The week ahead: Holding off a recession
Wall Street will get a better idea of where the U.S. economy is headed this week after the government releases data on economic growth.
Following are some of the notable tech-related events scheduled for the week of August 27 through August 31. Wall Street will get a better idea of where the U.S. economy is headed this week after the government releases data on economic growth.
The Commerce Department will release preliminary figures for second-quarter gross domestic product, the value of all the goods and services produced during that time frame.
Advance numbers pegged second-quarter growth at 0.7 percent from the first quarter, but some economists think that growth will be revised down and stay flat. Negative GDP growth for two consecutive quarters is generally considered to be a recession.
Final second-quarter GDP figures will be released Sept. 28.
On the conference front, enthusiasts for the open-source operating system software Linux will gather in San Francisco for LinuxWorld, while Intel followers will convene down the road in San Jose, Calif., for a hardware and software developers conference.
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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- LinuxWorld takes place at the Moscone Center in San Francisco, Aug. 26-30. The event is for enthusiasts of Linux operating system software and features keynote speeches by Compaq Computer CTO Shane Robinson, Red Hat CEO Mathew Szulik, VA Linux CEO Larry Augustin, and Stanford Law School professor Lawrence Lessig.
- Chipmaking giant Intel will hold its developer conference at the San Jose Convention Center in San Jose, Calif., Aug. 27-30. The event is for hardware and software developers who want to learn about present and future products from Intel and features exhibits, demonstrations and presentations about all things Intel. Keynote speakers include Intel's director of research, David Tennenhouse.
- The Institute for International Research will hold a conference on mobile billing at the Omni Interlocken Resort in Denver, Aug. 27-28. The gathering is for people in the telecommunications industry interested in learning more about how to bill wireless users for mobile services.
- Opnetwork 2001 takes place at the Reagan Building in Washington D.C., Aug. 27-31. The conference is for manufacturers, business IT managers, and executives from telecommunications carriers and will address issues related to the design and management of communications networks. Representatives from Cable & Wireless, Terawave, Ohio State University, Charles Schwab, MIT, and Tellium will make keynote presentations.
- Marcus Evans will hold a conference on routing and switching technology in Boston, Aug. 27-29. The event is for professionals in the telecommunications equipment and telecommunications carrier sectors and will focus on the equipment and the networks needed for high-speed communication services.
- IT consulting company the Delphi Group will host an executive summit at the St. Regis in Aspen, Colo., Aug. 26-28. The event includes presentations by executives from Cisco Systems, Nokia, Qualcomm, Research In Motion, and MasterCard and will address how businesses can use wireless technology to become more efficient.
- The Illinois CPA Society/Foundation will host the Business & Technology Solutions Show at the Donald E. Stephens Convention Center in Rosemont, Ill., Aug. 28-29. The event is geared toward professionals in the business, finance and technology industries and features exhibits from non-tech and tech companies like WorldCom, RSA Security, and Sprint PCS. Keynote speakers include Tootsie Roll Industries CEO Ellen Gordon and Katherine Gehl, who worked at Oracle, and is now special assistant to the mayor of Chicago for technology development initiatives.
- DCI will hold a series of e-commerce conferences at the Jacob K. Javitts Center in New York, Aug. 28-30. The events will address online customer service, data storage and warehousing of consumer data, and wireless e-commerce and customer service.
- Internet and e-commerce software maker Computer Associates will hold its annual shareholders meeting Aug. 29 at 10 a.m. EDT at the Wyndham Windwatch Hotel in Islandia, N.Y.
- Consulting company Information Gatekeepers will run a seminar on optical communications at the Burlington Marriott in Burlington, Mass. on Aug. 29. The daylong event provides the opportunity for telecommunications carriers and equipment makers to learn about the needs of Ethernet carriers through presentations from carriers like Yipes, Cogent and Giant Loop. Ethernet is a communications standard for LANs (local area networks), which typically encompass small geographical areas like cities.
- The Localization Industry Standards Association will hold the LISA Forum at the Drake Hotel in Chicago, Aug. 29-31. The gathering features exhibits, workshops and case studies on localization, which is taking a product and making it linguistically and culturally appropriate to the country, region and language where it will be used and sold. The event will also address localization for software, Web sites and e-commerce projects and includes panels and speeches by executives from Hewlett-Packard, IBM and Ask Jeeves.
Earnings
- Dycom Industries designs, builds and maintains coaxial and fiber-optic cable networks as well as power supply networks. Per-share consensus estimate for the fourth fiscal quarter: profit of 32 cents.
- Alloy Online operates an e-commerce Web site focused on teenagers. Per-share consensus estimate for the second fiscal quarter: loss of 11 cents.
- Loudcloud provides Web site services to businesses like hosting and design. Per-share consensus estimate for the second fiscal quarter: loss of 88 cents.
- Tech Data is one of the largest distributors of computer products in the world. Per-share consensus estimate for the second fiscal quarter: profit of 41 cents.
- TiVo provides equipment that allows consumers to digitally record TV shows and control live programming at home. Per-share consensus estimate for the second fiscal quarter: loss of 93 cents.
Economic Reports
- The National Association of Realtors reports Existing Home Sales for the month of July, representing the number of previously built homes sold nationwide. The data indicate the strength of demand in housing and in the overall economy on the premise that the economy heats up as more consumers buy homes, cars and other hot-ticket items. Economists expect sales to fall to 5.3 million from 5.33 million in June.
- Consumer Confidence will be reported by the Conference Board for the month of August. This index represents consumer sentiment toward the economy, and economists expect confidence to climb to 117.5 from 116.5 in July.
- The Commerce Department will report preliminary GDP numbers for the second quarter of 2001. The government previously reported in an advance release that GDP rose 0.7 percent for the second quarter, and economists now expect that number to be revised downwards to zero percent growth. The economy grew 1.3 percent in the first quarter and 1.9 percent in last year's fourth quarter.
- 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 of Aug. 25.
- Personal income shows the monthly percentage change in household income from the Commerce Department. This number is expected to rise 0.3 percent for July, the same growth rate for June.
- The Help Wanted Index for the month of July is a monthly survey by the Conference Board of the volume of help-wanted advertising in major national newspapers. Wall Street uses the index to measure trends in job growth. No estimates were available, but the index fell to 58 in June from 60 in May. It stood at 82 in June of 2000.