SAN FRANCISCO (Thomson Financial) - TF North America Daybook - Friday, March
14, 2008
MAJOR U.S. EQUITY INDEXES:
Wall Street is looking at a mixed open Friday as investors remain jittery
about the health of the economy and the credit markets, with the latest consumer
price data likely to supply an early focus amid rising concern inflation may be
ticking up.
A speech by Federal Reserve Chairman Ben Bernanke also will garner attention.
According to spread bettors IG Index, the Dow Jones industrial average is
expected to open down 37 points at 12,109. S&P 500 futures fell 1.50 points to
1,311.80, while Nasdaq 100 futures climbed 13.75 points to 1,748.50.
Wall Street rebounded Thursday from an early plunge to finish moderately
higher after Standard & Poor's predicted financial companies are nearing the end
of the massive asset write-downs that have devastated the stock and credit
markets.
The industrial average finished up 35.50 points, or 0.29%, at 12,145.74,
while the Nasdaq composite added 19.74, or 0.88%, to 2,263.61. The S&P 500
climbed 6.71, or 0.51%, to 1,315.48.
The yield on the benchmark 10-year Treasury note rose to 3.54% from 3.44%
late Wednesday and light, sweet crude rose 41 cents to settle at a record
$110.33 on the New York Mercantile Exchange.
ECONOMIC DATA:
- Consumer price index for February, 8:30 a.m. ET, 0.3% estimate
- Reuters/University of Michigan preliminary index for March, 10 a.m. ET, 69.5
estimate
EARNINGS HIGHLIGHTS:
Company Symbol Period Estimate Time
AnnTaylor Stores ANN 4Q $ .20 BMO
Figures in parentheses denote losses.
AFTER-HOURS ACTION:
After the closing bell Thursday, Liz Claiborne Inc. said it swung to a
fourth-quarter loss on a hefty charge, and the company backed its 2008 forecast.
Pacific Sunwear of California said profit dropped 42% in the fourth quarter, but
the company projected 2008 income from continuing operations above analyst
estimates, while Aeropostale Inc. said its fiscal fourth-quarter net income rose
13% to beat analyst expectations.
COMPREHENSIVE EARNINGS LIST:
KPPC (AMC-ET), ANN (BMO-ET), FRM (BMO-ET), GEL (BMO-ET), GTRE (BMO-ET), HH
(BMO-ET), LIZ (BMO-ET), NEXC (BMO-ET), NVAX (BMO-ET), PESI (BMO-ET), SKIL
(BMO-ET), SMBL (BMO-ET), STRL (BMO-ET), SUP (BMO-ET), E NTS), TRMD (NTS), CGLD
(NTS), ENLV (NTS), ERJ (NTS), GTSI (NTS), IMAX (NTS), MRB (NTS), MTEX (NTS),
PSX.TO (NTS), PVC.TO (NTS), REIS (NTS), TECUA (NTS)
BMO - Before market opens
AMC - After market closes
NTS - No time supplied
Gabriel Madway
jw/gm/jw
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