For Immediate Release
Chicago, IL – June 18, 2012 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes Alcoa (AA), FedEx (FDX), Oracle (ORCL), Discover Financial (DFS) and Carnival Corp (CCL).
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.
Bernanke to Follow Greek Vote
This Sunday’s Greek election will likely have a lot of bearing on the week’s trading action. But we also have the FOMC meeting during the week and the Bernanke press event afterwards, where the expectation is for some positive news (read: more QE) from the central bank. The G-20 meeting in Mexico may result in a lot of exhortations for Germany to do more, but nothing concrete may come out of it.
If anything has kept the market in good cheer in recent days -- despite all the negative headlines coming out of Europe -- it is these hopes that the Fed will come through this week with a helping hand. Greece and the Fed aside, we have a number of key housing industry reports on the docket, ranging from homebuilder sentiment to Starts and Existing Home sales.
We are still some days away from what is generally considered the start of the earnings season when aluminum producer Alcoa (AA) reports results. But we ‘officially’ count all companies that have financial quarters ending in May as part of our second quarter results tally. And many of these companies are starting to come out with results this week. We have a total of 32 companies reporting results in the week, including 12 companies from the S&P 500. The list of companies reporting this week includes a few bellwether names like FedEx (FDX) and Oracle (ORCL).
Monday - 6/18
- The market’s primary driver this morning will be the result of Greek election, which will likely drown out the June Home Builders’ Index coming out in the morning. We may have a coordinated central bank liquidity action should the Greek vote result come out unfavorable.
- The two-day G-20 summit meeting gets underway in the Mexican resort town of Los Cabos. The German Chancellor, Angela Merkel, has been making some noise ahead of the meeting, likely in an effort to preempt pressure from world leaders to ‘do more.’
- The Home Builder Index, which basically reflects builder sentiment, reached a multi-year high in May, but is expected to moderately pull back this month.
Tuesday - 6/19
- We will get the May Housing Starts data in the morning. We got a strong reading on the Starts and Permits front last month and the expectation is for Starts to increase to 725K level in May.
- We will get earnings results from Discover Financial (DFS), FedEx and Carnival Corp (CCL) before the market opens.
Sheraz Mian is the Director of Research for Zacks.com.
About the Zacks Rank
Since 1988, the Zacks Rank has proven that "Earnings estimate revisions are the most powerful force impacting stock prices." Since inception in 1988, #1 Rank Stocks have generated an average annual return of +28%. During the 2000-2002 bear market, Zacks #1 Rank stocks gained +43.8%, while the S&P 500 tumbled -37.6%. Also note that the Zacks Rank system has just as many Strong Sell recommendations (Rank #5) as Strong Buy recommendations (Rank #1). Since 1988, Zacks Rank #5 stocks have significantly underperformed the S&P 500 (+3% versus +10%). Thus, the Zacks Rank system allows investors to truly manage portfolio trading effectively.
Zacks "Profit from the Pros" e-mail newsletter offers continuous coverage of the industries and the stocks poised to outperform the market. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=4988.
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Len Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros by going to http://at.zacks.com/?id=3568.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/ZacksInvestmentResearch
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Contact: Sheraz Mian
More From Zacks.com