Week ahead: ARM, Glaxo in focus amid a wave of blue-chip earnings

18th Jul 2014 12:54

After a relatively quiet five sessions in terms of UK corporate earnings, things will pick up a gear next week with a host of blue chips expected to update the market on their recent performances.ARM Holdings, which designs chips used in smartphones and tablets, will be in focus on Tuesday as it reports on its second quarter. Outlook comments from the firm will be closely watched following recent gloomy words from others in the sector such as its customer Samsung which last week warned that second-quarter revenues would be 3% short of expectations due to weaker demand for smartphones and tablets. Chip vendors Actions Semiconductor and Silicon Image have also recently warned about shortfalls in second-quarter revenues.Wednesday will see the release of second-quarter results from pharmaceutical giant GlaxoSmithKline, which is currently been dogged by an ongoing bribery scandal in China.Panmure Gordon said it is "not expecting fireworks" from GSK's results. "In light of our recent downgrade to forecasts due to exchange rate headwinds, we are expecting another tough quarter," said Analyst Savvas Neophytou. "China has not washed through completely either and generic competition to Lovaza in the US also makes this quarter difficult," he said.Other heavyweights will also be reporting next week, including Capita, Sage Group, Hammerson, Reed Elsevier, Unilever, easyJet, Reed Elsevier, Tate & Lyle, Kingfisher, SABMiller, Anglo American, United Utilities and Vodafone.Meanwhile, minutes from the latest Bank of England (BoE) policy meeting will also be a big deal for financial markets on Wednesday given recent speculation that interest rates could rise sooner than expected in response to recent solid economic data.For example, data released in recent sessions showed that UK inflation unexpectedly surged to 1.9% in June, up from 1.5% the previous month and closer to the BoE's 2% target. Meanwhile, the jobless rate in the UK fell to 6.5% in the three months to May, its lowest since 2008 and two years before. However, analysts believe that until wage growth begins to pick up policymakers will refrain from tightening.Monday July 21INTERIMSMichelmersh Brick Holdings, Microgen, W H Ireland GroupINTERIM DIVIDEND PAYMENT DATEGooch & Housego, Scottish Inv TrustINTERNATIONAL ECONOMIC ANNOUNCEMENTSProducer Price Index (GER) (07:00)GMSLebanese Co for the Development & Reconstruction of Beirut Central District SAL GDS (Reg S)FINALSAllocate Software, CSF Group, Schroder Real Estate Investment Trust LtdAGMSAshmore Global Opportunities Limited GBP , Babcock International Group, Ensor Holdings, Hansa Trust, Independent Resources, Invesco Income Growth Trust, Lebanese Co for the Development & Reconstruction of Beirut Central District SAL GDS (Reg S), Mineral & Financial Investments Limited (DI), Northern Investors Co, Palace Capital , Pathfinder Minerals , Quintain Estates & DevelopmentTRADING ANNOUNCEMENTSQuindell FINAL DIVIDEND PAYMENT DATELondonMetric Property, Mission Marketing Group, Palace Capital Tuesday July 22INTERIMSARM Holdings, Beazley, Croda International, McColl's Retail Group , Norsk Hydro ASA, Verizon CommunicationsINTERIM DIVIDEND PAYMENT DATECVC Credit Partners European Opportunities Ltd EURO, CVC Credit Partners European Opportunities Ltd GBPQUARTERLY PAYMENT DATELand Securities GroupINTERNATIONAL ECONOMIC ANNOUNCEMENTSConsumer Price Index (US) (13:30)Existing Home Sales (US) (15:00)House Price Index (US) (15:00)Q2ARM Holdings, Norsk Hydro ASA, Verizon CommunicationsGMSCamco Clean Energy, Crawshaw GroupFINALSIdeagen, IG Group Holdings, Versarien ANNUAL REPORTPrivate & Commercial Finance GroupIMSSQinetiQ GroupAGMSAdvanced Computer Software Group, Assura Group Ltd., Bloomsbury Publishing, British Smaller Companies VCT, Brown (N.) Group, Dekeloil Public Ltd, EPE Special Opportunities, Hibernia Reit , HICL Infrastructure Company Ltd, JPMorgan European Inv Trust Growth Shares, MobilityOne Ltd., ProVen Growth & Income VCT, ProVen VCT, QinetiQ Group, Red Leopard Holdings, Renold, TR Property Inv Trust, VPTRADING ANNOUNCEMENTSIQE, PetropavlovskUK ECONOMIC ANNOUNCEMENTSCBI Industrial Trends Surveys (11:00)Public Sector Finances (09:30)FINAL DIVIDEND PAYMENT DATEOctopus Apollo VCTWednesday July 23INTERIMSCapita, GlaxoSmithKline, Morgan Advanced Materials , OJSC Magnit GDR (Reg S), Ooredoo Q.S.C. GDR (Reg S), Provident Financial, Staffline Group, Torchmark Corp.INTERIM EX-DIVIDEND DATEChemring GroupQUARTERLY PAYMENT DATEAssura Group Ltd.INTERNATIONAL ECONOMIC ANNOUNCEMENTSConsumer Confidence Indicator (EU) (10:00)Crude Oil Inventories (US) (15:30)MBA Mortgage Applications (US) (12:00)Q2GlaxoSmithKline, OJSC Magnit GDR (Reg S), Ooredoo Q.S.C. GDR (Reg S), Torchmark Corp.FINALSAngle, RenishawIMSSBrewin Dolphin Holdings, Carphone Warehouse Group, PayPoint, Provident Financial, Sage GroupEGMSSefton Resources Inc.AGMSActive Energy Group, B.P. Marsh & Partners, Carphone Warehouse Group, Chaarat Gold Holdings Ltd. (DI), Digital Barriers, Downing Planned Exit VCT 6, Downing Planned Exit VCT 7, Flybe Group, Hogg Robinson Group, Insetco, Intermediate Capital Group, Johnson Matthey, Metro Baltic Horizons, Norcros, PayPoint, Polemos, Rensburg AIM VCT, Sirius Petroleum, Synergy Health, TalkTalk Telecom Group , Zanaga Iron Ore Co. Ltd (DI)UK ECONOMIC ANNOUNCEMENTSBBA Mortgage Lending Figures (09:30)BoE Interest Rate Minutes (09:30)CBI Distributive Trades Surveys (11:00)FINAL DIVIDEND PAYMENT DATEHome Retail Group, TalkTalk Telecom Group , Templeton Emerging Markets Inv TrustFINAL EX-DIVIDEND DATECoral Products, Development Securities, Energy Technique, GB Group, Heath (Samuel) & Sons, Immunodiagnostic Systems Holdings, London Stock Exchange Group, Martin Currie Pacific Trust, Scapa Group, Sirius Real Estate Ltd., SSEThursday July 24INTERIMSCSR, Hammerson, Howden Joinery Group, Lancashire Holdings Limited, Nichols, Rathbone Brothers, Reed Elsevier, Sagentia Group, UnileverINTERIM DIVIDEND PAYMENT DATEOctopus Titan VCT 1, Octopus Titan VCT 2, Octopus Titan VCT 3, Octopus Titan VCT 4INTERNATIONAL ECONOMIC ANNOUNCEMENTSContinuing Claims (US) (13:30)Initial Jobless Claims (US) (13:30)New Homes Sales (US) (15:00)Q2CSR, Lancashire Holdings Limited, UnileverGMSCyprotex, ThorntonsIMSSBritvic, easyJet, Electrocomponents, Halma, Marston's, Reed Elsevier, Tate & LyleAGMSAmedeo Resources, Astar Minerals, Camper & Nicholsons Marina Investments Ltd., Capital Management & Investment, Cyprotex, De La Rue, Dee Valley Group, Dee Valley Group (Non-Voting), Electrocomponents, Energy Technique, F&C Global Smaller Companies, Fuller Smith & Turner, Halma, NB Distressed Debt Investment Fund Ltd., Personal Assets Trust, Phorm Corporation Ltd (DI), Record, Royal Mail, SABMiller, Securities Trust of Scotland, Tate & Lyle, Tau Capital, TP10 VCT , TP5 VCT, Triple Point Income VCT, Triple Point Income VCT, Triple Point Income VCT C, Triple Point VCT 2011, Vertu MotorsTRADING ANNOUNCEMENTSClose Brothers Group, Kingfisher, SABMillerUK ECONOMIC ANNOUNCEMENTSInternet Retail Sales (09:30)Retail Sales (09:30)FINAL DIVIDEND PAYMENT DATEBig Yellow Group, DCC, Investec Structured Products Calculus VCT, Investec Structured Products Calculus VCT 'C' Shares, Octopus AIM VCT, PayPointFriday July 25INTERIMSAnglo American, Orange Polska S.A. GDR (Reg S), SpectrisINTERIM DIVIDEND PAYMENT DATEDunedin Smaller Companies Inv Trust, Jupiter Green Inv Trust, Paragon Group Of Companies, RWS Holdings, Scholium Group, ZytronicQUARTERLY PAYMENT DATEReal Estate Credit Investments PCC LtdINTERNATIONAL ECONOMIC ANNOUNCEMENTSDurable Goods Orders (US) (13:30)IFO Business Climate (GER) (09:00)IFO Current Assessment (GER) (09:00)IFO Expectations (GER) (09:00)M3 Money Supply (EU) (09:00)IMSSCable & Wireless Communications, United Utilities Group, Vodafone GroupSPECIAL DIVIDEND PAYMENT DATEKingfisher, Walker Crips GroupAGMSAlbion Venture Capital Trust, Bellzone Mining, Cable & Wireless Communications, Daily Internet , Helical Bar, JPMorgan Japan Smaller Companies Trust, Richland Resources Ltd, Shanks Group, Taihua, United Utilities GroupUK ECONOMIC ANNOUNCEMENTSGDP (Preliminary) (09:30)Index of Services (09:30)FINAL DIVIDEND PAYMENT DATE3i Group, Amati Vct 2, Anpario, Aveva Group, B.P. Marsh & Partners, Capital Gearing Trust, Downing Planned Exit VCT 6, Downing Planned Exit VCT 7, Fidelity China Special Situations , First Derivatives, ICAP, Impellam Group, Keywords Studios, Lombard Risk Management, Montanaro European Smaller Companies Trust, Northern 3 VCT, Northern Investors Co, ProVen Growth & Income VCT, ProVen VCT, REA Holdings, Severn Trent, Triple Point Income VCT, UK Mail Group , Walker Crips GroupQ1Ashok Leyland Ltd. GDR (Reg S)BC