What to Watch in the Day Ahead - Thursday, Sept. 25

Wed Sep 24, 2014 2:39pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(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) Dow component Nike Inc is expected to post a jump in quarterly profit due to higher sales, in turn driven by heavy marketing during the 2014 soccer World Cup. Demand growth in China and the introduction of new products such as additions to its Jordan and Vapor footwear brands are also expected to have driven sales since the World Cup ended in July. Investors will be looking for more details of new products and on whether the company's performance in North America and Western Europe has enabled it to increase its share in these key markets. New orders for long-lasting goods manufactured in the U.S. likely fell sharply in August after a huge jump in July but the volatility is unlikely to obscure what appears to be a strong factory expansion in the third quarter (0830/1230). Separately, the U.S. Labor Department issues its weekly update on new applications for unemployment insurance (0830/1230). The Commerce Department Bureau of Economic Analysis releases an international investment position report for the second quarter of 2014. Meanwhile, the Federal Reserve Bank of Kansas City issues composite and manufacturing outlook indices for September (1000/1500). Markit releases its composite and services PMI flash for September (0945/1345). Federal Reserve Bank of Atlanta President Dennis Lockhart speaks before the Mississippi Council for Economic Education in Jackson, Mississippi. Separately, Richard W. Fisher, President and CEO of Federal Reserve Bank of Dallas, speaks at Monte Del Paschi Di Siena Bank in Rome on "The Impact of U.S. Monetary Policy on the Euro Area". Chipmaker Micron Technology reports fourth-quarter results after markets close. Separately, Progress Software Corp reports third-quarter results. Airline ticketing company Travelport Worldwide's initial public offering is expected to be priced at $14-$16 per share, valuing the Blackstone Group LP-backed company at $1.9 billion at the top end of the range. Travelport is offering all the 30 million shares in the IPO and, at the expected pricing, will raise up to $480 million. Travelport links airlines and hotel chains with travel agencies and other ticket buyers and competes with travel distributors, such as Abacus and Amadeus, and business travel booking sites, such as eTravel and Egencia. Blackstone's stake in Travelport will fall to 7.16 percent after the IPO from 9.54 percent. Brazil's statistics agency IBGE releases long overdue data on unemployment rate from May to August after a strike disrupted the country's main job market survey for nearly three months. Brazil's unemployment rate has remained near record lows as an increasing number of teenagers and young adults opted out of the labor force to dedicate more time to training. However, economists say it may start to climb higher in coming months, reflecting the recently confirmed economic recession (0930/1330). (All analysts' estimates are according to Thomson Reuters I/B/E/S/) (Compiled By Nandi Kaul in Bangalore; Editing by Don Sebastian)