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Tech Industry

The week ahead: Earnings march or funeral wake?

Earnings season kicks off with a vengeance this week, as hundreds of companies will tell Wall Street how their businesses fared in the second quarter.

    Following are some of the notable tech-related events scheduled for the week of July 16 through July 20.

    Earnings season kicks off with a vengeance this week, as hundreds of companies will tell Wall Street how their businesses fared in the second quarter.

    Many investors believe that earnings for the tech sector will be as tough as in the first quarter. Of the 419 tech companies that issued earnings preannouncements this quarter, 318 companies, or 76 percent, warned of lower earnings, according to First Call.

    At the same time during the previous quarter, about 371 companies warned out of the 483, or 77 percent.

    Companies like AOL Time Warner, Intel and Microsoft are scheduled to report during the week.

    Apple Computer reports earnings Tuesday, and the Macintosh faithful will congregate for the Macworld Expo in New York, where enthusiasts can learn about present and future Apple products.

    Wall Street also will be hanging on every word coming from Federal Reserve Chairman Alan Greenspan, as he gives his usual testimony on monetary policy to Congress on Wednesday.

    Greenspan heads the Federal Open Market Committee, which meets regularly to set interest rates. Investors often listen to speeches and appearances by Fed officials for clues on future rate changes.

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

    Other events scheduled this week:

    Tech Events
    Monday, July 16
    • Semicon West takes place in San Francisco at the Moscone Center, July 16-18, then moves to the San Jose Convention Center in San Jose, Calif., July 18-20. The conference gives chip-manufacturing equipment makers the chance to show off their wares to chip producers.

    • The Congressional Internet Caucus will hold a hearing on the Internet sales tax issue at the U.S. Capitol Building, Room SC-5, in Washington.

    • The Online Privacy and Training Conference will take place at the Hotel Inter-Continental in Chicago, July 16-18. The conference is for IT professionals concerned about security and privacy and will focus on how to make e-business networks more privacy conscious.

    • Alexander Resources will hold a seminar called 3G Wireless in Washington, July 16-17. The event is geared toward wireless-industry professionals who wish to learn more about the pros and cons concerning the upcoming technology that will run mobile phone networks.

    • Marcus Evans will hold a conference called m-Enterprise in Chicago, July 16-17. The event is for tech executives who want to learn about using wireless technology to run their companies.

    • Market Access International will hold a conference on security at the Ronald Reagan Building in Washington. The event is for government IT administrators who wish to learn more about computer and network security.

    • Fujitsu Technology Solutions will introduce its new top-end Unix server, a 128-processor behemoth that will put pressure on Sun Microsystems, IBM and Hewlett-Packard.

    Tuesday, July 17

    • Apple Computer kicks off its Macworld Expo conference at the Jacob K. Javits Center in New York, July 17-20. The event features all things related to Macintosh computers and Apple. Featured speakers will include Apple CEO Steve Jobs, who will give a keynote talk July 18, when he will likely introduce faster iMacs and Power Macs.

    • Active Communications presents Enterprise Data Mining for eBusiness at the Swissotel in Boston, July 17-18. The event is for Internet executives interested in learning how to collect and analyze online customer information.

    Wednesday, July 18

    • The International Academy of Digital Arts and Sciences will present the Webby Awards at the War Memorial Opera House in San Francisco on July 18. The event is similar to the Academy Awards for Web sites and aims to recognize outstanding achievements in the Internet media industry. The awards present honors to Web sites in 27 categories including activism, commerce, community, education, fashion, film, finance, games, government & law, health, humor, kids, music, news, politics, science, spirituality, travel and weird.

    Earnings

    Monday, July 16

    • Novellus Systems makes manufacturing equipment for chipmakers. Per-share consensus estimate for the second quarter: profit of 39 cents.

    • Unisys makes mainframe computer hardware. Per-share consensus estimate for the second quarter: profit of 9 cents.

    Tuesday, July 17
    • Apple Computer makes personal computers. Per-share consensus estimate for the third fiscal quarter: profit of 15 cents.

    • Intel makes chips for PCs and other electronic equipment. Per-share consensus estimate for the second quarter: profit of 10 cents.

    • RF Micro Devices makes chips for wireless communications equipment. Per-share consensus estimate for the first fiscal quarter: loss of 5 cents.

    • RealNetworks develops media software for PCs. Per-share consensus estimate for the second quarter: profit of 2 cents.

    • Veritas Software makes software for data-storage networks. Per-share consensus estimate for the second quarter: profit of 19 cents.

    • Teradyne manufactures chip test equipment. Per-share consensus estimate for the second quarter: loss of 12 cents.

    Wednesday, July 18
    • Akamai Technologies provides storage and content-delivery services to Web sites. Per-share consensus estimate for the second quarter: loss of 50 cents.

    • EMC makes computer data-storage equipment. Per-share consensus estimate for the second quarter: profit of 5 cents.

    • IBM is one of the largest makers of computer hardware in the world. Per-share consensus estimate for the second quarter: profit of $1.15.

    • TheStreet.com is a Web site that covers financial news. Per-share consensus estimate for the second quarter: loss of 24 cents.

    • AOL Time Warner is a media conglomerate that provides Internet access, cable service and media content. Per-share consensus estimate for the second quarter: profit of 28 cents.

    • Level 3 Communications is a phone service carrier that operates a nationwide high-speed communications network. Per-share consensus estimate for the second quarter: loss of $2.02.

    • Tellabs makes communications equipment for telecom carriers. Per-share consensus estimate for the second quarter: zero cents.

    • Applied Micro Circuits makes communications chips. Per-share consensus estimate for the first fiscal quarter: loss of 5 cents.

    • Broadcom makes chips for communications equipment. Per-share consensus estimate for the second quarter: loss of 17 cents.

    • E*Trade Group operates an online stock-trading Web site. Per-share consensus estimate for the second quarter: profit of 1 cent.

    • Extreme Networks manufactures communications equipment for telecom carriers. Per-share consensus estimate for the fourth fiscal quarter: loss of 1 cent.

    • Handspring makes handheld personal computers. Per-share consensus estimate for the fourth fiscal quarter: loss of 32 cents.

    • Siebel Systems develops database sales software. Per-share consensus estimate for the second quarter: profit of 17 cents.

    • Symantec produces antivirus software. Per-share consensus estimate for the first fiscal quarter: profit of 41 cents.

    • Travelocity.com is an e-commerce Web site that provides travel services. Per-share consensus estimate for the second quarter: profit of 4 cents.

    Thursday, July 19
    • Sprint FON Group provides long-distance and data services to businesses and individuals. Per-share consensus estimate for the second quarter: profit of 28 cents.

    • Ariba makes Internet software for businesses. Per-share consensus estimate for the third fiscal quarter: loss of 12 cents.

    • Cypress Semiconductor makes chips for computers and telecom equipment. Per-share consensus estimate for the second quarter: zero cents.

    • Microsoft makes software for consumers and businesses. Per-share consensus estimate for the fourth fiscal quarter: profit of 42 cents.

    • Nokia is one of the world's largest makers of mobile phones and also manufactures other kinds of wireless equipment. Per-share consensus estimate for the second quarter: profit of 14 cents.

    • Sun Microsystems makes Web servers and software. Per-share consensus estimate for the fiscal fourth quarter: profit of 3 cents.

    • EarthLink provides dial-up and high-speed Internet access. Per-share consensus estimate for the second quarter: loss of 27 cents.

    • Atmel makes chips for mobile phones and other communications equipment. Per-share consensus estimate for the second quarter: zero cents.

    • Transmeta makes chips for PCs. Per-share consensus estimate for the second quarter: loss of 14 cents.

    • CDW Computer Centers sells computers to businesses and organizations through direct marketing and retail outlets. Per-share consensus estimate for the second quarter: profit of 41 cents.

    • Commerce One develops e-business software for business-to-business marketplaces. Per-share consensus estimate for the second quarter: loss of 21 cents.

    • Conexant Systems manufactures chips for communications equipment. Per-share consensus estimate for the third fiscal quarter: loss of 45 cents.

    • Compuware makes network testing software. Per-share consensus estimate for the first fiscal quarter: profit of 11 cents.

    • eBay runs an auction Web site. Per-share consensus estimate for the second quarter: profit of 9 cents.

    • Flextronics makes electronic components for networking and telecom-equipment makers. Per-share consensus estimate for the first fiscal quarter: profit of 19 cents.

    • Gateway makes and sells PCs to consumers. Per-share consensus estimate for the second quarter: loss of 1 cent.

    • Inktomi makes software for Web sites. Per-share consensus estimate for the third fiscal quarter: loss of 18 cents.

    • Macromedia develops graphics and animation software for Web sites. Per-share consensus estimate for the first fiscal quarter: loss of 17 cents.

    • Nortel Networks makes communications equipment for telecom carriers. Per-share consensus estimate for the second quarter: loss of 48 cents.

    • PMC-Sierra makes chips for telecom equipment makers. Per-share consensus estimate for the second quarter: loss of 8 cents.

    • Vitesse Semiconductor makes chips for telecom equipment makers. Per-share consensus estimate for the third fiscal quarter: loss of 6 cents.

    • Xilinx designs and manufactures chips for network and telecom equipment makers. Per-share consensus estimate for the first fiscal quarter: profit of 8 cents.

    • StorageNetworks is a company that outsources data storage for its clients. Per-share consensus estimate for the second quarter: loss of 34 cents.

    Friday, July 20
    • Avici Systems makes high-speed routers for telecom networks. Per-share consensus estimate for the second quarter: loss of 24 cents.

    • Ericsson is one of the largest makers of mobile phones. Per-share consensus estimate for the second quarter: loss of 6 cents.

    Economic Reports

    Monday, July 16

    • Business Inventories represents the percentage change in the amount of goods in inventory in the United States as reported by the Department of Commerce. Wall Street predicts that this number will fall 0.1 percent in May vs. no change in April.

    Tuesday, July 17
    • 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 production to fall 0.5 percent in June compared with the previous month's drop of 0.8 percent.

    • The monthly Capacity Utilization report from the Federal Reserve indicates the percentage of industrial capacity in use. Wall Street expects the number to fall to 77 percent in June from May's 77.4 percent.

    Wednesday, July 18
    • The Consumer Price Index is expected to rise 0.1 percent in June from last month's rise of 0.4 percent. Economy watchers estimate the core CPI, which excludes food and energy prices, will rise 0.2 percent from May's 0.1 percent increase. This Labor Department index tracks the change in prices at the consumer level.

    • The commencement of construction on new homes, known as Housing Starts, is expected to fall to 1.6 million for June, down from 1.62 million in May, as reported by the Department of Commerce. Economists use this statistic to gauge the health of consumer spending on large items in the economy.

    • Federal Reserve Chairman Alan Greenspan gives semiannual monetary policy testimony to the House Financial Services Committee in Washington.

    Thursday, July 19
    • The Trade Balance, or the value of U.S. imports subtracted from exports, is expected to decrease to a deficit of -$32 billion in May from -$32.2 billion in April as reported monthly by the Commerce Department.

    • The index of Leading Economic Indicators (LEI) is expected to rise 0.3 percent for June compared with May's increase of 0.5 as compiled by the Conference Board, a business group. 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 negative reading generally indicates an oncoming recession, while a positive value signals an expansion.

    • 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 July 14.

    • 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. Wall Street expects business activity to decline of 0.5 percent for the month of July. Last month, business activity fell 3.7 percent.

    Friday, July 20
    • The Treasury Budget is a monthly report of the surplus or deficit of the U.S. government from the Department of Treasury. The surplus is expected to decrease in June to -$35 billion from $55.9 billion in May.