Reuters Insider - U.S. Week Ahead: Profit seen falling at Procter & Gamble
21/01/2019 03:22
Click the following link to watch video: https://share.insider.thomsonreuters.com/link?entryId=0_g8hmwriv&referenceId=0_g8hmwriv&pageId=ReutersNews Source: Reuters Insider Description: Dow component Procter & Gamble reports before the market opens Wednesday. Analysts expecting sales and earnings to fall. Intel and Starbucks also release quarterly numbers. Short Link: https://reut.rs/2Hn0ZJx Video Transcript: Earnings remain in the spotlight during the holiday-shortened week. Markets are closed Monday for the Martin Luther King holiday. First up, Starbucks reports Thursday after the market closes. Goldman Sachs cut the stock to neutral from buy earlier this month on concerns about its business in China including same store sales. That followed an announcement from smaller Chinese rival Luckin which said it may open 2,500 new locations this year. Shares have risen 6% over the past year. Next, to the semiconductor industry. Intel reports after the closing bell Thursday as well. The chip company got a boost from BofA Merrill two weeks ago, which upgraded shares to buy from neutral. The bank called Intel "a compelling large cap investment that should benefit from advances in cloud computing, artificial intelligence, and autonomous cars". The stock has returned 10% over the past year. And Procter & Gamble puts out its quarterly update before the market opens on Wednesday. Analysts looking for a slight decline in sales and profit, hurt by weak demand for its baby, feminine and family care products. The company has been raising prices of certain items to make up for higher commodity costs. Shares are flat over the past year. I'm Leah Duncan, and this is Reuters