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BIIB - Biogen Inc News Story

$278.16 6.0  2.2%

Last Trade - 2:56pm

Sector
Healthcare
Size
Large Cap
Market Cap £29.50bn
Enterprise Value £32.90bn
Revenue £9.08bn
Position in Universe 312th / 6854

What to Watch in the Week Ahead and on Monday, April 19

Fri 16th April, 2021 7:35pm
(The Day Ahead is an email and PDF publication that includes the day's major stories and
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ON MONDAY 

Coca-Cola Co is expected to show a drop in first-quarter profit. The company's comments on sales
and profit recovery as economies reopen with vaccine distribution speeding up and COVID-19
restrictions easing will be in focus.

International Business Machines Corp is expected to post a marginal decline in first-quarter
revenue due to slowing software sales and seasonal demand for its mainframe servers just as the
109-year-old firm is tightening up its business to focus on its cloud offerings.

United Airlines Holdings Inc is due to post first-quarter results after the market closes, with
focus on the strength of a travel recovery after a deep hit to demand over the past year due to
the pandemic.

The first opioid trial since the COVID-19 pandemic began is scheduled to begin in California,
over claims brought by several large California counties, including Santa Clara and Los Angeles,
against drugmakers Johnson & Johnson, Teva Pharmaceutical Industries Ltd, Allergan Plc and Endo
International PLC. The non-jury trial is being held virtually due to safety concerns. As in
other cases brought by local governments around the country, the plaintiffs are seeking to hold
the drugmakers liable for the costs of combating the opioid epidemic. More than 3,400 cases are
pending against opioid manufacturers and distributors, pharmacies and pharmacy benefit managers.

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REST OF THE WEEK

Johnson & Johnson is expected to report first-quarter earnings on Tuesday, a week after U.S.
health agencies recommended pausing the use of its single-dose COVID-19 vaccine over rare blood
clots in some vaccine recipients. Investors will look out for details on the company's
discussions with regulators on the pause and plans to ramp up the manufacturing of the shot. 

Oilfield giant Schlumberger NV is anticipated to report lower first-quarter earnings on Friday
versus the previous quarter as the pandemic continues to weigh on the oilfield services sector.
Analysts will be on the lookout for signs that pricing and activity in the oilfield sector are
improving. The company is also anticipated to discuss its New Energy business unit and how it is
positioning itself for energy transition. Halliburton Co is set to report lower profit for the
first quarter from the previous three months on Wednesday, mainly due to the Texas winter storm
that hurt oilfield activity and due to persistent COVID-19-related weakness in some
international markets. Analysts and investors are expected to focus on international recovery
and comments on energy transition. Energy company Baker Hughes Co is also expected to report its
first-quarter earnings on Wednesday.

Netflix Inc, whose shares soared due to demand during the pandemic, will report first-quarter
earnings on Tuesday after the market closes.

On the economic calendar, Labor Department is expected to report initial jobless claims data on
Thursday. On the same day, a report from the National Association of Realtors is scheduled to
show existing home sales likely edged down to 6.18 million units in March, from 6.22 million
units in February. A Commerce Department report on Friday is expected to show new home sales
likely rose to 885,000 units in March, from 775,000 in February. A survey from HIS Markit,
scheduled for release on Friday is expected to show its flash U.S. manufacturing PMI likely
increased to a reading of 60.5 in the first half of April, from a final reading of 59.1 in
March. The flash U.S. services PMI likely rose to 61.7 in the first half of April, from a final
reading of 60.4 in March. 

Intel Corp is expected to post a drop in first-quarter revenue on Thursday as it loses market
share to rivals like Advanced Micro Devices, which makes smaller and faster chips. Analysts will
look out for commentary on its U.S. manufacturing plants and chips for automakers amid a global
microchip supply shortage.

Southwest Airlines Co and American Airlines Group Inc are expected to post lower first-quarter
revenue on Thursday, hurt by a sharp slump in bookings due to the coronavirus crisis. Investors
will look for comments on the airlines' expectations for summer travel as vaccination rates
rise.

AT&T Inc is expected to post a marginal decline in first-quarter revenue on Thursday. Its
Warnermedia segment, however, is anticipated to be a bright spot. The U.S. wireless carrier has
invested heavily to break into the streaming video market dominated by Netflix and Disney+ and
last month said it expects up to 150 million global subscribers for its video services HBO Max
and HBO and $15 billion in revenue for the businesses by the end of 2025. Verizon Communications
Inc is expected to post a rise in first-quarter revenue. Investors will be looking at the
monthly bill-paying phone subscribers metric as the wireless carrier faces competition from
T-Mobile US Inc and AT&T Inc. Rogers Communications Inc is expected to report a fall in
first-quarter revenue on Wednesday due to lower demand for its wireless services amid the
ongoing pandemic. Investors will be looking forward to Roger's remarks on any regulatory hurdles
it faces related to its bid to buy Shaw Communications for about C$20 billion.

Procter & Gamble Co is expected to post a rise in third-quarter sales and profit on Tuesday, on
the back of sustained demand for home care and cleaning products. Investors will keep a close
watch for comments on how long the company expects demand to stay at elevated levels and if the
roll out of vaccines and a reopening economy is slowing growth.

Blackstone Group Inc, the world's largest private equity firm, reports its first-quarter
earnings on Thursday amid strong dealmaking and higher corporate valuations buoyed by the
roll-out of COVID-19 vaccines.

American Express Co is expected to report first-quarter earnings on Friday. The company is
expected to post a rise in quarterly profit as the infusion of a $1.9 trillion economic stimulus
into the economy is likely to drive up consumer spending and consequently benefit Amex's credit
card business.

U.S. Treasury Secretary Janet Yellen is expected to underscore the importance of sustainable
finance at a conference hosted by the Institute for International Finance on Wednesday. This
will also be on the eve of President Joe Biden hosting the Leaders Summit on Climate Change on
Thursday and Friday.

On Wednesday, Tiff Macklem, governor of the Bank of Canada, will give a press conference
following a scheduled rate decision and the release of the spring Monetary Policy Report. On the
same day, Statistics Canada data is expected to show the country's annual inflation rate likely
rose 2.3% in March, following a 1.1% increase in February. 

Biogen Inc is set to report first-quarter 2021 results on Thursday, when investors will look for
the impact of generic competition on drug sales especially top selling drugs, Tecfidera and
Spinraza. Focus will also be on comments from the company regarding its Alzheimer's drug,
aducanumab, and its 2021 forecast.

Harley Davidson Inc is expected to report higher first-quarter profit on Tuesday. Investors will
look for an update on the progress the motorcycle maker has made in implementing its strategic
turnaround plan.

U.S. insurer the Travelers Companies Inc is set to report its first-quarter 2021 on Tuesday
before markets open. Investors want to know the extent to which rising commercial property
insurance rates across the industry may offset slowing COVID-19 losses. A call between
executives and analysts will follow.

Lockheed Martin Corp is expected to report higher first-quarter profit and revenue on Tuesday,
helped by higher sales of its F-35 fighter jets. Investors will look for an update on it
full-year financial outlook. Honeywell International Inc, the U.S. aero parts maker, is expected
to post a decline in first-quarter profit as sales in its main aerospace business bear the brunt
of the COVID-19 crisis. Investors will be looking for a comment on the outlook and impact of
Boeing's 737 MAX return.

Medical device maker Abbott Laboratories Inc is set to report its first-quarter results on
Tuesday, when investors will watch for the company's comments on demand for its COVID-19 tests
as cases show signs of declining amid U.S. vaccination efforts. The focus will also be on the
company's full-year performance targets. Quest Diagnostics Inc is expected to post first-quarter
results on Thursday before the bell. Investor focus is expected to be on the recovery trend of
non-COVID-19 business, revenues from COVID-19 testing and the company's full-year outlook.

CSX Corp and Union Pacific Corp are expected to report lower first-quarter revenue and profit on
Tuesday and Thursday, respectively, partly due to fewer automotive shipments, which have been
hit by a global chip shortage. Investors will look for an update on their full-year financial
outlooks. On Wednesday, Canadian Pacific Railway Ltd is expected to post a decline in its
first-quarter revenue and profit, as volumes remain low compared to levels seen in early last
year and as the North American deep freeze hurt operations. Investors will be looking for any
updates on its deal with Kansas City Southern.

U.S. health insurer Anthem Inc is set to report its first-quarter results on Wednesday. Investor
focus will be on the company's comments on healthcare activity trends during the first three
months of the year, during which the U.S. saw a decline in COVID-19 cases helped by vaccination
efforts. Any updates to the company's full-year profit targets will also be on investors' radar.

Exchange operator Nasdaq Inc will report first-quarter results on Wednesday. The company is
expected to post a jump in quarterly profit, driven by high volatility in the markets fueled by
the COVID-19 pandemic. The New York-based firm is expected to benefit from a surge in its
trading volumes, especially against the backdrop of a jump in participation from retail traders.

Burrito chain Chipotle Mexican Grill Inc is expected to report a bumper first quarter on
Wednesday helped by price increases and consumers ordering its fresh food, new quesadillas and
cauliflower rice online. The company also laps a year of shutting dine-in or limited store
operations brought upon by lockdowns during the peak of the COVID-19 pandemic. Comments on
reopening and expansion as vaccine drives speed up and restrictions ease will be in focus.

Dow Inc is expected to report a rise in first-quarter profit on Thursday, as demand for its
chemicals used in food packaging for as well as those in furniture, mattresses, appliances and
do-it-yourself paint coatings soar. Analysts will also look for comments on operation impacts
from the winter storm that swept through central and southern U.S. states, disrupting power and
gas supply.

D.R. Horton Inc, the No.1 U.S. homebuilder, is expected to report higher second-quarter profit
and revenue on Thursday, helped by robust demand for new homes during the COVID-19 pandemic.
Investors will look for an update on its full-year financial outlook.

U.S refiner Valero Energy Corp is expected to post wider first-quarter loss on Thursday as its
operations took a hard hit by the severe winter storm in Texas in February. Investors and
analysts will look out for comments on demand recovery and normalization as well as Valero's
refinery utilization guidance.

Mattel Inc is expected to post an increase in first-quarter revenue on Thursday, as parents buy
more toys to keep their children entertained while spending more time at home. Investors will
look out for comments on shipment delays following congestion at major seaports on the U.S. West
Coast.

Freeport-McMoRan Inc is expected to report better-than-expected first-quarter results on
Thursday, helped by higher copper prices. Investors and analysts will also be look for details
on U.S. expansions as the company looks to capitalize on surging demand for the red metal as
President Joe Biden moves to electrify the nation's automobiles and combat climate change.

Mexico's national statistics agency is expected to release inflation and jobs data on Thursday,
followed by retail sales data on Friday. Argentina's trade balance data is also expected on
Thursday.
    

 (Compiled by Nachiket Tekawade in Bengaluru; Editing by Amy Caren Daniel)
 ((Nachiket.Tekawade@thomsonreuters.com;))
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