WASHINGTON-India is expected to purchase state-of-the-art U.S. drones and jointly produce jet-fighter engines in a multibillion-dollar deal designed to wean New Delhi off arms purchases from Russia.
The purchase is expected to be unveiled Thursday in Washington as Indian Prime Minister Narendra Modi visits the White House on a high-profile visit that includes a formal state dinner. New Delhi had long sought some of the U.S.'s most advanced weaponry and equipment, but Washington was reluctant until now to share such sensitive technology because of India's past, and continuing, purchases of Russian military gear.
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings:
Empire Co 4Q
Economic Calendar (ET):
0830 Apr Employment Insurance
Stocks to Watch:
Algoma Steel 4Q Loss/Shr C$0.19; 4Q Loss C$20.4M; 4Q Rev C$677.4M; Expects 1Q FY24 Total Steel Shipments of 550,000 to 560,000 Tons
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Fire & Flower Holdings, Subsidiaries Get Court Approval to Start Sale, Investment Solicitation Process; Process to Be Conducted by FTI Consulting Canada; Soliciting Interest in Opportunities for Restructuring, Recapitalization, Refinancing; Sale of All or Parts of Business; Deadline to Submit Non-Binding Letters of Intent Set for July 13; Fire & Flower Has Also Received Approval for Stalking-Horse Agreement With Affiliate of Alimentation Couche-Tard
Expected Major Events for Thursday
05:00/JPN: May Supermarket sales
06:45/FRA: Jun Monthly business survey (goods-producing industries)
08:59/JPN: Jun Monthly Economic Report
11:00/UK: Agents' Summary of Business Conditions
11:00/UK: UK interest rate decision
12:30/US: May Chicago Fed National Activity Index (CFNAI)
12:30/CAN: Apr Employment Insurance
12:30/US: 1Q International Transactions
12:30/US: 06/17 Unemployment Insurance Weekly Claims Report - Initial Claims
13:00/RUS: Weekly International Reserves
14:00/US: May Leading Indicators
14:00/US: May Existing Home Sales
14:30/US: 06/16 EIA Weekly Natural Gas Storage Report
15:00/US: 06/16 EIA Weekly Petroleum Status Report
15:00/US: Jun Federal Reserve Bank of Kansas City Survey of Tenth District Manufacturing
20:30/US: Foreign Central Bank Holdings
20:30/US: Federal Discount Window Borrowings
23:01/UK: Jun UK Consumer Confidence Survey
23:30/JPN: May CPI (Nation), CPI ex-food (Nation)
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Thursday
ACELYRIN Inc (SLRN) is expected to report for 2Q.
Accenture PLC (ACN) is expected to report $2.93 for 3Q.
Beyond Air Inc (XAIR) is expected to report for 4Q.
Burcon NutraScience Corp (BU.T,BUR) is expected to report for 4Q.
CalAmp (CAMP) is expected to report $-0.19 for 1Q.
Capstone Green Energy Corp (CGRN) is expected to report for 4Q.
Commercial Metals Co (CMC) is expected to report $1.91 for 3Q.
Crown Crafts (CRWS) is expected to report for 4Q.
DATATRAK International Inc (DTRK) is expected to report for 1Q.
Darden Restaurants (DRI) is expected to report $2.54 for 4Q.
Empire Co (EMLAF,EMP.A.T) is expected to report for 4Q.
Factset Research Systems (FDS) is expected to report $3.11 for 3Q.
Methode Electronics (MEI) is expected to report $0.45 for 4Q.
Organovo Holdings Inc (ONVO) is expected to report for 4Q.
Smith & Wesson Brands Inc (SWBI) is expected to report for 4Q.
System1 Inc (SST) is expected to report for 1Q.
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ANALYST RATINGS ACTIONS
Adobe Raised to Outperform From Market Perform by BMO Capital
Avangrid Raised to Sector Weight From Underweight by Keybanc
Beauty Health Cut to Hold From Buy by Stifel
Coherent Cut to Market Perform From Outperform by Northland Capital Markets
Coherent Cut to Neutral From Buy by Rosenblatt
Constellation Energy Cut to Sector Weight From Overweight by Keybanc
DICE Therapeutics Cut to Hold From Buy by Canaccord Genuity
DICE Therapeutics Cut to Neutral From Buy by HC Wainwright & Co.
LiveRamp Holdings Raised to Buy From Hold by Benchmark
Match Group Cut to Peer Perform From Outperform by Wolfe Research
Peloton Interactive Cut to Underperform From Peer Perform by Wolfe Research
Quotient Technology Cut to Neutral From Buy by Rosenblatt
Quotient Technology Raised to Equal-Weight From Underweight by Morgan Stanley
Teleflex Cut to Hold From Buy by Needham
Tesla Cut to Equal-Weight From Overweight by Barclays
Xcel Energy Cut to Market Perform From Outperform by BMO Capital
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
06-22-23 0624ET
