More Firms to Report Quarterly Earnings

With 370 companies in the Standard & Poor’s 500 having reported quarterly earnings, there are still plenty left to post results this week. Most major corporations have already reported, however, and few reports this week appear likely to be able to move the market substantially.

Procter & Gamble Co. could give investors clues today as to consumers’ spending appetite. The healthcare and personal goods manufacturer is expected to report earnings of 55 cents a share, up from 30 cents a year earlier. The stock has traded in a narrow range over the last year but rose steadily through the July rally, closing Friday at $55.63, 10% above its 52-week low of $50.53 on Oct. 28.

The media sector will be closely scrutinizing the results from Pixar Animation Studios, which has been disappointed with DVD sales of “The Incredibles.” The stock took a severe hit earlier this year, falling 21% from its 52-week high of $54.57 on June 7 to close Friday at $43.01. The company, which reports its results Thursday, is expected to have earned 11 cents a share, down sharply from 31 cents in the second quarter of 2004.

From Associated Press

The Week Ahead

Today

* The Commerce Department reports on construction spending for June.

* The Institute for Supply Management issues its report on activity in the manufacturing sector during July.

* Quarterly earnings reports expected from Procter & Gamble, Humana Inc. and Tyson Foods Inc.

Tuesday

* The Commerce Department reports on personal income and spending, as well as factory orders, for June.

* Automakers release sales figures for July.

* Quarterly earnings reports expected from Sirius Satellite Radio Inc., Charter Communications Inc., Comcast Corp. and Tenet Healthcare Corp.

Wednesday

* The Treasury is expected to announce whether it will bring back the 30-year bond.

* The Institute for Supply Management issues its report on activity in the service economy during July.

* Quarterly earnings reports expected from Time Warner Inc. and Napster Inc.

Thursday

* The nation’s largest retailers announce July sales figures.

* Quarterly earnings reports expected from Viacom Inc., Pixar Animation Studios, Gateway Inc., Gemstar-TV Guide International Inc. and Harrah’s Entertainment Inc.

Friday

* The Labor Department reports on employment for July.

* The Federal Reserve reports on consumer credit for June.

* Sentencing of former WorldCom accountants Betty Vinson and Troy Normand.