of experts at the US FDA.
PayPal is expected to report an increase in first-quarter profit as consumer spending holds steady across all income brackets. Investors should be interested in executives’ plans to expand revenue streams beyond market-sensitive transaction volumes and provide more stable product-based offerings.
3M is expected to report an increase in first-quarter profit from a year earlier, thanks to price increases. Investors will be watching for any revisions to its full-year guidance and a recovery in consumer electronics demand in China.
Mondelez International, parent company of Cadbury, is expected to report higher revenue in the first quarter, driven by strong demand for its confectionery products, including Oreo biscuits and Toblerone chocolate. Investors will await comments on the impact of rising cocoa prices, pricing actions, impact on demand and volumes, and cost-cutting measures taken by the company.
Ebay is expected to report a 0.8% increase in revenue, which could be its worst performance in the last five quarters.
Marathon Petroleum is expected to post lower first-quarter profit due to lower refining margins. Investors and analysts will await comments on summer travel demand, crude oil supplies and refinery maintenance activities.
Chesapeake Energy is expected to report a decline in quarterly revenue as the gas producer struggles to offset continued weakness in natural gas prices.
Oil and gas company Diamondback Energy is expected to report higher first-quarter profits, thanks to rising oil prices. Investors and analysts will await comments on growth forecasts for the full year.
Archer-Daniels-Midland reports first quarter results as it faces a government investigation into its accounting practices.
Pinterest is expected to post higher revenue in the first quarter, helped by strong demand for advertising on the image-sharing platform. Investors and analysts will be watching for comment on the San Francisco, Calif.-based company’s advertising deals with Google and Amazon. Earlier in April, Bernstein analysts said in a note that while deals with Amazon and Google took longer to bear fruit, as data suggests, and revenue growth lagged behind of large companies, the company name could lose its luster.
Super Micro Computer is expected to report a 208% jump in third-quarter revenue, driven by strong demand for its servers used in artificial intelligence applications. Investors are awaiting guidance on growth, the supply of chips used in servers and how the company plans to improve margins.
Wells Fargo is expected to hold its annual shareholder meeting in 2024.
Molson Coors is expected to post higher revenue in the first quarter, driven by price increases and resilient demand for its major beer brands. Investors will be awaiting comments on demand trends, margin recovery and any company forecasts.
Sirius
US energy company Public Service Enterprise Group is expected to report a decline in first-quarter profits, due to the impact of weather conditions in service areas.
Food distributor Sysco is expected to post an increase in net sales in the third quarter, thanks to sustained demand for custom-cut meat and seafood. Investors will be awaiting feedback on pricing, demand, costs and sales forecasts.
Gas pipeline operator Oneok publishes its first quarter results. Investors will await comments on the use of natural gas amid falling prices.
Industrial gas manufacturer Air Products and Chemicals reports its second quarter results. Investors will be awaiting feedback on the performance of its industrial gases segment across different geographies, particularly in China.
Skyworks Solutions is expected to post a 9.3% decline in revenue in the second quarter, due to lower demand for its chips.
Microsoft CEO Satya Nadella will visit Indonesia. He is expected to meet Indonesian President Joko Widodo at the palace. After meeting with the president, Nadella is expected to deliver a speech on the development of artificial intelligence.
Statistics Canada is expected to release monthly GDP figures. The economy likely grew 0.3% in February, after growing 0.6% the previous month.
Restaurant Brands International is expected to post an increase in its revenue in the first quarter, thanks to strong demand at its Burger King and Tim Hortons chains. Investors will be paying attention to comments on consumer sentiment in China and international markets.
Mexico’s statistics agency INEGI is expected to release GDP data. Mexico’s GDP likely grew 0.1% in the quarter, the same rate as the previous quarter. On an annual basis, GDP is expected to have increased by 2.1%, lower than the 2.5% increase recorded in the previous quarter. Brazil’s unemployment rate is expected to increase by 8.1% in March, after increasing by 7.8% in the previous period, according to the country’s statistics agency, IBGE. Separately, Chile’s government statistics agency INE is expected to report that the unemployment rate likely rose to 8.7% in March, after rising 8.5% the previous month. Data on the country’s copper production is also awaited.
