US EQUITIES WEEK AHEAD:Solar Cos' Quarterly Results;FOMC Meeting
August 05 2011 - 3:24PM
Dow Jones News
Quarterly earnings reports are due from a handful of solar
companies and while many of the major players are expected to
report revenue growth, the industry has seen solar cell and module
prices slide over the past few months.
Members of the monetary policy-setting Federal Open Market
Committee will meet Tuesday and offer statements that will broadly
address the economic outlook.
A handful of Republican presidential hopefuls are expected to
attend the first Iowa debate of the season on Thursday, as the
candidates aim to build momentum ahead of the Ames Straw Poll.
Solar Firms To Post Latest Quarterly Results
Results are due from a handful of solar companies next week and
while the major players are all expected to report strong top line
growth, the industry has seen solar cell and module prices slid
over the past few months following cuts to government-backed solar
subsidies in Italy, France and Germany, and as Chinese
manufacturers have continued expanding production. U.S.-based First
Solar Inc. (FSLR) on Thursday reported a 62% drop in its
second-quarter profit, due to lower selling prices and increased
spending on research and development. The results badly missed
analysts' expectations.
Some firms expected to report their latest results next week
include SunPower Corp. (SPWRA), JA Solar Holdings Co. (JASO), LDK
Solar Co. (LDK) and Yingli Green Energy Holding Co. (YGE).
Earnings Reports Due From Cisco, Walt Disney, MGM
Earnings season quiets down a bit next week, but results are
still expected from a handful of recognizable names, including
Internet company AOL Inc. (AOL), Las Vegas-focused casino operator
MGM Resorts International (MGM), media giant Walt Disney Co. (DIS)
and Internet-connectivity equipment maker Cisco Systems Inc.
(CSCO).
Analysts will closely watch results from Cisco, which in May
warned of weakness for the latest quarter and announced it would
cut jobs as the company aims to lower operating costs amid a
massive restructuring. Disney, which has benefited from a rebound
in the television advertising market, is expected to report modest
top and bottom line growth.
Members Of Monetary Policy-Setting FOMC To Meet
Members of the monetary policy-setting Federal Open Market
Committee will meet Tuesday and offer statements that will broadly
address the economic outlook, as well as the target range for the
federal funds rate. It will be the FOMC's first meeting on record
since global markets have soured in recent weeks amid concerns
about euro-zone debt woes and the debt-ceiling debate in the
U.S.
Presidential Hopefuls To Debate Ahead Of Iowa's Straw Poll
A handful of Republican presidential hopefuls are expected to
attend the first Iowa debate of the season on Thursday, as the
contenders aim to build more momentum for their campaigns ahead of
the Ames Straw Poll on Aug. 13. Former Massachusetts Gov. Mitt
Romney, Rep. Michele Bachmann (R., Minn.) and former Minnesota Gov.
Tim Pawlenty are among the candidates eligible to participate.
Market Turmoil Could Depress Next Week's IPO Calendar
With the markets taking a beating in recent days, the near term
outlook for initial public offerings isn't great, as IPOs are
considered a higher-risk bet than established stocks and investors
aren't inclined to take more chances during times of broader market
turmoil.
There are nine IPOs on the calendar for next week and if all of
them were to price, it would be the highest level of new stocks
seen this year. But if current conditions persist, it isn't likely
all will make it to the market.
Lehman Brothers To Update NY Bankruptcy Court
The trustee winding down Lehman Brothers Holdings Inc.'s (LEHMQ)
U.S. brokerage on Tuesday will update the New York bankruptcy court
on the status of the process. Meanwhile, liquidating bookstore
chain Borders Group Inc. (BGPIQ) on Wednesday will ask the New York
bankruptcy court to sign off on its bid to auction its brand name
and website. The company, which began liquidating last month after
failing to find a buyer to keep its stores open, wants to auction
off its intellectual property on Sept. 14.
South Korea's BOK, Finance Regulators To Meet Sunday
South Korea's finance ministers intend to step up the Asian
nation's monitoring of financial markets amid heightened volatility
stemming from concerns about the economies of the U.S. and Europe.
Officials from the Bank of Korea, the Ministry of Strategy and
Finance and others are scheduled to meet Sunday to discuss market
conditions and necessary policy responses.
Conferences
Among the significant conferences next week are the Pacific
Crest Securities Technology Leadership Forum Sunday through Tuesday
in Vail, Colo., Morgan Keegan Technology Conference on Monday and
Tuesday in New York City, Canaccord Genuity Global Growth
Conference Tuesday through Thursday in Boston, Jefferies & Co.
Global Industrial and A&D Conference Tuesday through Thursday
in New York City, Oppenheimer & Co. Technology &
Communications Conference Tuesday and Wednesday in Boston, and the
Raymond James Bank Conference on Wednesday in Chicago.
-By John Kell, Dow Jones Newswires; 212-416-2480;
john.kell@dowjones.com
--Marie Beaudette, along with Lynn Cowan and other Dow Jones
Newswires staff, contributed to this article.
Lehman (NYSE:LEH)
Historical Stock Chart
From Jun 2024 to Jul 2024
Lehman (NYSE:LEH)
Historical Stock Chart
From Jul 2023 to Jul 2024