What to Watch in the Day Ahead - Wednesday, Sept. 10

Tue Sep 9, 2014 3:00pm EDT
 
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(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) Top government officials and executives from U.S. and European aerospace and defense firms will address significant challenges facing the global aerospace and defense industry at the 10th annual Reuters Aerospace and Defense Summit. On the agenda will be the engine failure that grounded Lockheed Martin Corp's F-35 Joint Strike Fighter for several weeks this summer, the policy implications of a spate of recent airline disasters, and a fresh drive by critics to dismantle the U.S. Export-Import Bank - a key source of financing for customers seeking to buy Boeing Co commercial airplanes. Speakers will also address the impact of continuing cuts in U.S. military spending at a time of sustained crises in Ukraine, the Middle East and Africa, and the progress on a mammoth overhaul of the U.S. air traffic control system that helps airlines navigate crowded air routes. The Barclays Global Financial Services Conference goes into its last day with speakers including Wells Fargo CFO John Shrewsberry and Bank of America CFO Bruce Thompson. Wells Fargo, the fourth-largest U.S. bank, has previously used the occasion to give a glimpse of its third-quarter earnings and this will be the first time an executive from the Bank of America will speak publicly following the bank's $16.65 billion settlement with the U.S. government. The Commerce Department releases wholesale inventories data for July. Wholesale inventories rose less than expected in June and analysts expect the data to show a month-on-month increase of 0.4 percent in July (1000/1400). General Electric holds a half-day meeting in New York for analysts and investors to showcase its fast-growing oil and gas business, which the conglomerate has built up through $14 billion in acquisitions since 2007. The analyst meeting is the first intensive review for investors that GE has held specifically for the oil and gas unit, whose results it began reporting separately in 2012. Electronics chain RadioShack is expected to report its tenth straight quarterly loss as it struggles to compete against rivals such as Amazon and Best Buy and with the general weakness in the consumer electronics industry. The company has been on the brink of bankruptcy for months but has stayed afloat, helped by turnaround efforts and some capital infusion from investors such as hedge fund Standard General LP. Investors will be keeping an eye out for the company's cash position and will be looking for updates on measures to stanch losses and boost sales. They will also look for comments on any additional financing commitments and signs of a turnaround under CEO and restructuring expert, Joe Magnacca. The National Association of Manufacturers holds a media teleconference call to release findings of a new macroeconomic study on the annual cost of federal regulations on the U.S. economy, manufacturers and small businesses. The study estimates the cumulative burdens of federal regulatory compliance across major business sectors and among firms of different sizes, providing a clear indication of the extent to which smaller firms are impacted. The participants from NAM are President and CEO Jay Timmons, Chief Economist Chad Moutray. There will be two participants from Lafayette College: W. Mark Crain, Professor of Political Economy and Nicole V. Crain, Professor of Economics. Statistics Canada will report capacity utilization data for the second quarter. Analysts expect it to rise to 82.8 percent from 82.5 percent in the first quarter (0830/1230). Mexico's national statistics agency releases gross fixed investment data which will show how this indicator fared in June, after the measure expanded at 0.5 percent month on month in May (0900/1300). Also, Finance Minister Luis Videgaray will explain the new 2015 budget before Congress. (Compiled by Ayesha Sruti Ahmed in Bangalore; Editing by Savio D'Souza)