Last week, I expressed concern that the ratio of positive earnings surprises to negative surprises was not as good as it has been over the past few quarters. This week (Monday through Thursday), 108 companies within the S&P 500 have reported fourth-quarter earnings and the numbers are decidedly more bullish: 80 positive earnings surprises and 15 negative surprises (13 matched expectations). This is a positive to negative surprise ratio of 5.3:1.

Tech led the wave, accounting for a quarter of all positive surprises. Only Advanced Micro Devices (AMD) and Sanmina (SANM) missed. Financial companies accounted for nine of the positive surprises with just National City (NCC) disappointing. The Basic Materials and Healthcare sectors added seven positive surprises each.

Overall, 188 S&P 500 companies have reported fourth-quarter results. The ratio of positive to negative surprises is running at 3.3:1, which is still below what we have seen in previous quarters. Financial companies account for 11 of the 38 negative earnings misses, though the reasons for the negative surprises have been company-specific. Average growth among S&P 500 companies that have reported is running at 13.2%.

Within the broader Zacks Rank universe¹, we also saw an improvement, though not as sharp as what occurred within the S&P 500. This week, through Thursday, 246 companies topped expectations and 123 missed (63 matched). The higher proportion of positive to negative surprises moved the ratio for the fourth-quarter earnings season up to 1.75:1 from 1.5:1 last week. The average growth rate is 18.1% (11.5% when outliers are excluded).

All of this raises the question as to whether there is a market cap correlation among the results? The answer appears to be yes. Here is a breakdown of the ratio of positive to negative surprises by company size:

• Market capitalization above $5 billion (large-cap): ratio of 3.1:1


• Market capitalization between $1 billion to $5 billion (mid-cap): 2.0:1


• Market capitalization less than $1 billion (small-cap): 1.1:1

Keep in mind that this data is based on a limited universe since the majority of companies have yet to report. However, if we look at the majority of third-quarter results, a similar pattern holds up: large-cap: 2.8:1, mid-cap 2.0:1 and small-cap: 1.2:1. My presumption is that this is a historic trend as opposed to one that has just recently appeared.

We will get more fourth-quarter earnings data next week with 404 companies confirmed to report. About a quarter of these are members of the S&P 500.

The Federal Reserve will hold its first meeting of the year on Tuesday and Wednesday. The vote should follow the recent trend with no change on interest rates.

In terms of economic data, December personal income and spending will be released on Tuesday. Fourth-quarter advance GDP, December construction spending and the January Chicago PMI will be all be released on Wednesday. Initial jobless claims will be released on Thursday.

Thursday could be a positive day for the markets, if recent trends hold. According to the Stock Traders Almanac, the Dow has been up on the first trading day of February during the six out of the last seven years. I have yet to see any causal reason for why the first trading day of February would be bullish and cannot explain why this trend even exists.

Companies That Could Surprise During the Week of Jan 29-Feb 2

ACE Limited (ACE) topped third-quarter expectations by a margin of 32 cents - the fourth consecutive time the company has topped expectations. The company is benefiting from favorable weather (meaning fewer catastrophic storms) and bullish financial market conditions. The current consensus estimate for fourth-quarter profits of $1.73 per share is three cents above the forecast of a month ago and reflects positive revisions from four brokerage analysts. (Two analysts raised their forecasts within the last seven days.) The Most Recent Consensus is more bullish at $1.81 per share. ACE Limited is scheduled to report on Tuesday, Jan 30, after the close of trading.

Allstate (ALL) has topped expectations by double-digit margins for three consecutive quarters. A reduction in risk exposure and favorable weather patterns has helped the company's bottom line. Four brokerage analysts have raised their fourth-quarter forecasts over the past 30 days, including one within the last seven days. The current consensus estimate calls for ALL to report profits of $1.82 per share, though the Most Recent Consensus is considerably more bullish at $1.88 per share. Allstate is scheduled to report on Tuesday, Jan 30, after the close of trading.

Fiscal first-quarter earnings estimates on Pilgrim's Pride (PPC) have been revised upwards from breakeven results to a profit of five cents. Chicken prices are rising and this could be impacting the more positive view that analysts are taking. PPC beat fiscal fourth-quarter results by six cents after missing expectations during each of the two previous quarters. Pilgrim's Pride is scheduled to report on Tuesday, Jan 30, before the start of trading.

Citing stronger than expected holiday sales, THQ (THQI) recently raised its fiscal third-quarter guidance. The company expects profits to have totaled 91 cents per share on a GAAP basis versus previous guidance for profits of 65 to 70 cents per share. Brokerage analysts are more bullish and expect the videogame maker to report profits of 92 cents per share. The company has topped expectations for nine consecutive quarters. THQ is scheduled to report on Friday, Feb 2, before the start of trading.

Spansion () warned a few weeks ago that it would not meet its previous guidance for breakeven results. A decline in customer demand for certain flash memory devices in late December caused the company to adjust its internal forecasts. Nearly all of the covering brokerage analysts cut their forecasts in response, causing the consensus estimate to drop nine cents to a projected fourth-quarter loss of five cents per share. The Most Recent Consensus Estimate is more bearish at a loss of six cents per share. SPSN has missed estimates for two consecutive quarters. Spansion is scheduled to report on Monday, Jan 29, after the close of trading.

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Surprise Trader can help you turn earnings surprises into quick profits. Learn how">SPSN) warned a few weeks ago that it would not meet its previous guidance for breakeven results. A decline in customer demand for certain flash memory devices in late December caused the company to adjust its internal forecasts. Nearly all of the covering brokerage analysts cut their forecasts in response, causing the consensus estimate to drop nine cents to a projected fourth-quarter loss of five cents per share. The Most Recent Consensus Estimate is more bearish at a loss of six cents per share. SPSN has missed estimates for two consecutive quarters. Spansion is scheduled to report on Monday, Jan 29, after the close of trading.
 

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

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Earnings Calendar

Here is a list of companies that we have confirmed will report next week².

Company	Ticker	Zacks Consensus Estimate	Year Ago Actual	Last Qtr Surprise	1-Wk Price Change	Report Date
Actuate Corp	ACTU	$0.07	$0.06	33.3%	(3.1%)	1/29/2007
Atheros Comm	ATHR	$0.15	$0.11	(14.3%)	(3.3%)	1/29/2007
Berkshire Hills	BHLB	$0.46	$0.55	0.0%	(0.7%)	1/29/2007
Canon Inc Adr	CAJ	$0.72	N/A	17.0%	0.3%	1/29/2007
Cummins Inc	CMI	$3.79	$3.05	(8.4%)	2.4%	1/29/2007
Cnet Networks	CNET	$0.12	$0.15	(100.0%)	(8.1%)	1/29/2007
Con-Way Inc	CNW	$0.74	$0.97	6.4%	(1.8%)	1/29/2007
Crane Co	CR	$0.57	$0.58	4.2%	1.1%	1/29/2007
First Charter	FCTR	$0.40	$0.04	5.1%	(2.3%)	1/29/2007
First St Bancp	FSNM	$0.39	$0.39	(7.5%)	(4.0%)	1/29/2007
Genesis Micro	GNSS	($0.18)	$0.27	0.0%	2.1%	1/29/2007
Gentex Corp	GNTX	$0.18	$0.19	0.0%	3.3%	1/29/2007
Getty Images	GYI	$0.56	$0.64	0.0%	(0.2%)	1/29/2007
Heartland Fincl	HTLF	$0.40	$0.35	5.3%	(1.1%)	1/29/2007
Infineon Tech	IFX	$0.04	($0.29)	(166.7%)	(2.8%)	1/29/2007
Kronos Inc	KRON	$0.23	$0.34	25.0%	(5.6%)	1/29/2007
Leadis Tech Inc	LDIS	($0.13)	($0.12)	41.2%	0.0%	1/29/2007
Mattel Inc	MAT	$0.66	$0.58	1.6%	3.4%	1/29/2007
Midwest Banc	MBHI	$0.15	$0.30	3.7%	(8.5%)	1/29/2007
Olin Corp	OLN	$0.27	$0.29	16.2%	(1.8%)	1/29/2007
Old Natl Bcp	ONB	$0.28	$0.33	6.7%	(2.0%)	1/29/2007
Plum Creek Tmbr	PCL	$0.34	$0.34	6.3%	3.3%	1/29/2007
Phelps Dodge Co	PD	$4.34	$1.85	(6.0%)	4.6%	1/29/2007
Radware Ltd	RDWR	$0.01	$0.12	(500.0%)	(2.7%)	1/29/2007
Everest Re Ltd	RE	$3.36	($3.01)	16.5%	(2.4%)	1/29/2007
Reinsurance Grp	RGA	$1.17	$1.15	5.4%	(1.5%)	1/29/2007
Schering Plough	SGP	$0.16	$0.07	0.0%	3.0%	1/29/2007
Sl Green Realty	SLG	$1.16	$1.02	0.9%	4.9%	1/29/2007
Spansion Inc-A	SPSN	($0.05)	($0.63)	(70.0%)	(2.8%)	1/29/2007
Sterling Fin Wa	STSA	$0.58	$0.44	(1.9%)	(4.1%)	1/29/2007
Savvis Inc	SVVS	($0.24)	($1.95)	(42.1%)	9.9%	1/29/2007
Sysco Corp	SYY	$0.38	$0.33	0.0%	1.7%	1/29/2007
Hanover Insuran	THG	$1.08	$1.39	(29.9%)	(0.1%)	1/29/2007
Tyson Foods A	TSN	$0.06	$0.11	(250.0%)	0.6%	1/29/2007
Tesoro Corp	TSO	$1.73	$1.78	24.9%	5.3%	1/29/2007
Utd Dominion Rt	UDR	$0.44	$0.44	0.0%	0.3%	1/29/2007
Unumprovident	UNM	$0.44	$0.43	12.2%	(1.9%)	1/29/2007
Vascular Solutn	VASC	$0.37	$0.01	66.7%	(0.1%)	1/29/2007
Valero Gp Hldgs	VEH	$0.24	N/A	(4.2%)	1.4%	1/29/2007
Valero Lp	VLI	$0.68	$0.63	31.7%	4.0%	1/29/2007
Volterra Semi	VLTR	$0.12	$0.05	0.0%	3.8%	1/29/2007
Verizon Comm	VZ	$0.62	$0.64	3.0%	0.9%	1/29/2007
Us Xpress Entrp	XPRSA	$0.49	$0.46	2.2%	1.4%	1/29/2007
Zimmer Holdings	ZMH	$0.99	$0.86	1.3%	(0.2%)	1/29/2007
Ace Limited	ACE	$1.73	$0.72	19.5%	(0.2%)	1/30/2007
Adaptec	ADPT	$0.00	$0.01	166.7%	(2.0%)	1/30/2007
Gallagher Arthu	AJG	$0.42	$0.55	2.0%	(0.3%)	1/30/2007
Align Tech Inc	ALGN	($0.14)	$0.01	(14.3%)	(2.4%)	1/30/2007
Allstate Corp	ALL	$1.82	$1.50	10.9%	(2.1%)	1/30/2007
Appld Micro Cir	AMCC	$0.03	$0.02	0.0%	(5.7%)	1/30/2007
Amylin Pharma	AMLN	($0.52)	($0.61)	21.7%	(4.9%)	1/30/2007
Airgas Inc	ARG	$0.49	$0.41	4.3%	3.7%	1/30/2007
Arvinmeritor	ARM	$0.25	$0.16	2.6%	(2.1%)	1/30/2007
Anixter Intl	AXE	$1.08	$0.67	20.6%	1.8%	1/30/2007
Black & Decker	BDK	$1.32	$1.93	0.6%	(0.8%)	1/30/2007
Burger King Hld	BKC	$0.26	N/A	15.4%	0.2%	1/30/2007
Buckeye Tech	BKI	$0.11	$0.07	11.1%	(0.3%)	1/30/2007
Bok Finl Corp	BOKF	$0.82	$0.72	(8.2%)	(2.3%)	1/30/2007
Bre Properties	BRE	$0.61	$0.62	1.8%	1.4%	1/30/2007
Biosite Inc	BSTE	$0.56	$0.73	(7.6%)	(6.0%)	1/30/2007
Boston Pptys	BXP	$1.15	$1.09	6.4%	3.4%	1/30/2007
Chubb Corp	CB	$1.33	$1.17	11.4%	(0.1%)	1/30/2007
Countrywide Fin	CFC	$1.05	$1.03	(6.4%)	(2.6%)	1/30/2007
Ce Franklin Ltd	CFK	$0.28	N/A	N/A	(3.9%)	1/30/2007
Ch Robinson Wwd	CHRW	$0.39	$0.33	2.6%	(3.4%)	1/30/2007
Checkfree Corp	CKFR	$0.42	$0.44	2.5%	(7.8%)	1/30/2007
Colgate Palmoli	CL	$0.77	$0.69	1.4%	(1.3%)	1/30/2007
Calamos Asset-A	CLMS	$0.36	$0.36	(2.9%)	(3.3%)	1/30/2007
Colonial Pptys	CLP	$1.28	$0.93	(7.1%)	3.0%	1/30/2007
Celestica Inc	CLS	$0.05	$0.13	12.5%	(2.3%)	1/30/2007
Chicago Merc Ex	CME	$2.95	$2.18	3.2%	1.6%	1/30/2007
Corinthian Col	COCO	$0.10	$0.12	(25.0%)	(1.2%)	1/30/2007
Cdn Pac Rlwy	CP	$1.03	$0.91	21.2%	(0.7%)	1/30/2007
Corn Prod Intl	CPO	$0.43	$0.31	22.5%	(5.1%)	1/30/2007
Cts Corp	CTS	$0.19	$0.23	0.0%	(3.9%)	1/30/2007
Cymer Inc	CYMI	$0.55	$0.45	4.6%	(11.0%)	1/30/2007
Diebold Inc	DBD	$0.74	$0.65	4.4%	(4.7%)	1/30/2007
Datawatch Corp	DWCH	$0.00	$0.01	(150.0%)	(9.6%)	1/30/2007
Electrn Imaging	EFII	$0.30	$0.36	(4.0%)	(2.1%)	1/30/2007
Entrust Inc	ENTU	($0.02)	$0.05	0.0%	(4.4%)	1/30/2007
Epicor Software	EPIC	$0.16	$0.25	(12.5%)	(1.7%)	1/30/2007
Entergy Corp	ETR	$0.73	$0.59	1.1%	1.2%	1/30/2007
Flagstar Bancp	FBC	$0.15	$0.36	6.7%	(2.6%)	1/30/2007
Franklin Bk Cp	FBTX	$0.24	$0.32	0.0%	(1.2%)	1/30/2007
Flextronic Intl	FLEX	$0.21	$0.20	5.3%	(6.7%)	1/30/2007
Firstservice Cp	FSRV	$0.30	$0.32	(6.7%)	6.2%	1/30/2007
Graco Inc	GGG	$0.52	$0.46	1.9%	(1.2%)	1/30/2007
Cgi Grp Inc -A	GIB	$0.13	$0.11	14.3%	4.1%	1/30/2007
G&K Svcs A	GKSR	$0.47	$0.48	0.0%	(0.2%)	1/30/2007
Genl Motors	GM	$1.01	($2.09)	93.8%	7.4%	1/30/2007
Hanmi Finl Cp	HAFC	$0.34	$0.30	9.1%	(5.0%)	1/30/2007
Hancock Hldg Co	HBHC	$0.71	$0.69	(1.4%)	(4.6%)	1/30/2007
Harris Corp	HRS	$0.66	$0.52	6.2%	(5.9%)	1/30/2007
Indep Bk Mich	IBCP	$0.45	$0.49	(10.4%)	(3.5%)	1/30/2007
Idex Corp	IEX	$0.63	$0.54	1.6%	1.3%	1/30/2007
Intl F & F	IFF	$0.47	$0.33	18.6%	(0.0%)	1/30/2007
Ill Tool Works	ITW	$0.74	$0.71	(2.5%)	(1.4%)	1/30/2007
Jetblue Airways	JBLU	$0.10	($0.19)	0.0%	(11.1%)	1/30/2007
Jones Lang Lasl	JLL	$2.21	$2.01	(6.4%)	0.4%	1/30/2007
Juniper Netwrks	JNPR	$0.16	$0.20	0.0%	(11.1%)	1/30/2007
Kellogg Co	K	$0.46	$0.47	7.7%	(0.3%)	1/30/2007
Kinetic Concpts	KCI	$0.70	$0.64	3.1%	3.3%	1/30/2007
Keynote Systems	KEYN	($0.09)	$0.03	25.0%	0.6%	1/30/2007
Keystone Auto	KEYS	$0.47	$0.44	(4.6%)	(5.7%)	1/30/2007
Kraft Foods Inc	KFT	$0.51	$0.56	4.6%	(2.8%)	1/30/2007
Key Tronic	KTCC	$0.12	$0.10	10.5%	3.2%	1/30/2007
Kyocera Cp Adr	KYO	$0.99	N/A	3.2%	(2.4%)	1/30/2007
Kyphon Inc	KYPH	$0.25	$0.34	0.0%	0.3%	1/30/2007
Us Airways Grp	LCC	$0.76	($1.72)	(7.6%)	(13.1%)	1/30/2007
Logicvision Inc	LGVN	($0.07)	($0.13)	18.2%	8.1%	1/30/2007
Lone Star Tech	LSS	$0.58	$1.93	(39.8%)	0.9%	1/30/2007
Lexmark Intl	LXK	$0.95	$0.71	20.3%	(5.6%)	1/30/2007
Manpower Inc Wi	MAN	$1.18	$1.01	12.6%	(3.0%)	1/30/2007
Mdu Resources	MDU	$0.34	$0.41	15.1%	0.2%	1/30/2007
3M Co	MMM	$1.15	$1.04	3.5%	(0.7%)	1/30/2007
Medical Pptys	MPW	$0.29	$0.20	0.0%	4.9%	1/30/2007
Merck & Co Inc	MRK	$0.50	$0.64	2.0%	2.3%	1/30/2007
Natl Instrs Cp	NATI	$0.30	$0.26	14.3%	(1.6%)	1/30/2007
Nisource Inc	NI	$0.44	$0.45	22.2%	1.3%	1/30/2007
Nds Group -Adr	NNDS	$0.54	$0.45	17.3%	6.1%	1/30/2007
Insight Entrprs	NSIT	$0.37	$0.35	5.9%	(3.3%)	1/30/2007
Newell Rubbermd	NWL	$0.38	$0.41	10.5%	0.9%	1/30/2007
Neoware Inc	NWRE	$0.09	$0.22	(183.3%)	(3.5%)	1/30/2007
Paccar Inc	PCAR	$1.51	$1.22	7.3%	(7.5%)	1/30/2007
Procter & Gambl	PG	$0.83	$0.72	1.3%	(0.1%)	1/30/2007
Photon Dynamics	PHTN	($0.51)	$0.24	0.0%	(9.2%)	1/30/2007
Pinnacle West	PNW	$0.25	$0.24	14.3%	1.3%	1/30/2007
Polyone Corp	POL	$0.09	$0.13	26.7%	(0.8%)	1/30/2007
Pilgrims Prid-B	PPC	$0.05	$0.39	27.3%	(1.3%)	1/30/2007
Pixelworks Inc	PXLW	($0.13)	($0.11)	(18.8%)	(2.5%)	1/30/2007
Quantum Cp-Dssg	QTM	$0.00	$0.03	(600.0%)	(2.1%)	1/30/2007
Redback Netwrks	RBAK	$0.00	$0.01	(75.0%)	0.8%	1/30/2007
Safeco Corp	SAF	$1.52	$1.48	(0.7%)	0.7%	1/30/2007
Sierra Health	SIE	$0.57	$0.44	1.8%	(1.2%)	1/30/2007
Select Ins Grp	SIGI	$1.21	$1.26	3.5%	(2.2%)	1/30/2007
Smith Intl	SII	$0.71	$0.45	6.5%	6.7%	1/30/2007
Sirf Tech Hldgs	SIRF	$0.15	$0.21	(30.8%)	(3.6%)	1/30/2007
Semicon Mfg-Adr	SMI	($0.06)	($0.04)	200.0%	(6.5%)	1/30/2007
Sandisk Corp	SNDK	$0.64	$0.68	10.9%	(5.2%)	1/30/2007
Sony Corp Adr	SNE	$0.34	$1.37	(90.7%)	0.3%	1/30/2007
Siliconware-Adr	SPIL	$0.18	$0.21	6.3%	7.9%	1/30/2007
Ew Scripps Co	SSP	$0.70	$0.54	6.7%	0.6%	1/30/2007
Tenneco Inc	TEN	$0.20	$0.28	(8.3%)	(0.9%)	1/30/2007
Transcda Corp	TRP	$0.42	$0.39	2.4%	(0.9%)	1/30/2007
Tupperware Brnd	TUP	$0.72	$0.54	144.4%	(0.9%)	1/30/2007
Utd Parcel Srvc	UPS	$1.05	$0.97	6.7%	(1.7%)	1/30/2007
Websense Inc	WBSN	$0.17	$0.23	12.5%	1.9%	1/30/2007
Waddell&Reed -A	WDR	$0.34	$0.29	n/a	(3.0%)	1/30/2007
Weatherford Int	WFT	$0.73	$0.46	0.0%	1.7%	1/30/2007
Wilshire Bcp	WIBC	$0.30	$0.27	0.0%	(3.8%)	1/30/2007
Wyeth	WYE	$0.71	$0.59	5.0%	1.9%	1/30/2007
Utd States Stl	X	$2.27	$1.14	7.2%	7.6%	1/30/2007
Ambac Finl Inc	ABK	$1.84	$1.59	0.6%	(1.5%)	1/31/2007
Axcelis Tech	ACLS	$0.12	$0.01	(20.0%)	(5.2%)	1/31/2007
Affiliated Comp	ACS	$0.80	$0.77	(1.3%)	1.2%	1/31/2007
Alliance Data	ADS	$0.56	$0.54	3.5%	1.9%	1/31/2007
Allergan Inc	AGN	$1.03	$0.91	1.1%	0.5%	1/31/2007
Alcan Inc	AL	$1.30	$0.54	(2.4%)	(1.0%)	1/31/2007
Amerigas Partnr	APU	$0.93	$0.87	(9.1%)	3.0%	1/31/2007
Avalonbay Cmmty	AVB	$1.12	$0.93	2.8%	5.0%	1/31/2007
Boeing Co	BA	$0.97	$0.59	30.9%	(2.1%)	1/31/2007
Bankatlantic -A	BBX	$0.08	$0.13	(69.2%)	(3.5%)	1/31/2007
Cbot Holdings-A	BOT	$0.92	$0.34	16.5%	2.2%	1/31/2007
Biosphere Med	BSMD	($0.03)	($0.02)	25.0%	2.7%	1/31/2007
Caci Intl A	CAI	$0.66	$0.72	3.5%	(16.1%)	1/31/2007
Crown Hldgs Inc	CCK	$0.16	$0.02	0.0%	1.6%	1/31/2007
Cadence Design	CDNS	$0.30	$0.29	(5.3%)	(0.7%)	1/31/2007
Constellatn Egy	CEG	$0.94	$1.07	22.8%	1.0%	1/31/2007
Concur Tech Inc	CNQR	$0.03	$0.05	(33.3%)	(6.7%)	1/31/2007
Coherent Inc	COHR	$0.39	$0.27	3.2%	1.9%	1/31/2007
Cholestech Corp	CTEC	$0.14	$0.13	36.4%	0.3%	1/31/2007
Dominion Res Va	D	$0.86	$1.02	16.4%	2.3%	1/31/2007
Ntt Docomo -Adr	DCM	$0.21	N/A	N/A	(2.8%)	1/31/2007
Dollar Finl Cp	DLLR	$0.36	$0.31	9.1%	(1.4%)	1/31/2007
Dionex Corp	DNEX	$0.57	$0.58	(4.9%)	(0.8%)	1/31/2007
Dover Corp	DOV	$0.73	$0.61	(3.8%)	(2.0%)	1/31/2007
Drugstore.Com	DSCM	($0.03)	($0.05)	25.0%	(7.7%)	1/31/2007
Equifax Inc	EFX	$0.51	$0.46	2.0%	0.6%	1/31/2007
Nic Inc	EGOV	$0.03	$0.04	0.0%	(0.6%)	1/31/2007
Eastman Kodak	EK	$0.56	$0.52	185.0%	0.4%	1/31/2007
Estee Lauder	EL	$0.76	$0.70	42.1%	(1.3%)	1/31/2007
Enbridge Inc	ENB	$0.44	N/A	8.7%	(2.4%)	1/31/2007
Eagle Materials	EXP	$0.83	$0.73	3.1%	8.1%	1/31/2007
Furn Brand Intl	FBN	$0.05	$0.36	9.5%	3.6%	1/31/2007
Fiserv Inc	FISV	$0.65	$0.56	1.6%	(3.4%)	1/31/2007
Formfactor Inc	FORM	$0.31	$0.25	0.0%	(4.3%)	1/31/2007
Foster Lb Co	FSTR	$0.20	$0.08	6.7%	6.1%	1/31/2007
Gildan Actvwear	GIL	$0.28	$0.27	5.2%	(3.0%)	1/31/2007
Gilead Sciences	GILD	$0.69	$0.54	12.3%	(4.4%)	1/31/2007
Google Inc-Cl A	GOOG	$2.60	$1.54	9.3%	(3.2%)	1/31/2007
Haemonetics Cp	HAE	$0.45	$0.50	(2.4%)	4.7%	1/31/2007
Hess Corp	HES	$1.20	$1.44	(17.5%)	4.5%	1/31/2007
Harte-Hanks Inc	HHS	$0.38	$0.38	(2.8%)	0.8%	1/31/2007
Harmonic Inc	HLIT	$0.09	($0.02)	166.7%	3.4%	1/31/2007
Hilton Hotels	HLT	$0.32	$0.22	10.7%	(0.7%)	1/31/2007
Honda Motor	HMC	$0.78	$0.61	(15.7%)	0.6%	1/31/2007
Hologic Inc	HOLX	$0.26	$0.12	16.7%	3.7%	1/31/2007
Hercules Inc	HPC	$0.25	$0.17	20.0%	2.5%	1/31/2007
Harsco Corp	HSC	$1.09	$1.23	6.5%	4.0%	1/31/2007
Hydril Company	HYDL	$1.05	$0.88	(1.2%)	7.8%	1/31/2007
Inforte Corp	INFT	($0.01)	$0.03	0.0%	0.8%	1/31/2007
Ingersoll Rand	IR	$0.74	$0.81	(1.2%)	1.9%	1/31/2007
Jds Uniphase Cp	JDSU	$0.10	$0.00	0.0%	6.0%	1/31/2007
K-Sea Transport	KSP	$0.43	($0.26)	21.2%	(0.3%)	1/31/2007
Legacy Bancorp	LEGC	$0.00	N/A	16.7%	(1.9%)	1/31/2007
L-3 Comm Hldgs	LLL	$1.36	$1.24	3.2%	(3.3%)	1/31/2007
Lilly Eli & Co	LLY	$0.82	$0.80	1.3%	0.5%	1/31/2007
Lightbridge Inc	LTBG	$0.11	$0.14	20.0%	(1.9%)	1/31/2007
Magnetek Inc	MAG	($0.04)	($0.02)	0.0%	0.0%	1/31/2007
Microchip Tech	MCHP	$0.33	$0.33	0.0%	(3.0%)	1/31/2007
Media Genl A	MEG	$1.31	$1.05	(2.6%)	1.2%	1/31/2007
Magellan Mdstrm	MMP	$0.60	$0.46	(20.4%)	3.1%	1/31/2007
Mattson Tech	MTSN	$0.14	$0.05	(18.2%)	(12.5%)	1/31/2007
Meadwestvaco Cp	MWV	$0.39	$0.35	5.1%	0.7%	1/31/2007
Maxim Intg Pdts	MXIM	$0.31	$0.42	0.0%	(5.8%)	1/31/2007
Newalliance Bcs	NAL	$0.13	$0.12	15.4%	(0.7%)	1/31/2007
Nara Bcp Inc	NARA	$0.33	$0.30	10.0%	(3.3%)	1/31/2007
Nova Chemicals	NCX	($0.05)	($0.24)	20.5%	2.5%	1/31/2007
Newport Corp	NEWP	$0.25	$0.20	25.0%	(5.2%)	1/31/2007
Nymex Holdings	NMX	$0.38	N/A	N/A	0.1%	1/31/2007
Ny Times A	NYT	$0.46	$0.64	0.0%	(3.7%)	1/31/2007
Owens-Illinois	OI	$0.11	$0.03	(29.7%)	3.4%	1/31/2007
O2Micro Int Ltd	OIIM	($0.02)	$0.07	120.0%	(1.2%)	1/31/2007
Owens & Minor	OMI	$0.41	$0.39	7.0%	7.2%	1/31/2007
Opnet Tech Inc	OPNT	$0.08	$0.06	14.3%	(7.0%)	1/31/2007
Optionsxpress	OXPS	$0.29	$0.25	4.0%	(1.9%)	1/31/2007
Pepsiamericas	PAS	$0.27	$0.29	(12.8%)	1.5%	1/31/2007
Public Sv Entrp	PEG	$0.72	$0.91	16.5%	2.2%	1/31/2007
Pulte Homes Inc	PHM	($0.01)	$2.03	0.0%	5.0%	1/31/2007
Quicklogic Corp	QUIK	($0.08)	($0.02)	42.9%	(2.8%)	1/31/2007
Regency Ctrs Cp	REG	$1.09	$0.94	0.0%	3.8%	1/31/2007
Rightnow Tech	RNOW	($0.04)	$0.09	0.0%	(6.2%)	1/31/2007
Saia Inc	SAIA	$0.45	$0.43	(3.6%)	(1.8%)	1/31/2007
Starbucks Corp	SBUX	$0.26	$0.22	0.0%	(6.2%)	1/31/2007
Service Corp In	SCI	$0.08	$0.07	100.0%	(3.3%)	1/31/2007
Sealed Air Corp	SEE	$0.89	$0.77	2.6%	(1.8%)	1/31/2007
Sepracor Inc	SEPR	$0.60	$0.32	180.0%	(1.5%)	1/31/2007
Spherion Corp	SFN	$0.12	$0.15	0.0%	4.1%	1/31/2007
Saifun Semi Ltd	SFUN	$0.19	$0.29	4.0%	(3.9%)	1/31/2007
Silicon Lab Inc	SLAB	$0.07	$0.31	(11.1%)	1.5%	1/31/2007
Silgan Holdings	SLGN	$0.47	$0.38	5.3%	8.2%	1/31/2007
Sirenza Microdv	SMDI	$0.13	$0.08	14.3%	(2.5%)	1/31/2007
Smithtown Bcp	SMTB	$0.43	$0.35	N/A	(2.4%)	1/31/2007
Spartan Stores	SPTN	$0.27	$0.20	15.4%	3.1%	1/31/2007
Stoneridge Inc	SRI	$0.00	($0.07)	216.7%	3.9%	1/31/2007
Sra Intl -Cl A	SRX	$0.30	$0.31	(3.7%)	(7.4%)	1/31/2007
Sunoco Inc	SUN	$1.16	$2.19	18.0%	2.8%	1/31/2007
Syntel Inc	SYNT	$0.28	$0.30	11.1%	(0.3%)	1/31/2007
Tractor Supply	TSCO	$0.71	$0.75	(8.3%)	(1.2%)	1/31/2007
Tessera Tec Inc	TSRA	$0.44	$0.22	0.0%	(8.1%)	1/31/2007
Tetra Tech New	TTEK	$0.16	$0.17	11.1%	(3.9%)	1/31/2007
Time Warner Inc	TWX	$0.23	$0.25	(9.5%)	(3.4%)	1/31/2007
Ugi Corp	UGI	$0.62	$0.54	33.3%	(0.3%)	1/31/2007
Virage Logic Cp	VIRL	($0.07)	($0.01)	400.0%	(1.2%)	1/31/2007
Vulcan Matls Co	VMC	$1.00	$0.86	(6.0%)	6.5%	1/31/2007
Verisign Inc	VRSN	$0.22	$0.26	(5.0%)	(5.5%)	1/31/2007
Vectren Corp	VVC	$0.55	$0.67	(31.8%)	(1.2%)	1/31/2007
Webex Comm Inc	WEBX	$0.27	$0.29	0.0%	2.9%	1/31/2007
Wgl Hldgs Inc	WGL	$0.88	$0.91	21.7%	(1.3%)	1/31/2007
Wps Resources	WPS	$0.74	$0.53	11.0%	(1.2%)	1/31/2007
Western Union	WU	$0.26	N/A	21.4%	(5.1%)	1/31/2007
Xcel Energy Inc	XEL	$0.22	$0.27	8.3%	0.9%	1/31/2007
Accelrys Inc	ACCL	$0.02	N/A	33.3%	(1.2%)	2/1/2007
Actel Corp	ACTL	$0.03	$0.06	200.0%	(5.2%)	2/1/2007
Archer Daniels	ADM	$0.62	$0.51	15.1%	2.6%	2/1/2007
Alliance Fiber	AFOP	$999.00	($0.01)	N/A	(0.5%)	2/1/2007
Agrium Inc	AGU	$0.20	$0.40	(95.0%)	(3.1%)	2/1/2007
Alex & Baldwin	ALEX	$0.57	$0.42	17.3%	2.6%	2/1/2007
Amis Hldgs Inc	AMIS	$0.16	$0.17	(6.3%)	(1.8%)	2/1/2007
Amer Supercon	AMSC	($0.30)	($0.23)	4.6%	1.3%	2/1/2007
Amazon.Com Inc	AMZN	$0.22	$0.26	66.7%	(4.1%)	2/1/2007
Andrew Corp	ANDW	$0.13	$0.09	15.4%	4.6%	2/1/2007
Apache Corp	APA	$1.67	$2.35	(4.2%)	6.9%	2/1/2007
Ameristar Casin	ASCA	$0.25	$0.27	5.7%	3.6%	2/1/2007
Amer Std Cos-De	ASD	$0.51	$0.46	0.0%	1.6%	2/1/2007
Archstone-Smith	ASN	$0.55	$0.52	(5.5%)	2.3%	2/1/2007
Agl Resources	ATG	$0.57	$0.85	70.4%	(0.9%)	2/1/2007
Alliant Techsys	ATK	$1.30	$1.26	(1.7%)	(1.4%)	2/1/2007
Atmel Corp	ATML	$0.04	$0.05	0.0%	(5.8%)	2/1/2007
Astrazeneca Plc	AZN	$0.98	$0.77	N/A	(2.6%)	2/1/2007
Banco De Chile	BCH	$0.78	N/A	N/A	0.7%	2/1/2007
Brookfield Home	BHS	$1.72	$4.36	7.3%	0.0%	2/1/2007
Boston Scientif	BSX	$0.11	$0.41	0.0%	(2.7%)	2/1/2007
Anheuser Busch	BUD	$0.26	$0.26	1.2%	0.9%	2/1/2007
Ca Inc	CA	$0.21	$0.24	19.1%	(3.8%)	2/1/2007
Catapult Comms	CATT	$0.01	$0.01	(80.0%)	6.1%	2/1/2007
Celgene Corp	CELG	$0.12	$0.02	36.4%	(3.2%)	2/1/2007
Cerner Corp	CERN	$0.37	$0.34	3.1%	0.4%	2/1/2007
Center Finl Cp	CLFC	$0.43	$0.40	(9.5%)	(4.7%)	2/1/2007
Clorox Co	CLX	$0.51	$0.55	4.3%	0.9%	2/1/2007
Comcast Corp A	CMCSA	$0.23	$0.09	36.8%	(2.2%)	2/1/2007
Cohu Inc	COHU	$0.06	$0.53	90.0%	(4.1%)	2/1/2007
Computer Prgrms	CPSI	$0.37	$0.41	(11.1%)	(3.0%)	2/1/2007
Cvs Corp	CVS	$0.43	$0.41	3.1%	3.0%	2/1/2007
Cytec Inds Inc	CYT	$0.77	$0.56	(4.4%)	0.0%	2/1/2007
Deutsche Bk Ag	DB	$3.00	N/A	N/A	1.9%	2/1/2007
Digene Corp	DIGE	$0.15	$0.23	18.8%	2.7%	2/1/2007
Dolby Lab Inc-A	DLB	$0.20	$0.16	66.7%	(1.4%)	2/1/2007
Dun &Bradst-New	DNB	$1.46	$1.29	6.1%	(0.5%)	2/1/2007
Duke Realty Cp	DRE	$0.70	$0.61	4.8%	3.2%	2/1/2007
Diamond Mgmt&Te	DTPI	$0.06	$0.02	14.3%	(4.2%)	2/1/2007
Eci Telecom Ltd	ECIL	$0.08	$0.09	(10.0%)	8.3%	2/1/2007
Empire District	EDE	$0.13	$0.05	(1.3%)	(2.8%)	2/1/2007
Eog Res Inc	EOG	$1.01	$1.97	3.7%	4.7%	2/1/2007
Electr Arts Inc	ERTS	$0.50	$0.86	271.4%	(4.1%)	2/1/2007
Flowers Foods	FLO	$0.24	$0.21	0.0%	0.8%	2/1/2007
Green Mtn Coffe	GMCR	$0.21	$0.38	115.4%	10.7%	2/1/2007
Genworth Finl	GNW	$0.72	$0.62	(5.7%)	(1.0%)	2/1/2007
Goodrich Corp	GR	$0.67	$0.51	6.1%	(1.7%)	2/1/2007
Gateway Inc	GTW	$0.02	$0.04	0.0%	(5.5%)	2/1/2007
Hain Celestial	HAIN	$0.38	$0.33	0.0%	(4.5%)	2/1/2007
Starwood Hotels	HOT	$0.73	$0.71	33.3%	(4.2%)	2/1/2007
Helmerich&Payne	HP	$0.78	$0.47	18.9%	5.7%	2/1/2007
Immunogen Inc	IMGN	($0.14)	($0.09)	16.7%	(2.2%)	2/1/2007
Imperial Oil Lt	IMO	$0.57	$0.68	15.4%	6.4%	2/1/2007
Infospace Inc	INSP	($0.06)	$0.39	71.4%	2.4%	2/1/2007
Intuitive Surg	ISRG	$0.51	$0.68	9.8%	2.2%	2/1/2007
Invest Tech-New	ITG	$0.49	$0.46	0.0%	(1.9%)	2/1/2007
I2 Technologies	ITWO	$0.10	$0.46	400.0%	0.4%	2/1/2007
Interwoven Inc	IWOV	$0.13	$0.10	22.2%	(2.4%)	2/1/2007
Key Energy Svcs	KEGS	$0.46	N/A	N/A	7.9%	2/1/2007
La Barge	LB	$0.19	$0.17	7.1%	(1.7%)	2/1/2007
Labor Ready Inc	LRW	$0.30	$0.28	2.1%	(2.5%)	2/1/2007
Landstar System	LSTR	$0.46	$0.72	6.0%	(4.0%)	2/1/2007
Mid-Am Apt Cmty	MAA	$0.82	$0.81	1.2%	1.8%	2/1/2007
Mapinfo Corp	MAPS	$0.10	$0.11	7.1%	2.0%	2/1/2007
Matsushita Indl	MC	$0.22	$0.19	29.2%	(1.4%)	2/1/2007
Metrocorp Bancs	MCBI	$0.32	$0.27	0.0%	(5.9%)	2/1/2007
Micrel Inc	MCRL	$0.10	$0.11	36.4%	(5.2%)	2/1/2007
Mentor Graphics	MENT	$0.44	$0.42	75.0%	(3.2%)	2/1/2007
M/I Homes Inc	MHO	$1.71	$2.84	(18.2%)	(0.7%)	2/1/2007
Millipore Corp	MIL	$0.81	$0.62	(1.5%)	3.2%	2/1/2007
Monster Wwd Inc	MNST	$0.33	$0.28	0.0%	(3.5%)	2/1/2007
Marathon Oil Cp	MRO	$2.30	$3.61	30.3%	4.3%	2/1/2007
Mineral Tech	MTX	$0.66	$0.63	0.0%	(2.6%)	2/1/2007
Murphy Oil	MUR	$0.43	$0.82	35.6%	3.7%	2/1/2007
Mueller Water	MWA	$0.17	N/A	(16.7%)	0.4%	2/1/2007
Mylan Labs	MYL	$0.36	$0.25	12.9%	1.0%	2/1/2007
Nextest Systems	NEXT	$0.08	N/A	25.0%	(6.7%)	2/1/2007
Nms Commun Corp	NMSS	($0.08)	$0.08	28.6%	(3.5%)	2/1/2007
Nuco2 Inc	NUCO	$0.09	$0.20	0.0%	1.1%	2/1/2007
Neurometrix Inc	NURO	$0.14	$0.06	50.0%	1.7%	2/1/2007
Old Dominion Fl	ODFL	$0.41	$0.39	1.9%	(4.4%)	2/1/2007
On Semicon Corp	ONNN	$0.17	$0.08	15.0%	(0.1%)	2/1/2007
Pioneer Drillng	PDC	$0.49	$0.29	6.8%	5.4%	2/1/2007
Phase Fwd Inc	PFWD	$0.08	$0.05	14.3%	(10.0%)	2/1/2007
Phoenix Cmpnies	PNX	$0.23	$0.27	66.7%	(3.8%)	2/1/2007
Perrigo Company	PRGO	$0.27	$0.24	0.0%	3.4%	2/1/2007
Rackable Systms	RACK	$0.06	$0.33	(25.0%)	(38.3%)	2/1/2007
Elizabeth Arden	RDEN	$0.84	$1.12	91.3%	(0.7%)	2/1/2007
Ruddick Corp	RDK	$0.41	$0.35	(5.1%)	(0.8%)	2/1/2007
Royal Gold Inc	RGLD	$0.21	$0.12	(4.6%)	2.6%	2/1/2007
Rofin-Sinar	RSTI	$0.74	$0.73	2.4%	0.2%	2/1/2007
Radisys Corp	RSYS	($0.12)	$0.11	38.5%	(0.6%)	2/1/2007
Raytheon Co	RTN	$0.67	$0.63	12.5%	0.1%	2/1/2007
Rio Tinto-Adr	RTP	$12.88	N/A	N/A	6.2%	2/1/2007
Ims Health Inc	RX	$0.40	$0.40	2.9%	1.6%	2/1/2007
Secure Computng	SCUR	($0.07)	$0.17	(25.0%)	(1.2%)	2/1/2007
Stancorp Fnl Cp	SFG	$0.98	$1.07	3.2%	0.3%	2/1/2007
Sigmatel Inc	SGTL	($0.33)	$0.16	0.0%	0.5%	2/1/2007
Silicon Motion	SIMO	$0.31	$0.24	12.0%	(7.4%)	2/1/2007
Snap-On Inc	SNA	$0.50	$0.47	14.3%	(0.2%)	2/1/2007
Spectrum Brands	SPC	$0.07	$0.22	(240.0%)	(0.1%)	2/1/2007
Standard Pac	SPF	$0.65	$2.22	46.9%	4.2%	2/1/2007
Sappi Ltd -Adr	SPP	$0.12	$0.01	200.0%	(9.0%)	2/1/2007
St Paul Travlrs	STA	$1.41	$1.09	1.5%	(0.8%)	2/1/2007
Symmetricom Inc	SYMM	$0.11	$0.09	(10.0%)	(2.7%)	2/1/2007
Tollgrade Comm	TLGD	$0.08	$0.14	0.0%	(0.4%)	2/1/2007
Tumbleweed Comm	TMWD	($0.01)	($0.01)	(100.0%)	(4.4%)	2/1/2007
Transatlan Hldg	TRH	$1.61	$0.05	6.0%	(0.6%)	2/1/2007
Under Armour-A	UA	$0.25	$0.16	12.0%	(1.9%)	2/1/2007
Unica Corp	UNCA	$0.00	$0.09	20.0%	(1.5%)	2/1/2007
Upm-Kymmene Adr	UPM	$0.37	N/A	N/A	(2.3%)	2/1/2007
Ultratech Step	UTEK	($0.26)	$0.10	(37.5%)	3.1%	2/1/2007
Valero Energy	VLO	$1.44	$2.00	5.2%	4.7%	2/1/2007
Vertex Pharm	VRTX	($0.40)	($0.20)	2.1%	(8.8%)	2/1/2007
Wesco Intl Inc	WCC	$1.03	$0.86	n/a	(1.2%)	2/1/2007
Webmethods Inc	WEBM	($0.06)	$0.08	25.0%	0.0%	2/1/2007
Wausau Paper Cp	WPP	$0.03	($0.13)	(30.0%)	(3.6%)	2/1/2007
Exxon Mobil Crp	XOM	$1.51	$1.65	10.6%	2.6%	2/1/2007
Yrc Worldwd Inc	YRCW	$1.00	$1.39	(2.3%)	1.3%	2/1/2007
Zilog Inc	ZILG	($0.07)	($0.13)	(50.0%)	(3.8%)	2/1/2007
Arch Coal Inc	ACI	$0.40	$0.13	(14.0%)	2.9%	2/2/2007
Active Power	ACPW	($0.10)	($0.10)	30.8%	10.0%	2/2/2007
Amer Axle & Mfg	AXL	$0.00	$0.09	(25.0%)	5.0%	2/2/2007
Cameron Intl	CAM	$0.86	$0.47	9.6%	3.6%	2/2/2007
Chevron Corp	CVX	$1.78	$1.86	12.8%	2.7%	2/2/2007
Ericsson Lm Adr	ERIC	$0.75	$0.68	n/a	(3.6%)	2/2/2007
Gannett Inc	GCI	$1.49	$1.44	0.0%	(0.3%)	2/2/2007
Harmony Gold	HMY	$0.10	$0.12	N/A	4.2%	2/2/2007
Harris Interact	HPOL	$0.05	$0.04	(50.0%)	1.7%	2/2/2007
Itt Corp	ITT	$0.72	$0.72	1.3%	(2.0%)	2/2/2007
Nyse Group Inc	NYX	$0.46	N/A	4.9%	(6.2%)	2/2/2007
Onebeacon Insur	OB	$0.38	N/A	N/A	0.4%	2/2/2007
Oshkosh Truck	OSK	$0.57	$0.72	(9.6%)	2.0%	2/2/2007
Pacific Capital	PCBC	$0.22	$0.24	8.3%	(1.9%)	2/2/2007
Ryder Sys	R	$1.09	$0.93	1.8%	0.8%	2/2/2007
Republic Svcs	RSG	$0.50	$0.44	5.9%	0.0%	2/2/2007
Simon Property	SPG	$1.55	$1.47	1.6%	2.9%	2/2/2007
Thq Inc	THQI	$0.92	$0.72	2000.0%	(5.9%)	2/2/2007
Volvo Ab Adr B	VOLV	$1.39	N/A	n/a	3.0%	2/2/2007
Viad Corp	VVI	($0.16)	$0.16	24.6%	(1.7%)	2/2/2007
Wendys Intl	WEN	$0.22	$0.49	(3.2%)	(3.3%)	2/2/2007
W-H Energy Svcs	WHQ	$1.02	$0.55	17.2%	6.0%	2/2/2007
Fpl Grp	FPL	$0.52	$0.46	7.5%	0.5%	1/26/2007
Halliburton Co	HAL	$0.62	$0.53	7.4%	1.3%	1/26/2007
Manor Care Inc	HCR	$0.64	$0.55	1.7%	3.9%	1/26/2007
Honeywell Intl	HON	$0.72	$0.61	3.1%	(1.5%)	1/26/2007
Idexx Labs Inc	IDXX	$0.62	$0.65	10.1%	0.7%	1/26/2007
Kbr Inc	KBR	$0.19	n/a	N/A	(4.5%)	1/26/2007
Kla-Tencor Corp	KLAC	$0.71	$0.50	4.4%	(8.2%)	1/26/2007
Kensey Nash Cp	KNSY	$0.15	$0.12	0.0%	(1.1%)	1/26/2007
Multi-Color	LABL	$0.49	$0.40	15.8%	0.2%	1/26/2007
T Rowe Price	TROW	$0.50	$0.43	(6.1%)	(1.3%)	1/26/2007
Yardville Natl	YANB	$0.45	$0.39	(4.1%)	(1.6%)	1/26/2007

¹The Zacks Rank is assigned to companies with earnings estimates made available by brokerage analysts. The Zacks' database contains earnings estimates for approximately 4400 companies

2Some of the companies listed in the earnings calendar may not be in the Zacks Rank universe.

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