What to Watch in the Day Ahead - Tuesday, October 29

Masco

28/10/2024 18:30

(The Day Ahead is an email and PDF publication that includes the day's major stories and
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Alphabet will report results for its third quarter. Investors will be looking for growth in its
advertising search business, AI cloud as well as any commentary about potential cost savings and
capital expenditure from the company's new CFO.   

On the US economic calendar, the Job Openings and Labor Turnover Survey, or JOLTS report, is
expected to show 8 million job openings in September from 8.040 million in August. The
Conference Board's consumer confidence index is expected to show a reading of 99.5 in October
from 98.7 in September. Federal Reserve Bank of Dallas will issue the Texas Service Sector
Outlook Survey for October. (1030/1430). 

McDonald's is set to report a modest revenue rise in its third-quarter results as the burger
chain grapples with weak spending from its low-income customers in the U.S. as well as tepid
sales in China. Investors will look for further clarity on any impact on sales from the recent
E. coli outbreak in some U.S. states and how the management plans to navigate the incident.
Holiday demand forecast and further promotional measures will also be in focus.
    
Visa is poised to report a higher fourth-quarter profit thanks to consumer spending strength.
Investors will closely watch out for commentary on the lower-end customers and spending trends
in APAC.

AMD will report results for its third fiscal quarter. Investors will focus on indications of
end-market demand for the PC industry and traction for AMD's AI data center chips.

Drugmaker Pfizer is expected to report third-quarter results before markets open. Investors will
keenly watch the performance of its cancer drugs acquired through the $43 billion Seagen deal
and any changes to its outlook for COVID products. The focus will also be on comments around
engagement with activist hedgefund Starboard.

Cadbury-parent Mondelez International is expected to post a rise in third-quarter revenue,
helped by steady demand for its confectionery goodies. Investors will look for comments on the
impact from elevated cocoa prices, pricing actions, and impact on demand as well as volume
growth owing to supply chain disruptions.

Chipotle is expected to post a jump in third-quarter revenue after market close on steady demand
for its rice bowls and burritos from its affluent customers. Investors will watch for any change
in strategies with new CEO Scott Boatwright settling in, comments on pricing, menu innovation
and holiday demand forecast.

Incyte is expected to report its Q3 results. Investors are expecting a revision to their
full-year outlook, as well as any further updates on its newly approved drug Niktimvo.

PayPal is expected to report higher third-quarter revenue, boosted by resilient consumer
spending, with analysts and investors focusing on holiday spending outlook and management's
efforts to reduce costs and improve margins. 

Royal Caribbean is expected to post a rise in third-quarter revenue driven by strong customer
demand for cruises and on-board spending on spa and restaurants. Investors will look out for
comments on fuel prices, customer demand for the holiday season and the impact from Hurricane
Milton.

Home improvement firm Masco is expected to post a rise in revenue on consumer demand due to
increased home renovation and decoration projects. Investors will look out for comments on
pricing strategies and updates on the annual outlook.

JetBlue is expected to report a smaller third-quarter loss when it reports its results.
Investors will be looking for comments on the pricing environment and any updates to its
cost-savings program.

Natural gas producer EQT Corp is expected to report a fall in third-quarter profit, hurt by a
deep decline in natural gas prices. Investor focus will be on management's commentary on
production curtailments and commodity prices.

Reddit is scheduled to report its third-quarter financial results. It is expected to report an
11% rise in quarterly revenue sequentially, according to analysts' estimates compiled by LSEG.
Investors will be looking for commentary about how its content licensing and sports deals are
paying off.

Gorilla glass maker Corning is expected to report higher third-quarter revenue, helped by
growing demand for its optical fiber cables, connectors and related hardware.

Barcode scanner maker Zebra Technologies is expected to report higher third-quarter revenue,
driven by a surge in demand for its products in the healthcare sector.

DaVita is expected to report third-quarter results after markets close. Investors are expected
to look out for any impact to dialysis treatment volumes due to a shortage of dialysis solutions
from Hurricane Helene.

On the Canada front, Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn
Rogers are scheduled to appear before the House of Commons Standing Committee on Finance. (1530
/1930)

 (Reporting by Indrishka Bose; Editing by Vijay Kishore)
 ((Indrishka.Bose@thomsonreuters.com;))