Earnings Preview for Sep 22 – 26 – Earnings Preview
Source: http://www.zacks.com/commentary/8644/Earnings+Preview+for+Sep+22+-+26+-+Earnings+PreviewPosted on Thursday, September 18th, 2008 | In Stocks to Watch
The big bailout will be a key focus of the markets.
Congress is expected to meet over the weekend to discuss legislation proposed by Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson. The details of the proposal, and any additional measures designed to help homeowners struggling with mortgage payments, could impact market direction.
The temporary ban on short selling could also affect trading early in the week. Part of Friday’s rally was the result of quadruple witching. Traders are being forced to close short positions rather than roll them over into new contracts.
On the earnings front, we have confirmed reports from 33 companies. Included in this group are S&P 500 members Autozone (AZO), Bed Bath & Beyond (BBBY), Discover Financial (DFS), Jabil Circuit (JBL), KB Home (KBH), Lennar (LEN), McCormick (MKC), Nike (NKE) and Paychex (PAYX). I expect only limited reaction to the homebuilders (KBH and LEN), because of the proposal under discussion.
The economic calendar includes two reports on August home sales, but is otherwise light.
- Wednesday: August existing home sales, weekly crude inventories
- Thursday: August durable goods orders, August new home sales, weekly initial jobless claims
- Friday: Final September University of Michigan consumer confidence survey, final Q2 GDP
Bernanke has three scheduled appearances before Congress.
On Tuesday, he will discuss the financial markets before the Senate banking committee. The chairman will provide his economic outlook to the Joint Economic Committee on Wednesday. Finally, on Thursday, Bernanke will review the recent proposals and actions before the House financial services committee.
Companies That Could Issue Positive Earnings Surprises
AutoZone Inc. (AZO) has topped market expectations twice in the last three quarters. Ahead of the company’s fiscal fourth-quarter report, brokerage analysts have raised their forecasts. The consensus earnings estimate now calls for earnings of $3.90 per share, a penny higher than a week ago. The most accurate estimate is even more bullish at $3.92 per share. Autozone is scheduled to report on Monday, Sep 22, before the start of trading.
Companies That Could Issue Negative Earnings Surprises
H.B. Fuller (FUL) recently cut its profit forecast, citing high costs of raw materials. The chemical manufacturing company now expects third-quarter earnings of 35 cents per share, excluding a tax benefit. Brokerage analysts responded by lowering their forecasts to 35 cents per share from 48 cents per share. FUL has missed consensus earnings estimates in two consecutive quarters. H.B. Fuller will report on Tuesday, Sep 23, after the close 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 Sep 22 – 261.
| Company | Ticker | Zacks Consensus Estimate | Year Ago Actual | Last Qtr Surprise | Report Date | Report Time |
| 3Com Corp | COMS | $0.06 | $0.02 | 50.0% | 9/22/2008 | AMC |
| Autozone Inc | AZO | $3.90 | $3.23 | 3.1% | 9/22/2008 | BTO |
| Carmax Gp (Cc) | KMX | $0.11 | $0.29 | (31.8%) | 9/22/2008 | BTO |
| Factset Resh | FDS | $0.64 | $0.58 | 3.2% | 9/23/2008 | BTO |
| Fuller(Hb) Co | FUL | $0.35 | $0.46 | (2.2%) | 9/23/2008 | AMC |
| Lennar Corp -A | LEN | ($0.53) | ($3.25) | (43.4%) | 9/23/2008 | BTO |
| Qualstar Corp | QBAK | ($0.03) | $0.02 | (200.0%) | 9/23/2008 | AMC |
| Worthington Ind | WOR | $0.58 | $0.27 | 71.43% | 9/23/2008 | AMC |
| Bed Bath&Beyond | BBBY | $0.46 | $0.55 | 11.1% | 9/24/2008 | AMC |
| Neogen Corp | NEOG | $0.23 | $0.21 | 5.0% | 9/24/2008 | BTO |
| Nike Inc-B | NKE | $0.93 | $0.92 | 1.0% | 9/24/2008 | AMC |
| Paychex Inc | PAYX | $0.41 | $0.40 | 0.0% | 9/24/2008 | AMC |
| Red Hat Inc | RHT | $0.13 | $0.09 | (38.5%) | 9/24/2008 | AMC |
| Accenture Ltd | ACN | $0.67 | $0.50 | 7.3% | 9/25/2008 | AMC |
| Analogic Corp | ALOG | $0.52 | $0.60 | 1.9% | 9/25/2008 | BTO |
| Christopher&Bnk | CBK | $0.03 | $0.09 | 23.1% | 9/25/2008 | AMC |
| Cra Intl Inc | CRAI | $0.89 | $0.72 | 41.2% | 9/25/2008 | BTO |
| Diamond Foods | DMND | $0.13 | $0.06 | 16.7% | 9/25/2008 | AMC |
| Discover Fin Sv | DFS | $0.35 | $0.42 | 16.7% | 9/25/2008 | BTO |
| Mccormick & Co | MKC | $0.48 | $0.45 | 0.0% | 9/25/2008 | BTO |
| Phc Inc-A | PHC | $0.03 | $0.04 | (75.0%) | 9/25/2008 | N/A |
| Research In Mot | RIMM | $0.87 | $0.50 | (1.2%) | 9/25/2008 | AMC |
| Rite Aid Corp | RAD | ($0.14) | ($0.10) | (122.2%) | 9/25/2008 | BTO |
| Smart Modular | SMOD | $0.04 | $0.17 | (16.7%) | 9/25/2008 | AMC |
| Spectrum Contrl | SPEC | $0.16 | $0.22 | (11.1%) | 9/25/2008 | AMC |
| Synnex Corp | SNX | $0.58 | $0.46 | 7.7% | 9/25/2008 | AMC |
| Texas Inds | TXI | $0.85 | $0.64 | (31.0%) | 9/25/2008 | BTO |
| Tibco Software | TIBX | $0.06 | $0.03 | 0.0% | 9/25/2008 | AMC |
| Vail Resorts | MTN | ($0.17) | ($0.88) | (8.2%) | 9/25/2008 | BTO |
| Amer Greetings | AM | $0.15 | $0.16 | (55.0%) | 9/26/2008 | BTO |
| Azz Inc | AZZ | $0.80 | $0.66 | 51.8% | 9/26/2008 | BTO |
| Jabil Circuit | JBL | $0.25 | $0.26 | 69.2% | 9/26/2008 | BTO |
| Kb Home | KBH | ($1.57) | ($6.19) | (258.7%) | 9/26/2008 | BTO |
| Solera Holdings | SLH | $0.29 | $0.23 | 10.7% | 8/27/2008 | AMC |
| Sport Supply Gp | RBI | $0.15 | ($0.03) | 13.6% | 8/27/2008 | BTO |
| Sws Group Inc | SWS | $0.28 | $0.25 | 33.3% | 8/27/2008 | AMC |
| Synovis Lif Tec | SYNO | $0.11 | $0.10 | 11.1% | 8/27/2008 | BTO |
| Talbots Inc | TLB | ($0.33) | ($0.25) | 75.0% | 8/27/2008 | BTO |
| Tivo Inc | TIVO | ($0.02) | ($0.11) | 500.0% | 8/27/2008 | AMC |
| Valuevision Cla | VVTV | ($0.27) | ($0.11) | (28.1%) | 8/27/2008 | AMC |
| Xeta Tech Inc | XETA | $0.05 | $0.04 | 0.0% | 8/27/2008 | AMC |
| Aruba Networks | ARUN | ($0.06) | ($0.04) | (16.7%) | 8/28/2008 | AMC |
| Ata Inc-Adr | ATAI | $0.06 | $999.00 | N/A | 8/28/2008 | N/A |
| China Fin Onlin | JRJC | $0.14 | $0.08 | 25.0% | 8/28/2008 | AMC |
| Conns Inc | CONN | $0.38 | $0.40 | 19.1% | 8/28/2008 | BTO |
| Credence Sys Cp | CMOS | ($0.05) | $0.09 | (25.0%) | 8/28/2008 | N/A |
| Del Monte Foods | DLM | ($0.05) | $0.03 | 11.5% | 8/28/2008 | BTO |
| Delias Inc | DLIA | ($0.17) | ($0.16) | (62.5%) | 8/28/2008 | AMC |
| Dell Inc | DELL | $0.36 | $0.34 | 11.8% | 8/28/2008 | AMC |
| Dollar Finl Cp | DLLR | $0.59 | $0.48 | (1.8%) | 8/28/2008 | AMC |
| Energy Conv Dev | ENER | $0.20 | ($0.16) | 725.0% | 8/28/2008 | BTO |
| Esterline Tech | ESL | $0.64 | $0.61 | 9.1% | 8/28/2008 | AMC |
| Fleetwood Entrp | FLE | ($0.18) | ($0.03) | 46.2% | 8/28/2008 | BTO |
| Freds Inc | FRED | $0.10 | $0.08 | 12.5% | 8/28/2008 | BTO |
| Genesco Inc | GCO | $0.04 | $0.00 | 55.6% | 8/28/2008 | BTO |
| Jamba Inc | JMBA | $0.02 | $0.04 | (55.6%) | 8/28/2008 | AMC |
| Kirklands Inc | KIRK | ($0.12) | ($0.29) | 63.3% | 8/28/2008 | BTO |
| La Barge | LB | $0.27 | $0.18 | 0.0% | 8/28/2008 | BTO |
| Layne Christens | LAYN | $0.62 | $0.60 | 0.0% | 8/28/2008 | BTO |
| Magma Design | LAVA | $0.00 | ($0.03) | (11.1%) | 8/28/2008 | AMC |
| Marvell Tech Gp | MRVL | $0.13 | ($0.04) | 266.7% | 8/28/2008 | AMC |
| Micros Sys | MCRS | $0.33 | $0.33 | 3.5% | 8/28/2008 | AMC |
| Net 1 Ueps Tech | UEPS | $0.38 | $0.31 | 23.7% | 8/28/2008 | AMC |
| Netezza Corp | NZ | $0.03 | ($0.19) | 0.0% | 8/28/2008 | BTO |
| Novell Inc | NOVL | $0.03 | $0.01 | 25.0% | 8/28/2008 | AMC |
| Omnivision Tech | OVTI | $0.16 | $0.15 | (15.0%) | 8/28/2008 | AMC |
| Petsmart Inc | PETM | $0.28 | $0.36 | 3.2% | 8/28/2008 | AMC |
| Royal Bank Cda | RY | $1.05 | $1.03 | (32.0%) | 8/28/2008 | N/A |
| Sears Hldg Cp | SHLD | $0.36 | $1.17 | (394.4%) | 8/28/2008 | BTO |
| Sourceforge Inc | LNUX | ($0.01) | $0.01 | 0.0% | 8/28/2008 | AMC |
| Telvent Git Sa | TLVT | $0.28 | $0.19 | 19.4% | 8/28/2008 | BTO |
| Tiffany & Co | TIF | $0.55 | $0.45 | 22.0% | 8/28/2008 | BTO |
| Toronto Dom Bnk | TD | $1.40 | $1.18 | (7.0%) | 8/28/2008 | BTO |
| Williams-Sonoma | WSM | $0.08 | $0.24 | 400.0% | 8/28/2008 | N/A |
| Wind River Sys | WIND | $0.02 | $0.05 | 144.4% | 8/28/2008 | AMC |
| Zale Corp New | ZLC | ($0.55) | $0.00 | 2.33% | 8/28/2008 | N/A |
| Knightsbridge | VLCCF | $0.54 | $0.42 | (20.9%) | 8/29/2008 | N/A |
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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 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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