MARKET OUTLOOK
- US: The Dow Jones and S&P 500 rose last week while the Nasdaq 100 finished unchanged. Corporate earnings were mixed and lower oil prices pushed the energy sector sharply down. The earnings season is nearly over and with the next Fed's meeting on March 28 the risk is that the current flat consolidation continues until then. Investors are concerned new Chairman Ben Bernanke could be too aggressive in fighting inflation.
- EUROPE: European markets rose slightly last week apart from the Cac 40. Total's decline over the week (-3.85%) was the main drag to the French index. Technically, this week looks set to show a continuation of the consolidation for the European indices.
COMPANY PREVIEW
Cendant (USD 16.81 ; 3.83% ; CD ; CD.N)
Cendant is expected to report 4Q/Dec EPS $0.23 ($0.30 a year ago) on revenue of $4.16bln ($4.9bln). Last week's bounce off $15.69 could take the stock up to $17.2 & $17.6.
UBS (CHF 139.8 ; 1.16% ; UBSN ; UBSN.VX)
On Tuesday UBS reports its 4Q data. A profit of CHF5.76bln for the quarter is expected. The group will pay out $89m to settle lawsuits by US stockbrokers who claimed to have been denied overtime pay.
Hewlett Packard (USD 31.51 ; 3.11% ; HPQ ; HPQ.N)
On Wednesday Hewlett-Packard delivers its 4Q earnings. EPS seen at $0.44, up from $0.37 same time last year on revenue of $22.55bln ($21.45bln). Investors will want to know if the company is on track with its restructuring targets. The group recently announced the purchase of OuterBay Technologies for an undisclosed amount.
Dell Computer (USD 31.79 ; 8.65% ; DELL ; DELL.O)
On Thursday Dell releases its 4Q results. The market is looking for a profit per share of $0.41, up from $0.37 last year on revenue of $14.7bln ($13.4bln a year ago).
Target (USD 54.61 ; -0.64% ; TGT ; TGT.N)
And finally on the same day Target releases its 4Q data. The retailer reported a 5.2% rise in same-store sales for January in strong month for the retail market. EPS expected at $1.05 on revenue of $16.79bln.
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Subdued outlook for equities
- Monday, February 13 - 2006 at 14:16
The earnings season is nearly over and with the next Fed's meeting on March 28 the risk is that the current flat consolidation continues until then. Investors are concerned new Chairman Ben Bernanke could be too aggressive in fighting inflation.
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InternaxxMonday, February 13 - 2006 at 14:16 UAE local time (GMT+4)
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This article was updated on Sat May 26 2007.
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