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Symantec Corp (NASDAQ:SYMC), best-known for its Norton antivirus software, is expected to report first-quarter
earnings slightly below analysts' average estimate, according to Thomson Reuters StarMine. While
cybersecurity companies are riding a wave of enterprise demand for network security in the face
of sophisticated cyber attacks, Symantec, whose security products come bundled with personal
computers, has been struggling with weak PC sales. Sluggish demand for storage and data
management software has also diminished the value of its cash cow Veritas business. The company
is in talks to sell the unit to private equity firm Carlyle Group (NASDAQ:CG), a source told Reuters last
month.
The U.S. Commerce Department releases wholesale inventories data for June. Economists expect the
wholesale inventories to have climbed 0.4 percent in June after adding 0.8 percent a month
earlier.(1000/1400) Separately, the National Federation of Independent Business releases its
Small Business Optimism Index for July. (0600/1000)
Canadian Mortgage and Housing Corp issues the housing starts data for last month. Economists
expect the seasonally adjusted annualized rate of housing starts to have slipped to 195,000
units in July from 202,818 units in June. (0815/1215)
Silver Wheaton Corp, which provides financing to miners in exchange for the right to buy a
percentage of their future production, is expected to report a lower second-quarter profit. The
focus will be on a Canada Revenue Agency (CRA) audit, which could result in the company having
to pay $200 million or more in taxes and penalties. CRA is looking to tax the company for income
earned by its foreign units between 2005 and 2010.
Mexico's statistics institute will release June data for industrial production after the May
figure registered the biggest fall in over a year as manufacturing and construction activity
tumbled. (0900/1300)
LIVECHAT: Economist View - Holger Schmieding, chief economist, Berenberg Bank
Holger Schmieding, chief economist at Berenberg Bank joins us to discuss the implications of
Friday's payrolls data for the Federal Reserve. (0500 /0900)