Zacks Earnings Preview: Celgene, Goodyear Tire, Aflac, Owens Illinois and Masco

For Immediate Release

Chicago, IL – October 24, 2011 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes Celgene (CELG - Analyst Report), Goodyear Tire (GT - Analyst Report), Aflac (AFL - Analyst Report), Owens Illinois (OI - Analyst Report) and Masco (MAS - Analyst Report). To see more earnings analysis, visit http://at.zacks.com/?id=3207.

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All About the Three E’s

If you thought the past week was a busy one for earnings, you ain’t seen nothing yet.  This coming week will be much busier. A total of 932 firms are scheduled to report, including 189 of the S&P 500. The table at the end of this report reads like a who’s who of American Industry.

It will also be a heavy week for economic data. We have two measures of consumer sentiment: the Consumer Confidence Index and the University of Michigan Survey. We also get more insight into the housing market with the Case-Schiller Housing Price Index and the numbers on New Home Sales. Along the way, we find out about both Durable Goods orders and Personal Income and Spending. Last but not least is the biggest number of all: the first look at GDP growth in the third quarter.

The best indicators of firms likely to report positive surprises are a recent history of positive surprises and rising estimates going into the report. The Zacks Rank is also a good indicator of potential surprises. Similarly, a recent history of earnings disappointments, cuts in the average estimate for the quarter in the month before the report is due and a poor Zacks Rank (#4 or #5) are often red flags pointing to a potential disappointing earnings report.

In the Earnings Calendar below, $999.00 should be read as N.A.  

Potential Positive Surprises

Celgene (CELG - Analyst Report) is expected to earn $0.86 per share, up from $0.65 a year ago. Last time out it had a positive surprise of 1.30%, and over the last four weeks analysts have raised their estimates by 0.73% for the quarter. CELG is a Zacks #1 Ranked stock.

Goodyear Tire (GT - Analyst Report) is expected to earn $0.25 per share versus EPS of $0.13 a year ago. Last time out it had a positive surprise of 140.74%, and over the last four weeks analysts have raised their estimates by 15.15% for the quarter. GT is a Zacks #2 Ranked stock.

Aflac (AFL - Analyst Report) is expected to earn $1.60 per share versus EPS of $1.45 a year ago. Last time out it had a positive surprise of 1.30%, and over the last four weeks analysts have raised their estimates by 0.94% for the quarter. AFL is a Zacks #2 Ranked stock.

Potential Negative Surprises

Owens Illinois (OI - Analyst Report) is expected to earn $0.72 per share versus EPS of $0.90 a year ago. Last time out it had a negative surprise of 4.84%, and over the last four weeks analysts have cut their estimates by 0.59% for the quarter. OI is a Zacks #5 Ranked stock.

Masco (MAS - Analyst Report) is expected to earn $0.08 per share versus EPS of $0.11 a year ago. Last time out it had a negative surprise of 37.50%, and over the last four weeks analysts have cut their estimates by 3.17% for the quarter. MAS is a Zacks #5 Ranked stock.

Dirk Van Dijk, CFA, is the Chief Equity Strategist for Zacks.com.

About the Zacks Rank

Since 1988, the Zacks Rank has proven that "Earnings estimate revisions are the most powerful force impacting stock prices." Since inception in 1988, #1 Rank Stocks have generated an average annual return of +28%. During the 2000-2002 bear market, Zacks #1 Rank stocks gained +43.8%, while the S&P 500 tumbled -37.6%. Also note that the Zacks Rank system has just as many Strong Sell recommendations (Rank #5) as Strong Buy recommendations (Rank #1). Since 1988, Zacks Rank #5 stocks have significantly underperformed the S&P 500 (+3% versus +10%). Thus, the Zacks Rank system allows investors to truly manage portfolio trading effectively.

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Contact: Dirk Van Dijk, CFA
Company: Zacks.com
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Read the full analyst report on CELG

Read the full analyst report on GT

Read the full analyst report on AFL

Read the full analyst report on OI

Read the full analyst report on MAS