What to Watch in the Day Ahead - Tuesday, Dec 22

Mon Dec 21, 2015 2:32pm EST
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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)
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.
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)