Yesterday's big newsmaker, Nortel Networks (NT) , is back in the headlines once again. Today, the world's No. 2 networking equipment supplier will hook investors up with its second-quarter earnings report.
The Wall Street Journal
reported that Nortel is in talks to sell its optical-parts unit to
, in a deal that could be valued at over $100 billion. Additionally yesterday, Nortel said it plans to spend $1.9 billion to more than double its fiber-optic manufacturing capacity over the next 18 months to meet customer demand.
Also in the earnings hot seat today is
. Things don't look so cushy for the software company: Just a few weeks ago, BMC warned investors that its first-quarter profit would fall well behind analyst expectations because of weakness in its mainframe business.
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 Weekly U.S. Retail Chain Store Index for the week ended Saturday. Source:
Bank of Tokyo-Mitsubishi. Forecast: N/A. Previous: -0.6%.
Consumer Confidence Index for July. Source:
Conference Board . Forecast: 139.3. Previous: 138.8.
Existing Home Sales for June. Source:
National Association of Realtors. Forecast: 5.02 million. Previous: 5.09 million.
Redbook Retail Average for the month through Saturday, vs. June. Source: LJR Redbook. Forecast: N/A. Previous: +1.2%.
IPO Lockups Expiring
Ben Holmes, who heads
ipoPros.com subsidiary, keeps a close eye on lockup expirations every week. For more on lockups and why they matter, check out Holmes' primer on the subject. The full current lockup list is published separately.
Speeches and Testimony
- Federal Reserve Chairman Alan Greenspan repeats last week's testimony before the Senate Banking Committee on the economy and monetary policy, an appearance formerly known as Humphrey-Hawkins, for the House Banking Committee.