This Week: Cisco Systems and Deere results, housing starts
A look at some of the key business events and economic indicators upcoming this week:
Cisco Systems serves up its fiscal third quarter results Wednesday.
Wall Street expects the seller of networking equipment and services will report that its earnings and revenue increased in the February-April period versus a year earlier. That would echo the company’s results in the previous two quarters.
U.S. new residential construction is running below last year’s pace.
Housing starts fell 9.7% through the first three months of this year. The trend makes it more challenging for would-be homebuyers, given the chronic shortage of homes on the market. Economists expect that the Commerce Department will report Thursday that home construction slowed again last month.
Housing starts, monthly, seasonally adjusted annual rate:
April (est.) 1,220,000
TRADE WAR TROUBLES
The trade dispute between the U.S. and China has been costly to American farmers.
And that’s led to farmers pulling back on investing in the kind of heavy equipment made by Deere & Co. The company cited rising costs and anxious farmers when it reported a profit shortfall for its fiscal first quarter. Deere reports fiscal second quarter results Friday.