"To the extent that consumers end up either using the majority of (the refund) to pay down debt or simply to save for a rainy day, obviously the economic impact is going to be a lot less, " said Michael Gregory of Lehman Brothers.

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The company today also announced that Gregory Clark will take over as CEO from Michael Borman, effective September 15.

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"Michael Maguire has got them playing well, " added Gregory.

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All seven astronauts aboard died: Commander Francis Scobee, Pilot Michael Smith, Mission Specialist Ellison Onizuka, Mission Specialist Judith Resnik, Mission Specialist Ronald McNair, Payload Specialist Gregory Jarvis and McAuliffe.

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