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$FDX said its US GDP growth forecast is 1.6% for 2016, 20 BPs lower than forecast in 4Q16 and 2.3% for 2017, led by gains in consumer spending. Global GDP growth forecast is 2.2% for 2016, 10 BPs below 4Q16, and 2.6% for 2017. The company expects industrial production to decline 0.7% in 2016, 10 BPs lower than 4Q16, and increase 2.2% next year.
Visa ($V) set to release it earning after market close today. With new CEO resigning so close to the earnings, should we expect to see any surprises? Visa has been making strong moves with Visa Europe acquisition, partnership with PayPal and a 15% increase if quarterly dividends.
Kimberly Clark Corp ($KMB) has been in decline for most of the year, the stock has also not been getting any analyst love. Will today’s earnings break the trend? Revenue has been up and down in the last four quarters, let us see what this quarter brings.
$KMB down close to 4% after it misses on earnings and revenue. Forecasts are lower for the year.