What to Watch in the Day Ahead - Tuesday, Aug. 1

Gartner

31/07/2023 19:30

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On the U.S. economic calendar, the Institute for Supply Management (ISM) is expected to report
manufacturing PMI likely rose to 46.8 in July from 46.0 in the previous month. Separately, the
Labor Department is scheduled to release its Job Openings and Labor Turnover Survey, or JOLTS
report, for June. The report is likely to show 9.610 million job openings in June, down from
9.824 million in the previous month. In another report, the Commerce Department is expected to
show construction spending likely rose 0.6% in June, after gaining 0.9% in May. Also, S&P Global
is scheduled to release the final reading of the manufacturing PMI index for July.

U.S. drugmaker Pfizer Inc will report second-quarter earnings before markets open. Investors
will watch out for COVID-19 products sales during the quarter and any changes to the company's
full-year outlook. Focus will also be on any updates about the Seagen deal and upcoming product
launches.

Caterpillar Inc is expected to report a rise in second-quarter profit and estimates on the back
of higher sales for construction equipment and commercial customer spending despite the impact
of higher costs.

Starbucks Corp is expected to report a rise in third-quarter same-store sales, powered by steady
demand for its pricey coffees from its affluent customer base. Investors, however, will be
focused on the company's outlook and its comments on trends in China, as well as details on
margins and cost inflation.

Uber Technologies Inc is scheduled to report second-quarter results. Analysts expect a 16% rise
in second-quarter revenue boosted by strong demand for its diversified services and higher
ride-hailing prices.

Chip designer Advanced Micro Devices Inc is expected to report a fall in second-quarter revenue,
hurt by weak cloud demand.

Marriott International Inc is expected to post a rise in second-quarter profit and revenue as
the U.S. hotel operator benefits from strong travel demand.

JetBlue Airways Corp is expected to report a profit in the second quarter compared with a
year-ago loss on the back of strong travel demand. Investors will be looking for comments on
travel demand, on the airline's now-scrapped Northeast Alliance with American Airlines, and its
planned acquisition of Spirit Airlines.

Merck & Co Inc is scheduled to report its second-quarter earnings. Investor focus is expected to
be on sales of cancer immunotherapy Keytruda and human papillomavirus vaccine Gardasil.

Federal Reserve Bank of Chicago is expected to release pre-recorded welcome remarks of Federal
Reserve Bank of Chicago President Austan Goolsbee before the Federal Reserve Bank of Chicago
Business Smart Week event. (1000/1400)

Electronic Arts Inc is expected to report a rise in revenue in the first quarter on strong
performance of its latest title "Star Wars Jedi: Survivor".

Norwegian Cruise Line Holdings Ltd is expected to report a rise in second-quarter revenue,
benefiting from higher ticket prices and pent-up demand as customers shift to spending more on
experiences. Investors will be eyeing for updates on demand trends, impact from inflation and
fuel prices on margins and any forecast that the company provides.

Marathon Petroleum Corp is expected to show a fall in quarterly profit when it reports its
second-quarter results. Analysts will look at refining margins and updates on gasoline demand
outlook.

Altria Group Inc is expected to post a fall in second-quarter revenue as consumers shift to
cheaper cigarettes and smoke-less and e-cigarette alternatives gain market share. Investors will
be on the lookout for comment on the impact of high input costs on margins, and the company's
pricing strategy.

Image-sharing platform Pinterest Inc is expected to report higher second-quarter revenue
compared with $665.9 million a year ago as the advertising spend environment in retail and
consumer packaged goods is stabilizing.

VF Corp is expected to post a fall in first-quarter revenue, hurt by slowing demand in North
America as high inflation forces customers to curb discretionary spend. Investors will look for
comments on demand for Vans and Timberland brands, easing costs, price hikes and demand recovery
in China.

Fertilizer maker Mosaic Co's second-quarter profit is expected to tumble compared to last year
as prices of fertilizers have eased due to an improvement in global supplies and less demand.

U.S. oil producer Devon Energy Corp is expected to report a slump in second-quarter profit as
commodity prices have scaled back compared to last year. Investors would be looking forward to
their commentary on demand and rig count for the second half of this year.

Vertex Pharmaceuticals Inc is set to report second-quarter results after markets close.
Investors will focus on sales of the drugmaker's cystic fibrosis drug, Trikafta, as well as
commentary on full year outlook.

Solar inverter maker SolarEdge Technologies Inc is expected to post higher second-quarter
earnings, backed by strong demand from Europe. Investors would look forward to see how demand
would shape up for rest of the year.

IQVIA Holdings Inc will report its second-quarter earnings before markets open. Investors are
likely to focus on any change in the contract research firms annual profit forecasts amid
biotech funding weakness. Investors will also lookout for its R&D bookings performance after a
slowdown in new bookings in the first quarter.

Gartner Inc is expected to report a 7.5% rise in second-quarter revenue as consulting services
have seen strong demand due to economic uncertainty.

Steris Plc is set to report first-quarter earnings after markets close. Investors will pay close
attention to the medical equipment provider's quarterly sales and commentary on full year
forecast.

Paycom Software Inc is expected to report a 25% rise in second-quarter revenue as stable labour
demand boosts demand.

S&P Global is scheduled to report Canada manufacturing PMI data for July. The country's PMI rose
to 48.8 in the previous month.

Brazil's statistics agency IBGE is scheduled to release the industrial output data for June. The
country's industrial output is expected to dip 0.1% in June, after rising 0.3% in the previous
month. S&P Global Manufacturing PMI for July is also scheduled for release.

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 (Compiled by Kumar Satyam; Edited by Shilpi Majumdar)
 ((Kumar.Satyam@thomsonreuters.com;))