A brokerage firm just initiated coverage on Tiffany & Co. (TIF) with a buy rating, helping shares of the world-renowned jewelry retailer rise approximately 6%. The gain makes TIF a top-performing Zacks #1 Rank company for Tuesday.

< ?DART(15);?> According to the brokerage analyst, TIF could see positive same-store sales in the fourth quarter, and appears poised to pick up more market share.

Even before today's news though, TIF was in the good graces of several analysts thanks to a solid fiscal second-quarter report that included a raised guidance for 2009.

Earnings estimates have been trending higher, and volume today is around 2.7 million shares. The daily average is 2.6 million shares.

Earnings Estimates

In the fiscal second-quarter report from Aug 28, TIF raised its 2009 earnings from continuing operations guidance to between $1.65 and $1.75. Previously, the outlook had been $1.50 to

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Third-quarter earnings season officially starts on Wednesday afternoon with Alcoa's (AA) report. The aluminum maker is expected to announce revenues of $4.5 billion and a loss of 11 cents per share. The results will look awful compared to last year because the commodity bubble peaked in Q308.

Joining AA will be 6 other S&P 500 members: Costco (COST), Family Dollar (FDO), Marriott (MAR), Monsanto (MON), Pepsi Bottling (PBG), PepsiCo (PEP) and Yum! Brands (YUM). We have confirmed scheduled reports from a total of 24 companies.

Economic data will largely take a backseat to the earnings news. There is comparatively little on the calendar, with the most newsworthy release being the September ISM services index. The weekly energy and mortgage applications reports could still influence trading, however.

Monday: September ISM services survey Wednesday: August consumer credit, September treasury budget, weekly crude inventories, weekly mortgage

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For Immediate Release

Chicago, IL – September 21, 2009 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes AutoZone (AZO), Bed, Bath & Beyond (BBBY), General Mills (GIS), KB Home (KBH), Lennar (LEN), Paychex (PAYX), CarMax (KMX), Research in Motion (RIMM) and Texas Industries (TXI). To see more earnings analysis, visit http://at.zacks.com/?id=3207.

Every day, Zacks.com makes 4 stock picks available, free of charge. To see them, go to http://at.zacks.com/?id=5612.

This Week's Events

We will get another look at initial third-quarter results with 11 S&P 500 companies reporting. Included in this group are AutoZone (AZO), Bed, Bath & Beyond (BBBY), General Mills (GIS), KB Home (KBH), Lennar (LEN) and Paychex (PAYX). A total of 33 companies are on the calendar.

The Fed will hold a 2-day

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We will get another look at initial third-quarter results with 11 S&P 500 companies reporting. Included in this group are AutoZone (AZO), Bed, Bath & Beyond (BBBY), General Mills (GIS), KB Home (KBH), Lennar (LEN) and Paychex (PAYX). A total of 33 companies are on the calendar.

The Fed will hold a 2-day meeting starting on Tuesday. No change in rates is expected at either this or the November meeting. Traders will be looking for insight about the pace of recovery and updates on the various bailout programs.

In addition to the Fed meeting, the economic calendar features August Leading Indicators and home sales data.

Monday: August Leading Indicators Tuesday: Federal Housing Finance Agency (FHFA) House Price Index Wednesday: FOMC rate decision (about 2:10 pm), weekly crude inventories, weekly mortgage applications Thursday: August existing home sales, weekly initial jobless claims, weekly natural gas inventories Friday: August new home

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For Immediate Release

Chicago, IL - June 22, 2009 - Zacks.com releases the list of companies likely to issue earnings surprises. This week's list includes Oracle (ORCL), Micron (MU), Monsanto (MON), Bank of America (BAC), KB Home (KBH), Lennar (LEN) and CKE Restaurants (CKR). To see more earnings analysis, visit http://at.zacks.com/?id=3207.

Every day, Zacks.com makes 4 stock picks available, free of charge. To see them, go to http://at.zacks.com/?id=5612.

The Week's Events

We'll see another round of early second-quarter results this week. A total of 42 companies are scheduled to report, including 14 S&P 500 members. Oracle (ORCL), Micron (MU) and Monsanto (MON) will be among the mostly closely-watched reports.

The Fed will also grab traders' attention. A 2-day meeting is scheduled for

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For Immediate Release

Chicago, IL - June 22, 2009 - Zacks.com releases the list of companies likely to issue earnings surprises. This week's list includes Oracle (ORCL), Micron (MU), Monsanto (MON), Bank of America (BAC), KB Home (KBH), Lennar (LEN) and CKE Restaurants (CKR). To see more earnings analysis, visit http://at.zacks.com/?id=3207.

Every day, Zacks.com makes 4 stock picks available, free of charge. To see them, go to http://at.zacks.com/?id=5612.

The Week's Events

We'll see another round of early second-quarter results this week. A total of 42 companies are scheduled to report, including 14 S&P 500 members. Oracle (ORCL), Micron (MU) and Monsanto (MON) will be among the mostly closely-watched reports.

The Fed will also grab traders' attention. A 2-day meeting is scheduled for

...

We'll see another round of early second-quarter results this week. A total of 42 companies are scheduled to report, including 14 S&P 500 members. Oracle (...