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The week in preview: Expectations remain high for energy and oil

Posted Aug 3rd 2008 12:30PM by Trey ThoelckeTrey Thoelcke RSS Feed
Filed under: Earnings reports, Forecasts, Economic data

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With a turn of the calendar page, we drift into the middle portion of the current quarter, but the earnings season rolls on. Among the many companies scheduled to report quarterly results this coming week are Time Warner Inc. (NYSE: TWX), Cisco Systems Inc. (NASDAQ: CSCO), News Corp. (NYSE: NWS), and Whole Foods Market International (NASDAQ: WFMI). Let's take a look at which companies Wall Street analysts are expecting to be among the top earnings gainers and decliners this week.

Analysts surveyed by Thomson Financial expect the following to report strong earnings growth when compared to the same period of the previous year.

Just as in last week's preview, energy and oil are well represented in this list -- this despite oil prices falling recently. Other companies expected to report double-digit earnings growth include Anadarko Petroleum Corp. (NYSE: APC), Priceline.com Inc. (NASDAQ: PCLN), Molson Coors Brewing Co. (NYSE: TAP), Procter & Gamble Co. (NYSE: PG), Archer Daniels Midland Co. (NYSE: ADM), and Herbalife Ltd. (NYSE: HLF).

Analysts are expecting the following companies to report a significant decline in quarterly profits.

Other companies anticipated to report double-digit earnings declines this week include Vulcan Materials Co. (NYSE: VMC), Sotheby's (NYSE: BID), Polo Ralph Lauren Corp. (NYSE: RL), and Heelys Inc. (NASDAQ: HLYS).

Also, while Freddie Mac (NYSE: FRE), Ambac Financial Group Inc. (NYSE: ABK), MBIA Inc. (NYSE: MBI), and Weyerhaeuser Co. (NYSE: WY) are expected to report that they swung to a loss this past quarter, Beazer Homes USA Inc. (NYSE: BZH), Blockbuster Inc. (NYSE: BBI), Six Flags Inc. (NYSE: SIX), and Lions Gate Entertainment (NYSE: LGF) are expected to narrow their losses.

Other economic data scheduled to be released this week:

  • Personal income (June 2008): Monday 8:30 a.m.
  • Factory orders (June 2008): Monday 10:00 a.m.
  • ISM nonmanufacturing survey (July 2008): Tuesday 10:00 a.m.
  • FOMC interest rate decision (August 2008): Tuesday 2:15 p.m.
  • Public debt (July 2008): Wednesday 3:00 p.m.
  • Consumer credit outstanding (June 2008): Thursday 3:00 p.m.
  • Preliminary productivity and costs (Q2): Friday 8:30 a.m.
  • Wholesale trade (June 2008): Friday 10:00 a.m.

Visit AOL Money & Finance for more earnings coverage.

Tags: ABK, ADM, AIG, Ambac, Anadarko, APC, Barr, BBI, Beazer, BID, Blockbuster, Brightpoint, BRL, BZH, CELL, Cimarex, CINF, CMS, Coors, Devon Energy, DRS, DVN, earnings, economic data, featured, Forest Oil, FRE, Freedie Mac, Frontier Oil, FST, FTO, GAS, Harris Corp., Heelys, Herbalife, HLF, HLYS, HRS, Integrys, LGF, Lions Gate, MBI, MBIA, Molson Coors, MYL, Mylan, Nicor, PCLN, PG, Polo Ralph Lauren, Priceline.com, RIG Sara Lee, RL, SIX, Six Flags, SLE, Sothebys, Sprint, Sprint Nextel, SUN, Sunoco, TAP, TEG, Transocean, VMC, Vulcan Materials, Weyerhauser, Williams Cos., WMB, WY, XEC

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Last updated: November 10, 2009: 10:37 AM

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