Medtronic shares are up 14% so far in 2011, but Wunderlich Securities sees the report as an afterthought since the company is in between CEOs after naming Omar Ishrak of General Electric (GE) to take over for William Hawkins. Ishrak joins Medtronic on June 13.
The economic data for Tuesday features new-home sales at 10:00 a.m. ET and durable orders at 8:30 a.m ET; both readings are for April. Economists are expecting April's sales activity for new homes to put the annual rate at 300,000, according to Briefing.com, and Ian Shepherdson, chief economist at High Frequency Economics is in agreement.
"New home sales are, as far as we know, the weakest major U.S. economic indicator," he wrote in a research note. "They remain close to their all-time low, having dropped about 80% from their peak, and we think it's unlikely that today's
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