Calculated Risk Expects A Series Of Weak Economic Reports This Week:
Image: Mathew Knott via Flickr
Monday: US Markets Are Closed In Observance Of Memorial Day.
Tuesday: Case-Shiller House Prices.
Wednesday: The ISM Manufacturing Index And May Vehicle Sales.
Friday: May Employment Report.
The Rest Of The Schedule for Week of May 29th.
>> Earnings Here.
The Key Events For The Week Ahead:
Key Economic Reports Of The Week Ahead:
Full List Of Events From Calculated Risk: Schedule For Week Of May 15th.
The key economic reports for the week ahead:
Full Schedule for Week of April 24th from Calculated Risk. U.S. Markets Outlook from MarketWatch here and CNBC here.
Cartoon from Jim Morin on the S&P downgrade. HT: Barry Ritholtz, The Big Picture.
Updated graph from The Chart Store [via The Big Picture] showing market capitalization as % of nominal GDP.
Full schedule of the coming reports from Calculated Risk Blog here.
Sotheby’s (BID) is likely to report $1.32 a share.
Sotheby’s Presentation Center, Tobiano2.
AES Corp. (AES) is forecast to report 27 cents a share.
Edison International (EIX) is projected to post 60 cents a share.
Range Resources (RRC) is expected to post 14 cents a share.
Live Nation Entertainment Inc. (LYV) is likely to post a loss of 18 cents a share.
Consensus survey by FactSet Research [via Market Watch]
Image via Wikipedia
Equity focus:
Wal-Mart via Wikipedia
Companies reporting earnings:
[via NY Times]
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Apache (APA) is expected to post $2.46 a share.
PG&E (PCG) is projected to report 72 cents a share.
Intuit (INTU) is forecast to post 32 cents a share.
Dr Pepper Snapple Group Inc. (DPS) is expected to post 63 cents a share.
Nordstrom Inc. (JWN) is estimated to report 99 cents a share.
Duke Energy Corp. (DUK) is projected to report 23 cents a share.
Ecolab Inc. (ECL) is expected to post 60 cents a share.
EOG Resources Inc. (EOG) is likely to post 27 cents a share.
J.M. Smucker Co. (SJM) is estimated to report a $1.26 a share.
Waste Management Inc. (WM) is forcast to report 54 cents a share.
By FactSet Research [via Market Watch]
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Abercrombie & Fitch Co. by six steps via Flickr
Genzyme (GENZ) is forecast to report 85 cents a share.
Comcast (CMCS) is expected to post 32 cents a share.
CBS (CBS) is forcast to report 43 cents a share.
Devon Energy Corp.(DVN) is likely to post $1.40 a share.
Abercrombie & Fitch Co.(ANF) is projected to report $1.31 a share.
Dean Foods Co. (DF) is estimated to report 14 cents a share.
By FactSet Research [via Market Watch]
EARNINGS WATCH | Earnings, updates, warnings
THE MARKET BY SECTOR | Industries
• Tech Stocks | Energy Stocks | Retail Stocks
• Financials | Airline Stocks | Pharma and Biotech
Dell HQ RR1, Round Rock, Texas. Image via Wikipedia.
Dell (DELL) is projected to post 36 cents a share.
Analog Devices (ADI) is estimated to post 65 cents a share.
Qwest (Q) is forcast to report a profit of 10 cents a share.
Tesla Motors Inc. (TSLA) is projected to report a loss of 50 cents a share.
Omnicom Group Inc.(OMC) is expected to post 81 cents a share.
Sirius XM Radio Inc. (SIRI) is likely to break even.
CenturyLink Inc. (CTL) is estimated to post earnings of 78 cents a share.
CIT Group Inc. (CIT) is projected to report a profit of 41 cents a share.
FactSet Research [via Market Watch]
MGM Resorts (MGM) is projected to release earnings of 22 cents a share.
Marriott International (MAR ) is forecast to post 36 cents a share.
Masco (MAS) is expected to report a loss of 2 cents a share.
Consensus survey from FactSet Research [via Market Watch]
By LexnGer via Flickr
Kraft (KFT) projected to report 47 cents a share.
Sprint Nextel (S) is expected to post a loss of 30 cents a share.
PepsiCo (PEP) is forecast to report $1.04 a share.
Expedia (EXPE) is likely to post 36 cents a share.
Goodyear Tire & Rubber (GT) is forecast a loss of 7 cents a share.
RealNetworks (RNWK) is projected a loss of 2 cents a share.
Molson Coors Brewing Co. (TAP) is expected to post earnings of 69 cents a share.
Philip Morris International (PM) is likely to report 97 cents a share.
Wynn Resorts Ltd. (WYNN) is forecast earnings of 65 cents a share (Thomson Reuters) vs 71 cents a share (FactSet).
[via Market Watch]
Coca-Cola via Wikipedia
[via MarketWatch]
Earnings reports: Boeing, Conoco Phillips, United Technologies, Occidental Petroleum, United Continental, Valero Energy, U.S. Airways, General Dynamics, Rockwell Automation, Exelon, St. Jude Medical, WellPoint Health and Xerox.
Reports after the bell: Starbucks, Netflix, Symantec, Varian Medical, Logitech, Lam Research, Motorola Mobility, Citrix and ETrade.
Barron’s: Are Steel Stocks Still a Steal?
By zoonabar via Flicker.
BBC: UK economic growth revised down. The UK economy grew less than previously estimated between July and September, revised figures have shown.
Bloomberg: Oil Hits 2-Year High After Supplies Drop More Than Forecast. Crude oil rose to the highest level in more than two years after government reports showed that U.S. supplies dropped and the country’s economy grew more than previously estimated in the third quarter.
BusinessWeek: The Year Of Printing Money. Despite Tea Party protestations, Fed policy hasn’t put much more currency into circulation. Increased bank reserves, though, could one day fuel inflation.
CNBC: Nearly Everyone Likes Stocks Again—So Is It Time to Sell? With investor sentiment bubbling at levels comparable to just before the market’s historic highs in 2007, now may be the time to pull back some before the froth gets out of hand.
Forbes: World’s Most Unique Travel Destinations. Some of these places are wonders of nature–a spot where the flora or fauna can’t be found elsewhere, or where the
MarketWatch: Mining and Metals: Payouts lack luster. As prices of gold, silver and other metals soar, European miners’ dividends haven’t kept pace, writes MarketWatch’s Sam Mamudi.
Reuters: Chill wind hits bank bonuses. A Reuters worldwide survey finds that bankers believe their payouts will be lower this year by an average of 7 percent. Here’s why the bonus pool is turning cold.
The Business Insider: 17 Facts About China That Will Blow Your Mind. Get to know the world’s most important economy.
The Economist: Why do firms exist? Ronald Coase, the author of “The Nature of the Firm” (1937), turns 100 on December 29th.
The Financial Times: Notes on a crisis: A musical take on the financial meltdown.
The Guardian: For sale: all of our forests. John Vidal: Government plans to sell off state-owned forests are unwarranted, unwanted and unworkable
The New York Times: Op-Ed Contributor: Thanks for the Tax Cut! There is a God! It passed!
The Telegraph: Citigroup fears fresh wave of sovereign defaults. Bank warns eurozone crisis will deepen unless EU agrees crisis plan.
The Wall Street Journal: Why I Don’t Want an iPad for Christmas. Columnist Brett Arends offers 10 reasons why Apple’s iPad — this year’s hottest adult toy — makes a lousy gift.
Via Wikipedia
Mostly upbeat economic data helped the US market finish at a two-year high on Friday.
Details here.
Barron’s: Bond Vigilantes Ride Again. After real interest rates rise, equities and commodities tumble. Take that, Ben.
Via Wikipedia
BBC: China to tackle food price rises. China’s premier Wen Jiabao has said the government is preparing new measures to stem double-digit food price inflation.
Bloomberg: M&A Drives Rise in London Financial Job Vacancies, Survey Says. Job vacancies at London’s financial- services firms climbed 5 percent last month, helped by a jump in mergers and acquisitions and a recovery in the British economy, according to a survey by a recruiting firm.
BusinessWeek:Morgan Stanley’s Meeker Sees Online Ad Boom. Dot-com “Queen of the Net” Mary Meeker will tell today’s Web 2.0 Summit that Internet advertising will reach $50 billion and mobile commerce will outpace traditional e-commerce.
CNBC: Fast Money Traders: Are 2010 Market Gains Done? Stocks sold off sharply Tuesday with investors punishing commodities, tech and banks, broadly.
Forbes: 2011 Predictions For Google, Microsoft, Oracle And More. Analysis of what’s ahead for tech’s heavy hitters.
MarketWatch: This year, you decide. We’re asking the readers to choose the 2010 MarketWatch CEO of the Year. Take a look at the five nominees and vote.
Reuters:Upsized GM IPO could be biggest deal ever. General Motors Co is boosting the size of its common stock offering by more than 30 percent to $15.5 billion, two people familiar with the matter said, potentially making its landmark IPO the largest U.S. offering ever.
The Business Insider: Now Everyone Is Blaming Everyone For The Spiraling Eurozone Crisis. But is Europe less divided than the US?
The Economist: Socially challenging. Psychopathy seems to be caused by specific mental deficiencies.
The Financial Times: Women at the Top: FT ranking of top 50 women in business.
The Guardian: Osborne – UK will help Ireland through debt crisis. Chancellor vows to help restore stability as European finance ministers gather for meeting.
The New York Times: Findings: When the Mind Wanders, Happiness Also Strays. Using an iPhone app calledtrackyourhappiness, psychologists at Harvard contacted people around the world at random intervals to ask how they were feeling, what they were doing and what they were thinking.
The Telegraph: The world’s best places to live.
The Wall Street Journal: Bring On the Fat—and Taste. Celebrity chefs have slaved in haute cuisine kitchens and mastered the world’s most complex dishes. Today, they’re dedicating their culinary brain power to another challenge: How to cash in on the burger craze.
By thinkretail via Flickr
British luxury-goods retailer, Burberry, helmed by Angela Ahrendts earns $133 million
“Burberry Group PLC reported profit attributable to shareholders for the six months ended Sept. 30 of 83.1 million pounds ($133.3 million), a gain of 46% on profit of 56.8 million pounds in the year-ago period.”
Numbers via MarketWatch here.
As a reaction to an increased possibility of an interest-rate hike; The Shanghai Composite index fell 5.2% while the Shenzhen Composite index plunged 6.1%
There’s a growing belief that Beijing will resort to price controls on food items as an inflation-calming strategy. HSBC warns of impact on stocks; ‘The 2008 experience suggests that the equity market doesn’t like price controls.’
Full story from MarketWatch: China stocks to suffer as price controls loom.
[via Finviz.com]
Bourses in tight range before monetary-policy decision from the U.S. Federal Reserve. Lloyds names a new CEO. SocGen, Anheuser-Busch InBev, BMW and Statoil report results.
More via MarketWatch here.
Wall Street by f-l-e-x via Flickr
Barron’s: How to Hedge Election and Fed. Buy defensive options ahead of the election and Federal Reserve meeting just in case the outcome isn’t as grand as expected.
BBC: Australia and India in rate rises.Australia and India have both raised interest rates by a quarter percentage point amid fears of rising inflation.
Bloomberg: Swiss Re Leads Fight Over 35% Tax Plan That Cuts U.S. Profits. Swiss Reinsurance Co. and Munich Re , the world’s biggest reinsurers, are battling a proposed congressional bill that may reduce earnings from the U.S.
BusinessWeek: GOP Nears Biggest Midterm Win Since 1938 Election. Voters in a “foul mood” stand poised to give Republicans a House majority and leave Democrats little edge in the Senate, say analysts who warn of “midterm bloodletting”
CNBC: BP Raises Gulf Spill Costs Estimate; Profits Dive. The oil major lifted its estimate of the cost of its oil spill by $7.7 billion to $39.9 billion, pushing its profits down sharply despite higher oil and gas prices.
Forbes: The Economy Is Doing Better Than It Seems. Two percent GDP growth is nothing to write home about, but a surge in imports suggests consumers and businesses are spending.
MarketWatch: U.K.’s Lloyds on track. British lender says underlying income growth in the third quarter is moving in the right direction.
Reuters: The boomerang generation. Burdened by student debt and stymied by limited job choices, many young adults are forced to move back home. Here’s how parents can make the best of the situation.
The Business Insider: Watch Oil To See If It’s About To Scream That A Major Recovery Is Underway. It just made a “golden cross.”
The Economist: Asia view reports that it’s now possible to make a mobile phone call and surf the internet from Mount Everest.
The Financial Times: Obama can blame the whining left. & Middle America’s Tea Party is here to stay.
The Guardian: Why the west rules – for now. Audio slideshow: Ian Morris argues that it is geography which determines the landscape of power
The New York Times: Big Investors Appear Out of Thin Air. Investors have swooped in and bought big stakes of companies in the United States and in France without anyone knowing. Shouldn’t something be done about these maneuvers?
The Telegraph: Saudi fuels oil price fears. Saudi Arabia implies it will do nothing to stop prices reaching $90 a barrel.
The Wall Street Journal: Unusual Turn for European Business. Europe’s industrial policy was unveiled in a manner so low key that many industrialists may not be aware of its existence.
Shanghai stocks expecting slower economic growth? via Wikipedia
According to a noted strategist, investors should look to countries that have already hiked interest rates in selecting the next round of potential winners in Asia. A new set of dynamics are taking hold in the months ahead.
“People’s Bank of China’s decision earlier this month to raise rates for the first time since 2007 was likely the first of several to come. Freris said his advice to clients was to avoid the broad China index and look to stocks in sectors geared toward retail spending, real estate and infrastructure.
The Shanghai Composite (CN:SHCOMP), up about 0.6% over the past 12 months, backs the theory that an underlying economy can grow at a rapid pace while stocks remain a sleeper, he said.”
More from MarketWatch here.
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