Earnings To Watch Thursday: AIG (AIG), General Motors (GM), Kellogg (K), Kraft (KRFT), Estee Lauder (EL)

Category: Companies / May 01, 2013 4:40PM EDT
Disappointing earnings results from MasterCard Inc (MA) and Merck & Co., Inc. (MRK) weighed on Wall Street Wednesday early in the session. Here's a preview of earnings to watch on Thursday: General Motors Company (GM) is gearing up to report first-quarter earnings before the bell Thursday with forecasts pointing to a decline in revenue. U.S. auto sales in April have come in at the best since 2007, and investors will be watching GM’s report closely to see how weakness in Europe has affected the company’s revenue. Also before the market opens Thursday, food manufacturing company Kellogg Co. (NYSE:K) is expected to report first-quarter earnings up 3 percent from the year ago quarter. Analysts forecast Estee Lauder Companies Inc. (NYSE: EL) to book third-quarter earnings of 34 cents per share on revenue of $2 billion. After the market closes Thursday, two big reports to keep an eye on are AIG and Kraft. Analysts polled by Reuters forecast American International Group Inc. (NYSE: AIG) to report first-quarter earnings of 87 cents per share, compared with a profit of $1.65 a share in the year-ago period. When Kraft Foods Group Inc (Nasdaq: KRFT) reports first-quarter results, it should give investors a clue to how it’s adjusting to being an independent company after it split from Mondelez last year. Kraft is expected to report earnings of 64 cents a share on revenue of $4.49 billion.