NEW YORK (Thomson Financial) - TF North America Daybook - Thursday, Nov. 29,
2007
MAJOR U.S. EQUITY INDEXES:
Wall Street is set to take a breather Thursday after a strong run-up over
the last two days fueled by rate-cut hopes and improving sentiment on the
battered financial sector. Sears Holdings Corp. is likely to be a notable
decliner after the department-store company posted a plunge in quarterly
profits.
According to spread bettors IG Index, the Dow Jones Industrial Average is
expected to open down 36 points at 13,253. Separately, S&P 500 futures fell 4.70
points to 1,465.90, while Nasdaq 100 futures were off 0.50 of a point at 2,095.
On Wednesday, Wall Street barreled higher for the second day in a row, after
a Federal Reserve official hinted the central bank may lower interest rates
again.
The Dow Jones Industrial Average soared 331.01 points, or 2.55%, to close at
13,289.45, while the Nasdaq composite index shot up 82.11, or 3.18%, to
2,662.91, and the S&P 500 index climbed 40.79, or 2.86%, to 1,469.02. The yield
on the benchmark 10-year Treasury note rose to 4.05% from 3.95% late Tuesday,
and light, sweet crude oil fell $3.80 to settle at $90.62 a barrel on the New
York Mercantile Exchange.
ECONOMIC DATA:
- Third-quarter gross domestic product, 8:30 a.m. ET, 4.7% estimate
- Initial jobless claims, 8:30 a.m. ET, 330,000 estimate
- New homes sales for October, 10 a.m. ET, 760,000 annual rate estimate
EARNINGS HIGHLIGHTS:
Company Symbol Quarter Estimate Time
Brocade Communications BRCD 4Q $ .13 AMC
Brown Forman BFB 2Q 1.00 BMO
Del Monte Foods DLM 2Q .17 NTS
Dell Inc. DELL 3Q .35 AMC
H.J. Heinz HNZ 2Q .67 BMO
Smithfield Foods SFD 2Q .21 BMO
Warner Music WMG 4Q .02 BMO
AFTER-HOURS ACTION:
After Wednesday's closing bell, TiVo Inc. reported a third-quarter loss of
$8.2 million, or 8 cents a share, narrower than a year-earlier loss of $11.1
million, or 12 cents a share. Aeropostale Inc. said third-quarter earnings
jumped 11%, and the apparel retailer forecast fourth-quarter earnings of 82
cents to 84 cents a share. Men's Wearhouse Inc. reported third-quarter net
earnings of $37.1 million, or 69 cents a share, up 17% from last year.
COMPREHENSIVE EARNINGS LIST (SYMBOL, TIME):
AVZA (AMC-ET), AXCA (AMC-ET), CATS (AMC-ET), MENT (AMC-ET), OVTI (AMC-ET), PRLS
(AMC-ET), SEAC (AMC-ET), DSGX (BMO-ET), FRED (BMO-ET), GCO (BMO-ET), GRB
(BMO-ET), IDEV (BMO-ET), LULU (BMO-ET), RSC (BMO-ET), SBH (BMO-ET), SMRT
(BMO-ET), STST (BMO-ET), WGNR (BMO-ET), WTSLA (BMO-ET), VIP (NTS), OTE (NTS),
ACIW (NTS), AMWD (NTS), ATW (NTS), BONT (NTS), CONN (NTS), CTR (NTS), DLIA
(NTS), GOT (NTS), JCG (NTS), PROJ (NTS), TD (NTS), ZUMZ (NTS)
BMO - before market opens
AMC - after market closes
NTS - no time supplied
Joseph Woelfel
jw/gm/jw
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