Thomson Financial North America Daybook - Monday, July 21, 2008

Thomson Financial North America Daybook - Monday, July 21, 2008

MAJOR U.S. EQUITY INDEXES:

U.S. stock futures look to open higher Monday as a big earnings week kicks off with the likes of Bank of America Corp., Merck & Co. and Apple Inc. issuing earnings reports.

Dow Jones industrial average futures rose 17 points to 11,518. Standard & Poor's 500 futures were up 4.30 to 1,264.70, while Nasdaq 100 futures were up 9 points to 1837.75.

On Friday, Wall Street closed out an impressive week with a mixed performance after disappointing high-tech earnings punctured some of investors' enthusiasm over better-than-expected bank earnings reports. The Dow Jones Industrial average rose 49.91, or 0.44%, to close at 11,496.57, the Nasdaq composite index dropped 29.52, or 1.28%, to 2,282.78, and the Standard & Poor's 500 index climbed 0.36, or 0.03%, to 1,260.68. The yield on the benchmark 10-year Treasury note rose to 4.09% from Thursday's 4%, and a barrel of light, sweet crude fell 41 cents to settle at $128.88 on the New York Mercantile Exchange.

ECONOMIC DATA:

- Leading indicators for June, 10 a.m. ET, -0.1% estimate

EARNINGS HIGHLIGHTS:

Company

Symbol Period Estimate Time

Apple Inc.

AAPL 3Q $ 1.07 AMC Bank of America

BAC

2Q

.53 NTS Boston Scientific

BSX

2Q

.11 AMC Merck & Co.

MRK

2Q

.83 BMO Schering-Plough

SGP

2Q

.41 BMO Texas Instruments

TXN

2Q

.46 NTS

Figures in parentheses denote losses.

COMPREHENSIVE EARNINGS LIST:

ASTE (7 a.m. ET), PETS (8 a.m.), HIFN (4 p.m.), AAPL (AMC-ET), AMLN (AMC-ET), AMX (AMC-ET), BOOT (AMC-ET), BSX (AMC-ET), CNI (AMC-ET), EFX (AMC-ET), EXP (AMC-ET), FDEF (AMC-ET), FNB (AMC-ET), FWRD (AMC-ET), HPC (AMC-ET), HXM (AMC-ET), IEX (AMC-ET), LNCR (AMC-ET), LOGI (AMC-ET), LRY (AMC-ET), MHK (AMC-ET), OMCL (AMC-ET), PGI (AMC-ET), PKG (AMC-ET), QLGC (AMC-ET), RE (AMC-ET), RGA (AMC-ET), SFG (AMC-ET), SNDK (AMC-ET), STLD (AMC-ET), VLTR (AMC-ET), WGOV (AMC-ET), RC (AMC-CT), AME (BMO-ET), CRNT (BMO-ET), HAS (BMO-ET), MRK (BMO-ET), RPM (BMO-ET), RX (BMO-ET), SGP (BMO-ET), UB (BMO-ET), WFT (BMO-ET), ALDN (NTS), ALB (NTS), BAC (NTS), BMI (NTS), CU.TO (NTS), INVX (NTS), MSPDD (NTS), OKSB (NTS), RDY (NTS), SNBC (NTS), STBA (NTS), TXN (NTS), WASH (NTS), WCBO (NTS)

AFTER-HOURS ACTION:

After Friday's close, IAC/InterActiveCorp moved closer to spinning off four of its operating units, with the company saying it priced $840 million in bonds and received $1.15 billion in bank commitments related to the spinoffs of three units. Joseph Woelfel jw/gm/jw

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Related terms: bank, bonds, Dow Jones Industrial Average, earnings, equity, futures, index, industrial, nasdaq, note, pets, texas, treasury