This week’s economic data release

For the coming week investors will read report on August Construction spending, September employment level, jobless claims, and weekly petroleum inventories and auto sales.

Auto sales are likely to be sluggish at best and key truck and SUV sales will be watched closely by investors. July sales were at a record setting 20.8 million annual rate and for the year 2004 total sales were at 17 million units. Analysts expect total sales in August at annual rate below 17 million units.

Troubled American automakers have relied in the past on sales of gas guzzlers and heavy promotion to sell these trucks. Any weakness in sales of these units will bring another flood of worries of financial health for American manufacturers. GM is likely to report 25% market share in August, a decline from 28% a year ago.

August construction spending is likely to rise 0.4% after dropping 0.6% in July. Residential construction which forms app 80% of total spending is likely to rise again and deliver annual growth rate of 8% after finishing the year 2004 with 9% growth.

August wholesale inventories are expected to rise by 0.3% after declining by 0.1% in July for the first time since January 2004.

Labor Department is set to report on Oct 6th, initial jobless claims to fall from 356,000 to 350,000 for the week ending October 1st. September unemployment rate is expected to rise to 5.1% after dropping to 4.9% in May, a four-year low.

Wednesday’s weekly petroleum report will be closely watched for the inventories level of heating oil and other distillate supplies. For the week ending Sept 23rd crude inventories dropped by 2.4 million barrels and that of distillate fell by 0.5 million barrels and that of gasoline rose by 4.4 million barrels.

Earnings for the Week

Ruby Tuesday Inc. (RI: chart), restaurants owner and developer, is expected to report on Wednesday a Q1 of fiscal 2006 profit of 33 cents a share on revenue of $304.06 million , down vs. an actual profit of 44 cents a share for the comparable period last year. The company stock has declined 19 % over the last three months.

Solectron Corp. (SLR: chart), electronics manufacturing services operator, is expected to report on Wednesday Q4 net profit of 4 cents per share on revenue of $2.49 billion, breakeven with the comparable period last year. The company share has gained 3 % over the last three months.

Wolverine World Wide Inc. (WWW: chart), footwear manufacturer, is expected to post on Wednesday a Q3 net profit of 41 cents a share on revenue of $279.33 million, up vs. a net profit of 37 cents a share in the same time last year. The company stock has lost 14 % over the last three months.

Mosaic Co. (MOS: chart), crop nutrient and animal feed products producer, is expected to report on Tuesday a Q1 of fiscal 2006 profit of 23 cents per share. No data is available for the same quarter last year. The revenue estimate for the quarter is not stated. The company stock has gained 3 % over the last three months.

International Speedway Corp. (ISCA: chart), motorsports entertainment activities promoter, is expected to report on Thursday Q3 net profit of 65 cents per share on revenue of $166.22 million, up vs. a net profit of 60 cents per share in the same period last year. The company share has lost 7 % over the last three months.

Marriott International Inc. (MAR: chart), hotels operator, is expected to post on Thursday a quarterly net profit of 64 cents per share on revenue of $ 2.51 billion, up from a net profit of 55 cents per share in the same period last year. The company stock has lost 8 % over the last three months.

Costco Wholesale Corp. (COST: chart), warehouses operator, is expected to report on Thursday Q4 a net profit of 64 cents per share on revenue of $16.66 billion, up from a net profit of 62 cents per share for the year-ago period. The company stock has lost 4 % over the last three months.

Accenture Ltd. (ACN: chart), technology services and outsourcing services consultant, is expected to post on Thursday a Q4 net profit of 36 cents a share on revenue of $3.85 billion, up vs. a net profit of 30 cents a share for the comparable period last year. The company stock has gained 11 % over the last three months.

Yum! Brands Inc. (YUM: chart), quick service restaurants operator, is expected to post on Wednesday a Q3 net profit of 70 cents a share on revenue of $2.24 billion, up vs. a net profit of 61 cents a share in the year-ago period. The company stock has lost 7% over the last three months.