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VeriFone Earnings, Labor Data: What to Watch on Wall Street June 4

6/03/15 8:00 PM EDT
On Thursday, June 4 we keep an eye on six companies that are scheduled to report their quarterly financial results as well as a couple of economic data to watch on Wall Street. The notable earnings for the day include jam company J.M. Smucker Co (SJM), arts and crafts specialty retailer Michaels Companies Inc (MIK), mining equipment maker Joy Global Inc (JOY), secure electronic payment solutions company VeriFone Systems Inc (PAY), multi-channel specialty retailer of action sports Zumiez Inc (ZUMZ) and fashion apparel company Vince Holding Corp (VNCE). VeriFone Systems, the maker of point-of-sale cash register systems, is scheduled to release its second-quarter earnings results after the market closes Thursday. Wall Street analysts are expecting VeriFone to post a profit of 42 cents per share on revenue of $489 million for the period. TheStreet’s Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio says he's watching this earnings report. The company announced its partnership with Visa (V) on Wednesday to create a more streamlined omni-channel commerce experience for its customers. On the economic calendar, we note the weekly jobless claims, productivity and costs, as well as the Fed balance sheet. Weekly jobless claims, are new unemployment claims that show the number of individuals who filed for unemployment insurance for the first time. Productivity measures the growth of labor efficiency, and unit labor costs reflect the labor costs of producing each unit of output. Both figures are indicators of future inflationary trends. The Fed's balance sheet is a report showing factors supplying reserves into the banking system as well as factors using reserve funds. TheStreet's Kurumi Fukushima reports in New York.
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