Trading Radar: All Eyes on Best Buy
Stay one step ahead of the rest.
Traders will be watching for the PPI, CPI, Philadelphia Fed, Housing Starts and Retail sales to name a few. In addition to jam packed econ data, traders will be waiting for earnings from Best Buy (BBY), Adobe (ADBE), Kroger (KR), Fedex (FDX) and Palm (PALM).
As a main play on the consumer, Best Buy will be a stock to watch next week. Barclay's and Jefferies both came out this past week and raised their price targets on the retailer to $44 and $48. Both firms are also expecting a strong quarter from the company thanks to improving sales trends. Current estimates call for the electronics retailer to report EPS of $0.41 on revenues of 10.77 bln.
For more, see Six Reasons Best Buy is a Retail Winner.
Monday, September 14
01:00 3- Month Bill Auction
01:00 6-Month Bill Auction
Jeff Lacker 12:30
Janet Yellen 03:50
MAPP Presentation of Phase 3 LEVADEX data
HUM, ABT, GILD, MHS at Morgan Stanley Global Healthcare Conference
ACGL, AWAC, FSR, HCII at Fox-Pitt, Kelton Inc Bermuda in Boston Conference
FFIN, GBCI at SourceMedia America's Bank Board Symposium
HTSX, SNDK, STAR, DMAN at Deutsche Bank Securities Technology Conference
ADSK, FLWS, NVTL, SAP at ThinkEquity Growth Conference
Tuesday, September 15
08:30 Core PPI (0.1% cons)
08:30 PPI (0.8% cons)
08:30 Retail Sales (1.6% cons.)
08:30 Retail Sales ex-auto (0.5% cons)
08:30 Empire Manufacturing
10:00 Business Inventories (-0.8% cons)
Before: BBY, CBRL, KR
After: ADBE, CGA, TSCM
BMO Capital Markets 2009 Media & Telecom Conference
Wednesday, September 16
08:30 Core CPI (0.1% cons)
08:30 CPI (0.4% cons)
09:00 Net Long-term TIC Flows
09:15 Capacity Utilization (69.1% cons.)
09:15 Industrial Production (0.7% cons)
10:30 Crude Inventories
After: APOG, CKR, DBRN, ORCL
Thursday, September 17
08:30 Building Permits (570k cons.)
08:30 Housing Starts (588k cons.)
08:30 Initial Claims
08:30 Continuing Claims
10:00 Philadelphia Fed
Before: DFS, FDX, PIR, SMTS
After: HIS, PALM
Friday, September 18
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