* McDonald's (MCD) is expected to report Q1 EPS of $1.24 (vs $1.26 last year) on revs of $6.71 bln (+1.6% y/y). Earnings were released at 7:58am ET last quarter. Comps are expected to be roughly flat/slightly positive. On last quarter's earnings call, MCD reaffirmed expectations for US commodity costs to increase 1-2% in FY14, with more pressure in the first half of the year. Europe's expected commodity cost increase for FY14 was also at 1-2%, with more pressure in the second half of the year. CMG last week warned of higher costs from increased beef prices Commentary regarding competition will be of interest after YUM's Taco Bell launched Breakfast offerings at the end of Q1; BKW, WEN; SBUX.
* Cable and media giant Comcast (CMCSA) is expected to report Q1 EPS of $0.64 vs. ($0.51 last year) on rev of $17.0 bln (+11%). Q4 results impressed the Street with strong user metrics (co added video subs after losing sibs for 26 straight quarters), NBCU profitability and success with X1 roll out. Co has offered to acquire smaller Time Warner Cable (TWC) in a cash and stock deal. Antitrust is somewhat of a concern but the co's market's do not overlap very much and it is assumed that mgmt (with Democratic ties) wouldn't have pursued the deal if they didn't think they could push it through regulators; cable: CHTR, DISH, DTV, media: FOXA, CBS, DIS, VIA.B, TWX, AMCX, DISCA.
* Industrial Giant United Technologies (UTX) is expected to report Q1 EPS of $1.27 on sales of $14.7 bln -- somewhat stale estimates -- co guided for EPS of $1.25 on sales of $14.5 ln on March 13; consensus called for EPS of $1.39 on sales of $14.9 bln at the time. Co has guided for FY14 EPS of $6.55-6.85 on sales of ~$64 bln; XLI.
* Defense contractor Lockheed Martin (LMT) is expected to report Q1 EPS of $2.53 (vs. $2.33 last year) on sales of $10.89 bln. Co has guided for FY14 EPS of $10.25-10.55 on sales of $44.0-45.5 bln; orders $41.5-43 bln; RTN, NOC, GD, BAESY.