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Earnings Preview for Oct 12 - 16
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ShareLarge-cap companies will dominate the earnings headlines this week.
Dow components Bank of America (BAC - Analyst Report), General Electric (GE - Analyst Report), IBM (IBM - Analyst Report), Intel (INTC - Analyst Report) and Johnson & Johnson (JNJ - Analyst Report) are scheduled to release third-quarter results. Joining them will be Goldman Sachs (GS - Analyst Report) and Google (GOOG - Analyst Report). In total, we have confirmed reports from 72 companies, 29 of which are in the S&P 500.
There will be quite a bit of economic data published, including CPI and industrial production and capacity utilization. We will also get the minutes from the September Fed meeting, which will be scrutinized for any talking points about the pace of the recovery.
- Wednesday: September retail sales, Fed minutes, August business inventories, weekly crude inventories, weekly mortgage applications
- Thursday: September Consumer Price Index (CPI), October Philadelphia Fed survey, weekly initial jobless claims, weekly natural gas inventories
- Friday: September industrial production and capacity utilization, preliminary October University of Michigan sentiment
Both Council of Economic Advisers Chair Christina Romer and Federal Reserve Vice Chairman Donald Kohn will speak at the National Association for Business Economics' Annual Meeting in St. Louis on Tuesday. Romer has a morning presentation and Kohn will speak in the afternoon. Also on Tuesday, New York Federal Reserve Bank President William Dudley will talk to the Institute of International Bankers.
Fed Governor Daniel Tarullo will testify before a House subcommittee on Wednesday afternoon. His testimony will focus on the state of the banking industry. Dallas Federal Reserve Bank President Richard Fisher will appear at a conference in Dallas on Friday. The conference is co-sponsored by SMU's business school.
Though Monday is Columbus Day, both the stock and futures markets will operate on normal hours.
Though stocks are poised to continue the rally, a good reaction to the third-quarter results will be required to get the Dow firmly above 10,000. The key will be whether business conditions improved enough to enable companies to surpass both revenue and earnings forecasts.
Keep in mind the number of reports will jump substantially next week.
Companies That Could Issue Positive Earnings Surprises
Fairchild Semiconductor International (FCS - Snapshot Report) has topped expectations for 4 consecutive quarters. Another positive surprise could be in works as 4 analysts recently raised their third-quarter profit projections. These revisions have pushed the Zacks Consensus Estimate a penny higher to 7 cents per share. The most accurate estimate is even more bullish at 9 cents per share. FCS is scheduled to report on Thursday, Oct 15, before the start of trading.
More than half of the covering analysts raised their third-quarter profit forecasts on Goldman Sachs (GS - Analyst Report) over the past 30 days. These revisions resulted in a 63-cent upward revision in the Zacks Consensus Estimate, to $4.07 per share. The most accurate estimate is even more bullish at $4.16 per share. Last quarter, GS beat expectations by $1.41 per share. Goldman Sachs is scheduled to report on Thursday, Oct 15, after the close of trading.
The third-quarter Zacks Consensus Estimate for Google (GOOG - Analyst Report) has risen 2 cents over the past 30 days to $4.66 per share. Positive revisions by about a quarter of the covering analysts are behind the optimism. The most accurate estimate is even more bullish at $4.72 per share. Google has topped expectations for 4 consecutive quarters. Google is scheduled to report on Thursday, Oct 15, after the close of trading.
Five analysts have raised their third-quarter profit forecasts on Intel (INTC - Analyst Report) during the past 4 weeks. Due to the fact that more than 30 analysts cover INTC, the changes did not move the Zacks Consensus Estimate from its current level of 27 cents per share. They did, however, result in a slightly more bullish most accurate estimate of 28 cents per share. The semiconductor company has topped expectations during 3 out of the last 4 quarters. Intel is scheduled to report on Tuesday, Oct 13, after the close of trading.
Companies That Could Issue Negative Earnings Surprises
Safeway (SWY - Analyst Report) has missed expectations for 4 consecutive quarters. Recent earnings estimate cuts by 2 analysts suggest another disappointment could be forthcoming. The revisions pushed the Zacks Consensus Estimate down a penny to 31 cents per share. The most accurate estimate is more bearish at 28 cents per share. Safeway is scheduled to report on Thursday, Oct 15, before the start of trading.
Charles Rotblut, CFA is the senior market analyst for Zacks.com.
Earnings Calendar
Here is a list of companies that we have confirmed will report during the week of Oct 12 - 16. Prices are as of Thursday's, Oct 8, market close.
| Company | Stock | Zacks Estimate | Year Ago EPS | Last Qtr Surprise | Date | Time | Price |
| Equity Lifestyl | ELS - Snapshot Report | $0.79 | $0.74 | 13.2% | 10/12 | AMC | $45.38 |
| Fastenal | FAST - Analyst Report | $0.32 | $0.52 | (12.1%) | 10/12 | BTO | $38.33 |
| Altera Corp | ALTR - Analyst Report | $0.18 | $0.31 | 0.0% | 10/13 | AMC | $20.15 |
| Audiovox Corp | VOXX - Snapshot Report | $0.02 | ($0.10) | 93.3% | 10/13 | AMC | $6.72 |
| Bank Ozarks | OZRK - Snapshot Report | $0.47 | $0.53 | 5.7% | 10/13 | AMC | $25.63 |
| Csx Corp | CSX - Analyst Report | $0.71 | $0.94 | 14.3% | 10/13 | AMC | $44.13 |
| Dominos Pizza | DPZ - Snapshot Report | $0.15 | $0.13 | 5.0% | 10/13 | BTO | $8.60 |
| Exfo Electro | EXFO - Snapshot Report | ($0.06) | $0.05 | 50.0% | 10/13 | AMC | $3.60 |
| Gigamedia Ltd | GIGM - Snapshot Report | $0.10 | $0.18 | (27.3%) | 10/13 | BTO | $4.81 |
| Intel Corp | INTC - Analyst Report | $0.27 | $0.38 | 157.1% | 10/13 | AMC | $19.88 |
| Johnson & Johnson | JNJ - Analyst Report | $1.13 | $1.17 | 2.7% | 10/13 | BTO | $60.94 |
| Kmg Chemicals | KMGB - Snapshot Report | $0.34 | $0.05 | 25.0% | 10/13 | BTO | $11.18 |
| Abbott Labs | ABT - Analyst Report | $0.90 | $0.79 | 1.1% | 10/14 | BTO | $50.11 |
| Acergy Sa | ACGY | $0.16 | $0.58 | 25.0% | 10/14 | N/A | $13.79 |
| Adtran Inc | ADTN - Analyst Report | $0.32 | $0.35 | 7.1% | 10/14 | N/A | $24.26 |
| Aptargroup Inc | ATR - Snapshot Report | $0.47 | $0.57 | 2.5% | 10/14 | AMC | $37.34 |
| Commerce Bancsh | CBSH - Analyst Report | $0.51 | $0.62 | 37.8% | 10/14 | BTO | $37.02 |
| Crown Hldgs Inc | CCK - Snapshot Report | $0.79 | $0.70 | 4.8% | 10/14 | AMC | $28.34 |
| Datalink Corp | DTLK - Snapshot Report | $0.01 | $0.08 | 0.0% | 10/14 | AMC | $3.98 |
| Grainger W W | GWW - Analyst Report | $1.34 | $1.79 | 6.1% | 10/14 | BTO | $89.36 |
| Host Hotel&Rsrt | HST - Analyst Report | $0.08 | $0.31 | 8.0% | 10/14 | BTO | $11.55 |
| JPMorgan Chase | JPM - Analyst Report | $0.49 | $0.12 | 366.7% | 10/14 | BTO | $45.30 |
| Landstar System | LSTR - Snapshot Report | $0.39 | $0.62 | (7.5%) | 10/14 | AMC | $38.07 |
| Lufkin Inds | LUFK - Snapshot Report | $0.20 | $1.66 | (4.8%) | 10/14 | BTO | $55.13 |
| Medtox Scientif | MTOX - Snapshot Report | $0.08 | $0.19 | (60.0%) | 10/14 | BTO | $9.23 |
| Progressive Cor | PGR - Analyst Report | $0.33 | $0.31 | 0.0% | 10/14 | BTO | $16.34 |
| Spartan Stores | SPTN - Snapshot Report | $0.50 | $0.56 | 3.1% | 10/14 | AMC | $13.92 |
| Stanley Furn Co | STLY - Snapshot Report | ($0.27) | ($0.07) | (45.0%) | 10/14 | AMC | $10.31 |
| Wd 40 Co | WDFC - Snapshot Report | $0.40 | $0.33 | 10.8% | 10/14 | AMC | $31.23 |
| Xilinx Inc | XLNX - Analyst Report | $0.21 | $0.38 | 5.0% | 10/14 | AMC | $22.57 |
| Zep Inc | ZEP - Snapshot Report | $0.30 | $0.37 | 78.57% | 10/14 | AMC | $16.55 |
| Adv Micro Dev | AMD - Analyst Report | ($0.41) | $0.13 | (34.0%) | 10/15 | AMC | $5.51 |
| Amphenol Corp-A | APH - Analyst Report | $0.43 | $0.63 | 2.4% | 10/15 | BTO | $37.88 |
| Baxter Intl | BAX - Analyst Report | $0.96 | $0.88 | 2.1% | 10/15 | BTO | $57.55 |
| Citigroup Inc | C - Analyst Report | ($0.22) | ($0.61) | (200.0%) | 10/15 | BTO | $4.65 |
| Cubist Pharm | CBST - Snapshot Report | $0.33 | $0.44 | 42.9% | 10/15 | AMC | $19.34 |
| Cypress Semicon | CY - Analyst Report | ($0.15) | ($0.17) | 25.6% | 10/15 | BTO | $9.66 |
| Cytec Inds Inc | CYT - Snapshot Report | $0.30 | $1.06 | (200.0%) | 10/15 | AMC | $33.26 |
| Fairchild Semi | FCS - Snapshot Report | $0.07 | $0.27 | 72.7% | 10/15 | BTO | $8.77 |
| Goldman Sachs | GS - Analyst Report | $4.07 | $1.81 | 40.1% | 10/15 | BTO | $188.17 |
| Google Inc-Cl A | GOOG - Analyst Report | $4.66 | $4.24 | 7.1% | 10/15 | AMC | $514.18 |
| Gsc Investment | GNV | $0.25 | $0.42 | (8.8%) | 10/15 | AMC | $3.63 |
| Harley-Davidson | HOG - Analyst Report | $0.22 | $0.71 | 3.8% | 10/15 | BTO | $23.28 |
| Home Bancshares | HOMB - Snapshot Report | $0.29 | $0.32 | 20.0% | 10/15 | BTO | $21.82 |
| Intl Bus Mach | IBM - Analyst Report | $2.38 | $2.05 | 14.3% | 10/15 | AMC | $122.29 |
| Knoll Inc | KNL - Snapshot Report | $0.12 | $0.52 | 5.0% | 10/15 | BTO | $10.19 |
| Luby'S Inc | LUB - Snapshot Report | ($0.20) | ($0.10) | (50.0%) | 10/15 | AMC | $4.21 |
| Mcclatchy Co-A | MNI - Snapshot Report | $0.02 | $0.13 | 1100.0% | 10/15 | N/A | $2.65 |
| Mission West | MSW - Snapshot Report | $0.13 | N/A | (7.1%) | 10/15 | N/A | $6.71 |
| Nokia Cp-Adr A | NOK - Analyst Report | $0.18 | $0.44 | 17.6% | 10/15 | BTO | $14.40 |
| Peoples Utd Fin | PBCT - Analyst Report | $0.07 | $0.14 | 33.3% | 10/15 | AMC | $15.49 |
| Polaris Indus | PII - Snapshot Report | $0.84 | $1.13 | 10.4% | 10/15 | BTO | $41.15 |
| Ppg Inds Inc | PPG - Analyst Report | $0.88 | $1.37 | 18.4% | 10/15 | BTO | $59.22 |
| Safeway Inc | SWY - Analyst Report | $0.31 | $0.46 | (21.8%) | 10/15 | BTO | $20.85 |
| Simmons First A | SFNC - Snapshot Report | $0.47 | $0.46 | 25.8% | 10/15 | BTO | $28.33 |
| Southwest Air | LUV - Analyst Report | ($0.04) | $0.09 | 14.3% | 10/15 | BTO | $9.72 |
| Tempur-Pedic | TPX - Snapshot Report | $0.26 | $0.32 | 22.2% | 10/15 | AMC | $19.41 |
| Ultratech Step | UTEK - Snapshot Report | $0.00 | $0.14 | (300.0%) | 10/15 | BTO | $14.97 |
| Umpqua Hldgs Cp | UMPQ - Snapshot Report | $0.03 | $0.23 | 216.7% | 10/15 | BTO | $10.46 |
| Univl Fst Prods | UFPI - Analyst Report | $0.38 | $0.23 | 93.0% | 10/15 | AMC | $40.59 |
| Usa Truck Inc | USAK - Snapshot Report | ($0.09) | $0.25 | (999.0%) | 10/15 | BTO | $12.61 |
| Winnebago | WGO - Snapshot Report | ($0.24) | ($0.28) | (7.4%) | 10/15 | BTO | $14.96 |
| Bank Of Amer Cp | BAC - Analyst Report | ($0.10) | $0.15 | 37.5% | 10/16 | BTO | $17.33 |
| First Hrzn Natl | FHN - Analyst Report | ($0.34) | ($0.55) | (75.8%) | 10/16 | BTO | $12.78 |
| General Electric | GE - Analyst Report | $0.20 | $0.45 | 29.2% | 10/16 | BTO | $16.22 |
| Genuine Parts | GPC - Analyst Report | $0.65 | $0.81 | 4.8% | 10/16 | BTO | $37.96 |
| Halliburton Co | HAL - Analyst Report | $0.26 | $0.76 | 11.1% | 10/16 | BTO | $28.80 |
| Mattel Inc | MAT - Analyst Report | $0.64 | $0.66 | 200.0% | 10/16 | BTO | $18.53 |
| Prosperity Bcsh | PRSP | $0.61 | $0.53 | 14.0% | 10/16 | BTO | $34.09 |
| Sensient Tech | SXT - Snapshot Report | $0.49 | $0.50 | 1.9% | 10/16 | N/A | $27.63 |
| Smith (Ao) Corp | AOS - Snapshot Report | $0.67 | $0.70 | 58.0% | 10/16 | BTO | $41.51 |
| Valmont Inds | VMI - Analyst Report | $1.07 | $1.40 | 40.8% | 10/16 | N/A | $86.84 |
BTO = Before The Market Open, AMC = After The Market Close
Read the full analyst report on FCS
Read the full analyst report on GOOG
Read the full analyst report on INTC
Read the full analyst report on SWY
Read the full analyst report on GS
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