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Xilinx Inc. Message Board

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  • get_a_clue99 get_a_clue99 Jun 7, 2003 3:15 PM Flag

    no 10% - 20% "correction"

    << 06-Jun-03
    Looking Ahead : As the market transitions to the June quarter reporting season, next week's events calendar mirrors much of this week's action. The economic data are fairly heavy, earnings reports extremely light, and shareholder meetings/brokerage firm conferences well-represented on the calendar.

    Amid the myriad of economic reports on tap, a few will shed particular light on the strength of economic recovery - a driving factor behind the indices' broad-based rally. Jobless claims for the week of June 6 will be released Thursday at 8:30 ET, with the market expecting the figure to come in above the 400K mark for the 17th week in a row (at 427K). May retail sales are also scheduled for release at the same time. A slew of generally better than expected May comparable store sales has set the stage for an uptick from the lackluster April result. May consensus estimates are pegged at +0.2%, or +0.3% excluding autos.

    On Friday, the University of Michigan Consumer Sentiment preliminary number for June and the May PPI report will bring attention back to the consumer and pricing picture. Concerns surrounding the risk of deflation have been amplified following the Fed's cautious comments at its May meeting, and the April PPI report that marked the largest decline on record. As such, the May reading will provide important insight into the pricing environment, and should show some improvement as the price of gasoline has stabilized following its post-war plunge.

    In contrast to the economic data, earnings reports are few and far between next week, and should play an inconsequential role in market movement. Adobe's (ADBE) Q2 (May) report Thursday after the close should command a decent amount of interest, especially in light of the software company's move to raise its forecast to $0.24-0.28 in GAAP EPS and $305-320 mln in revenues.

    Finally, the events calendar is relatively full and features a mid-quarter update from Nokia (NOK) on Tuesday, and shareholder meetings from AT&T (T) and Siebel Systems (SEBL) on Wednesday. Notable conferences include Goldman Sachs' Healthcare Conference, Bear Stearns' Technology Conference, and USB Piper Jaffray's Consumer Conference. Rounding out the meetings, Fed Governor Kohn (who is a voter on the FOMC) will speak at a Fed conference in Massachusetts on Tuesday, and Fed Governor Susan Bies (also a voter) will speak on corporate governance in Washington on Wednesday. --Heather Smith,

41.05-0.5600(-1.35%)Mar 4 3:59 PMEST

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