business newsTrading Radar: Apple, Amazon Earnings and More
By
Michael Sedacca
Jul 20, 2012 3:45 pm
Economics, earnings reports, and market events for the week ahead.
PRINT
Next week will be very busy in terms of earning season. Big names like Apple (AAPL), Amazon (AMZN), Boeing (BA), Pepsi (PEP), and Netflix (NFLX) will report earnings. This should drive the overall tone of the market as investors are forecasting a drop of 5%-10% across US large cap companies. If companies surprise to the upside, it could halt the move to the downside. So far, large cap companies have not underperformed to the degree that many have expected, however a number have had disastrous results and guidance.
In Europe it should be a pretty quiet week; no big summits are scheduled. On Friday, European finance ministers came to a final agreement on the Spanish bailout, causing the Spanish IBEX to fall as much as 5.8%. The EURUSD has also reached multi-year lows and stands precariously close to the edge of the cliff.
In the US, Friday will bring the first estimate of 2Q GDP. Many US banks have lowered their expectations for US growth in the past month, so keep that in mind when you see Friday's number. A lower PCE number on Friday may be viewed as a positive that Federal Reserve Chairman Ben Bernanke will have the ammunition to enact another round of quantitative easing.
Monday, July 23
US Economics (Time Zone: EDT)
08:30 Chicago Fed National Activity –prior -0.45
11:00 Fed to purchase $4.25b-$5b notes in 8 to 10-year range
11:30 Treasury selling $30b 3-month bills, $27b 6-month bills
Global Economics (Time Zone: GMT)
01:30 AUD Producer Price Index
14:00 EUR Eurozone Consumer Confidence
12:30 Germany to sell EU3b in 12-mo bills
14:00 France to sell bills
Earnings
Before:
Haliburton (HAL) EPS 75c
Coca-Cola (KO) EPS $1.09
Hasbro (HAS) EPS 24c
McDonalds (MCD) EPS $1.38
After:
Texas Instruments (TXN) EPS 34c
VMWare (VMW) EPS 66c
Tuesday, July 24
US Economics (Time Zone: EDT)
08:58 Markit US PMI – consensus 52.1, prior 52.9
10:00 Richmond Fed Manufacturing – consensus -1, prior -3
10:00 House Price Index – consensus 0.5%, prior 0.8%
11:00 Fed buying $1.5b-2b in 25 to 30-year range
11:30 Treasury selling 4-week, 52-week bills
1:00 Treasury selling $35b 2-yr notes
Global Economics (Time Zone: GMT)
07:30 EUR German PMI
08:00 EUR Eurozone PMI
12:30 CAD Retail Sales
22:45 NZD Trade Balance
10:30 Spain to sell 3-month, 6-month bills
Earnings
Before:
Lockheed Martin (LMT) EPS $1.91
Du Pont (DD) EPS $1.46
EMC (EMC) EPS 39c
Under Armour (UA) EPS 5c
AT&T (T) EPS 63c
After:
Netflix (NFLX) EPS 5c
Panera Bread (PNRA) EPS $1.43
Aflac (AFL) EPS $1.61
Apple (AAPL) EPS $10.40
Buffalo Wild Wings (BWW) EPS 68c
Broadcom (BRCM) EPS 67c
Wednesday, July 25
US Economics (Time Zone: EDT)
07:00 MBA Mortgage Purchase Index
10:00 New Home Sales – consensus 372K, prior 369K
10:00 New Home Sales MoM – consensus 0.8%, prior 7.6%
11:00 Fed to purchase $4.5b to $5.5b notes in 8 to 10-year range
11:00 Treasury to sell $35b 5-yr notes
Global Economics (Time Zone: GMT)
01:30 AUD CPI
08:00 EUR German IFO –Business Climate
08:30 GBP GDP
21:00 NZD Reserve Bank of New Zealand Rate Decision
12:00 Germany to sell 11-year inflation linked bonds
12:30 Germany to sell EU3b 30-yr bonds
Earnings
Before:
General Dynamics (GD) EPS $1.74
Corning (GLW) EPS 31c
Radioshack (RSH) EPS 5c
Wyndham (WYN) EPS 84c
Caterpillar (CAT) EPS $2.29
Boeing (BA) EPS $1.10
ConocoPhillips (COP) EPS $1.27
Pepsi (PEP) EPS $1.10
Ford (F) EPS 29c
After:
Zynga (ZNGA) EPS 6c
Las Vegas Sands (LVS) EPS 60c
Visa (V) EPS $1.45
Delta Airlines (DAL) EPS 68c
Whole Foods (WFM) EPS 61c
AOL (AOL) EPS 20c
Thursday, July 26
US Economics (Time Zone: EDT)
08:30 Initial Jobless Claims – consensus 380K, prior 386K
08:30 Continuing Claims – consensus 3300K, prior 3314K
08:30 Durable Goods – consensus 0.3%, prior 1.3%
08:30 Durable Goods Ex Transport – consensus 0.0%, prior 0.7%
08:30 Cap Goods Orders Nondef Ex Air – consensus -0.5%, prior 1.6%
10:00 Pending Home Sales MoM– consensus 0.9%, prior 5.9%
11:00 Kansas City Fed – consensus 3, prior 3
11:00 Fed to purchase $1.5b-2.b in 25 to 30-year bonds
1:00 U.S. to sell $29b in 7-yr notes
Global Economics (Time Zone: GMT)
06:00 EUR German GfK Consumer Confidence
23:30 JPY CPI
23:50 JPY Retail Trade
Earnings
Before:
Dunkin Brands (DNKN) EPS 33c
Dow Chemical (DOW) EPS 64c
Exxon-Mobil (XOM) EPS $1.95
McGraw-Hill (MHP) EPS 76c
After:
CA (CA) EPS 60c
Amazon (AMZN) EPS 2c
Starbucks (SBUX) EPS 45c
Expedia (EXPE) EPS 72c
3M (MMM) EPS $1.65
Facebook (FB) EPS 11c
Friday, July 27
US Economics (Time Zone: EDT)
08:30 2Q GDP 1st Estimate (Annualized) – consensus 1.4%, prior 1.9%
08:30 Personal Consumption – consensus 1.4%, prior 2.5%
08:30 GDP Price Index – consensus 1.6%, prior 2.0%
08:30 Core PCE – consensus 1.9%, prior 2.3%
09:55 University of Michigan Confidence Statement – consensus 72.5, prior 72.0
11:00 Fed to sell $7b-$8b notes in 3-year range
Global Economics (Time Zone: GMT)
01:30 CNY Industrial Profits
07:00 CHF KOF Swiss Leading Indicator
12:00 EUR German CPI
11:00 Italy to sell bills
11:10 UK to sell bills
Earnings
Before:
Merck (MRK) EPS $1.01
Newmont Mining (NEM) EPS 96c
Legg-Mason (LM) EPS 18c
Chevron (CVX) EPS $3.22
Twitter: @MichaelSedacca
Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
In Europe it should be a pretty quiet week; no big summits are scheduled. On Friday, European finance ministers came to a final agreement on the Spanish bailout, causing the Spanish IBEX to fall as much as 5.8%. The EURUSD has also reached multi-year lows and stands precariously close to the edge of the cliff.
In the US, Friday will bring the first estimate of 2Q GDP. Many US banks have lowered their expectations for US growth in the past month, so keep that in mind when you see Friday's number. A lower PCE number on Friday may be viewed as a positive that Federal Reserve Chairman Ben Bernanke will have the ammunition to enact another round of quantitative easing.
Monday, July 23
US Economics (Time Zone: EDT)
08:30 Chicago Fed National Activity –prior -0.45
11:00 Fed to purchase $4.25b-$5b notes in 8 to 10-year range
11:30 Treasury selling $30b 3-month bills, $27b 6-month bills
Global Economics (Time Zone: GMT)
01:30 AUD Producer Price Index
14:00 EUR Eurozone Consumer Confidence
12:30 Germany to sell EU3b in 12-mo bills
14:00 France to sell bills
Earnings
Before:
Haliburton (HAL) EPS 75c
Coca-Cola (KO) EPS $1.09
Hasbro (HAS) EPS 24c
McDonalds (MCD) EPS $1.38
After:
Texas Instruments (TXN) EPS 34c
VMWare (VMW) EPS 66c
Tuesday, July 24
US Economics (Time Zone: EDT)
08:58 Markit US PMI – consensus 52.1, prior 52.9
10:00 Richmond Fed Manufacturing – consensus -1, prior -3
10:00 House Price Index – consensus 0.5%, prior 0.8%
11:00 Fed buying $1.5b-2b in 25 to 30-year range
11:30 Treasury selling 4-week, 52-week bills
1:00 Treasury selling $35b 2-yr notes
Global Economics (Time Zone: GMT)
07:30 EUR German PMI
08:00 EUR Eurozone PMI
12:30 CAD Retail Sales
22:45 NZD Trade Balance
10:30 Spain to sell 3-month, 6-month bills
Earnings
Before:
Lockheed Martin (LMT) EPS $1.91
Du Pont (DD) EPS $1.46
EMC (EMC) EPS 39c
Under Armour (UA) EPS 5c
AT&T (T) EPS 63c
After:
Netflix (NFLX) EPS 5c
Panera Bread (PNRA) EPS $1.43
Aflac (AFL) EPS $1.61
Apple (AAPL) EPS $10.40
Buffalo Wild Wings (BWW) EPS 68c
Broadcom (BRCM) EPS 67c
Wednesday, July 25
US Economics (Time Zone: EDT)
07:00 MBA Mortgage Purchase Index
10:00 New Home Sales – consensus 372K, prior 369K
10:00 New Home Sales MoM – consensus 0.8%, prior 7.6%
11:00 Fed to purchase $4.5b to $5.5b notes in 8 to 10-year range
11:00 Treasury to sell $35b 5-yr notes
Global Economics (Time Zone: GMT)
01:30 AUD CPI
08:00 EUR German IFO –Business Climate
08:30 GBP GDP
21:00 NZD Reserve Bank of New Zealand Rate Decision
12:00 Germany to sell 11-year inflation linked bonds
12:30 Germany to sell EU3b 30-yr bonds
Earnings
Before:
General Dynamics (GD) EPS $1.74
Corning (GLW) EPS 31c
Radioshack (RSH) EPS 5c
Wyndham (WYN) EPS 84c
Caterpillar (CAT) EPS $2.29
Boeing (BA) EPS $1.10
ConocoPhillips (COP) EPS $1.27
Pepsi (PEP) EPS $1.10
Ford (F) EPS 29c
After:
Zynga (ZNGA) EPS 6c
Las Vegas Sands (LVS) EPS 60c
Visa (V) EPS $1.45
Delta Airlines (DAL) EPS 68c
Whole Foods (WFM) EPS 61c
AOL (AOL) EPS 20c
Thursday, July 26
US Economics (Time Zone: EDT)
08:30 Initial Jobless Claims – consensus 380K, prior 386K
08:30 Continuing Claims – consensus 3300K, prior 3314K
08:30 Durable Goods – consensus 0.3%, prior 1.3%
08:30 Durable Goods Ex Transport – consensus 0.0%, prior 0.7%
08:30 Cap Goods Orders Nondef Ex Air – consensus -0.5%, prior 1.6%
10:00 Pending Home Sales MoM– consensus 0.9%, prior 5.9%
11:00 Kansas City Fed – consensus 3, prior 3
11:00 Fed to purchase $1.5b-2.b in 25 to 30-year bonds
1:00 U.S. to sell $29b in 7-yr notes
Global Economics (Time Zone: GMT)
06:00 EUR German GfK Consumer Confidence
23:30 JPY CPI
23:50 JPY Retail Trade
Earnings
Before:
Dunkin Brands (DNKN) EPS 33c
Dow Chemical (DOW) EPS 64c
Exxon-Mobil (XOM) EPS $1.95
McGraw-Hill (MHP) EPS 76c
After:
CA (CA) EPS 60c
Amazon (AMZN) EPS 2c
Starbucks (SBUX) EPS 45c
Expedia (EXPE) EPS 72c
3M (MMM) EPS $1.65
Facebook (FB) EPS 11c
Friday, July 27
US Economics (Time Zone: EDT)
08:30 2Q GDP 1st Estimate (Annualized) – consensus 1.4%, prior 1.9%
08:30 Personal Consumption – consensus 1.4%, prior 2.5%
08:30 GDP Price Index – consensus 1.6%, prior 2.0%
08:30 Core PCE – consensus 1.9%, prior 2.3%
09:55 University of Michigan Confidence Statement – consensus 72.5, prior 72.0
11:00 Fed to sell $7b-$8b notes in 3-year range
Global Economics (Time Zone: GMT)
01:30 CNY Industrial Profits
07:00 CHF KOF Swiss Leading Indicator
12:00 EUR German CPI
11:00 Italy to sell bills
11:10 UK to sell bills
Earnings
Before:
Merck (MRK) EPS $1.01
Newmont Mining (NEM) EPS 96c
Legg-Mason (LM) EPS 18c
Chevron (CVX) EPS $3.22
Twitter: @MichaelSedacca
Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
No positions in stocks mentioned.
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