There are a number of economic reports of note and significant corporate earnings reports scheduled for release this week.
Economic reports for the week include:
Mon. - Personal Income, Personal Spending, PCE Core, Construction Spending, ISM Manufacturing
Tues. - Pending Home Sales, Total Vehicle Sales
Wed. - Factory Orders, ISM Non-Manufacturing
Thur. - Non-farm Productivity, Unit Labor Costs, Initial Jobless Claims
Fri. - Change in Non-farm Payrolls, Unemployment Rate, Average Hourly Earnings, Consumer Credit
Some of the more noteworthy companies that release quarterly earnings this week are:
Mon. - Chesapeake Energy(CHK), Fisher Scientific(FSH), Humana Inc.(HUM), Sysco Corp.(SYY), Tyson Foods(TSN)
Tues. - Administaff(ASF), Archer-Daniels(ADM), Caremark Rx(CMX), CB Richard Ellis(CBG), Cephalon(CEPH), CNA Financial(CNA), DreamWorks Animation(DWA), Duke Energy(DUK), Electronic Data Systems(EDS), Emerson Electric(EMR), Genesis Microchip(GNSS), IAC/InterActive Corp.(IACI), Loews Corp.(LTR), Sirius Satellite(SIRI), St. Joe(JOE), Timberland(TBL), TXU Corp.(TXU), Verizon Communications(VZ), Vornado Realty(VNO)
Wed. - Allergan Inc.(AGN), Alltel(AT), Cigna Corp.(CI), Clear Channel(CCU), Clorox(CLX), Devon Energy(DVN), Electronic Arts(ERTS), GlobalSantaFe Corp.(GSF), Hewitt Assoc,(HEW), JDS Uniphase(JDSU), Lone Star Steakhouse(STAR), Marsh & McLennan(MMC), Patterson-UTI(PTEN), PG&E Corp.(PGC), Priceline.com(PCLN), Procter & Gamble(PG), Prudential Financial(PRU), QLogic(QLGC), Qwest Communications(Q), Safeguard Scientific(SFE), Starbucks(SBUX), Teekay Shipping(TK), Terex Corp.(TEX), Tidewater(TDW), Time Warner(TWX), Whole Foods Market(WFMI)
Thur. - Activision(ATVI), Andrx Corp.(ADRX), Avid Technology(AVID), Chiquita Brands(CQB), Conseco Inc.(CNO), CVS Corp.(CVS), Eastman Kodak(EK), Estee Lauder(EL), Goodyear Tire(GT), International Paper(IP), Kerr-McGee(KMG), Las Vegas Sands(LVS), Legg Mason(LM), Marvel Entertainment(MVL), Maytag Corp.(MYG), McKesson(MCK), News Corp.(NWS/A), Transocean Inc.(RIG), Tyco Intl.(TYC), Univision Communications(UVN), Wynn Resorts(WYNN)
Fri. - Cablevision Systems(CVC), El Paso Corp.(EP), Medco Health Solutions(MHS), Mills Corp.(MLS), Nabors Industries(NBR), Pixar(PIXR), Sina Corp.(SINA), THQ Inc.(THQI)
Other events that have market-moving potential this week include:
Mon. - None of note
Tue. - Kaufman Brothers Small-cap Growth Forum, CSFB Semi/Semi Equip. Conference, Lehman Brothers Retail Conference, Deutsche Bank Healthcare Conference, Merrill Lynch Tech Gathering, Interop Las Vegas
Wed. - Deutsche Bank Securities Health Care Conference, CSFB Semi/Semi Equip. Conference, Merrill Lynch Tech Gathering, Morgan Stanley Global Healthcare Conference, Interop Las Vegas, Banc of American Basic Industries Conference, Lehman Brothers Retail Conference
Thur. - Banc of American Basic Industries Conference, Morgan Stanley Global Healthcare Conference
Fri. - Morgan Stanley Global Healthcare Conference
BOTTOM LINE: I expect US stocks to finish the week mixed as better-than-expected earnings reports, lower energy prices and lower long-term rates are offset by mixed economic data and profit-taking. My trading indicators are giving mostly bullish signals and the Portfolio is 75% net long heading into the week.
No comments:
Post a Comment