Tuesday preview: Carnival, JD Sports, US rate decision

20th Sep 2010 16:24

The share price of cruise operator Carnival has been steaming higher over the last month, rising 18% or so over the period, but it is still not back to the levels seen before the company's disappointing second quarter update, when the company revealed lower profits and reduced third quarter guidance.Some companies deliberately like to set expectations low and on Tuesday we will see whether Carnival is one of those. Carnival said in June it expects third quarter earnings to be between $1.43 and $1.47, above $1.33 over the same period last year, but below some analysts' estimates at the time.Sport-themed fashion retailer JD Sports was the star performer among mid-caps on Monday, suggesting that a large body of investors are expecting good things when the company announces interim results on Tuesday.FinnCap expects a 5% like for like (LFL) year on year increase in the retailer's Sport division, and a 1% decline in LFL sales in the Fashion division.If you are of a squeamish disposition it might be best to look away from the screens at 9:30 when the public finances figures for August are published, although the shortfalls are likely to be an improvement on August of a year ago."The marked improvement in growth in the second quarter should have helped matters," suggests Dr. Howard Archer of the forecasting unit I H S Global Insight. "In addition, unemployment benefit claims have fallen by 161,800 overall from last October's 12-year high of 1.6278 million, which is helping to limit the rise in public expenditure," Dr. Archer added. He is forecasting the Public Sector Net Borrowing Requirement (PSNBR) to come in at £11.5bn, compared to £13.6bn in August 2009.Over in the US, the Federal Open Market Committee is due to announce its interest rate decision at 7:15pm, UK time. The Fed is expected to keep its key reference rate unchanged.INTERIMSDealogic, Dolphin Capital Investors, JD Sports Fashion, Morson Group, Roxi Petroleum, VelosiINTERIM DIVIDEND PAYMENT DATESchrodersINTERNATIONAL ECONOMIC ANNOUNCEMENTSABC Consumer Confidence (US) (22:00)Building Permits (US) (13:30)FOMC Interest Rate (US) (17:15)Housing Starts (US) (13:30)Q3CarnivalGMSAfren, ASOS, Preston North EndFINALSMinerva, Wilmington GroupEGMSGoldenportAGMSBritish Smaller Companies VCT, CSF Group, F&C Managed Portfolio Trust Income Shares, Investcorp Bank GDR (Reg S), Park Group, Stewart & Wight, TrifastTRADING ANNOUNCEMENTSDolphin Capital InvestorsUK ECONOMIC ANNOUNCEMENTSConsumer Price Index (09:30)Producer Price Index (09:30)Public Sector Finances (09:30)Retail Price Index (09:30)FINAL DIVIDEND PAYMENT DATEGartmore Irish Growth