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Chinese e-commerce company Alibaba Group Holdings Ltd will report results for the fourth quarter and fiscal year before markets open and hold a post-earnings conference call at 0730 ET (1130 GMT). Analysts expect Alibaba’s quarterly revenue to fall short of consensus estimates, hurt by a slowdown in gross merchandise volume growth.
New applications for unemployment insurance likely picked up last week, but stayed at levels consistent with a labor market that is generally improving. Analysts expect the U.S. Labor Department to report that jobless claims were up to 280,000 last week, from the prior week’s 262,000. (0830/1230)
Broadcasting company CBS Corp’s first-quarter revenue is expected to be hurt by a strong dollar, which rose about 9 percent against a basket of major currencies in the first three months of the year. Higher programming costs are also likely to weigh on the company’s profit. Walt Disney Co’s cable networks business was also hit by higher programming costs due to increased contract rates for high-end National Football League and Major League Baseball games.
With a rate hike officially on the table at each and every meeting of the Federal Reserve starting next month, Chicago Federal Reserve Bank President Charles Evans will defend his view - in the minority at the U.S. central bank - that the Fed will probably need to wait until 2016 before raising interest rates. He’ll speak on current economic conditions and monetary policy in a live interview with CNBC’s Steve Liesman during “Squawk Box,” from New York. (0830/1230)
Time Inc, the publisher of Sports Illustrated, Time and People magazines, had warned that sales would decline further this year as it grapples with falling circulation and advertising revenue. Most publishers, including Time, have been cutting costs, slashing their workforce and beefing up digital services. This could help the company report a first-quarter profit above analysts’ estimates, according to Thomson Reuters StarMine data.
Biotechnology company Regeneron Pharmaceuticals Inc is expected to report a first-quarter profit below analyst expectations, according to Thomson Reuters StarMine, despite a label expansion of its flagship eye injection Eylea, which was also established as superior to rival drugs. Still, sales of Eylea, which accounted for about 61 percent of Regeneron’s revenue last year, are expected to match expectations. Investors are increasingly focusing on the company’s non-Eylea assets, particularly on the approval and potential launch of its touted blockbuster cholesterol drug, alirocumab, developed with France’s Sanofi.
Canada’s Manulife Financial Corp reports first-quarter results and is holding its annual meeting in Toronto. The insurer’s results will be closely watched after a lackluster fourth quarter.
Telus Corp, one of Canada’s three dominant telecommunications companies, is expected to report a bigger first-quarter profit, helped by higher revenue from both its wireless and wireline businesses. The company said last month that it would invest a total of about $10.9 billion in Quebec, Ontario, Alberta and British Columbia through 2018. Investors will look for comments on how the investments will help Telus expand.
Auto parts maker and contract manufacturer Magna International Inc reports its financial results for the first quarter. The Canadian company may discuss its recent deal to sell most of its vehicle interiors business, as well as how it might use its strong balance sheet and cash flow.
Molson Coors Brewing Co, and its joint venture with SABMiller, MillerCoors LLC, will report first-quarter results. Molson Coors is likely to report a profit above analyst estimates, according to Thomson Reuters StarMine. The company’s efforts to overcome falling sales of key brands such as Miller Lite and Coors Light, including changed labeling and higher ad spending, seem to be working, analysts said, citing sales data. Investors will look for indications of a turnaround and updates on the company’s search for a CEO for MillerCoors, as Tom Long retires in June.
Post Holdings Inc, known for its cereals, protein bars and liquid eggs, said last week that some chickens at an Iowa-based egg supplier which supplies about 10 percent of Post’s eggs had tested positive for avian flu. Investors will look for an update on the final findings, how the company plans to handle the outbreak and if it will impact supply, when Post reports second-quarter results.
Handbag maker Kate Spade & Co is expected to report a first-quarter profit above the average analyst estimate, according to Thomson Reuters StarMine, helped by fewer promotions and the wind down of its slower selling Saturday and Jack Spade brands. With about 21 percent of sales coming from outside the United States, the company is likely to take a hit from the stronger dollar. Investors will look for any full-year and quarterly forecasts.
Perfume maker Elizabeth Arden Inc is expected to report lower-than-expected sales for the third quarter, according to Thomson Reuters StarMine, as demand for its once-popular celebrity fragrances wanes. The company in February raised its forecast for pretax restructuring charges related to some changes in its distribution strategy in China. Investors will look for details on the changes and any forecast for the year.
Priceline Group Inc, the world’s largest online travel services company by bookings, reports first-quarter results. A stronger dollar and volatile foreign exchange rates are expected to hurt the company’s revenue.
Graphics chip maker Nvidia Corp is expected to post a first-quarter profit above analyst expectations, according to Thomson Reuters StarMine. The company has been benefiting from strong sales of its graphics chips for PCs, despite a sluggish market. Nvidia has also been sharpening its focus on making chips for high-end automobiles and investors will look for more details on its plans for the rest of 2015.
Tallgrass Energy GP LP, a general partner holding company of Tallgrass Energy Partners LP, a master limited partnership affiliated with private equity firms Kelso and EMG, is expected to debut on the New York Stock Exchange. The IPO of 35.3 million class A shares is expected to raise up to $953.4 million. The offering is expected to be priced in the range of $24-$27 per share.
LIVE CHAT: Philip Shaw, chief economist at Investec looks at the implications for the UK markets as voting gets underway As voting in the too-close-to-call UK general election gets underway, Philip Shaw, chief economist at Investec, joins us in the forum at 0500 ET (0900 GMT) to take a look at the possible outcomes and the implications for UK markets. To join the Global Markets Forum, click here bit.ly/1kTxdKD
Compiled by Ayesha Sruti Ahmed in Bengaluru; Editing by Simon Jennings