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The market looks to rebound this morning. Home Depot (HD) announced that it’s expanding its share repurchase program by $2 billion to a total of $14 billion. The stock retreated after reporting strong earnings but weaker-than-expected sales.

UnitedHealth (UNH) should open lower after announcing that it’s been subpoenaed by the U.S. attorney’s office for the Southern District of New York.

Today is also D-Day. Dell (DELL) will report its earnings for its third quarter. The company recently lowered guidance to 33 cents a share. I’ll be curious if the company offers a forecast for the fourth quarter (ending in July). Wall Street’s current outlook is for 34 cents a share.

The Burger King "King" (BKC) rang the opening bell at the NYSE. The fast food chain went public today. The offering was price at $17, the high end of the range. Interestingly, Chipotle (CMG) is having a secondary offering. The company had one of the best IPOs of the year.

Posted by edelfenbein at May 18, 2006 9:36 AM