Late Wednesday, Smith & Wesson Holding Corp. (NASDAQ: SWHC) stepped into the earnings spotlight to release its fiscal first-quarter results. The firearm firm raked in a profit of $12.6 million, or 21 cents per share, sharply higher from its year-ago earnings of $2.3 million, or 5 cents per share. Revenue for the period jumped 30% to $102.2 million, buoyed by a 30% increase in firearm sales and a 39% gain in non-firearm sales.

The results soared past analysts' expectations, which called for a fiscal first-quarter profit of 10 cents per share on $94.1 million in revenue. SWHC's bottom line received a boost of 5 cents per share during the recently concluded quarter from its acquisition of Universal Safety Response Inc.

Isle of Capri Casinos (NASDAQ: ISLE) is getting hammered today in the wake of its latest earnings report. This morning, the company reported that it swung to a fiscal first-quarter profit of $900,000, or 3 cents per share, while revenue for the period slipped 6.3% to $259.9 million. The results were far worse than expected, with consensus estimates on Wall Street predicting a profit of 13 cents per share on $273 million in revenue.

On the cost-cutting front, ISLE's previously planned departure from the international market is on pace, reported Chairman and CEO James B. Perry. "... we remain on track to exit our international operations in the near term, as we will exit the Bahamas no later than October 31, and expect to exit our remaining UK operations by the end of the calendar year."

Autodesk, Inc. (NASDAQ: ADSK) is scheduled to release its first-quarter earnings results after the closing bell today. Analysts, on average, are expecting the company to report a profit of 8 cents per share, down sharply from ADSK's profit of 50 cents per share in the year-ago period. Sales for the period are expected to arrive at $419 million.

Thomson First Call reports that the software concern has exceeded Wall Street's consensus earnings estimates in each of the previous four reporting periods, but pessimism is nevertheless running high ahead of tonight's announcement. On Wednesday, traders on the International Securities Exchange (ISE) bought to open 3,607 puts on ADSK, compared to just 84 calls. In other words, bearish bets were nearly 43 times more popular than their bullish counterparts.

The day's skeptically skewed option volume was simply the extension of a recent trend; ADSK boasts a hefty 10-day ISE put/call volume ratio of 9.56, indicating that traders have consistently preferred puts over calls during the two weeks preceding the earnings release. This ratio ranks in the 99th percentile, revealing that pessimistic options on the equity have rarely been in greater demand.

Struggling clothier Liz Claiborne, Inc. (NYSE: LIZ) stepped into the earnings spotlight early this morning, and the stock is down sharply as investors react to a wider-than-forecast quarterly loss.

LIZ confessed to a first-quarter adjusted loss of 37 cents per share, or 97 cents per share on a GAAP basis. Analysts were expecting a much narrower loss of 22 cents per share. Sales for the period slipped nearly 29% to $779.7 million, falling well short of Wall Street's consensus estimate for revenue of $880.8 million.

Coal concern Alpha Natural Resources, Inc. (NYSE: ANR) has spiked more than 20% today on the heels of its first-quarter earnings report. The company reported a 61% improvement in net income, which rose to $41 million, or 58 cents per share, compared to $25.5 million, or 39 cents per share, in the first quarter of 2008.

Revenue for the period inched higher to $424.4 million. ANR's profit easily exceeded Wall Street's expectations; analysts were looking for a profit of 48 cents per share on $515.5 million.

ANR gapped higher with the sound of the opening bell today, extending its year-to-date advance of 56.4%. If the stock keeps climbing, it could soon have a chance to challenge resistance from its 10-month moving average, which is currently hovering in the $33 neighborhood.

Look for Sequenom, Inc. (NASDAQ: SQNM) to be smacked hard by selling pressure today. Late Wednesday, the company reported that improper handling of research and development test data and results by its employees has delayed the launch of its Down's Syndrome test. Sequenom said it's forming a special committee to investigate employee activity related to the tainted test data.

The company's SEQureDx tests the DNA of a fetus, via the mother's blood, in order to determine whether their blood groups are compatible. Although Sequenom can no longer rely on previously announced test data and results, Chief Executive Harry Stylli asserted, "We are not back at square one" on a conference call.

Casual restaurant chain Buffalo Wild Wings (NASDAQ: BWLD) has been on fire this year, with the stock up more than 63% year-to-date. The company could see its positive price action accelerate after its upcoming turn in the earnings spotlight; BWLD is slated to unveil its first-quarter results on Tuesday, April 28, after the close of trading.

Analysts, on average, are expecting BWLD to report a profit of 46 cents per share, up from 36 cents per share in the first quarter of 2008. The company has a mixed history in the earnings confessional: in its previous four reports, the chain has exceeded analysts' estimates twice, met them once, and fallen short on one other occasion.

Illinois-based Corn Products International, Inc. (NYSE: CPO) stepped into the earnings spotlight this morning, with the food firm reporting first-quarter net income of $17 million, or 22 cents per share, down sharply from $64 million, or 85 cents per share, in the first quarter of 2008. Sales for the period fell 11% to $831.1 million.

The results were impacted by higher net corn costs, softer volumes, and foreign currency translations. Analysts were expecting significantly higher earnings of 49 cents per share, according to Thomson Reuters.

As if the wide earnings miss wasn't enough of a downside catalyst, CPO multiplied its negative momentum by slashing its outlook for the remainder of 2009. "We now anticipate lower volumes in North America due to the economic environment and a slightly longer than anticipated rebound in pricing in Brazil to offset the currency and volume impact," explained Chief Executive Sam Scott.

Industrial metals issue Teck Cominco Limited (NYSE: TCK) is on the upswing following the release of its first-quarter earnings.

The company reported net income of C$241 million, or 50 Canadian cents per share; on an adjusted basis, earnings arrived at 47 cents per share, falling slightly short of analysts' predictions for 51 cents per share. Revenue for the period rose to C$1.71 billion.

Included in the report were several warnings. "It is difficult to forecast coal sales volumes at this stage in the economic cycle and their effect on results for the coming year is uncertain at this time," confessed TCK. For 2009, the firm tentatively expects to sell between 18 and 20 million tons of coal.

San Jose-based SunPower Corporation (NASDAQ: SPWRA) is scheduled to report its first-quarter earnings after the market closes this Thursday, April 23. Thomson First Call notes that analysts, on average, are expecting the solar issue to report a profit of 25 cents per share, down from 39 cents per share in the same quarter of 2008.

SPWRA has has an impressive history in the earnings spotlight, having exceeded the Street's profit expectations in each of the previous four reporting periods. Judging by option activity in recent weeks, some investors are betting on the stock to exceed earnings estimates yet again.

The shares of Regions Financial Corporation (NYSE: RF) surged this afternoon after the regional bank said it expects to report a first-quarter profit. In a regulatory filing with the Securities and Exchange Commission (SEC), Chairman and CEO Dowd Ritter attributed the unexpectedly profitable quarter to recent strength in new account openings and customer deposit growth.

If Wall Street seems shocked by the news, it's because analysts were predicting Regions to swallow a quarterly loss of about $290 million, or 42 cents per share, according to Thomson Reuters. Plus, with nearly 5% of the equity's float sold short, it seems that many investors were also betting on the bank to report gloomy earnings.

Shares of Hormel Foods Corporation (NYSE: HRL) are on the upswing today, after the packaged-foods firm exceeded analysts' first-quarter earnings expectations. The company's upside surprise is partially attributable to strong sales of its infamous canned meat, Spam, which successfully lured in cost-conscious consumers.

During the recently concluded quarter, HRL banked a profit of $81.4 million, or 60 cents per share. That's an 8% slide from the same quarter last year, but analysts were expecting a profit of just 51 cents per share. Net sales rose 4% to $1.69 billion, with strong results for Dinty Moore stews, Hormel chili, and the aforementioned Spam.