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Drugmaker Biogen Inc is expected to report a higher first-quarter profit, driven by strong sales of its top-selling oral multiple sclerosis drug, Tecfidera, which has seen burgeoning sales since its launch in 2013. Biogen, which leads the U.S. multiple sclerosis market with five drugs for the condition, recently reported promising data for its Alzheimer’s disease drug. Investors will also be looking for commentary on Tecfidera’s growth expectations and potential for competition as well as the longer-acting multiple sclerosis injectable, Plegridy.
American Airlines Group Inc, the world’s largest passenger carrier, is expected to post strong first-quarter revenue and profit after competitor Delta Air Lines Inc released results last week. Investors will focus on American Airlines’ outlook on capacity after the peak summer travel season ends. Expectations are that American Airlines will reduce the number of seats it sells as demand from outside the United States remains weak due to a strong dollar.
The U.S. Commerce Department is expected to report that sales of durable goods recovered in March as companies ramped up spending on transportation equipment. Overall, orders for durable goods are expected to have risen 0.6 percent last month, hinting at some growth in the U.S. manufacturing sector. Spending was unexpectedly down 1.4 percent in February, possibly hampered by a stronger dollar and falling global demand. (0830/1230)
Infosys Ltd, India’s second biggest software services exporter, is expected to report a 6 percent rise in its fourth-quarter profit as the company’s clients in the West spend more on outsourcing services and investments in high-margin projects such as digitization and cloud based work. Focus will be on Infosys’s revenue growth forecast for the year that began on April 1, after rivals Tata Consultancy Services and Wipro posted weak sales growth for the March quarter and gave tepid forecasts. Investors will also watch for comments on efforts to curb attrition, a major pain point for Infosys. Advertising company Interpublic Group of Companies Inc is expected to report first-quarter revenue in line with average analyst estimate, according to Thomson Reuters StarMine data. The company’s fourth quarter was helped by higher ad spending by businesses in the United States.
Xerox Corp, which has been shifting its focus to IT services from printers and copiers, is expected to report first-quarter revenue slightly below analysts’ expectations, according to Thomson Reuters StarMine data. Xerox had cut its profit forecast for 2015 for the second time after reporting its sixth consecutive drop in revenue in the fourth quarter. Investors will be looking out for the company’s outlook for the remainder of 2015.
Car seat maker Lear Corp is expected to report higher first-quarter profit, helped by strong demand in North America and a rise in vehicle production. Some analysts expect Lear to benefit from cheaper commodity prices and report higher margins. Investors will look for Lear’s comments on Mercato Capital seeking a split of the auto parts supplier’s businesses.
Apigee Corp, which develops software to manage Web applications, is expected to raise up to $92 million in its initial public offering, valuing the company at up to $524 million. The company’s software platform allows businesses to design and deploy application programming interfaces to link its core IT systems with data used by customers and others. The company primarily offers application interface management and predictive analysis services.
Mexico’s retail sales data will reveal how the gauge fared in February, after it rose at its fastest pace in over a year in January. (0900/1300) Separately, the Argentine government is due to release March industrial production data (1500/1900) and economic activity data for February (1500/1900).
LIVE CHAT: Huw McKay, senior economist and executive director at Westpac, looks at whether lower rates are here to stay Huw McKay, senior economist and executive director at Westpac, joins us from Sydney at 1430 Sydney time (0030 ET/0430 GMT) to talk about global macros, central banks and how long can such lower rates remain? To join the conversation, click here bit.ly/1kTxdKD
Compiled by Ayesha Sruti Ahmed in Bengaluru; Editing by Kirti Pandey