According to analysts, the last two weeks of August are the slowest time of the year and it seems that this year’s period will be even slower as the Republican National Convention begins in New York on Monday and many traders are believed to have planned to take the week off. There are no initial public offerings scheduled for this week as the IPO market starts its annual summer holiday. The week’s focus is expected to be once again on crude oil prices, although market strategists do not expect any significant changes. Last week oil retreated from its record high of nearly $50 and settled at $43.18 per barrel for October delivery in trading in New York on Friday. The market’s attention will also be focused on the jobs report for August. The U.S. Labor Department will release the employment report on Friday. The consensus estimate is for a job growth of 160,000 jobs.

Among the companies to report quarterly earnings this week are grocer Albertsons Inc., which will announce results on Tuesday, jeweler Zale Corp. and auto parts retailer CSK Auto Corp.

Piedmont Natural Gas Company, Inc. (PNY: chart) posted Friday a smaller quarterly loss, boosted by its acquisition of North Carolina Natural Gas last year. The Charlotte, North Carolina-based gas distributor announced a loss of $8.2 million, or 21 cents a share, for its fiscal third quarter, against a loss of $9.7 million, or 29 cents a share, for the 2003 comparable period. The results surpassed analysts’ projections for a loss of 40 cents a share, on average. Revenue for the quarter jumped to $215 million from $140 million, a year ago.

Company shares gained 49 cents to $42.92 at market close Friday. The stock dropped 4 cents to $42.88 in after-hours trading.

Royal Bank of Canada (RY: chart) said Friday that its quarterly earnings slipped 5% from a year ago, hurt by low interest rates and increased expenses. The Toronto, Canada-based bank posted a net profit of C$746 million, or C$1.12 per share, for the third quarter of fiscal 2004, down from C$783 million, or C$1.16 per share, generated in the prior-year period. Quarterly revenue climbed 2.8% to $4.57 billion from $4.45 billion. Royal said competitive pricing pressures continue to compress deposit spreads.

The stock dipped 4.50% to close Friday at $46.05 on the New York Stock Exchange.

ACM Income Fund Inc. (ACG: chart) reported Friday that it swung to a loss of $131.3 million, or 58 cents a share, in its fiscal second quarter, compared with a profit of $127.9 million, or 56 cents a share, a year earlier. The New York-based closed-end investment company said net assets dropped to $1.78 billion in the quarter from $1.96 billion, a year ago.

The stock inched up 4 cents on Friday to $8.10. Company shares slid 1.98% to $7.94 in after-market trade.

The Sports Authority, Inc. (TSA: chart) announced after market close Thursday a 28% jump in its quarterly earnings, bolstered by surging sales. The US top sporting goods chain, which merged with Gart Sports in 2003, said that it had net income of $6.7 million, or 25 cents a share, in the second quarter of fiscal 2004, compared with net income of $5.3 million, or 42 cents a share, a year ago. Excluding merger-related costs, earnings came to $11.9 million, or 45 cents a share, for the quarter ended July 31, against $6.3 million, or 50 cents a share, in 2003. Quarterly sales soared to $605.0 million from $267.5 million. Analysts were looking for a profit before items of 44 cents a share on sales of $601 million. Prior-year results reflect Gart Sports Company on a stand-alone basis. Adjusted combined earnings for the year-ago period were 22 cents per share. Englewood, Colorado-based Sports Authority reported earnings of $10.8 million, or 41 cents a share, for the first six months of 2004, compared with $9.4 million, or 75 cents a share, for the same period last year.

LTX Corporation (LTXX: chart) said Thursday that it swung to a quarterly profit from a prior-year loss, driven by solid growth in sales. The Westwood, Massachusetts-based maker of semiconductor test equipment announced net earnings of $8.9 million, or 14 cents per share, for its fiscal fourth quarter, rebounding from a loss of $81.5 million, or $1.61 per share, in the 2003 comparable period. The results were a penny a share ahead of the average analysts estimate. Sales in the quarter swelled to $80.4 million from $33.7 million, last year.

C&D Technologies, Inc. (CHP: chart) of Blue Bell, Pennsylvania, reported Thursday that its second-quarter net profit slid 10% to $3.2 million, or 13 cents per share, from $3.6 million, or 14 cents per share, generated in the same period a year earlier. The maker of electrical power storage and conversion products blamed the profit drop on increased lead prices. Sales in the quarter improved 16% to $94.4 million, helped by acquisitions.

Catalyst Semiconductor, Inc. (CATS: chart) posted Thursday quarterly earnings that more than doubled from a year ago, aided by an increase in higher margin sales and lower cost inventories. The Sunnyvale, California-based chipmaker turned in net income of $2.2 million, or 12 cents per share, for its fiscal 2005 first quarter, up from net income of $920,000, or 5 cents per share, for the 2004 corresponding quarter. The earnings matched Wall Street expectations. Quarterly revenues rose to $16.7 million from $13.8 million.

Krispy Kreme Doughnuts, Inc. (KKD: chart) of Winston-Salem, North Carolina, said Thursday that its second-quarter net income tumbled 56% to $5.8 million, or 9 cents per share, compared with year-earlier net income of $13 million, or 21 cents per share. The doughnut chain said results were partially due to the popularity of low-carbohydrate diets. The consensus forecast of analysts was for a profit of 22 cents a share. Total sales for the quarter advanced 11.5% to $177.4 million.