With no economic releases today, the market looks to recover from the aftershock of Cisco's earnings miss, which drove tech prices down last week.
That being said, the market will have a fresh batch of earnings to absorb today led by prescription drug pusher
. The company, which holds $1.61 billion in cash, is expected to post fourth-quarter earnings of 32 cents a share, and a year-end profit of $1.45 per share. Ahead of earnings, the company announced that current CEO Fred Hassan will also take on the position of chairman in light of former chairman Robert Shapiro's resignation.
Shares of Pharmacia traded up 1.9% to finish at an even $54 on Friday.
Also, for those looking for the 411 on IPOs, today marks the end of the lockup period for tech startups
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.
IPO Lockups Expiring
Michael Falbo, who writes 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.
Chase H & Q
Chase H & Q