Peter Schacknow, Senior Producer, CNBC Breaking News Desk
Wall Street is coming off a partial resumption of its recent Monday funk, with the Dow falling for the 10th time in 11 Mondays. However, stocks did finish well off their session lows, and the Nasdaq managed to inch into positive territory by the end of the session. It’s now riding a three-session winning streak, although one of extremely modest proportions.
Two key economic reports will be out this morning before the open, with the government issuing July figures for both producer prices and retail sales at 8:30 a.m. New York time. Economists look for a 0.2 percent rise in retail sales following June’s 0.5 percent increase, and predict the producer price index will register a 0.3 percent increase on top of June’s 0.1 percent rise.
At 10 a.m. New York time, June business inventories are seen up 0.1 percent, after a 0.3 percent increase in May.
Dow component Home Depot (HD) leads this morning’s list of earnings releases, with Estee Lauder (EL), Dick’s Sporting Goods (DKS), and TJX (TJX) also out. After today’s closing bell, we’ll get the latest quarterly numbers from JDS Uniphase (JDSU).
Today we’ll also see quarterly 13-F filings released, detailing changes in the holdings of significant investors. Some will come out during the trading session, others after the bell.
Groupon (GRPN) is a stock to watch this morning, after sliding to an all-time low (for its brief public history) in after-hours trading. The daily deals provider did earn $0.08 per share for the second quarter, five cents above estimates. But its revenues were short of consensus, and its current quarter revenue projection is on the cautious side.
Coinstar (CSTR) president and chief operating officer Gregg Kaplan is leaving the company. Kaplan was the founder of Coinstar’s Redbox video rental unit, and is leaving to pursue new opportunities.
Agrium (AGU) could get a boost today, on a Wall Street Journal report that hedge fund Jana Partners has taken a little less than 4 percent stake in the Canadian fertilizer producer.
Pfizer (PFE) is paying $250 million to AstraZeneca (AZN) for exclusive global rights to an over the counter version of AstraZeneca’s best-selling heartburn drug Nexium. Pfizer cut its full-year profit forecast to reflect the deal, while AstraZeneca raised its outlook.
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