Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Government data and corporate earnings reports will offer details on recent retail sales as well as inflation next week.
North America will move its clocks ahead one hour on Sunday morning to benefit from more sunlight later in the day as warmer weather arrives.
And two of the biggest U.S. media personalities, John Malone and Barry Diller, go to court over whether to
split Diller's company, IAC/InterActiveCorp. (IACI).
Retailers Report Results
More evidence of a slowdown in consumer spending is
likely next week as more retailers report quarterly
results. Among them, Foot Locker Inc. (FL) on Monday;
Dick's Sporting Goods Inc. (DKS) on Tuesday; American
Eagle Outfitters Inc. (AEO), Men's Wearhouse Inc. (MW)
and Talbots Inc. (TLB) on Wednesday; and AnnTaylor
Stores Corp. (ANN) next Friday.
Also reporting next week are home builder Hovnanian
Enterprises Inc. (HOV) and private equity firm
Blackstone Group LP (BX) on Monday, supermarket giant
Kroger Co. (KR) on Tuesday and German auto maker
Volkswagen AG (VLKAY) on Thursday.
Data On Inflation, Retail Sales Due
Government reports will shed light on inflation and
retail sales next week.
The Department of Commerce details the U.S. trade
balance in January on Tuesday and releases data on
February retail sales and January business inventories
Thursday.
The Consumer Price Index, the most widely cited
indicator of inflation, for February will be released
next Friday.
Set Your Clocks
Many parts of the Northern Hemisphere will "spring
forward" as they return to Daylight Saving Time over
the next few weekends.
Countries in North America make the change early
Sunday morning, when clocks move forward an hour.
In the European Union and the rest of Europe, clocks
spring forward one hour March 30.
In the Southern Hemisphere, some countries that
observe daylight saving or summer time will be going
back one hour to Standard Time on April 6.
Malone, Diller Go To Court
A court battle between two of the country's biggest
media personalities kicks off Monday, as Liberty Media
Corp.'s (LINTA) John Malone seeks to stop Barry
Diller's plans to split his IAC/InterActiveCorp.
(IACI) into five pieces, a business shift that
threatens Malone's majority voting stake in IAC.
Diller recently acknowledged, according to a Variety
report, that he may lose control of IAC in the
Delaware trial.
Media, Marketing Execs Meet
Bear Stearns will host executives from the biggest
media and marketing companies at its annual conference
in Palm Beach, Fla. Among those scheduled to present
at the event starting Sunday are News Corp. (NWS)
Chief Executive Rupert Murdoch, Viacom Inc. (VIA) CEO
Philippe Dauman, Walt Disney Co. (DIS) CEO Bob Iger,
Time Warner Inc. (TWX) CEO Jeff Bewkes and CBS Corp.
(CBS) CEO Leslie Moonves. McGraw-Hill Cos. (MHP) also
hosts a media conference in New York on Wednesday and
Thursday.
West Coast Style
The fashion world turns its attention to Los Angeles,
where designers such as Kelly Nishimoto and Paco
Rabanne display their latest creations for fall.
The city's fashion week, which runs through March 14,
also will showcase clothes designed by celebrities,
including Nicky Hilton, MTV reality show star Lauren
Conrad and the girl group the Pussycat Dolls, who have
a risque lingerie line.
On To Wyoming, Mississippi
Sens. Barack Obama and Hillary Clinton continue their
battle for delegates Saturday in Wyoming, which holds
Democratic caucuses. Both parties have primaries in
Mississippi on Tuesday, but Sen. John McCain has
clinched the Republican nomination. Obama is favored
to win both contests.
Sovereign Funds' Investments
When EU leaders gather Thursday in a two-day summit in
Brussels, several countries, particularly Germany, are
expected to push for more extensive restrictions on
sovereign-fund investments.
The European Commission says EU countries should agree
on a common approach to increasing "transparency,
predictability and accountability" among sovereign
wealth funds but has warned that legislation at a
national level could fragment the EU economy.
Other likely discussion topics are the strong euro and
the financial-market turmoil stemming from bad
subprime mortgages in the U.S.
Conferences
Among the significant conferences next week are the
Sandler O'Neill & Partners West Coast Financial
Services Conference from Monday through Wednesday in
San Francisco, Banc of America Securities Consumer
Conference from Tuesday through Thursday in New York,
American Bankers Association Wealth Management & Trust
Conference from Wednesday through Friday in San Diego,
Deutsche Bank Securities Hospitality & Gaming
Conference on Wednesday in Boston, Information
Management Network 12th Annual Summit on CDOs, Credit
Derivatives & Structured Credit Products Conference on
Wednesday and Thursday in New York, and The Wall
Street Journal Environmental Capital Conference from
Wednesday through Friday in Santa Barbara, Calif.
-By Kathy Shwiff, Dow Jones Newswires; 201-938-5975;
kathy.shwiff@dowjones.com
(Dow Jones Newswires staff contributed to this
report.)
(END) Dow Jones Newswires
March 07, 2008 13:32 ET (18:32 GMT)
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