The lone economic release for today is the

Purchasing Managers' Non-Manufacturing Index, which has very little impact on the market due to its short lifespan. (The earliest data go back only to July 1997.)

On the earnings front,

Comverse Technology

(CMVT)

, a maker of telecommunications software, is scheduled to release its quarterly profit results today. According to research firm

Thomson Financial/First Call

the Woodbury, New York-based company is expected to post first-quarter earnings of 42 cents a share, up from 33 cents a share in the year-ago quarter. Ahead of earnings, the company said it was slashing 6% of its workforce due to the current economic climate. As a result, it said it would take a restructuring charge of about $9 million.

Shares closed up $2, or 3.5%, to $59.59 on Friday.

Economic Data

(Forecasts are from

Reuters

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

TSC's

Economic Databank.)

  • 10 a.m.: Purchasing Managers' Non-Manufacturing Index for May. Source: National Association of Purchasing Managers. Forecast: n.a. Previous: 47.1.