Earnings Preview 3/05/10

Earnings Season is winding down, but that does not mean it is over. Next week will bring 228 earnings reports, but just 5 members of the S&P 500. Some of the higher-profile firms to report will be Kroger’s (KR), H&R Block (HRB) and National Semicondutor (NSM).

It will also be a relatively light week on the economic data front. As a result, attention is likely to drift towards political developments like progress on health care reform and the prospects for a financial regulatory overhaul, as well as international developments, particularly concerning the Greek situation.

Monday • Nothing of major significance

Tuesday • Nothing of major significance   Wednesday • Wholesale Inventory data is released and is expected to show a 0.2% increase in January after a 0.8% decline in December. The pace of inventory shrinkage has slowed dramatically in recent months, and now it is expected to turn positive. The slowing

...

Dell (DELL) will release its results on Thursday, after the close, as second-quarter earnings season nears an end. The technology company is projected to have earned 23 cents per share.

Joining Dell will be fellow S&P 500 members Big Lots (BIG), Medtronic (MDT), Novell (NOVL), Staples (SPLS) and Tiffany & Co. (TIF). A total of 76 companies are confirmed to release results.

Given the surprisingly strong July existing home sales report, all eyes will be on Wednesday's new home sales report. Specifically, economists will want to see that new home sales also rose for a fourth consecutive month.

Tuesday: August Conference Board consumer confidence, June S&P/Case-Shiller Home Price Index Wednesday: July durable goods orders, July new home sales, weekly crude inventories Thursday: Preliminary second-quarter GDP, weekly initial jobless claims Friday: July personal income and spending, revised August University of Michigan consumer confidence

Atlanta Federal Reserve Bank President

...

Dell (

...

The final week of August will feature earnings reports from S&P 500 members Big Lots (BIG), Dell (DELL), Novell (NOVL), Sears Holding (SHLD) and Tiffany (TIF). Overall, it will be a quiet week for earnings with 77 companies confirmed to report.

The economic schedule is pretty full, led by the minutes from the August Fed meeting. I don't anticipate any surprises from the notes. Other key data will include: Monday: July existing home sales Tuesday: July new home sales, August Conference Board consumer confidence index, August Fed minutes Wednesday: July durable goods orders, weekly crude inventories Thursday: Preliminary second-quarter GDP, weekly initial jobless claims Thursday: July personal income and spending, August Chicago PMI, revised August University of Michigan consumer confidence

The Federal Reserve's web site does not list any upcoming speeches.

The U.S. financial markets will be closed on Monday, Sep 1, in observance of Labor Day. Ahead of

...