Zacks Earnings Preview: Apollo Group, Constellation Brands, General Mills and H&R Block

For Immediate Release

Chicago, IL – June 29, 2009 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes Apollo Group (APOL), Constellation Brands (STZ), General Mills (GIS) and H&R Block (HRB). To see more earnings analysis, visit http://at.zacks.com/?id=3207.

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The Week's Events

This will be a holiday week with a limited number of earnings reports and low volume.

Out of the 19 companies confirmed to report, 4 are in the S&P 500: Apollo Group (APOL), Constellation Brands (STZ), General Mills (GIS) and H&R Block (HRB).

June unemployment and nonfarm payrolls data will be published a day early on Jul 2. Combined with what should be really light volume, the numbers could result in a sizeable market move on Thursday.

• Tuesday: June Conference Board consumer confidence survey, S&P/Case-Schiller housing index, Chicago PMI
• Wednesday: ISM manufacturing survey, ADP employment survey, May pending home sales, May construction spending, June auto sales, weekly crude inventories
• Thursday: June unemployment and nonfarm payrolls, weekly initial jobless claims, May factory orders

No Fed officials are scheduled to speak.

The U.S. financial markets will be closed on Friday, Jul 3. The stock exchanges will operate normal hours on Thursday, Jul 2.

As stated above, this is going to be a light volume week. Any move we see on Thursday should be taken in the context that a lot people are probably going be on vacation or looking to get out of the office early.

Have a great holiday.

Companies That Could Issue Positive Earnings Surprises

Apollo Group (APOL) has topped expectations during 7 out of the last 8 quarters and is currently riding a streak of 8 consecutive positive surprises. Recently, the fiscal third-quarter consensus earnings estimate has risen by a penny. Analysts now expect the education provider to have earned $1.13 per share. Apollo Group is scheduled to report on Monday, Jun 29, after the close of trading.

Companies That Could Issue Negative Earnings Surprises

Two analysts recently cut their forecasts on H&R Block (HRB). The negative revisions have pushed the fiscal fourth-quarter estimate down 3 cents to $2.07 per share. The most accurate estimate is more bearish at $2.07 per share. HRB has missed once over the past 3 quarters. H&R Block is scheduled to report on Monday, Jun 29, after the close of trading.

Charles Rotblut, CFA, is the senior market analyst for Zacks.com.

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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 +26%. 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 underperformed the S&P 500 by 111% annually (-0.8% versus +8%). Thus, the Zacks Rank system allows investors to truly manage portfolio trading effectively.

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Contact: Charles Rotblut, CFA
Company: Zacks.com
Phone: 312-265-9352
Email: pr@zacks.com
Visit: www.Zacks.com

Read the full analyst report on APOL

Read the full analyst report on STZ

Read the full analyst report on GIS

Read the full analyst report on HRB