Earnings Preview for Aug 24 - 28

Dell (DELL - Analyst Report) will release its results on Thursday, after the close, as second-quarter earnings season nears an end. The technology company is projected to have earned 23 cents per share.

Joining Dell will be fellow S&P 500 members Big Lots (BIG - Analyst Report), Medtronic (MDT - Analyst Report), Novell (NOVL - Snapshot Report), Staples (SPLS - Analyst Report) and Tiffany & Co. (TIF - Analyst Report). A total of 76 companies are confirmed to release results.

Given the surprisingly strong July existing home sales report, all eyes will be on Wednesday's new home sales report. Specifically, economists will want to see that new home sales also rose for a fourth consecutive month.

• Tuesday: August Conference Board consumer confidence, June S&P/Case-Shiller Home Price Index
• Wednesday: July durable goods orders, July new home sales, weekly crude inventories
• Thursday: Preliminary second-quarter GDP, weekly initial jobless claims
• Friday: July personal income and spending, revised August University of Michigan consumer confidence

Atlanta Federal Reserve Bank President Dennis Lockhart will talk to the Chattanooga Area Chamber of Commerce on Wednesday. On Thursday, St. Louis Federal Reserve Bank President James Bullard will speak to MBA students at the University of Arkansas.

The markets are clearly climbing the wall of worry. Though the tailwind from second-quarter earnings has weakened, the markets are still finding upward momentum. At the same time, oil is hitting new highs. It's difficult to make an argument for fighting the trend, though I do worry about how long this rally can last.

Companies That Could Issue Positive Earnings Surprises

Same-store sales for Dollar Tree, Inc. (DLTR - Snapshot Report) surged by 6.8% last month. In response, the majority of the covering brokerage analysts raised their second-quarter profit forecasts, pushing the Zacks Consensus Estimate up 3 cents to 54 cents per share. Given that DLTR has topped expectations for 7 consecutive quarters, another positive surprise could be forthcoming. Dollar Tree is scheduled to report on Wednesday, Aug 26, before the start of trading,

Marvell Technology Group (MRVL - Snapshot Report) has topped expectations over the last 4 quarters by an average margin of 3 cents per share. Ahead of the company's fiscal second-quarter results, 2 of the covering brokerage analysts raised their profit projections. Though the changes did not move the Zacks Consensus Estimate from its current level of 9 cents per share, they did contribute to a more bullish most accurate estimate of 11 cents per share. Marvell Technology is scheduled to report on Thursday, Aug 27, after the close of trading.

Companies That Could Issue Negative Earnings Surprises

During the past few weeks, fiscal fourth-quarter projections on Energy Conversion Devices (ENER - Analyst Report) have been cut. The negative revision caused the Zacks Consensus Estimate to worsen by a penny to a loss of 5 cents per share. The most accurate estimate is even more bearish at a loss of 12 cents per share. Given that ENER missed expectations last quarter, the negative revisions signal that another disappointment could occur. Energy Conversion Devices is scheduled to report on Thursday, Aug 27, before the start of trading.

Charles Rotblut, CFA is the senior market analyst for Zacks.com.

Earnings Calendar

Here is a list of companies that we have confirmed will report during the week of Aug 24 - 28. Prices are as of Thursday's, Aug 20, market close.

Company	Stock	Zacks Estimate	Year Ago EPS	Last Qtr Surprise	Date	Time	Price
Accuray Inc	ARAY - Analyst Report	$0.03	$0.00	150.0%	8/24	AMC	$7.27
China Nepstar	NPD - Snapshot Report	$0.05	$0.08	(20.0%)	8/24	BTO	$6.55
Noah Education	NED - Snapshot Report	$0.04	$0.12	16.7%	8/24	N/A	$4.88
Vimicro Int-Ads	VIMC - Snapshot Report	($0.12)	($0.03)	(50.0%)	8/24	N/A	$2.92
Winn-Dixie Strs	WINN - Snapshot Report	$0.18	($0.10)	158.33%	8/24	AMC	$14.90
Amer Woodmark	AMWD - Snapshot Report	($0.07)	$0.01	540.0%	8/25	BTO	$24.26
Bank Montreal	BMO - Snapshot Report	$0.89	$0.97	12.7%	8/25	N/A	$46.42
Big Lots Inc	BIG - Analyst Report	$0.31	$0.32	10.0%	8/25	BTO	$23.00
Blue Coat Sys	BCSI - Snapshot Report	$0.14	$0.11	(42.9%)	8/25	AMC	$17.57
Borders Group	BGP - Snapshot Report	($0.16)	($0.18)	46.0%	8/25	BTO	$3.57
Burger King Hld	BKC - Analyst Report	$0.33	$0.37	0.0%	8/25	BTO	$17.39
Casual Male Ret	CMRG - Snapshot Report	$0.04	$0.05	133.3%	8/25	N/A	$2.25
Chicos Fas Fnc	CHS - Snapshot Report	$0.10	$0.04	57.1%	8/25	BTO	$11.87
Corinthian Col	COCO - Snapshot Report	$0.24	$0.11	26.1%	8/25	BTO	$16.61
Daktronics Inc	DAKT - Snapshot Report	$0.01	$0.24	(88.9%)	8/25	BTO	$9.17
Dycom Inds	DY - Snapshot Report	$0.15	$0.23	160.0%	8/25	AMC	$13.99
Hain Celestial	HAIN - Analyst Report	$0.31	$0.30	(8.8%)	8/25	AMC	$18.00
Intl Rectifier	IRF - Snapshot Report	($0.27)	($0.25)	(50.0%)	8/25	AMC	$17.31
Linktone Ltd	LTON - Analyst Report	$0.01	($0.11)	100.0%	8/25	AMC	$2.10
Medtronic	MDT - Analyst Report	$0.78	$0.72	0.0%	8/25	BTO	$37.63
Myriad Genetics	MYGN - Analyst Report	$0.23	$0.70	8.7%	8/25	AMC	$25.21
On Track Innov	OTIV - Snapshot Report	($0.13)	($0.29)	(6.7%)	8/25	BTO	$1.44
Sanderson Farms	SAFM - Snapshot Report	$1.79	($0.09)	119.0%	8/25	BTO	$39.43
Staples Inc	SPLS - Analyst Report	$0.16	$0.21	4.8%	8/25	BTO	$21.69
Tti Team Tele	TTIL	$0.01	$0.01	150.0%	8/25	N/A	$0.87
Tuesday Morning	TUES - Snapshot Report	($0.05)	($0.06)	5.9%	8/25	BTO	$3.95
Urologix Inc	ULGX - Snapshot Report	($0.09)	($0.16)	(14.3%)	8/25	AMC	$1.24
Brown Shoe Co	BWS - Snapshot Report	($0.08)	$0.05	56.3%	8/26	BTO	$7.64
Cdn Impl Bk	CM - Snapshot Report	$1.19	$1.61	3.5%	8/26	N/A	$60.75
Charming Shoppe	CHRS - Snapshot Report	$0.00	$0.05	114.3%	8/26	BTO	$5.51
Cninsure In-Adr	CISG - Snapshot Report	$0.17	$0.19	7.1%	8/26	AMC	$17.54
Coldwater Creek	CWTR - Snapshot Report	($0.04)	$0.03	42.9%	8/26	AMC	$6.78
Concurrent New	CCUR - Snapshot Report	$0.15	($0.12)	100.0%	8/26	BTO	$4.92
Dollar Tree Inc	DLTR - Snapshot Report	$0.54	$0.42	11.9%	8/26	BTO	$44.69
Dsw Inc Cl-A	DSW - Snapshot Report	$0.10	$0.25	21.4%	8/26	BTO	$13.51
Guess Inc	GES - Analyst Report	$0.43	$0.57	20.7%	8/26	AMC	$30.16
Heico Corp	HEI - Snapshot Report	$0.41	$0.47	(4.9%)	8/26	AMC	$37.46
Jo-Ann Stores A	JAS - Snapshot Report	($0.39)	($0.47)	172.7%	8/26	AMC	$24.11
Kirklands Inc	KIRK - Analyst Report	$0.01	($0.09)	288.9%	8/26	BTO	$11.99
New York & Co	NWY - Snapshot Report	($0.08)	$0.14	0.0%	8/26	BTO	$4.27
Sigma Designs	SIGM - Snapshot Report	$0.22	$0.35	(7.1%)	8/26	AMC	$16.67
Sws Group Inc	SWS - Snapshot Report	$0.21	$0.27	7.1%	8/26	AMC	$14.28
Tivo Inc	TIVO - Analyst Report	($0.05)	$0.03	20.0%	8/26	AMC	$9.90
Williams-Sonoma	WSM - Snapshot Report	($0.09)	$0.08	33.3%	8/26	BTO	$14.90
Amer Eagle Outf	AEO - Snapshot Report	$0.15	$0.29	14.3%	8/27	BTO	$14.17
A-Power Energy	APWR - Snapshot Report	$0.22	$0.20	(69.2%)	8/27	BTO	$9.59
Aruba Networks	ARUN - Snapshot Report	($0.05)	($0.07)	14.3%	8/27	AMC	$8.29
Bebe Stores Inc	BEBE - Snapshot Report	$0.01	$0.18	50.0%	8/27	AMC	$6.71
China Sunergy	CSUN - Snapshot Report	($0.08)	$0.08	(30.8%)	8/27	BTO	$4.48
Chunghwa Telecm	CHT - Analyst Report	$0.29	$0.36	0.0%	8/27	N/A	$17.04
Conns Inc	CONN - Snapshot Report	$0.34	$0.41	0.0%	8/27	BTO	$12.99
Cost Plus Inc	CPWM - Analyst Report	($0.88)	($1.14)	(16.7%)	8/27	AMC	$1.84
Delias Inc	DLIA - Snapshot Report	($0.17)	($0.16)	14.3%	8/27	BTO	$2.65
Dell Inc	DELL - Analyst Report	$0.23	$0.33	4.3%	8/27	AMC	$14.55
Dollar Finl Cp	DLLR - Analyst Report	$0.32	$0.59	14.3%	8/27	AMC	$15.51
Energy Conv Dev	ENER - Analyst Report	($0.05)	N/A	(16.7%)	8/27	BTO	$12.71
Freds Inc	FRED - Analyst Report	$0.13	$0.10	5.0%	8/27	BTO	$13.00
La Barge	LB - Snapshot Report	$0.19	$0.28	71.4%	8/27	BTO	$9.70
Magma Design	LAVA - Snapshot Report	($0.11)	($0.06)	70.0%	8/27	AMC	$1.44
Marvell Tech Gp	MRVL - Snapshot Report	$0.09	$0.17	100.0%	8/27	AMC	$14.01
Micros Sys	MCRS - Analyst Report	$0.29	$0.37	16.0%	8/27	AMC	$28.06
Net 1 Ueps Tech	UEPS - Snapshot Report	$0.36	$0.38	50.0%	8/27	AMC	$17.50
Netezza Corp	NZ - Snapshot Report	$0.02	$0.05	(100.0%)	8/27	AMC	$9.93
Novell Inc	NOVL - Snapshot Report	$0.06	$0.05	50.0%	8/27	AMC	$4.57
Omnivision Tech	OVTI - Analyst Report	($0.23)	$0.12	11.1%	8/27	AMC	$12.54
Osi Systems Inc	OSIS - Snapshot Report	$0.28	$0.36	20.0%	8/27	BTO	$20.25
Royal Bank Cda	RY - Snapshot Report	$0.82	$0.92	(26.3%)	8/27	N/A	$47.02
Shoe Carnival	SCVL - Snapshot Report	$0.02	$0.08	22.2%	8/27	BTO	$12.89
Solera Holdings	SLH - Snapshot Report	$0.38	$0.33	5.3%	8/27	AMC	$25.03
Telvent Git Sa	TLVT - Snapshot Report	$0.19	$0.20	41.4%	8/27	AMC	$23.65
The9 Ltd-Adr	NCTY - Snapshot Report	$0.44	$0.61	(26.5%)	8/27	AMC	$8.55
Toll Brothers	TOL - Snapshot Report	($1.22)	($0.18)	92.5%	8/27	BTO	$21.90
Toronto Dom Bnk	TD - Snapshot Report	$1.06	$1.32	3.8%	8/27	N/A	$58.20
Vimpel-Comm-Adr	VIP - Analyst Report	$0.42	$0.46	(725.0%)	8/27	BTO	$13.98
Bank Of Nova Sc	BNS - Snapshot Report	$0.68	$0.94	8.3%	8/28	N/A	$41.28
Tiffany & Co	TIF - Analyst Report	$0.33	$0.63	5.3%	8/28	BTO	$30.78

BTO = Before The Market Open, AMC = After The Market Close

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