This week marks the beginning of the end of corporate earnings season for the first quarter of 2011.  Many off-calendar quarters will be seen starting next week or the week after.  Wednesday is a big earnings day and we have compiled some previews for the following: Allergan Inc. (NYSE: AGN); AOL Inc. (NYSE: AOL); Garmin Ltd. (NASDAQ: GRMN); Goldcorp Inc. (NYSE: GG); JDS Uniphase Corporation (NASDAQ: JDSU); MetLife Inc. (NYSE: MET); News Corp. (NASDAQ: NWSA); PG& E Corp. (NYSE: PCG); Tesla Motors, Inc. (NYSE: TSLA); Time Warner Inc. (NYSE: TWX); Transocean Ltd. (NYSE: RIG); Vonage Holdings Corporation (NYSE: VG); and Whole Foods Market, Inc. (NASDAQ: WFMI).

Allergan Inc. (NYSE: AGN) is due Wednesday morning and shares were down 2.3% at $78.52 late on Tuesday.  Thomson Reuters has estimates of $0.74 EPS and $1.22 billion in revenues; next quarter estimates are $0.92 EPS and $1.32 billion in revenues.  Thomson Reuters has a consensus price target objective of $80.75 and the 52-week trading range is $56.26 to $80.70.

AOL Inc. (NYSE: AOL) is due Wednesday morning. Thomson Reuters has estimates of $0.17 EPS and $536.35 million in revenues; next quarter estimates are $0.22 EPS and $521.22 million in revenues.  The shares were trading around $20.30 late on Tuesday. Thomson Reuters has a consensus price target of $24.77 and the 52-week trading range is $18.51 to $27.65.

Garmin Ltd. (NASDAQ: GRMN) has managed to hold up despite competition and changing demand concerns.  The stock was around $33.50 late on Tuesday with earnings early Wednesday morning. Thomson Reuters has estimates of $0.33 EPS and $413.09 million in revenues; next quarter estimates are $0.65 EPS and $637.04 million in revenues.  Thomson Reuters has a consensus price target objective of $31.53 and the 52-week trading range is $26.11 to $39.05.

Goldcorp Inc. (NYSE: GG) may trade around gold more than earnings.  Shares were down 3.3% late in the day at $51.00. Thomson Reuters has estimates of $0.48 EPS and $1.26 billion in revenues; next quarter estimates are $0.53 EPS and $1.36 billion in revenues.  Thomson Reuters has a consensus price target objective of $64.50 and the 52-week trading range is $38.07 to $56.20.

JDS Uniphase Corporation (NASDAQ: JDSU) will come Wednesday afternoon and shares have come back to about $20.25. Thomson Reuters has estimates of $0.20 EPS and $448.17 million in revenues; next quarter estimates are $0.25 EPS and $470.18 million in revenues.  Thomson Reuters has a consensus price target objective of $24.74 and the 52-week trading range is $9.05 to $29.12.

MetLife Inc. (NYSE: MET) is due Wednesday morning and Thomson Reuters has estimates of $1.26 EPS and $15.89 billion in revenues.  Shares were around $46.32 late Tuesday and Thomson Reuters has a consensus price target objective of $55.44 and the 52-week trading range is $35.38 to $48.72.

News Corp. (NASDAQ: NWSA) is trading around $17.55 late Tuesday and Thomson Reuters has estimates of $0.27 EPS and $8.42 billion in revenues; next quarter estimates are $0.29 EPS and $8.45 billion in revenues.  Thomson Reuters has a consensus price target objective of $19.61 and the 52-week trading range is $11.61 to $18.13.

PG& E Corp. (NYSE: PCG) is due Wednesday morning and Thomson Reuters has estimates of $0.81 EPS and $3.59 billion in revenues; next quarter estimates are $1.02 EPS and $3.58 billion in revenues.  PG&E was around $46.10 late Tuesday and Thomson Reuters has a consensus price target objective of $49.30 and the 52-week trading range is $34.95 to $48.63.

Tesla Motors, Inc. (NYSE: TSLA) is due Wednesday and Thomson Reuters has estimates of -$0.52 EPS and $43.3 million in revenues; next quarter estimates are -$0.53 EPS and $46.89 million in revenues.  This remains a guidance or outlook story for 2012 more than an earnings story of today. The stock was around $26.85 late on Tuesday and Thomson Reuters has a consensus price target objective of $36.10 and the 52-week trading range is $14.98 to $36.42.

Time Warner Inc. (NYSE: TWX) is tentatively due Wednesday morning and shares were around $37.50 in late-Tuesday trading.  Thomson Reuters has estimates of $0.57 EPS and $6.45 billion in revenues; next quarter estimates are $0.62 EPS and $6.77 billion in revenues.  Thomson Reuters has a consensus price target objective of $41.08 and the 52-week trading range is $27.99 to $38.62.

Transocean Ltd. (NYSE: RIG) is due Wednesday morning and is still well off of its prior highs with shares around $69.60.  Thomson Reuters has estimates of $0.80 EPS and $2.25 billion in revenues; next quarter estimates are $1.21 EPS and $2.44 billion in revenues.  Thomson Reuters has a consensus price target objective of $87.71 and the 52-week trading range is $41.88 to $85.95.

Vonage Holdings Corporation (NYSE: VG) is due Wednesday morning and the stock is above $5.00 at $5.18 late Tuesday.  This won’t move the market but it is a key cult stock with millions of loyal subscribers. This has VERY think analyst coverage. Thomson Reuters has estimates of $0.06 EPS and $218.84 million in revenues; next quarter estimates are $0.06 EPS and $219.14 million in revenues.  Thomson Reuters has a consensus price target objective of $4.20 and the 52-week trading range is $1.45 to $5.30.

Whole Foods Market, Inc. (NASDAQ: WFMI) is due Wednesday afternoon and the stock was at $59.69 late Tuesday and has traded as though its price got way ahead of the valuations, even if earnings are supposed to be strong after the high-end grocer has beat and raised guidance of late. Thomson Reuters has estimates of $0.46 EPS and $2.37 billion in revenues; next quarter estimates are $0.45 EPS and $2.41 billion in revenues.  Thomson Reuters has a consensus price target objective of $61.76 and the 52-week trading range is $33.96 to $66.87.

As a reminder, all earnings dates and estimates are subject to change.

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JON C. OGG

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