The Week Ahead: Fed meeting, economic data, earnings reports

With a mountain of news items in store, next week promises to be just as exciting as the last. And the markets no less capricious.
The biggest story of the week (that we know of) will be the Fed rate cut decision on Tuesday. Consensus on the Street is that the federal funds rate will be cut at least 0.75% down to 2.25%, with some firms such as Citigroup expecting a full percentage point cut. Just a few days ago, on Tuesday as the markets rallied for their biggest one-day gains in five years, analysts had lowered their expectations to a half-point cut. The credit crisis at Bear Stearns quickly changed sentiment on Friday.
Bear and other investment bankers including Goldman Sachs, Lehman Brothers and Morgan Stanley will report earnings this week, giving a clearer indication of just how badly they’ve been damaged by sub-prime and the lack of credit confidence. And at least one of them (BSC) is likely to get taken out before the week is through.
The fact that US markets are closed on Good Friday could be a blessing.
On the good news front, the long-anticipated Visa IPO will price on Tuesday for Wednesday trading. The credit card transaction processor is expected to raise as much as $19 billion on 440 million shares priced between $37 and $42 in what could be the largest IPO in US history.

Monday

Industrial production
Capacity utilization

HWCC $14.44 premarket
analysts (5) expect 33 cents on $90 mil 52wk Range: 11.22 - 31.19
FTK $21.24 premarket
analysts (5) expect 19 cents on $43.4 mil 52wk Range: 11.51 - 55.00
SDTH $9.38 premarket
analyst (1) expects 14 cents on $27.6 mil 52wk Range 3.55 - 15.57
EXM $27.37 after hours
analysts (6) expect $1.45 on $55.2 mil 52wk Range: 15.81 - 81.99
WPCS $5.59 after hours
analysts (2) expect 6 cents on $25 mil company pre-warned 5 cents
52wk Range: 5.50 - 14.25
BSC $30.00 after hours
consensus estimates (14) have fallen to 84 cents on $1.35 billion but the ranges are very wide 52wk Range: 26.85 - 159.36

Tuesday

FOMC meeting
Producer Price Index
Housing starts

GS $156.86 premarket
analysts (18) expect $2.58 on $7.47 biliion 52wk Range: 155.00 - 250.70
LEH $39.26 premarket (unconfirmed reports that it’s been moved up to Monday)
consensus estimates (16) have fallen to 72 cents on $3.35 billion within wide ranges
FMCN $43.85 after hours
analysts (8) expect 48 cents on $168 mil 52wk Range: 34.57 - 66.30

Wednesday

Visa IPO

MS $39.55 premarket
analysts (18) expect $1.03 on $7.19 bil 52wk Range: 38.18 - 90.95
ALOT $9.64 premarket
Astro Med has no analyst coverage and is thinly traded 52wk Range: 8.31 - 12.12
CHL $67.72 after hours(?)
analyst (1?) expects 71 cents on $12.64 bil 52wk Range:43.82 - 104.00
PAL $7.36 after hours
no analyst coverage 52wk Range: 3.28 - 12.36

Thursday

Weekly jobless claims
Quadruple witching

WOR $16.69 premarket
analysts (8) expect 25 cents on $700 mil 52wk Range: 13.51 - 26.46
SMOD $5.89 after hours
analysts (8) expect 18 cents on $180.3 mil 52wk Range: 5.67 - 15.89

Good Friday – Markets Closed