Nasdaq posts new year high

MARKET OUTLOOK

- US: US markets enjoyed another positive week, with the Nasdaq posting a new year high. Lower than expected economic data suggests a further interest rate cut in the Fed's next meeting. Stocks from insurance, automobiles and tech. hardware gained most, while energy, retailing and banks were among the worst performers. US indexes should continue to rise in forthcoming days.

- EUROPE: European markets remained broadly flat week-on-week. The euro continued to trade higher hitting a new record high. Stocks from the automobiles and parts, basic resources and utilities rose the most last week. However shares in the food and beverage, oil and gas and healthcare sectors lost ground week-on-week. This week the bullish mood should prevail.

COMPANY PREVIEW

Tesco (GBp 439.25 ; -0.68% ; TSCO ; TSCO.L)

Tesco is expected to report H1 results on Tuesday. H1 EPS is seen at 0.11 UK pounds (0.10 UK pounds a year ago), on sales of 22.7bn UK pounds (20.73bn UK pounds last year). The group will unveil plans to sell clothes over the Internet for the first time later this week, according to The Observer. Last week, the stock's target price was cut to 525p from 550p by UBS.

Micron Technology (USD 11.1 ; 3.45% ; MU ; MU.N)

In the US, Micron Technology will announce Q4 results on the same day. The Co is seen reporting Q4 LPS of $0.23 (EPS of $0.12 a year ago), while sales are expected to reach $1.408bn, compared to $1.373bn in the same period last year. Last week, the stock rebounded on speculation that the maker of computer memory chips could exceed analysts' estimates when reporting Q4 results.

Marriott International (A) (USD 43.47 ; -2.64% ; MAR ; MAR.N)

On Thursday before market opens, Marriott International may report a Q3 EPS of $0.301 (EPS of $0.31 a year ago) on sales of $2.825bn ($2.703bn). Last week, the Co announced that it intends to quadruple the number of properties it has in China by 2013 to take advantage of surging demand for rooms in the country.

Constellation Brands (USD 24.21 ; 0.67% ; STZ ; STZ.N)

Still on Thursday, Constellation Brands is scheduled to deliver before market Q2 EPS of $0.33 (EPS of $0.43 a year ago) on sales of $883.47m ($1.417bn last year). On August 30, competitor Brown-Forman reported that Q1 EPS increased to $0.77 from $0.76 a year earlier. Q1 sales increased 17% to $739.1m.

Family Dollar Stores (USD 26.56 ; -2.1% ; FDO ; FDO.N)

Finally, on Thursday, Family Dollar Stores could post Q4 EPS of $0.25 ($0.21 a year ago) on sales of $1.646bn ($1.58bn). Last month, the Co reported that net sales for the four weeks ending September 1 increased 3.4% to approx. $494.4m from $478.3m for the comparable four week period a year before. Comparable store sales for the four week period increased 1%.