What to Watch in the Day Ahead - Thursday, May 9

Solventum

08/05/2024 19:36

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Warner Bros Discovery is expected to report a fall in first-quarter revenue weighed down by a
weak advertising market.
The U.S. Labor Department’s weekly jobless claims data will likely show that initial claims for
state unemployment benefits rose by 7,000 to a seasonally adjusted 215,000 for the week ended
May 4. Meanwhile, continued jobless claims likely rose to 1.785 million for the week ended April
27, from 1.774 million in the week before.
George Mason University is scheduled to air a pre-recorded fireside chat with Federal Reserve
Bank of San Francisco President Mary Daly at GMU's Marcatus Center in Fairfax, Virginia.
(1400/1800)
Tapestry is expected to post a drop in third-quarter revenue as weaker demand in North America
and Europe is likely to drag its business. Investors will be looking for comments on its deal
with Capri, demand outlook, and the state of accessible luxury spending.
 
Video gaming platform Roblox is expected to report a rise in first-quarter bookings, benefiting
from higher in-game spending.
    
Akamai Technologies is expected to report higher first-quarter revenue, likely helped by
resilient demand for cloud security services.
    
Tower Semiconductors to report first-quarter results below analysts estimates as the company had
flagged earlier that the supply glut in the automotive sector might weigh on the company's
results.
 
EPAM is scheduled to report first-quarter revenue in line with estimates and forecast muted
second-quarter revenue as inflation and high interest rates force tech clients to cut back
spending.
Viatris is expected to report its first-quarter earnings. Investors are likely to look out for
any changes to the company's profit forecast and the performance of its branded and generic
drugs.
Charles River Laboratories is set to report its first-quarter results before markets open. The
focus for the quarter will be on updates to its annual forecast and comments on spending by its
clients.
3M-spinoff Solventum is expected to report first-quarter earnings before markets open. Investors
will focus on the healthcare firm's outlook for the year and its growth strategy as a standalone
company.

Mettler-Toledo is set to report first-quarter results after markets close. Investors will
monitor any updates to the company's full-year sales and earnings per share outlook amid
previously disclosed shipping delays impacting its business.
Sun Life Financial is set to report its first-quarter earnings. The second-biggest Canadian life
insurer is expected to post a jump in profit.
 
On the Latin American front, Mexico's central bank is expected to hold its benchmark interest
rate at 11%, as persistent inflation remains above the bank's target range. Separately, Mexico's
national statistics agency, INEGI, is scheduled to report headline inflation likely rose 0.19%
in April after gaining 0.29% the month before. On a yearly basis, inflation probably climbed
4.63% in April, after rising 4.42% in March. The core inflation is expected to gain 0.24% in
April, after reporting a rise of 0.44% in the prior month. On an annual basis, core inflation in
April is expected to climb 4.40%. Meanwhile, Peru's central bank is expected to lower its
benchmark interest rate by 25 basis points to 5.75%. In addition, the country is scheduled to
report its trade balance figures for March.


 (Compiled by Anjana Jayakrishnan Nair in Bengaluru; Editing by Ravi Prakash Kumar)
 ((AnjanaJayakrishnan.Nair@thomsonreuters.com;))