What to Watch in the Day Ahead - Tuesday, February 6

Gartner

05/02/2024 19:30

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Ford Motor is expected to report lower fourth-quarter results after the New York markets close,
reflecting in part a $1.6 billion hit from the costs of last fall's United Auto Workers union
strikes. Ford, in November, forecasted $10 billion to $10.5 billion in adjusted pre-tax profit
for all of 2023. 

Eli Lilly is likely to report its fourth-quarter results before markets open. Investors will
closely watch the performance of its weight-loss drug Zepbound, which recently received
regulatory approvals in Europe, the UK and the US. The focus will be on the drugmaker's 2024
sales and profit forecast and its plans to ramp up supply for its top-selling diabetes drugs,
Mounjaro and Zepbound.

Aerospace supplier Spirit AeroSystems is scheduled to release its fourth-quarter results on the
heels of a mid-air cabin panel blowout that resulted in the grounding of the Boeing 737 MAX 9
fleet.

The new head of the Federal Aviation Administration is scheduled to appear before Congress as
the agency faces questions on its oversight of planemaker Boeing following the emergency landing
on Jan. 5 of a 737 MAX 9. Mike Whitaker, who took over as the agency's head in late October,
testifies before the U.S. House Transportation and Infrastructure Committee, sources say.

Cleveland Fed President Loretta Mester is expected to speak on the economic outlook before the
Ohio Bankers League Economic Summit in Columbus, Ohio. (1200/1700) Meanwhile, Minneapolis Fed
President Neel Kashkari will likely participate in a question-and-answer session as part of a
Greater Mankato Growth luncheon at Mankato, Minneapolis. (1300/1800) On the same day, Boston Fed
President Susan Collins is scheduled to give opening and overview remarks before the "Uneven
Outcomes in the Labor Market" virtual conference hosted by the Federal Reserve Board of
Governors and the Federal Reserve Banks of Atlanta, Boston, Cleveland, Philadelphia, San
Francisco, and St. Louis, at Boston, Massachusetts (1400/1900) Lastly, Philadelphia Fed
President Patrick Harker is likely to speak on "The Federal Reserve's Role in Our Economy"
before a Rowan Institute for Public Policy & Citizenship event, at Glassboro, New Jersey
(1900/0000)

Spotify, the Swedish music streaming company, is expected to report higher fourth-quarter
earnings, helped by higher subscriber additions and cost cuts.

Chipotle Mexican Grill will likely post a jump in its fourth-quarter sales as the burrito chain
continues to draw its affluent customer base despite inflationary pressures. The company's
outlook, comments on consumer behavior and promotions will be at the top of investors' minds.

VF Corp is expected to post a fall in third-quarter revenue as the company struggles to rekindle
demand for its iconic brands, such as Vans and The North Face. Investors will look for comments
on sales during the crucial holiday season and any cost reduction strategies.
    
DuPont de Nemours is expected to report a fall in fourth-quarter revenue as declining demand in
key markets hit top-line results.    

GE HealthCare is expected to report its fourth-quarter results. Investor's focus is expected to
be on demand for its medical devices like imaging equipment. Separately, Edwards Lifesciences is
set to report its fourth-quarter results after markets close. The focus will be on the medical
device maker's 2024 outlook, its quarterly execution amid a rise in surgical procedures volumes,
and likely on sales performance from the company's artificial heart valves. Additionally, Waters
Corp is set to report fourth-quarter results before markets open. The focus will be on the
annual forecast and comments on spending by biotech clients.

Centene is expected to report fourth-quarter results before markets open. Investors will be
looking for comments regarding medical costs for the insurer and performance in its Medicaid
insurance business. They will also watch out for any updates to the FY 2024 earnings outlook. 

Cognizant is expected to report a drop in its revenue but higher profit in the fourth quarter.
Investors will watch its forecast to asses IT outsourcing demand.

Gartner is expected to grow in revenue in the fourth quarter, benefiting from stable demand for
its research and consulting services.

Insurer Prudential Financial is expected to post a rise in its fourth-quarter profit on higher
net premiums and net investment income.

Atmos Energy is expected to post a rise in first-quarter profit, helped by higher rates and
consumer growth.

Willis Towers Watson is expected to report a jump in fourth-quarter profit, helped by robust
demand for its broking and consulting services.

On the Canadian economic front, Ivey Purchasing Managers Index (PMI) data for January is
scheduled for release. Meanwhile, Canadian building permit numbers are scheduled to gain 1.8% in
December after dropping 3.9% the month before.

From Latin America's largest economy, inflation in Brazil, as measured by the IGP-DI price index
for January, is due for release. Separately, Argentina's government statistics agency, INDEC, is
likely to release the country's industrial output for December.


 (Compiled by Sandhra Sam in Bengaluru; Editing by Tasim Zahid)
 ((SandhraMariam.Sam@thomsonreuters.com;))