The week ahead: Big-name earnings
Investors will turn their eye to corporate earnings this week, after a string of financial scandals that rocked Wall Street and individual investors.
Following are some of the notable tech-related events scheduled for the week of July 15 through July 19. Investors will turn their eye to corporate earnings this week, after a string of financial scandals that have rocked Wall Street and individual investors.
Financial shenanigans at companies such as WorldCom, Xerox and Merck have given investors reason to be wary of the accuracy of corporate earnings.
Investors will no doubt keep this in mind as a number of big-name companies such as SAP, Microsoft, Nokia, IBM, Nortel Networks and others report earnings this week.
Apple Computer fans will have a particularly busy week. The computer maker reports earnings on Tuesday and will hold a meeting for financial analysts on Wednesday. All this activity happens as the Macworld Conference and Expo takes place in New York City this week.
Chip junkies also have several places to go. Aside from earnings news from Intel, Advanced Micro Devices and Motorola, two chip conferences will take place in San Jose, Calif. this week: the Platform Conference and Semicon West.
Finally, investors will hope for some good economic news from Alan Greenspan after a tough week in the stock market. The Federal Reserve Board chairman will deliver his semi-annual report on monetary policy to the House Financial Services Committee on July 17.
The information was gathered from First Call, Hoover's Online, CCBN's StreetEvents and CNET Investor.
Other events scheduled this week:
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- The CTAM Summit kicks off at the Hynes Convention Center in Boston, July 14-17. Hosted by the Cable and Telecommunications Association for Marketing, the event features speeches by representatives from AT&T Broadband, Viacom, Charter Communications, Time Warner Cable and others.
- Consulting firm Frost & Sullivan will hold a conference on Internet marketing at the Mohegan Sun Resort and Casino in Uncasville, Conn., July 14-18. The event will address how companies can use the Internet to expand their business. Issues such as personalization and privacy will be discussed.
- The Macintosh faithful will congregate at theMacworld Conference and Expo, which takes place at the Jacob K. Javits Center in New York City, July 15-19. Apple Computer chief executive Steve Jobs will deliver the keynote speech Wednesday, July 17 at 6:00 a.m. PST. Some Apple aficionados also expect the company to introduce a new iMac model with a larger flat-panel display at the show.
- Negotiators and lobbyists for media, technology and consumer-electronics companies must submit a plan to Rep. Billy Tauzin, R-La., the chair of the House of Representatives Energy and Commerce Committee, on July 15 that indicates how the groups will resolve their differences over digital-TV copyright protection.
- Chip enthusiasts will assemble at the Silicon Valley Conference Center in San Jose, Calif., July 16-17, for the Platform Conference. The event will be an opportunity for tech professionals to discuss the latest developments in chips for PCs, servers, wireless equipment and other electronic gear.
- Federal Reserve Board Chairman Alan Greenspan will appear before the House Financial Services Committee at 7:00 a.m. PST to give his semi-annual report on monetary policy.
- Apple Computer will hold a meeting for financial analysts at the Jacob K. Javits Center in New York City. The Webcast of the event will begin at 8:00 a.m. PST and end at 11:15 a.m. PST.
- The chip industry will gather for Semicon West at the San Jose Convention Center in San Jose, Calif., July 17-19. The second part of the conference continues the following week at the Moscone Center in San Francisco, July 22-24.
- PC maker Dell Computer will hold its annual shareholders' meeting in Austin, Texas.
- Stanford University will hold a course for financial professionals on how to manage investment risk in Palo Alto, Calif.
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Monday, July 15
- Hughes Electronics offers satellite TV service. Per-share consensus estimate for the second quarter: loss of 16 cents.
- Apple Computer makes desktop and laptop computers. Per-share consensus estimate for the third fiscal quarter: earnings of 9 cents.
- Compuware makes software for large corporate networks. Per-share consensus estimate for the first fiscal quarter: earnings of 5 cents.
- i2 Technologies makes e-commerce and management software for businesses. Per-share consensus estimate for the second quarter: loss of 19 cents.
- Intel is a major manufacturer of chips for PCs, telecommunications equipment and other electronic gear. Per-share consensus estimate for the second quarter: earnings of 11 cents.
- Motorola produces chips, cell phones, pagers and communications equipment. Per-share consensus estimate for the second quarter: loss of 4 cents.
- Nextel Communications offers wireless phone service. Per-share consensus estimate for the second quarter: loss of 25 cents.
- RealNetworks develops Internet media software. Per-share consensus estimate for the second quarter: loss of 1 cent.
- Teradyne makes chip manufacturing equipment. Per-share consensus estimate for the second quarter: loss of 30 cents.
- Veritas Software develops computer data storage software. Per-share consensus estimate for the second quarter: earnings of 14 cents.
- Advanced Micro Devices makes chips for PCs. Per-share consensus estimate for the second quarter: loss of 45 cents.
- CDW Computer Centers is a distributor of computer and electronic products. Per-share consensus estimate for the second quarter: earnings of 48 cents.
- Commerce One makes business-to-business e-commerce software. Per-share consensus estimate for the second quarter: loss of 14 cents.
- E*Trade provides online banking and stock trading services. Per-share consensus estimate for the second quarter: earnings of 11 cents.
- Extreme Networks makes equipment for telecom carriers. Per-share consensus estimate for the fourth fiscal quarter: earnings of 3 cents.
- Handspring assembles and markets handheld computers. Per-share consensus estimate for the fourth fiscal quarter: loss of 12 cents.
- IBM is a major manufacturer of computers and also offers IT consulting services. Per-share consensus estimate for the second quarter: earnings of 83 cents.
- Inktomi makes network software for corporations. Per-share consensus estimate for the third fiscal quarter: loss of 7 cents.
- Knight Trading offers online stock trading services. Per-share consensus estimate for the second quarter: loss of 4 cents.
- Macromedia makes animation and graphics-design software for the Web. Per-share consensus estimate for the first fiscal quarter: zero cents.
- Siebel makes e-business and customer relationship software for large businesses. Per-share consensus estimate for the second quarter: earnings of 9 cents.
- Symantec makes computer security software for companies. Per-share consensus estimate for the first fiscal quarter: earnings of 32 cents.
- Tellabs manufactures telecom equipment. Per-share consensus estimate for the second quarter: earnings of 1 cent.
- Atmel makes chips for electronic and communications equipment. Per-share consensus estimate for the second quarter: loss of 5 cents.
- Broadcom makes chips for cable set-top boxes and other communications equipment. Per-share consensus estimate for the second quarter: loss of 7 cents.
- eBay runs an auction Web site. Per-share consensus estimate for the third fiscal quarter: not available.
- EMC makes computer data storage equipment and software. Per-share consensus estimate for the second quarter: loss of 2 cents.
- Gateway builds PCs. Per-share consensus estimate for the second quarter: loss of 17 cents.
- Microsoft is a major developer of software for businesses and consumers. Per-share consensus estimate for the fourth fiscal quarter: earnings of 42 cents.
- Nokia makes cell phones and wireless communications equipment. Per-share consensus estimate for the second quarter: earnings of 17 cents.
- Nortel Networks is a major manufacturer of telecom equipment. Per-share consensus estimate for the second quarter: loss of 9 cents.
- PeopleSoft makes software that helps companies manage customer relationships, supply chains, human resources and finances. Per-share consensus estimate for the second quarter: earnings of 13 cents.
- PMC-Sierra is a communications equipment chipmaker. Per-share consensus estimate for the second quarter: loss of 8 cents.
- SAP develops CRM (customer relationship management) software for large businesses. Per-share consensus estimate for the second quarter: earnings of 13 cents.
- Scientific-Atlanta manufactures cable set-top boxes. Per-share consensus estimate for the fourth fiscal quarter: earnings of 25 cents.
- Sprint offers long-distance phone service to businesses and consumers. Per-share consensus estimate for the second quarter: earnings of 33 cents.
- Sprint PCS offers wireless phone service. Per-share consensus estimate for the second quarter: loss of 7 cents.
- Sun Microsystems is a maker of servers and created the Java programming language. Per-share consensus estimate for the fourth fiscal quarter: earnings of 1 cent.
- Transmeta makes chips for PCs and laptops. Per-share consensus estimate for the second quarter: loss of 18 cents.
- Unisys provides IT consulting services to large businesses. Per-share consensus estimate for the second quarter: earnings of 13 cents.
- Vitesse Semiconductor is a manufacturer of chips for telecom gear. Per-share consensus estimate for the third fiscal quarter: loss of 10 cents.
- Xilinx makes chips for consumer electronics and telecom gear. Per-share consensus estimate for the first fiscal quarter: earnings of 12 cents.
- Ericsson makes wireless phones and communications gear. Per-share consensus estimate for the second quarter: loss of 3 cents.
| Economic Reports | | | | |
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- Business Inventories represents the percentage change of the amount of goods in inventory in the United States as reported by the Department of Commerce. Wall Street predicts inventories stay unchanged in May versus a 0.2 percent drop in April.
- The monthly Capacity Utilization report from the Federal Reserve indicates the percentage of industrial capacity in use. Analysts expect this measurement of industrial activity to increase to 75.8 percent in June from the previous month's 75.5 percent.
- Industrial Production represents the monthly percentage change in industrial output as measured by the Federal Reserve. The number measures the physical quantity of items produced, unlike sales value which combines quantity and price. Economists expect utilization to rise 0.4 percent for the month of June compared with May's rise of 0.2 percent.
- The commencement of construction on new homes, known as Housing Starts, is expected to fall to an annual rate of 1.680 million for June, down from 1.733 million in May, as reported by the Department of Commerce. Economists use this statistic to gauge the health of consumer spending on major purchases in the economy.
- The Commerce Department tracks the number of Building Permits granted each month. Permits allow developers to begin construction on a site, and are monitored as an indicator of future housing trends. Economists expect permits issued to slip to an annual rate of 1.660 million in June from 1.676 million 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 July 13.
- The index of Leading Economic Indicators (LEI) is expected to stay unchanged for June as compiled by the Conference Board, a business group. The LEI rose 0.4 percent in May. The index, designed to signal peaks and troughs in the business cycle, is a combination of 10 indicators, including consumer expectations, money supply data, and the change in housing permits issued. A falling index generally indicates an oncoming recession, while a climbing index signals an expansion.
- The Philadelphia Federal Reserve's monthly Business Outlook Survey is a survey of manufacturers in the Third Federal Reserve District that tracks the direction of change in overall business activity at their plants. Analysts expect the index to rise 18.0 for the month of July from the previous month's 22.2.
- The Trade Balance, or the value of U.S. imports subtracted from exports, is expected to shrink to a deficit of $35.3 billion in May from a deficit of $35.9 billion in April as reported monthly by the Commerce Department.
- The Treasury Budget is a monthly report of the surplus or deficit of the U.S. government from the Department of Treasury. Economists expect a surplus of $25.0 billion in June, down from May's surplus of $31.9 billion.
- The Consumer Price Index is expected to rise 0.1 percent in June versus no change in May. The core CPI, which excludes food and energy prices, is expected to rise 0.2 percent from the previous month's rise of 0.2 percent. This keenly watched Labor Department index measures price changes at the consumer level, and helps economists track inflation.