Earnings season heats up this week, but if things turn out as expected, this quarterly reporting season will be nothing short of ice-cold. With 10 components of the Dow Jones Industrial Average (INDEX: ^DJI) and more than 15% of S&P 500 (INDEX: ^GSPC) companies reporting, we'll receive a good sense of whether consensus expectations are on target. The reports don't swing into full gear until tomorrow, but there are nonetheless some interesting events to pay attention to today.

Data
Consumer spending accounts for about two-thirds of GDP, and today investors receive a key consumer reading at 8:30 a.m. EDT: monthly retail sales. Economists expect a 0.2% rise from May. The expectations align with lackluster same-store sales numbers posted earlier this month, when average sales at a group of 20 companies grew 0.3%, according to a report from Retail Metrics.

Deals
In deal-related news, reports surfaced over the weekend that GlaxoSmithKline has reached an agreement with Human Genome Sciences (Nasdaq: HGSI) to acquire the company for around $2.8 billion, or $14 per share. Shares of Human Genome have been hovering around that mark since mid-April following the rejection of its marketing partner's initial $2.6 billion bid. With the purchase, GSK will acquire full rights to lupus drug Benlysta, as well as two drugs in late-stage trials.

Yearning for some earnings
On the earnings front, investors will be looking to Citi (NYSE: C) to build on the positive momentum started by solid earnings reports from JPMorgan and Wells Fargo on Friday. Consensus expectations call for earnings per share of $0.89 on an 8% drop in revenues. Other S&P 500 components to report tomorrow are Cintas and Gannett. Uniform services outfit Cintas is expected to book revenue and earnings growth of 5.3% and 22.4%, respectively. Gannett, the publisher of USA TODAY and other daily newspapers nationwide, is expected to see a slight drop in revenue to $1.32 billion and a 10% fall in EPS to $0.52.

Outside the S&P, mortgage REIT Chimera Investment (NYSE: CIM) is expected to report today. Chimera, which specializes in nonagency mortgages, has had problems applying GAAP accounting principles to its portfolio of nonconforming mortgages, causing it to delay the filing of both its 2011 annual report and its first quarterly report of 2012. Analysts are expecting EPS of $0.11.

Forget about earnings season
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