Earnings Preview for June 8 - 12
S&P 500 members Brown Forman (BF.B - Snapshot Report), National Semiconductor (NSM - Analyst Report) and Pall Corporation (PLL - Analyst Report) headline what will be a very light earnings calendar. Only 37 companies are confirmed to report.
On the economic front, the Fed will release its periodic Beige Book on Wednesday afternoon. The next morning we will get May retail sales numbers from the Commerce Department.
- Tuesday: April wholesale inventories
- Wednesday: Fed Beige Book, April trade deficit, May treasury budget, weekly crude inventories
- Thursday: May retail sales, weekly initial jobless claims
- Friday: Initial June University of Michigan consumer confidence, May import and export prices
Three Fed officials are scheduled to speak. Governor Daniel Tarullo will talk about financial regulation at the Peterson Institute for International Economics in Washington, D.C. on Tuesday. On Wednesday, Governor Elizabeth Duke will deliver a lunchtime speech about consumer protection in Cleveland. Finally, Atlanta Fed Reserve President Dennis Lockhart will talk about the economy at a conference in Atlanta on Thursday.
The smartphone market will be in focus.
Palm's (PALM - Snapshot Report) next generation phone, the Pre, goes on sale tomorrow (Jun 6). Expect to hear some discussion about sales and initial reaction by customers.
Competitor Apple (AAPL - Analyst Report) is expected to release details about a new iPhone. A software developers conference starts on Monday and there is speculation that Steve Jobs will be the one introducing the new mobile device.
The markets are stuck in a trading range. Given the light amount of data, there doesn't seem be a reason to think that things will change this week.
This said, keep an eye on Wednesday and Thursday, however. The combination of the Beige Book, speeches from Fed officials, oil inventories and a 10-year treasury auction (Wednesday at 1 p.m.) could get some traders to be more active.
Companies That Could Issue Positive Earnings Surprises
Fiscal-fourth quarter estimates for National Semiconductor (NSM - Analyst Report) have been gradually improving. The current consensus estimate, which calls for a loss of 44 cents per share, is 3 cents better than the average forecast of a month ago. The most accurate estimate is slightly more bullish and calls for a loss of 42 cents per share. Though NSM has topped expectations twice in the past 4 quarters, it has also missed twice, so this is a risky call. National Semiconductor is scheduled to report on Thursday, Jun 11, after the close of trading.
Companies That Could Issue Negative Earnings Surprises
The Talbots Inc. (TLB - Snapshot Report) has not only disappointed investors for 2 consecutive quarters, but it missed estimates by wide margins. Brokerage analysts are bracing for a first-quarter loss of 49 cents per share, but the most accurate estimate suggests the retailer could post a wider loss of 52 cents per share. Talbots is scheduled to report on Tuesday, Jun 9, 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 June 8 - 121. Prices are as of Thursday's, June 4, market close.
| Company | Stock | Zacks Estimate | Year Ago EPS | Last Qtr Surprise | Date | Time | Price |
| Ferrellgas -Lp | FGP - Analyst Report | $0.65 | $0.55 | (7.6%) | 6/8 | N/A | $16.80 |
| Fuelcell Energy | FCEL - Snapshot Report | ($0.30) | ($0.38) | (9.4%) | 6/8 | AMC | $3.74 |
| Pall Corp | PLL - Analyst Report | $0.42 | $0.54 | (13.6%) | 6/8 | AMC | $26.67 |
| Quiksilver Inc | ZQK - Snapshot Report | $0.04 | $0.30 | 22.2% | 6/8 | AMC | $3.28 |
| 99 Cents Only | NDN - Snapshot Report | $0.04 | ($0.06) | (5.3%) | 6/9 | AMC | $10.04 |
| Cra Intl Inc | CRAI - Analyst Report | $0.30 | $0.48 | (48.7%) | 6/9 | BTO | $28.63 |
| Gigamedia Ltd | GIGM - Snapshot Report | $0.11 | $0.20 | (6.7%) | 6/9 | BTO | $6.31 |
| Korn/Ferry Intl | KFY - Snapshot Report | ($0.06) | $0.36 | (20.0%) | 6/9 | BTO | $11.82 |
| Movado Grp Inc | MOV - Snapshot Report | ($0.48) | $0.05 | (975.0%) | 6/9 | BTO | $8.15 |
| Nci Bldg System | NCS - Analyst Report | ($0.14) | $0.85 | 8.9% | 6/9 | AMC | $3.99 |
| Oxford Inds Inc | OXM - Snapshot Report | $0.25 | $0.59 | 100.0% | 6/9 | AMC | $10.85 |
| Pep Boys M M &J | PBY - Snapshot Report | $0.06 | $0.00 | 11.5% | 6/9 | BTO | $7.81 |
| Piedmont Nat Ga | PNY - Snapshot Report | $0.66 | $0.66 | (1.8%) | 6/9 | BTO | $23.11 |
| Rentrak Corp | RENT - Snapshot Report | $0.05 | $0.10 | 0.0% | 6/9 | AMC | $10.50 |
| Shuffle Master | SHFL - Snapshot Report | $0.04 | $0.09 | (75.0%) | 6/9 | AMC | $4.25 |
| Streamline Hlth | STRM - Snapshot Report | ($0.02) | ($0.09) | N/A | 6/9 | AMC | $3.48 |
| Talbots Inc | TLB - Snapshot Report | ($0.49) | $0.21 | (258.2%) | 6/9 | BTO | $4.88 |
| Titan Machinery | TITN - Snapshot Report | $0.13 | $0.24 | -14.29% | 6/9 | BTO | $16.06 |
| Brown Forman B | BF.B - Snapshot Report | $0.49 | $0.65 | 5.2% | 6/10 | BTO | $45.99 |
| Hooker Furnitur | HOFT - Snapshot Report | $0.16 | $0.23 | 5.0% | 6/10 | BTO | $12.00 |
| Linktone Ltd | LTON - Analyst Report | ($0.02) | ($0.18) | 220.0% | 6/10 | AMC | $2.50 |
| Measuremnt Spcl | MEAS - Snapshot Report | $0.00 | $0.31 | 200.0% | 6/10 | AMC | $6.39 |
| Mens Wearhouse | MW - Snapshot Report | $0.00 | $0.20 | 62.5% | 6/10 | AMC | $18.43 |
| North Amer Egy | NOA - Snapshot Report | $0.16 | $0.66 | 44.1% | 6/10 | AMC | $7.75 |
| Stewart Entrp A | STEI - Snapshot Report | $0.08 | $0.15 | (12.5%) | 6/10 | BTO | $4.90 |
| Access Integr-A | CIDM - Snapshot Report | ($0.21) | ($0.43) | 0.0% | 6/11 | N/A | $1.11 |
| Arcsight Inc | ARST - Snapshot Report | $0.07 | ($0.03) | 300.0% | 6/11 | AMC | $17.75 |
| China Med Tech | CMED - Snapshot Report | $0.45 | $0.53 | 268.8% | 6/11 | BTO | $25.01 |
| Chindex Intl | CHDX - Snapshot Report | $0.10 | ($0.20) | (21.4%) | 6/11 | BTO | $8.69 |
| Del Monte Foods | DLM - Analyst Report | $0.26 | $0.29 | 36.4% | 6/11 | BTO | $8.40 |
| Herley Inds Inc | HRLY - Snapshot Report | $0.16 | $0.15 | 220.0% | 6/11 | AMC | $11.02 |
| Hoku Scientific | HOKU - Snapshot Report | ($0.08) | ($0.12) | (300.0%) | 6/11 | BTO | $3.12 |
| Lululemon Athlt | LULU - Snapshot Report | $0.08 | $0.12 | 33.3% | 6/11 | BTO | $14.08 |
| Mds Inc | MDZ - Snapshot Report | $0.06 | $0.06 | (14.3%) | 6/11 | BTO | $5.44 |
| Natl Semicon | NSM - Analyst Report | ($0.44) | $0.35 | 180.0% | 6/11 | AMC | $13.99 |
| Repligen | RGEN - Snapshot Report | ($0.06) | ($0.10) | 100.0% | 6/11 | N/A | $4.55 |
| School Specialt | SCHS - Analyst Report | ($0.66) | ($0.66) | (13.9%) | 6/11 | BTO | $19.69 |
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.