What to Watch Thursday: Kraft Heinz's Post-Merger Earnings, Lauren, Spade, Jobless Claims
For Thursday, Nov. 5, TheStreet points out that earnings season isn't quite over yet. Dozens of companies will report their latest quarterly results.
The ones to most pay attention to are Ralph Lauren (RL) - Get Report , Time (TIME) , Kate Spade (KATE) , Walt Disney (DIS) - Get Report , Kraft Heinz (KHC) - Get Report , Monster Beverage (MNST) - Get Report , News Corp. (NWSA) - Get Report and TripAdvisor (TRIP) - Get Report .
When Kraft Heinz reports its third-quarter 2015 earnings data, analysts are calling for $0.77 a share on revenue of over $6.5 billion. In July, H.J. Heinz and The Kraft Foods Group completed its merger, creating the third largest food and beverage company in North America, behind PepsiCo and Nestle.
The company's well-known brands are Heinz ketchup and Kraft mac and cheese. Separately, the company is reportedly closing seven manufacturing plants in North America in an effort to trim costs, according to The Wall Street Journal. This action will result in the loss of 2,600 jobs.
The company said that it is a "difficult but necessary decision."
Molly Henningsen, Research Analyst for CNBC's "Mad Money," said, "Thursday's report is going to be the first quarterly earnings for Kraft and Heinz since the merger so this is going to be a great opportunity for investors to get a sense of how the integration is going and provide a groundwork for what the company is seeing going forward because right now, we don't have any sense of estimates or guidance about the combined company."
There are several notable economic reports to look out for. At 8:30 in the morning, there will be jobless claims and productivity and costs.
In addition, there will be several Fed officials speaking tomorrow throughout the day, including William Dudley, Stanley Fisher, Charles Evans, Daniel Tarullo and then ending the round with Dennis Lockhart.