What to Watch in the Day Ahead - Tuesday, Nov 3
(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) Elon Musk's Tesla Motors Inc is expected to report a bigger third-quarter loss than analysts are expecting, according to Thomson Reuters StarMine. The California-based maker of luxury electric cars is expected to provide updates on new orders for the recently launched Model X and the status of the company's huge battery factory being built in Nevada. Investors will also look for commentary on the company's expenses for the quarter and the upcoming year. CBS Corp, the owner of the most-watched U.S. TV network, is expected to report third-quarter revenue and profit above analysts' expectations, according to Thomson Reuters StarMine. The company is expected to benefit from higher revenue from affiliates and subscription fees. To help offset the impact of fluctuations in advertising revenue, CBS is focusing on boosting subscription and retransmission fees. New orders for U.S. factory goods likely fell in September for a second straight month. New orders for manufactured goods are expected to have fallen 0.9 percent, after a 1.7 percent drop in August. (1000/1500) Meanwhile, U.S. automakers will be releasing auto sales for October. Analysts forecast October sales at 17.7 million vehicles on a seasonally adjusted annualized basis, compared with 18.2 million last month and 16.5 million last October. When Kellogg Co reports its third-quarter results, investors will be looking for comments on recovery in its U.S. cereals business, where sales have been falling over the past two years. The maker of Corn Flakes and Rice Krispies said in August it would start zero-based budgeting, which requires managers to justify each year's costs from scratch, to cut costs. Groupon Inc, the operator of daily deals website groupon.com, is expected to report third-quarter revenue and profit below analysts' expectations, according to Thomson Reuters StarMine. The company said last month it would cut about 1,100 jobs globally and shut operations in seven countries. Groupon has been struggling to boost sales as competitive deals on online marketplaces operated by Amazon.com Inc and eBay Inc make its coupons less attractive to shoppers. Sprint Corp is scheduled to report second-quarter profit above the average analyst estimate, according to Thomson Reuters StarMine. Investors and analysts will look for comments on the wireless carrier's plans to cut an unspecified amount of jobs and about $2.0 billion-$2.5 billion in costs over the next six months. Video game publisher Activision Blizzard Inc is expected to post third-quarter profit above the average analyst estimate, according to Thomson Reuters StarMine, helped by higher sales of its "Hearthstone" game. Investors will await the company's forecast for the much-anticipated "Call of Duty: Black Ops 3" game, ahead of the key holiday quarter. Discovery Communications Inc, the operator of channels such as Animal Planet and TLC, is expected to report third-quarter revenue and profit slightly below consensus estimates, according to Thomson Reuters StarMine. The company has been hurt by lower ad sales, which account for almost half of its total revenue, and a strong dollar. Social gaming company Zynga Inc, known for its "FarmVille" and "Mafia Wars" games, is expected to post third-quarter revenue above the average analyst estimate and a smaller loss, according to Thomson Reuters StarMine, driven primarily by demand for its slots games. Investors will also be looking at savings from Zynga's previously announced $100 million cost reduction plan in May. U.S. fertilizer company Mosaic Co, which recently announced layoffs and slowed production at a Canadian potash mine amid slacking demand, is expected to report third-quarter results. Investors will be interested in any comments about when demand is expected to pick up and what direction new CEO Joc O'Rourke plans to take. Refiner Western Refining Inc's third-quarter profit is expected to beat the average analyst estimate, according to Thomson Reuters StarMine, helped by low crude costs and robust gasoline demand. Investors will look for more details on the company's offer to buy the shares of Northern Tier Energy LP it does not already own. Factory automation equipment maker Emerson Electric Co's fourth-quarter results are likely to be affected by a strong dollar and low oil prices. A global slowdown in industrial capital spending and weakness in China have also increased pressure on U.S. industrial manufacturers. TransCanada Corp, Canada's second largest pipeline operator, releases its third-quarter results. The company has long been awaiting a decision on its proposed multi-billion dollar Keystone XL pipeline, and has said it is still committed to the project, despite strong opposition in the United States. WestJet Airlines Ltd is scheduled to report third-quarter results. Analysts expect the company to report strong numbers as it takes advantage of lower oil prices, even as its stock fell 10 percent in the quarter. Brazil is expected to post a trade surplus of $1.16 billion in October, having notched a $2.94 billion surplus in September. LIVECHAT - The UK Political Scene and Brexit with Anthony Staddon, Expert on British politics and Parliament at University of Westminster Join Anthony Staddon, an expert on British politics and Parliament at the University of Westminster, for a chat on the political landscape as the main opposition party in Westminster veers to the left but is beset by infighting, and Britain tries to renegotiate its place in the European Union ahead of a looming in/out referendum. (0500/1000) To join the Global Markets Forum, click here bit.ly/1kTxdKD (Compiled by Nayyar Rasheed in Bengaluru; Editing by Kirti Pandey)
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