As the market absorbs the Fed's latest cut in interest rates, a fresh batch of earnings hits the Street today. Among those reporting are breakfast staple Quaker Oats (OAT) , consumer product maker Colgate-Palmolive (CL) - Get Colgate-Palmolive Company Report, mobile phone maker Sprint PCS (PCS) and sneaker giant Reebok (RBK) .

Ahead of earnings, Sprint PCS announced yesterday that it will enter into a deal with

Travelocity

(TVLY)

and

Sabre Holdings

(TSG) - Get Stars Group Inc. Report

, which will provide various travel tools to customers owning Internet-ready mobile telephones.

Shares of Sprint PCS traded down 4.98% to $30.50 at yesterday's close.

On the economic front, the

Purchasing Managers Index takes center stage. This indicator remains the most significant manufacturing measure and should have a deep impact on today's trading session.

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.

*Possibly reporting

Economic Data

(

TheStreet Recommends

Forecasts are from

Reuters

. Times are Eastern. For a longer-term economic calendar and more, see

TSC's

Economic Databank.

)

  • 8:30 a.m.: Initial Jobless Claims for the week ended Jan. 27. Source: Labor Department. Forecast: 331,000. Previous: 316,000. Four-week average: Forecast: n.a. Previous: 336,000.
  • 8:30 a.m.: Personal Income for December. Source: Commerce Department. Forecast: +0.2%. Previous: +0.4%. Consumption: Forecast: +0.2% Previous: +0.3%.
  • 10 a.m.: Construction Spending for November. Source: Census Bureau. Forecast: -0.4%. Previous: -0.6%.
  • 10 a.m.: Purchasing Managers Index for January. Source: National Association of Purchasing Management . Forecast: 43.6. Previous: 43.7.
  • 2 p.m.: FOMC meeting minutes. Federal Reserve. The Fed releases the minutes of its monetary policymaking committee's Dec. 19 meeting.

IPO Lockups Expiring

(TheStreet.com's

Michael Falbo, who writes for

TSC's

ipoPros.com subsidiary, keeps a close eye on lockup expirations every week. For more on lockup expirations and why they matter, check out 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

TheStreet.com's

IPO data section.

)

Lockup End

Deal Name

Symbol

Lead Underwriter

2/1/01

Lantronix

(LTRX:Nasdaq)

Donaldson Luftkin & Jenrette