What to Watch in the Day Ahead - Thursday, February 8

Kimco Realty

07/02/2024 19:30

(The Day Ahead is an email and PDF publication that includes the day's major stories and
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On the U.S. economic radar, a report from the Labor Department is expected to show initial
claims for state unemployment benefits likely dipped to 220,000 in the week ended Feb. 3,
compared to 224,000 claims in the prior week. The number of people receiving benefits after an
initial week of aid, also known as continued claims, likely declined to 1.878 million in the
week ended Jan. 27 from 1.898 million the week before. Separately, the Commerce Department will
likely show wholesale inventories increased 0.4% in December, maintaining a similar incline in
the prior month. Additionally, wholesale sales are expected to gain 0.2% in December after
remaining flat in November. 

Richmond Fed President Thomas Barkin is scheduled to appear on Bloomberg TV from Richmond,
Virginia. (0830/1330) Separately, he is also expected to speak before the Economic Club of New
York. (1205/1705)

Philip Morris International is scheduled to post a rise in fourth-quarter revenue, helped by
higher pricing of its combustible cigarettes and steady demand for its heated tobacco products.
Investors will look out for comments on demand trends and any forecast the company provides.

Spirit Airlines is expected to announce its fourth-quarter results. Investors will watch out for
the company's plans to refinance its debt and comments on its blocked merger with JetBlue
Airways.

S&P Global is expected to report a jump in its fourth-quarter profit, helped by strong demand
for data and analytics.

NYSE-parent Intercontinental Exchange is expected to report a rise in fourth-quarter profit,
helped by stronger trading volumes. Analysts and investors will watch closely for updates on
mortgage business growth and recovery in initial public offerings.

Image-sharing platform Pinterest is expected to report higher fourth-quarter revenue, driven by
a recovery in the advertising market. Investors will also look for comments on other deals the
company is eyeing besides its growing partnership with e-commerce giant Amazon.com.

Kenvue is expected to report its fourth-quarter results before markets open. The focus will be
on the company's full-year forecast and sales of its skincare products and over-the-counter
medicines.

Ralph Lauren is expected to report a slight increase in its third-quarterly revenue, as demand
for its pricey shirts and sweaters hold up, fueled by the popular "quiet luxury" trend.
Investors will be focused on the company's forecasts, comments on demand, consumer behavior,
trends in China and any signs of impact on business from the conflict in the Middle East.

Under Armour is likely to post a decline in its third-quarter revenue, signalling a hit from
slowing demand mainly in the wholesale segment as consumers cut back on non-essential spending.
Investors will look for comments on holiday season demand, discounts, inventory and lower input
costs.

Hershey is expected to post a rise in fourth-quarter revenue, helped by higher prices and strong
demand for its chocolates and confectionary products during the holiday season. Investors will
eye for comments on demand trends during the holiday season, growth in volumes, any additional
pricing undertaken and the 2024 forecast that the company will provide.

Tapestry is expected to post a small rise in second-quarter revenue, helped by steady demand for
its premium Coach handbags and leather goods. Investors will look for comments on China's
recovery, U.S. demand, and consumer appetite in 2024.

Take-Two Interactive Software is likely to post a drop in third-quarter revenue, hurt by lower
demand for its titles amid muted gaming spending.

Harley Davidson is expected to report a fall in its fourth-quarter profit as high borrowing cost
keeps discretionary spending in check. Investors will look for the full-year outlook and
comments on the demand environment.

Kimco Realty Corp is expected to post a rise in the fourth-quarter revenue, benefiting from
robust demand from a diverse set of retailers and higher leasing volumes. Investors will look
for comments on occupancy, higher costs and annual forecasts.

ConocoPhillips is likely to report a fall in its fourth-quarter profit, hurt by lower commodity
prices. Investors would be looking forward to any commentary on potential acquisitions and
demand.

Home-building products maker Masco is expected to post a decline in fourth-quarter revenue,
owing to weaker demand for its plumbing and architectural products, including paints. Investors
will look for comments on demand, pricing action, sales and profit forecast.

Baxter is scheduled to report its fourth-quarter results. Investors will focus on the company's
2024 forecast and the sales of its dialysis products and infusion pumps.

Motorola Solutions is expected to report a rise in fourth-quarter revenue and profit.

Regency Centers is expected to post a rise in fourth-quarter revenue as the commercial REIT
benefits from strong leasing demand at its grocery-anchored shopping centres.

Business jet maker Bombardier is expected to report higher fourth-quarter revenue, helped by a
rise in deliveries due to sustained demand for private planes.

Thomson Reuters is scheduled to report its fourth-quarter results. 

Mexican bottler Arca Continental is likely to report fourth-quarter results and full-year
earnings before market opening. 

In Latin America's largest economy, inflation in Brazil, as measured by the IPCA inflation
index, is due for release. The country's inflation index likely rose 0.34% in January after
rising 0.56% in December. On an annual basis, the IPCA inflation index is expected to grow 4.42%
in December. Separately, the Bank of Mexico will likely leave its benchmark interest rate
unchanged at 11.25%. Adding on, Mexico's inflation, producer price index (PPI) and consumer
price index (CPI) data for January is scheduled for the day. The country's headline inflation
will likely hit 0.88% in January after touching 0.71% the month before. In the twelve months
through January, the inflation is expected to be 4.88%. The so-called core inflation is likely
to show a reading of 0.37% in January after rising 0.44% in December. On an annual basis, core
inflation in January will likely advance 4.72%. Meanwhile, Peru's central bank is expected to
cut its benchmark interest rate by 25 basis points to 6.25%. Lastly, inflation numbers in Chile
for January likely rose 0.40%, following the drop of 0.5% in the previous month. 


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