FedEx, Adobe, Oracle: 9 Earnings Reports To Watch June 18-22

By Moran Zhang | June 15 2012 10:31 AM

Wall Street's pessimistic outlook on corporate profits was proved wrong by surprisingly strong first-quarter results. However, will the second-quarter earnings season tell a different story?

Reuters

Oracle said it offered $29.25 per share for Acme Packet to bolster its multimedia capabilities as it competes against IBM, Hewlett-Packard, Cisco Systems and Microsoft.

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As the curtain lifts on the next earnings season, analysts are once again feeling jittery. Companies in the S&P 500 are expected to post a 0.32 percent drop in earnings from the year-ago period, according to S&P Capital IQ. That would be the slowest growth rate in almost three years. In the first quarter, earnings grew by about 7 percent.

We ran a screen and produced a list of nine notable companies set to report their earnings June 18-22. We have highlighted their expected reporting dates and times, along with analysts' earnings-per-share and revenue estimates from Reuters, as well as the stocks' year-to-date performances.

Tuesday Before Market Open, or BMO

FedEx Corp. (NYSE: FDX) is a holding company that provides a portfolio of transportation, online commerce, and business services under the FedEx brand. The company has a market capitalization of $27.39 billion. It is expected to report fiscal year 2012 fourth-quarter EPS of $1.92 on revenue of $11.13 billion, compared with a profit of $1.75 a share on revenue of $10.55 billion in the year-ago period. FedEx is trading around $86.84 a share. So far this year, the stock has appreciated 4 percent.

Barnes & Noble Inc. (NYSE: BKS) is a bookseller. The company has a market cap of $911.96 million. It is expected to report a FY 2012 fourth-quarter loss of 93 cents a share on revenue of $1.48 billion, compared with a loss of $1.04 a share on revenue of $1.37 billion in the year-ago period. Barnes & Noble is trading around $15.15 a share. So far this year, the stock has appreciated 5 percent.

Discover Financial Services (NYSE: DFS) is a direct-banking and payment-services company. The company has a market cap of $17.17 billion. It is expected to report second-quarter EPS of 96 cents on revenue of $1.85 billion, compared with a profit of $1.09 a share on revenue of $1.74 billion in the year-ago period. Discover is trading around $32.37 a share. So far this year, the stock has appreciated 35 percent.

Tuesday After Market Close, or AMC

Adobe Systems Inc. (NASDAQ: ADBE) is a diversified software company. The company has a market cap of $17.17 billion. It is expected to report second-quarter EPS of 59 cents on revenue of $1.11 billion, compared with a profit of 55 cents a share on revenue of $1.02 billion in the year-ago period. Adobe is trading around $31.67 a share. So far this year, the stock has appreciated 12.03 percent.

Wednesday, Time Not Specified

Goodrich Corp. (NYSE: GR) is a worldwide supplier of aerospace components, systems, and services to the commercial and general aviation airplane markets. The company has a market cap of $15.92 billion. It is expected to report second-quarter EPS of $1.71 on revenue of $2.22 billion, compared with a profit of $1.38 a share on revenue of $2 billion in the year-ago period. Goodrich is trading around $126.40 a share. So far this year, the stock has appreciated 2.2 percent.

Wednesday, AMC

Bed Bath & Beyond Inc. (NASDAQ: BBBY) is a chain of retail stores. The company has a market cap of $16.83 billion. It is expected to report FY 2012 first-quarter EPS of 84 cents on revenue of $2.25 billion, compared with a profit of 72 cents a share on revenue of $2.11 billion in the year-ago period. Bed Bath & Beyond is trading around $72.01 a share. So far this year, the stock has appreciated 24.22 percent.

Red Hat Inc. (NYSE: RHT) is engaged in providing open-source software solutions to enterprises. The company has a market cap of $10.44 billion. It is expected to report FY 2013 first-quarter EPS of 27 cents on revenue of $310.87 million, compared with a profit of 24 cents a share on revenue of $264.75 million in the year-ago period. Red Hat is trading around $54.15 a share. So far this year, the stock has appreciated 31.15 percent.

Thursday, BMO

ConAgra Foods Inc. (NYSE: CAG) is a food company. The company has a market cap of $10.25 billion. It is expected to report FY 2012 fourth-quarter EPS of 50 cents on revenue of $3.39 billion, compared with a profit of 47 cents a share on revenue of $3.21 billion in the year-ago period. ConAgra is trading around $24.85 a share. So far this year, the stock has lost 5.87 percent.

Thursday, AMC

Oracle Corp. (NASDAQ: ORCL) is an enterprise software company. The company has a market cap of $133.88 billion. It is expected to report FY 2012 fourth-quarter EPS of 78 cents on revenue of $10.89 billion, compared with a profit of 75 cents a share on revenue of $10.81 billion in the year-ago period. Oracle is trading around $26.91 a share. So far this year, the stock has appreciated 4.91 percent.