Retailers were the focus last week after reporting October same-store sales fell off a cliff as consumers pulled back spending amid fears over a global recession. In fact, last month was the weakest October in at least 39 years for retailers and a sobering peek at the holiday shopping season. This week, retailers will again take center stage as investors hear earnings from Wal-Mart Stores (WMT), Macy's Inc. (M), and Kohl's Corp. (KSS), among others.

Wal-Mart will report third-quarter results before the open on Thursday. The world's largest retailer is expected to post a 10% increase in earnings per share of $0.76 compared to a year ago. Sales are expected to rise 7.4% to $98.8 billion, according to Reuters estimates. Wal-Mart was the only retailer last week to report an increase in its October same-store sales and has been a stock favorite among investors. In the near term, the stock is mixed, widening twice, narrowing once and reversing once in the regular session following its last four earnings-driven pre-market moves. On August 14, Wal-Mart shares slid 0.5% in the pre-market after the company said sales would slow. The stock reversed course in the following session, ending higher by 0.4%.

On Wednesday, Applied Materials Inc. (AMAT) will report fourth-quarter results after the close of trading. The largest maker of semiconductor equipment is expected to report a 53% decline in earnings per share of $0.14 on sales of $1.9 billion. Shares got hit last week after Cisco Systems (CSCO) said that it saw a steep drop in orders in October. Applied Materials has a tendency to narrow its after-hours movement the next day following an evening earnings event. However, the near-term performance is mixed with two narrower moves and two wider moves in the last four quarters. On August 12, shares rose 4.4% after the close after the company's third-quarter results beat the Street. The stock added to the gain the following regular session ending up 4.7%.