US EQUITIES WEEK AHEAD: 3Q Earnings Reports, Retail Sale Data

Alcoa Inc.'s (AA) report Wednesday marks the unofficial start of third-quarter earnings season.

Major retailers, detailing September same-store sales Thursday, are expected to show growth, albeit from a very weak month a year earlier.

Bank of America Corp. (BAC) directors' committee is expected to start work next week on finding a replacement for Chief Executive Kenneth Lewis, who will retire at the end of the year.

 
   Alcoa, PepsiCo, Yum To Report 3Q Results 
 

Aluminum giant Alcoa, the first blue-chip company to report third-quarter results, is expected to post its fourth quarterly loss in a row Wednesday. Still, recent increases in aluminum prices give investors some hope they will find some positive news in the report.

PepsiCo Inc. (PEP), which reports Thursday, is seen posting slightly better results. The beverage and snack giant, which relies on the U.S. for more than half its revenue, expects cost savings from its $7.8 billion purchase of its two largest bottlers. Meanwhile, Yum Brands Inc. (YUM), which reports Tuesday, is likely to see flat results. The operator of the Taco Bell, Pizza Hut and KFC chains has been leaning on its international operations as growth remains sluggish in the U.S., but now even the formerly fast-growing China market is a question mark.

Also reporting Wednesday are warehouse retailer Costco Wholesale Corp. (COST) and Monsanto Co. (MON), the world's largest seed company by revenue. Fertilizer maker Mosaic Co. (MOS) posts results Monday and hotel chain Marriott International Inc. (MAR) on Thursday.

 
   Retailers To Report September Same-Store Sales 
 

Retailers will report September same-store sales Thursday, and the figures should benefit from an easy comparison with last year and a later Labor Day holiday this year, analysts said. Retailers posted a 2.9% sales decline in August as consumers remained thrifty, but a growing number of shoppers turned up at midpriced stores. Of the 30 retailers tracked by Thomson Reuters, 46% delivered better-than-expected results in August, compared with 38% in July.

 
   U.S. Trade Deficit Seen Wider In August 
 

The August U.S. trade deficit figure, due to be issued next Friday, is expected to widen slightly from July. It has been growing since June. The Institute for Supply Management releases its report on the services sector Monday; its report on manufacturing this week showed expansion was lower than expected. The government reports on August consumer credit Wednesday and wholesale inventories Thursday.

Among appearances by Federal Reserve officials: New York Fed President William Dudley speaks Monday in New York; Dallas Fed President Richard Fisher speaks Tuesday in San Francisco; Kansas City Fed President Thomas Hoenig speaks Tuesday in Denver; and Atlanta Fed President Dennis Lockhart speaks Thursday in Atlanta.

 
   Bank Of America Panel Starts Search For CEO 
 

A committee of Bank of America directors is expected to hire a search firm next week to help find a replacement for Chief Executive Kenneth Lewis, who surprised many this week with his decision to retire. Three of the six directors on the panel are former directors from FleetBoston Financial Group and close to BofA consumer head Brian Moynihan, considered a possible choice for the top job.

 
   G7 Finance Ministers, Central Bankers Meet 
 

Finance ministers, including U.S. Treasury Secretary Timothy Geithner, and central bankers of the Group of Seven leading industrial nations are meeting Saturday in Istanbul before the annual meetings of the International Monetary Fund and World Bank. The weak dollar is likely to be a focus of concern after IMF figures this week showed its share of total reserves has fallen to the lowest level since 1995 and the head of the World Bank warned the dollar's status as the world's leading reserve currency shouldn't be taken for granted.

 
   Senate Panel To Vote On Health-Care Reform 
 

A pivotal vote on health-care reform legislation is expected next week in the Senate Finance Committee. Panel members ended debate this week after voting on several amendments to a bill proposed by Chairman Max Baucus, D-Mont. Democratic leaders hope to bring health-overhaul legislation before the full Senate the week of Oct. 12.

 
   House Panel To Weigh Credit-Card Rules Date 
 

A House panel plans to meet next week on legislation moving up the effective date of new credit-card rules as lawmakers hope to press the issue on Capitol Hill. The House Financial Services Committee, chaired by Rep. Barney Frank, D-Mass., has scheduled a hearing Thursday on a measure to put credit-card rules passed earlier this year into effect Dec. 1. They were to take effect in February.

 
   China Markets Closed For 60th Anniversary Week 
 

Markets, banks, businesses and government offices will be closed in China through Thursday for the country's 60th anniversary celebrations. The weeklong National Day celebration began Thursday, with President Hu Jintao reviewing the troops on Tiananmen Square at the start of a giant 2 1/2-hour parade.

 
   Final Results Of Afghan Presidential Vote Likely 
 

The final tally in Afghanistan's contested presidential election is expected to come as soon as next week, U.N. Secretary-General Ban Ki-moon said. Amid widespread allegations the Aug. 20 poll was rigged in favor of incumbent President Hamid Karzai, Ban said he wouldn't recognize a winner until the official tally was in and election watchdogs had given their view. Based on preliminary results, Karzai has 55% of the votes declared valid, double the tally of rival Abdullah Abdullah.

 
   Conferences 
 

Among the significant conferences next week are the Brean Murray, Carret & Co. Consumer 1x1 Conference on Monday in New York; JMP Securities Healthcare Focus Conference on Monday and Tuesday in New York; William Blair & Company Emerging Growth Stock Conference on Monday and Tuesday in New York; and Johnson Rice Energy Conference from Monday through Wednesday in New Orleans.

-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357; [e-mail]

(Dow Jones Newswires staff contributed to this report.)