Companies that could issue positive surprises include Dollar Tree Inc. (DLTR), Hewlett-Packard (HPQ) and Netezza Corporation (NZ). CBRL Group Inc (CBRL) and Eaton Vance Corporation (EV) could potentially disappoint investors.
The Week's Events
The U.S. financial markets will be closed on Thursday in observance of Thanksgiving. On Friday, Nov 28, stock exchanges will close at 1 p.m. ET.
As would be expected for a holiday-shortened week, the financial calendar is pretty light.
Only 62 companies have been confirmed to report. Joining Dow component Hewlett-Packard (HPQ) will be fellow S&P 500 members Analog Devices (ADI), Campbell Soup (CPB), Deere & Co. (DE), D.R. Horton (DHI) and Tiffany & Co. (TIF).
Much of the week's economic data will be released on Wednesday morning because of the holiday. Key reports will include existing and new home sales and durable goods orders.
- Monday: October existing home sales
- Tuesday: November Conference Board consumer confidence, preliminary third-quarter GDP
- Wednesday: October new home sales, October durable goods, October personal income and spending, November Chicago PMI, final November University of Michigan consumer confidence, weekly crude inventories, weekly initial jobless claims
No Fed members are scheduled to deliver speeches.
I expect the markets to remain volatile throughout the week, especially with volume being below average on Wednesday. It's a short week and investors should use it to spend time with family and friends.
On behalf of everyone at Zacks, have a happy Thanksgiving.
Companies That Could Issue Positive Earnings Surprises
Dollar Tree Inc. (DLTR) reported a 6.2% rise in same-store sales for the third quarter, helped by increased customer traffic and higher spending during Halloween. Total sales rose more than 11% to $1.11 billion, prompting 3 of the 9 covering brokerage analysts to raise their profit forecasts. These revisions pushed the consensus earnings estimate up by a penny to 44 cents per share. The most accurate estimate is slightly more bullish at 45 cents per share. The company has topped consensus estimates for 4 consecutive quarters. Dollar Tree is scheduled to report earnings on Tuesday, Nov 25, before the open of trading.
Netezza Corporation (NZ) has topped consensus earnings estimate for 4 consecutive quarters. Ahead of the company’s third-quarter report, one brokerage analyst has raised his forecast. The revision was not enough to move the consensus earnings estimate from 4 cents per share, but it did result in a most accurate estimate of 5 cents per share. Netezza is scheduled to report earnings on Tuesday, Nov 25, after the close of trading.
Last week, Hewlett-Packard (HPQ) preannounced non-GAAP fiscal fourth-quarter earnings of $1.03 per share. Revisions by 6 brokerage analysts pushed the consensus earnings estimate up to $1.02 per share. HPQ has topped expectations for 16 consecutive quarters and another positive surprise seems likely.
How traders will respond to the company's fiscal 2009 outlook is unknown. HPQ's preliminary fiscal 2009 forecast calls for non-GAAP earnings of $3.88 to $4.03 per share. Cuts by 6 brokerage analysts last week lowered the consensus earnings estimate by 10 cents to $3.84 per share, however. Hewlett-Packard is scheduled to report on Monday, Nov 24, after the close of trading.
Companies That Could Issue Negative Earnings Surprises
CBRL Group Inc (CBRL) has missed disappointed investors during 3 out of the last 4 quarters. Several analysts have cut their projections for the company recently, amid fears of further weakness in the casual dining sector. The average forecast for the third quarter is now pegged at 51 cents per share, down from 55 cents a month ago. The most accurate estimate is slightly more bearish at 50 cents per share. CBRL Group is scheduled to report earnings on Monday, Nov 24, before the start of trading.
Eaton Vance Corporation (EV) is getting hit amid the bearish outlook for the wider asset management industry. The consensus estimate for EV’s fiscal fourth-quarter earnings has been cut to 35 cents during the past 30 days, reflecting cuts by 5 brokerage analysts. The most accurate estimate is more bearish at 34 cents per share. Eaton Vance is scheduled to report earnings on Tueday, Nov 25, before the start of trading.
Charles Rotblut, CFA is the senior market analyst for Zacks.com. He can be reached at crotblut@zacks.com.
Aditi Samajpati contributed to this article.
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 Nov 24 - 281. Prices are as of Thursday's, Nov 20, close.
| Company | Ticker | Zacks Consensus Estimate | Year Ago Actual | Last Qtr Surprise | Report Date | Report Time | Price |
| Analog Devices | ADI | $0.45 | $0.39 | (2.2%) | 11/24/2008 | AMC | $16.94 |
| Atwood Oceanics | ATW | $1.13 | $0.85 | 2.2% | 11/24/2008 | AMC | $15.34 |
| Campbell Soup | CPB | $0.76 | $0.70 | 4.0% | 11/24/2008 | BTO | $35.42 |
| Cbrl Group Inc | CBRL | $0.51 | $0.57 | (1.1%) | 11/24/2008 | BTO | $11.77 |
| Chinaedu Cp-Adr | CEDU | $0.05 | N/A | 0.0% | 11/24/2008 | AMC | $3.77 |
| Citi Trends Inc | CTRN | ($0.11) | ($0.04) | 17.6% | 11/24/2008 | AMC | $8.04 |
| Donaldson Co | DCI | $0.57 | $0.53 | (1.6%) | 11/24/2008 | AMC | $24.38 |
| Dycom Inds | DY | $0.21 | $0.37 | 9.5% | 11/24/2008 | AMC | $5.13 |
| Hewlett Packard | HPQ | $1.02 | $0.86 | 3.6% | 11/24/2008 | AMC | $31.83 |
| Ituran Location | ITRN | $0.23 | $0.16 | (4.8%) | 11/24/2008 | BTO | $6.21 |
| Nuance Comm Inc | NUAN | $0.18 | $0.18 | 58.3% | 11/24/2008 | AMC | $6.50 |
| Skillsoft Plc | SKIL | $0.10 | $0.08 | 42.9% | 11/24/2008 | AMC | $6.54 |
| Star Bulk Carrs | SBLK | $0.40 | N/A | 0.0% | 11/24/2008 | AMC | $2.18 |
| Univl Tech Inst | UTI | $0.06 | $0.08 | (160.0%) | 11/24/2008 | AMC | $14.34 |
| Valspar Corp | VAL | $0.43 | $0.43 | 0.0% | 11/24/2008 | BTO | $14.57 |
| Amer Eagle Outf | AEO | $0.30 | $0.45 | 3.6% | 11/25/2008 | BTO | $7.11 |
| Amer Woodmark | AMWD | ($0.06) | $0.08 | (90.9%) | 11/25/2008 | BTO | $14.04 |
| Bank Montreal | BMO | $1.16 | $1.41 | (19.2%) | 11/25/2008 | N/A | $25.70 |
| Blue Coat Sys | BCSI | $0.11 | $0.19 | 0.0% | 11/25/2008 | AMC | $7.26 |
| Borders Group | BGP | ($0.54) | ($0.66) | 35.7% | 11/25/2008 | AMC | $1.37 |
| Brown Shoe Co | BWS | $0.17 | $0.61 | (16.7%) | 11/25/2008 | BTO | $5.19 |
| Charming Shoppe | CHRS | ($0.36) | ($0.03) | 400.0% | 11/25/2008 | BTO | $0.76 |
| Chicos Fas Fnc | CHS | ($0.02) | $0.11 | 0.0% | 11/25/2008 | BTO | $1.89 |
| China Sunergy | CSUN | $0.10 | ($0.11) | 166.7% | 11/25/2008 | BTO | $1.54 |
| Coldwater Creek | CWTR | ($0.08) | ($0.07) | 200.0% | 11/25/2008 | AMC | $1.05 |
| D R Horton Inc | DHI | ($1.79) | ($0.16) | 22.3% | 11/25/2008 | BTO | $4.52 |
| Daktronics Inc | DAKT | $0.20 | $0.19 | 33.3% | 11/25/2008 | BTO | $6.35 |
| Delias Inc | DLIA | $0.07 | $0.00 | 5.9% | 11/25/2008 | AMC | $1.65 |
| Dollar Tree Inc | DLTR | $0.44 | $0.38 | 5.0% | 11/25/2008 | BTO | $34.18 |
| Dsw Inc Cl-A | DSW | $0.28 | $0.51 | 127.3% | 11/25/2008 | BTO | $8.23 |
| Eaton Vance | EV | $0.35 | $0.52 | (13.0%) | 11/25/2008 | BTO | $12.36 |
| Elbit Systems | ESLT | $0.81 | $0.62 | 4.3% | 11/25/2008 | BTO | $39.93 |
| Fleetwood Entrp | FLE | ($0.44) | ($0.02) | (127.8%) | 11/25/2008 | BTO | $0.15 |
| Genesco Inc | GCO | $0.51 | $0.39 | 350.0% | 11/25/2008 | BTO | $11.40 |
| Hillenbrand Inc | HI | $0.31 | N/A | N/A | 11/25/2008 | BTO | $14.42 |
| Hormel Foods Cp | HRL | $0.48 | $0.70 | 0.0% | 11/25/2008 | BTO | $26.69 |
| Indevus Pharma | IDEV | ($0.15) | ($0.12) | (8.7%) | 11/25/2008 | BTO | $1.82 |
| J Crew Group | JCG | $0.28 | $0.42 | (15.2%) | 11/25/2008 | AMC | $8.89 |
| Netezza Corp | NZ | $0.04 | $0.02 | 66.7% | 11/25/2008 | AMC | $5.82 |
| Qad Inc | QADI | $0.00 | $0.05 | 0.0% | 11/25/2008 | AMC | $3.90 |
| Seachange Intl | SEAC | $0.06 | $0.11 | 66.7% | 11/25/2008 | AMC | $6.77 |
| Sourceforge Inc | LNUX | ($0.03) | $0.00 | (300.0%) | 11/25/2008 | AMC | $0.65 |
| Talbots Inc | TLB | $0.04 | ($0.10) | 0.0% | 11/25/2008 | BTO | $2.15 |
| Tech Data Corp | TECD | $0.64 | $0.73 | (2.2%) | 11/25/2008 | BTO | $15.99 |
| Tivo Inc | TIVO | ($0.06) | ($0.08) | 250.0% | 11/25/2008 | AMC | $5.08 |
| Utd Natural Fds | UNFI | $0.30 | $0.32 | 0.0% | 11/25/2008 | BTO | $18.39 |
| Verigy Ltd | VRGY | $0.15 | $0.57 | 3.6% | 11/25/2008 | AMC | $8.24 |
| Vimpel-Comm-Adr | VIP | $0.47 | $0.45 | (8.0%) | 11/25/2008 | BTO | $6.99 |
| Warner Music Gp | WMG | ($0.02) | $0.01 | 62.5% | 11/25/2008 | BTO | $2.66 |
| Zale Corp New | ZLC | ($0.96) | ($0.54) | 11.11% | 11/25/2008 | BTO | $8.08 |
| China Nepstar | NPD | $0.05 | $0.04 | N/A | 11/26/2008 | BTO | $2.87 |
| Conns Inc | CONN | $0.21 | $0.28 | 7.9% | 11/26/2008 | BTO | $6.72 |
| Deere & Co | DE | $0.99 | $0.94 | (3.7%) | 11/26/2008 | BTO | $28.77 |
| Descartes Sys | DSGX | $0.05 | $0.03 | (40.0%) | 11/26/2008 | BTO | $2.28 |
| Elong Inc-Adr | LONG | ($0.08) | ($0.04) | (800.0%) | 11/26/2008 | N/A | $6.89 |
| Freds Inc | FRED | $0.15 | $0.12 | 0.0% | 11/26/2008 | BTO | $8.74 |
| Shamir Optical | SHMR | $0.11 | $0.14 | 45.5% | 11/26/2008 | BTO | $3.03 |
| Tiffany & Co | TIF | $0.27 | $0.27 | 14.6% | 11/26/2008 | BTO | $17.86 |
| Yingli Green En | YGE | $0.23 | $0.18 | 19.0% | 11/26/2008 | BTO | $2.56 |
| Frontline Ltd | FRO | $1.70 | $0.26 | (8.4%) | 11/28/2008 | N/A | $25.19 |
| Golar Lng Ltd | GLNG | $0.08 | ($0.14) | (100.0%) | 11/28/2008 | N/A | $4.08 |
BMO = Before The Market Open, AMC = After Market Close
1Some of the companies listed in the earnings calendar may not be in the Zacks Rank universe.
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