(Source: Business Wire)
Zacks.com releases the list of companies likely to issue earnings surprises. This week's list includes Apollo Group (Nasdaq: APOL) and Research in Motion (Nasdaq: RIMM). Also reporting are Lennar Corporation (NYSE: LEN), Monsanto Company (NYSE: MON) and Micron Technology (NYSE: MU). 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=3567.
The Week's Events
Only 52 companies are confirmed to report, including S&P 500 members Apollo Group (Nasdaq: APOL), Lennar Corporation (NYSE: LEN), Monsanto Company (NYSE: MON) and Micron Technology (NYSE: MU).
March employment data is due out on Friday. Keep an eye on nonfarm payrolls, forecasts have the decline holding in the 600k range for the fourth-consecutive month.
Tuesday: March Conference Board consumer confidence, March Chicago PMI, January CaseShiller home price index
Wednesday: March ISM manufacturing index, February pending home sales, February construction spending, March ADP employment data, March auto sales, weekly crude inventories
Thursday: February factory orders, weekly initial jobless claims
Friday: March unemployment and nonfarm payrolls, March ISM services index
Fed Chairman Ben Bernanke will speak at a Fed Reserve credit market symposium on Friday, Apr 3.
Vice Chairman Donald Kohn will also speak on Friday. He will discuss measures to pull the U.S. out of the recession at the College of Wooster, in Wooster, Ohio.
G20 members will meet on Thursday, Apr 20. The meeting could cause some volatility in the dollar, though a major announcement is not expected.
The markets are overbought following the biggest 10-day rally since 1938. Continue to keep an eye on Washington for news about the banking and automobile sectors.
Companies That Could Issue Positive Earnings Surprises
Apollo Group (Nasdaq: APOL) topped expectations during the past 3 quarters by an average margin of nearly 10 cents per share. Ahead of the company's fiscal second-quarter report, one of the covering brokerage analysts raised his forecast. Though the change did not impact the consensus earnings estimate of 65 cents per share, it did result in a more bullish most accurate estimate of 68 cents per share. Apollo Group is scheduled to report on Tuesday, Mar 31, after the close of trading.
Companies That Could Issue Negative Earnings Surprises
During the past 30 days, 5 of the more than 30 covering brokerage analysts have cut their fiscal fourth-quarter forecasts on Research in Motion (Nasdaq: RIMM).
