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Tech Industry

The week ahead: Blame Canada?

U.S. investors who have to be at work during the Fourth of July week may rail against some of their neighbors to the north that choose to announce earnings news.

    Following are some of the notable tech-related events scheduled for the week of July 1 through July 5.

    The U.S. investors who have to be at work during the Fourth of July week may rail against some of their neighbors to the north that choose to announce earnings news.

    The holiday has caused conference planners to avoid staging events for the week. Some major companies are also taking it easy. Hewlett-Packard, Abobe Systems and Sun Microsystems will be closed the whole week, and Applied Materials is giving its employees the day off Friday, July 5.

    The urge to take a breather has also seeped into the financial community. The New York Stock Exchange will only open for a half day on Friday, as will the Nasdaq.

    But some tech workers in other countries will not use Independence Day as an excuse to liberate themselves from their desks. Canada's Research in Motion, the maker of handheld personal wireless communication devices, will announce earnings Tuesday.

    Canadians celebrate Canada Day, their version of Independence Day, on July 1.

    As for RIM, analysts surveyed by First Call expect the company to post a loss of 19 cents in the fiscal first quarter versus a profit of 5 cents for the same quarter last year.

    The U.S. government will not let economists take a break this week either.

    The Commerce Department will announce cars and truck sales numbers for June on Monday, a key metric that analysts use to gauge the strength of consumer spending.

    The Labor Department will release its employment situation report on Friday, which could force some analysts to wake up early after a night of fireworks to ponder the strength of the American job market.

    The information was gathered from First Call, Hoover's Online, CCBN's StreetEvents, MSN's Moneycentral and CNET Investor.

    Earnings

    Tuesday, July 2

    • Research in Motion makes personal wireless communication devices. Per-share consensus estimate for the first fiscal quarter: loss of 19 cents.

    Economic Reports

    Monday, July 1

    • Auto and truck sales represents the number of new vehicles sold in the United States as compiled by the U.S. Commerce Department. Analysts expect June car sales to rise to an annual rate of 6.1 million from 5.7 million in May. Truck sales are expected to climb to 7.2 million in June from 6.8 million during the previous month.

    • The Institute for Supply Management index tracks how many hard goods were bought by purchasing managers. The June ISM index is expected to drop to 55.5 percent from 55.7 percent in May. The ISM, formerly known as the National Association of Purchasing Management, regards index values above 50 as an indication of an expanding economy, while values below 50 signify contraction.

    • Construction spending tabulates the dollar amount of newly completed building structures in a month as reported by the Commerce Department. Economists expect May spending to rise 0.3 percent from a 0.2 percent rise in April.

    Wednesday, July 3
    • The Non-Manufacturing ISM index tracks how many hard goods were bought monthly by purchasing managers in the services industry. Economists expect the index to drop to 58.2 percent in June from 60.1 percent in May.

    • Initial Claims refers to the number of people who filed for unemployment benefits each week as reported by the Department of Labor. Claims will be reported for the week ending June 29.

    Friday, July 5
    • Unemployment rate is the percentage of unemployed adults, as estimated monthly by the Labor Department. Wall Street expects a 5.9 percent jobless rate for June, up from 5.8 percent in May.

    • Average workweek is the average amount of hours worked per week in the private sector, as estimated monthly by the Labor Department. Economists expect hours worked in June to rise to 34.3 from 34.2 hours in May.

    • The Labor Department also follows the monthly percentage change in Hourly Earnings in the private sector. This number is expected to rise 0.3 percent June, compared with a 0.2 percent increase during the previous month.

    • Nonfarm Payrolls represents the change in the number of workers in nonfarm jobs. This number is expected to rise by 60,000 in June versus an increase of 41,000 in May.