Earnings Preview for Apr 13 – 17 – Earnings Preview
Source: http://www.zacks.com/commentary/10557/Earnings+Preview+for+Apr+13+-+17+-+Earnings+PreviewPosted on Thursday, April 9th, 2009 | In Market Commentary, Stocks to Watch
Intel Corporation (INTC) and Crown Holdings (CCK) could top expectations. CSX Corporation (CSX) and Mattel, Inc. (MAT) could disappoint.
This will be the first busy week for earnings season. Though the total number of reports is limited, just 68, nearly half will be from large-cap and mega-cap companies.
Financials will be in particular focus. Citigroup (C), Goldman Sachs (GS) and JPMorgan Chase (JPM) will release results. General Electric (GE) is also on the docket and all eyes will be on its finance division.
Outside the financial sector, reports from Intel (INTC), Johnson & Johnson (JNJ) and Google (GOOG) could impact market direction.
The Fed will add to the potential volatility with Wednesday afternoon’s release of the Beige Book. Inflation and housing data are also on the economic calendar.
- Tuesday: March Producer Price Index (PPI), March auto sales, February business inventories
- Wednesday: March Consumer Price Index (CPI), April Empire State manufacturing index, March industrial production and capacity utilization, weekly crude inventories, Fed Beige Book
- Thursday: March housing starts and building permits, April Philadelphia Fed survey, weekly initial jobless claims
- Friday: Preliminary April University of Michigan consumer confidence survey
The Federal Reserve’s web site is not listing any upcoming speeches from Fed officials. The next Fed meeting will occur on Apr 28 and 29.
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April stock options will expire on Friday.
How results from the financial companies are perceived could have the biggest impact on market direction. Financial stocks have been trading off of sentiment (as opposed to fundamentals or technicals), so sentiment about the quarterly reports will matter much more than the actual numbers themselves.
Companies That Could Issue Positive Earnings Surprises
Six brokerage analysts have raised their first-quarter earnings estimates on Intel Corporation (INTC) within the past 30 days. Though the consensus estimate remains unchanged at 3 cents per share despite the revisions, the most accurate estimate calls for profits of 4 cents per share. Guidance could be better-than-feared given recent increases in full-year forecasts. The chipmaker has topped expectations during 3 out of the last 4 quarters. Intel is scheduled to report on Tuesday, Apr 14, after the close of trading.
Crown Holdings (CCK) has topped expectations during 6 out of the last 7 quarters. Though one analyst did recently lower his first-quarter profit projection, the consensus earnings estimate remains unchanged at 21 cents per share. There is risk, but the historic trend bodes well for another positive surprise. CCK is scheduled to report on Thursday, Apr 16, before the start of trading.
Companies That Could Issue Negative Earnings Surprises
More than half of the covering brokerage analysts have cut their first-quarter profit projections on CSX Corporation (CSX) during the past few weeks. The negative revisions have caused the consensus earnings estimate to fall 8 cents to 54 cents per share. The most accurate estimate is even more bearish at 50 cents per share. The railroad company has missed expectations once over the past 3 quarters. CSX is scheduled to report on Wednesday, Apr 15, before the start of trading.
Mattel, Inc. (MAT) has missed expectations during 3 out of the last 4 quarters, and analysts are bracing for another disappointment. Negative revisions by 3 of the 15 covering brokerage analysts over the past few weeks have sent the first-quarter consensus estimate a penny lower to a loss of 13 cents per share. The most accurate estimate is more bearish and calls for a loss of 17 cents per share. Mattel is scheduled to report on Friday, Apr 17, before the start of trading.
Charles Rotblut, CFA is the senior market analyst for Zacks.com. He can be reached at crotblut@zacks.com.
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Earnings Calendar
Here is a list of companies that we have confirmed will report during the week of Apr 13 – 171. Prices are as of Tuesday’s, Apr 7, market close.
| Company | Ticker | Zacks Consensus Estimate |
Year Ago Actual |
Last Qtr Surprise |
Date | Time | Price |
| Bank Ozarks | OZRK | $0.52 | $0.46 | 3.8% | 4/13 | AMC | $21.46 |
| China Grenrech | GRRF | ($0.23) | ($0.24) | 0.0% | 4/14 | AMC | $1.70 |
| Csx Corp | CSX | $0.54 | $0.80 | 0.0% | 4/14 | AMC | $27.81 |
| Fastenal | FAST | $0.34 | $0.46 | 2.4% | 4/14 | BTO | $35.85 |
| Goldman Sachs | GS | $1.35 | $3.23 | (37.7%) | 4/14 | BTO | $116.08 |
| Grainger W W | GWW | $1.10 | $1.43 | 9.7% | 4/14 | BTO | $72.27 |
| Intel Corp | INTC | $0.03 | $0.29 | 0.0% | 4/14 | AMC | $15.45 |
| Johnson & Johns | JNJ | $1.21 | $1.26 | 2.2% | 4/14 | BTO | $51.36 |
| Linear Tec Corp | LLTC | $0.22 | $0.44 | 2.9% | 4/14 | N/A | $22.34 |
| Abbott Labs | ABT | $0.70 | $0.63 | 0.0% | 4/15 | BTO | $42.92 |
| Acergy Sa | ACGY | $0.17 | $0.20 | 25.0% | 4/15 | BTO | $6.26 |
| Adtran Inc | ADTN | $0.23 | $0.26 | 3.6% | 4/15 | N/A | $16.89 |
| Aptargroup Inc | ATR | $0.38 | $0.52 | 4.6% | 4/15 | AMC | $31.70 |
| Crown Hldgs Inc | CCK | $0.21 | $0.17 | 29.4% | 4/15 | AMC | $21.93 |
| Datalink Corp | DTLK | ($0.06) | $0.04 | (30.0%) | 4/15 | AMC | $2.87 |
| Infosys Tec-Adr | INFY | $0.55 | $0.54 | 0.0% | 4/15 | BTO | $28.19 |
| Landstar System | LSTR | $0.29 | $0.45 | (2.1%) | 4/15 | AMC | $33.59 |
| Lufkin Inds | LUFK | $1.42 | $1.01 | 25.3% | 4/15 | BTO | $37.39 |
| Mercantile Bank | MBWM | ($0.03) | ($0.44) | 300.0% | 4/15 | N/A | $5.65 |
| Peabody Energy | BTU | $0.96 | $0.26 | 46.0% | 4/15 | BTO | $26.37 |
| Piper Jaffray | PJC | ($0.18) | ($0.22) | 38.6% | 4/15 | BTO | $25.54 |
| Progressive Cor | PGR | $0.41 | $0.35 | (11.8%) | 4/15 | BTO | $13.57 |
| Stanley Furn Co | STLY | ($0.04) | $0.12 | (250.0%) | 4/15 | AMC | $7.84 |
| Univl Fst Prods | UFPI | ($0.21) | ($0.24) | 81.8% | 4/15 | AMC | $28.40 |
| Amer River Bsh | AMRB | $0.29 | $0.31 | (3.0%) | 4/16 | BTO | $9.45 |
| Amphenol Corp-A | APH | $0.40 | $0.54 | 6.0% | 4/16 | BTO | $28.90 |
| Assoc Banc Corp | ASBC | $0.25 | $0.52 | (66.7%) | 4/16 | N/A | $15.18 |
| Baxter Intl | BAX | $0.81 | $0.74 | 2.3% | 4/16 | BTO | $48.32 |
| Briggs & Stratt | BGG | $0.65 | $0.75 | 50.0% | 4/16 | BTO | $16.00 |
| Courier Corp | CRRC | $0.16 | $0.27 | 100.0% | 4/16 | BTO | $16.15 |
| Cypress Semicon | CY | ($0.46) | ($0.08) | 9.1% | 4/16 | BTO | $6.90 |
| Cytec Inds Inc | CYT | $0.31 | $1.08 | (23.1%) | 4/16 | AMC | $16.83 |
| Fairchild Semi | FCS | ($0.32) | $0.19 | 20.0% | 4/16 | BTO | $4.45 |
| Gannett Inc | GCI | $0.25 | $0.77 | 3.7% | 4/16 | BTO | $2.69 |
| Genuine Parts | GPC | $0.50 | $0.75 | (6.8%) | 4/16 | BTO | $30.77 |
| Google Inc-Cl A | GOOG | $4.24 | $4.12 | 3.5% | 4/16 | AMC | $358.65 |
| Harley-Davidson | HOG | $0.52 | $0.79 | (40.4%) | 4/16 | BTO | $16.10 |
| Icu Medical Inc | ICUI | $0.30 | $0.20 | 41.9% | 4/16 | AMC | $30.89 |
| Ill Tool Works | ITW | $0.15 | $0.79 | 14.9% | 4/16 | BTO | $30.71 |
| Insteel Inds | IIIN | ($0.04) | $0.39 | (23.1%) | 4/16 | BTO | $6.39 |
| Intuitive Surg | ISRG | $1.06 | $1.12 | (1.6%) | 4/16 | AMC | $96.78 |
| Jpmorgan Chase | JPM | $0.32 | $0.68 | (2150.0%) | 4/16 | BTO | $27.25 |
| Knoll Inc | KNL | $0.20 | $0.36 | 23.8% | 4/16 | BTO | $6.34 |
| Mission West | MSW | $0.13 | $0.14 | (14.3%) | 4/16 | N/A | $6.45 |
| Parker Hannifin | PH | $0.56 | $1.49 | 12.9% | 4/16 | BTO | $36.61 |
| Peoples Utd Fin | PBCT | $0.10 | $0.15 | (15.4%) | 4/16 | AMC | $17.90 |
| Polaris Indus | PII | $0.20 | $0.55 | 1.8% | 4/16 | BTO | $23.94 |
| Ppg Inds Inc | PPG | $0.13 | $1.07 | 2.5% | 4/16 | N/A | $42.80 |
| Renaissnce Lrng | RLRN | $0.09 | $0.09 | 16.7% | 4/16 | AMC | $8.89 |
| Sherwin William | SHW | $0.21 | $0.65 | 13.2% | 4/16 | BTO | $50.83 |
| Simmons First A | SFNC | $0.34 | $0.45 | 0.0% | 4/16 | BTO | $25.68 |
| Sonoco Products | SON | $0.30 | $0.54 | 0.0% | 4/16 | BTO | $21.50 |
| Southwest Air | LUV | $0.04 | $0.06 | 33.3% | 4/16 | BTO | $6.75 |
| Titan Machinery | TITN | $0.21 | N/A | 95.7% | 4/16 | BTO | $10.10 |
| Ultratech Step | UTEK | $0.04 | $0.08 | 21.4% | 4/16 | BTO | $11.63 |
| Umpqua Hldgs Cp | UMPQ | $0.01 | $0.23 | (58.3%) | 4/16 | BTO | $9.16 |
| Usa Truck Inc | USAK | ($0.06) | ($0.19) | 80.0% | 4/16 | AMC | $12.81 |
| Valmont Inds | VMI | $1.09 | $1.13 | 4.8% | 4/16 | N/A | $51.87 |
| Vascular Solutn | VASC | $0.06 | $0.01 | (25.0%) | 4/16 | AMC | $6.28 |
| Vertex Pharm | VRTX | ($0.83) | ($0.72) | -3.26% | 4/16 | AMC | $26.23 |
| Bb&T Corp | BBT | $0.33 | $0.73 | (13.7%) | 4/17 | BTO | $16.90 |
| Citigroup Inc | C | ($0.29) | ($1.02) | (113.8%) | 4/17 | BTO | $2.76 |
| First Hrzn Natl | FHN | ($0.24) | $0.06 | 20.6% | 4/17 | BTO | $11.05 |
| Genl Electric | GE | $0.23 | $0.44 | 0.0% | 4/17 | BTO | $10.65 |
| Mattel Inc | MAT | ($0.13) | ($0.13) | (31.0%) | 4/17 | BTO | $12.54 |
| Media Genl A | MEG | ($0.05) | ($0.44) | (15.2%) | 4/17 | BTO | $2.06 |
| Prosperity Bcsh | PRSP | $0.54 | $0.52 | 6.5% | 4/17 | BTO | $27.79 |
| Smith (Ao) Corp | AOS | $0.41 | $0.72 | 3.6% | 4/17 | BTO | $25.83 |
BTO = Before The Market Open, AMC = After The Market Close
1Some of the companies listed in the earnings
calendar may not be in the Zacks Rank universe.
Last 5 posts by Charles Rotblut
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 About Charles Rotblut (http://www.zacks.com/)
Charles Rotblut is the Vice President of Web Content for Zacks Investment Research and the Senior Market Analyst for Zacks.com. He oversees the editorial staff, manages the market-beating Focus List, Timely Buys and Top 10 portfolios, and plays an instrumental role in the development of new products. In addition, Mr. Rotblut is spearheading the development of investment education products, including the recently released Zacks Method for Trading. Mr. Rotblut is a Chartered Financial Analyst (CFA). He has analyzed publicly traded and privately held companies. His experience includes working for INVESTools (an investment education company), Curian Capital (a money management firm) and McClure, Schumacher & Associates (a business valuation firm). Mr. Rotblut holds a journalism degree from the University of Kansas. |
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