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This Week: COST, Europe, GDP

NEW YORK ( TheStreet) -- TheStreet's Lindsey Bell and Andrew Krill highlight some of the important events taking place in this Memorial Day-shortened week.

Bell and Krill are mostly focused on the end of the week, with earnings and economic data being the most important.

Krill is watching Costco (COST) as it reports earnings on Thursday. He expects double-digit earnings growth. He added, "We like that 75% of profits are recurring from the annual membership fee."

"Domestically, we're going to have our eye on the second look at first-quarter GDP," Krill also said. The government plans to release that report on Thursday. Krill says he's looking to see whether the number will be revised higher, as it recently disappointed investors by being slightly below consensus.

Bell is watching European unemployment numbers which are due out on Friday. If they disappoint U.S. investors, they likely will create a buy-the-dip opportunity.

Krill added that General Electric (GE) and Eaton (ETN) recently told investors that they have seen a stabilization in their European operations.

With Europe appearing to have bottomed, Bell said she likes TRW Automotive Holdings (TRW) priced at less than $60.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Rocco Pendola's Weekly Options Newsletter. Focuses on short- to intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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