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.
• Verizon (NYSE:VZ) - possible upside to sales
• Cognizant (NASDAQ:CTSH) - one of these days its growth will hit a wall, but probably not this day
• Garmin (NASDAQ:GRMN) - shouldn’t need a big surprise to move the stock from this level
• Itron (NASDAQ:ITRI) - risk to estimates in both directions due to Actaris acquisition
• Sprint (NYSE:S) - the worst may be over here
• Symantec (NASDAQ:SYMC) - Based on MFE and VDSL should have a big quarter
• Ansys (NASDAQ:ANSS) - Dassault (OTCPK:DASTY) beat big, and we like Ansys better
• QLogic (NASDAQ:QLGC) - too risky for our tastes
• Starbucks (NASDAQ: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 and is long Plantronics.