What to Watch in the Day Ahead - Tuesday, Dec 22
(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) Nike Inc, the world's largest sportswear maker, is expected to report second-quarter profit and sales above analysts' estimates, according to StarMine. The company has said it expects revenue to increase 63 percent to $50 billion by fiscal 2020, boosted by growth in its e-commerce, women's and Jordan brand businesses. In November, the company approved a new $12 billion share buyback program and a two-for-one split of its class A and class B shares. The U.S. economy likely grew moderately in the third quarter as businesses doubled down on efforts to reduce an inventory glut. Less inventory, however, would be a good omen for growth in the last three months of the year. The Commerce Department is likely to revise gross domestic product down to a 1.9 percent annual rate from the 2.1 percent pace reported last month, according to a survey of economists. The revision will also likely reflect less consumer and business spending than previously estimated. (0830/1330) In a separate report, data is likely to show existing home sales for November remained steady, after a 3.4 percent decline in October. (1000/1500) ConAgra Foods Inc, the maker of Slim Jim beef jerky, is likely to report second-quarter sales and profit below analysts' average estimate, according to StarMine. The company said in October it would cut about 1,500 jobs and move its headquarters to Chicago from Omaha as part of a plan to save at least $300 million in three years. In the following month, the maker of Chef Boyardee pasta said it would sell its struggling private label foods business to TreeHouse for $2.7 billion. The company is also spinning off its Lamb Weston frozen potato products business. Investors will be looking out for further cost-saving measures, as well as the health of its consumer foods business, where sales have been recovering for the past two quarters. LIVE CHAT - MACRONOMICS with Sean Maloney, chief economist, Finconomics Sean Maloney, chief economist at Finconomics, joins us in the forum to discuss how markets are likely to fare in the last trading days of the year and into next year as investors digest last week's signals from the U.S. Federal Reserve. (0500/1000) To join the Global Markets Forum, click here: bit.ly/1kTxdKD (Compiled by Hardik Vyas in Bengaluru; Editing by Sriraj Kalluvila)
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