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First-quarter earnings season nears an end with Hewlett-Packard (HPQ - Analyst Report), Home Depot (HD - Analyst Report), Lowe's (LOW - Snapshot Report) and Target (TGT - Snapshot Report) reporting. Joining them will be 15 other members of the S&P 500. In total, we have confirmed reports from 124 companies.
There is not much on the economic calendar, though the minutes from the April Fed meeting will be released on Wednesday afternoon (2 p.m.).
- Tuesday: April building permits and housing starts
- Wednesday: April Fed minutes, weekly crude inventories
- Thursday: Phili Fed survey, April Leading Indicators, weekly initial jobless claims
Fed Chairman Ben Bernanke will deliver a commencement speech at the Boston College Law School on Friday afternoon. Vice Chairman Donald Kohn will speak at a conference about fiscal policy in Princeton, N.J. on Saturday afternoon.
Volume could be light on Friday as traders and fund managers leave early for the holiday weekend. The U.S. markets will be closed on Monday, May 25.
Keep an eye on General Motors (GM). A bankruptcy filing could occur any day now.
The end of first-quarter earnings season removes a catalyst for the bulls. Given that stocks have rallied for 8 out of 10 weeks, a pullback is overdue and I think it has started.
Companies That Could Issue Positive Earnings Surprises
Despite the recession, Aeropostale (ARO - Snapshot Report) continues to enjoy strong growth. April same-store sales surged 20%, leading the company to hike its first-quarter guidance by 14 cents to 46 cents per share. Brokerage analysts are even more bullish and think the casual clothing retailer could announce profits of 48 cents per share. ARO has topped expectations during 3 out of the last 4 quarters. Aeropostale is scheduled to report on Thursday, Apr 21, after the close of trading.
Though same-store sales continue to fall, Gap Inc. (GPS - Analyst Report) recently said that first-quarter earnings would top expectations. The company guided for profits of 29 to 30 cents per share, 6 cents more than what brokerage analysts were projecting in early May. (Revisions by 11 of the 19 covering analysts have since pushed the consensus earnings estimate up to 30 cents per share.) GPS has a long track record of topping expectations. GAP is scheduled to report on May 21, after the close of trading.
About one-quarter of the covering brokerage analysts have raised their fourth-quarter estimates on Home Depot (HD - Analyst Report) in recent weeks. The revisions have nudged the consensus earnings estimate a penny higher to 28 cents per share. The most accurate estimate is more bullish at 30 cents per share. The home improvement retailer has topped expectations for 4 consecutive quarters. Home Depot is scheduled to report on Tuesday, May 19, before the start of trading.
Target (TGT - Snapshot Report) recently predicted that its first-quarter earnings would be "well above" the consensus estimate. Brokerage analysts quickly adjusted their models, sending the consensus earnings estimate up to 60 cents per share - an increase of 11 cents from 30 days ago. The most accurate estimate is slightly more bullish at 61 cents per share. This is a riskier call, however, because TGT does not have a good history of topping expectations. Target is scheduled to report on Wednesday, May 20, before the start of trading.
Companies That Could Issue Negative Earnings Surprises
Deere & Co. (DE - Analyst Report) has missed expectations for 4 consecutive quarters. Analysts seem to be bracing for another miss as is evident by the recent 2-cent drop in the consensus earnings estimate. The average fiscal second-quarter forecast now calls for profits of $1.10 per share. The most accurate estimate is more bearish at a $1.07 per share. Deere is scheduled to report on Wednesday, May 20, before the start of trading.
Charles Rotblut, CFA is the senior market analyst for Zacks.com. He can be reached at crotblut@zacks.com.
Surprise Trader can help you turn earnings surprises into quick profits. Learn how.
Earnings Calendar
Here is a list of companies that we have confirmed will report during the week of May 18 - 221. Prices are as of Thursday's, May 14, market close.
| Company | Stock | Zacks Estimate | Year Ago EPS | Last Qtr Surprise | Date | Time | Price |
| Airmedia Gp-Adr | AMCN - Snapshot Report | $0.00 | $0.10 | (13.3%) | 5/18 | AMC | $5.72 |
| Amer Apparel | APP - Snapshot Report | ($0.02) | $0.02 | (28.6%) | 5/18 | AMC | $5.45 |
| China Ritar Pwr | CRTP - Snapshot Report | $0.02 | $0.03 | (86.7%) | 5/18 | N/A | $1.90 |
| Derma Sciences | DSCI | ($0.01) | ($0.04) | 0.0% | 5/18 | BTO | $0.36 |
| Doctor Reddys | RDY - Analyst Report | $0.33 | $0.15 | N/A | 5/18 | N/A | $11.65 |
| Dri Corp | TBUS - Snapshot Report | ($0.03) | $0.06 | 20.0% | 5/18 | N/A | $1.20 |
| Hasting Entmt | HAST - Snapshot Report | $0.13 | $0.28 | (350.0%) | 5/18 | BTO | $3.48 |
| Himax Tech-Adr | HIMX - Snapshot Report | $0.03 | $0.18 | 12.5% | 5/18 | AMC | $2.52 |
| Ituran Location | ITRN - Snapshot Report | $0.18 | $0.18 | (3.5%) | 5/18 | BTO | $7.47 |
| Kit Digital Inc | KDGL | ($0.33) | ($9.44) | 0.0% | 5/18 | AMC | $8.49 |
| Lowes Cos | LOW - Snapshot Report | $0.25 | $0.41 | (8.3%) | 5/18 | N/A | $18.87 |
| Perfect World | PWRD - Snapshot Report | $0.47 | $0.38 | 65.6% | 5/18 | BTO | $18.34 |
| Petro Resources | PRC | ($0.02) | ($0.04) | (300.0%) | 5/18 | N/A | $0.33 |
| Radiant Logist | RLGT | $0.01 | $0.00 | 200.0% | 5/18 | N/A | $0.16 |
| Simcere Pharmac | SCR - Snapshot Report | $0.17 | $0.25 | (25.0%) | 5/18 | AMC | $7.65 |
| Smf Energy Corp | FUEL | ($0.04) | ($0.10) | 28.6% | 5/18 | N/A | $0.26 |
| Spectrum Pharma | SPPI - Snapshot Report | ($0.11) | ($0.28) | 29.4% | 5/18 | N/A | $4.07 |
| Tsakos Egy Navg | TNP - Snapshot Report | $0.64 | $1.70 | (7.5%) | 5/18 | BTO | $19.01 |
| Valspar Corp | VAL - Analyst Report | $0.35 | $0.41 | (4.8%) | 5/18 | BTO | $22.78 |
| Vimicro Int-Ads | VIMC - Snapshot Report | ($0.14) | ($0.09) | (50.0%) | 5/18 | AMC | $1.79 |
| 012 Smile.Com | SMLC - Snapshot Report | $0.18 | $0.25 | (25.0%) | 5/19 | BTO | $5.49 |
| 3Sbio Inc-Ads | SSRX - Snapshot Report | $0.12 | $0.13 | (27.3%) | 5/19 | AMC | $8.01 |
| Analog Devices | ADI - Analyst Report | $0.09 | $0.44 | 20.0% | 5/19 | AMC | $20.09 |
| Dicks Sprtg Gds | DKS - Snapshot Report | $0.06 | $0.17 | 5.8% | 5/19 | BTO | $17.94 |
| Dycom Inds | DY - Snapshot Report | $0.05 | $0.14 | (100.0%) | 5/19 | AMC | $7.82 |
| E-House China | EJ - Snapshot Report | $0.05 | $0.11 | 16.7% | 5/19 | BTO | $12.49 |
| Excel Maritime | EXM - Analyst Report | $0.12 | $1.93 | 141.5% | 5/19 | AMC | $9.06 |
| Hewlett Packard | HPQ - Analyst Report | $0.86 | $0.87 | 0.0% | 5/19 | AMC | $34.93 |
| Home Depot | HD - Analyst Report | $0.28 | $0.41 | 18.8% | 5/19 | BTO | $24.53 |
| Ja Solar Holdgs | JASO - Analyst Report | ($0.06) | $0.14 | (366.7%) | 5/19 | BTO | $3.35 |
| Kana Software | KANA | ($0.03) | ($0.01) | (300.0%) | 5/19 | AMC | $0.72 |
| Kemet Corp | KEME - Snapshot Report | ($0.09) | ($0.02) | 25.0% | 5/19 | N/A | $0.62 |
| Medtronic | MDT - Analyst Report | $0.82 | $0.78 | 0.0% | 5/19 | BTO | $33.59 |
| Oceanfreight In | OCNF - Snapshot Report | $0.13 | $0.88 | 26.5% | 5/19 | AMC | $1.39 |
| Opnext Inc | OPXT - Analyst Report | ($0.26) | $0.01 | (1200.0%) | 5/19 | BTO | $2.30 |
| Paragon Shpgn-A | PRGN - Snapshot Report | $0.52 | $0.59 | (8.8%) | 5/19 | AMC | $3.45 |
| Phillips Van He | PVH - Snapshot Report | $0.48 | $0.90 | 10.7% | 5/19 | AMC | $26.18 |
| Raven Inds Inc | RAVN - Analyst Report | $0.47 | $0.60 | (10.3%) | 5/19 | BTO | $24.74 |
| Saks Inc | SKS - Analyst Report | ($0.24) | $0.13 | (73.3%) | 5/19 | BTO | $3.60 |
| Solarfun Power | SOLF - Snapshot Report | ($0.17) | $0.32 | (471.4%) | 5/19 | BTO | $4.75 |
| The9 Ltd-Adr | NCTY - Snapshot Report | $0.33 | $0.46 | (26.5%) | 5/19 | AMC | $9.15 |
| Tjx Cos Inc New | TJX - Snapshot Report | $0.49 | $0.41 | 7.8% | 5/19 | BTO | $26.85 |
| Tti Team Tele | TTIL | ($0.04) | $0.05 | (225.0%) | 5/19 | N/A | $0.77 |
| Advance Auto Pt | AAP - Analyst Report | $0.90 | $0.86 | 37.8% | 5/20 | AMC | $39.93 |
| Anntaylor Stres | ANN - Snapshot Report | ($0.21) | $0.47 | (90.7%) | 5/20 | BTO | $7.87 |
| Bj'S Wholesale | BJ - Analyst Report | $0.44 | $0.29 | 3.5% | 5/20 | BTO | $36.40 |
| Brady Corp Cl A | BRC - Snapshot Report | $0.33 | $0.63 | (44.1%) | 5/20 | N/A | $21.91 |
| Cato Corp A | CTR | $0.62 | $0.58 | 18.2% | 5/20 | BTO | $17.98 |
| Chinaedu Cp-Adr | CEDU - Snapshot Report | $0.03 | $0.01 | 500.0% | 5/20 | AMC | $5.40 |
| Citi Trends Inc | CTRN - Analyst Report | $0.43 | $0.36 | 32.1% | 5/20 | AMC | $22.33 |
| Columbus Mckinn | CMCO - Snapshot Report | $0.33 | $0.72 | 29.3% | 5/20 | BTO | $12.83 |
| Comp Science | CSC - Snapshot Report | $1.47 | $1.44 | 4.9% | 5/20 | AMC | $36.47 |
| Deere & Co | DE - Analyst Report | $1.10 | $1.74 | (25.0%) | 5/20 | BTO | $41.78 |
| Eaton Vance | EV - Snapshot Report | $0.21 | $0.43 | 15.8% | 5/20 | BTO | $27.40 |
| Elbit Systems | ESLT - Snapshot Report | $1.02 | $0.75 | 5.3% | 5/20 | BTO | $53.52 |
| Gymboree Corp | GYMB - Snapshot Report | $0.71 | $0.86 | 2.0% | 5/20 | AMC | $32.76 |
| Hoku Scientific | HOKU - Snapshot Report | ($0.08) | ($0.12) | (300.0%) | 5/20 | BTO | $2.75 |
| Hot Topic Inc | HOTT - Analyst Report | $0.02 | ($0.03) | 0.0% | 5/20 | AMC | $8.74 |
| Intuit Inc | INTU - Analyst Report | $1.53 | $1.33 | 8.0% | 5/20 | AMC | $24.32 |
| Limited Inc | LTD - Snapshot Report | ($0.04) | $0.10 | 6.3% | 5/20 | AMC | $11.13 |
| Medcath Corp | MDTH - Snapshot Report | $0.23 | $0.30 | (6.3%) | 5/20 | AMC | $9.74 |
| Melco Pbl Entmt | MPEL - Snapshot Report | ($0.07) | $0.10 | 20.0% | 5/20 | BTO | $5.48 |
| Miva Inc | MIVA | ($0.06) | ($0.16) | 7.1% | 5/20 | AMC | $0.31 |
| Netapp Inc | NTAP - Snapshot Report | $0.15 | $0.31 | 0.0% | 5/20 | AMC | $17.41 |
| Netease.Com-Adr | NTES - Analyst Report | $0.46 | $0.30 | 27.3% | 5/20 | AMC | $30.55 |
| Petsmart Inc | PETM - Analyst Report | $0.30 | $0.32 | 5.1% | 5/20 | AMC | $21.10 |
| Semtech Corp | SMTC - Analyst Report | $0.06 | $0.17 | 0.0% | 5/20 | AMC | $14.14 |
| Synopsys Inc | SNPS - Analyst Report | $0.31 | $0.33 | 8.8% | 5/20 | AMC | $20.56 |
| Target Corp | TGT - Snapshot Report | $0.60 | $0.74 | (3.6%) | 5/20 | BTO | $40.48 |
| Techtarget | TTGT - Snapshot Report | ($0.06) | $0.00 | 0.0% | 5/20 | AMC | $4.45 |
| Tween Brands | TWB - Snapshot Report | ($0.16) | $0.21 | (188.1%) | 5/20 | BTO | $2.90 |
| Westell Tech-A | WSTL - Analyst Report | ($0.03) | ($0.05) | 0.0% | 5/20 | AMC | $0.44 |
| 8X8 Inc | EGHT | $0.01 | $0.01 | (100.0%) | 5/21 | AMC | $0.71 |
| Aeropostale Inc | ARO - Snapshot Report | $0.48 | $0.26 | 1.0% | 5/21 | AMC | $32.79 |
| Alkermes Inc | ALKS - Analyst Report | ($0.13) | ($0.07) | (1.7%) | 5/21 | AMC | $8.63 |
| Aruba Networks | ARUN - Snapshot Report | ($0.08) | ($0.07) | 37.5% | 5/21 | AMC | $4.76 |
| Autodesk Inc | ADSK - Snapshot Report | $0.00 | $0.41 | (7.1%) | 5/21 | AMC | $18.84 |
| Barnes & Noble | BKS - Snapshot Report | ($0.15) | $0.05 | 12.2% | 5/21 | BTO | $22.23 |
| Black Box Corp | BBOX - Snapshot Report | $0.64 | $0.74 | 3.7% | 5/21 | AMC | $25.20 |
| Bon-Ton Stores | BONT - Snapshot Report | ($3.72) | ($2.03) | (13.2%) | 5/21 | BTO | $3.64 |
| Bristow Group | BRS - Snapshot Report | $0.63 | $0.82 | (8.5%) | 5/21 | BTO | $25.57 |
| Brocade Comm Sy | BRCD - Snapshot Report | $0.06 | $0.15 | 7.1% | 5/21 | AMC | $6.00 |
| Buckle Inc | BKE - Snapshot Report | $0.49 | $0.41 | 1.4% | 5/21 | BTO | $31.45 |
| Casual Male Ret | CMRG - Snapshot Report | ($0.04) | $0.00 | (1100.0%) | 5/21 | BTO | $1.34 |
| Childrens Place | PLCE - Snapshot Report | $0.74 | $0.66 | 4.3% | 5/21 | BTO | $32.21 |
| Cost Plus Inc | CPWM - Analyst Report | ($0.84) | ($1.00) | (340.0%) | 5/21 | AMC | $1.90 |
| Dillards Inc-A | DDS - Snapshot Report | ($0.23) | $0.05 | (206.7%) | 5/21 | AMC | $7.60 |
| Dress Barn | DBRN - Snapshot Report | $0.31 | $0.39 | (300.0%) | 5/21 | AMC | $13.79 |
| Foot Locker Inc | FL - Snapshot Report | $0.13 | $0.14 | 41.2% | 5/21 | AMC | $10.76 |
| Gamestop Corp | GME - Analyst Report | $0.41 | $0.38 | 0.0% | 5/21 | BTO | $25.97 |
| Gap Inc | GPS - Analyst Report | $0.30 | $0.34 | 6.3% | 5/21 | AMC | $15.41 |
| Global Srcs-Ltd | GSOL - Snapshot Report | $0.03 | $0.15 | 45.5% | 5/21 | BTO | $5.84 |
| Hibbet Sports | HIBB - Analyst Report | $0.37 | $0.32 | 0.0% | 5/21 | AMC | $18.01 |
| Hormel Foods Cp | HRL - Snapshot Report | $0.50 | $0.56 | 17.6% | 5/21 | BTO | $32.44 |
| Hurray Hldg-Adr | HRAY - Analyst Report | ($0.08) | $0.07 | (3700.0%) | 5/21 | BTO | $2.80 |
| Kirklands Inc | KIRK - Analyst Report | ($0.09) | ($0.11) | 13.5% | 5/21 | BTO | $5.83 |
| Ldk Solar Co | LDK - Snapshot Report | ($0.08) | $0.45 | (48.8%) | 5/21 | AMC | $8.12 |
| Mf Global Ltd | MF - Snapshot Report | $0.09 | ($0.59) | 0.0% | 5/21 | BTO | $5.87 |
| New York & Co | NWY - Snapshot Report | ($0.08) | $0.11 | (11.1%) | 5/21 | BTO | $4.38 |
| Nordson Corp | NDSN - Snapshot Report | $0.27 | $0.97 | 25.8% | 5/21 | AMC | $35.92 |
| Pac Sunwear Cal | PSUN - Snapshot Report | ($0.30) | ($0.17) | 6.0% | 5/21 | AMC | $3.74 |
| Parlux Fragranc | PARL - Snapshot Report | $0.04 | N/A | (414.3%) | 5/21 | AMC | $1.79 |
| Patterson Cos | PDCO - Snapshot Report | $0.50 | $0.51 | 2.3% | 5/21 | BTO | $22.25 |
| Perry Ellis Int | PERY - Snapshot Report | $0.23 | $0.60 | (3300.0%) | 5/21 | AMC | $5.87 |
| Red Robin Gourm | RRGB - Analyst Report | $0.33 | $0.43 | 34.4% | 5/21 | AMC | $19.93 |
| Renesola Lt-Adr | SOL - Analyst Report | $0.07 | $0.28 | (187.5%) | 5/21 | BTO | $3.40 |
| Rosetta Genomic | ROSG - Snapshot Report | ($0.23) | ($0.33) | 10.7% | 5/21 | BTO | $3.02 |
| Ross Stores | ROST - Snapshot Report | $0.72 | $0.60 | 0.0% | 5/21 | BTO | $35.23 |
| Safe Bulkers | SB - Snapshot Report | $0.65 | N/A | (4.8%) | 5/21 | AMC | $5.68 |
| Salesforce.Com | CRM - Analyst Report | $0.11 | $0.08 | 57.1% | 5/21 | AMC | $39.77 |
| Schawk Inc-Cl A | SGK - Snapshot Report | ($0.05) | $0.15 | (55.6%) | 5/21 | AMC | $6.91 |
| Skillsoft Plc | SKIL - Snapshot Report | $0.13 | $0.07 | 87.5% | 5/21 | AMC | $7.37 |
| Stage Stores | SSI - Snapshot Report | ($0.04) | $0.06 | 0.0% | 5/21 | BTO | $10.97 |
| Stein Mart Inc | SMRT - Snapshot Report | $0.12 | $0.17 | (39.0%) | 5/21 | BTO | $3.83 |
| Suntech Pwr Hld | STP - Snapshot Report | ($0.07) | $0.35 | (29.2%) | 5/21 | BTO | $14.73 |
| Tech Data Corp | TECD - Analyst Report | $0.33 | $0.43 | 60.3% | 5/21 | BTO | $27.77 |
| Telvent Git Sa | TLVT - Snapshot Report | $0.29 | $0.37 | 33.9% | 5/21 | BTO | $20.17 |
| Toro Co | TTC - Snapshot Report | $0.93 | $1.60 | 0.0% | 5/21 | BTO | $27.31 |
| Verigy Ltd | VRGY - Snapshot Report | ($0.65) | $0.23 | (18.6%) | 5/21 | AMC | $10.68 |
| Zumiez Inc | ZUMZ - Analyst Report | ($0.08) | $0.05 | 10.53% | 5/21 | AMC | $10.19 |
| British Airways | BAIRY - Analyst Report | ($2.77) | N/A | N/A | 5/22 | N/A | $24.52 |
| Campbell Soup | CPB - Analyst Report | $0.43 | $0.43 | 1.6% | 5/22 | BTO | $26.75 |
| Met-Pro Corp | MPR - Snapshot Report | $0.12 | $0.13 | (25.0%) | 5/22 | BTO | $9.88 |
| Yingli Green En | YGE - Snapshot Report | $0.03 | $0.25 | 62.5% | 5/22 | BTO | $8.08 |
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.
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| Symbol | Price | Net | % Change | Zacks Rank |
Zacks Rec |
| TGT | 49.70 | $0.00 |  0.00 % | PREMIUM | PREMIUM |
| DE | 47.16 | -$0.95 |  -1.97 % | PREMIUM | PREMIUM |
| HD | 26.08 | $0.45 |  1.76 % | PREMIUM | PREMIUM |
| GPS | 23.03 | $0.17 | 0.74 % | PREMIUM | PREMIUM |
| ARO | 33.70 | $0.23 | 0.69 % | PREMIUM | PREMIUM |
| LOW | 20.94 | $0.87 | 4.33 % | PREMIUM | PREMIUM |
| HPQ | 49.16 | $0.31 | 0.63 % | PREMIUM | PREMIUM |
| MTLQQ | 0.60 | -$0.01 | -1.64 % | PREMIUM | PREMIUM |
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| Market Summary | Nov 08, 2009 07:24 am ET |
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