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Market Preview: Consumer Confidence, Microsoft, Nike

Stocks in this article: MSFTBACKFTNKEEXFOZZPRGS

On Tuesday, the Dow component is expected to launch Office 365, which is believed to include a hosted version of its Exchange email product. S&P reiterated a buy rating on Microsoft on Monday ahead of the launch.

"We view this development as a positive, as the company competes with Google (GOOG) in the emerging online productivity suite market," the firm wrote. "We believe revenues from its monthly subscription fees will be incremental at first, but think they will eventually cannibalize sales of Microsoft Office, as customers shift from a desktop version of the software to the cloud computing version."

Tuesday's earnings reports are mostly confined to after the closing bell with numbers due from EXFO Electro-Optical (EXFO), Sealy Corp. (ZZ), and Progress Software (PRGS).

Two stocks likely to be active in Tuesday's regular session are Nike (NKE), which jumped in after-hours action after posting better than expected earnings on strong sales and expense control; and Dow component Kraft Foods (KFT), which can count Nelson Peltz's Trian Fund Management as a shareholder again after the hedge fund disclosed a 12.2 million share stake as of March 31 in the company late Monday.

-- Written by Michael Baron in New York.



>To contact the writer of this article, click here: Michael Baron.

>To submit a news tip, send an email to: tips@thestreet.com

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
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