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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 first trading day of the week kicks off with Cellcom Israel (NYSE: CEL ) reporting quarterly results. The Israeli cellular provider with nearly 3.2 million subscribers shot down rumors last month that it was an acquisition target, and it also issued preliminary results that were less than inspiring. We'll see if it addresses the buyout chatter during the call.
Ron Johnson is gone, but J.C. Penney (NYSE: JCP ) is still in the doghouse. The troubled department-store chain has seen its sales drop dramatically since Johnson's failed concept makeover kicked in early last year. Johnson was dismissed as CEO earlier this year, but the retailer still needs to woo back shoppers.
J.C. Penney reports on Tuesday morning, and no it's no surprise that analysts see a large quarterly deficit on lower sales.
The housing rebound continues. We learned on Friday that housing starts rose 5.9% in July to a seasonally adjusted annual rate of 896,000 homes. It's against this backdrop that Toll Brothers (NYSE: TOL ) will report quarterly results on Wednesday.
Unlike many of the other publicly traded homebuilders, Toll specializes in luxury homes. The average price of its homes clocked in at $577,000 in its latest quarter. Investors will want to tune in to see how its order backlog is coming along, and if buyers are getting cold feet in this environment.
Aruba Networks (NASDAQ: ARUN ) reports on Thursday. The provider of network access solutions for the mobile enterprise saw its stock plunge 26% in a single day three months ago, when it posted weak quarterly results. Are investors gluttons for punishment? The stock has gone on to make all of that loss back -- and then some.
Wall Street's more conservative in approaching Aruba these days. The pros see it posting a sharp decline in profitability on a mere 7% top-line uptick. If Aruba burns investors again, it would be a surprise to see the stock rebound again in three months.
Ann (NYSE: ANN ) suits up on Friday morning for its financial results, as one of many retailers posting this week.
It doesn't help that many of the leading retailers that posted this past week came in with weak sales. Consumers aren't spending as freely as the improving economy would seem to suggest. Ann, as the parent company of Ann Taylor and Loft, is expected to post revenue and earnings growth in the mid-single digits.
It's hard to get excited about Ann when so many other retailers have been showing up all raggedy.
Bigger than J.C. Penney or Ann
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