Earnings for Large Cap Firms this week
Earnings Season begins this week, with major firms, including the India-based global IT firm Infosys Technologies LTD(INFY)(Market Cap $20.3 billion), releasing its quarterly earnings on Friday (Thursday evening in U.S.); aluminum producer and manufacturer Alcoa Inc (AA)($9.07 billion market cap) on Wednesday, and Pepsi Bottling Group Inc (PBG) (Market Cap $7.27 billion), which makes, sells and distributes Pepsi-Cola beverages also on Wednesday.
Consumer Credit report for May
The consumer credit report for the month of May will be released tomorrow, July 8 at 03:00 p.m. EST.
Officials from U.S. agencies testify before Senate on clean energy
U.S. Energy Secretary Steven Chu, Interior Secretary Ken Salazar, Agriculture Secretary Tom Vilsack and Environmental Protection Agency Administrator Lisa Jackson will testify before the Senate Environment and Public Works Committee focusing on the importance of creating a system of clean energy incentives.
U.S. Energy Prices forecast
The Energy Information Administration releases its monthly energy prices forecast.
June retail sales out July 9
Many retailers are set to release their results for June on July 9, although there will be some notable holdouts, including some of the top 10 retailers. The Top 10 U.S. retailers by annual sales are Wal-Mart, Kroger, Costco, The Home Depot, Target, Walgreen, CVS Caremark, Lowe's, Sears Holdings Corp., and Best Buy, according to the National Retail Federation.
EU finance ministers meet
European Union finance ministers will meet today as they attend the Economic and Financial Affairs Council in Brussels. The Swedish's presidency program will be presented by the country's finance minister; Anders Borg. The agenda will also include preparations for this autumn's G20 summit, and issues related to the global economic crisis.
New Energy Symposium in New York
The New Energy Symposium will be held in New York City through July 8-9 putting together members from the clean energy industry, government officials and scientists to discuss how to develop sustainability and clean energy technologies in the state.
Second International Conference Automotive Biofuels
The 2nd International Conference Automotive Biofuels will be held in Berlin-Postdam, Germany from July 7-8 to discuss the breakthrough of biofuels from the second generation, and talk about optimized engine performance and how to meet climate requirements with natural gas and bio-gas.
Earnings for Mid-Cap, Small-Cap firms
- Family Dollar Stores Inc (FDO) ($3.93 billion market cap), which operates 6,500 retail discount stores, releases earnings on Wednesday.
- 3Com Corp. (COMS) ($1.80 billion market cap), provider of computer networking services, reports earnings on Thursday ahead of the market open. Consensus analyst estimates are for EPS of $0.05, down from $0.09 in the year-ago period. Revenues are also expected to fall to $295 million, down 8% from the $321 million 3Com reported in fiscal Q4 2008.
- International Speedway Corp. (ISCA) ($1.27 bln market cap), which promotes motorsports in the U.S. is releasing its earnings today.
- A Schulman Inc, (SHLM) ($434 million market cap) provider of plastic compounds and resins, releases its earnings after the market closes today.
- RubyTuesday Inc, (RT) ($369.6 billion) which operates and franchises bar and grill casual dining restaurants, reports earnings today.
Del Monte Foods Analyst and Investor Day
Del Monte's executives are in New York to make a 3 hour presentation starting at 9 a.m. today. The presentation is available on a live webcast, which is expected to be archived for viewing later. Presentation materials and web cast link are available at the company's investor relations web site.