November 23, 2015 / 7:34 PM / in 3 years

What to Watch in the Day Ahead - Tuesday, Nov 24

(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) Hewlett-Packard Co, which formally split into Hewlett Packard Enterprise Co and HP Inc on Nov. 1, will report combined fourth-quarter results for a final time. HP Inc, which houses the legacy printer and PC business, is expected to report better-than-expected quarterly revenue and profit, according to Thomson Reuters StarMine. The company is expected to benefit from cost-cutting in the printer business and an expected improvement in the PC market in 2016. On the other hand, Hewlett Packard Enterprise is expected to report quarterly profit below analysts’ average estimate, according to Thomson Reuters StarMine. Hewlett Packard Enterprise, which was considered the faster-growing of the two, is now marred with concerns about growth.

Upscale jeweler Tiffany & Co’s third-quarter profit and revenue are expected to beat analysts’ estimates by a slight margin, according to Thomson Reuters StarMine. Analysts say the company has to weather near-term pressures, heightened by the attacks in Europe, a focus market. Investors will look out for any forecast.

U.S. Commerce Department issues third-quarter preliminary numbers for gross domestic product and corporate profits. The U.S. economy likely grew at a fairly decent clip in the third quarter than initially thought, a sign of resilience that could give the Federal Reserve confidence to raise interest rate next month. The Commerce Department is likely to revise gross domestic product up to a 2.1 percent annual rate, according to a Reuters survey of economists, reflecting a lesser drag from inventories and stronger consumer spending than previously estimated. Residential investment is also likely to be revised higher, but will probably be offset by downward revisions to business investment, which would leave the initial estimate of domestic demand unchanged at a 3.2 percent rate. The government had previously reported that GDP expanded at a 1.5 percent rate in the third quarter. (0830/1330) Meanwhile, Standard & Poor’s releases its S&P Case/Shiller Home Price Index for September. (0900/1400) Separately, the Conference Board issues Consumer Confidence Index for November. (1000/1500)

Campbell Soup Co, the maker of brands such as Pepperidge Farm cookies and Goldfish crackers, is expected to report first-quarter revenue slightly below analysts’ average estimate, according to Thomson Reuters StarMine. The company is struggling to grow as consumer tastes shift toward less processed foods. Investors will look for commentary on sales forecast for the second quarter.

Dollar Tree Inc’s third-quarter profit is expected to miss analysts’ average estimate, according to Thomson Reuters StarMine. Amid intense competition from big box retailers such as Target Corp and Wal-Mart Stores Inc, Dollar Tree’s margins have been suffering as it spends on integrating Family Dollar stores, which have been struggling with pricing, merchandising and store layout issues. Investors will look for full-year and forecasts for the fourth quarter, and comments on trends and the Family Dollar integration.

An advisory committee to the U.S. Food and Drug Administration will decide whether BioMarin Pharmaceutical Inc’s experimental muscle wastage drug shows enough clinical benefit in patients to warrant an approval. The vote comes days after a prelimiary review by the health regulator’s staff raised safety and efficacy concerns over the drug, drisapersen. The drug is being developed to treat Duchenne’s muscular dystrophy, a disease that causes rapid muscle degeneration in young boys.

Bombardier Inc CEO Alain Bellemare presents his game plan for improving company’s revenue to investors and analysts in New York City. They will be looking for any comments on the company’s latest deal with Quebec’s public pension fund manager, Caisse de depot et placement du Quebec (CDPQ), which will buy a 30 percent stake in Bombardier’s rail business for $1.5 billion to provide a bigger cash cushion for its troubled planemaking unit.

Bank of Canada Deputy Governor Lynn Patterson will give a presentation on “Promoting Canada’s Economic and Financial Well-Being” in Regina as part of the bank’s regional outreach program.

Mexico’s consumer prices are expected to have increased 0.73 percent in the first half of November. The annual inflation is also expected to have gained 2.48 percent after it cooled to a record low in early October. (0900/1400)

LIVECHAT: U.S. DEBT with Mary Ann Hurley, vice president at D.A. Davidson and FX MARKETS with independent trader Jeremy Wilkinson-Smith A fixed-income trader focused on U.S. Treasuries and agencies, Seattle-based Mary Ann will take questions on how retail buyers are getting increasingly choosey, Fed policy and U.S. economic trends. Separately, Jeremy Wilkinson-Smith will discuss the main trends in the FX markets and the forces driving them, as well as how Jeremy is positioned. To join the Global Markets Forum, click here

Compiled by Sourav Bose in Bengaluru; Editing by Sriraj Kalluvila

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