Zacks Earnings Preview: Best Buy, Discover Financial, Kroger, S.J. Smucker and Federal Express - Press Releases

For Immediate Release

Chicago, IL – June 14, 2010 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes Best Buy (BBY), Discover Financial (DFS), Kroger (KR), S.J. Smucker (SJM) and Federal Express (FDX). To see more earnings analysis, visit http://at.zacks.com/?id=3207.

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The first quarter earnings season is effectively over. There will be just 33 firms reporting next week, and some of those will be reporting second quarter earnings, not first quarter (we define fiscal periods ending in May, June and July as being second quarter). However, among the 33 total are five S&P 500 firms. These are Best Buy (BBY), Discover Financial (DFS), Kroger (KR), S.J. Smucker (SJM) and Federal Express (FDX). The Fed Ex report should be particularly interesting in that its shipment volumes are a telling clue as to how the rest of the economy is doing.

With the week light on earnings reports, most of the attention will be focused on the economic data coming out. It will be a very heavy week for data, but it will all be packed into the three days in the middle of the week. The data will include two regional Fed indexes that are sort of like mini-ISM numbers, key inflation reports and one of the most underrated and very important reports, the one on Industrial Production and Capacity Utilization.

Oh, and we also get Housing Starts and Building Permits. Thus, even without a lot of earnings news there will be more than enough to keep the markets from getting bored.

Dirk Van Dijk, CFA, is the Chief Equity Strategist for Zacks.com.

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Contact: Dirk Van Dijk, CFA
Company: Zacks.com
Phone: 312-265-9211
Email: pr@zacks.com
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