What's the rumpus?
Well, in true earnings season fashion, a number of top guns are set to report quarterly profit results today. Among the heavily armed are telecom companies
According to an 18-analyst consensus,
is expected to post first-quarter earnings of 25 cents a share, down from 44 cents a share in the year-ago period. Shares traded up 84 cents to finish at $19.39 Wednesday.
Corning, on the other hand, traded down Wednesday after
high hat. Shares of Corning traded down 72 cents to $21.98 Wednesday.
In economic news, the first-quarter
Employment Cost Index is due out before the bell. Among economists, the data are considered to be the single most important measure of inflation. It should have a significant impact on today's market.
initial jobless claims, a timely gauge of labor market conditions, is also slated for release.
And be sure to check out the
complete list of today's earnings announcements.
Forecasts are from
. Times are Eastern. For a longer-term economic calendar and more, see
- 8:30 a.m.:
Employment Cost Index for Q1 '01. Source:
Labor Department. Forecast: +1.1%. Previous: +0.8%.
Initial Jobless Claims for the week ended April 21. Source:
Labor Department. Forecast: 387,000. Previous: 385,000.
Four-week average: Forecast: n.a. Previous: 382,250.
Help-wanted Index for March. Source:
Conference Board. Forecast: n.a. Previous: 71.
Treasury buyback. Source:
Bureau of the Public Debt. The Treasury buys securities specified Wednesday from dealers.