What to Watch in the Day Ahead - Tuesday, Nov. 25
(The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users can register at RT/DAY/US. All times in ET/GMT) Preliminary data on U.S. GDP is likely to show the economy ended its third quarter on a slightly weaker footing than previously estimated. The Commerce Department is expected to report that gross domestic product increased at a 3.3 percent annual pace in the quarter after a previous estimate of a 3.5 percent growth rate (0830/1330). Separately, the Conference Board is expected to report that consumer confidence increased in November from October (1000/1500). Also, the S&P/Case-Shiller house price index is likely to show prices increased 4.7 percent in September from a year ago (0900/1400). Hewlett-Packard Co is scheduled to report fourth-quarter results after the closing bell. The company posted an adjusted profit of $1.7 billion, or 89 cents per share, in the previous quarter. Tiffany & Co, the upscale jeweler, is scheduled to report a third-quarter profit below analysts' expectations, according to StarMine. The company raised its full-year profit forecast in August following a better-than-expected rise in quarterly profit, driven by strong sales and higher prices for its high-end jewelry in the Americas, its biggest market. However, the government crackdown in China and unrest in Hong Kong are likely to have hurt results in Asia Pacific, which accounted for 23 percent of sales last year. Contraction in Japan's GDP in the third quarter is also likely to have hurt Tiffany, which got 14 percent of sales from the country last year.
Campbell Soup Co reports its first-quarter earnings as the company faces the challenge of how to get people to eat soup again.
Digital video recorder maker TiVo Inc is expected to report third-quarter revenue marginally below estimates, according to StarMine. Cable TV operator growth has decelerated as market penetration rates have gone above 60 percent, according to analysts. The company had been dependent on its cable TV partners such as Virgin Media in UK, ONO in Spain and Com Hem AB in Sweden for revenue in the previous quarter. TiVo has been trying to partner with more cable TV operators to grow its business. Yingli Green Energy Holding Co, the world's biggest panel supplier, is expected to report a smaller third-quarter loss, helped by strong demand from China and Japan. The company, heavily reliant on the low-price China market, has stayed in the red, even as smaller rivals have turned profitable. Investors will be looking for the company's expansion into newer markets will help the company return to the black. Data storage equipment maker Nimble Storage Inc is expected to post a loss smaller than analysts' average expectation for the third quarter, according to StarMine data. The company, which made its IPO debut in December, is expected to benefit from higher demand for its flash storage products. Nimble is yet to turn a profit. Canada's retail sales are expected to have risen 0.5 percent in September. Retail sales dropped 0.3 percent in August, pulled down by lower gasoline prices and weaker sales of new cars, food, and housing-related items, Statistics Canada said (0830/1330). Mexico's central bank releases current account data, which will show whether investors continued to pile into Mexico's stocks and bonds and cut investment in factories and businesses in the third quarter (1000/1500). Separately, Argentina's government is due to release October trade balance data (1400/1900). Bank of Japan Governor Haruhiko Kuroda will speak to business leaders in Nagoya, central Japan, home to auto giant Toyota and many of its parts suppliers which likely benefited from the weak yen resulting from the BOJ's massive stimulus program. Some business executives, however, have recently talked about the demerits about the weak yen such as rising import costs. Investors will be looking for fresh comments from Kuroda on the government's decision to postpone a second sales tax hike. (Compiled by Sourav Bose in Bangalore; Edited by Maju Samuel)
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