Written by Brenda Nakalema

Discovery, Merck, Carnival, Broadcom, plus Other Stocks to Watch This Week

This week’s loaded with annual shareholder meetings, investor days, and earnings reports. Broadcom plans to hold its first annual meeting …

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This week’s loaded with annual shareholder meetings, investor days, and earnings reports. Broadcom plans to hold its first annual meeting on Monday, closely followed by events from Merck, Analog devices, and Quanta services the next day.

Conagra Brands and Constellation Brands release quarterly results on Thursday. Accenture will also hold its investor day on that day. Finally, Carnival and Discovery will both hold their annual shareholder meetings on Friday.

Wednesday will be a crucial day for investors keen on the moves made by the Federal Reserve since the Federal Open Market Committee will release minutes from its mid-march meeting. The committee previously raised its benchmark interest rate during that meeting.

Economic data to watch out for this week includes; the Census Bureau’s new factory orders for February on Monday, the Institute for Supply Management’s Services Purchasing Manager’s Index for March on Tuesday, and finally, the Federal Reserve’s consumer credit data released on Thursday.

Monday 4/4

The Census Bureau releases a report on new factory orders for the month of February. Consensus estimate expects that new orders for manufactured durable and non-durable goods will increase by 0.5% month over month and land at the seasonally adjusted figure of $548 billion. Factory orders gained by 1.4% in January; new orders for durable goods climbed 1.6% to $278 billion, and non-durable goods rose by 1.2% to $267 billion.

Broadcom hosts an annual meeting of shareholders.

Tuesday 5/4

The services Purchasing Managers’ Index is released by The Institute for Supply Management. Economists set their forecast at a reading of 58, 1.5 points higher than the February figure.

Annual investor days held by Analog Devices, FactSet Research Systems, and Quanta Services.

Merck organizes investor event in collaboration with the American College of Cardiology’s 71st Annual Scientific Session & Expo, which goes from April 2, all through to April 4 in Washington DC. The company will discuss its current portfolio and upcoming cardiovascular drugs.

The Reserve Bank of Australia releases its monetary policy decision. The bank is expected to maintain its cash target rate unchanged at 0.1%, a level it has maintained since November 2020.

A report on light- vehicle sales released by The Bureau of Economic Analysis. Projected sales by Auto-makers stand at 13.9 million vehicles at a seasonally adjusted annual rate in March. A 21% decline from the March figure of 2021, but a significant improvement amidst global supply chain issues.

Wednesday 6/4

Costco Wholesale reports sales data for the month of March.

The Federal Open Market Committee releases minutes from the mid-March monetary policy meeting. The committee raised the federal funds rate a quarter-point during the meeting from 0.25% to 0.5%, a first since December 2018.

Thursday 7/4

Conagra Brands, Constellation Brands, and Lamb Weston Holdings report quarterly results.

Accenture organizes its 2022 virtual investor and analyst day.

The Department of Labour reports initial jobless claims within the week ending April 2. Jobless claims stood at around 208,500 in March and most recently hit a five-decade low as more job openings outstrip the job seeker numbers.

The report on consumer data is released by The Federal Reserve. The consensus estimate is for the total consumer debt to increase to a seasonally adjusted annual rate of 2.7% to a record $4.46 trillion.

Friday 8/4

Carnival and Discovery organize their annual shareholder meetings.