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On Tap Today: Housing Starts, Earnings Reports by Goldman Sachs, Lehman

Today the market will get earnings releases from companies including Jabil Circuit (JBL), Best Buy (BBY), American Greetings (AM), Goldman Sachs (GS) and Lehman Brothers (LEH).

Jabil Circuit, a provider of electronic manufacturing services, is slated to report after the close. Twenty-nine analysts polled by Thomson Financial/First Call expect the company to earn 16 cents a share. Jabil earned 21 cents in the year-ago period.

Specialty retailer Best Buy is also on the earnings calendar for Tuesday. Wall Street is expecting the company to earn 23 cents a share in the fiscal first quarter. The company earned 34 cents in the year-ago period.

Analysts expect investment banking concern Lehman Brothers to earn $1.14 a share in the second quarter, down from $1.39 during the same period last year. Goldman is expected to earn $1.06 a share for the second quarter, down from $1.48 a year ago. Analysts are expecting American Greetings to post first-quarter earnings of 25 cents, which is well short of the 60 cents the company made in the same period a year ago.

Economic Data

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

  • 8:30 a.m.: Housing Starts housingstarts for May. Source: Census Bureau. Forecast: 1.593M. Previous: 1.609M. Building Permits - Forecast: n.a. Previous: 1.587M.

  • 9 a.m.: BTM-UBSW Weekly Chain Store Sales Index chainstoresales for the week ended June 18. Source: Bank of Tokyo-Mitsubishi and UBS Warburg. Forecast: n.a. Previous: +0.3%.

  • 9 a.m.: Redbook Retail Average redbookretailaverage for the month through June 18, vs. May. Source: LJR Redbook. Forecast: n.a. Previous: +0.4%.

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