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Department store operator Kohl's Corp posts second-quarter results on Thursday. The company could lower its full-year forecast, analysts warn, after first-quarter sales and profit were hurt by colder-than-usual weather in February and West Coast port issues. Investors will look for comments on back-to-school sales, and whether its efforts to integrate online and in-store shopping are translating into higher sales.
Perfume maker Coty Inc made news in July, entering an agreement with Procter & Gamble to buy 43 brands including Wella and Clairol for $12.5 billion. A senior executive said last quarter Coty's celebrity perfume business was a dying phenomena. The company's fourth-quarter revenue is expected to miss estimates. Investors will look out for comments on the recent acquisition and forecasts, when it reports on Thursday.
On Friday, department store operator J.C. Penney Co Inc is expected to report second-quarter profit above analysts' average estimate. CEO Myron Ullman, credited with reviving sales and profit, has stepped aside, handing over the reins to former Home Depot exec Marvin Ellison, who began his job on Aug 1. Investors will be keen on hearing Ellison's plans as he embarks on his first quarter as CEO.
News Corp, the owner of the Wall Street Journal, is expected to miss analysts' average estimate in the fourth quarter on Wednesday. Like many traditional publishers, News Corp has been countering falling ad sales in the print business by slashing costs and tapping new revenue sources. Revenue in its News and Information Services unit, which represents about 65 percent of the company's overall revenue, has been hit as more customers cancel subscriptions and move to free websites for their daily dose of news. The company has been carrying out a major reorganization at its Dow Jones news publishing unit by cutting jobs and shifting resources to digital media.
On Tuesday, silver streaming company Silver Wheaton Corp is expected to report lower second-quarter profit due to a rise in costs. The company pioneered streaming, which involves providing financing to miners for the right to buy a percentage of their future metal production. The focus this quarter will be on a Canada Revenue Agency audit, which could result in Silver Wheaton having to pay $200 million or more in taxes and penalties. CRA is looking to tax the company for income earned by its foreign units between 2005 and 2010.
King Digital Entertainment Plc is expected to report second-quarter profit below estimates on Thursday. The "Candy Crush Saga" creator is likely to have been hurt by a strong dollar. King has also struggled to boost its bookings due to the lack of new releases. Investors will look for commentary around new titles scheduled to be launched in the second half of the year.
On Thursday, El Pollo LoCo Holdings Inc is expected to report second-quarter profit below analysts' average estimates. The restaurant chain operator reported weak comparable sales and recorded the slowest growth in customer traffic since its debut in the first quarter, hurt by intense competition. Investors will be looking if the weakness in comparable sales carried on in the second quarter and if the company will cut its full-year forecast.
On Tuesday, the National Statistics Institute will release Mexico's industrial production data for June after the May figure registered the biggest fall in over a year as manufacturing and construction activity tumbled. On Wednesday, Mexico's central bank will release its quarterly inflation report where it will revise its growth forecast for the year from between 2-3 percent. On Thursday, the bank will release minutes of its July decision to hold borrowing costs at a record low of 3 percent, and may hint at when it could begin hiking interest rates.
MONDAY, AUGUST 10 Car rental company Hertz Global Holdings Inc is expected to report lower second-quarter revenue and profit, partly due to fewer tourists coming to the United States due to the strong dollar. Hertz gets more than two-thirds of its car rental revenue from on-airport locations. Investors will be looking for an update on its full-year financial forecast.
Web hosting company Rackspace Hosting Inc is expected to report second-quarter profit above analysts' average estimate. Rackspace, which has been facing price competition from Amazon.com, Google and Microsoft, in May forecast weaker-than-expected revenue for the quarter, saying a contract with a "large" financial services company would be realized only in the third quarter. Analysts, however, said the improving demand for Rackspace's hosting services would be able to offset the impact of the contract delay. Investors would be looking for update on the full-year forecast.
The Federal Reserve Bank of Atlanta hosts the "Developing Qualified Workers: Pathways to Employability for High School Students and Graduates" forum, with Atlanta Fed President Dennis Lockhart giving welcome remarks. (0900/1300)
Take-Two Interactive Software Inc, the publisher of video games such as "Grand Theft Auto" and "NBA 2K15", is expected to beat analysts' average estimate in the first-quarter. Growth in its digital sales is expected to drive revenue. The video game industry has been moving from physical sales to digital ones, which has boosted margins. Take-Two CEO had told Reuters in May that he expects majority of the company's revenue in the quarter to come from 'Grand Theft Auto V', 'Grand Theft Auto V for PC' and 'Grand Theft Auto Online'. Investors will look out for any raise in its full-year forecast.
Fast-food operator Shake Shack Inc reports second-quarter results, its third quarterly report since its hugely successful debut. Profit is expected to be better than expected, helped by higher comparable store sales. The company has been successfully expanding its network outside New York City and is likely to benefit from the high demand for fast-casual restaurants in the United States. However, the company is also likely to be have been hurt by higher food costs and lower consumer spending over the past quarter. Investors will be looking for any comments on the same, and if the company is forced to revise full-year forecast due to those factors.
Dean Foods Co, the largest U.S. milk processor, issues second-quarter results. The company reported its first quarterly profit in a year in May by deciding not to pass on lower milk prices to customers. Raw milk prices are coming down, after touching record highs last year, due to a decline in demand from China and Russia's ban on U.S. milk and dairy imports. U.S. cattle herds are also improving after shrinking last year after years of drought. Investors will be looking out for comments on whether the company will bring down retail milk prices and potential customer losses as analysts warned the company could lose business with Albertsons as the supermarket chain operator has been making changes to its vendor list.
LIVECHAT - The weekahead with Reuters senior FX analyst Rob Howard Join Reuters senior FX analyst Rob Howard at 0600 ET/1000 GMT for a look at the week's top topics and implications for the FX market. To join the Global Markets Forum, click (http://bit.ly/1kTxdKD) (All analysts' estimates are according to Thomson Reuters StarMine, unless mentioned otherwise) (Compiled by Nivedita Balu & Hardik Vyas; Editing by Savio D'Souza)