Traders will have an eye on trade balance figures in addition to the Fed's Beige Book, which reports on economic conditions around the country.
for July. The monthly deficit in goods and services is expected to narrow sharply to $70.3 billion, the smallest since October.
It would also mark the fourth consecutive month that the deficit has narrowed after hitting a record $107.6 billion in March.NEWELL BRANDS: Shares fell more than 4% in extended trading after the company lowered its third quarter and full-year forecasts.The consumer products company expects third-quarter net sales of $2.21 to $2.32 billion down from previously guided $2.39 to $2.50 billion.
Core sales are estimated to decline 8% to 12%, larger than the previously forecast decline of 1% to 5%. Full-year net sales are seen as $9.37 to $9.58 billion compared to the previously guided $9.76 to $9.98 billion.Total revenues are expected to be $838.0 to $844.0 million compared to the previous forecast of $681.0 to $684.0 million. Non-GAAP income from operations is expected to be $62.5 to $68.5 million, up from a non-GAAP loss from operations of $2.0 to $7.0 million.Fiscal second-quarter revenue rose 18% to $211.1 million. Analysts expected $204 million.
The GAAP operating loss for the three months ended July 31 widened to $63.6 million from $54.3 million.The board also authorized a share repurchase program of up to $100 million.CLICK HERE TO READ MORE ON FOX BUSINESSKicking off the week for earnings will be John Wiley & Sons, Korn Ferry, NIO and REV Group before the market open and Asana, Casey’s General Stores, Dave & Buster’s Entertainment and GameStop after the bell.
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