November 17, 2014 / 6:18 PM / 4 years ago

CORRECTED-What to Watch in the Day Ahead - Tuesday, Nov. 18

(Corrects to remove Canadian elections blurb as it is scheduled for today (Nov. 17), not Nov.
Home Depot Inc, the world's largest home improvement chain, which was hit by a wide-ranging data
breach in September, is likely to report third-quarter profit above analysts' average estimates,
according to Thomson Reuters StarMine. The company said in August it expected same-store sales
to grow faster in the second half of the year as customers renovate homes with big-ticket
purchases such as wood and laminate flooring in a recovering U.S. housing market. Analyst expect
sales to have been unaffected by the data breach, which let hackers steal about 53 million email
addresses in addition to customer data for 56 million payment cards. Investors will be looking
out for updates on security following the data breach, any changes to full-year forecast and how
sales are shaping up in the holiday season quarter.

U.S. Labor Department releases monthly gauge of producer prices, which likely fell in October,
after dropping for the first time in more than a year in September. A drop in producer prices
could add to worries about inflation failing to rise above the Federal Reserve's 2 percent
target. The Labor Department is expected to report that its Producer Price Index for Final
Demand fell 0.1 percent last month (0830/1330). Separately, the National Association of Home
Builders reports November Housing Market index (1000/1500). Meanwhile, Treasury Department
releases a report on Treasury international capital for September (1600/2100).

Medtronic Inc, the world's largest standalone medical device maker, is expected to report higher
fiscal second-quarter earnings, but investors will be more interested in any details on its
planned $43 billion acquisition of Dublin-based hospital products maker Covidien Plc. Medtronic
is forging ahead with the plan despite new U.S. tax rules aimed at deterring such tax-inversion
deals that have forced the company to take on more debt to finance the purchase. 

Federal Reserve Bank of Minneapolis President Narayana Kocherlakota speaks on "Clarifying hte
Objectives of Monetary Policy" before the St. Paul Rotary (1330/1830). Separately, Federal
Reserve Division of Banking Supervision and Regulation Senior Adviser Thomas Sullivan testifies
on international insurance regulation before the House Financial Services subcommittee on
housing and insurance (1400/1900).

Sears Canada Inc, the department store chain is expected to report a third-quarter loss, its
tenth in 15 quarters, as it continues to struggle with declining sales amid stiff competition
from U.S.-based rivals. Its parent company, struggling retailer Sears Holdings Corp, recently
cut its stake in the Canadian chain to 12 percent from 51 percent. 

JA Solar Holdings Co Ltd, the Chinese solar panel maker is expected to post a quarterly profit
versus a year-ago loss, helped by strong demand from new markets such as the Middle East, Africa
and Latin America. The company's third-quarter revenue is expected to jump 48 percent. JA Solar
had earlier said it plans to set up factories in North America to bypass U.S. duties on solar
panels made in China. Investors will want to know how the move affects profit. Of interest is
also the company's gross margin and free cash flow.

Bank of Canada Deputy Governor Agathe Cote will address CFA Society Calgary, in Calgary,
Alberta. She will be speaking eight days before the Bank of Canada's blackout period begins on
pronouncements ahead of the Dec. 3 interest rate decision. Separately, Canada Trade Minister Ed
Fast will testify at a Senate committee on a government bill to implement the free trade
agreement with South Korea.
PayNet releases its index on the level of borrowing by small and medium-sized businesses in
Canada for the third quarter. Canadian Business Lending Index fell to 213 in the second quarter
from 219 in the first three months of the year.  

Chile's Central Bank releases GDP growth data for the third-quarter. Chile's economy appeared to
slump to a five-year low in the third quarter as consumers increasingly shied away from shops,
while investment, especially in the key mining sector, showed little sign of rebounding, a
Reuters poll found. Gross domestic product in the world's top copper producer probably grew 0.9
percent from a year earlier, according to the median estimate of 13 analysts and economists in
the poll (0630/1130). Separately, Chile's central bank meets to set the benchmark interest rate.
After cutting 200 bp over the last year to 3.0 percent, it has indicated that its easing cycle
has drawn to a close for now (1600/2100).
(All analysts' estimates are according to Thomson Reuters I/B/E/S)

 (Compiled by Sourav Bose in Bangalore)
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