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 market kicks off the new trading week with Campbell Soup (NYSE: CPB ) reporting quarterly results on Monday morning. Campbell Soup is the company behind many popular consumer brands. Beyond its signature soups, we're talking about Pepperidge Farms baked goods, Goldfish crackers, Prego pasta sauces, and more.
Analysts aren't holding out for much here. They see weak sales, with quarterly revenue and earnings per share declining slightly relative to last year.
We'll be taking care of business on Tuesday, when Staples (NASDAQ: SPLS ) steps up with fresh financials. The office-supply superstore chain has been struggling lately both here and abroad. It seemed to have caught a break last year, when its two nearest retail rivals merged. The combination finds its rival closing some stores, and the merger should make margin-swallowing price wars less likely. Just as with Campbell Soup, analysts see revenue and profitability going the wrong way when Staples reports.
Hewlett-Packard (NYSE: HPQ ) gives us our best insights on the state of the PC industry now that Dell has gone private. Things aren't as ugly as they were in 2012 and 2013, when desktop and laptop sales were plunging in favor of smartphones and tablets. Sure, that's still happening to a large extent, but the improving global economy is giving HP a way to at least hold its own. Wall Street see flattish revenue and earnings growth for the period when HP reports on Wednesday.
Best Buy (NYSE: BBY ) is another tech hardware play that's just scraping by. The leading consumer electronics retailer saw its shares more than tripling when a new CEO seemed to have a turnaround in place, but we're now seeing that showrooming continues to plague the old-school retailer of new technology.
Wall Street sees a small drop in sales accompanies by a sharper fall in net income when it reports on Thursday morning. Margins have been hard to come by as Best Buy is forced to sell at leaner markups to compete against online retailers with lower overhead. Why again did Best Buy more than triple last year?
The final trading day of the week is typically quiet, and the silence will be even more pronounced with the Memorial Day holiday weekend kicking off. One place buzzing will be your local multiplex. This is a huge weekend for exhibitors, and two of the bigger debuts this weekend include X-Men: Days of Future Past and Blended. They will also compete with the already healthy slate of movies released earlier this month.
R.I.P. Internet -- 1969-2014
At only 45 years old, the Internet will be laid to rest in 2014. And Silicon Valley is thrilled. The Economist believes the death of the Internet "will be transformative." In fact, the CEO of Cisco Systems -- one of the largest tech companies on the planet -- says somebody's going to bank "$14.4 trillion in profit from one concept alone."