The reports we are following in today’s session.

Europe:

Vodafone’s (VOD LN) parent company, Vodacom, is expected to report “mixed” results, weighed down by regulatory changes in Germany and slower customer transfers from 1&1 to its network, according to Citi analysts. Pending deals in Italy and the UK are expected to drive cash flows and synergies over time. The merger with Three UK has received preliminary approval, with a final decision from the competition regulator expected by December 7. Organic service revenue growth for Q2 is expected to rise by 4%, slower than the 5.4% increase in the previous quarter.

Infineon’s (IFX GY) forecast for fiscal 2025 may be disappointingly conservative, with recovery in some parts of the market — such as the industrial sector — seeming a distant prospect, reports BI. Margins could be under pressure as costs for capacity expansion in Germany and Malaysia rise. The German semiconductor provider may also be vulnerable to China’s efforts to localize chip production, notes analyst Ken Hui.

USA:

Home Depot’s (HD US) comparable store sales are expected to decline for the eighth consecutive quarter, as lower existing home sales continue to impact sales, reports BI. The impact of hurricanes may lead to an increase in both revenues and costs in the coming quarters, the company adds.

Spotify’s (SPOT US) average revenue per user from premium subscriptions is expected to rise by 9.5%, marking its largest increase since the company went public in 2018. Price increases for premium plans in July, combined with small subscriber losses, suggest that this metric may remain resilient, says BI.

Shopify’s (SHOP US) revenues in constant currencies are expected to grow by 23%, with growth rates similar to those seen in the last four quarters. Shorter paid trial periods and a focus on larger merchants will boost sales, according to BI. Adjusted operating margin is likely to have remained stable, as Shopify spends more on marketing to attract corporate clients. The outlook will be key in assessing consumer spending during the holidays.

Tyson’s (TSN US) revenues are likely to have remained flat year-on-year, as beef and chicken segments have declined. Lower meat prices could impact sales, although volumes have increased, reports BI.

On Holding’s (ONON US) revenues grew by 29%, slightly more than last quarter, according to consensus forecasts. Growth in both direct-to-consumer sales and wholesale remains “sustained,” reports Truist. Brand awareness following the Olympic Games and the partnership with Zendaya will support demand.

Instacart (CART US) could surpass expectations for gross transaction value, thanks to higher growth in grocery delivery sales, supported by more promotions, according to Benchmark. The opportunity to increase ad revenues is limited, the company adds.

Occidental’s (OXY US) earnings per share cash flow is expected to exceed consensus, according to Citi, which adds that the large price differential between gas in Permian and Gulf Coast will help it surpass the forecast for pre-tax income from intermediate operations.