What to Watch in the Day Ahead - Tuesday, August 6
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Yum Brands is scheduled to post a marginal fall in same-store sales in the second quarter as demand for fast food in the U.S. remains muted in the face of sticky inflation. Investors will watch out for insight into Yum's efforts to revamp its loyalty program, as well as response to its value deals in the summer.
Uber is expected to report a rise in second-quarter revenue, driven by strong demand for cabs amid summer-time tourist travel and the Paris Olympics. Investors will focus on what could be strong projections for the latter part of this year.
Reddit is scheduled to report its second-quarter financial results. The social platform said in May that it could report an adjusted profit in the quarter, as it is likely to benefit from the recovering digital ad market. Investors will be looking for commentary about how its AI content licensing deals with Alphabet's Google and Microsoft-backed OpenAI are paying off.
Fox Corp will report a drop in its fourth-quarter advertising revenue as advertisers cut spending on its television networks due to an uncertain economy.
Instacart, formally known as Maplebear, is expected to post a rise in second-quarter revenue, banking on higher advertisement and transaction fees it charges on its platform. Investors will look out for comments on demand trends, company's efforts to grow its advertisement business and any forecast that it provides.
On the US economic front, a report from the Commerce Department is expected to show the country's international trade deficit likely came in at $72.5 billion in June, narrowing from $75.1 billion in May.
Chipmaker GlobalFoundries is expected to report a fall in second-quarter revenue as it grapples with slowing orders from clients who are clearing excess chip inventory.
Vans parent VF Corp is expected to post a decline in first-quarter revenue, hurt by choppy demand for its apparel and footwear. Investors will look for comments on demand, impact from management changes, layoffs as well as sale of its Supreme brand, and annual forecasts.
IDEXX Laboratories is set to report its second-quarter results before markets open. The focus will be on changes to its annual outlook and commentary regarding veterinary clinic visits.
WK Kellogg is expected to post a sequentially lower second-quarter revenue as pressure from slowing demand hurt sales for the Froot Loops maker's ready-to-eat breakfast items and snacks. Investors will look out for comments on price points, strategies to draw back customers as well as demand outlook primarily in North America.
Kenvue is scheduled to report second-quarter results. Investors are expected to look out for any changes to the company's annual profit forecast and any comments on its cost-cutting program.
A report from Statistics Canada is slated to show Canada's trade deficit likely narrowed to C$1.84 billion in June from C$1.93 billion in the month before.
On the Latin American front, Brazil's trade balance data is set for release, which is expected to show a surplus of $7.75 billion in July, up from $6.71 billion posted in June.
Compiled by Dhanya Manjunath Hegade in Bengaluru; Editing by Vijay Kishore
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Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
