Earnings Preview for May 25 - 29
Dell (DELL - Analyst Report), AutoZone (AZO - Analyst Report), Big Lots (BIG - Snapshot Report) and Costco (COST - Snapshot Report) are among the most notable names for what will be a light week for earnings. Just 81 companies are confirmed to report, 9 of which are S&P 500 (SPX) members.
Housing data will be among the economic headlines with CaseShiller, existing home sales and new home sales data being released. We will also see the first set of revisions to Q1 GDP.
- Tuesday: S&P/CaseShiller housing price index, Conference Board May consumer confidence index
- Wednesday: April existing home sales, weekly crude inventories
- Thursday: April new home sales, April durable goods orders, weekly initial jobless claims
- Friday: Preliminary Q1 GDP, May Chicago PMI, revised May University of Michigan consumer confidence
Dallas Fed President Richard Fisher will discuss the economic outlook on Thursday, May 28 before the Washington Association of Money Managers.
The biggest news of the week should be General Motors (GM). The company has until May 26 to get bondholders to agree to a deal. If an agreement is not reached, it's hard to see how the automaker will meet the White House's June 1 deadline for a restructuring plan.
Bankruptcy seems likely. If a resolution is found (including a neat, prepackaged bankruptcy), the markets could react very positively. A contentious bankruptcy, however, could send stocks lower. The latter scenario seems more likely.
Companies That Could Issue Positive Earnings Surprises
Shares of AutoZone (AZO - Analyst Report) following the company's last 2 reports. Can AZO do it again?
Three of the 18 covering analysts have raised their fiscal third-quarter forecasts over the past few weeks, nudging the consensus earnings estimate a penny higher to $2.89 per share. The most accurate estimate is more bullish at $2.94. Keep in mind, however, that AZO has missed once in the past 3 quarters and one analyst recently lowered his projections. So there is some risk. AZO is scheduled to report on Wednesday, May 27, before the start of trading.
Big Lots (BIG - Snapshot Report) has topped expectations for nearly every quarter over the past 3 years. Ahead of the closeout retailer's first-quarter report, the majority of the covering analysts have raised their forecasts. These revisions pushed the consensus earnings estimate 3 cents higher to 40 cents per share. Big Lots is scheduled to report on Thursday, May 28, before the start of trading.
Marvell Technology Group (MRVL - Snapshot Report) has delivered 4 consecutive earnings surprises. Revisions by 2 of the 18 covering analysts resulted in the most accurate estimate calling for a 1-cent loss, which is a penny better than the consensus earnings estimate. The possibility for positive guidance also exists, given the commentary provided by other chipmakers. Marvell Technology Group is scheduled to report on Thursday, May 28, after the close of trading.
Companies That Could Issue Negative Earnings Surprises
DSW, Inc. (DSW - Snapshot Report) disappointed investors twice during the past 4 quarters. Some analysts believe another miss could be forthcoming, as is evidenced by the 1-cent fall in the consensus earnings estimate, to 14 cents per share. The most accurate estimate is even more bearish at 11 cents per share. DSW is scheduled to report on Thursday, May 28, 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 May 25 - 291. Prices are as of Thursday's, May 21, market close.
| Company | Stock | Zacks Estimate | Year Ago EPS | Last Qtr Surprise | Date | Time | Price |
| Cninsure In-Adr | CISG - Snapshot Report | $0.15 | $0.11 | (22.2%) | 5/25 | AMC | $9.14 |
| Giant Interactv | GA - Snapshot Report | $0.14 | $0.20 | 63.6% | 5/25 | BTO | $8.20 |
| Bank Montreal | BMO - Snapshot Report | $0.71 | $1.24 | 14.7% | 5/26 | N/A | $36.57 |
| Borders Group | BGP - Snapshot Report | ($0.50) | ($0.53) | 12.9% | 5/26 | AMC | $2.25 |
| Canadian Solar | CSIQ - Analyst Report | ($0.25) | $0.61 | (373.3%) | 5/26 | BTO | $10.50 |
| Cellcom Israel | CEL - Snapshot Report | $0.54 | $0.78 | 10.2% | 5/26 | N/A | $26.00 |
| China Fin Onlin | JRJC - Snapshot Report | $0.04 | $0.15 | (16.0%) | 5/26 | BTO | $12.19 |
| China Mass-Adr | CMM - Snapshot Report | $0.25 | N/A | (52.4%) | 5/26 | BTO | $3.56 |
| Donaldson Co | DCI - Snapshot Report | $0.30 | $0.52 | 0.0% | 5/26 | AMC | $31.49 |
| Noah Education | NED - Snapshot Report | $0.12 | $0.20 | 0.0% | 5/26 | BTO | $3.80 |
| Park City Grp | PCYG | ($0.07) | ($0.03) | (9.1%) | 5/26 | N/A | $1.30 |
| Shiloh Inds Inc | SHLO | ($0.26) | $0.12 | (152.9%) | 5/26 | N/A | $2.35 |
| Take-Two Inter | TTWO - Snapshot Report | ($0.21) | $1.35 | 23.3% | 5/26 | AMC | $9.23 |
| Tata Communicat | TCL - Snapshot Report | $0.12 | $0.10 | N/A | 5/26 | N/A | $24.74 |
| Terremark Wrlwd | TMRK - Snapshot Report | $0.01 | ($0.05) | 0.0% | 5/26 | AMC | $4.47 |
| Afc Enterprises | AFCE - Snapshot Report | $0.19 | $0.21 | 0.0% | 5/27 | BTO | $5.94 |
| Amer Eagle Outf | AEO - Snapshot Report | $0.07 | $0.21 | 0.0% | 5/27 | BTO | $13.59 |
| Autozone Inc | AZO - Analyst Report | $2.89 | $2.49 | 9.7% | 5/27 | BTO | $154.54 |
| Blue Coat Sys | BCSI - Snapshot Report | $0.14 | $0.20 | 83.3% | 5/27 | AMC | $15.91 |
| Brown Shoe Co | BWS - Snapshot Report | ($0.31) | $0.05 | 24.3% | 5/27 | BTO | $6.32 |
| Charming Shoppe | CHRS - Snapshot Report | ($0.07) | $0.05 | 10.5% | 5/27 | BTO | $3.14 |
| Chicos Fas Fnc | CHS - Snapshot Report | $0.07 | $0.07 | 17.6% | 5/27 | BTO | $7.64 |
| China Nepstar | NPD - Snapshot Report | $0.05 | $0.04 | 50.0% | 5/27 | BTO | $5.14 |
| China Sunergy | CSUN - Snapshot Report | ($0.26) | $0.01 | (22.9%) | 5/27 | BTO | $3.61 |
| Coldwater Creek | CWTR - Snapshot Report | ($0.14) | ($0.10) | 13.0% | 5/27 | AMC | $3.82 |
| Cracker Barrel | CBRL - Snapshot Report | $0.44 | $0.46 | 8.0% | 5/27 | BTO | $29.62 |
| Diamond Foods | DMND - Analyst Report | $0.14 | $0.07 | 23.3% | 5/27 | AMC | $23.51 |
| Dollar Tree Inc | DLTR - Snapshot Report | $0.59 | $0.48 | 1.8% | 5/27 | BTO | $42.45 |
| Flowers Foods | FLO - Snapshot Report | $0.41 | $0.39 | 9.7% | 5/27 | BTO | $21.64 |
| Heico Corp | HEI - Snapshot Report | $0.41 | $0.44 | 0.0% | 5/27 | AMC | $28.80 |
| Jo-Ann Stores A | JAS - Snapshot Report | $0.11 | $0.12 | (2.6%) | 5/27 | AMC | $20.64 |
| Longtop Fin-Adr | LFT - Snapshot Report | $0.15 | $0.09 | 0.0% | 5/27 | AMC | $20.94 |
| Magma Design | LAVA - Snapshot Report | ($0.10) | $0.08 | 6.3% | 5/27 | AMC | $1.87 |
| Netezza Corp | NZ - Snapshot Report | $0.02 | $0.03 | 0.0% | 5/27 | AMC | $7.24 |
| On Track Innov | OTIV - Snapshot Report | ($0.15) | ($0.35) | (55.6%) | 5/27 | N/A | $1.51 |
| Palm Harbor Hms | PHHM - Snapshot Report | ($0.58) | ($0.19) | (56.8%) | 5/27 | AMC | $2.22 |
| Polo Ralph Laur | RL - Snapshot Report | $0.39 | $1.00 | 20.7% | 5/27 | BTO | $48.95 |
| Rbc Bearings | ROLL - Snapshot Report | $0.38 | $0.57 | (2.4%) | 5/27 | BTO | $17.48 |
| Sigma Designs | SIGM - Snapshot Report | $0.14 | $0.20 | 36.4% | 5/27 | AMC | $15.95 |
| Staples Inc | SPLS - Snapshot Report | $0.21 | $0.30 | (14.3%) | 5/27 | BTO | $19.09 |
| Synovis Lif Tec | SYNO - Snapshot Report | $0.13 | $0.10 | 27.3% | 5/27 | BTO | $13.82 |
| Tivo Inc | TIVO - Analyst Report | ($0.05) | $0.04 | 60.0% | 5/27 | AMC | $7.05 |
| Zale Corp New | ZLC - Snapshot Report | ($0.54) | ($0.42) | -70.37% | 5/27 | BTO | $4.77 |
| Appld Signal | APSG - Snapshot Report | $0.20 | $0.16 | 80.0% | 5/28 | AMC | $19.85 |
| Arctic Cat Inc | ACAT - Snapshot Report | ($0.89) | $0.02 | 58.3% | 5/28 | BTO | $4.42 |
| Bank Of Nova Sc | BNS - Snapshot Report | $0.61 | $0.97 | 1.3% | 5/28 | N/A | $31.28 |
| Big Lots Inc | BIG - Snapshot Report | $0.40 | $0.42 | 6.4% | 5/28 | BTO | $24.14 |
| Cdn Impl Bk | CM - Snapshot Report | $1.14 | $1.58 | 22.4% | 5/28 | N/A | $47.76 |
| Costco Whole Cp | COST - Snapshot Report | $0.53 | $0.67 | (8.3%) | 5/28 | BTO | $48.31 |
| Daktronics Inc | DAKT - Snapshot Report | $0.09 | $0.14 | (9.1%) | 5/28 | BTO | $8.35 |
| Delias Inc | DLIA - Snapshot Report | ($0.14) | ($0.13) | 75.0% | 5/28 | BTO | $2.04 |
| Dell Inc | DELL - Analyst Report | $0.23 | $0.38 | 3.6% | 5/28 | BTO | $10.83 |
| Descartes Sys | DSGX - Snapshot Report | $0.07 | $0.02 | (16.7%) | 5/28 | BTO | $3.44 |
| Dsw Inc Cl-A | DSW - Snapshot Report | $0.14 | $0.23 | (16.7%) | 5/28 | BTO | $12.66 |
| Esterline | ESL - Snapshot Report | $0.94 | $0.84 | 12.5% | 5/28 | AMC | $26.69 |
| Freds Inc | FRED - Analyst Report | $0.20 | $0.18 | (9.1%) | 5/28 | BTO | $12.57 |
| Genesco Inc | GCO - Snapshot Report | $0.02 | $0.14 | 0.0% | 5/28 | BTO | $22.29 |
| Heinz (Hj) Co | HNZ - Analyst Report | $0.54 | $0.61 | 18.8% | 5/28 | BTO | $35.39 |
| Iteris Inc | ITI - Snapshot Report | $0.03 | $0.06 | 100.0% | 5/28 | AMC | $1.35 |
| J Crew Group | JCG - Snapshot Report | $0.11 | $0.48 | 25.9% | 5/28 | AMC | $20.02 |
| Jamba Inc | JMBA - Snapshot Report | ($0.13) | ($0.14) | (106.3%) | 5/28 | AMC | $1.07 |
| Marvell Tech Gp | MRVL - Snapshot Report | ($0.02) | $0.11 | 80.0% | 5/28 | AMC | $11.09 |
| Mentor Graphics | MENT - Snapshot Report | ($0.01) | ($0.21) | (18.4%) | 5/28 | BTO | $6.34 |
| Monro Muffler | MNRO - Snapshot Report | $0.15 | $0.13 | 0.0% | 5/28 | BTO | $27.22 |
| Movado Grp Inc | MOV - Snapshot Report | ($0.48) | $0.05 | (975.0%) | 5/28 | BTO | $7.58 |
| Novell Inc | NOVL - Snapshot Report | $0.04 | $0.05 | 25.0% | 5/28 | AMC | $4.06 |
| Omnivision Tech | OVTI - Analyst Report | ($0.45) | $0.17 | (28.6%) | 5/28 | AMC | $9.74 |
| Perry Ellis Int | PERY - Snapshot Report | $0.23 | $0.60 | (3300.0%) | 5/28 | BTO | $5.92 |
| Sanderson Farms | SAFM - Snapshot Report | $0.58 | $0.30 | 8.3% | 5/28 | BTO | $41.45 |
| Shoe Carnival | SCVL - Snapshot Report | $0.27 | $0.38 | (33.3%) | 5/28 | BTO | $9.75 |
| Sonic Solutions | SNIC - Snapshot Report | ($0.09) | $0.02 | 18.2% | 5/28 | AMC | $1.39 |
| Sourceforge Inc | LNUX - Snapshot Report | ($0.03) | ($0.01) | 0.0% | 5/28 | AMC | $1.07 |
| Sycamore Ntwks | SCMR - Analyst Report | ($0.03) | ($0.01) | (50.0%) | 5/28 | BTO | $2.82 |
| Toronto Dom Bnk | TD - Snapshot Report | $0.91 | $1.32 | 3.8% | 5/28 | N/A | $42.71 |
| Wet Seal Inc -A | WTSLA - Analyst Report | $0.04 | $0.09 | 28.6% | 5/28 | AMC | $3.50 |
| Frontline Ltd | FRO - Snapshot Report | $0.67 | $2.46 | (13.7%) | 5/29 | N/A | $21.40 |
| Graham Corp | GHM - Snapshot Report | $0.27 | $0.39 | 37.0% | 5/29 | BTO | $14.11 |
| Natl Bk Gr-Adr | NBG - Snapshot Report | $0.21 | $0.26 | N/A | 5/29 | N/A | $4.93 |
| Quanex Bldg Prd | NX - Snapshot Report | ($0.18) | $0.17 | 26.7% | 5/29 | N/A | $10.60 |
| Royal Bank Cda | RY - Snapshot Report | $0.80 | $0.70 | 13.6% | 5/29 | N/A | $37.51 |
| Tiffany & Co | TIF - Analyst Report | $0.19 | $0.50 | 6.3% | 5/29 | BTO | $26.07 |
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.