The Week Ahead: And the Band Plays On

 | May 19, 2013 | 8:00 PM EDT  | Comments
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tol

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hibb

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dks

I spent the last majority of last week at the Las Vegas MoneyShow giving presentations, sitting on panels and hosting a few as well. Not only was it good fun to be a part of the conference, but it was great to connect with a number of you, Real Money subscribers, as well as with a few of my fellow contributors. The stock market, as you no doubt know, marches on. Last week the S&P 500 rose another 2%, putting its year-to-date return at nearly 17%. 

Recapping last week's key economic data, we learned the manufacturing outlook remains mixed, given the tumble in the May readings from the Empire State Manufacturing and Philadelphia Federal Reserve indices. Sifting through the April industrial-production report, manufacturing contracted again in April following a decline in March. That slump led to the weakest level of manufacturing capacity utilization in some months, which means there is ample slack in manufacturing facilities across the country -- not a good near-term harbinger for hiring in this sector of the economy. 

This Friday, we'll get the latest read on durable orders when the Census Bureau releases its April figures. Core capital-goods orders trended downward in February and March, and many will be watching to see if that trend continued in April. Also on tap are the latest reads on existing and new-homes sales -- which will be of more than passing interest, given last week's weaker-than-expected housing-starts report for April. With that in mind, we'll be hearing from homebuilder Toll Brothers (TOL), which should offer incremental insight on the housing market, as well as its own order book.

On the corporate-earnings front, we'll be switching gears this week, getting hot and heavy on the retail front. In order to get ready for that, I went back and looked at some of the highlights from the Census Bureau's monthly retail-sales reports. In the last few months, some of the key categories that performed well included clothing, e-tailing, autos and auto parts. With gas prices falling over the last several weeks, I expect retailers to be modestly optimistic when they issue their near-term forecasts in the coming days. 

Some of the key retailers that I'll be listening to this week include Hhgregg (HGG) for a read on consumer electronics and appliance demand, as well as sporting goods stores Hibbett Sports (HIBB) and Dick's Sporting Goods (DKS). I'll also be paying attention to clothing retailers Urban Outfitters (URBN), Saks (SKS), American Eagle (AEO), Pacific Sunwear (PSUN), The Buckle (BKE), Gap (GPS) and Abercrombie & Fitch (ANF), among others. The pace of tech earnings is set to slow down this week, but we will still hear the latest from TiVo (TIVO), Dell (DELL), Hewlett-Packard (HPQ), Pandora (P), Marvell Technology (MRVL) and Salesforce.com (CRM). 

As for economic data, the velocity thereof is set to pick up after Wednesday's flash purchasing managers index reading for China, the eurozone and the U.S. Beyond that, here's a more granular look at what you should be paying attention to this week.

 

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Economic Calendar

Monday, May 20 and Tuesday, May 21

  • (No major economic releases)

____

Wednesday, May 22

  • Mortgage Bankers Association Mortgage Index (Weekly)
  • Existing Home Sales (April)
  • Bernanke Testimony
  • Federal Open Market Committee Minutes (May 1)

____

Thursday, May 23

  • HSBC Flash China Manufacturing Purchasing Managers Index
  • Markit Flash Eurozone PMI
  • Markit Flash U.S. Manufacturing PMI
  • Initial and Continuing Jobless Claims (Weekly)
  • Federal Housing Finance Agency Housing Price Index (March)
  • New Home Sales (April)

____

Friday, May 24

  • Durable Orders (April)

 

_________________

Earnings Calendar

Monday, May 20

  • Alvarion Ltd. (ALVR)
  • Campbell Soup (CPB)
  • hhgregg, Inc. (HGG)
  • TiVo Inc. (TIVO)
  • Urban Outfitters, Inc. (URBN)

____

Tuesday, May 21

  • Analog Devices (ADI)
  • AutoZone Inc. (AZO)
  • Best Buy Co. (BBY)
  • Dell Inc. (DELL)
  • Dick's Sporting Goods (DKS)
  • The Home Depot (HD)
  • Hewlett-Packard (HPQ)
  • Intuit Inc. (INTU)
  • Network Appliance Inc. (NTAP)
  • Red Robin Gourmet Burgers (RRGB)
  • Saks Inc. (SKS)
  • The TJX Companies (TJX)
  • Vodafone Group (VOD)

____

Wednesday, May 22

  • American Eagle Outfitters (AEO)
  • Booz Allen Hamilton (BAH)
  • Dycom Industries (DY)
  • 8x8 Inc. (EGHT)
  • Lowe's Companies (LOW)
  • PetSmart, Inc. (PETM)
  • Pacific Sunwear (PSUN)
  • SeaWorld Entertainment (SEAS)
  • Staples, Inc. (SPLS)
  • Target Corp. (TGT)
  • Toll Brothers (TOL)
  • Zale Corp. (ZLC)

____

Thursday, May 23

  • Advance Auto Parts (AAP)
  • Aeropostale Inc. (ARO)
  • The Buckle (BKE)
  • The Bon-Ton Stores (BONT)
  • Salesforce.com (CRM)
  • Dollar Tree Stores (DLTR)
  • Shanda Games (GAME)
  • GameStop Corp. (GME)
  • Gap, Inc. (GPS)
  • Hormel Foods (HRL)
  • Limited Brands (LTD)
  • Marvell Technology (MRVL)
  • Pandora Media (P)
  • Patterson Companies (PDCO)
  • Perry Ellis International (PERY)
  • Quality Systems (QSII)
  • Polo Ralph Lauren (RL)
  • Ross Stores (ROST)
  • Shoe Carnival (SCVL)
  • Stein Mart, Inc. (SMRT)
  • TD Bank Financial Group (TD)
  • The Toro Co. (TTC)
  • Williams-Sonoma (WSM)

_____

Friday, May 24

  • Abercrombie & Fitch (ANF)
  • Casual Male Retail (DXLG)
  • Footlocker (FL)
  • Hibbett Sports (HIBB)
  • Nordson Corp. (NDSN)
  • UTStarcom Inc. (UTSI)

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