May 4, 2020 / 7:40 PM / in 23 days

What to Watch in the Day Ahead - Tuesday, May 5

(The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users can register at RT/DAY/US. All times in ET/GMT) Walt Disney Co is scheduled to report its second-quarter results. Wall Street will assess the level of damage suffered by the world's most powerful entertainment company as cash cows like its theme parks and cruises are closed or docked. Productions have been delayed as movie theaters remain off-limits. The numbers will also be the first outing for Bob Chapek, the former parks chief, who moved into the driving seat in February, just as COVID-19 spread around the world. The U.S. Commerce Department releases trade balance data for March. Economists polled by Reuters forecast the trade gap probably decreased to $44.0 billion in the month. The U.S. trade deficit dropped to $39.9 billion in February, the lowest level since September 2016. (0830/1230) Data firm IHS Markit is scheduled to release its final U.S. Composite Output Index for April. The flash reading of the index, which tracks the manufacturing and services sectors, plunged to 27.4 in the month. The IHS Markit survey's services sector final Purchasing Managers Index is also due for release. (0945/1345) Activision Blizzard Inc is expected to report a rise in first-quarter revenue, driven by the continued success of its "Call of Duty" franchise as the gaming industry benefits from people staying indoors. Investors will look for the forecast and new games in the pipeline. Electronic Arts Inc is expected to post a fall in fourth-quarter revenue, hurt by a decrease in sales of physical copies of games. Investors will look for the full-year forecast and announcement of new games in the pipeline. Federal Reserve Bank of St. Louis President James Bullard gives brief informal remarks on the macroeconomic and monetary policy outlook amid the COVID-19 pandemic, and participates in moderated conversation via Zoom before the National Association for Business Economics "Perspectives on the Pandemic" webinar. (1400/1800) Separately, Federal Reserve Bank of Atlanta President Raphael Bostic speaks on "How Affordable Housing and Nonprofit Service Providers Can Help Low-Wage Earners during Covid-19 and Beyond" in an Enterprise Community Partners webinar. (1400/1800) Meanwhile, Federal Reserve Bank of Chicago President Charles Evans holds drop-in media conference call. (1000/1400) When Regeneron Pharmaceuticals Inc posts it first-quarter results, it is expected to give a glimpse into the impact of the COVID-19 pandemic on its business. Investors will also watch out for an update on the company's development programs to treat or prevent the infection caused by the virus. U.S. insurer Prudential Financial Inc is set to report results for the first quarter, a period of historic markets volatility spurred by the COVID-19 pandemic. Analysts will look for signs that hedging strategies by Prudential and other insurers will prove effective during the ongoing rout. Italian-American automaker Fiat Chrysler Automobiles NV releases its first-quarter results. It is slowly starting to resume operations at some of its plants in Italy. The largest U.S. oil refiner Marathon Petroleum Corp is expected to post a loss in the first quarter as lockdowns to contain the coronavirus and a price war between oil-producing nations sapped demand for gasoline, jet fuel and other refined products. Investors will want more details about Marathon's cost-cut plans as oil prices remain at historic lows. Shale producer Devon Energy Corp, which has slashed its budget twice within a month, is expected to report a loss in the first quarter compared to a year-ago profit. Investors will look for more details on the company's production and cost expectations as it continues to reposition its asset portfolio to focus on oil-growth properties. Industrial materials maker Dupont De Nemours Inc is expected to beat first-quarter profit expectations riding on coronavirus-induced demand for its personal protection garments. Investors will also closely watch the magnitude of impact on DuPont's key markets, primarily automotive and its plans to battle the global slowdown. Match Group Inc is expected to post a rise in first-quarter revenue, as people confined to their homes during lockdowns spend more time on its dating apps, including Tinder and Plenty Of Fish. Plant-based meat maker Beyond Meat Inc is likely to post an increase in first-quarter revenue and a decline in loss, helped by its partnerships with fast-food chains, including McDonald's. Investors will look for potential changes to 2020 outlook and the company's comments on demand for its products amid the virus outbreak. When Mattel Inc reports its first-quarter results, the company is expected to provide an outlook on sales of Barbie and Hot Wheels toys over the next few months, as the coronavirus pandemic virtually shut down business activity and specialty toy stores. Any update on the toymaker's manufacturing facilities will also be closely watched after rival Hasbro said it was ramping up production. Statistics Canada is expected to show that Canada's trade deficit probably widened to C$2 billion in March from C$983 million in February. (0830/1230) Canadian insurance company Sun Life Financial Inc holds its annual shareholder meeting at its head office in Toronto. The company is also scheduled to report its first-quarter earnings. Brazil's statistics agency IBGE is scheduled to report data on industrial production for March. Industrial output rose 0.5% in February from the month before. Production in February retreated 0.4% from a year earlier. (0800/1200) LIVECHAT- CORONAVIRUS IMPACT: U.S. EARNINGS Carlton Neel, CEO of Chaikin Analytics in New York, speaks on what the U.S. market recovery could look like, the sectors that look the most promising, and his stock-picking strategies. (1000/1400) To join the conversation, click here (Compiled by Sourav Bose in Bengaluru; Editing by Ramakrishnan M.)

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