June 18, 2014 / 6:28 PM / 4 years ago

What to Watch in The Day Ahead; Thursday, June 19

(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) The U.S. Labor Department releases its weekly update on new applications for unemployment insurance, which likely dropped in the latest week, supporting views that the labor market is firming. (0830/1230) Later, the Conference Board releases its gauge of leading indicators, which are expected to rise slightly in May. (1000/1400) Also on the radar is the Philadelphia Fed’s manufacturing index, which likely slipped in June. (1000/1400) Investors will be looking for signs that Oracle is making progress against smaller rivals when it reports fiscal fourth-quarter results after the bell. In March, Oracle forecast results for the May quarter that met analysts’ expectations and since then the company’s stock has outperformed the broader market on cautious expectations of progress against Workday, Salesforce.com and other cloud competitors. BlackBerry is scheduled to report fiscal first-quarter results. With the smartphone maker not expected to return to a profit until sometime in 2016, much of the focus will be on the company’s turnaround plan and its attempt to reinvent itself. Emphasis is likely to be on inroads the company is making within the device management space and the opportunities it sees in machine-to-machine computing. The company is also hosting its AGM on the day and investors are also likely to pepper the company with questions about its plans for the devices business. Supermarket operator Kroger appears to be gaining steam as rival Wal-Mart’s massive grocery business limps along. Kroger is scheduled to report first-quarter results before the bell. It is expected to get a boost from its acquisition of Harris Teeter Supermarkets for about $2.5 billion in January - a deal that added more than 200 supermarkets to its network. Investors will look forward to know how Rite Aid is coping with competition from new generic drugs that hurt its pharmacy same-store sales last month. The drugstore chain operator, scheduled to report results before the bell, had estimated first-quarter profit much below analysts’ expectations and also cut its full-year earnings outlook as it expects higher drug costs and bigger-than-expected fall in reimbursement rates. Financial information service provider Markit’s initial public offering is expected to raise as much as $1.14 billion, valuing the company at up to $4.47 billion. The company, which competes with Bloomberg and Thomson Reuters, provides pricing and reference data, indices and valuation services. Markit, founded by Canadian Lance Uggla in 2001, counts Singapore state investor Temasek Holdings, Bank of America, Deutsche Bank and Goldman Sachs Group among its major stockholders. Data is expected to show whether the pace of Mexican private spending continued to ease in the first quarter after growing just 0.1 percent in the three months through December. (0900/1300) Separately, the Argentine government is due to release May trade balance data. (1500/1900) (Compiled By Ayesha Sruti Ahmed in Bangalore)

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