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Week Ahead: Jobs Report, Earnings

 
By Dunstan Prial
FOXBusiness
     

    Investors will wait anxiously all week for a labor report due to be released Friday that will likely show U.S. unemployment topped 10% during October.

    Communications strategy is likely to be among the issues on the table when officials gather for the next meeting of the central bank's Federal Open Market Committee, which sets interest-rate policy, on Tuesday and Wednesday. The FOMC is not expected to move interest rates.

    Major retailers, which will report same-store sales for October on Thursday, may benefit from the recovering economy as well as from cool weather, which sparks sales of fall and winter clothing.

    Cisco (CSCO), which reports Wednesday, is expected to post lower profit and sales but also affirm the much-anticipated comeback in corporate demand for high-tech products and services.

    Kraft (KFT), which reports Tuesday, is expected to post wider profit margins and possibly even exceed forecasts. The food company's earnings will be closely watched since its bid for Cadbury (CBY) has a stock component, and it must convince Cadbury shareholders of the value of holding its shares.

    Major media companies are likely to describe a stabilizing advertising market after years of declines when they report third-quarter results next week. Viacom (VIA), owner of such cable-TV channels as MTV and Comedy Central, reports Tuesday, followed a day later by Time Warner (TWX), parent of AOL, CNN and HBO, and News Corp. (NWS), which owns the publisher of The Wall Street Journal and this Web site. Broadcaster CBS Corp. (CBS) posts results Thursday.

    Three major hedge-fund managers will post third-quarter results next week as their funds capture their high-water marks. Och-Ziff Capital Management LLC (OZM), which reports Tuesday, is likely to post lower results from a year earlier, though it has seen improvement in all of its funds. Fortress Investment Group (FIG) and Blackstone Group LP (BX) are expected to swing to the black when they report Friday.

    More insurers will report third-quarter results next week after rivals this week said improving business and rallying stock markets put an end to big investment losses. Hartford Financial Services Group (HIG), which reports Tuesday, is likely to swing to a profit, while Prudential Financial (PRU) results Wednesday are expected to increase from a year earlier. Health insurers Humana (HUM) and Cigna Corp. (CI) will report Monday and Thursday, respectively. Allstate (ALL), which reports Wednesday, is likely to swing to a profit.  

    Economic reports out Monday are expected to show a small rise in pending home sales and a small decline in construction spending in September. The Institute for Supply Management reports on manufacturing activity Monday and the services sector Wednesday. On Tuesday, the government will release data on September factory orders while its preliminary figure on third-quarter productivity is due Thursday.

     
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