Earnings Preview for Nov 24 - 28
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 - Analyst Report) will be fellow S&P 500 members Analog Devices (ADI - Analyst Report), Campbell Soup (CPB - Analyst Report), Deere & Co. (DE - Analyst Report), D.R. Horton (DHI - Analyst Report) and Tiffany & Co. (TIF - Analyst Report).
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
Netezza Corporation (NZ - Snapshot Report) 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 - Analyst Report) 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 - Snapshot Report) 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 - Snapshot Report) 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.
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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 - Analyst Report | $0.45 | $0.39 | (2.2%) | 11/24/2008 | AMC | $16.94 |
| Atwood Oceanics | ATW - Snapshot Report | $1.13 | $0.85 | 2.2% | 11/24/2008 | AMC | $15.34 |
| Campbell Soup | CPB - Analyst Report | $0.76 | $0.70 | 4.0% | 11/24/2008 | BTO | $35.42 |
| Cbrl Group Inc | CBRL - Snapshot Report | $0.51 | $0.57 | (1.1%) | 11/24/2008 | BTO | $11.77 |
| Chinaedu Cp-Adr | CEDU - Snapshot Report | $0.05 | N/A | 0.0% | 11/24/2008 | AMC | $3.77 |
| Citi Trends Inc | CTRN - Analyst Report | ($0.11) | ($0.04) | 17.6% | 11/24/2008 | AMC | $8.04 |
| Donaldson Co | DCI - Snapshot Report | $0.57 | $0.53 | (1.6%) | 11/24/2008 | AMC | $24.38 |
| Dycom Inds | DY - Snapshot Report | $0.21 | $0.37 | 9.5% | 11/24/2008 | AMC | $5.13 |
| Hewlett Packard | HPQ - Analyst Report | $1.02 | $0.86 | 3.6% | 11/24/2008 | AMC | $31.83 |
| Ituran Location | ITRN - Snapshot Report | $0.23 | $0.16 | (4.8%) | 11/24/2008 | BTO | $6.21 |
| Nuance Comm Inc | NUAN - Snapshot Report | $0.18 | $0.18 | 58.3% | 11/24/2008 | AMC | $6.50 |
| Skillsoft Plc | SKIL - Snapshot Report | $0.10 | $0.08 | 42.9% | 11/24/2008 | AMC | $6.54 |
| Star Bulk Carrs | SBLK - Snapshot Report | $0.40 | N/A | 0.0% | 11/24/2008 | AMC | $2.18 |
| Univl Tech Inst | UTI - Analyst Report | $0.06 | $0.08 | (160.0%) | 11/24/2008 | AMC | $14.34 |
| Valspar Corp | VAL - Analyst Report | $0.43 | $0.43 | 0.0% | 11/24/2008 | BTO | $14.57 |
| Amer Eagle Outf | AEO - Snapshot Report | $0.30 | $0.45 | 3.6% | 11/25/2008 | BTO | $7.11 |
| Amer Woodmark | AMWD - Snapshot Report | ($0.06) | $0.08 | (90.9%) | 11/25/2008 | BTO | $14.04 |
| Bank Montreal | BMO - Snapshot Report | $1.16 | $1.41 | (19.2%) | 11/25/2008 | N/A | $25.70 |
| Blue Coat Sys | BCSI - Snapshot Report | $0.11 | $0.19 | 0.0% | 11/25/2008 | AMC | $7.26 |
| Borders Group | BGP - Snapshot Report | ($0.54) | ($0.66) | 35.7% | 11/25/2008 | AMC | $1.37 |
| Brown Shoe Co | BWS - Snapshot Report | $0.17 | $0.61 | (16.7%) | 11/25/2008 | BTO | $5.19 |
| Charming Shoppe | CHRS - Snapshot Report | ($0.36) | ($0.03) | 400.0% | 11/25/2008 | BTO | $0.76 |
| Chicos Fas Fnc | CHS - Snapshot Report | ($0.02) | $0.11 | 0.0% | 11/25/2008 | BTO | $1.89 |
| China Sunergy | CSUN - Snapshot Report | $0.10 | ($0.11) | 166.7% | 11/25/2008 | BTO | $1.54 |
| Coldwater Creek | CWTR - Snapshot Report | ($0.08) | ($0.07) | 200.0% | 11/25/2008 | AMC | $1.05 |
| D R Horton Inc | DHI - Analyst Report | ($1.79) | ($0.16) | 22.3% | 11/25/2008 | BTO | $4.52 |
| Daktronics Inc | DAKT - Snapshot Report | $0.20 | $0.19 | 33.3% | 11/25/2008 | BTO | $6.35 |
| Delias Inc | DLIA - Snapshot Report | $0.07 | $0.00 | 5.9% | 11/25/2008 | AMC | $1.65 |
| Dollar Tree Inc | DLTR - Snapshot Report | $0.44 | $0.38 | 5.0% | 11/25/2008 | BTO | $34.18 |
| Dsw Inc Cl-A | DSW - Snapshot Report | $0.28 | $0.51 | 127.3% | 11/25/2008 | BTO | $8.23 |
| Eaton Vance | EV - Snapshot Report | $0.35 | $0.52 | (13.0%) | 11/25/2008 | BTO | $12.36 |
| Elbit Systems | ESLT - Snapshot Report | $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 - Snapshot Report | $0.51 | $0.39 | 350.0% | 11/25/2008 | BTO | $11.40 |
| Hillenbrand Inc | HI - Snapshot Report | $0.31 | N/A | N/A | 11/25/2008 | BTO | $14.42 |
| Hormel Foods Cp | HRL - Snapshot Report | $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 - Snapshot Report | $0.28 | $0.42 | (15.2%) | 11/25/2008 | AMC | $8.89 |
| Netezza Corp | NZ - Snapshot Report | $0.04 | $0.02 | 66.7% | 11/25/2008 | AMC | $5.82 |
| Qad Inc | QADI - Snapshot Report | $0.00 | $0.05 | 0.0% | 11/25/2008 | AMC | $3.90 |
| Seachange Intl | SEAC - Snapshot Report | $0.06 | $0.11 | 66.7% | 11/25/2008 | AMC | $6.77 |
| Sourceforge Inc | LNUX - Snapshot Report | ($0.03) | $0.00 | (300.0%) | 11/25/2008 | AMC | $0.65 |
| Talbots Inc | TLB - Snapshot Report | $0.04 | ($0.10) | 0.0% | 11/25/2008 | BTO | $2.15 |
| Tech Data Corp | TECD - Analyst Report | $0.64 | $0.73 | (2.2%) | 11/25/2008 | BTO | $15.99 |
| Tivo Inc | TIVO - Analyst Report | ($0.06) | ($0.08) | 250.0% | 11/25/2008 | AMC | $5.08 |
| Utd Natural Fds | UNFI - Analyst Report | $0.30 | $0.32 | 0.0% | 11/25/2008 | BTO | $18.39 |
| Verigy Ltd | VRGY - Snapshot Report | $0.15 | $0.57 | 3.6% | 11/25/2008 | AMC | $8.24 |
| Vimpel-Comm-Adr | VIP - Analyst Report | $0.47 | $0.45 | (8.0%) | 11/25/2008 | BTO | $6.99 |
| Warner Music Gp | WMG - Snapshot Report | ($0.02) | $0.01 | 62.5% | 11/25/2008 | BTO | $2.66 |
| Zale Corp New | ZLC - Snapshot Report | ($0.96) | ($0.54) | 11.11% | 11/25/2008 | BTO | $8.08 |
| China Nepstar | NPD - Snapshot Report | $0.05 | $0.04 | N/A | 11/26/2008 | BTO | $2.87 |
| Conns Inc | CONN - Snapshot Report | $0.21 | $0.28 | 7.9% | 11/26/2008 | BTO | $6.72 |
| Deere & Co | DE - Analyst Report | $0.99 | $0.94 | (3.7%) | 11/26/2008 | BTO | $28.77 |
| Descartes Sys | DSGX - Snapshot Report | $0.05 | $0.03 | (40.0%) | 11/26/2008 | BTO | $2.28 |
| Elong Inc-Adr | LONG - Snapshot Report | ($0.08) | ($0.04) | (800.0%) | 11/26/2008 | N/A | $6.89 |
| Freds Inc | FRED - Analyst Report | $0.15 | $0.12 | 0.0% | 11/26/2008 | BTO | $8.74 |
| Shamir Optical | SHMR - Snapshot Report | $0.11 | $0.14 | 45.5% | 11/26/2008 | BTO | $3.03 |
| Tiffany & Co | TIF - Analyst Report | $0.27 | $0.27 | 14.6% | 11/26/2008 | BTO | $17.86 |
| Yingli Green En | YGE - Snapshot Report | $0.23 | $0.18 | 19.0% | 11/26/2008 | BTO | $2.56 |
| Frontline Ltd | FRO - Snapshot Report | $1.70 | $0.26 | (8.4%) | 11/28/2008 | N/A | $25.19 |
| Golar Lng Ltd | GLNG - Snapshot Report | $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.