Market Overview

Earnings Expectations for the Week of October 22

Earnings Expectations for the Week of October 22

There are lots more on the earnings calendar this week, including results from Apple (NASDAQ: AAPL) for the three months that included the release of the iPhone 5.


Results from Caterpillar (NYSE: CAT) and Yahoo! (NASDAQ: YHOO) will be the highlights on Monday, and analysts expect to see year-over-year earnings growth from both of them.

The heavy equipment maker is forecast to report earnings per share (EPS) of $2.23 on $16.79 billion in revenue, up from $1.71 per share and $15.72 billion in the same period of last year. The Internet portal company's EPS are expected to be 11.5% higher than a year ago to $0.26, while revenue is up marginally to $1.08 billion.

Apparel maker V.F. Corp. (NYSE: VFC) and data storage company Western Digital (NASDAQ: WDC) are expected to post earnings growth on Monday as well, while analysts anticipate declining earnings from Freeport-McMoRan Copper & Gold (NYSE: FCX) and semiconductor maker Texas Instruments (NASDAQ: TXN).


Netflix (NASDAQ: NFLX) is expected to say that its earnings fell about 96 percent from last year to $0.04 per share. However, analysts predict that revenue will be up about 10 percent to $904.89 million. Note that earnings results have been better than expected in the past six quarters.

The forecast for economic bellwether United Parcel Service (NYSE: UPS) calls for $1.06 EPS on revenue of $13.30 billion. That compares with $1.09 per share and $13.17 billion in the third quarter of last year. UPS fell short of consensus EPS estimates in the previous two quarters.

Also on Tuesday, analysts are looking for earnings growth from 3M (NYSE: MMM) and Coach (NYSE: COH). But smaller EPS are expected from DuPont (NYSE: DD), Harley-Davidson (NYSE: HD), Norfolk Southern (NYSE: NSC) and defense contractor United Technologies (NYSE: UTX).


The middle of the week will be busy on the earnings front, including reports from AT&T (NYSE: T), which has seen its consensus EPS estimate shrink over the past 60 days, and Boeing (NYSE: BA), whose consensus EPS estimate has ticked up in the same period.

The Dallas-based telecom's results are expected to be essentially flat year-over-year, or $0.60 per share and $31.58 billion in revenue. The Chicago-based aircraft manufacturer is forecast to report per-share earnings of $1.12 and revenue of $20.03 billion, compared with $1.46 per share and $17.73 billion in the year-ago period.

The day's many other reports include those from Cheesecake Factory (NASDAQ: CAKE), Dr Pepper Snapple (NYSE: DPS), Kimberly-Clark (NYSE: KMB), T. Rowe Price (NASDAQ: TROW) and Wyndham Worldwide (NYSE: WYN), which are anticipated to report earnings growth, as well as Delta Air Lines (NYSE: DAL), whose EPS are predicted to be the same as a year ago. And American Electric Power (NYSE: AEP), Bristol-Myers Squibb (NYSE: BMY), Corning (NYSE: GLW), Eli Lilly (NYSE: LLY), General Dynamics (NYSE: GD), Lockheed Martin (NYSE: LMT) and Northrop Grumman (NYSE: NOC) are expected to post lower earnings.


Following its announced event on Tuesday, Thursday is Apple's (NASDAQ: AAPL) next big day. Analysts believe that per-share earnings for the fiscal fourth quarter will be nearly 10 percent higher than a year ago to $8.85. That is also higher than the consensus EPS forecast of $8.46 from 60 days ago. Sales for the quarter are expected to total $36.23 billion, which would be more than 28 percent higher year-over-year.

Apple's full-year forecast calls for a profit of $44.37 per share and sales of $156.63 billion. That would be up from $27.68 per share on $108.25 billion last year. (NASDAQ: AMZN) and Sprint Nextel (NYSE: S) are both expected to report net losses for their third quarters. The world's largest online retailer is expected to post −$0.08 per share and $13.92 billion in revenue. The loss from Sprint, which just agreed to be bought out by Japanese telecom SoftBank, is predicted to come to $0.43 per share, even though revenue is up almost six percent to $8.81 billion.

Thursday's other anticipated earnings gainers include AutoNation (NYSE: AN), CA Technologies (NASDAQ: CA), Colgate-Palmolive (NYSE: CL), Hershey (NYSE: HSY), Sherwin-Williams (NYSE: SHW) and Starwood Hotels & Resorts (NYSE: HOT). Those expected to offer earnings declines include Aetna (NYSE: AET), CME Group (NASDAQ: CME), ConocoPhillips (NYSE: COP), Dow Chemical (NYSE: DOW), Procter & Gamble (NYSE: PG) and Raytheon (NYSE: RTN).


Cable giant Comcast (NASDAQ: CMCSA) is expected to end the week by reporting a 28.2 percent year-over-year increase in earnings to $0.46 per share. Third-quarter revenue is predicted to total $16.06 billion, which would be 12 percent higher than a year ago. Comcast has fallen short of consensus EPS estimates in just one of the past 10 quarters.

An earnings decline is forecast for Goodyear Tire & Rubber (NYSE: GT). Merck (NYSE: MRK), Newell Rubbermaid (NYSE: NWL) and Rockwell Collins (NYSE: COL) are expected to say that their EPS were about the same as a year ago.

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