The Economic Calendar has three potentially important events this week:
- Personal Income and Outlays on Monday (consensus 0.6% income, 0.5% spending)
- ISM Manufacturing on Tuesday (consensus 51)
- The Employment Situation on Friday (consensus 100,000 jobs added, 4.5% unemployment)
Earnings season continues in full force.
Monday
- Verizon (VZ) - possible upside to sales
Tuesday
- Plantronics (PLT) - anyone’s guess, though our long position gives away our own guess
Wednesday
- Cognizant (CTSH) - one of these days the growth will hit a wall, but probably not this day
- Garmin (GRMN - Annual Report) - shouldn’t need a big surprise to move the stock from this level
- Itron (ITRI) - risk to estimates in both directions due to Actaris acquisition
- Sprint (S - Annual Report) - the worst may be over here
- Symantec (SYMC) - Based on MFE and VDSL should have a big quarter
Thursday
- Ansys (ANSS) - Dassault beat big, and we like Ansys better
- QLogic (QLGC) - too risky for our tastes
- Starbucks (SBUX) - probably no surprise, but risk probably to the downside when they are making this kind of move
Disclosure: Author owns call options on Itron.
