Sunday, August 22, 2010

THIS WEEK'S MARKET MOVERS

chart
Courtesy of ChartsEdge
Monday:
Economic: NA.

Earnings:
Light Monday morning kick-off (SAFM, KNSY) with Tuesday Morning (TUES), ironically enough, a wake-up call for a few involved investors. China-based media / ad concern Focus Media (FMCN) reports after the closing bell.   

Other Notables:  Following strongest weekly M&A action for August since 2006, "Merger Monday" possibly in-play. Last week's second half theme of concern for strength of economic recovery or double dip will be on the radar (FXE, UUP, TLT and GLD) as a market mover. 

Tuesday:
Economic: Existing Home Sales expected to produce reading of 4.75M units for July compared to prior 5.37M

Earnings:
Light schedule of familiar but second-tier reports (BKC, DAKT, MDT and TSL) with retailers Barnes & Noble (BKS) and discount outlet Big Lots (BIG) in the spotlight. 

Wednesday:
Economic: Weekly Crude data, Durable Orders & ex-Trans (3.1% vs. -1.2% and 0.5% vs. -0.9% prior) and flat New Home Sales of 330K.

Earnings: Third-tier retail (
BWS, CWTR, PERY) led by second-tier American Eagle (AEO). Homebuilder Toll Bros (TOL) in expected to show loss of -$0.14 compared to year ago's -$2.93 per share. Technically, shares have been busy building a low level, flat base foundation for the past two months. 

After Hours schedule features retailer Guess? (GES), communication equipment outfit JDS Uniphase (JDSU), TiVo (TIVO) (need we say more?) and recent IPO rue21 (RUE).

Thursday:
Economic: Weekly Claims expected to improve with -15,000 drop to 485,000 after striking multi-month high. Continuing Claims (4.51M vs. 4.47M).

Earnings: NASDAQ 100 component Patterson (
PDCO) leads for mostly third tier sub $15 crop (APWR, DHT, CONN, GRB and FRED).  

After Hours has retailer J. Crew (JCG) on display with analysts expecting profits of $0.46 per share compared to last year's $0.29. Solid mix of small to midcap tech outfits (ARUN, IRF, MCRS, NZ, NOVL, OVTI and SLH) releasing.  

Friday:
Economic:  Q2 GDP Second Est. & Deflator (1.4% vs. 2.4% and flat 1.8%), Michigan Final August (69.4 vs. 69.6).

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