Big Dow Components to Brief Analysts This Week
There will be plenty of news for investors to digest this week with several Dow heavyweights, including General Electric, Procter & Gamble, and Hewlett-Packard, all hosting analysts meetings.
Starting the week off is Texas Instruments , which will issue its mid-quarter update after the closing bell today.
On Tuesday, General Electric (parent of CNBC) meets investors to discuss its 2007 outlook. Comments will be closely watched both for information on GE's performance and the broader economy. The 3 pm event is Web cast.
Hewlett-Packard meets analysts at a day-long meeting in New York Tuesday, and CNBC's Jim Goldman will be there. With much of the computer hardware and software maker's restructuring behind it, investors will be looking to see what will be fueling its future growth.
Merck also holds a business briefing on Tuesday.
On Thursday, Procter & Gamblemeets analysts in Cincinnati in what is expected to be an upbeat meeting.
The consumer products giant will likely discuss how the integration of Gillette is going. P&G has promised to deliver $1 billion to $1.2 billion in cost savings from the Gillette deal by fiscal year 2008 as well as an incremental 1% in revenue synergies.
J.P. Morgan's John Faucher says he expects P&G to come in at the high-end of the range for cost savings, but says there could be "some difficulty" in delivering on topline synergies.
P&G, with its vast operations outside the U.S., has benefited from the recent weakness in the dollar. However, there are questions about whether the recent weak sales at Wal-Mart , P&G's largest customer, has had an impact on its own sales.
Also Thursday, chip-maker Advanced Micro Devices holds its analyst day. That meeting could provide a glimpse at how PC sales have been trending this holiday season.
There has been no shortage of speculation ahead of Citigroup's investor day at its New York headquarters on Thursday. Citigroup shares hit a 52-week high on Friday, amid market chatter that a management shakeup or a corporate restructuring was in the works.
Citigroup told CNBC's Mary Thompson it does not comment on speculation, but it flatly denied rumors its CFO Sallie Krawcheck is leaving. The company's meeting will be Web cast live beginning at 8:30 a.m.
Other big investment banks also will be in the news this week. Goldman Sachs Group, Bear Stearns and Lehman Brothers Holdings all report corporate earnings this week, and the news is expected to be very good, with robust levels of trading boosting profits. Goldman Sachs' scorecard is set for release on Tuesday. Bear Stearns and Lehman Brothers will report results on Thursday.
Other quarterly reports are expected from retailers Best Buy and Dollar General on Tuesday, plus Costco Wholesale earnings on Thursday. These reports will help investors assess the strength of consumer spending.
On the tech front, graphic software maker Adobe Systems is due to report results on Thursday.