What to Watch in the Day Ahead - Tuesday, Aug. 11
(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) Symantec Corp, best-known for its Norton antivirus software, is expected to report first-quarter earnings slightly below analysts' average estimate, according to Thomson Reuters StarMine. While cybersecurity companies are riding a wave of enterprise demand for network security in the face of sophisticated cyber attacks, Symantec, whose security products come bundled with personal computers, has been struggling with weak PC sales. Sluggish demand for storage and data management software has also diminished the value of its cash cow Veritas business. The company is in talks to sell the unit to private equity firm Carlyle Group, a source told Reuters last month. The U.S. Commerce Department releases wholesale inventories data for June. Economists expect the wholesale inventories to have climbed 0.4 percent in June after adding 0.8 percent a month earlier.(1000/1400) Separately, the National Federation of Independent Business releases its Small Business Optimism Index for July. (0600/1000) Canadian Mortgage and Housing Corp issues the housing starts data for last month. Economists expect the seasonally adjusted annualized rate of housing starts to have slipped to 195,000 units in July from 202,818 units in June. (0815/1215) Silver Wheaton Corp, which provides financing to miners in exchange for the right to buy a percentage of their future production, is expected to report a lower second-quarter profit. The focus will be on a Canada Revenue Agency (CRA) audit, which could result in the company having to pay $200 million or more in taxes and penalties. CRA is looking to tax the company for income earned by its foreign units between 2005 and 2010. Mexico's statistics institute will release June data for industrial production after the May figure registered the biggest fall in over a year as manufacturing and construction activity tumbled. (0900/1300) LIVECHAT: Economist View - Holger Schmieding, chief economist, Berenberg Bank Holger Schmieding, chief economist at Berenberg Bank joins us to discuss the implications of Friday's payrolls data for the Federal Reserve. (0500 /0900) To join the Global Markets Forum, click here: bit.ly/1kTxdKD (Compiled by Hardik Vyas in Bengaluru; Edited by Don Sebastian)
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