What to Watch in the Day Ahead - Tuesday, October 24

Robert Half

23/10/2023 19:30

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Microsoft is expected to report a nearly 9% growth in its fiscal first-quarter revenue that
could signal stabilization of its business, which primarily caters to enterprises. Analysts will
pay close attention to its comments on demand, how its new AI offerings are supporting revenue
growth and updates on the recently closed acquisition of Activision Blizzard.

Alphabet is expected to report a 10% jump in third-quarter revenue thanks to a modest rebound in
advertising spending and increasing use of cloud services.

Coca-Cola is likely to report a jump in third-quarter sales as demand for its sugary sodas and
beverages shows no signs of easing despite multiple price increases. The company's forecasts,
comments on the potential impact of weight-loss drugs and plans for further pricing will be at
the top of investors' minds.

S&P Global is expected to say its flash manufacturing PMI ticked lower to 49.5 in October from
49.8 in September. Its flash services PMI likely edged lower to 49.8 in October from 50.1 in
September.

Visa is scheduled to report its fourth-quarter earnings. Investors will analyze the spending
trends to watch out for any sign of a slowdown as the impact of the Fed's rate hikes flows
through.

Texas Instruments is expected to report a decline in third-quarter revenue as demand trends in
key markets like industrial worsened.

3M is expected to post a fall in third-quarter profit, hurt by weakness in its electronics and
consumer segments and litigation costs. Investors will seek comments on litigation costs and its
Healthcare business spin-off.

General Motors is scheduled to report third-quarter results amid a US strike by the United Auto
Workers union that has cost it millions of dollars.

General Electric is expected to report lower third-quarter profit. The focus will be on the
supply-chain challenges in its aerospace business and the pace of recovery at its renewables
unit.

Verizon is expected to report third-quarter results. Investors will focus on wireless subscriber
growth at the carrier as it faces tough competition in the telecom industry.

Quest Diagnostics is set to report its third-quarter results before markets open. Investors will
focus on the company's quarterly sales and full-year outlook.

Health insurer Centene is set to report third-quarter results before markets open. Investors
will look for quarterly performance amid the company's recent efforts to lower costs and any
change in its annual profit forecast amid major revenue loss from falling Medicaid memberships.

Danaher is expected to report its third-quarter earnings. Investor focus will likely be on the
impact of the biotech funding crunch and soft demand in China.

Global grains trader Archer-Daniels-Midland will release third-quarter results after raising
full-year earnings guidance in July following a strong first half. Investors will keep an eye
out for updates on oilseed processing and ethanol margins that have supported the agribusiness
sector and whether grain shipping delays due to low river conditions in the US could impact
ADM's crop exports.

Halliburton is set to report third-quarter results before markets open. Investors will focus on
drilling activity in North America and the impact of inflationary pressures and rising borrowing
costs on the oilfield services firm's performance. 

HCA Healthcare is scheduled to report its third-quarter earnings. Investor focus is expected to
be on the hospital operator's management commentary about the volume of procedures post-pandemic
and staff shortages.

Corning will report third-quarter results. Investors will look for demand indicators for the
smartphone market.

The Federal Reserve and Federal Deposit Insurance Corporation (FDIC) will finalize a rule that
requires lenders to extend credit to lower-income communities. The FDIC will also propose a rule
on climate risks on the same day. 

Kimberly-Clark is expected to post a rise in third-quarter revenue on strong demand for its
personal and home care goods, such as Kleenex tissues, even as inflation squeezes household
demand. Like its fellow consumer goods companies, Kimberly-Clark's pricing actions will be in
focus as supply-chain woes ease.

Real estate information provider CoStar Group is expected to post an increase in its
third-quarter revenue, helped by a surge in traffic on its websites opting for
subscription-based services.

F5 is expected to report a rise in fourth-quarter revenue. Investors will be looking out for
commentary on the demand environment and the company's outlook for coming quarters.

Robert Half is expected to report a fall in third-quarter results amid a tough macro environment
and a tight labor market.

The International Energy Agency (IEA) is expected to unveil its long-term expectations for oil
and gas demand and supply as the world attempts to transition away from fossil fuels to power
its energy needs. The Paris-based agency recently predicted oil demand would peak this decade,
in contrast to other forecasters like OPEC that raised its world oil demand forecasts for the
medium and long term earlier this month.

Data from Mexico's national statistics agency INEGI is expected to say headline inflation for
the economy likely hit 4.39% in the 12 months through early October, down from 4.44% at the end
of September. 

Argentina's official statistics agency is scheduled to report economic activity likely fell 2.2%
in August from a year earlier, compared to a 1.3% drop in July.


 (Compiled by Nachiket Tekawade in Bengaluru; Editing by Tasim Zahid)
 ((Nachiket.Tekawade@thomsonreuters.com;))