On Tap Today: Some Earnings Hors d'Oeuvres Ahead of the Season
In the wake of the postholiday session's slam of Computer Associates (CA) - Get CA, Inc. Report and other unlucky names, investors can look beyond the tech sector to three companies reporting earnings today.
From the services sector,
Safeway
(SWY)
and
Marriott
(MAR) - Get Marriott International, Inc. Class A Report
give second-quarter results.
Venturing tentatively into e-tail, Safeway in April invested $30 million in online supermarket
GroceryWorks.com
, a private firm that serves shoppers in Texas.
Courtyard by Marriott
last week opened its 500th hotel, becoming the first Marriott brand to reach the number. Courtyard will open 35 additional properties by year's end, and Marriott intends to grow by one thousand hotels, to 2,600 worldwide, in the five-year period ending in 2003.
Marriott and Safeway will broadcast their investor communication conference calls over the Internet today on the
Investor Broadcast Network
-- Marriott at 10 a.m. EDT, Safeway at 11 a.m. The events are available free through the network's
TheStreet Recommends
V-call Web site.
Elsewhere, medical device maker
Biomet
(BMET)
, a
Nasdaq 100
company, will release fourth-quarter results.
Expect economic snapshots of last week in today's
Mortgage Applications Survey
and
initial jobless claims
. The latter includes a four-week average that may reveal an underlying trend in claims and predict the tone of the influential
employment report
, due Friday.
Also,
factory orders
for May are due.
Expected Earnings Reports
(
This table includes S&P 500 companies only. Dates are as expected according to First Call/Thomson Financial and may change.
)
Economic Data
(
Forecasts are from
Reuters
. Times are Eastern. For a longer-term economic calendar and more, see
TSC's
Economic Databank.
)
- 7 a.m.:
Mortgage Applications Survey for the week ended Friday. Source:
Mortgage Bankers Association. Forecast: N/A. Previous: 319.2. Includes
Refinancing Index. Also includes
Purchase Index. Forecast: N/A. Previous: 305.8.
8:30 a.m.:
Initial jobless claims for the week ended Saturday. Source:
Labor Department. Forecast: N/A. Previous: 306,000. Includes
four-week average. Forecast: N/A. Previous: 305,250.
10 a.m.:
Factory orders for May. Source:
Census Bureau. Forecast: 3.4%. Previous: -4.3%.
