What To Watch For Next Week (ADBE, VMW, BSC, LEH, MS, BSC, HOV)

September 15, 2007 by Douglas A. McIntyre

The overall news front is in a lull, but financial stocks and the market are going to be closely watched.  The FOMC releases its decision on interest rates Tuesday.  The  bet if for 25 basis points or 50 basis points depending on whom you ask.  We think the FOMC needs to go 50 basis points on Fed Funds, and they could offer up a real gift with a 75 basis point cut at the discount window.  But watch these Wall Street brokers, with this earnings preview for the big ones.  Most of the bulge bracket firms are reporting, and this willshow just how bad the lending and derivative malaise really is.  Here they are:

  • Lehman Brothers (NYSE:LEH) reports on Tuesday (9/18);
  • Morgan Stanley (NYSE:MS) reports on Wednesday;
  • Bear Stearns (NYSE:BSC) and Goldman Sachs (NYSE:GS) Thursday.
  • A.G.Edwards (NYSE:AGE) is also Thursday.

With oil hitting $80 and T. Boone Pickens calling for higher prices, you have to at least wonder if the recent media hype will bring attention back into uranium and nuclear power stocks.

Next week we’ll know more on how the Hovnanian (NYSE:HOV) house major discounted sales went.

In technology, Monday’s big numbers come from Adobe Systems (NASDAQ:ADBE) and its earnings.

Next week we’ll be one week out of the new/other virtualization conference that VMware (NYSE:VMW) is a sponsor at.  But this is in New York, where more analysts and fund managers will look for virtualization opportunities.

Jon C. Ogg
September 15, 2007

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