NEW YORK (CNN/Money) -
Investors will be looking at the economic data due out Thursday hoping for some insight into how aggressively the Federal Reserve will raise interest rates, as well as news about Accenture, Apple and H&R Block.
Alan Greenspan said Tuesday that the Federal Reserve could raise interest rates more aggressively if inflation or market conditions require, but economic growth readings have been mixed, providing traders little insight into what the Fed will do next.
Figures on import prices excluding oil, export prices excluding agriculture and initial jobless claims for the week ending June 6 will be released in the morning.
Analysts expect jobless claims to reach 335,000, down from 339,000, further evidence of a strengthening economy.
PPI and core PPI figures scheduled to be released Thursday have been delayed until at least June 15.
A U.S. House of Representatives committee passed a measure Wednesday that would block Accenture Ltd. from a $10 billion security contract to track foreign visitors because the consulting firm is based outside the U.S.
"It is simply wrong for the Department of Homeland Security to award an expatriate with the largest corporate contract to date," Connecticut Democratic Rep. Rosa DeLauro, a co-sponsor of the amendment, told Reuters.
Accenture (ACN: Research, Estimates) shares dropped 2.6 percent in active trade on the New York Stock Exchange, falling nearly 1 percent further after hours on Inet.
Apple (AAPL: Research, Estimates) announced late Wednesday it launched a faster Power Mac G5, its fastest-ever desktop computer, with processors that run as fast as 2.5 gigahertz, falling short of its earlier goal to offer a 3.0 gigahertz chip-based system by this month.
Shares dropped 0.5 percent in active trading on the Nasdaq.
Target announced it expects to log a $1 billion gain in its second or third quarter from its sale of Marshall Field's department stores for $3.24 billion. The after-tax gain from the deal, still pending government approvals, could exceed $1 per share, the retailer said.
Target (TGT: Research, Estimates) shares jumped 4.5 percent in after-hours trading on Inet, after closing down 1.2 percent on the NYSE.
Calpers, the biggest U.S. pension fund, said late Wednesday that it has placed Walt Disney Co., Royal Dutch/Shell, Emerson Electric Co. and Maytag Corp. on a "focus list" for poor financial and corporate governance performance.
Disney (DIS: Research, Estimates) shares edged lower 0.1 percent in active trade on the NYSE and Royal Dutch (RD: Research, Estimates) shares lost 0.8 percent.
Emerson Electric (EMR: Research, Estimates) lost 1.2 percent in active trade and Maytag (MYG: Research, Estimates) lost 0.5 percent.
Clear Channel Communications Inc. (CCU: Research, Estimates), the biggest owner of U.S. radio stations, agreed Wednesday to pay a $1.75 million fine to settle indecency complaints related to shock jock Howard Stern and other DJs.
The company also agreed to prevent future incidents of indecency. Shares edged higher 0.1 percent in active trade.
Earnings and forecasts
After the bell Wednesday, H&R Block (HRB: Research, Estimates) reported fourth-quarter earnings rose 16 percent on growing tax and mortgage operations, beating Wall Street estimates. Shares in the largest U.S. tax preparer dropped 1.4 percent in active trade on the NYSE, but rose 1.1 percent in after hours trading on Inet.
Voice over Internet phone services provider Net2Phone (NTOP: Research, Estimates) shares advanced 4.5 percent in after hours trading on Inet, after jumping 6.9 percent in active trade. The company reported late Wednesday a narrower loss in the third quarter of $462,000, or 1 cent a share, compared to a year ago loss of $9.3 million.
National Semiconductor (NSM: Research, Estimates) will report earnings during the day Thursday. Its stock dropped 5.4 percent Wednesday.
And Regis Corp., (RGS: Research, Estimates) the world's largest hair salon owner and franchiser, affirmed after the bell its profit outlook for the current year and fiscal 2005, helped by sales growth in outlets like Wal-Mart.
Chief Financial Officer Randy Pearce said sales at stores open at least a year are still expected to rise 1 percent to 1.5 percent.
-- from staff and wire reports
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