Here Are The Key Market Moving Events For Thursday, February 23, 2012

Gap DenimGap Inc. will report quarterly results on Thursday, with consensus estimates for earnings per share at $0.40.

Photo: Gap Inc.

Thursday continues a busy week, with more than two dozen major earnings announcements. At the same time, a series of economic releases will keep markets moving, including initial claims in the U.S.Here’s what you need to know.

  • Australia starts the day off early with worker wages at 7:30 p.m. EST on Wednesday evening. Economists predict average weekly wages will increase by 1.0 per cent in the November quarter.
  • At 12:00 a.m. EST on Thursday morning, Singapore consumer prices are seen advancing 0.8 per cent.
  • Taiwan industrial production will be announced at 3:00 a.m. EST, with expectations for the key metric to fall 15.3 per cent year-on-year.
  • Fifteen minutes later, Swedish consumer confidence is set for release. Economists polled by Bloomberg forecast a reading of 0, which indicates neither pessimism or optimism.
  • At 3:30 a.m. EST, Hong Kong will announce January exports and imports.  Exports are seen declining 7.0 per cent year-on-year in January, while imports fall 4.5 per cent. 
  • Attention shifts back to Europe at 4:00 a.m. EST, when the Ifo Institute announces a reading on the German business climate. The index is seen expanding slightly to 108.8, with the expectation sub-index gaining 110 basis points to 102. 
  • At the same time, Italian consumer confidence will be announced, with economists predicting a February reading of 92. That’s up from the 91.6 reading in January.
  • Poland’s unemployment rate also follows at 4:00 a.m. EST, with estimates for it to jump to 13.3 per cent in January, from 12.5 per cent in December. 
  • At 6:00 a.m. EST, the Confederation of British Industry will announce trend orders, which measures expectations of manufacturers in the U.K. The forecast is for an improvement to -13 from -16 for February. A reading below zero indicates expectations for declining orders. Also at 6:00 a.m. EST, Ireland will release consumer prices. 
  • At 8:30 a.m. EST, initial jobless claims will be announced in the U.S., with consensus for 355,000 new claims, up from 348,000 last week. Continuing claims are anticipated to come in at 3.455 million.
  • U.S. home prices will be released at 10:00 a.m. EST. Economists polled by Bloomberg forecast the index to advance 0.1 per cent month-on-month in December.
  • The Kansas City Federal Reserve will announce activity in its region at 11:00 a.m. EST, with expectations for the index to improve to 9 in February, from 7 a month earlier.
  • Closing out the day at 4:00 p.m. EST is the release of Colombian industrial production. December production is seen increasing 5.6 per cent year-on-year.

Below, a roundup of tomorrow’s big announcers. 

InterDigital (IDCC): $0.46
Omnicare (OCR): $0.57
Target (TGT): $1.39
Plains Exploration & Production (PXP): $0.37
Kohl’s (KSS): $1.80
American Tower (AMT): $0.72
Gap (GPS): $0.40
Crocs (CROX): $0.04 (CRM): $0.40
Monster Beverage (MNST): $0.37
American International Group (AIG): $0.56
Molycorp (MCP): $0.40
Omnivision Technologies (OVTI): $0.13
TiVo (TIVO): -$0.13
Autodesk (ADSK): $0.45
Denbury Resources (DNR): $0.33
Liberty Media Corp – Liberty Capital (LMCA): $0.33
DISH Network (DISH): $0.61
Sears Holdings (SHLD): 0.69
MetroPCS Communications  (PCS): $0.16
Liberty Interactive (LINTA): $0.37
Deckers Outdoor (DECK): $3.13
KBR (KBR): $0.64
Safeway (SWY): $0.64

Consensus estimates provided by Bloomberg. 

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