What’s Happening Today: Tuesday, December 2


Our daily roundup of the economic and earnings calendar.


  • Philadelphia Fed President Plosser speaks at 12: 30 PM ET.  Topic: U.S. economic outlook.
  • Treasury Secretary Paulson speaks about the U.S.-China economic dialogues scheduled for later this week.

  • Car company CEOs return to Washington to beg for bailout.


  • General Electric (GE) conference call, 8:30AM:  Update on GE Capital. Some analysts expect the firm will use this call to cut its earnings outlook for 2009.
  • Beazer Homes (BZH) earnings: One of the nation’s largest home builders announces earnings. At least one analyst predicts Beazer’s total revenue for the quarter could come close to dropping by half. Lots of people will look to Beazer’s earnings as another proxy for the greater housing market—as if we need another indicator telling us that things were terrible in the last quarter. Consensus is $2.10 EPS on revenue of $593.4 million.
  • Sears Holdings (SHLD) earnings: Eddie Lampert’s venture was once described as a real estate hedge fund play. Now that Sears stuck being a retailer, it’s been getting crushed. This past quarter isn’t expected to be any better. Analysts expect somewhere between a loss of $0.37 to $0.73 per share. Revenues expected to come in between $10.89B and $11.55B.
  • Staples (SPLS) earnings: Another test of consumer sentiment this fall. Analyst consensus expects at least a 10% growth in sales in the third quarter, which is completely insane. Analysts consensus is a profit of $0.41 per share, with revenues of $7.03B.