Earnings season begins to unravel as mobile-phone maker
issues its first-quarter results today.
Wall Street anticipates that Motorola's announcement will set the tone for the entire tech sector since its products and services are distributed across a wide range of industries. According to the 24 analysts polled by research firm
Thomson Financial/First Call
, the Illinois-based company is expected to post a loss of 7 cents a share, as compared to a profit of 20 cents a share a year ago.
Ahead of earnings,
Morgan Stanley Dean Witter
raised its rating on Motorola to a strong buy citing the company's strong valuation. Shares of Motorola were trading at $11.50 at yesterday's close, as compared to $49.48 just a year ago.
In economic news, the
BTM-UBSW Weekly Chain Store Sales Index and the
Redbook Retail Average are due out before the opening bell. These two weekly indicators have the potential to move markets and should give us the skinny on the latest consumer moods.
Also, be sure to check out the stocks listed below whose lockup periods have expired.
Expected Earnings Reports
This table includes S&P 500 companies only. Dates are as expected according to First Call/Thomson Financial, and may change. The full week's earnings calendar is published separately.
Forecasts are from
. Times are Eastern. For a longer-term economic calendar and more, see
- 9 a.m.:
BTM-UBSW Weekly Chain Store Sales Index for the week ended April 7. Source:
Bank of Tokyo-Mitsubishi and UBS Warburg Forecast: n.a.. Previous: -1.7%.
Redbook Retail Average for the week through April 7 vs. March. Source:
LJR Redbook. Forecast: n.a.. Previous: -0.4%.
IPO Lockups Expiring
Michael Falbo, who writes a column for
ipoPros.com subsidiary, keeps a close eye on lockup expirations every week. For more on lockup expirations and why they matter, check out Ben Holmes' primer on the subject. The full current lockup expiration list is published separately. For information on IPO pricings, filings and aftermarket activity, plus a calendar of upcoming IPOs, check out
IPO data section.