This Week in Stocks: 7/21 - 7/27/07

[Show-me]

The Week Ahead

Last Update: 20-Jul-07 11:51 ET


The coming week will be a busy one, to say the least, as second quarter earnings kick into high gear.

There are seven Dow components scheduled to report their results, including American Express (AXP), Boeing (BA), DuPont (DD), McDonald's (MCD), 3M (MMM), Merck (MRK), and AT&T (T), along with a number of other luminaries such as Texas Instruments (TXN), United Parcel Services (UPS), US Steel (X), Amazon.com (AMZN), Corning (GLW), Xerox (XRX), Apple (AAPL), Pulte Homes (PHM), Qualcomm (QCOM), Dow Chemicals (DOW), Anheuser-Busch (BUD), and Amgen (AMGN).

It will also be a busy week in terms of economic data. Notably, Existing Home Sales and New Home Sales data will be released on Wednesday and Thursday, respectively, and will be closely watched for further signs of deterioration in the US housing market. Also out during the week will be the Fed's Beige Book, Durable Orders, and Q2 GDP and Chain Deflator.
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Monday, July 23:

• Earnings: Haliburton (HAL), Hasbro (HAS), Merck (MRK), Schering-Plough (SGP), Weatherford International (WFT), Altera (ALTR), American Express (AXP), Netflix (NFLX), Steel Dynamics (STLD), Texas Instruments (TXN)
• Economic Data: None
• Events: GE Security Analyst Meeting - Technology
• Conferences: None
• Fed Speakers: None

Tuesday, July 24:

• Earnings: AK Steel Holding (AKS), AT&T (T), Biogen Idec (BIIB), BJ Services (BJS), Burlington Northern Santa Fe (BNI), Countrywide Financial (CFC), DuPont (DD), Eli Lilly (LLY), JetBlue Airways (JBLU), Kimberly-Clark (KMB), McDonald's (MCD), McGraw-Hill (MHP), Quest Diagnostics (DGX), Pepsico (PEP), Supervalu (SVU), US Steel (X), Unisys (UNI), United Parcel Service (UPS), Western Union (WU), Amazon.com (AMZN), Chubb Corp. (CB), STMicroelectronics (STM)
• Economic Data: None
• Events: None
• Conferences: None
• Fed Speakers: Fed's Mishkin speaks at a European Central Bank conference on globalization and its effect on economic activity and inflation; Fed's Poole speaks about Energy in Wilmington, Delaware

Wednesday, July 25:

• Earnings: Boeing (BA), Colgate-Palmolive (CL), ConocoPhillips (COP), Corning (GLW), Dover (DOV), EnCana (ECA), Freeport-McMoRan (FCX), Genzyme (GENZ), Hess (HES), Nabors Industries (NBR), New York Times (NYT), Tribune Co. (TRB), WellPoint (WLP), Xerox (XRX), Apple (AAPL), Bausch & Lomb (BOL), E*Trade Financial (ETFC), Express Scripts (ESRX), Grant Prideco (GRP), Pulte Homes (PHM), Qualcomm (QCOM), Ryland Group (RYL), Symantec (SYMC)
• Economic Data: Existing Home Sales; Fed's Beige Book
• Events: Fed's Poole is honored with the Fred Heldring Award by the Global Interdependence Center at a dinner in Philadelphia
• Conferences: None
• Fed Speakers: Fed's Geithner speaks about global integration in at the IBM Forum on Global Leadership in Washington, DC

Thursday, July 26:

• Earnings: 3M (MMM), Aetna (AET), Amerisourcebergen (ABC), Beazer Homes (BZH), Blockbuster (BBI), Bristol Myers (BMY), Coca-Cola Enterprises (CCE), Comcast (CMCSA), Diamond Offshore Drilling (DO), Dow Chemical (DOW), DR Horton (DHI), Ford Motor (F), Fortune Brands (FO), Kellogg (K), Level-3 Communications (LVLT), Lockheed Martin (LMT), Monster Worldwide (MNST), Mylan Laboratories (MYL), National City (NCC), Northrop Grumman (NOC), Newell Rubermaid (NWL), Ratheon (RTN), Reynolds American (RAI), Rockwell Automation (ROK), Royal Caribbean (RYL), XM Satellite Radio (XMSR), Anheuser-Busch (BUD), Amgen (AMGN), Centex (CTX), Flextronics (FLEX), Foundry Networks (FDRY), McKesson (MCK), Western Digital (WDC)
• Economic Data: Durable Orders; Initial Claims; Help-Wanted Index; New Home Sales
• Events: MSFT Analyst Meeting 2007
• Conferences: None
• Fed Speakers: None

Friday, July 27:

• Earnings: Alltel (AT), Baker Hughes (BHI), Chevron (CVX), Clear Channel Communications (CCU), MedcoHealth Solutions (MHS)
• Economic Data: Q2 GDP and Chain Deflator; Michigan Sentiment revision
• Events: None
• Conferences: Morgan Keegan Insurance Conference
• Fed Speakers: None

--Richard Jahnke, Briefing.com

 

[Aspiration]

This might set the mood tomorrow...

http://www.zeenews.com/znnew/articles.asp?aid=384261&ssid=51&ssname=World&sid=BUS&sname=

For those with a dislike of Barclay's due to a few UFV in Barclay's favor, Barclay's apparently lost $400 million in the Bear Stearns bailout. (For the cynically minded, I guess we should expect more UFVs in Barclay's favor to get back their $400 million :notrust

 

[Show-me]

Looks like only six player missed expectation this morning out of twenty three.

Merck really beat the street as did Hasbro and Schering-Plough.

Arch Coal will probably blame their penny miss on the lack of rail to move their coal.

 

[Show-me]

[FONT=Arial,Geneva,sans-serif]With no economic data scheduled tomorrow even more emphasis will be focused on earnings. Dow component AT&T (T), DuPont (DD), and McDonald's (MCD) will be tomorrow morning's headliners. Other S&P 500 constituents reporting before the bell Tuesday include Biogen Idec (BIIB), BJ Services (BJS), Burlington Northern Santa Fe (BNI), Eli Lilly (LLY), Kimberly-Clark (KMB), Northrop Grumman (NOC), Occidental Petroleum (OXY), PepsiCo (PEP), Supervalu (SVU), U.S. Steel (X), and United Parcel Service (UPS). [/FONT]

[FONT=Arial,Geneva,sans-serif]After the close, Amazon.com (AMZN), AFLAC (AFL), C.H. Robinson (CHRW), Centex (CTX), Chubb (CB), and Robert Half International (RHI) are among the most notable names scheduled to report.[/FONT]
[FONT=Arial,Geneva,sans-serif]-- Brian Duhn, Briefing.com[/FONT]

 

[350zCommTech]

NOTE: Apple reports after the close on Wednesday.

Apple's earnings could be sweet

Although official numbers will likely come in Apple's earnings report, an estimated 500,000 iPhones were sold over the first weekend it hit shelves. At $499 to $599 a pop, that's $249.5 million to $299.5 million, some pretty tasty fruit.

The iPhone will be a massive financial impact on Apple in 2009, Munster said. "You just have to manage the reality of these things," he explained.

Wall Street is looking for earnings of 72 cents per share on revenue of $5.29 billion. In the fiscal third quarter of 2006, Apple earned 54 cents per share on $4.37 billion in sales.

http://articles.moneycentral.msn.com/Investing/Dispatch/AppleWhackedByIPhoneWorrie.aspx

This morning's news from AT&T (concerning the Iphone) was a disappointment for traders. With expections so high, this could be a sell the news situation.

 

[tsptalk]

For a market starved for good news today, Amazon.com's earnings offered a lot of cheer after the close and its shares soared more than 10% in after-hours trading.

Now up 21%. S&P futures are down, but Nasdaq futures are up.

 

[Bullitt]

I think these analysts are out of their minds for downgrading the refineries such as VLO, CVX, TSO, FTO the past week. They miss the big picture with those weekly inventory reports.

 

[clester]

With the sub-prime fears still in the market and big banks getting whacked (C-fund and I Fund) is the S fund a safer place? I still think adjustable rate loans will cause problems. Not much talk about that yet.

 

[Oldcoin]

Today 10:00am
*JUN EXISTING HOME SALES: 5.75M V 5.86ME, lowest level since Nov 2002
- prior revised from 5.99M to 5.98M

- Units Sold (in mlns) June May (Prev) June06
Total Existing Homes 5.75 5.98 5.99 6.49
Single Family 5.01 5.19 5.20 5.70
Condos/Co-ops 0.74 0.79 0.79 0.792

Units Sold, Pct Change June May (Prev)Jun07/06
Total Existing Homes -3.8 -0.5 -0.3 -11.4
Single Family -3.5 -1.0 -0.8 -12.1
Condos/Co-ops -6.3 2.6 2.6 -6.6

June May (Prev) Jun06
Total Median Price 230.1 222.7 223.7 229.3
Median Pct Change 3.3 1.3 0.0 0.3
Average Price 276.7 270.6 271.5 275.8
Average Pct Change 2.3 0.9 0.0 0.3
Units Available (mlns) 4.196 4.378 4.431 3.738
Months Worth of Supply 8.8 8.8 8.9 6.9



http://www.tradethenews.com/story_details.asp?id=243632

 

[Oldcoin]

Hey! Where the heck are those dip buyers?

 

[Birchtree]

I'm right here - even if alone. The worse things get the hotter Uncle Ben's pants will get - we need all the bad news we can get to encourage him to cut rates. Remember, no pain, no gain.

 

[Show-me]

Apple Posts Record Quarterly Profit
Wednesday July 25, 5:03 pm ET Apple Posts Record Profit, Sales in Fiscal Third Quarter

SAN JOSE, Calif. (AP) -- Apple Inc.'s fiscal third-quarter profit soared more than 73 percent, fueled by demand for its Macintosh computers, the strength of its iPod media players and the sales of 270,000 iPhones in the first two days on the market.

 

[Show-me]

http://www.briefing.com/GeneralCont...or&ArticleId=NS20070725165545AfterHoursReport

Apple reported Q3 (Jun) earnings of $0.92 per share, $0.20 better than the Reuters Estimates consensus of $0.72. Revenues rose 23.8% year/year to $5.41 bln vs the $5.29 bln consensus. Co issued downside guidance for Q4, sees EPS of $0.65 vs. $0.82 consensus; sees Q4 revs of $5.7 bln vs. $6.03 bln consensus. AAPL reported Q3 iPod shipments of 9.815 mln vs roughly 10 mln street expectation. It reported Mac shipments of 1.76 mln vs 1.7 mln street expectation; reported gross margin 36.9% vs roughly 32.7% street expectation.

 

[nnuut]

That's a good start, right?

 

[Show-me]

Oooo, for the luv of Pete what just happened? FTSE and EZ down over 1% and US futures RED, RED, RED. Is this the big flush we have been needing?

 

[Show-me]

Looks like the insurance sector is taking a hit OS off setting the gains from the energy sector. That with the lending worries in the US is making for a turn in the market. Me thinks I will go to the G and lick my amputation.

 

[mlk_man]

"11:30 am : Stocks have taken a turn for the worse over the last 30 minutes, so much so that trading curbs on the NYSE have been triggered."

What are trading curbs?

 

[offtrack]

http://en.wikipedia.org/wiki/Trading_curb

The curbs in question are program trading curbs.

 

[Show-me]

"11:30 am : Stocks have taken a turn for the worse over the last 30 minutes, so much so that trading curbs on the NYSE have been triggered."

What are trading curbs?

"circuit breaker"

 

[weatherweenie]

The last time the S&P500 closed around 1480, was on April 24th when it closed at 1,480.41