NEW YORK (
) -- A handful of companies are slated to report earnings Tuesday, including
, although the market will also take its cue from important economic data.
Kraft, a component of the
Dow Jones Industrial Average
, will report quarterly results after the closing bell. Analysts, on average, expect the food giant to post earnings of 54 cents a share on sales of $10.37 billion, according to Thomson Reuters.
In May, Kraft reaffirmed its guidance for 2009, saying it expects organic net revenue growth of approximately 3% and earnings of $1.88 a share. Analysts will look for any changes to guidance when Kraft reports late Tuesday.
CVS Caremark, on the other hand, will post earnings before the start of trading, with Wall Street forecasting a profit of 64 cents a share on revenue of $24.41 billion. Expectations are running high for CVS, after rivals
exceeded estimates for the recent quarter.
Archer Daniels Midland
will also report before the start of trading.
Whole Foods Market
will join Kraft in reporting after the closing bell.
Tuesday's economic schedule is also busy, with the Commerce Department set to post personal income and spending data for June at 8:30 a.m. EDT. Economists polled by Thomson Reuters expect a 1% decline in income after a 1.4% increase in May. Spending should increase 0.3% after a 0.1% tick higher in May, according to estimates.
Shortly after Tuesday's opening bell, the National Association of Realtors will post June's pending-home-sales data, which are expected to show a 0.3% increase after a 0.1% rise in May.
Housing data released over the last few weeks have been stronger that most economists have expected. Last week, new-home-sales data for June showed a better-than-expected rise to 384 million units. In the week prior, the National Association of Realtors said existing-home sales rose 2.5% to 4.89 million units, above the census estimate of 4.84 million.
-- Written by Robert Holmes in New York