SAN FRANCISCO (Thomson Financial) - Thomson Financial North America Daybook
- Thursday, May 22, 2008
MAJOR U.S. EQUITY INDEXES:
Wall Street is on track to open higher Thursday as some investors look to
pick up bargains after sharp prior-session losses, but a fresh record for oil
prices will continue to stoke fears about the impact of rising energy costs on
an already slowing economy.
According to spread bettors IG Index, the Dow Jones industrial average is
expected to open up 43 points at 12,644. S&P 500 futures were up 1,70 to
1394.60, while Nasdaq 100 futures climbed 2.50 points to 1,967.00.
Wall Street fell Wednesday for the second straight session on record-high
oil prices and a bleak economic assessment from the Federal Reserve. The Dow
Jones industrial average fell 227.49, or 1.77%, to close at 12,601.19, the
Nasdaq composite index sank 43.99, or 1.77%, to 2,448.27, and the Standard &
Poor's 500 index dropped 22.69, or 1.61%, to 1,390.71. The yield on the 10-year
Treasury note rose to 3.81% from 3.78% late Tuesday, and crude oil surged $4.19
to settle at $133.17 a barrel on the New York Mercantile Exchange.
ECONOMIC DATA:
- Initial jobless claims, 8:30 a.m. ET, 370,000 estimate
EARNINGS HIGHLIGHTS:
Company Symbol Period Estimate Time
Aeropostale Inc. ARO 1Q $ .25 NTS
AnnTaylor Stores ANN 1Q .46 BMO
Barnes & Noble BKS 1Q .05 BMO
CA Inc. CA 4Q .28 AMC
Children's Place PLCE 1Q .50 NTS
GameStop Corp. GME 1Q .35 BMO
Gap Inc. GPS 1Q .30 AMC
Hormel Foods HRL 2Q .55 BMO
New York & Co. NWY 1Q .10 BMO
Patterson Cos. PDCO 4Q .51 BMO
Figures in parentheses denote losses.
COMPREHENSIVE EARNINGS LIST:
ARUN (AMC-ET), BAMM (AMC-ET), BBOX (AMC-ET), CA (AMC-ET), GPS (AMC-ET), HIBB
(AMC-ET), HRAY (AMC-ET), IXYS (AMC-ET), MENT (AMC-ET), UVV (AMC-ET), VRGY
(AMC-ET), ZUMZ (AMC-ET), ANN (BMO-ET), BKS (BMO-ET), CMCO (BMO-ET), CMRG
(BMO-ET), DKS (BMO-ET), GME (BMO-ET), GSOL (BMO-ET), HRL (BMO-ET), MPR (BMO-ET),
NWY (BMO-ET), OPXT (BMO-ET), PDCO (BMO-ET), SAFM (BMO-ET), SMRT (BMO-ET), SSI
(BMO-ET), STP (BMO-ET), TECD (BMO-ET), TTC (BMO-ET), TWMC (BMO-ET), CEDU (NTS),
FRO (NTS), SFL (NTS), ALKS (NTS), ARO (NTS), BCSI (NTS), BKE (NTS), BONT (NTS),
CTR (NTS), DITC (NTS), ENT_UN.TO (NTS), FLO (NTS), IDG.TO (NTS), LTON (NTS),
PEGS (NTS), PLCE (NTS), PSUN (NTS), SHLO (NTS), ZLC (NTS)
BMO - Before market opens
AMC - After market closes
NTS - No time supplied
AFTER-HOURS ACTION:
After Wednesday's close of trading, NetApp Inc. posted an adjusted fiscal
fourth-quarter profit that topped Wall Street expectations, but issued fiscal
first-quarter guidance that fell short of analyst expectations. Computer
Sciences posted first-quarter adjusted profit and revenue that beat the
consensus forecast, Salesforce.com reported first-quarter net earnings a penny
above the mean estimate of analysts polled by Thomson Reuters, and Limited
Brands Inc. reported first-quarter adjusted earnings that topped the consensus
analyst estimate.
Joseph Woelfel
jw/gm/jw
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