Earnings Preview for Mar 16 - 20
Guess, Inc. (GES - Analyst Report) could top expectations. FedEx Corporation (FDX - Analyst Report) could disappoint. Adobe Systems (ADBE - Analyst Report), Nike (NKE - Analyst Report) and Oracle (ORCL - Snapshot Report) will also report.
The earnings calendar is limited this week with just 93 companies confirmed to report. First-quarter earnings season will not "officially" start until April.
We will, however, get our first glimpse at first-quarter earnings as companies with fiscal quarters ending in February start to release results. Among these early reporters are Adobe Systems (ADBE - Analyst Report), FedEx (FDX - Analyst Report), Nike (NKE - Analyst Report) and Oracle (ORCL - Snapshot Report).
Excluded from the list are the investment banks. Bear Stearns and Lehman are obviously gone. Goldman Sachs (GS - Analyst Report) and Morgan Stanley (MS - Snapshot Report), which had reported quarterly results last March, both told me their earnings reports would not be issued until the second-half of April. (Specific dates have not been announced.)
The Fed will hold a 2-day meeting starting on Tuesday with the statement released around 2:15 ET on Wednesday afternoon. Look for additional announcements about the Fed's plan to expand its balance sheet by purchasing various types of debt.
- Monday: February industrial production and capacity utilization, March Empire State manufacturing index
- Tuesday: February housing starts, February building permits, February Producer Price Index (PPI)
- Wednesday: February Consumer Price Index (CPI), fourth-quarter current account balance, weekly crude inventories, Fed statement
- Thursday: February Leading Indicators, weekly initial jobless claims
- Friday: February Phil Fed survey
Fed Governor Daniel Tarullo will testify about bank regulations in front of a Senate committee on Thursday, Mar 19. Additionally, Fed Chairman Ben Bernanke will speak at a community bankers' convention on Friday, Mar 20. His speech is entitled, "The Financial Crisis and Community Banking".
Many traders will be looking to see if stocks can keep their upward momentum. The major indexes are not overbought or near resistance, 2 positive factors.
That said, wildcard events (e.g. threats of corporate bankruptcies, initiatives from the Obama administration, credit rating downgrades, bank announcements, etc.) still remain the primary drivers of market sentiment.
We're coming off a good week and let's hope the bear market rally continues. Just understand, however, that the punch bowl is running dry.
Have a happy St. Patrick's Day and remember to wear something green on Tuesday!
Companies That Could Issue Positive Earnings Surprises
The big issue with GES, however, could be its guidance. Brokerage analysts cut their fiscal 2010 expectations last week, causing the consensus earnings estimate to fall to $1.98. Therefore, traders may want to use caution ahead of the earnings report.
Guess is scheduled to report on Tuesday, Mar 17, after the close of trading.
Companies That Could Issue Negative Earnings Surprises
FedEx Corporation (FDX - Analyst Report) has missed once in the past 3 quarters. Ahead of the company's fiscal third-quarter report, 6 brokerage analysts have cut their profit projections. The negative revisions sent the consensus earnings estimate 3 cents lower to 47 cents per share. The most accurate estimate is more bearish at 44 cents per share. FedEx is scheduled to report on Thursday, Mar 19, before the start of trading.
Charles Rotblut, CFA is the senior market analyst for Zacks.com. He can be reached at crotblut@zacks.com.
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Earnings Calendar
Here is a list of companies that we have confirmed will report during the week of Mar 16 - 201. Prices are as of Thursday's, Mar 12, market close.
| Company | Ticker | Zacks Consensus Estimate | Year Ago Actual | Last Qtr Surprise | Report Date | Report Time | Price |
| Asbury Auto Grp | ABG - Snapshot Report | ($0.04) | $0.39 | (19.4%) | 3/16/2009 | BTO | $4.13 |
| Biolase Tech | BLTI - Snapshot Report | ($0.05) | ($0.01) | (216.7%) | 3/16/2009 | AMC | $0.79 |
| Care Investment | CRE - Snapshot Report | $0.17 | $0.18 | (76.5%) | 3/16/2009 | BTO | $9.03 |
| Carmike Cinema | CKEC - Snapshot Report | ($0.17) | ($0.39) | 0.0% | 3/16/2009 | AMC | $2.54 |
| China Nepstar | NPD - Snapshot Report | $0.05 | $0.08 | (20.0%) | 3/16/2009 | BTO | $4.25 |
| China Public Sc | CPBY - Snapshot Report | $0.14 | N/A | 6.3% | 3/16/2009 | BTO | $2.96 |
| Cumulus Media | CMLS - Analyst Report | $0.09 | ($0.04) | 27.3% | 3/16/2009 | BTO | $2.22 |
| Cypress Biosci | CYPB - Analyst Report | ($0.06) | $0.08 | (22.2%) | 3/16/2009 | BTO | $8.93 |
| Dana Holding Cp | DAN - Snapshot Report | ($1.43) | ($1.71) | (5066.7%) | 3/16/2009 | N/A | $0.85 |
| Daystar Tec Inc | DSTI - Snapshot Report | ($0.22) | ($0.35) | (5.3%) | 3/16/2009 | N/A | $1.82 |
| Ediets.Com Inc | DIET - Snapshot Report | ($0.13) | ($0.11) | (18.2%) | 3/16/2009 | AMC | $2.54 |
| Education Rlty | EDR - Snapshot Report | $0.17 | $0.31 | (200.0%) | 3/16/2009 | AMC | $5.03 |
| Emeritus Corp | ESC - Snapshot Report | ($0.57) | ($0.58) | (1.8%) | 3/16/2009 | AMC | $9.21 |
| Englobal Corp | ENG - Snapshot Report | $0.19 | $0.05 | 0.0% | 3/16/2009 | BTO | $3.42 |
| Flanders Corp | FLDR - Snapshot Report | $0.00 | N/A | 400.0% | 3/16/2009 | BTO | $4.53 |
| Flotek Indu Inc | FTK - Snapshot Report | $0.27 | N/A | (3.2%) | 3/16/2009 | BTO | $3.34 |
| Gastar Expl Ltd | GST | ($0.01) | ($0.01) | (100.0%) | 3/16/2009 | AMC | $0.66 |
| Gse Systems Inc | GVP - Snapshot Report | $0.01 | $0.03 | 200.0% | 3/16/2009 | AMC | $6.30 |
| Houston Wire&Cb | HWCC - Snapshot Report | $0.15 | $0.32 | 2.8% | 3/16/2009 | BTO | $8.28 |
| Idt Corp-Cl B | IDT - Snapshot Report | ($0.96) | ($2.34) | 35.3% | 3/16/2009 | N/A | $0.31 |
| Jamba Inc | JMBA - Snapshot Report | ($0.16) | ($0.26) | (1100.0%) | 3/16/2009 | AMC | $0.58 |
| Kohlberg Capitl | KCAP - Snapshot Report | $0.29 | $0.40 | (2.9%) | 3/16/2009 | N/A | $3.58 |
| Medivation Inc | MDVN - Analyst Report | ($0.18) | ($0.34) | (19.3%) | 3/16/2009 | AMC | $19.23 |
| Nn Inc | NNBR - Snapshot Report | ($0.15) | $0.26 | (10.0%) | 3/16/2009 | BTO | $1.88 |
| Orbcomm Inc | ORBC - Analyst Report | ($0.01) | $0.03 | 33.3% | 3/16/2009 | BTO | $2.00 |
| Orchid Cellmark | ORCH - Analyst Report | ($0.11) | $0.01 | (150.0%) | 3/16/2009 | BTO | $0.47 |
| Patriot Cap Fdg | PCAP - Snapshot Report | $0.27 | $0.31 | 10.3% | 3/16/2009 | BTO | $3.27 |
| Physicians Form | FACE - Analyst Report | $0.12 | $0.33 | 1100.0% | 3/16/2009 | AMC | $2.69 |
| Plug Power Inc | PLUG - Snapshot Report | ($0.17) | ($0.20) | 11.1% | 3/16/2009 | BTO | $0.96 |
| Pmi Group | PMI - Analyst Report | ($1.52) | ($12.51) | 32.0% | 3/16/2009 | BTO | $1.79 |
| Poniard Pharmac | PARD - Snapshot Report | ($0.38) | ($0.28) | (9.1%) | 3/16/2009 | AMC | $2.50 |
| Providence Svc | PRSC - Snapshot Report | $0.06 | $0.35 | (211.1%) | 3/16/2009 | BTO | $2.09 |
| Radnet Inc | RDNT - Snapshot Report | $0.01 | ($0.12) | 200.0% | 3/16/2009 | BTO | $3.41 |
| Sauer-Danfoss | SHS - Snapshot Report | ($0.43) | $0.26 | (12.0%) | 3/16/2009 | AMC | $8.85 |
| Sina Corp | SINA - Analyst Report | $0.42 | $0.29 | 2.9% | 3/16/2009 | AMC | $21.85 |
| Skillsoft Plc | SKIL - Snapshot Report | $0.08 | $0.07 | 10.0% | 3/16/2009 | AMC | $6.73 |
| Sonic Automotve | SAH - Snapshot Report | $0.03 | $0.68 | (26.5%) | 3/16/2009 | BTO | $2.23 |
| Staar Surgical | STAA - Snapshot Report | ($0.04) | ($0.15) | (14.3%) | 3/16/2009 | AMC | $2.25 |
| Star Bulk Carrs | SBLK - Snapshot Report | $0.38 | $0.05 | (20.0%) | 3/16/2009 | AMC | $2.35 |
| Sterling Constr | STRL - Snapshot Report | $0.32 | $0.39 | 25.7% | 3/16/2009 | BTO | $19.69 |
| Stonemor Ptnrs | STON - Snapshot Report | $0.04 | ($0.13) | (82.4%) | 3/16/2009 | N/A | $14.25 |
| Unigene Laborat | UGNE | ($0.02) | ($0.02) | 50.0% | 3/16/2009 | AMC | $0.58 |
| Us Home Sys Inc | USHS - Snapshot Report | $0.09 | ($0.05) | (33.3%) | 3/16/2009 | AMC | $1.73 |
| Aar Corp | AIR - Analyst Report | $0.47 | $0.48 | 0.0% | 3/17/2009 | AMC | $19.71 |
| Adobe Systems | ADBE - Analyst Report | $0.38 | $0.42 | 5.9% | 3/17/2009 | AMC | $20.89 |
| Anthracite Cap | AHR - Snapshot Report | $0.24 | $0.31 | N/A | 3/17/2009 | BTO | $1.77 |
| Astro-Med Inc | ALOT | $0.03 | $0.12 | N/A | 3/17/2009 | AMC | $6.59 |
| Canadian Solar | CSIQ - Analyst Report | ($0.30) | $0.20 | (48.3%) | 3/17/2009 | BTO | $5.59 |
| Cenveo Inc | CVO - Snapshot Report | $0.35 | $0.53 | 11.4% | 3/17/2009 | N/A | $4.00 |
| Clean Diesel | CDTI | ($0.25) | ($0.38) | (26.1%) | 3/17/2009 | N/A | $2.00 |
| Cryptologic Ltd | CRYP - Snapshot Report | ($0.18) | $0.36 | (1400.0%) | 3/17/2009 | BTO | $5.20 |
| Factset Resh | FDS - Analyst Report | $0.70 | $0.62 | 9.4% | 3/17/2009 | BTO | $41.05 |
| Guess Inc | GES - Analyst Report | $0.52 | $0.59 | 9.5% | 3/17/2009 | N/A | $17.42 |
| Icop Digital | ICOP | ($0.21) | ($0.26) | (29.4%) | 3/17/2009 | N/A | $1.05 |
| Omnova Solution | OMN - Snapshot Report | ($0.02) | ($0.07) | (66.7%) | 3/17/2009 | BTO | $0.80 |
| Ultrapetrol Ltd | ULTR - Snapshot Report | $0.22 | $0.10 | 4.6% | 3/17/2009 | AMC | $2.76 |
| Zhongpin Inc | HOGS | $0.27 | $0.19 | 13.33% | 3/17/2009 | N/A | 10.53 |
| Actuant Corp | ATU - Snapshot Report | $0.14 | $0.42 | 2.3% | 3/18/2009 | BTO | $17.81 |
| Charming Shoppe | CHRS - Snapshot Report | ($0.37) | ($0.20) | 41.7% | 3/18/2009 | BTO | $1.18 |
| Chinaedu Cp-Adr | CEDU - Snapshot Report | $0.02 | $0.09 | (16.7%) | 3/18/2009 | AMC | $5.29 |
| Cintas Corp | CTAS - Analyst Report | $0.48 | $0.53 | (14.6%) | 3/18/2009 | AMC | $24.32 |
| Clarcor Inc | CLC - Snapshot Report | $0.31 | $0.35 | 3.7% | 3/18/2009 | AMC | $31.84 |
| Darden Restrnt | DRI - Analyst Report | $0.68 | $0.80 | 46.7% | 3/18/2009 | N/A | $28.12 |
| Herman Miller | MLHR - Snapshot Report | $0.23 | $0.65 | 1.7% | 3/18/2009 | AMC | $12.26 |
| Ihs Inc-A | IHS - Snapshot Report | $0.41 | $0.34 | 27.3% | 3/18/2009 | AMC | $45.04 |
| Linktone Ltd | LTON - Analyst Report | ($0.05) | ($0.08) | N/A | 3/18/2009 | AMC | $1.26 |
| Luby'S Inc | LUB - Snapshot Report | ($0.04) | $0.00 | 11.1% | 3/18/2009 | AMC | $5.00 |
| Nike Inc-B | NKE - Analyst Report | $0.81 | $0.92 | 3.9% | 3/18/2009 | AMC | $47.60 |
| Oracle Corp | ORCL - Snapshot Report | $0.31 | $0.30 | 3.0% | 3/18/2009 | AMC | $17.84 |
| Presstek Inc | PRST - Snapshot Report | $0.00 | ($0.03) | (33.3%) | 3/18/2009 | BTO | $2.51 |
| Somanetics Corp | SMTS - Snapshot Report | $0.09 | $0.07 | 8.7% | 3/18/2009 | BTO | $16.57 |
| Towerstream Cp | TWER - Snapshot Report | ($0.09) | ($0.08) | 10.0% | 3/18/2009 | N/A | $1.05 |
| Barnes & Noble | BKS - Snapshot Report | $1.48 | $1.69 | (31.3%) | 3/19/2009 | BTO | $18.29 |
| Blockbuster Inc | BBI - Snapshot Report | $0.25 | $0.26 | 52.9% | 3/19/2009 | AMC | $1.47 |
| Cato Corp A | CTR | $0.11 | ($0.06) | 200.0% | 3/19/2009 | BTO | $14.85 |
| Childrens Place | PLCE - Snapshot Report | $0.69 | $0.70 | (1.2%) | 3/19/2009 | BTO | $20.00 |
| China Sunergy | CSUN - Snapshot Report | ($0.35) | ($0.06) | (80.0%) | 3/19/2009 | BTO | $3.16 |
| Cost Plus Inc | CPWM - Analyst Report | $0.25 | $0.43 | (2.7%) | 3/19/2009 | AMC | $0.92 |
| Cra Intl Inc | CRAI - Analyst Report | $0.39 | $0.28 | 21.7% | 3/19/2009 | BTO | $22.09 |
| Fedex Corp | FDX - Analyst Report | $0.47 | $1.26 | 0.0% | 3/19/2009 | BTO | $56.75 |
| Icx Tech Inc | ICXT - Snapshot Report | $0.00 | ($0.39) | 26.7% | 3/19/2009 | AMC | $6.00 |
| Neogen Corp | NEOG - Snapshot Report | $0.21 | $0.18 | 4.0% | 3/19/2009 | BTO | $24.60 |
| New York & Co | NWY - Snapshot Report | ($0.18) | $0.18 | (30.0%) | 3/19/2009 | BTO | $2.20 |
| Palm Inc | PALM - Snapshot Report | ($0.66) | ($0.22) | (100.0%) | 3/19/2009 | AMC | $7.83 |
| Perry Ellis Int | PERY - Snapshot Report | $0.00 | $0.65 | 6.4% | 3/19/2009 | BTO | $4.52 |
| Progress Softwa | PRGS - Snapshot Report | $0.31 | $0.33 | 77.8% | 3/19/2009 | BTO | $17.57 |
| Shoe Carnival | SCVL - Snapshot Report | ($0.09) | $0.09 | (36.4%) | 3/19/2009 | BTO | $8.90 |
| Stein Mart Inc | SMRT - Snapshot Report | ($0.41) | ($0.30) | (70.0%) | 3/19/2009 | BTO | $1.27 |
| Ticketmaster En | TKTM - Snapshot Report | $0.29 | N/A | (15.0%) | 3/19/2009 | AMC | $6.94 |
| Tsakos Egy Navg | TNP - Snapshot Report | $0.80 | $0.56 | 2.9% | 3/19/2009 | BTO | $19.10 |
| Winnebago | WGO - Snapshot Report | ($0.30) | $0.10 | (57.1%) | 3/19/2009 | BTO | $6.00 |
| Gol Linhas-Adr | GOL - Analyst Report | ($0.06) | ($0.04) | (340.0%) | 3/20/2009 | AMC | $4.76 |
| Kirklands Inc | KIRK - Analyst Report | $0.52 | $0.22 | (13.3%) | 3/20/2009 | BTO | $2.56 |
BTO = Before The Market Open, AMC = After The Market Close
1Some of the companies listed in the earnings calendar may not be in the Zacks Rank universe.