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Sunday, July 18, 2004 - Page updated at 12:00 A.M.
STOCK QUOTES      More market data...

Sunday Memo
A glimpse of the business week ahead


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Heads up: The stock market has entered the summer doldrums early, as renewed pressure on oil prices and other concerns outweigh optimism about second-quarter corporate profits. Analysts are predicting blue-chip companies will report earnings growth of nearly 20 percent over a year earlier. That has the experts confused: Earnings climb 20 percent, but stocks keep floundering.

Tuesday: Safeco posts second-quarter results. ... Federal Reserve Chairman Alan Greenspan will deliver his semi-annual economic outlook to the Senate Banking Committee (and Wednesday before the House Financial Services Committee).

Wednesday: Last month, Washington Mutual warned Wall Street that the Seattle-based thrift's second-quarter numbers would be disappointing. We'll find out just how disappointing sometime after the market closes. ... Other companies reporting quarterly results: Seattle coffee retailer Starbucks, Bothell biotech Sonus Pharmaceuticals and Seattle tech company F5 Networks.

Thursday: Microsoft, the Redmond software giant, will announce its fourth-quarter and fiscal-year-end financial results. ... Other companies reporting results: Seattle online retailer Amazon.com, Seattle airline company Alaska Air Group, and Lilly Icos, the joint venture that produces the impotence drug Cialis.

Friday: Federal Way timber giant Weyerhaeuser will announce second-quarter results.

Sunday: Look for TimesWatch, a monthly review of regional economic indicators, in the Business section.

Copyright © 2004 The Seattle Times Company

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