Last week the bulls took back some control of the markets, finishing with some rather significant gains in the holiday shortened week. This week there is a lot more substantial economic data to be released as well as some lingering earnings reports that could move the market. Let's start out looking at the earnings reports for the coming week.
Monday June 2nd
- Lululemon Athletica Inc. (Nasdaq:LULU) This athletic apparel retailer has seen some major swings in the past 52 weeks and investors are looking for clarity from the company regarding its future growth opportunities.
- Thornburg Mortgage (NYSE:TMA) What a mess this company is in. Check out this article if you want to see just how bad things are.
Tuesday June 3rd
- Toll Brothers (NYSE:TOL) Yes these results will be ugly, but just how bad will the outlook be? It has been really ugly at DR Horton (NYSE:DHI) and Lennar (NYSE:LEN).The market trusts Robert Toll in his opinions about the housing industry so they will listen closely.
Wednesday June 4th
- Martek Biosciences (Nasdaq:MATK) MATK has been a top-performer in the biotech area so much is expected from them. They are expected to bring in 25 cents per share.
- Williams Sonoma (NYSE:WSM) This high-end home products retailer has had significant earnings issues in the past so it will be interesting to see if they can turn the corner.
Thursday June 5th
- Ciena Corporation (Nasdaq:CIEN) This tech company has become quite profitable and investors are expecting 37 cents in this quarter.
- Focus Media (Nasdaq:FMCN) This Chinese television display maker has been hit hard in the past year because of growth disappointments. Investors want to see what kind of demand they are seeing.
- SmithField Foods (NYSE:SFD) Given the difficult environment, SFD has performed quite well. Analysts are looking for 6 cents per share.
- Take Two (Nasdaq:TTWO) The big news here will be that analysts and investors want to hear how the new Grand Theft Auto game is selling. The estimate is for $1.12.
Economic data preview
In reality there really is only one piece of economic data that will likely move the markets in a big way this week and that is the jobs data on Friday June 6th. The jobs data is probably the most important piece of data that traders need to see to determine the health of the overall economy. It was last months jobs number that surprised to the upside and gave many hope that the economy isn't as bad as they feared. Now investors want to know if that was an abberation or a real sign of long-term strength. The average estimate is for 50,000 jobs to have been lost in the month of May, versus a loss of 20,000 in April. Also watch the revisions from April and March to see if there is a trend there. The market will be watching this report like a hawk, and you should be as well.
Have a great week of investing!
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