Top Earnings Previews For The Week Ahead (LEN, ADBE, CCL, CAG, JEF, ORCL, BBBY, GIS, RHT, KMX, DFS, FDX, NKE, UA, RAD)

The coming week is going to feel like a mini earnings season.  We have many sector leaders reporting earnings and the fallout (or benefits) could be widespread.  On deck are key earnings from the following: Lennar Corporation (NYSE: LEN); Adobe Systems Inc. (NASDAQ: ADBE); Carnival Corporation (NYSE: CCL); ConAgra Foods Inc. (NYSE: CAG); Jefferies Group Inc. (NYSE: JEF); Oracle Corporation (NASDAQ: ORCL); Bed Bath & Beyond Inc. (NASDAQ: BBBY); General Mills Inc. (NYSE: GIS); Red Hat Inc. (NYSE: RHT); CarMax Inc. (NYSE: KMX); Discover Financial Services (NYSE: DFS); FedEx Corporation (NYSE: FDX); Nike Inc. (NYSE: NKE); and Rite Aid Corporation (NYSE: RAD).

We have broken these out by day and included consensus earnings and revenue estimates from Thomson Reuters.  We have also added in a price and recent trading activity and even added in the consensus analyst price targets.  Many of these also have some added color for traders to consider about the earnings reports.

Monday

Lennar Corporation (NYSE: LEN) has estimates of $0.10 EPS and $810.2 million in revenues; next quarter estimates are $0.19 EPS and $908.35 million in revenues.  Shares are trading around $13.90, the 52-week trading range is $12.39 to $21.54.  Wait a minute… EARNINGS rather than losses?  Go figure.

Tuesday

Adobe Systems Inc. (NASDAQ: ADBE) has estimates of $0.54 EPS and $1.03 billion in revenues; next quarter estimates are $0.59 EPS and $1.07 billion in revenues.  Shares are trading around $25.50, the 52-week trading range is $22.67 to $35.99.  Analysts still have a consensus target above $34.00, which seems a bit optimistic in the new normal where Apple’s mobility service is still crimping Flash.

Carnival Corporation (NYSE: CCL) will show the cruise industry who is boss, maybe.  The estimates are $1.63 EPS and $4.91 billion in revenues; next quarter estimates are $0.36 EPS and $3.89 billion in revenues.  Shares are trading around $33.50, the 52-week trading range is $28.96 to $48.14.  Keep in mind that this report is the King-Maker quarter that dictates the earnings for the full year due to the summer travel months.  With an estimate of $1.63 EPS for the quarter, the full year is expected to be $2.46 EPS.  Analysts have a consensus target of $almost $44.75.

ConAgra Foods Inc. (NYSE: CAG) has estimates of $0.31 EPS and $2.96 billion in revenues; next quarter estimates are $0.46 EPS and $3.3 billion in revenues.  Shares are trading around $24.00, the 52-week trading range is $21.02 to $26.60, and the consensus analyst target is $28.13.

Jefferies Group Inc. (NYSE: JEF) has estimates of $0.26 EPS and $665.6 million in revenues; next quarter estimates are $0.36 EPS and $746.1 million in revenues.  Shares are trading around $14.65, the 52-week trading range is $13.85 to $27.12, and the consensus target is $22.22.  Jefferies has not been immune from the market’s pounding of banks and brokerage firms, but this is one broker and i-banker expected to grow.

Oracle Corporation (NASDAQ: ORCL) has estimates of $0.47 EPS and $8.36 billion in revenues; next quarter estimates are $0.57 EPS and $9.38 billion in revenues.  Shares are trading around $29.10, the 52-week trading range is $24.72 to $36.50, and the consensus target is $36.05.  Goldman Sachs just put it on the prized Conviction Buy List ahead of earnings on uncommon valuations.

Wednesday

Bed Bath & Beyond Inc. (NASDAQ: BBBY) has estimates of $0.84 EPS and $2.31 billion in revenues; next quarter estimates are $0.86 EPS and $2.35 billion in revenues.  Shares are trading around $59.75, the 52-week trading range is $40.99 to $60.91, and the consensus target is $63.18.  Does the customer base of Bed Bath and Beyond never know if the economy is soft?

General Mills Inc. (NYSE: GIS) has estimates of $0.62 EPS and $3.8 billion in revenues; next quarter estimates are $0.80 EPS and $4.56 billion in revenues.  Shares are trading around $37.84, the 52-week trading range is $34.54 to $40.00, and the average target is $41.06.

Red Hat Inc. (NYSE: RHT) is the king of Linux and it is being driven with great virtualization now.  It has estimates of $0.25 EPS and $271.18 million in revenues; next quarter estimates are $0.25 EPS and $274.04 million in revenues.  Shares are trading around $40.75, the 52-week trading range is $31.77 to $49.00, and the consensus target is $47.09.

Thursday

CarMax Inc. (NYSE: KMX) has estimates of $0.51 EPS and $2.62 billion in revenues; next quarter estimates are $0.40 EPS and $2.31 billion in revenues.  Shares are trading around $29.30, the 52-week trading range is $23.06 to $37.02, and the consensus target is $38.21.  This one is very dependent upon the economy and we’ll leave it at that.  Still, this is an incredibly run machine.

Discover Financial Services (NYSE: DFS) is one we might not normally care about, but this is going to be our first look in a while into the credit trends of Main Street America’s Joe Public.  The credit card outfit has estimates of $0.91 EPS and $1.77 billion in revenues; next quarter estimates are $0.82 EPS and $1.78 billion in revenues.  Shares are trading around $26.22, the 52-week trading range is $15.55 to $27.92, and the consensus price target is about $28.50.  Take a look at the price here… It is as if the worries are gone.

FedEx Corporation (NYSE: FDX) has estimates of $1.49 EPS and $10.37 billion in revenues; next quarter estimates are $1.62 EPS and $10.57 billion in revenues.  Shares are trading around $76.00, the 52-week trading range is $71.33 to $98.66, and the consensus target is $108.90.  Does that consensus price target feel a bit too stale and old?

Nike Inc. (NYSE: NKE) has estimates of $1.21 EPS and $5.75 billion in revenues; next quarter estimates are $0.98 EPS and $5.43 billion in revenues.  Shares are trading around $89.10, the 52-week trading range is $69.43 to $94.23, and the average target is just over $99.00.  Will we get to hear of any of the Under Armour, Inc. (NYSE: UA) buyout rumors are true?

Rite Aid Corporation (NYSE: RAD) remains one of those companies that we have a very hard time grasping the finances.  It has lingered for so long.  The troubled turnaround drug store chain has estimates of -$0.17 EPS and $6.22 billion in revenues; next quarter estimates are -$0.13 EPS and $6.24 billion in revenues.  Shares are trading around $1.11, the 52-week trading range is $0.87 to $1.47, and there is supposedly a consensus price target of $1.36.  Unfortunately there is just little left to say here.

Stay tuned!  It looks like a very busy earnings week.

JON C. OGG