What to Watch in the Day Ahead - Wednesday, April 26

Arbutus Biopharma

25/04/2023 19:30

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Facebook-parent Meta Platforms Inc's first-quarter revenue is expected to fall 1%, hurt by a
poor advertising market. Investors expect the company to provide guidance on the state of the
advertising market and how its cost-cutting measures are faring.
    
On the U.S. economic front, the Commerce Department is due to report data on durable goods
orders, which likely increased 0.7% in March compared with a 1% fall in the month before. The
Commerce Department is also expected to report wholesale inventories likely rose 0.2% in March.

Boeing Co is expected to report a narrower loss for the first quarter as jet deliveries rise but
all eyes will be on commentary around the impact of a manufacturing issue found in some 737
MAXs.

Mattel Inc is expected to report a fall in first-quarter revenue as stubbornly high inflation
and higher prices discourage consumers from spending on its toys and dolls. Investors will look
for comments on impact from inflation, shift in consumer demand, status of inventory levels at
retailers and any forecasts that the company provides.

Humana Inc is scheduled to report its first-quarter earnings. Investor focus is expected to be
on the health insurer's medical costs amid waning COVID-19 cases and a recovery in elective
surgeries, as well as management commentary on the impact of Medicare policy changes for 2024.

General Dynamics Corp's first-quarter profit and revenue are expected to decline.
    
Ebay Inc is expected to report flat revenue growth in the first quarter.

Thermo Fisher Scientific is expected to report first-quarter earnings before markets open.
Investors will focus on comments around demand trends in its life sciences solutions segment,
impact from inflation to its results and any updates to the company's strategy for mergers and
acquisitions.

Top executives from the world's largest asset managers, including BlackRock, PIMCO, Capital
Group, are scheduled to speak at a Morningstar Investment conference in Chicago running from
April 25 to April 27.

Hilton Worldwide Holdings Inc is likely to report a rise in first-quarter profit as demand for
travel remained strong despite fears of a mounting recession.

Pioneer Natural Resources' first-quarter profit is expected to ease from last year as oil and
gas prices declined from multi-year highs. Investors will focus on Permian basin outlook, demand
forecast and M&A activity.

The Bank of Canada releases its monetary policy deliberations held before its April 12 rate
decision.

Canada's Cenovus Energy is expected to report its first-quarter results amid volatile crude oil
prices.
    
Roku Inc is expected to report a fall in quarterly revenue, hurt by a weak advertising market.

Transport and logistics company CH Robinson Worldwide Inc is scheduled to post lower
first-quarter profit, hit by soft demand for transportation services due to continued slowing
economic growth. Anything on outlook and services comment would be of interest.

Norfolk Southern Corp is likely to post a higher first-quarter profit and revenue, helped by
price hikes.

KLA Corp is expected to report a slight rise in third-quarter revenue, aided by manufacturing
expansion plans by chipmakers.

Boston Scientific Corp is scheduled to report first-quarter earnings before markets open.
Investors and analysts will look for any changes to the company's annual outlook and comment on
demand trends for their surgical devices.

Moderna is likely to ask a Delaware court to dismiss patent infringement claims brought over its
COVID-19 vaccines by biotech company Alnylam Pharmaceuticals, arguing the U.S. government is the
proper target of some of the claims based on Moderna's contract to provide vaccines for the
government's nationwide vaccination effort. A different judge in Delaware preliminarily rejected
Moderna's argument in its patent dispute with Arbutus Biopharma despite the federal government's
support.

Wabtec Corporation is expected to report a rise in first-quarter profit and revenue, driven by
high demand for new locomotives, parts and services in its freight segment.

Investment bank and brokerage Raymond James Financial Inc is expected to report a rise in
second-quarter profit, helped by gains in net interest income and asset management fees.
Investors and analysts are expected to closely look at the company's balance sheet as the
banking industry reels from the fallout of a recent crisis.

Edwards Lifesciences Corp is expected to report first-quarter earnings. Investors will watch out
for sales from company's artificial heart valves amid device makers reporting sales recovery as
hospital staff shortages ease and procedure volumes pick up.

Brazil's IPCA-15 Consumer Price Index likely rose 4.2% in the year to mid-April, below the 5.36%
reported in the previous 12-month period. On a month-on-month basis, inflation came in at 0.61%,
after the 0.65% rise in the month before.

Mexican telecommunications giant America Movil is scheduled to hold a call with analysts to
discuss first-quarter earnings.
    
Brazilian motor maker WEG is scheduled to report first-quarter results. Analysts polled by
Refinitiv forecast net income to reach 1.27 billion reais.
    

 (Compiled by Sandhra Mariam Sam in Bengaluru; Edited by Shilpi Majumdar)
 ((SandhraMariam.Sam@thomsonreuters.com;))