Well, last week's Beige Book report and other indicators didn't in fact make it clear whether economic recovery is underway. So what do we have to look forward to this week?
There's Treasury Secretary Timothy Geithner's testimony at the House Committee Hearing on the Financial Regulation Plan on Wednesday evening. Or how about the bankruptcy filings for the second quarter or Leading Indicators Index for May, scheduled to be released Monday afternoon and Thursday morning, respectively. Will they provide a clear signal about the direction of the economy? Probably not.
Also look for the New York Empire Manufacturing Index for June on Monday morning, the Producer Price Index and industrial production numbers for May on Tuesday morning, and the Philly Fed Outlook Survey for June on Thursday morning.
There's also the National Association of Home Builders Housing Market Index for June Monday afternoon and housing starts for May Tuesday morning, as well as the Consumer Price Index for May on Wednesday morning.
Things are still quiet on the earnings front this week as the quarter winds down. But the few household-name companies that are scheduled to report are largely expected by analysts surveyed by Thomson Reuters to post lower profits. They include Adobe Systems Inc. (NASDAQ: ADBE), Best Buy Co. Inc. (NYSE: BBY), CarMax Inc. (NYSE: KMX), Carnival Corp. (NYSE: CCL), FedEx Corp. (NYSE: FDX), and J.M. Smucker Co. (NYSE: SJM). As the economic slump has dragged on, Discover Financial Services (NYSE: DFS), La-Z-Boy Inc. (NYSE: LZB), Pier 1 Imports Inc. (NYSE: PIR), and Winnebago Industries Inc. (NYSE: WGO) are expected to report losses for the most recent quarter.
Analysts are looking for fiscal fourth-quarter earnings from Casey's General Stores Inc. (NASDAQ: CASY) that are 22.2% higher than a year ago, or $0.36 per share. But revenue for the quarter is expected to have fallen 26.8% to $881.6 million. The forecast for the full-year results is $1.73 per share (+3.5%) on $4.7 billion (-2.9%). The Iowa-based convenience store operator, which competes with the likes of privately held 7-Eleven Inc., has topped earnings expectations in three of the past four quarters, by as much as eight cents per share. The long-term EPS growth forecast is 11.3%, which is better than the services sector average. The company's forward PE ratio estimate is 14.0, about the same as the industry average. The First Call consensus recommendation remains to buy CASY; Zacks recommends it for its growth and its dividend. Shares are 5.5% higher in the past three months to $25.43.
Colorado-based information provider IHS Inc. (NYSE: IHS) is expected to report a profit of $0.55 per share for the second quarter, which is 16.4% higher than a year ago. Revenue is expected to be 14.8% higher to $237.8 million. IHS earnings have beat expectations in recent quarters, by as much as eight cents per share. The long-term EPS growth forecast is 18.3%, which is much better than the industry average, and the forward PE ratio estimate is 20.0. The consensus recommendation is to buy IHS; one analyst recently initiated coverage with a buy recommendation. Shares are up 35.7% since the beginning of the year to $50.76, but they are still 20.5% lower than a year ago.
For a fiscal first quarter during which the BlackBerry Curve overtook the iPhone as best-selling handset in the U.S., Research In Motion Ltd. (NASDAQ: RIMM) is expected to post a profit that is 9.7% higher than a year ago, or $0.93 per share. RIM's revenue for the quarter is expected to have soared 52.4% to $3.4 billion. The Canadian company's earnings have topped expectations in three of the past five quarters, by as much as six cents per share. The long-term EPS growth forecast is 22.3%, which is better than Apple Inc.'s (NASDAQ: AAPL). The consensus recommendation is to buy RIMM. Shares have surged since hitting a 52-week low of $35.05 in March, closing Friday at $83.02. But that's still well off the 52-week high of $148.13.
Analysts expect financial data provider FactSet Research Systems Inc. (NYSE: FDS), for a third quarter in which it raised its quarterly dividend, to report earnings of $0.72 per share, which is 9.7% higher than a year ago. Revenue is expected to 5.3% higher to $155.2 million. For the full year, analysts are currently expecting to see $2.87 per share (+12.9%) on $622.8 million (+8.2%). The Connecticut company's earnings topped estimates in the past four quarters, by as much as 15.5%. The long-term EPS growth forecast is 14.8%, and the debt-free company's forward PE ratio estimate is 17.0. The Motley Fool likes FDS for its growth potential and dividend. At $50.77, shares are up 14.8% year to date, but 19.6% lower than a year ago.










