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 holiday-shortened trading week isn't likely to be very exciting, but it will kick off in an egg-citing way. Cal-Maine (NASDAQ:CALM), a leading producer of shelled eggs, will report its quarterly results in the morning.
This may not seem like a hotbed of growth, but Cal-Maine stock has been a 40-bagger over the past 11 years. It closed out this past week by hitting yet another all-time high. Wall Street's holding out for a profit of $1.05 a share, well ahead of the $0.60 it earned a year earlier.
The market will close three hours early on Tuesday. It's the final trading day of 2013, and all of the major market indices have turned in healthy double-digit returns. Most investors probably didn't see this coming in a year when borrowing rates moved sharply higher; a two-year payroll tax break came to an end, giving workers less take-home pay; and corporate profits have been kept largely in check.
Then again, the market always surprises us. Let's see what 2014 has to offer.
The market is closed in observance of the New Year's Day on Wednesday. Since it's January, one notable event for Wednesday is that Sirius XM Radio's (NASDAQ:SIRI) monthly rate will be bumped from $14.49 to $14.99. Sirius XM had a higher rate increase in 2012, and it still managed to grow its subscriber rolls nicely on the year, but this will be another test of satellite radio's pricing elasticity.
After its early close on Tuesday and not being open at all on Wednesday, the major exchanges open again for trading on Thursday.
There will only be a couple of companies reporting on the first trading day of 2014, but one of the more interesting ones will be China Finance Online (NASDAQ:JRJC). The provider of investing research in China for both institutions and individual investors seemed to be left for dead after peaking in 2008, but it's been showing signs of life after more than quadrupling in 2013.
The final trading day of the week will also be quiet in terms of trading activity, but one company reporting will be Lindsay (NYSE:LNN). The provider of irrigation systems and infrastructure products could use some watering of its own. Analysts see a slight decline in revenue, but an even larger slide in profitability for the quarter. Lindsay missed Wall Street's profit targets badly in its previous quarter, so the trend is not its friend.