What to Watch in the Week Ahead and on Monday, May 9

Oil States International

06/05/2022 19:30

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ON MONDAY

Theater operator AMC Entertainment Holdings Inc is expected to post almost a four-fold rise in
first-quarter revenue, recovering from pandemic lows. Investors will look for information on
potential deals the world's largest chain is planning to ink, after CEO Adam Aron hinted at it.

Lordstown Motors Corp is expected to post higher losses in the first quarter compared to a year
earlier, as costs to make its electric commercial vehicles rise. Investors will also be looking
for updates on Foxconn's asset purchase agreement with the company and information on its
production timelines.

A federal judge will preside over a non-jury trial to determine how much pharmacy chain
operators CVS Health Corp, Walgreens Boots Alliance Inc and Walmart Inc should have to pay two
Ohio counties for helping fuel an opioid epidemic in their communities. A federal jury last year
found the companies helped cause a public nuisance in Ohio's Lake and Trumbull counties, which
are seeking more than $1 billion each. The trial is before U.S. District Judge Dan Polster in
Cleveland.

U.S. wholesale inventories are expected to rise 2.3% in March, similar to February's reading.
The wholesale sales data is also due.

Atlanta Fed President Raphael Bostic makes welcome remarks before the bank's Financial Markets
Conference, in Fernandina Beach, Florida. (0845/1245)
    
Coty Inc is expected to post a rise in third-quarter revenue, helped by strong demand for it its
skin care and fragrance products. Investors will look out for comments on make-up sales recovery
and supply chain disruptions as well as the impact of coronavirus-related restrictions in China
and Russia’s invasion of Ukraine on the company’s sales.

Novavax Inc is slated to report its first-quarter results and business updates, with investors
focusing on any regulatory or clinical updates on its COVID vaccine.

A week-long trial is expected to begin on claims that real-estate website Redfin infringes
patents covering 3D home-rendering technology for online tours. The patents are owned by
Surefield Ltd, which was created by Redfin co-founder David Eraker.

Data on Canada's building permits for March is scheduled to release. The value of permits rose
21.0% in February from January.

Mexico's statistics agency is scheduled to release data on consumer price inflation for April.


REST OF THE WEEK 

U.S. consumer price index (CPI), on Wednesday, is expected to have risen 0.2% in April, after
jumping 1.2% in March to its biggest monthly gain since September 2005. On a yearly basis, the
CPI is expected to have advanced 8.1% in April, after gaining 8.5% in March. Meanwhile, the core
CPI is likely to have increased 0.4% in April, after rising 0.3% in the month before. In the 12
months through April, the core CPI is likely to have gained 6%, following a 6.5% rise in the
previous month. On Thursday, initial claims for state unemployment benefits are expected to have
increased by 3,000 to a seasonally adjusted 203,000 for the week ended May 7. On the same day,
the producer price index (PPI) for final demand is expected to have increased 0.5% in April
after gaining 1.4% in March. The PPI is expected to have risen 10.7% in the 12 months through
April after a 11.2% gain in March. Excluding the volatile food, energy and trade services
components, producer prices are likely to have risen 0.6% in April, compared with a 1% gain in
March. On a year-on-year basis, excluding the volatile food, energy and trade services
components, producer prices are likely to have gained 8.9% in April. The University of
Michigan's final consumer sentiment index, due on Friday, is expected to show a reading of 63.6
in May, compared with 65.2 in the month earlier. Import and export prices are also due on the
same day.

Federal Reserve Bank of New York releases first-quarter 2022 Household Debt and Credit Report on
Tuesday, an updated snapshot of household trends in borrowing and indebtedness, including data
about mortgages, student loans, credit cards and auto loans. On the same day, Federal Reserve
Bank of New York President John Williams gives keynote remarks at NABE/Bundesbank International
Economic Symposium organized by National Association for Business Economics (NABE) and Deutsche
Bundesbank in Eltville am Rhein, Germany. Meanwhile, Federal Reserve Bank of Atlanta President
Raphael Bostic gives introductory remarks and moderates a conversation before the Federal
Reserve Bank of Atlanta Financial Markets Conference, in Fernandina Beach, Florida and Federal
Reserve Bank of Atlanta President Raphael Bostic participates in moderated dinner conversation,
"Monetary Policy and the Economy" before the Federal Reserve Bank of Atlanta Financial Markets
Conference, in Fernandina Beach, Florida. Separately on Tuesday, Federal Reserve Bank of
Richmond President Thomas Barkin speaks on "Why We Care About Inflation" before the Cecil County
Chamber of Commerce, in North East, Maryland. Federal Reserve Bank of Minneapolis President Neel
Kashkari moderates an Economic Club of Minnesota conversation with Federal Reserve Governor
Christopher Waller on the economy, in Minneapolis, Minnesota. On the same day, Federal Reserve
Bank of Cleveland President Loretta Mester participates in "Session 4: "Monetary Policy and
Financial Stability Challenges During Balance Sheet Normalization" before the Federal Reserve
Bank of Atlanta Financial Markets Conference, in Fernandina Beach, Florida. On Wednesday,
Federal Reserve Bank of Atlanta President Raphael Bostic speaks on "An Update from the Atlanta
Fed: Economic Outlook and Monetary Policy" and participates in a moderated conversation before
the World Affairs Council of Jacksonville, in Jacksonville, Florida. Federal Reserve Bank of San
Francisco President Mary Daly participates in fireside chat moderated by former San Francisco
Fed Seattle Branch Director Sophie Minich in Anchorage, Alaska on Thursday. Federal Reserve Bank
of Minneapolis President Neel Kashkari speaks in a virtual event on Friday about energy prices
and their influence on inflation. Other speakers include Occidental Petroleum Chief Executive
Vicki Hollub and Oil States International Inc Chief Executive Cindy Taylor.

On Wednesday, Walt Disney Co is expected to post a rise in second-quarter revenue, benefiting
from more streaming sign-ups and recovery in theme parks. Investors and analysts will look out
for the company's outlook for streaming given competing platforms have indicated slowing growth
and subscriber losses.

On Wednesday, Alphabet Inc's Google I/O, the company's annual developer conference, gets
underway virtually with announcements expected about new products and services. Separately, on
Tuesday, Intel Corp has two day virtual and in person Vision event in Texas with keynote of Pat
Gelsinger and some product launches.

On Tuesday, Electronic Arts Inc is expected to show a rise in fourth-quarter revenue driven by
resilient demand for its popular games such as "Apex Legends" and "FIFA". 

Wall Street expects Rivian Automotive Inc's first-quarter revenue to rise from the fourth
quarter, on Wednesday, as the company ramps up production of the R1T pickup truck, R1S SUV and
its electric delivery van for investor and customer Amazon.com Inc.

Coinbase Global Inc is scheduled to report a fall in revenue and profit for the first quarter on
Tuesday and the cryptocurrency exchange is expected to provide an update on its issues with bank
transfers for some customers in the United States. 

JBS SA, the world's biggest meatpacker, will release first-quarter results on Wednesday.
Management will host a call with investors and analysts on the following day to review financial
performance.

Beyond Meat Inc is likely to post an increase in first-quarter revenue on Wednesday, helped by
an increase in sales to U.S. fast food chains. Investors will be on the lookout for potential
revisions to 2022 outlook and the plant-based meat maker's comments on current levels of demand
and costs amid high inflation.

Peloton Interactive Inc is expected to post a wider loss in the fourth quarter on Tuesday as the
fitness equipment maker sees a slump in demand as people return to gyms. Investors will be
looking for commentaries on forecast for the year and growth of connected fitness subscribers.

On Wednesday, Bumble Inc is expected to show a rise in first-quarter revenue driven by continued
demand for its dating apps, as well as a surge in paid subscribers.

Tapestry Inc is expected to post a rise in third-quarter revenue on Thursday, helped by price
increases and strong demand for its brands Coach and Kate Spade in the United States and Europe.
Investors will look out for comments on product shortages due to supply chain disruptions and
impact of store closures in China due to a rise in COVID-19 infections.

On Friday, U.S. President Joe Biden is scheduled to host leaders of the Association of Southeast
Asian Nations (ASEAN) at a summit in Washington D.C.

Sun Life Financial Inc reports first-quarter results on Wednesday, the same day the company is
scheduled to have their annual shareholder meeting. Manulife Financial Corp also reports its
first-quarter results on the same day.

Toni Gravelle, a deputy governor at the Bank of Canada, is scheduled to speak to the Association
des economistes quebecois on the topic of commodities, growth and inflation on Thursday.

Mexico's central bank is expected to release its interest rate decision on Thursday. The
country's industrial output data is also due on the same day. Brazil's retail sales data is due
on Tuesday.

 (Compiled by Kumar Satyam; Editing by Shailesh Kuber)
 ((Kumar.Satyam@thomsonreuters.com;))