Top 10 Earnings For The Week Ahead (ADBE, FDX, JBL, BBBY, GR, RHT, KMX, CAG, ORCL, RAD)

Earnings season has been over for a few weeks now, but there are going to be several key earnings events in the week ahead. 24/7 Wall St. wanted to issue some brief previews on the companies which will be covered more in-depth as the reports come out.

We have shown earnings previews for the week ahead for the following companies: Adobe Systems Inc. (NASDAQ: ADBE); FedEx Corporation (NYSE: FDX); Jabil Circuit Inc. (NYSE: JBL); Bed Bath & Beyond Inc. (NASDAQ: BBBY); Goodrich Corp. (NYSE: GR); Red Hat Inc. (NYSE: RHT); Carmax Inc. (NYSE: KMX); ConAgra Foods Inc. (NYSE: CAG); Oracle Corporation (NASDAQ: ORCL); and Rite Aid Corporation (NYSE: RAD).

We have shown consensus earnings estimates from Thomson Reuters, shown some recent share price performance, and added color if applicable.

Tuesday, June 19

Adobe Systems Inc. (NASDAQ: ADBE) is expected to report earnings of $0.59 EPS and $1.11 billion in revenues.  This stock has sort of become stuck and the $32.10 price is still between support and resistance. Each closing peak has been at a lower close on a much longer-term basis, but there is decent support just above $30.00. The 52-week range is $22.67 to $34.78 and the market value is almost $16 billion as of now.  Perhaps the non-Apple Inc. (NASDAQ: AAPL) woes of the still-persistent Flash fight over HTML5 is where Adobe plans to find its next wave of growth.

FedEx Corporation (NYSE: FDX) is expected to report $1.92 EPS on $11.12 billion in sales. A recent charges announced from a fleet retirement overshadowed its dividend hike.  The $86.84 share price compares to a 52-week range of $64.07 to $98.66.

Jabil Circuit Inc. (NYSE: JBL) has estimates of $0.64 EPS and $4.29 billion in revenue. With shares trading just under $19.00 its 52-week range is $13.94 to $27.40. We would be paying close attention to other electronic manufacturing services outfits on this report.

Wednesday, June 20

Bed Bath & Beyond Inc. (NASDAQ: BBBY) has been an amazing growth story and we still have some non-earnings expectations.  With shares up around $73.00 and with a 52-week range of $48.75 to $74.67, this stock is effectively at all-time highs and with a market value of almost $17 billion.  Will it split shares with earnings, or will finally pay out the dividend that shareholders deserve here?  This retail giant is expected to report earnings of $0.84 EPS and $2.25 billion in revenues.

Goodrich Corp. (NYSE: GR) needs to be watched now that many airlines have supposedly tightened in their spending plans.  Ditto for the defense contracting.  The reason we bring these up is because Goodrich shares appear to have hit an all-time high of $126.85 on Friday at a time when some expect some slowing industry trends.  The market value is about $16 billion now.  This company has earnings estimates of $1.71 EPS and $2.22 billion in revenue.

Red Hat Inc. (NYSE: RHT) still trades with a high market multiple premium on earnings, mostly due to its virtualization and integration of Linux with other key network and datacenter issues.  The market value is now $10.65 billion with shares at $55.40 and the 52-week range is $31.77 to $62.75. Red Hat has estimates of $0.27 EPS and $310.84 million in revenue. As a reminder, Red Hat can be very volatile around earnings and it trades at about 46-times this year’s expected earnings.

Thursday, June 21 

Carmax Inc. (NYSE: KMX) is expected to report earnings of $0.54 EPS and sales of $2.84 billion.  With the focus moving to so many new cars of late, this stock is well off of its highs now.  At $27.60, the 52-week range is $22.77 to $35.17 and the market cap is $6.25 billion.

ConAgra Foods Inc. (NYSE: CAG) is a defensive food giant worth $10.3 billion in market cap.  The stock has not has pulled back from its highs but it still offers a rather high dividend yield of about 3.9%.  Earnings estimates here are $0.50 EPS and $3.39 billion in revenue.

Oracle Corporation (NASDAQ: ORCL) is expected to report earnings of $0.78 EPS and $10.89 billion in revenues.  Oracle has been stuck as a stock and May turned out to be exceptionally hard on the company.  The December earnings tank was one of its worst reports and Larry Ellison and crew just have not regained the trust of investors yet. At $27.55, Oracle’s 52-week trading range is $24.72 to $34.13.  The market value is $137 billion and investors continue to worry about the Sun business even if it trades at barely 11-times earnings.

Rite Aid Corporation (NYSE: RAD) was recently addressed as a takeover target with 61% upside in a research report, but the company keeps losing money and is expected to keep losing money ahead.  In short, it is a turnaround which just never really can turn around.  Earnings estimates are -$0.03 EPS on $6.44 billion in revenue. Its $1.1 billion market cap is very misleading over the enterprise value due to a large debt load. The share price of $1.22 compares to a 52-week trading range of $0.85 to $2.12.

As a reminder, some of these estimates may change ahead of the actual earnings reports and some estimates may have already changed.

JON C. OGG