Stocks To Open Flat
Stocks appeared set to open flat
Tuesday as Wall Street awaited the outcome of Federal Reserve’s interest-rate
setting meeting. The Fed is expected to release its decision at 2:15 p.m. ET. The
market is priced for a half-point cut.
Before the open, Wal-Mart Stores
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the world’s largest retailer, reported net income for the May 4 quarter of 31
cents a share vs. or 30 cents a year earlier and Thomson Financial/First Call’s
consensus estimate of 31 cents.
No. 5 U.S. retailer J.C. Penney
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reported operating income came in at 11 cents a share in the April 28 quarter
vs. 13 cents a year earlier and in line with estimates.
Home Depot
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of 27 cents a share for its April 30 first quarter vs. 27 cents a a year earlier
and expectations of 25 cents. The Atlanta-based retailer said said it is
comfortable with the current estimates averaging of 37 cents a share for the
fiscal second quarter. Total sales increased 10% to $12.2 billion, but
same-store sales dropped 3%.
Home goods retailer Williams-Sonoma
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reported net earnings for the April 29 first quarter of a penny a share vs.Â
8 cents in the year-ago quarter and estimates of a 2-cent loss.
Computer Sciences
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PowerRating) reported
earnings of 36 cents a share, excluding special items, for the March 30 fourth
quarter vs. analyst estimates averaging 35 cents. The company said it expects
profits to recover in the fiscal first quarter.