Market Overview

Media & Retail Highlight Earnings This Week

Media & Retail Highlight Earnings This Week

Summer is beginning to wind down and many of the S&P 500 have already shared second-quarter results. However, there still will be plenty to mull over on the earnings front this week.

The big retailers are beginning to report, and Wall Street analysts are looking for year-on-year gains on the bottom line for CVS Health Corp (NYSE: CVS) and Office Depot Inc (NASDAQ: ODP) when they offer up their most recent quarterly results this week.

Reports from media giants will be another highlight this week. Consensus forecasts have solid top and bottom line growth from Time Warner Inc (NYSE: TWX) and Walt Disney Co (NYSE: DIS), while expectations are lower for results from Twenty-First Century Fox Inc (NASDAQ: FOXA).

See also: Why Wall Street Isn't Freaking Out About LinkedIn's Earnings

CVS Health

This Rhode Island-based company will post $1.21 earnings per share for its second quarter, if the consensus of 15 Estimize estimates is accurate. That would be up from $1.13 per share in the same period of last year. Note that Estimze underestimated EPS by a nickel in the previous period.

Revenue for the three months that ended in June is predicted to have risen from $34.60 billion in the year-ago quarter to $37.20 billion, says Estimize. As with EPS, Wall Street is slightly less optimistic on revenue. Watch for CVS Health to report before Tuesday's opening bell.


When it shares its results late Tuesday, 67 Estimize estimates see this entertainment giant posting earnings of $1.45 a share. That would be up more than 11 percent from the year-ago quarter. Note that the consensus EPS estimate from Wall Street analysts has slipped $0.02 in the past 60 days.

Revenue for the three months that ended in June will be more than 6 percent higher than a year ago to $13.26 billion, if the Estimize consensus is on target. The year-over-year revenue gain in the current quarter is expected to be even greater, according Wall Street expectations.

Office Depot

The second-quarter forecast for this Boca Raton-based specialty retailer calls for it have swung from a net loss of ($0.02) per share in the year-ago period to a profit of $0.06. However, revenues for the three months that ended in June are expected to have retreated more than 7 percent to $3.50 billion.

So far, Wall Street analysts are looking for sequential growth on the top and bottom lines for the current period. Earnings have not fallen short of the consensus forecast in the past four quarters. Office Depot is expected to release its results Tuesday before the regular trading session begins.

Time Warner

The consensus of four estimates for this parent of HBO and Warner Bros. calls for a profit of $1.05 per share and for revenue to total $6.95 billion for its second quarter, when it reports Wednesday morning. That would be down from to $0.98 EPS and revenue of $6.79 billion in the same period of last year.

Note that Time Warner earnings handily topped expectations of both Estimize and Wall Street in the previous period. And also note that analysts predict stronger revenue growth year-over-year, both in the current quarter and for the full year.

Twenty-First Century Fox

Wall Street analysts by and large expect that this diversified media company will post $0.37 per share earnings for its fiscal fourth quarter, which would be a nickel lower than in the year-ago period. But the analysts have underestimated earnings results in the past four quarters.

The forecast also calls for revenue to be more than 23 percent lower than a year ago to $6.46 billion for the most recent period. However, so far sequential and year-on-year growth of EPS and revenue is expected for the current quarter. Look for the most recent results after Wednesday's closing bell.

See also: Apple's Q3 Was Huge, But Q1 Is The One To Watch

And Others

Among the many other reports expected this week, Wall Street also anticipates EPS gains from Energy Transfer Equity, First Solar, Mylan, NextEra Energy, ON Semiconductor, Orbitz Worldwide, Tesoro and Tyson Foods.

However, AIG, Allstate, Barrick Gold, Cablevision Systems, Coach, Continental Resources, Devon Energy, Diamond Offshore Drilling, Kellogg, Keurig Green Mountain, MGM Resorts, Michael Kors, NVIDIA, Petrobras, Prudential Financial, 3D Systems, Transocean and Viacom will show earnings declines, if consensus forecasts are accurate.

And net losses are expected from Apache, IAMGOLD, Nabors Industries, Plug Power, Tesla Motors and Zynga.

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