At the upcoming Federal Open Markets Committee meeting, some quantitative easing may be on the table, given slowing economic. Plus, what to expect for the earnings of retailers like Nordstrom and Macy's.
Ousted Hewlett-Packard CEO Mark Hurd may be disgraced, but his bank account isn't. He's leaving the company with a severance package worth approximately $28 million in cash and stock.
Business News You Need Today: Aug. 3, 2010
After the crunch of quarterly reports over the past two weeks, things will be fairly quiet on the earnings front Monday, with Loews and Vulcan Materials the key names reporting. But the crush resumes Tuesday, with reports from Coach, MasterCard, Molson Coors, Pfizer and Parker Hannifin.
Northrop Grumman depends on government contracts for more than 90% of revenue, making talk about cutting the budget deficit a prickly subject.
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FordFord Motor is set to deliver strong earnings when it reports second-quarter results Friday. After disastrously low sales in 2009, the auto industry as a whole has been in recovery mode this year -- and Ford has been one of the biggest beneficiaries of the revival.
Microsoft is expected to report revenue Thursday of $15.3 billion on $61.7 billion in sales for the last year. Microsoft shares remain priced at about $25 per share, where they've hovered for the last three years, compared with Apple shares which have increased by over 60% over the last year.
PepsiCo will announce its second-quarter numbers on Tuesday, and analysts expect earnings per share of $1.07 to $1.10, up from $1.02 a year earlier. If they're right, it will mark a continuation of the company's stable period of success. But PepsiCo's management is thinking bigger.
Analysts forecasts for Harley-Davidson range from 26 cents per share to 56 cents. However, if the actual figure is anywhere within that range, it will be a marked improvement over last year's earnings of 8 cents per share in the same quarter.
For better or worse, earnings season hits high gear this week. Here's a quick run down of what analysts are expecting to see, as well as a closer look at three of the biggest anticipated earnings gainers: American Express, Texas Instruments and Apple.
Chevron Corporation (CVX) said that second-quarter results should be higher than in the first quarter, boosted by improvements in downstream results. Refining margins for U.S. West Coast crude was $16.30 a barrel in the second quarter through June, compared with $13.04 in the first quarter, the company said in a statement. Downstream results also benefited from the strengthening dollar.
Investors are looking for a strong showing from the bellwether chipmker, which would offer further evidence that U.S. companies -- and tech firms in particular -- are continuing to emerge from the recession. Analysts expect Intel to come through.
Discount retailer Family Dollar Stores, Inc. (FDO) said profit in the third quarter of fiscal 2010 rose 19% from a year earlier. Net income was $104.4 million, or 77 cents per diluted share, for the quarter. Sales for the quarter gained 8.4% to $1.997 billion, with comparable store sales rising 7%, the company said in a statement. The value of the average transaction at the company%u2019s stores was flat.
British oil giant BP%u2019s 135% profit surge in the first quarter of 2010 bodes well for the slate of oil companies that will announce earnings this week. Profits should be plentiful due to the steady rise in the price of oil.
Citigroup's stock is up 40% in 2010, and up several-fold from its lows of early last year. So is the bank doing that much better? The world will get a glimpse on Monday, when the global bank will report its quarterly earnings. Analysts polled by Thomson Reuters expect Citi to break even.
Analysts' expectations for Bank of America are modest: EPS of 9 cents, down from 44 cents in the year-ago period. But with rival JPMorgan Chase's profits buoyed by strong fixed income trading, the pressure is on the bank's Merrill unit to deliver a robust performance.
Alcoa earnings: Analysts predict first-quarter EPS of 10 cents for the aluminum giant, a marked improvement from the sharp loss posted in the same period last year. But weak aluminum prices ahead could pose problems.
Activision Blizzard posted better-than-expected fourth-quarter results thanks to strong holiday sales of "Call of Duty: Modern Warfare 2" -- last year's best-selling video game title. The company also initiated a dividend and announced a $1 billion share repurchase program.
Although Electronic Arts' fundamentals look solid, analysts have not been upbeat about the games giant's upcoming results, citing a "low pick-up" in video game sales. At the end of November, total video games sales were $14.1 billion, down 12% from the same time a year ago.
Venerable AT&T reports earnings Thursday before the market opens, and even though an in-line report is expected, iPhone-brandishing AT&T is more than ready for the new, mobile-connectivity age.
A week of forward-looking Apple adoration that's likely to include the launch of its new tablet computer will begin with a less thrilling but more substantive look back as the company reports its numbers for the last quarter.
Southwest and Continental report quarterly earnings Thursday with investors keen to hear if the outfits will be adding back some capacity in 2010, an indication that the worst of the industry's downturn may be behind it.
On Thursday, chip-maker Advanced Micro Devices will step into the earnings spotlight. Analysts' expectations call for a loss of 15 cents per share, compared a loss of 69 cents per share a year ago. But even if AMD beats expectations, a sell-off may be in the cards.
After posting three straight banner quarters, JP Morgan Chase is feeling the pressure to end the year on a rising note. But for several reasons, some Wall Street analysts have dialed down their earnings expectations for the bank.
Intel, the world's No. 1 chip maker, will release its fourth-quarter earnings in a new format on Thursday, showing Wall Street how it restructured itself to remain competitive during the recession, and highlighting its winning categories.
After getting worrisome signs about consumers from bankers' earnings reports, investors will be looking at a broad range of companies this week for...