Thursday, August 1, 2019
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WHAT TO WATCH
Thursday will be another busy day filled with corporate earnings.
Dunkin’ (DNKN) has been in the spotlight this month after announcing a partnership with alternative-meat producer Beyond Meat (BYND). The coffee chain has been ramping up new menu items such as the espresso relaunch in the fourth quarter of 2018 as well as the Beyond Meat collaboration.
Same-store sales, a key industry metric, is expected to have risen 1.2% during the second quarter. Dunkin is expected to report adjusted earnings of 82 cents per share on $360.42 million in revenue, according to data compiled by Bloomberg.
In addition, tech giant Square (SQ) is scheduled to release second-quarter results after the closing bell Thursday. Subscription and services fees are expected to slow dramatically to 80%, down from 126% in the first quarter, according to data compiled by Bloomberg. Analysts polled by Bloomberg expect Square to report adjusted earnings of 16 cents per share on $557.82 million in revenue.
Other notable earnings reports scheduled for Thursday include Cigna (CI), Clorox (CLX), Crocs (CROX), General Motors (GM), Kellogg (K), Marathon Petroleum (MPC), Shopify (SHOP), Sprouts Farmers Market (SFM), Verizon (VZ), Wayfair (W), Wingstop (WING), Yeti (YETI), YUM Brands (YUM) before market open; Aphria (APHA), Pinterest (PINS), U.S. Steel (X) after market close.
TOP NEWS
Fed cuts rates for first time since 2008: The Federal Reserve cut interest rates by 25 basis points in its policy-setting meeting on July 31, marking the first time the central bank has reduced the benchmark interest rate since it battled the financial crisis in 2008. The Fed also decided to pre-emptively end its process of shrinking its balance sheet, a process known as quantitative tightening, two months ahead of schedule. [Yahoo Finance]
Also
‘They should really be ashamed:’ Wall Street blasts Fed for getting what it wanted [Yahoo Finance]
Trump unimpressed with Fed rate cut: 'Powell let us down' [Yahoo Finance]
UK manufacturers posts biggest fall in production in 7 years: UK manufacturers are “suffocating” from Brexit and weak global demand, as figures suggest firms suffered the steepest drop in production in seven years in July. [Yahoo Finance UK]
FTC warns cash option may be small for Equifax settlement: The Federal Trade Commission on Wednesday told consumers affected by the Equifax data breach that they are unlikely to get the full $125 cash payment that many sought. Equifax last week reached a $700 million settlement over the massive 2017 data breach that exposed the personal information of 147 million people. The bulk of that money is intended for consumers who were impacted by the breach. [Associated Press]
Impossible Foods' 'Whopper' goes nationwide at Burger King: Impossible Foods’ plant-based burgers will soon no longer be so impossible to get your hands on. Starting August 5, all 7,300 Burger King locations across the country will sell the meatless Whopper – but only while supplies last – for $5.59. Burger King is owned by Restaurant Brands International (QSR). [Yahoo Finance]
MORE FROM YAHOO FINANCE
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Trump weighs drug imports from Canada, gets hammered by pharma lobby
NBA is going crypto, launching blockchain souvenirs from the maker of CryptoKitties
America’s favorite and least favorite fast-food burgers: survey
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