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May 8 – Warner Bros. Discovery is expected to report a decline in first-quarter revenue due to a weak advertising market. Weekly jobless claims data from the U.S. Department of Labor is expected to show that initial jobless claims increased by 7,000 to a seasonally adjusted 215,000 in the week ending on May 4. Meanwhile, claims for unemployment benefits likely increased to 1.785 million for the week ended April 27, up from 1.774 million for the previous week. George Mason University is scheduled to broadcast a pre-recorded interview with Federal Reserve Bank of San Francisco President Mary Daly at the Marcatus Center at George Mason University in Fairfax, Virginia. (1400/1800)
Tapestry is expected to report a decline in revenue in the third quarter as weak demand in North America and Europe is likely to weigh on its business. Investors will be awaiting comments on its deal with Capri, the demand outlook and the state of accessible luxury spending.
Video game platform Roblox is expected to announce an increase in its bookings in the first quarter, thanks to increased spending on games.
Akamai Technologies is expected to report higher revenue in the first quarter, likely driven by resilient demand for cloud security services.
Tower Semiconductors is expected to report first-quarter results below analyst estimates, as the company previously signaled that a supply glut in the automotive sector could weigh on its results.
EPAM is expected to report first-quarter revenue in line with estimates and forecast mixed second-quarter revenue as inflation and high interest rates force technology customers to cut spending. Viatris is expected to report its first quarter results. Investors are likely to pay attention to any changes to the company’s earnings forecast and the performance of its branded and generic drugs. Charles River Laboratories is expected to report its first quarter results before markets open. The focus will be on updates to its annual forecasts and feedback on customer spending. Solventum, the 3M spin-off, is expected to report its first quarter results before markets open. Investors will focus on the healthcare company’s outlook for the year and its growth strategy as a standalone company.
Mettler-Toledo is expected to report first-quarter results after markets close. Investors will be watching for any updates to the company’s full-year sales and earnings per share outlook, given the shipping delays that have already been announced and are impacting its business. Sun Life Financial is scheduled to release its first quarter results. Canada’s second-largest life insurer is expected to record an increase in profits.
In Latin America, Mexico’s central bank is expected to keep its benchmark interest rate at 11% as persistent inflation remains above the bank’s target range. Separately, Mexico’s national statistics agency, INEGI, is expected to report that headline inflation likely rose 0.19% in April, after rising 0.29% the previous month. On an annual basis, inflation likely increased by 4.63% in April, after increasing by 4.42% in March. Core inflation is expected to increase by 0.24% in April, after recording a rise of 0.44% in the previous month. On an annual basis, core inflation in April is expected to increase by 4.40%. Separately, Peru’s central bank is expected to lower its benchmark interest rate by 25 basis points to 5.75%. In addition, the country is expected to release its trade balance figures for March.
