By Ben Fox Rubin
As earnings season continues, a big set of technology and energy
companies are scheduled to report results. Additionally, several
data reports, including the always important jobs numbers, are
expected, along with an initial public offering from Zoetis
Inc.
Amazon, Facebook Among Batch of Tech Stocks Reporting
A handful of big technology companies are expected to report
earnings next week, with Amazon.com Inc. (AMZN) scheduled for
Tuesday and Facebook Inc. (FB) for Wednesday.
Amazon's shares took a hit three months ago after the Internet
retail giant posted its first quarterly loss in nearly a decade, as
its aggressive and expensive expansion plans kept weighing down
results. Revenue should continue rising, but the bottom line is
expected to be weak again.
Meanwhile, Facebook's stock has been gaining ground since
November amid some encouraging data on its progress to make money
from its mobile phone app. Still, the social site's stock remains
below its May initial public offering price of $38 a share. Growth
in mobile is sure to take center stage again for the upcoming
quarterly release.
Other tech companies weighing in next week are Yahoo Inc.
(YHOO), Seagate Technology Inc. (STX), Broadcom Corp. (BRCM),
Qualcomm Inc. (QCOM) and EMC Corp. (EMC).
Energy Companies to Release Results
Several major coal, oil and gas companies are slated to report
quarterly results, with Exxon Mobil Corp. (XOM) rounding out the
week with its report on Friday.
While the entire oil industry has suffered from unstable prices
for crude and natural gas in recent quarters, Exxon's production
woes underscore how challenging it is for the biggest oil companies
to grow production in a meaningful way despite massive investments.
The Texas oil giant's profit in the third quarter declined as its
production slid to the lowest level in three years. Earnings are
expected to improve this time around.
Additionally, ConocoPhillips (COP), Marathon Petroleum Corp.
(MPC), Murphy Oil Corp. (MUR), Occidental Petroleum Corp. (OXY),
National Oilwell Varco Inc. (NOV), Hess Corp. (HES), Peabody Energy
Corp. (BTU) and Consol Energy Inc. (CNX) will be reporting.
Earnings Grab Bag
More major names will be reporting throughout a busy week for
equities. They include Boeing Co. (BA), Ford Motor Co. (F), United
Parcel Service Inc. (UPS), Caterpillar Inc. (CAT), Aetna Inc.
(AET), Nasdaq OMX Group Inc. (NDAQ), and Pfizer Inc. (PFE).
K-V Pharmaceutical Bankruptcy Proceedings to Continue
On Wednesday, K-V Pharmaceutical Co. (KVPBQ, KVPHQ) will go
before the court to seek an extension of the time in which it alone
may file and drum up support for its bankruptcy-exit plan.
K-V recently filed such a plan, which proposes that the company
reorganize around its flagship drug Makena, but a lot of work
remains. It still has to reach out to creditors, win court approval
of a plan outline, collect creditors' votes on the plan and put the
plan itself up for court approval.
If its exclusive plan-filing rights are allowed to expire Feb.
4, K-V would be exposed to the possibility that its creditors could
take matters into their own hands.
Heavy Week for Data
The employment report, always in the spotlight, will have to
share some of the financial markets' attention next week. The
packed calendar has important reports scheduled every day of the
week.
According to a survey of economists compiled by Dow Jones
Newswires, the numbers should show that business activity in
January wasn't much different than the pace seen in December, and
the jobless rate is forecast to remain at 7.8%.
Also on Friday will be the factory survey done by the Institute
for Supply Management. The median forecast calls for the purchasing
managers' index to come in 51.0 in January, little changed from
50.7 in December and indicating a factory sector stuck in
neutral.
The first look at fourth-quarter gross domestic product will be
reported Wednesday, and it's expected to look quite weak.
Zoetis Among Next Week's IPOs
Zoetis Inc., the animal-health unit separating from Pfizer Inc.
(PFE), is expected to launch its initial public offering, setting
up a deal that could be worth as much as $2.2 billion.
Zoetis, which will trade under the symbol ZTS, makes vaccines
and drugs for pets, cattle and other farm animals. Among its
products are antibiotics treating pneumonia in cattle and vaccines
against the E. coli bacteria in chickens. It also sells a Lyme
disease vaccine for dogs.
The IPO filing is part of Pfizer's plan to shed certain
businesses and focus on human pharmaceuticals, partially unwinding
years of megamergers that made Pfizer the largest drug maker in the
world by sales.
Other expected IPOs are homebuilder TRI Pointe Homes Inc. and
biopharmaceutical firm KaloBios Pharmaceuticals Inc., according to
IPO Boutique.
--Jacqueline Palank, Kathleen Madigan and Chris Dieterich
contributed to this story.
-Write to Ben Fox Rubin at ben.rubin@dowjones.com
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