Consumer spending is likely to be in focus this week, as economic indicators such as the report on non-auto retail sales, which is due on Tuesday, and the release of figures on consumer prices, scheduled for Thursday, are expected to draw investors’ attention. Once again, investors will also be keeping an eye on oil prices and corporate earnings forecasts. Quarterly earnings reports are expected from leading retailers this week. Grocer Kroger Co. will announce results on Tuesday, along with software giant Oracle Corp. Top consumer electronics chain Best Buy Co. Inc. is due to release earnings figures on Wednesday, while rival Circuit City Stores Inc. plans to report on Friday.

National Semiconductor Corporation (NSM: chart) reported Thursday a huge rise in its quarterly earnings, bolstered by continuing strong demand for its products. The analog chipmaker announced a net profit of $117.7 million, or 31 cents per share, for the first quarter of fiscal 2005, in contrast to a net profit of $29.7 million, or 8 cents per share, for the same period a year ago. Revenue for the quarter ended August 29 soared to $548.0 million, a 29% increase from $424.8 million, last year. On average, analysts had been expecting first-quarter earnings of 26 cents a share, on revenue of $545.6 million. The Santa Clara, California-based company said that in the first quarter of fiscal 2005 it achieved a new record in gross margin of 55%, which compares to gross margin of 47% in the 2004 first quarter. For the second quarter, National Semiconductor projected a revenue decline of 8% to 10% from the first quarter, as it expects customers to continue adjusting backlog and inventories.

Company shares surged 12.33% on Thursday to $13.48. The stock added 12 cents to $13.60 in after-hours trading.

Take-Two Interactive Software, Inc. (TTWO: chart) announced after the bell Thursday that it swung to a quarterly loss from a prior-year profit, hurt by higher costs. The New York-based video game maker reported a third-quarter loss of $14.4 million, or 32 cents per share, against a profit of $5.7 million, or 13 cents per share, for the 2003 comparable period. The mean analysts’ forecast was for a loss of 30 cents per share in the quarter. Quarterly net sales climbed 6% to $160.9 million.

The stock shed 45 cents to close Thursday at $32.00. Company shares rose 2.81% to $32.90 in after-market trade.

Quiksilver, Inc. (ZQK: chart) of Huntington Beach, California, said Thursday that its third-quarter net income surged 64% to $19.5 million, or 32 cents per share, from net income of $11.9 million, or 21 cents per share, for the 2003 equivalent. The earnings of the clothing company outpaced the average analysts’ estimate of 29 cents per share. Quiksilver attributed the results to higher sales, which jumped 34% in the quarter to $337.9 million from $251.5 million, a year ago.

Company shares dropped 67 cents to $22.63 at market close Thursday. The stock was up 4.46% to $23.64 in the extended session.

Aber Diamond Corporation (ABER: chart) posted after market close Thursday a profit of $12.3 million, or 21 cents per share, for its fiscal second quarter, up from $5.8 million, or 11 cents per share, generated in the year-earlier period. The Toronto, Canada-based diamond miner cited improved quantity and quality of diamond production, as well as strong sales at its jewellery retailer Harry Winston, as main factors for the results. Sales for the second quarter totaled $84.5 million, compared with $52.3 million for the preceding quarter.

The stock closed Thursday up 86 cents, or 2.62%, at $33.71.

Jos. A. Bank Clothiers, Inc. (JOSB: chart) reported before market open Thursday a 75% surge in its quarterly earnings, as sales increased across all business segments. The men's clothing retailer said that it had a net profit of $3.53 million, or 25 cents per share, in its fiscal 2004 second quarter, up from a net profit of $1.99 million, or 14 cents per share, last year. The earnings topped by a penny a share the consensus forecast of analysts. For the quarter ended July 31, the company reported total sales of $82 million, a 27.3% jump from prior-year sales of $64.4 million. Hampstead, Maryland-based JoS. A. Bank said that same-store sales rose 10.2% in the second quarter of 2004, while combined catalog and internet sales advanced 17.9%.

Company shares shed 39 cents on Thursday to $27.62.

Empire Company Limited ((EMPA.TO)) reported Thursday higher quarterly profits, aided by solid gains at its supermarket chain, Sobeys Inc. The Stellarton, Nova Scotia-based owner of Canada’s second-largest grocery chain turned in net income of C$44.3 million ($34.5 million), or 67 Canadian cents a share, for its 2005 first quarter. For the year-ago period, net income was C$42.3 million, or 64 Canadian cents a share. Quarterly revenues advanced 9.2% to C$3.07 billion, driven by higher sales at Sobeys.

Empire shares inched down 2 Canadian cents to close Thursday at $26.33 on the Toronto Stock Exchange.

Alcoa Inc. (AA: chart) said Thursday that its third-quarter earnings will miss Wall Street’s expectations, due to plant closings and restructuring costs. The Pittsburgh, Pennsylvania-based world's No.1 aluminum producer projected a profit of 30 cents to 35 cents per share for its fiscal third quarter. Analysts were looking for earnings of 50 cents per share, on average. Alcoa added that weakness in the automotive, packaging and European end markets will also have a negative impact on profits.

The stock edged up 39 cents on Thursday to $33.29. Alcoa shares plunged 6.43% to $31.15 in after-hours trading.

Nucor Corporation (NUE: chart) of Charlotte, North Carolina, increased Thursday its quarterly earnings guidance, boosted by rising steel prices. The steelmaker forecast earnings of $4.40 to $4.60 per share for its third quarter, compared with an earlier outlook of $3.20 to $3.40 per share. The consensus forecast of analysts was for a third-quarter profit of $3.75 per share.

Nucor shares rose 7.45% to $88.43 at market close Thursday. The stock dropped 23 cents to $88.20 in extended trade.

Nokia Corporation (NOK: chart) on Thursday raised its third-quarter profit target to a range of 11 euro cents to 13 euro cents per share (13-16 U.S. cents), from a previous forecast of 8 euro cents to 10 euro cents per share (10-12 U.S. cents). The Finland-based world’s top maker of cell phones attributed the revised outlook to stronger market demand. Third-quarter revenue is expected to be between €6.8 billion and €6.9 billion ($8.3 billion to $8.4 billion).

The stock closed Thursday at $13.77, up $1.06, or 8.34%. Nokia shares gained 13 cents to $13.90 in after-market trade.