(Source: Business Wire)
Please replace the release dated January 5, 2008 with the following corrected version due to a clarification for Chevron Corporation. Chevron Corporation (NYSE: CVX) will release its fourth-quarter interim update on Thursday, Jan 8. Fourth-quarter earnings results will not be released until Jan 30.
The corrected release reads:
ZACKS EARNINGS PREVIEW: BED BATH & BEYOND, GLOBAL PAYMENTS, KB HOME AND IMMUCOR
Zacks.com releases the list of companies likely to issue earnings surprises. This week's list includes Bed Bath & Beyond Inc. (Nasdaq: BBBY), Global Payments Inc. (NYSE: GPN) and Immucor, Inc. (Nasdaq: BLUD). To see more earnings analysis, visit http://at.zacks.com/?id=3207.
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The Week's Events
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, there are 46 companies confirmed to report this week. Within this group are S&P 500 members Bed Bath & Beyond Inc. (Nasdaq: BBBY) and KB Home (NYSE: KBH).
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
The fiscal second-quarter consensus earnings estimate for Immucor, Inc. (Nasdaq: 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.
