Even if the national headlines weren't already providing enough focus on the economy, plenty of economic data is due out as the month and the quarter wind down. U.S. economic data scheduled to be released this week include:
- Personal income (Aug. 2008): Monday 8:30 AM
- Consumer confidence index (Sept, 2008): Tuesday 10:00 AM
- Challenger job cut announcement (Sept, 2008): Wednesday 7:30 AM
- ISM manufacturing survey (Sept. 2008): Wednesday 10:00 AM
- Construction spending (Aug. 2008): Wednesday 10:00 AM
- New motor vehicle sales (Sept. 2008): Wednesday 4:00 PM
- Monster employment index (Sept. 2008): Thursday 6:00 AM
- Factory orders (Aug. 2008): Thursday 10:00 AM
- Employment situation (Sept. 2008): Friday 8:30 AM
- ISM nonmanufacturing survey (Sept. 2008): Friday 10:00 AM
Other economic events scheduled for this week include:
- Fed's Hoenig speaks on "The Economy and Monetary Policy": Monday 9:45 PM
- Fed's Lockhart speaks on the economic outlook: Tuesday 1:00 PM
- Ford Motor Co. September 2008 Sales Conference Call: Wednesday 1:00 PM
- AMETEK Inc. at Oppenheimer Industrials Conference: Thursday 8:00 AM
- DuPont at Citigroup Ethanol on the Cob Conference: Thursday 12:50 PM
- Fed's Evans speaks at Agricultural Markets and Food Price Inflation conference: Thursday 1:00 PM
- Fed's Bullard speaks at Indiana University Department of Economics: Thursday 7:00 PM
- Fed's Hoenig speaks on "The Economy and Monetary Policy": Thursday 9:45 PM
- National Association for Business Economics 50th Annual Meeting to address Future Economic Challenges: Friday 9:00 PM
The end of the quarter also means that earnings news is relatively quiet. Perhaps most prominent this week are the anticipated second quarter results of Circuit City Stores Inc. (NYSE: CC). The Richmond, Va.-based consumer electronics retailer last week finally ousted its CEO, Philip J. Schoonover, after a couple of years of disappointing results, and then shares fell to a new multi-year low. While Circuit City suggested that results would be better than previously forecast, analysts surveyed by Thomson Financial expect the company to have widened its loss to $1.04 per share (from $0.38 per share in the year-ago quarter) on revenue of $2.5 billion (-4.2%). Results have been better than expected in the past two quarters, but shares have fallen 66.3% in the past six months.
Among the biggest expected earnings gainers reporting this week are Minnesota-based fertilizer producer Mosaic Co. (NYSE: MOS) and U.K.-based tech company Xyratex Ltd. (NASDAQ: XRTX). Even though Mosaic, along with some rivals, is involved in a price fixing lawsuit, analysts expect it report a profit 78.2% higher than a year ago, or $2.93 per share on revenue of $4.1 billion (+104.2%). Xyratex, which hit a 52-week low last week, is expected to post $0.38 earnings per share (+34.2%) on revenue of $285.6 million (+21.8%). Both Mosaic and Xyratex have regularly provided positive surprises in recent quarters, and the consensus recommendations of analysts are to buy Mosaic and also to buy Xyratex. Year to date, Mosaic shares are down 19.4% while Xyratex's are down 28.5%.
Here are analysts' expectations for other companies scheduled to report earnings this week:
- Family Dollar Stores Inc. (NYSE: FDO): $0.34 per share (+23.5%) on revenue of $1.8 billion (+7.9%)
- Constellation Brands Inc. (NYSE: STZ): $0.44 per share (+20.5%) on revenue of $966.1 million (+8.2%)
- Walgreen Co. (NYSE: WAG): $0.45 per share (+11.1%) on revenue of $14.7 billion (+9.3%)
- Wolverine World Wide Inc. (NYSE: WWW): $0.60 per share (+10.0%) on revenue of $324.2 million (+4.5%)
- Actuant Corp. (NYSE: ATU): $0.54 per share (+9.3%) on revenue of $425.8 million (+9.3%)
- Global Payments Inc. (NYSE: GPN): $0.59 per share (+8.5%) on revenue of $396.0 million (+27.3%)
- Resources Global Professionals (NASDAQ: RECN): $0.25 per share (+8.0%) on revenue of $210.4 million (+8.4%)
- Pepsi Bottling Group Inc. (NYSE: PBG): $1.04 per share (+4.8%) on revenue of $3.9 billion (+3.4%)
- Marriott International Inc. (NYSE: MAR): $0.32 per share (+3.1%) on revenue of $3.0 billion (+0.1%)
- Immucor Inc. (NASDAQ: BLUD): $0.23 per share (-8.0%) on revenue of $71.1 million (+11.7%)
- Landec Corp. (NASDAQ: LNDC): $0.10 per share (-9.1%) on revenue of $66.8 million (+6.6%)
- AngioDynamics Inc. (NASDAQ: ANGO): $0.09 per share (-10.0%) on revenue of $45.6 million (+21.4%)
- Steelcase Inc. (NYSE: SCS): $0.22 per share (-12.0%) on revenue of $865.6 million (+4.9%)
- SMSC (NASDAQ: SMSC): $0.47 per share (-20.3%) on revenue of $98.3 million (+0.8%)
- Lawson Software Inc. (NASDAQ: LWSN): $0.05 per share (-28.6%) on revenue of $191.0 million (+1.9%)










