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On Tap Today: The Purchasing Managers' Non-Manufacturing Index

The lone economic release for today is the Purchasing Managers' Non-Manufacturing Index purchasingmanagersnonmanufacturingindex, which has very little impact on the market due to its short lifespan. (The earliest data go back only to July 1997.)

On the earnings front, Comverse Technology (CMVT), a maker of telecommunications software, is scheduled to release its quarterly profit results today. According to research firm Thomson Financial/First Call the Woodbury, New York-based company is expected to post first-quarter earnings of 42 cents a share, up from 33 cents a share in the year-ago quarter. Ahead of earnings, the company said it was slashing 6% of its workforce due to the current economic climate. As a result, it said it would take a restructuring charge of about $9 million.

Shares closed up $2, or 3.5%, to $59.59 on Friday.

Economic Data

(Forecasts are from Reuters. Times are Eastern. For a longer-term economic calendar and more, see TSC's Economic Databank.)

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