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Market highlights for next week: Home Depot (HD), Macy's (M) to report

Monday August 13
Tuesday August 14
  • The Home Depot Inc (NYSE: HD) to report Q2 earnings; conference call at 9am. Home Depot is expected to post substantial Q2 revenue/EPS declines, but equally important will be the company's comments: with the housing sector expected to remain sluggish through at least late 2007, analysts will evaluate whether HD can overcome that headwind with a new focus on customer service, demographic trends that suggest increased home repair/remodeling, and 20-year high homeownership rates that suggest steady house goods demand.
  • District Court California: Broadcom Corporation (NASDAQ: BRCM) to request an injunction related to Qualcom Incorporated's (Nasdaq: QCOM) infringement of 3 Broadcom cellular baseband patents.
Wednesday August 15
  • Macy's Inc (NYSE: M) to report Q2 earnings; conference call at 10:30am.
  • PDUFA date for GPC Biotech's (NASDAQ: GPCB) Satraplatin for treatment of hormone refractory prostate cancer.
Thursday August 16
  • JC Penney Co Inc (NYSE: JCP) to report Q2 earnings; conference call at 9:30am.
  • Hewlett Packard Company (NYSE: HPQ) to report Q3 earnings; conference call at 5pm. Analysts will evaluate HPQ's ability to maintain momentum in its innovative imaging/printing group, which is expected to help HPQ post solid Q3 revenue gains.
Friday August 17

Analyst initiations 12-7-06: Apple initiated with Above Average

MOST NOTEWORTHY: Video Game-makers and Apple (APPL) top today's list of initiations:

  • Oppenheimer initiated THQ Inc. (NASDAQ:THQI) and Activision Inc. (NASDAQ:ATVI) with Buy ratings and Electronics Arts Inc. (NASDAQ:ERTS) with a Neutral rating and $60 target.
  • Caris initiated Apple Computer Inc. (NASDAQ:AAPL) with an Above Average rating and $100 target; the firm considers Apple "a winner" in the consumer electronics space and sees two key catalysts for 2007: the iPhone and a wider-screen video iPod.

OTHER INITIATIONS:

  • American Tech initiated Endo Pharmaceuticals Holdings Inc. (NASDAQ:ENDP) with a Buy, and believes that Endo is positioned to benefit from both market share gains and overall market growth.
  • RBC capital Markets initiated Restoration Hardware Inc. (NASDAQ:RSTO) with an Outperform rating and $12 target, saying that Restoration has reinvented its core brand and has multiple revenue growth opportunities.
  • Jefferies believes Lamar Advertising Co. (NASDAQ:LAMR) digital transformation is driving higher revenues and expanding margins and initiated it with a Buy rating and $73 target.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 12, 2012: 06:14 AM

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