MARKET WRAPS
Watch For:
U.S. interest rate decision; U.S. ADP National Employment Report
for October; U.S. ISM Report on Business Services PMI for October;
U.S. EIA Weekly Petroleum Report; CVS Health Corp. 3Q results;
Sherritt International 3Q results.
Opening Call:
Stock futures hovered Wednesday as investors awaited the
conclusion of the Federal Reserve's monetary policy meeting and a
raft of economic data.
Stocks have surged in recent weeks, lifted by corporate earnings
that have given investors confidence that businesses are charting a
strong recovery. The reports have helped soothe lingering fears
that snarled global supply chains and rising prices might drag on
companies and crimp economic growth.
"Earning season has been very strong and the beats have been
extremely robust," said Hugh Gimber, a strategist at J.P. Morgan
Asset Management. "Despite the fact that there have been lots of
concerns about price pressures and supply bottlenecks there is no
sign that any of that is going through into margins."
Companies popular with traders on Reddit's WallStreetBets page
rose ahead of the opening bell. Bed Bath & Beyond surged over
60%. The company, which on Tuesday announced a partnership with
grocery chain Kroger, was among the most discussed companies on the
forum, according to sites that track mentions of ticker symbols.
Other meme-stock favorites GameStop and AMC rose over 5%.
In out-of-hours trading, Activision Blizzard fell over 10% after
the videogame maker said the release of two of its titles would be
delayed. Ride-hailing firm Lyft jumped over 12% after saying
revenue climbed in the latest quarter as demand for its services
returned.
Investors' eyes are on the Federal Reserve, which is set to
conclude its two-day meeting later in the day. Officials are
expected to announce the beginning of the end of their $120
billion-a-month bond-buying program but keep rates unchanged
despite growing disquiet about inflation.
Chairman Jerome Powell's postmeeting press conference at 2:30
p.m. ET is likely to be closely followed by investors looking to
see if the central bank chief addresses the surge in consumer
prices and offers hints about the pathway for interest rates. Mr.
Powell is likely to double down on his view that inflation is being
driven by supply-chain bottlenecks that should ease in time, said
Mr. Gimber.
"What Powell has to achieve today is to separate out the timing
of the tapering decision from the timing of future rate increases,"
said Mr. Gimber. "They want to stress they are data dependent, and
they are willing to be patient."
CVS Health and Marriott International are among the companies
set to report earnings ahead of the opening bell Wednesday.
Qualcomm and Fox are set to release quarterly figures after markets
close, while Costco Wholesale will release sales data.
Investors also have a raft of economic data to digest. ADP's
employment report is due to be released at 8:15 a.m., followed by
figures on factory orders and a gauge of service-sector activity at
10 a.m.
Overseas, the Stoxx Europe 600 wavered between small gains and
losses. In Asia, stock markets were mostly lower. Japanese markets
were closed Wednesday for a public holiday.
Forex:
The Fed is widely expected to announce the start of
asset-purchase tapering later Wednesday and the dollar's reaction
will depend on whether it hints at the timing of a first
interest-rate increase, UniCredit said.
"Should the Fed fail to offer new clues on this today (we do not
expect any), the benefit the dollar may obtain from a formal
announcement that the tapering plan would be starting this month
may actually prove not too large and a 'sell-the-fact' logic may
even prevail," it said. In this event, EUR/USD and GBP/USD may
avoid additional selling pressure below 1.15 and 1.36 respectively,
it said.
The Bank of England may unexpectedly hold off on raising
interest rates at Thursday's meeting, causing sterling to extend
its recent losses versus the euro, Danske Bank said.
"We continue to see either an unchanged Bank Rate or a dovish
hike as the most likely outcomes on Thursday when the Bank of
England announces its monetary policy decision (no rate hike being
our base case), which would send EUR/GBP further up," Danske Bank
analyst Lars Sparreso Lykke Merklin said.
A 'dovish hike' would mean the BOE raising interest rates but
issuing a cautious message that could dampen expectations for
further rate increases.
Bonds:
In bonds markets, 10-year U.S. Treasury yields were down to
1.533% from 1.546%.
T. Rowe Price will be on the lookout for comments by Fed
Chairman Jerome Powell on whether interest rates can be raised
during the process of tapering its bond purchases, Nikolaj Schmidt,
chief international economist at the asset manager, said.
"I do not expect that Powell will endorse this but he may give
us some indication that the FOMC would be willing to change, in
particular accelerate, the pace of tapering should this be needed,"
he said. The FOMC has a strong preference for a predictable taper
process, according to T. Rowe Price, for which the main risk is
that the FOMC might opt for an accelerated process should inflation
pressures surprise on the upside, Schmidt said.
Investors should keep an eye on discomfort around the "inflation
is temporary narrative" at the Federal Reserve's meeting, said
Nikolaj Schmidt, chief international economist at T.Rowe Price.
"As time has passed and inflation has remained stubbornly too
high for comfort, I believe that the members of the FOMC have lost
some of their confidence in the idea that inflation is all
temporary," he said.
As supply-chain bottlenecks are likely to extend for some time
to come and services inflation is set to increase due to rents, the
temporary narrative will become increasingly challenging for the
FOMC to preserve, Schmidt said. If the Fed is forced to take a more
assertive stance on inflation, the economist would expect some
hints at this at the coming meeting, he added.
The risk has increased that the European Central Bank will be
forced into a swifter policy turn, said Martin Wolburg, senior
economist at Generali Investments, although he doesn't expect a
first interest-rate rise in 2022. The key message at the ECB's
October meeting last week was that the ECB continues to stick to
its view of higher inflation being transitory, even as it
acknowledges that the abating of inflation takes longer than
previously thought, Wolburg said.
"While markets remained more sceptical about the inflation
outlook, we stick to our view that there will be no hikes in 2022,"
Wolburg said. "That said, the risks that the ECB is pushed into a
more hawkish stance increases the longer the inflation spike
lasts," he said.
Commodities:
Oil prices were down on the back of bearish U.S. inventory data
released late Tuesday, according to DNB Markets' Helge Andre
Martinsen. Crude oil stocks rose by more than expected, while
gasoline stocks shrank by less than expected, he said.
OPEC+ is set to meet on Thursday and despite persistent pressure
from President Biden--he blamed OPEC+ for inflationary pressures in
the U.S. while at the COP26 climate summit in Glasgow on
Tuesday--the cartel and its allies are "expected to rebuff all
pressure...and continue [their] output strategy of tapering
production cuts by 0.4 million barrels a day per month," Martinsen
said.
Gold edged lower in European trading ahead of the FOMC meeting.
The price of the precious metal is unlikely to change much until
the meeting's conclusion, Commerzbank said.
TODAY'S TOP HEADLINES
Freight Operators' Profits Are Surging in Strained Supply-Chain
Markets
The supply-chain crunch plaguing retailers and manufacturers is
providing an earnings bonanza for freight carriers.
Deere Workers Reject Second Contract Offer, Extending Strike
Workers at Deere & Co. rejected a second contract offer,
extending a strike against the farm equipment and construction
machinery company that has lasted nearly three weeks.
Union employees at 12 Deere facilities voted against the
tentative contract offer agreed to by their negotiators Oct. 30,
the company said late Tuesday. Deere said that employees at two
parts plants in Denver and Atlanta, who work under a separate
contract, voted to approve the offer that had identical economic
terms as the one that the company's other employees rejected.
Mondelez Says Snack Prices to Rise Further as Costs Grow
Mondelez International Inc. said prices for its cookies and
candies would climb further in the months ahead as the snacking
company aims to stay ahead of escalating costs.
The maker of Oreo cookies, Toblerone chocolate and Sour Patch
Kids candy is raising prices around the world, executives said
Tuesday, as Mondelez pays more for ingredients, transportation and
wages and as demand for its products grows.
Activision Shares Tumble on Game Delays
Activision Blizzard Inc.'s shares tumbled in after-hours trading
Tuesday after the company said it is delaying the launch of two
games and reported third-quarter earnings with a holiday-season
outlook falling short of Wall Street analysts' expectations.
A sequel to the 2016 hit "Overwatch" and a new installment of
"Diablo" will come out later than previously planned, the company
said, citing recent leadership changes at the Blizzard
Entertainment unit making them. Several of those changes came
shortly after the company was sued in July by a California
regulator over allegations of gender-based discrimination,
harassment and retaliation.
Lyft Reports Higher Revenue as Ridership Returns
Lyft Inc. said revenue climbed in the latest quarter, as
consumers continue to pay higher prices because of the shortage of
drivers and the increase in rider demand.
The San Francisco company's revenue increased 73% to $864
million from the year-earlier period, as its ridership edged closer
to pre-pandemic levels. The company reported 18.9 million active
riders in the quarter, up from 12.5 million a year earlier. Lyft
had 22.9 million active riders at the end of 2019.
Printer R.R. Donnelley & Sons Nears Deal to Go Private
Commercial-printing company R.R. Donnelley & Sons Co. is
nearing a deal to sell itself to a private-equity firm for just
over $2 billion including debt, according to people familiar with
the matter.
Greenwich, Conn.-based Atlas Holdings is expected to pay around
$8.50 a share to take R.R. Donnelley private, the people said. A
deal could be unveiled as soon as Wednesday, when the company is
set to report third-quarter earnings, assuming the talks don't fall
apart.
Following the Journal report of a possible deal with Atlas,
investment firm Chatham Asset Management LLC raised its takeover
offer for R.R. Donnelley to $9.00 to $9.50 a share in cash. Chatham
in October offered $7.50 a share.
Zillow Quits Home-Flipping Business, Cites Inability to Forecast
Prices
Real-estate firm Zillow Group Inc. is exiting from the
home-flipping business, saying Tuesday that its algorithmic+ model
to buy and sell homes rapidly doesn't work as planned.
The firm's termination of its tech-enabled home-flipping
business, known as "iBuying," follows Zillow's announcement about
two weeks ago that it was halting all new home purchases for the
rest of the year. At the time, Zillow pointed to labor and supply
shortages for its inability to renovate and flip houses fast
enough.
Justice Department Sues to Block Penguin Random House's
Acquisition of Simon & Schuster
WASHINGTON-The Justice Department filed a lawsuit Tuesday that
seeks to block Penguin Random House from acquiring rival Simon
& Schuster for nearly $2.18 billion, the latest in a series of
aggressive antitrust cases brought under the Biden
administration.
The department's complaint, filed in federal court in
Washington, D.C., focused not on the prices consumers pay for
books, but instead on the competition between publishers to secure
rights from authors, especially bestselling ones. The industry paid
authors over $1 billion in advances last year.
Facebook to Shut Down Facial Recognition in Photos, Videos
Facebook said it is shutting down its facial-recognition system
in the coming weeks, scrapping a feature that has developed into a
key tool for sharing photos on social media but has raised concerns
among privacy advocates and regulators
The move continues a dramatic reshaping of the tech giant in
recent weeks, which includes pausing the development of an
Instagram for children product and a rebranding of the entire
company to Meta Platforms Inc. to focus on a future beyond social
media.
Fed Prepares to Taper, but Markets Crave More Insight on Rate
Rises
The Federal Reserve is likely to announce Wednesday that it will
begin steadily reducing its bond-buying program, the biggest step
the central bank has taken toward reversing its pandemic-era
stimulus.
The decision to wind down, or taper, those purchases this month
has been so heavily telegraphed by Fed officials that the focus of
the two-day meeting that ends Wednesday has shifted toward how they
will characterize inflation risks-which carries important
implications for how soon they might raise interest rates.
Negative Bond Yields Recede in Europe
Negative bond yields are getting harder to find in Europe,
shrinking the pool of debt that pays back less to investors than
they put in.
French, Irish, Dutch and Swiss yields have all either turned
positive or flirted with the line in recent weeks and months.
German 10-year bond yields, the region's benchmark, are still
negative, but rose as high as negative 0.07% this week, the closest
they have come to turning positive since April 2019.
SEC Chairman Says Crypto Market Won't Mature Without
Oversight
Securities and Exchange Commission Chairman Gary Gensler said
the regulator will be "very active" in bringing the digital
currency market under its investor protection framework, as the
Biden administration increases scrutiny of cryptocurrencies.
Mr. Gensler's comments Tuesday at a conference hosted by the
Securities Industry and Financial Markets Association came a day
after a Treasury Department-led panel issued a report on
stablecoins, which are cryptocurrencies pegged to assets such as
the U.S. dollar. The report asks Congress to impose a new
regulatory framework around stablecoins and to limit the issuance
of such digital assets to banks.
China Services Activity Maintains Robust Growth in October
A private gauge of China's services sector activity maintained
robust growth in October, hitting its highest level since July amid
the weeklong National Day holiday and relaxation of
social-distancing measures.
The Caixin China services purchasing managers index rose to 53.8
in October from 53.4 in September, Caixin Media Co. and research
company IHS Markit said Wednesday. The gauge came in above 50,
which separates expansion from contraction.
Biden Picks Wall Street Critic Saule Omarova to Oversee Large
Banks
WASHINGTON-The Biden administration formally nominated Saule
Omarova, a law professor and critic of big banks, to serve as a top
banking regulator, a setback for Wall Street and other firms that
had pushed to scuttle her nomination.
The move Tuesday comes about a month after the administration
said it intended to nominate the Cornell University law professor
to serve as the Comptroller of the Currency, a powerful regulator
charged with overseeing large national banks.
CDC Recommends Pfizer-BioNTech Covid-19 Vaccine in Young
Children
The Centers for Disease Control and Prevention recommended use
of Pfizer Inc. and BioNTech SE's Covid-19 vaccine among children
ages 5 to 11 years, opening the door for immunizations to
start.
The endorsement, by CDC Director Rochelle Walensky on Tuesday,
was the last step before doctors, nurses and pharmacists could
start giving the shots.
Democrats Reach Deal on Lowering Prescription Drug Prices
WASHINGTON-Democrats reached an agreement on provisions designed
to lower the price of some prescription drugs, appearing to resolve
one of the final issues in the party's negotiations over their
$1.85 trillion healthcare, education and climate-change bill.
The agreement, which is backed by the White House, would empower
Medicare to negotiate the price of some drugs, penalize drug
companies for raising prices faster than the rate of inflation and
cap out-of-pocket costs for seniors at $2,000 annually. It also
creates a $35 out-of-pocket monthly maximum for insulin, Democrats
said.
Glenn Youngkin Wins Virginia Governor Race
Republican Glenn Youngkin was elected governor of Virginia on
Tuesday, halting a yearslong trend of Democratic electoral gains in
the state and giving the GOP a potential playbook in competitive
parts of the U.S. ahead of next year's congressional midterm
elections.
Mr. Youngkin, a 54-year-old former private-equity executive and
political newcomer, defeated Democrat Terry McAuliffe, a party
stalwart who served as governor from 2014 to 2018, according to the
Associated Press.
Michelle Wu Is First Woman Elected Boston Mayor
Boston voters chose city councilor Michelle Wu as mayor, making
her the first woman and first person of color elected to lead
Massachusetts' capital.
The Associated Press declared Ms. Wu, 36 years old, to be the
winner Tuesday night over Annissa Essaibi George, also a city
councilor. Ms. Wu had 60% of votes in the two-person race with 52%
of precincts reporting. Both are Democrats, though the Boston
mayoral race is officially nonpartisan.
Supreme Court Weighs Challenge to New York State's
Concealed-Weapons Permit Law
WASHINGTON-The Supreme Court on Wednesday will consider a
challenge to New York state's century-old system for issuing
concealed-weapons permits, potentially paving the way for a new
expansion of the Second Amendment right to keep and bear arms.
After gun violence spiked in the early 20th century, New York
enacted legislation limiting concealed-weapons licenses to
individuals of "good moral character" with "proper cause" for a
license. In Wednesday's case, two gun owners from upstate
Rensselaer County and a New York affiliate of the National Rifle
Association argue the law is unconstitutional because it requires
them to provide specific reasons for carrying concealed weapons in
public beyond their general fear of crime.
Write to sarka.halas@wsj.com
COP26 ROUNDUP ############### ###############
Financial System Makes Big Promises on Climate Change at COP26
Summit
Most of the world's big banks, its major investors and insurers,
and its financial regulators have for the first time signed up to a
coordinated pledge that will incorporate carbon emissions into
their most fundamental decisions.
The lenders and investors say they will help fund a shift that
will reduce carbon emissions by businesses and spur the growth of
industries that can help limit climate change. Regulators are
putting in place new rules to oversee the shift.
The United Nations' Glasgow Financial Alliance for Net Zero says
financial groups with assets of $130 trillion have committed to its
program to cut emissions. That is enough scale to generate $100
trillion through 2050 to fund investments needed for new
technologies, and enough reach to impose pathways for corporations
and financial institutions to restructure themselves, the group
said.
Biden Says Xi, Putin Cede Climate Influence by Missing Glasgow
Summit
President Biden criticized the leaders of China and Russia for
not joining other heads of state at the climate summit in Glasgow,
arguing they were ceding their global influence.
"I think it's been a big mistake, quite frankly," Mr. Biden said
Tuesday on the sidelines of the summit. "The rest of the world is
going to look to China and say, what value add are they providing?
They've lost an ability to influence people around the world and
all the people here."
He said he felt the same way about Russia. "Literally, the
tundra is burning," Mr. Biden said of Russian President Vladimir
Putin. "He has serious climate problems and he is mum on his
willingness to do anything."
COP26 Leaders Agree to End Deforestation by 2030
GLASGOW-World leaders from more than 100 countries, including
the U.S., China and Brazil, agreed to a deal aimed at ending and
then reversing deforestation by 2030, committing nearly $20 billion
of public and private funds to protect and restore forests.
U.K. Prime Minister Boris Johnson, during the COP26 climate
summit in Scotland on Tuesday, called the pledge a landmark
agreement that includes countries accounting for 85% of the world's
forest land. But details about how such a deal, which isn't legally
binding, would be executed and policed haven't yet been worked
out.
World Leaders Vow to Cut Methane Emissions
Global leaders at the Glasgow climate summit pledged Tuesday to
sharply curtail methane emissions, with President Biden saying the
U.S. would tighten regulations on oil and natural-gas production to
reduce leaks of the potent greenhouse gas.
The effort spotlighted growing concerns about the environmental
harms of methane, a byproduct of drilling, livestock and landfills
that traps roughly 85 times more heat than carbon dioxide.
"One of the most important things we can do in this decisive
decade...is to reduce our methane emissions as quickly as
possible," Mr. Biden said at a summit event marking progress on the
Global Methane Pledge, an initiative led by the U.S. and the
European Union to cut methane emissions by 30% globally by
2030.
Why COP26 will make 'strong' companies 'stronger and the weak,
relatively weaker'
World leaders are soaking up the spotlight at the Glasgow
climate summit, but the pressure to implement whatever is agreed
will fall largely on companies, noted analysts at Deutsche Bank.
And that's going to create divisions between the corporate haves
and have-nots.
Read: India's Modi surprises COP26 climate summit with 2070
target for net-zero emissions
The analysts screened 15 years of corporate documents, counting
the number of times "ESG," the acronym for environmental, social
and governance criteria, and "cost" appeared within five words of
each other. As the chart below shows, the frequency has jumped in
the last two quarters.
Tariffs to Tackle Climate Change Gain Momentum. The Idea Could
Reshape Industries.
Governments in the U.S., Europe and other developed nations are
embarking on a climate-change experiment: using tariffs on trade to
cut carbon emissions. The idea has the potential to rewrite the
rules of global commerce.
Policy makers on both sides of the Atlantic are looking at
targeting steel, chemicals and cement. The tariffs would give a
competitive advantage to manufacturers in countries where emissions
are relatively low.
It's an idea that is gaining acceptance among U.S. businesses,
particularly in those industries, as well as among politicians who
see an opportunity to appeal to domestic manufacturers and their
workers. Over the weekend, the Biden administration announced the
first-ever trade agreement to incorporate such a concept. The pact
with the European Union would jointly curb imports of steel that
generate high levels of carbon emissions.
TODAY IN CANADA
Earnings:
AcuityAds Hldgs Inc (AT.T) 3Q
ATS Automation Tooling (ATA.T) 2Q
Brookfield Infras Ptrns (BIP.U.T) 3Q
Calibre Mining Corp.(CXB.T) 3Q
Cenovus Energy Inc.(CVE.T) 3Q
Ceridian HCM Hldg Inc.(CDAY.T) 3Q
DIRTT Environmental Solus (DRT.T) 3Q
Equinox Gold Corp. (EQX.T) 3Q
Franco-Nevada Corp. (FNV.T) 3Q
GFL Environmental Inc (GFL.T) 3Q
goeasy Ltd. (GSY.T) 3Q
Great-West Lifeco Inc. (GWO.T)3Q
Hudbay Minerals Inc (HBM.T) 3Q
iA Fincl Corp. Inc. (IAG.T) 3Q
IAMGOLD Corp. (IMG.T) 3Q
Info Svcs Corp. (ISV.T) 3Q
Keyera Corp. (KEY.T) 3Q
Kirkland Lake Gold Ltd.(KL.T) 3Q
Manulife Fincl Corp (MFC.T) 3Q
Maxar Tech Inc. (MAXR.T) 3Q
MEG Energy Corp. (MEG.T) 3Q
NFI Grp Inc. (NFI.T) 3Q
Nomad Royalty Company (NSR.T) 3Q
Pason Syss Inc.(PSI.T) 3Q
Sandstorm Gold Ltd. (SSL.T) 3Q
Sherritt Intl Corp (S.T) 3Q
Spin Master Corp (TOY.T) 3Q
SSR Mining Inc (SSRM.T) 3Q
Stantec Inc (STN.T) 3Q
STEP Energy Svcs Ltd. (STEP.T) 3Q
Sun Life Fincl Inc. (SLF.T) 3Q
Taseko Mines Limited (TKO.T) 3Q
Torex Gold Resources Inc. (TXG.T) 3Q
Tourmaline Oil Corp. (TOU.T) 3Q
Western Forest Products (WEF.T) 3Q
Economic Indicators (ET):
0815 Oct Official International Reserves
Stocks to Watch:
BHP Extends Noront Offer Deadline Amid Talks With Wyloo
BHP Group Ltd. extended the deadline on its takeover offer for
Noront Resources Ltd., saying it has entered talks with shareholder
and rival suitor Wyloo Metals Pty. Ltd. over its stake.
BHP said it is in discussions with Wyloo Metals, owned by
Australian billionaire Andrew Forrest, regarding its potential
support of BHP's 75 Canadian-cent (US$0.60) per share offer to
acquire Noront and that the initial expiry of its offer has been
extended--to Nov. 16 from Nov. 9--to allow for those discussions to
progress.
"The earliest time BHP will be taking up Noront shares under its
bid will be at the new expiry time," BHP said in a statement.
BHP and Wyloo have been in a bidding war for Noront, which is
focused on developing deposits in northern Ontario that contain
metals such as copper and nickel, expected to be in high demand as
the world decarbonizes.
Expected Major Events for Wednesday
00:01/UK: 4Q CBI SME Trends Survey
06:00/RUS: Oct Russian Services PMI
07:00/UK: Oct Nationwide House Price Index
09:00/ITA: Sep Unemployment
09:30/UK: Oct CIPS / Markit Services PMI
09:30/UK: Oct UK Official Reserves
09:30/UK: Oct Narrow money (Notes & Coin) and reserve
balances
11:00/US: 10/29 MBA Weekly Mortgage Applications Survey
12:15/US: Oct ADP National Employment Report
12:15/CAN: Oct Official International Reserves
13:45/US: Oct US Services PMI
14:00/US: Sep Metropolitan Area Employment &
Unemployment
14:00/US: Sep Manufacturers' Shipments, Inventories & Orders
(M3)
14:00/US: Oct ISM Report On Business Services PMI
14:30/US: 10/29 EIA Weekly Petroleum Status Report
18:00/US: U.S. interest rate decision
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Wednesday
Air Industries Group (AIRI) is expected to report for 3Q.
Ares Commercial Real Estate (ACRE) is expected to report $0.31
for 3Q.
BGC Partners (BGCP) is expected to report $0.05 for 3Q.
Belden (BDC) is expected to report $0.93 for 3Q.
BlackRock TCP Capital Corp (TCPC) is expected to report $0.32
for 3Q.
BorgWarner Inc (BWA) is expected to report $0.65 for 3Q.
Brinker International (EAT) is expected to report $0.78 for
1Q.
Broadridge Financial Solutions Inc (BR) is expected to report
$0.61 for 1Q.
CDW Corp (CDW) is expected to report $1.86 for 3Q.
CSW Industrials Inc (CSWI) is expected to report $1.47 for
2Q.
Camping World Holdings Inc (CWH) is expected to report $1.76 for
3Q.
Cenovus Energy Inc (CVE,CVE.T) is expected to report $0.45 for
3Q.
Charles River Laboratories International Inc (CRL) is expected
to report $1.95 for 3Q.
Dorian LPG Ltd (LPG) is expected to report $0.09 for 2Q.
Entergy Corp (ETR) is expected to report $2.43 for 3Q.
Everi Holdings Inc (EVRI) is expected to report $0.03 for
3Q.
Horizon Therapeutics PLC (HZNP) is expected to report $1.18 for
3Q.
Humana Inc (HUM) is expected to report $4.53 for 3Q.
Jones Lang LaSalle Inc (JLL) is expected to report $3.49 for
3Q.
Karyopharm Therapeutics Inc (KPTI) is expected to report $-0.67
for 3Q.
LSI Industries (LYTS) is expected to report $0.13 for 1Q.
Lumber Liquidators (LL) is expected to report $0.30 for 3Q.
MGP Ingredients (MGPI) is expected to report $0.40 for 3Q.
National Energy Services Reunited Corp (NESR) is expected to
report $0.07 for 3Q.
New Fortress Energy LLC (NFE) is expected to report $0.31 for
3Q.
NiSource Inc (NI) is expected to report $0.10 for 3Q.
Owens & Minor Inc (OMI) is expected to report $0.58 for
3Q.
PROG Holdings Inc (PRG) is expected to report for 3Q.
Pacira Pharmaceuticals (PCRX) is expected to report $0.40 for
3Q.
Pitney-Bowes Inc (PBI) is expected to report $0.07 for 3Q.
R.R. Donnelley & Sons Co (RRD) is expected to report $0.24
for 3Q.
SiteOne Landscape Supply (SITE) is expected to report $1.18 for
3Q.
Stagwell Inc (STGW) is expected to report for 3Q.
Steve Madden (SHOO) is expected to report $0.76 for 3Q.
Superior Industries (SUP) is expected to report $-0.33 for
3Q.
Superior Uniform Group Inc (SGC) is expected to report $0.51 for
3Q.
Syneos Health Inc (SYNH) is expected to report $0.63 for 3Q.
Tupperware Brands Corp (TUP) is expected to report $0.73 for
3Q.
United Therapeutics Corp (UTHR) is expected to report $3.59 for
3Q.
Wingstop Inc (WING) is expected to report $0.36 for 3Q.
Powered by Kantar Media and Dow Jones.
ANALYST RATINGS ACTIONS
Alcoa Raised to Buy From Hold by Jefferies
Bright Health Gr Cut to Market Perform From Outperform by Cowen
& Co.
BrightSpire Capital Raised to Outperform From Market Perform by
Raymond James
Chegg Cut to Equal-Weight From Overweight by Morgan Stanley
Chegg Cut to Hold From Buy by Craig-Hallum
Chegg Cut to Hold From Buy by Needham
Chegg Cut to Market Perform From Outperform by Raymond James
Chegg Cut to Neutral From Overweight by Piper Sandler
Clorox Cut to Underweight From Neutral by JP Morgan
Discover Financial Raised to Buy From Neutral by Seaport
Global
Enerpac Tool Group Raised to Equal-Weight From Underweight by
Wells Fargo
EverQuote Cut to Neutral From Overweight by JP Morgan
Expedia Group Cut to Neutral From Overweight by Atlantic
Equities
Exxon Mobil Cut to Sell From Hold by Truist Securities
FirstEnergy Raised to Equal-Weight From Underweight by Wells
Fargo
Five9 Cut to In-Line From Outperform by Evercore ISI Group
Ford Motor Cut to Reduce From Neutral by Nomura Instinet
Franklin Resources Raised to Outperform From Market Perform by
Keefe, Bruyette & Woods
JELD-WEN Cut to Peer Perform From Outperform by Wolfe
Research
ONE Gas Raised to Buy From Neutral by UBS
Patterson-UTI Raised to Buy From Underperform by B of A
Securities
Skechers Cut to Hold From Buy by Argus Research
Triterras Cut to Neutral From Buy by B. Riley Securities
ZoomInfo Technologies Raised to Buy From Neutral by UBS
This article is a text version of a Wall Street Journal
newsletter published earlier today.
(END) Dow Jones Newswires
November 03, 2021 06:16 ET (10:16 GMT)
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