NEW YORK -(Dow Jones)- They are two staples of American culture: advertising and television.
And next week, they will come together for the annual dog-and-pony show known as the "upfronts." That is where the major TV networks unveil their new shows, hawking big chunks of ad time for the fall TV season. The presentations come as TV ratings are softening, in part because of the increasing prevalence of digital video recorders and a rising tide of entertainment options on the Internet and other new media.
Even amid the uncertainty of the TV ad market, the upfronts will be love fests about the strength of network TV, and - for the snarky observers - a chance to assess odds for the next breakout hits and major flops.
OSI Holders In Going-Private Vote
OSI Restaurant Partners Inc. (NYSE:OSI) (OSI) management hopes to avoid another embarrassment when company shareholders vote this Tuesday on taking the company private. After coming up short on 'yes' votes last Tuesday, the Outback Steakhouse operator postponed the vote, hoping to scrape up more support.
Several of OSI's biggest institutional holders have been outspoken in their ire over the $40-a-share offer from private-equity giants Bain Capital and Catterton Management.
Wal-Mart Leads Off Results For Retailers
Earnings season kicks off for retailers, and Wal-Mart Stores Inc. (NYSE:WMT) (WMT) will lead the charge Tuesday. Actually, it isn't expected to be that much of a charge - the world's biggest retailer's per-share earnings are expected to rise just 8% following its worst monthly sales report ever this week. Wal-Mart (NYSE:WMT) didn't warn on first-quarter profits following the April report of a 3.5% same-store sales decline, but the company noted it continues to have trouble selling higher- margin goods like apparel and home furnishings.
Federated, JC Penney In Earnings Spotlight
Next week also will see reports from big mall anchors. Federated Department Stores Inc. (NYSE:FD) (FD), owner of Macy's and Bloomingdale's (NYSE:FD) , also had a disappointing April, and said May same-store sales are likely to decline. The company's Macy's chain is experiencing weakness, and not just at the 400 stores that were converted following its May Co. acquisition. Lower-priced J.C. Penney Co. (JCP) and Kohl's Corp. (NYSE:KSS) (KSS) also are slated to report next week, and analysts expect a somewhat better showing there. That is also the case with the upscale Nordstrom Inc. (NYSE:JWN) (JWN) chain.
Struggling Chrysler Seen Posting Another Loss
DaimlerChrysler AG (NYSE:DCX) (DCX) is expected to post a strong rise in first-quarter earnings on Tuesday as its troubled Chrysler Group division is poised to post another painful loss for the first three months of the year.
