Wal-Mart Stores Inc. (WMT) is among several retailers expected
to report their latest quarterly results next week, which is
shortened by the Presidents Day holiday.
Technology heavyweights Dell Inc. (DELL) and Hewlett-Packard Co.
(HPQ) also are scheduled to report earnings next week.
Markets will examine reports on January's existing home sales
and new home sales, due Wednesday and Friday, respectively, for
more insight into the sector's sluggish recovery.
Bazaarvoice Inc. and Proto Labs Inc. are expected to debut next
week.
Quarterly Earnings Due From Retailers
A deluge of major retailers, including Wal-Mart, Saks Inc.
(SKS), Macy's Inc. (M), Gap Inc. (GPS), Kohl's Corp. (KSS) and J.C.
Penney Co. (JCP), are scheduled to release their latest earnings
results.
U.S. retailers delivered generally solid January sales results
amid an appetite for marked-down merchandise and some confidence
among consumers to spend a little extra. Earlier this month, Gap
projected fourth-quarter earnings ahead of estimates as Banana
Republic outperformed the other segments and January same-store
sales declined less than expected, while Kohl's raised its view as
it saw better-than-expected same-store sales last month. Meanwhile,
J.C. Penney has slashed its fiscal fourth-quarter guidance as sales
and traffic were softer than anticipated for the latest period.
Wal-Mart, Saks and Macy's are also expected to report
bottom-line growth.
Dell, Hewlett-Packard Expected To Post Weaker 4Q Profits
Computer maker Dell is expected to see its fourth-quarter
earnings drop slightly from a year earlier, according to analysts
polled by Thomson Reuters. The company has been broadening its
business scope in recent years to become more of a one-stop shop
for customers also seeking servers, storage, networking and
services. However, Dell has frequently reiterated it remains
committed to the personal computer market, a contrast to its
biggest rival Hewlett-Packard.
Last year, H-P flirted with the idea of shedding its PC
business, the world's largest, before deciding in October to hold
onto it, though the segment offers lower margins. The company saw a
turbulent year in 2011, which included an $11.7 billion deal for
British software provider Autonomy Corp. and the September firing
of Chief Executive Meg Whitman's predecessor, Leo Apotheker. In
November, H-P issued a first-quarter outlook that fell short of
analyst estimates. Analysts expect the company's revenue to decline
from the year-ago period.
Other major companies reporting next week include Kraft Foods
Inc. (KFT), Home Depot Inc. (HD) and Barnes & Noble Inc.
(BKS).
NYSE, Nasdaq Markets Closed Monday
U.S. equity trading on NYSE Euronext's (NYX) New York Stock
Exchange and Nasdaq OMX Group Inc. (NDAQ) will be closed Monday in
observance of Presidents Day.
Trading floors operated by CME Group Inc. (CME), which includes
the Nymex and Chicago floors, also will be closed Monday. CME
Globex will halt equity trading at 10:30 a.m. CST and is scheduled
to resume trading at 5 p.m. CST. CME Globex halts trading for
interest rate and foreign exchange products at noon CST and resumes
at 5 p.m. CST.
January Existing, New Home Sales Due
Reports on home sales and prices will offer more information on
the state of the ailing housing sector next week.
On Wednesday, the National Association of Realtors will report
on existing home sales for January. Economists surveyed by Dow
Jones Newswires think resales of 4.65 million homes were sold last
month, up slightly from the annual rate of 4.61 million in
December.
Data on new U.S. home sales are scheduled to be released Friday.
The Commerce Department's report is expected to show new home sales
increased 2.6% to an annual rate of 315,000 in January.
Consumers have been reluctant to buy homes. The obstacles
include worries about income prospects, inability to get financing
and the lack of a sufficient down payment.
Bazaarvoice, Proto Labs Expected To Price Next Week
Yet another initial public offering tied to the social media
space is readying to go public this coming week, but it isn't a
name that is going to spark the kind of brand recognition of Yelp
Inc. or Facebook Inc.
Bazaarvoice Inc., which bills itself as a maker of "social
commerce" marketing software, aims to raise as much as $95 million
on the Nasdaq under the symbol "BV." The company's product helps
businesses collect and display consumer reviews on their websites,
provides tools to analyze feedback and online postings, and helps
distribute content such as ratings and reviews among retail and
other brand sites.
The only other deal set to price this coming week is Proto Labs
Inc., which is looking to raise as much as $65 million through a
listing on the NYSE as "PRLB." The company manufactures custom
parts for product prototypes or pilot runs of products in
development. It uses proprietary software and automated
manufacturing technology to cut down on expenses and turn around
orders in as little as a day.
U.S. To Sell $99 Billion Treasury Notes Next Week
As expected, the U.S. Treasury plans to sell $35 billion of
two-year notes on Tuesday, $35 billion of five-year notes Wednesday
and $29 billion of seven-year notes on Thursday. Analysts expect
the shorter-dated sales to go smoothly because of the Federal
Reserve's stated intentions to keep rates low through at least late
2014.
Conferences
Among the scheduled conferences next week are the Consumer
Analyst Group of New York Conference on Monday through Friday in
Boca Raton, Fla.; EnerCom Inc.'s The Oil & Services Conference
Tuesday through Thursday in San Francisco; the Barclays Industrial
Select Conference on Wednesday and Thursday in Miami; and the
Credit Suisse Global Paper & Packaging Conference on Wednesday
and Thursday in New York.
Also scheduled are the Green Power Offshore Wind Power USA
conference Wednesday through Friday in Boston; the National
Investment Banking Association Investment Conference Wednesday
through Friday in New Orleans; and the Jefferies Global Clean
Technology Conference on Wednesday and Thursday in New York.
-By Nathalie Tadena, Dow Jones Newswires; 212-416-3287;
nathalie.tadena@dowjones.com
--Kathleen Madigan, Lynn Cowan, Cynthia Lin and other Dow Jones
Newswires staff members contributed to this article.
Capital One Financial (NYSE:COF)
Historical Stock Chart
From May 2024 to Jun 2024
Capital One Financial (NYSE:COF)
Historical Stock Chart
From Jun 2023 to Jun 2024
