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Earnings Preview for Jan 5 - 9 - Earnings Preview

 January 02, 2009 03:04 PM


Immucor, Inc. (BLUD) could top expectations. Bed Bath & Beyond Inc. (BBBY) and Global Payments Inc. (GPN) could miss estimates.


Traders and portfolio managers returning from their holiday vacations will be greeted by earnings and economic news.

Though earnings season will not officially start for another week (Alcoa Inc. (AA) reports on Monday, Jan 12), there are 46 companies confirmed to report this week. These stocks include S&P 500 members Apollo Group, Inc. (APOL), Bed Bath & Beyond Inc. (BBBY), Chevron Corporation (CVX), Family Dollar Stores, Inc. (FDO), KB Home (KBH), Monsanto Company (MON), Constellation Brands, Inc. (STZ) and SuperValu Inc. (SVU).

Two key economic reports are on the calendar: minutes from the December Fed meeting (Tuesday afternoon) and December employment numbers (Friday morning).

  • Monday: December auto sales, November construction spending
  • Tuesday: December ISM services index, November factory orders, minutes from the December Fed meeting
  • Wednesday: Weekly crude inventories
  • Thursday: November consumer credit, weekly initial jobless claims
  • Friday: December unemployment rate and nonfarm payrolls, November wholesale inventories

The Federal Reserve's web site is not listing any upcoming speeches from Fed officials.

Volume should improve, but market direction is a questionable. Though I can foresee a pre-inauguration rally occurring, fourth-quarter earnings and economic data will weigh on traders' minds.


Companies That Could Issue Positive Earnings Surprises

[Related -Cree, Inc. (CREE) Q2 Earnings Preview: What To Expect?]

[Related -Family Dollar Stores, Inc. (FDO): More Headwinds Than Tailwinds In Near-Term]

The fiscal second-quarter consensus earnings estimate for Immucor, Inc. (BLUD) has risen by a penny over the past 30 days to 21 cents per share. The most accurate estimate is even more bullish at 24 cents per share. The reagent manufacturer has topped expectations for 3 consecutive quarters by an average margin of 4 cents per share. Immucor is scheduled to report on Wednesday, Jan 7, after the close of trading.

Companies That Could Issue Negative Earnings Surprises

In early December, Bed Bath & Beyond Inc. (BBBY) warned that third-quarter same-store sales had declined 5.6%, well below its projection for sales to be unchanged or down by just low single digits. As a result, the company cut its EPS guidance to between 31 and 35 cents per share. Brokerage analysts responded by lowering their quarterly projections to 34 cents per share.

BBBY has missed once during the past 4 quarters. Even if the company matches expectations, there is a real possibility that its fiscal 2009 guidance could be disappointing given the horrible holiday shopping season. Bed Bath & Beyond is scheduled to report on Wednesday, Jan 7, after the close of trading.

During the past 30 days, 4 brokerage analysts have lowered their fiscal second-quarter profit projections on Global Payments Inc. (GPN). Though the revisions were not large enough to move the consensus earnings estimate from 57 cents per share, they did result in a more bearish most accurate estimate of 55 cents per share. GPN has missed once in the past 2 quarters. Global Payments is scheduled to report on Tuesday, Jan 6, after the close of trading.

Charles Rotblut, CFA is the senior market analyst for Zacks.com. He can be reached at crotblut@zacks.com.


Surprise Trader can help you turn earnings surprises into quick profits. Learn how.

Earnings Calendar

Here is a list of companies that we have confirmed will report during the week of Jan 5 - 91. Prices are as of Wednesday's, Dec 24, market close.

Company Ticker Zacks Consensus Estimate Year Ago Actual Last Qtr Surprise Report Date Report Time Price
The Mosaic Co MOS $1.41 $0.81 (10.5%) 1/5/2009 BTO $34.60
Navistar Intl NAV $0.88 ($1.46) 159.1% 1/5/2009 AMC $21.38
Angiodynamics ANGO $0.12 $0.13 (18.2%) 1/6/2009 AMC $13.69
Acuity Brands AYI $0.84 $0.93 (6.4%) 1/6/2009 AMC $34.91
Finish Line-Cla FINL ($0.09) ($0.17) 41.2% 1/6/2009 AMC $5.60
Global Payments GPN $0.57 $0.48 18.3% 1/6/2009 AMC $32.79
Landec Corp LNDC $0.11 $0.12 10.0% 1/6/2009 AMC $6.58
Neogen Corp NEOG $0.25 $0.22 8.7% 1/6/2009 AMC $24.98
Premier Exhibit PRXI ($0.01) $0.08 50.0% 1/6/2009 AMC $1.13
Resources Cnctn RECN $0.21 $0.27 8.0% 1/6/2009 AMC $16.38
Standard Micros SMSC $0.16 $0.41 18.8% 1/6/2009 AMC $16.34
Xyratex Ltd XRTX ($0.05) $0.29 -15.15% 1/6/2009 AMC 2.95
Bed Bath&Beyond BBBY $0.34 $0.49 0.0% 1/7/2009 AMC $25.42
Immucor BLUD $0.21 $0.23 21.7% 1/7/2009 AMC $26.58
Christopher&Bnk CBK ($0.05) $0.29 33.3% 1/7/2009 AMC $5.60
Family Dollar FDO $0.40 $0.37 11.8% 1/7/2009 AMC $26.07
Merix Corp MERX ($0.12) ($0.19) 29.4% 1/7/2009 AMC $0.28
Monsanto Co-New MON $0.60 $0.46 66.7% 1/7/2009 AMC $70.35
Ruby Tuesday RT ($0.10) ($0.20) (90.9%) 1/7/2009 AMC $1.56
Sonic Corp SONC $0.17 $0.22 (2.9%) 1/7/2009 AMC $12.17
Spectrum Contrl SPEC $0.19 $0.23 12.5% 1/7/2009 AMC $6.14
Constellatn Brd STZ $0.59 $0.55 2.3% 1/7/2009 AMC $15.77
Supervalu Inc SVU $0.61 $0.69 (12.9%) 1/7/2009 AMC $14.60
Unifirst Corp UNF $0.85 $0.90 (7.4%) 1/7/2009 AMC $29.69
Wd 40 Co WDFC $0.40 $0.36 (31.3%) 1/7/2009 AMC $28.29
Apollo Group APOL $0.97 $0.83 11.9% 1/8/2009 AMC $76.62
Chevron Corp CVX $1.87 $2.32 15.6% 1/8/2009 AMC $73.97
Demandtec Inc DMAN ($0.04) ($0.04) (100.0%) 1/8/2009 AMC $8.07
Great Atl & Pac GAP ($0.35) ($0.28) (284.6%) 1/8/2009 AMC $6.27
Helen Of Troy HELE $0.76 $0.81 (8.1%) 1/8/2009 AMC $17.36
Healthways Inc HWAY $0.34 $0.30 (2.0%) 1/8/2009 AMC $11.48
Lawson Software LWSN $0.06 $0.08 (20.0%) 1/8/2009 AMC $4.74
Allscripts-Misy MDRX $0.12 $0.14 0.0% 1/8/2009 AMC $9.92
Matrix Service MTRX $0.40 $0.01 20.0% 1/8/2009 AMC $7.67
Nu Horizons Ele NUHC ($0.04) $0.10 (75.0%) 1/8/2009 AMC $1.72
Penford Corp PENX ($0.13) $0.42 (58.5%) 1/8/2009 AMC $10.12
Robbins & Myers RBN $0.44 $0.40 7.3% 1/8/2009 AMC $16.17
Rpm Intl Inc RPM $0.38 $0.42 (3.6%) 1/8/2009 AMC $13.29
Saba Software SABA $0.02 $0.00 0.0% 1/8/2009 AMC $1.55
Schnitzer Steel SCHN ($1.10) $0.85 65.9% 1/8/2009 AMC $37.65
Synnex Corp SNX $0.71 $0.61 13.8% 1/8/2009 AMC $11.33
Texas Inds TXI $0.25 $1.05 (67.1%) 1/8/2009 AMC $34.50
Azz Inc AZZ $0.81 $0.66 15.0% 1/9/2008 AMC $25.10
Emmis Comm Cl A EMMS ($0.02) ($0.22) 200.0% 1/9/2008 AMC $0.35
Kb Home KBH ($1.09) ($5.16) (19.1%) 1/9/2008 AMC $13.62
Schulman(A) Inc SHLM $0.31 $0.36 4.0% 1/9/2008 AMC $17.00

BMO = Before 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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