Hello friends and Coins2Day readers.
You can expect data galore this week that will give a clearer picture about the health of the U.S. Economy. Updates on auto sales and manufacturing will come out early in the week followed on Friday by the Labor Department’s monthly employment report. Although earnings season is winding down, a number of companies will be reporting including discount retailer Dollar General and medical device company Medtronic. It will also be an exciting week for sports fans, with the NBA finals starting Thursday and the potential for the first Triple Crown winner in nearly four decades at Belmont Park this weekend.
Here’s what you need to know to start your week.
1. Monthly employment report
The Labor Department is expected to report that the U.S. Economy added 225,000 jobs in May, which would represent a slight increase in monthly payroll from the previous month. Last month, the Labor Department said U.S. Employers added 223,000 jobs, which was more than economists had expected. The government also revised March’s initially disappointing numbers upward.
2. Quarterly earnings
Discount retailer Dollar General (DG) reports its first-quarter earnings Tuesday. The company has been focusing on accelerating its expansion plans after failing in its bid to buy smaller rival Family Dollar (FDO) earlier this year. Medical device company Medtronic (MDT), which recently acquired rival Covidien, is expected to outperform analysts’ expectations when it reports fourth-quarter results, also on Tuesday. And, JM Smucker (SJM), the maker of jams, as well as Folgers coffee and Jif peanut butter, should also exceed forecasts when it reports its fourth-quarter earnings Thursday, despite slower sales for the company’s coffee products.
3. NBA Finals
The championship round of the NBA playoffs kicks off this Thursday, with the Cleveland Cavaliers and the Golden State Warriors meeting in a best-of-seven series that will be aired on Walt Disney-owned ABC. During the fall, Disney (DIS) and Time Warner (TWX) signed new contracts to broadcast NBA games through the 2024-25 season. The broadcasters will reportedly pay roughly double the $500 million per season they currently pay for broadcast rights. Of course, the championship is also a big deal for the league’s sponsors like Coca-Cola (KO), which will give up its rights to PepsiCo (PEP) at the end of the season.
4. Triple Crown winner?
Thoroughbred racehorse American Pharoah could become the sport’s first Triple Crown winner since 1978 if he wins this Saturday’s Belmont Stakes. The winning horse this weekend will earn a purse of $1.5 million, which could help pay for the legal costs of American Pharoah’s owner, Egyptian businessman Ahmed Zayat, who faces a $3 million breach of contract lawsuit filed last year. Meanwhile, the expensive breeding rights to Zayat’s horse sold a few weeks ago to a stud farm in Kentucky. Terms of that deal were not revealed, but Zayat reportedly received offers of more than $20 million for the rights.in
5. IPOs
A handful of companies will make their market debuts this week, including Canadian tea retailer David’s Tea, which will look to raise $77 million in its IPO. Healthcare technology company Evolent Health and medical device-maker EndoChoice Holdings will also go public this week with initial offerings expected to raise up to $150 million and $100 million, respectively.
For more about the NBA, watch this Coins2Day video:
