Disney, T-Mobile, CVS, Activision Blizzard, and other stocks for investors to watch this week

  • By Nicholas Jasinski,
  • Barron's
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It’s another packed week of second-quarter results, as 125 S&P 500 (.SPX) companies report. Monday begins with results from Clorox (CLX), McKesson (MCK), Take-Two Interactive Software (TTWO), and Tyson Foods (TSN). On Tuesday, Activision Blizzard (ATVI), Fox (FOX), and Walt Disney (DIS) report, followed by CVS Health (CVS) and Western Digital (WDC) on Wednesday. Thursday brings results from Booking Holdings (BKNG), Bristol Myers Squibb (BMY), T-Mobile US (TMUS), and ViacomCBS (VIAC). Finally, EOG Resources (EOG), Kimco Realty (KIM), and Ventas (VTR) report on Friday.

The main event on this week’s economic calendar is the July U.S. employment report from the Bureau of Labor Statistics on Friday. Economists expect it to show 2 million new jobs—after 4.8 million in June—and an unemployment rate of 10.5%, down from 11.1% in the prior month.

Other data releases include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by its Services equivalent on Wednesday. On Thursday, the Department of Labor reports initial jobless claims for the week ending on Aug. 1, which will provide a more current snapshot of the U.S. labor market than Friday’s numbers. Claims have climbed in the past two weeks after steadily declining since late March.

Monday 8/3

American International Group (AIG), Clorox (CLX), Global Payments (GPN), HSBC Holdings (HSBC), McKesson (MCK), SBA Communications (SBAC), Take-Two Interactive Software (TTWO), and Tyson Foods (TSN) report quarterly results.

The Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 53.6 reading, up from June’s 52.5. The June data reversed three months when the index was below the expansionary level of 50.

The Census Bureau reports residential construction spending data for June. Expectations are for a 1.3% rise to a seasonally adjusted annual rate of $1.37 trillion.

Tuesday 8/4

Activision Blizzard (ATVI), Emerson Electric (EMR), Fox (FOX), Incyte (INCY), Pioneer Natural Resources (PXD), Prudential (PUK), Sony (SNE), Vulcan Materials (VMC), Walt Disney (DIS), and Zimmer Biomet Holdings (ZBH) report earnings.

Wednesday 8/5

ADP releases its National Employment report for July. Economists forecast that the economy added 2.1 million private-sector jobs, building on June’s gain of 2.37 million.

AmerisourceBergen (ABC), BorgWarner (BWA), CVS Health (CVS), Honda Motor (HMC), Metlife (MET), Regeneron Pharmaceuticals (REGN), Sempra Energy (SRE), Welltower (WELL), and Western Digital (WDC) report quarterly results.

ISM releases its Non-Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 55.8 reading, edging down from June’s 57.1.

Thursday 8/6

Becton Dickinson (BDX), Booking Holdings (BKNG), Bristol-Myers Squibb (BMY), Illumina (ILMN), Motorola Solutions (MSI), T-Mobile US (TMUS), Toyota Motor (TM), ViacomCBS (VIAC), and Zoetis (ZTS) report earnings.

The Bank of England announces its monetary-policy decision. The central bank is expected to keep its key interest rate at a record low 0.1%

The Department of Labor reports initial jobless claims for the week ending on Aug. 1. Claims remain above the one million mark, which would have been a record high before this year. In the last two weeks of July, jobless claims rose from the preceding week for the first time since peaking at 6.9 million in late March, as parts of the country shuttered again due to rising Covid-19 cases.

Friday 8/7

Ameren (AEE), EOG Resources (EOG), Kimco Realty (KIM), and Ventas (VTR) hold conference calls to discuss earnings.

The Bureau of Labor Statistics releases the jobs report for July. Economists forecast a gain of two million nonfarm jobs, adding to June’s 4.8 million jump. The unemployment rate is expected to fall to 10.5% from 11.1%. The unemployment rate hit a record high 14.7% in April.

The Federal Reserve releases consumer credit data for June. Outstanding consumer credit has fallen for three consecutive months as the pandemic has cut into consumer spending.

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