The economic calendar is also quiet to start the first "real" trading week in September, as Wall Street comes back from August vacations. It's a shortened trading week due to the Labor Day holiday on Monday.

• Monday: Markets closed for Labor Day
• Tuesday: ICSC-Goldman Store Sales, Redbook
• Wednesday: Beige Book
• Thursday: International trade, weekly jobless claims, weekly natural gas inventories, weekly crude inventories
• Friday: Import and export prices, University of Michigan consumer sentiment survey for September, Treasury budget

Companies That Could Issue Negative Earnings Surprises

Smithfield Foods (SFD), the largest hog and pork producer in the U.S., is struggling as pork demand falls due to the recession and worries about pork products somehow being connected to the swine flu. According to a Reuters report, the company has cut its hog breeding herd by 13% this year. Higher feed costs are also pressuring the food manufacturer.

While Smithfield has surprised on estimates 3 out of the last 4 quarters, covering analysts have been lowering the estimates going into the fiscal 2010 first quarter earnings release. In the last month, the Zacks Consensus Estimate has fallen 4 cents to a loss of 55 cents. It is scheduled to report before the market opens on Sep 8.

Keep an eye on the Aerovironment Inc. (AVAV), the maker of unmanned aircraft systems, as it reports its fiscal 2010 first quarter earnings. The Zacks Consensus Estimate has fallen by nearly 50% to 13 cents in the past 90 days. The most accurate estimate is even more bearish at 6 cents per share. The company is scheduled to report on Sep 8 after the market close.

Earnings Calendar

Here is a list of companies that we have confirmed will report during the week of Sep 8 - 11*. Prices are as of Thursday's, Sep 3, market close.

Company	Stock	Zacks Estimate	Year Ago EPS	Last Qtr Surprise	Date	Time	Price
Aceto Corp	ACET	0.11	0.32	-33.33%	9/11/2009	BTO	$6.56
Aerovironment	AVAV	0.13	0.22	3.85%	9/8/2009	AMC	$28.99
Brady Corp Cl A	BRC	0.41	0.64	12.12%	9/11/2009	BTO	$29.79
Caseys Gen Strs	CASY	0.6	0.6	-13.89%	9/8/2009	AMC	$28.26
C&D Tech Inc	CHP	-0.13	0.05	-146.67%	9/8/2009	BTO	$2.08
Campbell Soup	CPB	0.26	0.26	14.29%	9/11/2009	BTO	$30.88
Descartes Sys	DSGX	0.08	0.03	28.57%	9/10/2009	BTO	$4.27
Fuelcell Energy	FCEL	-0.25	-0.39	3.33%	9/8/2009	AMC	$3.43
Finisar Corp	FNSR	0	0.04	0.00%	9/10/2009	N/A	$0.86
Hooker Furnitur	HOFT	0.07	0.18	-100.00%	9/10/2009	N/A	$13.25
Harry Winston	HWD	-0.05	0.81	50.00%	9/10/2009	AMC	$6.82
Investors Rl Es	IRET	0.21	0.2	0.00%	9/9/2009	AMC	$9.07
Wiley (John) A	JW.A	0.38	0.5	-4.55%	9/9/2009	BTO	$31.51
Korn/Ferry Intl	KFY	-0.06	0.36	-83.33%	9/9/2009	BTO	$12.84
K12 Inc	LRN	-0.02	-0.01	9.09%	9/9/2009	BTO	$18.88
Lululemon Athlt	LULU	0.1	0.18	12.50%	9/10/2009	BTO	$19.79
Mds Inc	MDZ	0.01	0.06	-33.33%	9/10/2009	BTO	$7.51
Mitcham Inds	MIND	-0.09	0.16	-116.67%	9/8/2009	AMC	$5.39
Mens Wearhouse	MW	0.59	0.72	0.00%	9/9/2009	AMC	$25.25
Nci Bldg System	NCS	0.02	1.63	-164.29%	9/9/2009	AMC	$2.58
Natl Semicon	NSM	0.07	0.33	40.91%	9/10/2009	AMC	$15.39
Omega Navigat-A	ONAV	0.2	0.38	-5.88%	9/8/2009	AMC	$4.02
Ocean Power Tec	OPTT	-0.44	-0.38	33.96%	9/9/2009	N/A	$3.84
Pep Boys M M &J	PBY	0.15	0.11	50.00%	9/8/2009	AMC	$8.70
Piedmont Nat Ga	PNY	-0.11	-0.1	10.61%	9/9/2009	BTO	$24.24
Safe Bulkers	SB	0.61	0.82	75.38%	9/8/2009	AMC	$6.83
Smithfield Food	SFD	-0.55	-0.02	3.51%	9/8/2009	BTO	$12.73
Shuffle Master	SHFL	0.07	0.11	50.00%	9/9/2009	AMC	$7.25
Signet Grp Plc	SIG	0.21	0.24	34.78%	9/9/2009	N/A	$23.51
Stewart Entrp A	STEI	0.08	0.1	37.50%	9/10/2009	N/A	$5.12
Smith & Wesson	SWHC	0.09	0.05	190.00%	9/9/2009	AMC	$5.19
Titan Machinery	TITN	0.18	0.19	-23.08%	9/9/2009	BTO	$11.89
Talbots Inc	TLB	-0.52	-0.34	53.06%	9/9/2009	BTO	$6.42
Utd Natural Fds	UNFI	0.36	0.3	14.71%	9/9/2009	BTO	$27.43
Xinyuan Real Es	XIN	0.05	0.1	140.00%	9/8/2009	BTO	$4.76
Zale Corp New	ZLC	-0.77	-0.48	-57.41%	9/9/2009	BTO	$5.55
Ciena Corp	CIEN	($0.21)	$0.29	(137.5%)	9/3	BTO	$13.62
Cooper Cos	COO	$0.62	$0.67	27.1%	9/3	AMC	$27.87
Del Monte Foods	DLM	$0.03	($0.04)	34.6%	9/3	BTO	$10.50
Esterline	ESL	$0.90	$0.68	(9.6%)	9/3	AMC	$31.43
G-Iii Apparel	GIII	($0.26)	($0.23)	19.6%	9/3	AMC	$15.21
Jackson Hewitt	JTX	($0.69)	($0.69)	(0.6%)	9/3	BTO	$5.90
Krispy Kreme	KKD	N/A	($0.03)	(1000.0%)	9/3	N/A	$3.11
Layne Christens	LAYN	$0.12	$0.78	(135.3%)	9/3	BTO	$26.86
Methode Elect-A	MEI	($0.24)	$0.27	37.5%	9/3	BTO	$8.76
Movado Grp Inc	MOV	($0.23)	$0.39	22.9%	9/3	BTO	$13.27
Quiksilver Inc	ZQK	$0.04	$0.22	25.0%	9/3	AMC	$2.94
Shanda Interact	SNDA	$0.82	$0.56	8.3%	9/3	AMC	$51.16
Uti Worldwide	UTIW	$0.18	$0.28	(28.6%)	9/3	BTO	$13.15
Ata Inc-Adr	ATAI	$0.08	$0.08	57.1%	9/4	N/A	$7.31
Barry R G Corp	GCFB	$0.00	($0.01)	0.0%	9/4	BTO	$8.50

BTO = Before The Market Open, AMC = After The Market Close

*Some of the companies listed in the earnings calendar may not be in the Zacks Rank universe.

Zacks Investment Research

The economic calendar is pretty packed with the August ISM surveys, August employment data and minutes from the last Fed meeting all scheduled to be released. Adding to the potential volatility will be light volume, particularly on Friday afternoon as many traders leave early for the holiday.

• Monday: August Chicago PMI
• Tuesday: August ISM manufacturing index, August auto sales, July construction spending, July pending home sales
• Wednesday: August ADP employment survey, August Fed minutes, July factory orders, revised Q2 productivity, weekly crude inventories, weekly mortgage applications
• Thursday: August ISM services index, weekly initial jobless claims, weekly natural gas inventories
• Friday: August unemployment rate and nonfarm payrolls

No Fed officials are scheduled to speak.

The U.S. financial markets will be closed on Monday, Sep 7 in observance of Labor Day.

Volume is likely to stay light throughout the week and get even lighter on Friday afternoon. Overall, the bullish trend is continuing, though given the Dow's recent winning streak, some profit-taking is likely to occur. Nonetheless, the fast money remains in charge.

Companies That Could Issue Positive Earnings Surprises

ADC Telecom (ADCT) recently raised its third-quarter guidance. The company now anticipates that non-GAAP profits totaled between 11 and 16 cents per share. Positive revisions by 8 covering analysts pushed the Zacks Consensus Estimate 5 cents higher to 13 cents per share. The most accurate estimate is a penny higher at 14 cents per share. ADCT has beat twice and matched expectations twice during the past 4 quarters. ADC Telecom is scheduled to report on Tuesday, Sep 1, after the close of trading.

Companies That Could Issue Negative Earnings Surprises

Zale Corporation (ZLC) has disappointed investors for 3 consecutive quarters with earnings missing expectations by an average margin of 39 cents share. Ahead of the company's fiscal fourth-quarter report, nearly all of the covering analysts have lowered their projections. The Zacks Consensus calls for a loss of 77 cents per share, 5 cents worse than the average forecast of a month ago. The most accurate estimate is more bearish at 87 cents per share. Zale is scheduled to report on Wednesday, Sep 2, before the start of trading.

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

Earnings Calendar

Here is a list of companies that we have confirmed will report during the week of Aug 31 - Sep 4. Prices are as of Thursday's, Aug 27, market close.

Company	Stock	Zacks Estimate	Year Ago EPS	Last Qtr Surprise	Date	Time	Price
China Mass-Adr	CMM	$0.14	$0.09	48.0%	8/31	BTO	$4.65
Culp Inc	CFI	$0.12	$0.08	16.7%	8/31	AMC	$5.37
Sina Corp	SINA	$0.24	$0.43	12.5%	8/31	AMC	$31.08
Adc Telecomm	ADCT	$0.13	$0.27	0.0%	9/1	AMC	$8.93
Americas Car-Mt	CRMT	$0.41	$0.45	13.2%	9/1	BTO	$20.80
Appld Signal	APSG	$0.25	$0.15	55.0%	9/1	AMC	$24.11
Bofi Hldg Inc	BOFI	N/A	$0.20	N/A	9/1	N/A	$7.14
China Med Tech	CMED	$0.50	$0.53	42.9%	9/1	BTO	$15.69
Donaldson Co	DCI	$0.30	$0.60	33.3%	9/1	AMC	$39.04
Edap Tms Sa-Adr	EDAP	($0.22)	($0.35)	(30.0%)	9/1	BTO	$4.04
Imergent Inc	IIG	N/A	$0.05	N/A	9/1	N/A	$6.93
Pike Electric	PIKE	$0.07	$0.19	127.3%	9/1	AMC	$11.41
Plato Learning	TUTR	$0.00	($0.05)	111.1%	9/1	BTO	$4.17
Seachange Intl	SEAC	$0.06	$0.05	0.0%	9/1	AMC	$9.52
Take-Two Inter	TTWO	($0.78)	$0.76	47.6%	9/1	AMC	$10.87
Verifone Hldgs	PAY	$0.13	$0.28	9.1%	9/1	AMC	$11.06
Abm Industries	ABM	$0.34	$0.32	14.3%	9/2	AMC	$22.76
Adept Tech Inc	ADEP	N/A	$0.10	(750.0%)	9/2	N/A	$2.56
Amer Software A	AMSWA	$0.05	$0.03	20.0%	9/2	N/A	$6.28
Bio Refernc Lab	BRLI	$0.38	$0.34	17.9%	9/2	BTO	$32.91
Blyth Inc	BTH	$0.34	$0.36	(42.6%)	9/2	BTO	$47.90
Brown Forman B	BF.B	$0.63	$0.69	18.4%	9/2	BTO	$44.23
Casella Waste	CWST	($0.02)	$0.08	50.0%	9/2	AMC	$2.75
Collective Brnd	PSS	$0.29	$0.54	28.3%	9/2	AMC	$15.60
Greif Bros-Cl A	GEF	$0.86	$1.18	3.9%	9/2	AMC	$51.57
Greif Bros-Cl B	GEF.B	N/A	$1.78	N/A	9/2	AMC	$46.97
Joy Global Inc	JOYG	$0.96	$0.86	33.0%	9/2	BTO	$39.52
Martek Bioscs	MATK	$0.26	$0.28	13.8%	9/2	AMC	$25.29
Oxford Inds Inc	OXM	$0.06	$0.43	68.0%	9/2	AMC	$14.77
Quanex Bldg Prd	NX	$0.00	$0.32	(111.1%)	9/2	AMC	$13.83
Saic Inc	SAI	$0.30	$0.27	7.4%	9/2	AMC	$18.46
Synovis Lif Tec	SYNO	$0.17	$0.14	38.5%	9/2	BTO	$15.96
Zale Corp New	ZLC	($0.77)	($0.48)	-57.41%	9/2	BTO	$6.45
Animal Hlth Int	AHII	$0.05	$0.11	(109.1%)	9/3	BTO	$2.05
Arcsight Inc	ARST	$0.03	($0.04)	85.7%	9/3	AMC	$18.19
Cascade Corp	CASC	($0.51)	$0.94	(1057.1%)	9/3	AMC	$26.52
Ciena Corp	CIEN	($0.21)	$0.29	(137.5%)	9/3	BTO	$13.44
Cooper Cos	COO	$0.62	$0.67	27.1%	9/3	AMC	$28.67
Del Monte Foods	DLM	$0.03	($0.04)	34.6%	9/3	BTO	$10.51
Esterline	ESL	$0.90	$0.68	(9.6%)	9/3	AMC	$31.41
G-Iii Apparel	GIII	($0.26)	($0.23)	19.6%	9/3	AMC	$14.85
Jackson Hewitt	JTX	($0.69)	($0.69)	(0.6%)	9/3	BTO	$6.18
Krispy Kreme	KKD	N/A	($0.03)	(1000.0%)	9/3	N/A	$3.07
Layne Christens	LAYN	$0.12	$0.78	(135.3%)	9/3	BTO	$26.95
Methode Elect-A	MEI	($0.24)	$0.27	37.5%	9/3	BTO	$8.94
Movado Grp Inc	MOV	($0.23)	$0.39	22.9%	9/3	BTO	$13.36
Quiksilver Inc	ZQK	$0.04	$0.22	25.0%	9/3	AMC	$2.84
Shanda Interact	SNDA	$0.82	$0.56	8.3%	9/3	AMC	$50.42
Uti Worldwide	UTIW	$0.18	$0.28	(28.6%)	9/3	BTO	$12.79
Ata Inc-Adr	ATAI	$0.08	$0.08	57.1%	9/4	N/A	$7.25
Barry R G Corp	GCFB	$0.00	($0.01)	0.0%	9/4	BTO	$8.60

BTO = Before The Market Open, AMC = After The Market Close

Zacks Investment Research

Its COO Johnson Chiang’s stint was cut short on Tuesday, July 8. Chiang had been with the company since November 2005. Chiang’s duties have been taken over by Suntech’s Chairman and CEO Zhengrong Shi and Guangchun Zhang, VP of manufacturing technology and quality.

While Zhang will oversee Suntech's crystalline silicon PV manufacturing operations in China, Shi will temporarily be at the helm of the Shanghai thin film plant, KSL Kuttler and BIPV manufacturing operations at Suntech Japan.

Suntech designs, develops, manufactures and markets an array of PV cells and modules. It also provides PV system integration services.

The company’s operational shake-up is an effort to boost lukewarm fortunes of the world's largest crystalline silicon solar module manufacturer. In the first quarter of fiscal 2009, revenues fell 27% and 24%, from the year-ago and sequential quarters, respectively.

The future of the geographically diversified company looks shaky in the near term. The prediction is based on industry-wide lower ASPs and shipments, over-priced inventory around the block, dearth of lenders and tepid German market.

The light at the end of the tunnel may come from the China’s ambitious plan to increase its installed solar power capacity from a mere 140MW at the end of fiscal 2008 to 2GW by end of fiscal 2011, apart from subsidizing solar power by RMB1.09 per kWh. The Chinese Government is said to be eying 20GW of installed capacity by fiscal 2020.

We will keep a watchful eye on the company, advising a market-neutral HOLD recommendation.

Other players who may benefit from the Chinese dole are Yingli Green Energy Holding Co. Ltd. (YGE), JA Solar Holdings Co. Ltd. (JASO), and LDK Solar Co. (LDK) at the bottom of the solar chain.