This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Market Preview: Consider Yourself Warned

Other companies reporting on Tuesday are ADTRAN (ADTN), EXFO (EXFO), and Yum! Brands (YUM)

The economic calendar is light again on Tuesday, headlined by the National Federation of Independent Business small business sentiment survey for September at 7 a.m. ET. The consensus estimate is for a tick up to 93.3 reading from 92.9 last time around. There will also be some data on retail sales with Johnson Redbook's weekly index just before 9 a.m. ET and the ICSC-Goldman Sachs weekly chain-store index due at 7:45 a.m. ET.

Jim O'Sullivan, chief U.S. economist at High Frequency Economics, thinks the NFIB survey could come in shy of expectations.

"We expect a pause after last month's 1.7 point rise; a reversal of some of August's gains has already been reported for the two labor components," he noted in commentary released late Monday. O'Sullivan is looking for a minimal tick up to an even 93.0 in the index, which he notes is derived from 10 components.

With technology a big headwind again on Monday, the action in Apple (AAPL - Get Report) gets more and more worrisome and it's sure to be market mover for the rest of the week.

An announcement about an iPad Mini may reportedly come this week, and contrary to the run-up ahead of the iPhone 5's launch, the stock has been beat-up of late. Monday's close at $638.17 was the stock's first finish below $640 since mid-August, and it's now down 9.5% since hitting an all-time high of $705.07 on Sept. 21. In after-hours action, Apple dipped down as low as $635.25.

And finally, a big mover after Monday's closing bell was Edwards Lifesciences (EW - Get Report). The Irvine, Calif.-based heart valve maker gave a weak outlook for the third quarter, citing the impact of austerity measures in Europe and other factors.

The company expects sales of $448 million in the September-ended quarter, below its previous targeted range of between $465 million to $485 million. Edwards said transcatheter heart valve sales were "below expectations" for the quarter, with "global sales estimated at $124 million, including U.S. sales of $55 million." Wall Street's consensus estimate is for revenue of $476.6 million in the quarter.

The stock was last quoted at $90.50, down nearly 16%, on late volume of just below 400,000, according to Nasdaq.com.

-- 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.
3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $134.68 3.40%
AA $13.46 1.80%
FDX $169.05 -0.53%
EW $130.95 -5.30%
INTC $32.50 1.30%

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs