The Week in Preview: Beige Book, Federal Budget, Retail Sales

Posted Jun 6th 2010 12:30PM by Trey Thoelcke
Filed under: Earnings Reports, Forecasts, Economic Data, Federal Reserve

earnings expectations The Federal Reserve's next Beige Book report is scheduled to be released this week. This report is a compilation of anecdotal information on current economic conditions from each of the 12 Federal Reserve Bank districts, and it is released eight times a year. The data comes from interviews with business contacts, economists, market experts, and other sources. The June report is expected to show strengthening signs of expansion, though results could be mixed across the 12 districts.

Economic data due out this week include:

Monday: Consumer credit data for April
Tuesday: Labor turnover in April
Wednesday: Wholesale trade inventories in April
Thursday: Trade balance for April and federal budget for May, as well as initial jobless claims for last week
Friday: Retail sales for May and and business inventories for April

Things will be quite on the earnings front as well. Analysts surveyed by Thompson Reuters expect this week's earnings gainers to include:

Altera Corp. (ALTR): $0.53 per share (+69.2%)
CPI Corp. (CPY): $0.57 per share (+40.4%)
Dollar General Corp. (DG): $0.34 per share (+23.5%)
Oxford Industries Inc. (OXM): $0.60 per share (+18.3%)
Pall Corp. (PLL): $0.50 per share (+16.0%)
Vail Resorts Inc. (MTN): $1.83 per share (+8.2%)

Companies expected to have swung to a profit from year-ago losses include Cascade Corp. (CASC), National Semiconductor Corp. (NSM), Take-Two Interactive Software Inc. (TTWO) and Talbots Inc. (TLB).

This week's anticipated earnings decliners include: