SAN FRANCISCO (Thomson Financial) - Thomson Financial North America Daybook
- Wednesday, July 2, 2008
MAJOR U.S. EQUITY INDEXES:
Wall Street is on track to open higher Wednesday, helped by a media report
that Microsoft Corp. is considering a fresh takeover bid for Yahoo Inc., with
Starbucks Corp. also in focus after the coffee chain said it would close several
hundred stores in the U.S.
According to spread bettors IG Index, the Dow Jones industrial average is
expected to open up 20 points at 11,402. S&P 500 futures were up 2.10 at
1,288.30, while Nasdaq 100 futures climbed 4 to 1,873.
Wall Street began the third quarter with an erratic session and modest gain
Tuesday after a mix of news made it clear the country is still deep in economic
problems but may have some positive trends.
The Dow Jones industrial average rose 32.25, or 0.28%, to close at
11,382.26, the Nasdaq composite gained 11.99, or 0.52%, to 2,304.97, and the
Standard & Poor's 500 index added 4.91 points, or 0.38%, to 1,284.91. The yield
on the benchmark 10-year Treasury note rose to 4.01% from late Monday's 3.98%,
and oil settled at a new record of $140.97 a barrel on the New York Mercantile
Exchange.
ECONOMIC DATA:
- Factory orders for May, 10 a.m. ET, 0.6% estimate
EARNINGS HIGHLIGHTS:
Company Symbol Period Estimate Time
Family Dollar FDO 3Q $ .40 BMO
Figures in parentheses denote losses.
COMPREHENSIVE EARNINGS LIST:
SPEC (AMC-ET), WDFC (AMC-ET), AYI (BMO-ET), FDO (BMO-ET), ISLE (BMO-ET), SGK
(BMO-CT), SHLM (NTS), UNF (NTS)
AFTER-HOURS ACTION:
After Tuesday's close of trading, Starbucks Corp. said it will shutter 600
company-operated stores in the next year, up from its previous plan for 100
closures, impacting about 12,000 workers. In other after-hours action, Apollo
Group Inc. said it earned $139.1 million as enrollment grew by 11% in its fiscal
third quarter.
Gabriel Madway
jw/gm/jw/jw/gm/jw/jw/gm/jw
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