The Coming Week: Looking for Warning Signs

The key word for the week is: warnings.

With a dearth of economic and earnings releases this week, the direction stocks take depends on corporate America. Should the pride of Wall Street dash hopes for a recovery in the second half of this year, as Sun Microsystems (SUNW Quote) did last week, the market could be humbled, again.

All eyes will be on Intel (INTC Quote), as the semiconductor manufacturer gives its first scheduled midquarter update on Thursday. Over the past three quarters, the bellwether chipmaker has warned during similarly timed progress reports that its revenue would fall short of previous expectations. For the second quarter, analysts expect revenue of $6.5 billion, according to Thomson Financial/First Call. And they estimate earnings of 55 cents per share. ...