(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
DAY/US . Thomson One users can register at RT/DAY/US. All times in ET/GMT)
Retailer Target Corp (N:TGT) is scheduled to report third-quarter earnings. Chief Executive Brain
Cornell, who took over in August last year, has focused on core categories such as baby, kids
and wellness products, even as he has withdrawn from the money-losing foray into Canada and laid
off thousands of employees. Investors will watch for his comments on the upcoming holiday
season, his attempts to revive grocery sales, management reshuffles, smaller store rollouts and
supply chain.
Lowe's Companies Inc, the No. 2 U.S. home improvement company, is likely to report a
third-quarter profit in line with analysts' estimates, according to Thomson Reuters StarMine.
Like bigger rival Home Depot (N:HD), Lowe's could benefit from an improving housing market but the
company has to rely on heavy promotion for its products in the face of competition from big-box
and online retailers. Lowe's, though older than Home Depot, still has not optimized its online
channel and may lose out in the race to cater to millennials.
The Federal Open Market Committee will issue the minutes of its Oct 27-28 policy meeting.
(1400/1900) Three of the Federal Reserve's top policymakers gather on a single panel to discuss
financial regulation, markets, the economy, and monetary policy in what could be the clearest,
unified signal yet that the U.S. central bank is not blinking as it prepares to raise interest
rates next month. Cleveland Fed President Loretta Mester, New York Fed President William Dudley
and Dennis Lockhart of the Atlanta Fed are participating in "Conference Breakfast on Federal
Reserve Perspectives" before the Clearing House Annual Conference in New York. (0800/1300)
Dudley will also preside over a conversation with former Federal Reserve chair Ben Bernanke to
discuss book "Courage to Act," at an Economic Club of New York luncheon. (1130/1630) Federal
Reserve Bank of Dallas President Robert Kaplan gives his first talk on the economy and monetary
policy at an event hosted by the University of Houston. Kaplan doesn't vote on Fed policy until
2017, but this will be the first hint of what kind of a view he is already voicing at the policy
table as the Fed considers its first rate hike in nearly a decade. (1200/1700)
U.S. housing starts likely fell in October, but possibly remained at levels consistent with a
housing market that is recovering at a healthy clip. Groundbreaking is expected to have slipped
to a seasonally adjusted annual pace of 1.16 million units last month from 1.21 million units in
September, according to a survey of economists. October would mark the seventh straight month
that housing starts have been above 1 million units. (0830/1330) Building permits likely rose to
a 1.15 million-unit pace from 1.11 million in September. (0830/1330)
Cloud software company Salesforce.com Inc (N:CRM) is expected to report third-quarter earnings above
analysts' average estimate, according to Thomson Reuters StarMine. Salesforce has been helped by
higher demand for its web-based sales and marketing software, and as businesses opt for cheaper
and easier cloud software services. Investors will look for plans to improve margins as higher
spending, particularly on sales personnel, pressure the bottom line.
Valeant Pharmaceuticals International Inc (N:VRX) executives make a presentation at the Jefferies Global
Healthcare conference in London. The company's stock has plummeted since late summer on concerns
about its use of a specialty pharmacy and spikes in prices of its heart drugs. Of particular
interest to investors would be any hints about Valeant's forecast for the fourth quarter and
2016, after it severed ties with pharmacy Philidor. Valeant has said that dermatology revenue
would suffer, but plans to give details next month.
NetApp Inc (O:NTAP) is expected to report second-quarter revenue slightly above the average analyst
estimate, according to Thomson Reuters StarMine. The data storage equipment maker has been
migrating its customers to its next-generation storage operating system, clustered Data ONTAP,
and hopes to derive a majority of its revenue from the system.
Office supplies retailer Staples Inc (O:SPLS) will be reporting third-quarter results. Analysts expect
the company to post earnings of 35 cents a share, down from 37 cents a year earlier, according
to Thomson Reuters I/B/E/S. Staples's $6.3 billion offer for rival Office Depot has come under
scrutiny from the U.S. Federal Trade Commission as well as the EU antitrust regulators as it
involves the top two companies in the industry, and investors will look for comments on the
same.
Chile's central bank will provide the third-quarter gross domestic product reading. Analysts
expect a year on year rise of 2.1 percent and quarter on quarter of 0.3 percent, better than the
second quarter, as the economy gradually begins to pick up despite continued weak copper prices.
LIVECHAT - Fed Focus with Christophe Barraud, Chief Economist, Market Securities
Named the best forecaster of U.S. statistics in 2012, 2013 and 2014 by Bloomberg, Christophe
Barraud has a Ph.D. in Economics and is a lecturer in Paris-Dauphine University. (0230/0730) To
join the conversation click here http://bit.ly/1kTxdKD
(Compiled By Nayyar Rasheed in Bengaluru; Edited by Don Sebastian)
events, analyses and other features. To receive The Day Ahead, Eikon users can register at
DAY/US . Thomson One users can register at RT/DAY/US. All times in ET/GMT)
Retailer Target Corp (N:TGT) is scheduled to report third-quarter earnings. Chief Executive Brain
Cornell, who took over in August last year, has focused on core categories such as baby, kids
and wellness products, even as he has withdrawn from the money-losing foray into Canada and laid
off thousands of employees. Investors will watch for his comments on the upcoming holiday
season, his attempts to revive grocery sales, management reshuffles, smaller store rollouts and
supply chain.
Lowe's Companies Inc, the No. 2 U.S. home improvement company, is likely to report a
third-quarter profit in line with analysts' estimates, according to Thomson Reuters StarMine.
Like bigger rival Home Depot (N:HD), Lowe's could benefit from an improving housing market but the
company has to rely on heavy promotion for its products in the face of competition from big-box
and online retailers. Lowe's, though older than Home Depot, still has not optimized its online
channel and may lose out in the race to cater to millennials.
The Federal Open Market Committee will issue the minutes of its Oct 27-28 policy meeting.
(1400/1900) Three of the Federal Reserve's top policymakers gather on a single panel to discuss
financial regulation, markets, the economy, and monetary policy in what could be the clearest,
unified signal yet that the U.S. central bank is not blinking as it prepares to raise interest
rates next month. Cleveland Fed President Loretta Mester, New York Fed President William Dudley
and Dennis Lockhart of the Atlanta Fed are participating in "Conference Breakfast on Federal
Reserve Perspectives" before the Clearing House Annual Conference in New York. (0800/1300)
Dudley will also preside over a conversation with former Federal Reserve chair Ben Bernanke to
discuss book "Courage to Act," at an Economic Club of New York luncheon. (1130/1630) Federal
Reserve Bank of Dallas President Robert Kaplan gives his first talk on the economy and monetary
policy at an event hosted by the University of Houston. Kaplan doesn't vote on Fed policy until
2017, but this will be the first hint of what kind of a view he is already voicing at the policy
table as the Fed considers its first rate hike in nearly a decade. (1200/1700)
U.S. housing starts likely fell in October, but possibly remained at levels consistent with a
housing market that is recovering at a healthy clip. Groundbreaking is expected to have slipped
to a seasonally adjusted annual pace of 1.16 million units last month from 1.21 million units in
September, according to a survey of economists. October would mark the seventh straight month
that housing starts have been above 1 million units. (0830/1330) Building permits likely rose to
a 1.15 million-unit pace from 1.11 million in September. (0830/1330)
Cloud software company Salesforce.com Inc (N:CRM) is expected to report third-quarter earnings above
analysts' average estimate, according to Thomson Reuters StarMine. Salesforce has been helped by
higher demand for its web-based sales and marketing software, and as businesses opt for cheaper
and easier cloud software services. Investors will look for plans to improve margins as higher
spending, particularly on sales personnel, pressure the bottom line.
Valeant Pharmaceuticals International Inc (N:VRX) executives make a presentation at the Jefferies Global
Healthcare conference in London. The company's stock has plummeted since late summer on concerns
about its use of a specialty pharmacy and spikes in prices of its heart drugs. Of particular
interest to investors would be any hints about Valeant's forecast for the fourth quarter and
2016, after it severed ties with pharmacy Philidor. Valeant has said that dermatology revenue
would suffer, but plans to give details next month.
NetApp Inc (O:NTAP) is expected to report second-quarter revenue slightly above the average analyst
estimate, according to Thomson Reuters StarMine. The data storage equipment maker has been
migrating its customers to its next-generation storage operating system, clustered Data ONTAP,
and hopes to derive a majority of its revenue from the system.
Office supplies retailer Staples Inc (O:SPLS) will be reporting third-quarter results. Analysts expect
the company to post earnings of 35 cents a share, down from 37 cents a year earlier, according
to Thomson Reuters I/B/E/S. Staples's $6.3 billion offer for rival Office Depot has come under
scrutiny from the U.S. Federal Trade Commission as well as the EU antitrust regulators as it
involves the top two companies in the industry, and investors will look for comments on the
same.
Chile's central bank will provide the third-quarter gross domestic product reading. Analysts
expect a year on year rise of 2.1 percent and quarter on quarter of 0.3 percent, better than the
second quarter, as the economy gradually begins to pick up despite continued weak copper prices.
LIVECHAT - Fed Focus with Christophe Barraud, Chief Economist, Market Securities
Named the best forecaster of U.S. statistics in 2012, 2013 and 2014 by Bloomberg, Christophe
Barraud has a Ph.D. in Economics and is a lecturer in Paris-Dauphine University. (0230/0730) To
join the conversation click here http://bit.ly/1kTxdKD
(Compiled By Nayyar Rasheed in Bengaluru; Edited by Don Sebastian)