Earnings are due this week from:
• Best Buy (NYSE:BBY) on Tuesday. The estimates of $0.51 on $7.84 billion in sales have come down during the quarter but the stock hasn’t.
• Circuit City (NYSE:CC) on Wednesday. The estimates of a loss of $0.32 on $2.43 billion in sales have come down during the quarter along with the stock.
• FedEx (NYSE:FDX) on Wednesday. Estimates are for $1.98 on $9.14 billion in sales. Since this is already at the lower end of management’s guidance, falling short would likely be very disappointing.
The Economic Calendar looks pretty light.