This week will feature a number of major entries on both sides of the Atlantic. London has AB Foods and BAE Systems. Fever Tree, Diageo, IG Group, EasyJet, and Wizz Air are all on London’s corporate calendar.
Over the ocean, earnings reports will include eagerly awaited updates by Tesla, Microsoft, and GE as well as IBM, Visa, Chevron, and IBM.
The week’s macro issues include surveys by purchasing managers (PMI) for the UK, other major economies, US inflation and GDP and an expected increase in interest rates from the Bank of Canada.
MONDAY 23 JANUARY
At the beginning of the week, the diary isn’t quiet. Defence sector giant BAE Systems PLC will be opening its doors (LSE:BA.). The final results will be revealed.
According to Barclays analysts, they are expected to be solid and accompanied by a bullish outlook coming from the blue-chip group.
Important announcements made Monday
Interims: Oxford Cannabinoid Technologies Holdings PLC (LSE:OCTP, OTCQB:OCTHF), Van Elle PLC
Finals: BAE Systems PLC, (LSE:BA.)
AGMs: Midatech Pharma PLC (AIM:MTPH)
TUESDAY 24 JANUARY
Primark’s owner, Associated British Foods PLC(LSE:ABF), continues to carry the retail theme of recent weeks.
It is expected that it will have enjoyed a strong December at its fast-fashion chain in the UK, and its grocery brands are also expected to have benefited from inflation.
Microsoft Corporation (NASDAQ.MSFT) is carrying the big tech earnings season across the Pond. This week’s news comes fresh from the loss of 10,000 jobs.
Markets were disappointed in October by a weak first quarter. Profits fell due to higher costs and soft demand. Talk about the acquisition of a stake at ChatGPT operator OpenAI in the second quarter numbers.
Analyst Matt Britzman from Hargreaves Lansdown stated that the implications of the underlying technology may have far-reaching consequences and that this deal, together with the implied valuation for OpenAI, could mark a turning point in the wider adoption of artificial intelligence.
Redmond’s earnings announcement will follow the New York closing bell, while numbers from 3M and GE before the open will be available.
For the first week of January, macro news will feature a new round of PMI surveys in the manufacturing and services sectors of the major economies.
Important announcements made Tuesday
Finals: Oxford BioDynamics PLC, Sureserve Group and Velocity Composites PLC
Interims: Accrol Group Holdings PLC (AIM:ACRL)
Trading updates: Associated British Foods PLC (LSE:ABF), Boot PLC
AGMs: C4X Discovery Holdings PLC, Marstons PLC
Economic Updates: PMI Composite (UK), PMI Manufacturing(UK), PMI Services(UK), PMI composite (US), PMI Manufacturing/US), PMI Services/US), Public Sector Net Borrowing – UK
Tuesday’s US earnings: Microsoft, Verizon and 3M Co (NYSE.MMM), General Electrics (NYSE.JNJ), Intuitive Surgical, (NASDAQ:ISRG).
WEDNESDAY 25 JANUARY
Budget airline EasyJet PLC reports that summer holidays are booked at the midweek and during the year.
The sector peer WizzAir will be updating a day later with the first quarter update. This update will show all trade-down trends among airline passengers.
CMC Markets PLC (LSE:CMCX) should also provide a quarterly report. They recently added ESG scores and data to assets that can be traded on their new stockbroking platform.
Tesla Inc (NASDAQ:TSLA), will later in the day park its fourth-quarter earnings. These earnings are due to a disappointing delivery update, leaving analysts still divided.
Many people lamented the end of the “Cinderella ride”, while others stated that the company is at an important “fork in the road”, but remains well-positioned to capitalize on the electrification of road transport.
Earnings can also be found elsewhere in the US at AT&G, and Boeing before the opening, and IBM after the close.
We have some important announcements for Wednesday
Finals: Watkin Jones PLC (AIM:WJG)
Trading updates: CMC Markets PLC – LSE:CMCX, Fresnillo PLC – Fresnillo PLC – Fresnillo PLC – Fresnillo PLC – Fresnillo PLC — Fresnillo PLC LSE :FRES), Hvivo PLC — Quilter PLC LSE :QLT), TI Fluid Systems PLC LSE :TIFS, Tullow Oil PLC PLC (LSE TLW)
AGMs: Infrastructure India PLC and Lowland Investment Company PLC. Majedie Investments PLC
Economic Updates: MBA Mortgage Applications (US), Crude Oil Inventories US), Producer Price Index UK
US earnings Wednesday: Tesla and AT&T, Automatic Data Processing; Boeing, International Business Machines; ServiceNow Inc
THURSDAY 26 JANUARY
Before the half-year results, Diageo PLC (LSE:DGE), brokers had conflicting views.
One analyst cited several reasons for the reductions in its estimates, including indications of downtrading trends, inflation impacts on demand across the US and Europe, and volatility in China.
Analyst opinions about Fever-Tree are mixed elsewhere in the drinks industry, ahead of a trading update. The mixer manufacturer is expected to provide crucial guidance on costs and margins.
Wizz Air Holdings PLC, (AIM:WIZZ), follows peer EasyJet. Its shares have outperformed sector peers and investors hope that, although the outlook is bullish on cutting losses as well as revealing details about its Saudi Arabian plans, it will still be a strong performer.
Online stock broker IG Group Holdings Plc will also report on a generally positive first half.
The FTSE 250-listed company was last reported to us in September. It said that revenue for the first quarter rose 11%. However, recent updates from competitors pointed to a slight slowdown during December.
The focus in the States is on financials. Visa and Mastercard earnings are before the opening bell, while Blackstone and Mastercard earnings are after.
Important announcements Thursday
Finals: IDOX PLC, (AIM:IDOX).
Interims: Diageo PLC (LSE:DGE), IG Group PLC, Rank Group PLC (LSE:RNK), Time Finance plc
Trading updates: 3i Group PLC(LSE-III), Entain–BetMGM and Fevertree PLC; Intermediate Capital Group (LSE :ICP) PLC. St James Place PLC. Tate & Lyle PLC. LSE:TATE), WizzAir Holdings PLC. (AIM:WIZZ)
AGMs: Auction Technology Group PLC(LSE :ATG), Barings Emerging EMEA Opportunities PLC and Britvic PLC(LSE :BVIC), Greencore Group PLC [LSE :GNC], Henderson European Focus Trust PLC (“LSE :HEFT”)
Economic updates: Durable Goods Orders (US), Balance of Trade (US), Gross Domestic Pro (US), Initial Jobless Claims(US), Personal Consumption Expensitures (US), New Homes Saless (US).
Thursday’s earnings in the US: Visa, Blackstone and Mastercard, Intel Corp
FRIDAY 27 JANUARY
It is likely to be a quiet week’s end.
Paragon Banking Group PLC, (LSE:PAG), follows up on December’s final results with a trading update. The specialist lender and bank group offer perhaps a preview for its larger competitors that will be coming to market next month with their numbers.
It stated last month that the economic environment has made it volatile, but it was entering 2023 with “strong margins, high-quality loan books, robust pipelines and strong capital, careful provisioning, and well-developed franchises across all of our operating divisions.”
We will also hear from Industrials REIT. It reported strong occupier demand in December driving “substantial” rental uplifts. The REIT said that it was well-positioned to weather rising debt costs and valuation pressures.
Investors in Shell might be interested in Chevron’s earnings from the US ahead of its fourth-quarter results in February.
Important announcements Friday
Trading updates: Industrials REIT Ltd, LSE:MLI. JSE:MLI), Paragon Banking Group PLC. (LSE :PAG).
AGMs: Avon Protection PLC, Henderson Far East Income Ltd and On The Beach Group PLC
Economic Updates: Personal Consumption Expenditure, Personal Incomes (US), Individual Spending (US), Pending Homes Sales. US
American Express and Chevron earn US earnings Friday
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