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There's never a dull week on Wall Street. Let's go over some of the news that will shape the week to come.
The new trading week kicks off quietly, but earnings season will kick up in earnest by the end of the week, so stay close.
Alcoa (NYSE: AA ) checks in on Tuesday. Analysts see the aluminum producer barely breaking even this time around, posting a profit of $0.01 a share. Alcoa came through with net income of $0.14 a share the prior year.
Liberty Media (NASDAQ: STRZA ) hosts its annual investor meeting on Wednesday, and a surprising presenter will be there. Sirius XM Radio (NASDAQ: SIRI ) CEO Mel Karmazin will speak to Liberty Media shareholders.
Yes, Liberty Media already has a nearly 50% stake in the satellite-radio giant, but Liberty Media's CEO has argued recently that Karmazin can be replaced after his contract is up by the end of this year. Karmazin himself has also wondered whether he should be kept around.
However, his presence at the investor event suggests that both companies are at peace these days. It's easy to see why. If Liberty Media takes a controlling stake in Sirius XM and spins it off to its investors, it will want stability during the transition process, and Sirius XM will want shareholders to keep holding. Karmazin's presence can satisfy both objectives.
Fastenal (NASDAQ: FAST ) twists into place on Thursday. The maker of nuts, bolts, and other industrial fasteners and products is expected to crank out a quarterly profit of $0.37 a share. Fastenal earned $0.33 during the same quarter last year.
The week closes out with a few of the "too big to fail" banks reporting, but let's key in on iGATE (UNKNOWN: IGTE.DL ) instead. As an IT outsourcing specialist, iGATE is a decent bellwether when it comes to gauging the health of the corporate realm. Wall Street's banking on iGATE's profitability soaring 42% to $0.37 a share.
Check that calendar
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