The week in preview: Trick or treat earnings?

First Solar Inc.'s (NASDAQ: FSLR) third-quarter profit is expected to be a treat. First Solar appointed a new CEO and secured $300 million in credit during the three months that ended in September. Analysts expect this Tempe, Ariz.-based solar panel maker to report earnings of $1.74 per share, which is 31.0% higher than in the same period of last year. Revenue for the period is expected to be $528.8 million, or 51.6% higher than a year ago. So far, the full-year forecast is for $7.37 per share (+42.5) on $2.0 billion (+60.7%). First Solar earnings have been better than expected in the past five quarters, by as much as 49 cents per share. The long-term EPS growth forecast is 35.4% and the earnings multiple is 24x. First Solar has had more cash on hand than long-term debt in recent quarters. The First Call consensus recommendation has been to buy FSLR for more than 90 days, and the mean price target is currently $161.84. One analyst, however, just downgraded First Solar, and the Motley Fool feels the stock could underperform going forward. At $152.39, shares are 10.1% lower than three months ago, and they have been trading in that ballpark for the past month.

For O'Reilly Automotive Inc.'s (NASDAQ: ORLY) third quarter, the consensus forecast is for earnings of $0.56 per share, up 28.6% from the same period a year ago. Sales for the three months that ended in September are expected to be 10.4% higher to $1.2 billion. For the full year, analysts so far expect to see a profit of $2.13 per share (+23.0%) on $4.8 billion (+34.5%) in sales. O'Reilly's earnings have beat the Street view in the past three quarters, by as much as eight cents per share. The long-term EPS growth forecast is 19.2%, which is better than that of rivals AutoZone Inc. (NYSE: AZO) and Advance Auto Parts Inc. (NYSE: AAP). And O'Reilly's earnings multiple is 15x. The consensus recommendation is to buy ORLY, with a mean price target of $45.10. BloggingStock contributor Joseph Lazzaro recently recommended O'Reilly. Shares have fallen 14.7% in the past three months to $35.02 but are still 13.9% higher year to date.

For-profit education provider DeVry Inc. (NYSE: DV) reported record fourth-quarter and year-end results back in July. For its fiscal first quarter, analysts are looking for DeVry to report a profit of $0.65 per share, up 26.2% from the same period a year ago. Sales for the period that ended in September are expected to be 37.4% higher to $417.2 million. And the forecast is for sequential growth of both EPS and revenue in the second quarter. DeVry hasn't missed earnings expectations in the past four quarters, beating by as much as seven cents per share. The long-term EPS growth forecast is 21.7%, which is better than that of competitor Apollo Group Inc. (NASDAQ: APOL), which also reports earnings this week. DeVry's earnings multiple is 18x, and its net cash flow from operations has grown over recent quarters. The consensus recommendation remains to buy DV, with a mean price target of $61.65. RBC upgraded DeVry due to improvements to and diversity of its offerings. Shares have risen 16.5% in the past three months to close Friday at $55.50.

Global property and casualty insurer Ace Ltd. (NYSE: ACE) announced new initiatives and declared a quarterly dividend in its third quarter, and it is expected to report that earnings rose 23.4% from a year ago to $1.97 per share. But revenue for the period that ended in September is expected to up only 1.7% to $3.3 billion. So far, the full-year forecast is for $7.99 per share (+3.4%) on $13.4 billion (+2.7%). Earnings have been better than expected in the past five quarters, by as much as 28 cents per share. The long-term EPS growth forecast is 8.9% and the earnings multiple is 6.8x. Analysts, on average, recommend buying ACE -- they have for more than 90 days -- and their mean price target is currently $62.97. TheStreet.com also rates it a buy, due in part to Ace's liquidity. Shares are 12.4% higher than three months ago and are approaching the 52-week high of $59.36.

During its fiscal fourth quarter, Visa Inc. (NYSE: V) appointed a strategy chief, renewed its NFL sponsorship, and declared a dividend. Analysts expect this credit card provider to report earnings of $0.72 per share, 19.4% higher than last year. Revenue for the period that ended in September is expected to be 4.1% higher to $1.8 billion. For the full year, the forecast is for $2.90 per share (+22.4%) on $6.8 billion (+8.6%). In the past five quarters, Visa has topped earnings estimates, by as much as 11 cents per share. The long-term EPS growth forecast is 19.3%, which is better than that of MasterCard Inc. (NYSE: MA) and American Express Co. (NYSE: AXP). Visa has had more cash on hand than long-term debt in recent quarters. It also has a consensus buy recommendation, with a mean price target of $79.32. The Motley Fool sees Visa as a good alternative to investing in banks. Shares have climbed 10.2% in the past three months and reached a 52-week high of $76.99 last week.

This week's other treats (i.e., expected earnings gainers) include America Movil (NYSE: AMX), Aflac Inc. (NYSE: AFL), Apollo Group Inc. (NASDAQ: APOL), Baidu Inc. (NASDAQ: BIDU), Buffalo Wild Wings Inc. (NASDAQ: BWLD), Colgate Palmolive Co. (NYSE: CL), McAfee Inc. (NYSE: MFE), and Panera Bread Co. (NASDAQ: PNRA).

But they can't all be treats, of course. Analysts anticipate lower earnings from oil companies Chevron Corp. (NYSE: CVX), ConocoPhillips (NYSE: COP), and Exxon Mobil Corp. (NYSE: XOM), as well as from Aetna Inc. (NYSE: AET), CME Group Inc. (NASDAQ: CME), Corning Inc. (NYSE: GLW), Deutsche Bank (NYSE: DB), General Dynamics Corp. (NYSE: GD), Kellogg Co. (NYSE: K), Motorola Inc. (NYSE: MOT), Procter & Gamble Co. (NYSE: PG), RadioShack Corp. (NYSE: RSH), Verizon Communications Inc. (NYSE: VZ), Washington Post Co. (NYSE: WPO), and Wyndham Worldwide Corp. (NYSE: WYN).

Really ghoulish reports (those posting net losses) are expected from Eastman Kodak Co. (NYSE: EK), E-Trade Financial Corp. (NASDAQ: ETFC), Office Depot Inc. (NYSE: ODP), Revlon Inc. (NYSE: REV), Sony Corp. (NYSE: SNE), Sprint Nextel Corp. (NYSE: S), U.S. Steel Corp. (NYSE: X), Weyerhaeuser Co. (NYSE: WY), and Winn Dixie Stores Inc. (NASDAQ: WINN).

Visit AOL Money & Finance for more earnings coverage.