By Everdeen Mason
Earnings season picks up next week with reports expected from
several major airlines and giants in the technology and fast-food
spaces, along with scores of other companies.
The National Association of Realtors will release December
existing home sales data, while natural-gas and oil company Rice
Energy and car-loan business Santander Consumer USA Holdings are
expected to make their stock market debuts.
Airline reports on deck
Delta Air Lines Inc. (DAL), Southwest Airlines Co. (LUV) United
Continental Holdings Inc. (UAL) and Alaska Air Group Inc. (ALK) are
set to report next week.
The airlines generally reported strong December traffic as the
late holiday pushed passenger revenue further into the last month
of the year. The airline sector should benefit from an improved
U.S. and global economy, and will carry last year's strong trends
through the new year, Deutsche Bank analysts have said.
Other big names expected to post results next week are
McDonald's Corp. (MCD) and Microsoft Corp. (MSFT).
Home sales data due
The National Association of Realtors will release existing home
sales data for December on Thursday. Economists surveyed by Dow
Jones Newswires believe home sales edged back up to an annual rate
of 4.92 million last month, meaning that December sales would be
slightly above last year's.
The Federal Housing Finance Agency will also release housing
price appreciation data for November on Thursday. U.S. house price
appreciation has risen for almost two years, according to the
FHFA.
Rice Energy, Santander Consumer IPOs expected
Natural-gas and oil company Rice Energy and Santander Consumer
USA Holdings, the car-loan unit of Banco Santander SA (SAN,
SAN.MC), are expected to start trading next week.
Rice Energy expects to raise up to $800 million to repay debt
and other purposes, while Santander Consumer looks to offer 65.2
million shares for $22 to $24 each.
Markets closed Monday
U.S. markets, banks and government offices with be closed Monday
in observance of Martin Luther King Jr. Day.
-Kathleen Madigan contributed to this report
Write to Everdeen Mason at everdeen.mason@wsj.com
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