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Market Preview: No QE3, No Problem

As for Thursday's scheduled news, Pier 1 Imports (PIR - Get Report) is slated to report its second-quarter results before the opening bell. The average estimate of analysts polled by Thomson Reuters is for earnings of 19 cents a share in the three months ended in August on revenue of $367.2 million.

Shares of the specialty retailer are up more than 60% in the past year, hitting a 52-week high of $19.62 on Monday, and the sell side is bullish ahead of the report with 8 of the 12 analysts covering the stock at either strong buy (7) or buy (1) and the median 12-month price target at $21.

Thursday's economic calendar includes weekly initial and continuing jobless claims at 8:30 a.m. ET; the producer price index for August at 8:30 a.m. ET; and the Treasury budget for August at 2 p.m. ET.

-- Written by Michael Baron in New York.



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

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