What to Watch in the Day Ahead - Tuesday, Feb. 10
(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)
Coca-Cola Co is scheduled to report fourth-quarter results. Investors will be looking for an update on the progress og the soft drink giant's announced $3 billion cost savings plan.
Pharmacy chain operator CVS Health Corp is expected to benefit from high prescription growth in the fourth quarter, helped by a strong cold/flu season. The company's specialty drugs, and pharmacy benefits businesses are expected to do well. Results will, however, likely be pressured in the aftermath of the discontinuation of the tobacco business. The year-earlier quarter was the last full quarter to include tobacco sales. Sales are expected to miss estimates, according to Thomson Reuters StarMine data. Investors will be interested in any update to forecast.
Regeneron Pharmaceuticals Inc releases its fourth-quarter results, which will be driven by its blockbuster eye drug, Eylea. Its quarterly sales, preannounced in January, have beaten expectations, likely driven by a rising demand in patients with a type of diabetes-related swelling of the retina. Investor will be looking for any commentary on the progress and commercial potential of three likely blockbuster biotech drugs the company is developing with France's Sanofi SA.
UBS Group AG, a Switzerland-based bank and investment manager, reports fourth-quarter and full-year results. Chief Executive Sergio Ermotti will address journalists.
Billionaire businessman Carlos Slim's flagship company, America Movil, will report fourth-quarter results after the markets close. The phone company has been struggling to increase revenue as it faces tougher regulation in its biggest markets, Mexico and Brazil.
The No. 1 U.S. advertising company Omnicom Group Inc is expected to report a fourth-quarter profit well below average analyst estimate, mainly hurt by a weaker euro. However, the U.S. advertising market is expected to remain strong with companies such as Walt Disney and Viacom indicating that advertising spending is expected to return to television. The company has been looking to make acquisitions in the digital and social media space to deal with competition from Internet advertising companies such as Google and Yahoo. Analysts will be looking for guidance in the context of volatile foreign exchange rates.
The U.S. Commerce Department releases Wholesale Inventories, which are expected to have increased 0.2 percent in December. (1000/1500) Meanwhile, the National Federation of Independent Business issues Small Business Optimism Index for January. (0900/1400) In a separate report, U.S. Labor Department issues Job Openings and Labor Turnover Survey for December. (1000/1500)
Private equity firm KKR & Co LP is expected to report a decline in fourth-quarter earnings, as it fails to beat the cash it generated from assets sales a year ago. Continued...