First-quarter earnings season continues this week as 143 S&P 500 companies report their results. Tyson Foods goes first on Monday, followed by a busy Tuesday: Walt Disney, Newmont, Regeneron Pharmaceuticals, DuPont, Activision Blizzard, and Electronic Arts all report. On Wednesday, General Motors, CVS Health, PayPal Holdings, and T-Mobile US release results. Bristol-Myers Squibb, Hilton Worldwide Holdings, Raytheon Technologies, Otis Worldwide, and ViacomCBS report on Thursday. Finally, Carrier Global closes out the week on Friday.
Investors and economists will be waiting for Jobs Friday. The Bureau of Labor Statistics is set to release April U.S. labor-market figures before the market opens on Friday. There’s a wide range of estimates, but they all call for a massive jump in unemployment last month. The average of all the figures is for a decline of 21 million nonfarm payrolls, and an unemployment rate of 16%.
Other notable releases this week include the Institute for Supply Management’s Non-Manufacturing Purchasing Managers’ Index for April on Tuesday and the Department of Labor’s initial jobless claims data for the week ending on May 2 on Thursday.
Monday 5/4
Mosaic, Public Service Enterprise Group , Sempra Energy ,Tyson Foods, Vornado Realty Trust , and Westinghouse Air Brake Technologies report quarterly results.
Tuesday 5/5
Activision Blizzard,Walt Disney, Devon Energy ,DuPont,Electronic Arts, Incyte , Marathon Petroleum , Martin Marietta Materials ,Newmont, and Regeneron Pharmaceuticals report earnings.
American Express and General Electric hold their annual shareholder meetings.
The Institute for Supply Management releases its Non-Manufacturing Purchasing Managers’ Index for April. Consensus estimates are for a 36 reading, sharply lower than March’s 52.5. The index was last below the expansionary level of 50 in late 2009.
Wednesday 5/6
ADP releases its National Employment Report for April. Economists forecast a loss of 20 million nonfarm private sector jobs, by far the steepest monthly drop ever,
Alexion Pharmaceuticals , Ameriprise Financial, BorgWarner ,CVS Health, General Motors,PayPal Holdings,T-Mobile US, and Zoetis report quarterly results.
Costco Wholesale reports sales for April.
Thursday 5/7
Becton Dickinson , Bristol-Myers Squibb, Consolidated Edison ,Danaher,Hess, Hilton Worldwide Holdings, NRG Energy ,Otis Worldwide, Raytheon Technologies, and ViacomCBS report earnings.
The Bureau of Labor Statistics reports preliminary estimates for worker productivity and unit labor costs for the first quarter. Expectations are for a seasonally adjusted annual rate decline of 2.8% for productivity and 5% fall for costs. This compares with rises of 1.2% and 0.9%, respectively, in the fourth quarter of last year.
The Department of Labor reports initial jobless claims for the week ending on May 2. In the past six weeks, more than 30 million Americans have filed for unemployment benefits, roughly 18% of the workforce.
The Federal Reserve reports consumer credit data for March. Outstanding consumer credit is seen rising by $21 billion, to $4.25 trillion.
Friday 5/8
Broadridge Financial Solutions , Carrier Global, EOG Resources , and Noble Energy hold conference calls to discuss quarterly results.
Mondelez International hosts an investor event during which CEO Dirk Van de Put will discuss the company’s sustainability initiatives.
The Bureau of Labor Statistics releases the jobs report for April. Consensus estimates are for a decline of 21 million nonfarm payrolls, after a loss of 701,000 in March. The unemployment rate is expected to skyrocket from 4.4% to more than 16%.
Write to Nicholas Jasinski at nicholas.jasinski@barrons.com
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May 04, 2020 at 02:00AM
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Disney, General Motors, T-Mobile, and Other Stocks for Investors to Watch This Week - Barron's
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