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Market Preview: Pressed for Time

Other companies slated to report before Thursday's open include Bon-Ton Stores (BONT), Children's Place (PLCE), Dollar Tree Stores (DLTR), GameStop (GME), Perry Ellis (PERY), Ross Stores (ROST), Stage Stores (STGS), Stein Mart (SMRT), The Buckle (BKE), and Viacom (VIAB).

The late roster features Applied Materials (AMAT), Aruba Networks (ARUN), Autodesk (ADSK), Cosi (COSI), Dole Food (DOLE), Gap (GPS), Intuit (INTU), Marvell Technology (MRVL), New York & Co. (NWY), Sears Holdings (SHLD), Sina Corp. (SINA), and The Wet Seal (WTSLA).

Thursday's economic calendar features weekly initial and continuing jobless claims at 8:30 a.m. ET; the consumer price index for October at 8:30 a.m. ET; and the Empire State manufacturing survey for November at 8:30 a.m. ET.

And finally, there were plenty of headlines to parse after Wednesday's closing bell with a smattering of earnings reports competing with a barrage of Schedule 13F filings.

One stock to watch on Thursday will be Yahoo! (YHOO), which could see some buying interest following news that Greenlight Capital's David Einhorn has jumped back into the stock, snapping up roughly four million shares in the calendar third quarter.

Shares of Petsmart (PETM), meantime, were higher in late trades after the Phoenix-based pet products retailer reported above-consensus quarterly results.

The company posted a profit of $82.3 million, or 75 cents a share, for its third quarter ended Sept. 30 on sales of $1.63 billion, ahead of the average estimate of analysts polled by Thomson Reuters for earnings of 63 cents a share on sales of $1.62 billion.

The stock was last quoted at $68.50, up 5.6%, on volume of nearly 200,000, according to Nasdaq.com.

Also advancing in the extended session was NetApp (NTAP) after the Sunnyvale, Calif.-based maker of storage and data management software delivered a solid beat in its fiscal second quarter and gave a robust outlook as well.

NetApp forecast non-GAAP earnings of 53 to 58 cents a share for its fiscal third quarter ending in January on revenue ranging from $1.575 billion to $1.675 billion. That view compares to Wall Street's current consensus estimate for earnings of 54 cents a share on revenue of $1.62 billion.

Shares of NetApp were last quoted at $29.89, up 10.2%, on volume of 3.89 million, according to Nasdaq.com.

For its part, Texas Instruments (NTAP) edged up after the bell as the company announced fresh restructuring plans calling for the elimination of 1700 jobs, or roughly 5% of its workforce. The company anticipates charges totaling $325 million in connection with the restructuring program. It's targeting annual savings of $450 million from the moves.

--Written by Michael Baron in New York.



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

Stock quotes in this article: WMT, TGT, DELL, PETM, YHOO, SPY, ^GSPC, ^DJI, ^IXIC 
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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