Also, Energy Conversion Devices Inc. (NASDAQ: ENER) is expected to swing to profit of $0.16 per share, from a loss of $0.16 per share a year ago, while Silicon Graphics Inc. (NASDAQ: SGIC) is expected of narrow its loss to $0.16 per share, from $0.99 per share.

Because U.S. banks are one of the main drivers of this economic downturn, many people are keeping an eye on them for any sign of the bottom. Some Canadian banks are scheduled to report quarterly results this coming week, offering a look at how they are holding up. Here's what Wall Street is expecting.

• Royal Bank of Canada (NYSE: RY): $1.03 EPS (+3.9%)
• Bank of Nova Scotia (NYSE: BNS): $0.94 EPS (-2.1%)
• Toronto-Dominion Bank (NYSE: TD): $1.37 EPS (-8.1%)
• Bank of Montreal (NYSE: BMO): $1.14 EPS (-16.2%)
• Canadian Imperial Bank of Commerce (NYSE: CM): $1.62 EPS (-28.9%)

No losses are expected here, but the outlook is still not very optimistic, either.

Here are some of this week's other expected earnings gainers:

• Corinthian Colleges Inc. (NASDAQ: COCO): $0.09 EPS (+55.6%) on sales of $276.6 million (+17.7%)
• Knightsbridge Tankers Ltd. (NASDAQ: VLCCF): $0.62 EPS (+32.3%) on sales of $19.7 million (-0.4%)
• Big Lots Inc. (NYSE: BIG): $0.27 EPS (+22.2%) on sales of $1.1 billion (+1.4)
• Fred's Inc. (NASDAQ: FRED): $0.10 EPS (+20.0%) on sales of $437.8 million (+3.1%)
• Dollar Tree Inc. (NASDAQ: DLTR): $0.41 EPS (+19.5%) on sales of $1.1 billion (+11.3%)
• Dollar Financial Corp. (NASDAQ: DLLR): $0.58 EPS (+17.2%) on sales of $138.6 million (+27.1%)
• Tiffany & Co. (NYSE: TIF): $0.54 EPS (+16.7%) on sales of $719.9 million (+8.7%)

Given the current environment, the only name on this list that might be a surprise is Tiffany. Note though that two of the jewelry retailer's rivals are also reporting this week. Zale Corp. (NYSE: ZLC) is expected to swing to a loss of $0.57 per share, and Finlay Enterprises Inc. (OTC: FNLY) is expected to increase its loss to $1.19 per share.

And here are other expected earnings decliners:

• PetSmart Inc. (NASDAQ: PETM): $0.28 EPS (-22.2%) on sales of $1.2 million (+8.9%)
• American Eagle Outfitters Inc. (NYSE: AEO): $0.28 EPS (-24.3%) on sales of $709.1 million (+0.8%)
• Men's Wearhouse Inc. (NYSE: MW): $0.70 EPS (-30.0%) on sales of $554.6 million (-2.6%)
• Sears Holdings Corp. (NASDAQ: SHLD): $0.33 EPS (-71.1%) on sales of $11.7 billion (-4.3%)
• Brown Shoe Co. Inc. (NYSE: BWS): $0.06 EPS (-72.7%) on sales of $588.7 million (+2.1%)
• Chico's FAS Inc. (NYSE: CHS): $0.03 EPS (-86.4%) on sales of $405.3 million (-7.0%)

This list reflects the struggle that retailers are facing. Talbots Inc. (NYSE: TLB), Borders Group Inc. (NYSE: BGP), and dELiA's Inc. (NASDAQ: DLIA) are also expected to widen their losses to $0.33, $0.29, and $0.17 per share, respectively. Things are tough for food producers as well, what with rising commodity prices. Del Monte Foods Co. (NYSE: DLM) and Smithfield Foods Inc. (NYSE: SFD) are expected to report that they swung to losses of $0.05 and $0.04 per share, respectively, while Sanderson Farms Inc. (NASDAQ: SAFM) is expected to break even, down from $1.51 per share profit a year ago.

Other economic data scheduled to be released this week include:

• Existing home sales (July 2008): Monday, 10 a.m.
• New home sales (July 2008): Tuesday, 10 a.m.
• Consumer confidence index (August 2008): Tuesday, 10 a.m.
• Durable goods orders (July 2008): Wednesday, 8:30 a.m.
• Preliminary U.S. GDP (Q2 2008): Thursday, 8:30 a.m.
• Personal income (July 2008): Friday, 8:30 a.m.
• Consumer sentiment (August 2008): Friday, 10:00 a.m.

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