Key Earnings to Watch This Coming Week (FCEL, PBY, THO, HOV, CIEN, LULU, NSM, TXN, FNSR)

June 3, 2011 by Jon C. Ogg

Earnings season has all but ended as far as the great market-movers.  That does not mean that there are not some interesting companies reporting earnings that need to be watched.  The corporate earnings reports that we will be watching are Fuelcell Energy Inc. (NASDAQ: FCEL), The Pep Boys – Manny, Moe & Jack (NYSE: PBY), Thor Industries Inc. (NYSE: THO), Hovnanian Enterprises Inc. (NYSE: HOV), Ciena Corporation (NASDAQ: CIEN), Lululemon Athletica Inc. (NASDAQ: LULU), National Semiconductor Corporation (NYSE: NSM), and Finisar Corporation (NASDAQ: FNSR).

We have added in Thomson Reuters estimates, added in price action, and added in color if appropriate on each. As a reminder, some of the days and estimates could have changed, and many may change before the actual reports.

Fuelcell Energy Inc. (NASDAQ: FCEL) is due on Monday and this one has been a disaster in alternative energy.  We do not even care about the losses nor do we interpret anything that the company says as being a sector-moving event. All that matters is whether or not the company can reach profits by 2013 or so.

The Pep Boys – Manny, Moe & Jack (NYSE: PBY) is just one more auto parts company with earnings, but it is one which some investors are hoping is a buyout.  Thomson Reuters has estimates of $0.30 EPS and $537.03 million in revenue; next quarter estimates are $0.25 EPS and $534.44 million in revenues.  With shares around $13.60, the 52-week range is $7.86 to $15.96.

Thor Industries Inc. (NYSE: THO) is not about the movie, but it is about RVs. Thomson Reuters has estimates of $0.67 EPS and $848.92 million in revenue; next quarter estimates are $0.83 EPS and $869.73 million in revenues.  With shares around $31.00, the 52-week range is $20.74 to $39.12.

Hovnanian Enterprises Inc. (NYSE: HOV) is due on Tuesday and we are not expecting anything of any merit other than from “other operations” as housing data just stinks now.  Thomson Reuters has estimates of -$0.51 EPS and $263 million in revenue; next quarter estimates are -$0.38 EPS and $341.35 million in revenues.  With shares around $2.46, the 52-week range is $2.31 to $6.19.

Ciena Corporation (NASDAQ: CIEN) is due Wednesday and the equipment maker could have some very volatile shares as traders will have very little else to focus on.  Thomson Reuters has estimates of -$0.10 EPS and $428.1 million in revenue; next quarter estimates are $0.06 EPS and $456.42 million in revenues.  With shares around $25.30, the 52-week range is $11.86 to $29.24.

Lululemon Athletica Inc. (NASDAQ: LULU) is due next Thursday and it has been impossible to not notice that the chart is becoming strained after a monster run up in the yoga and athletic-wear retailer.  Thomson Reuters has estimates of $0.38 EPS and $180.91 million in revenue; next quarter estimates are $0.40 EPS and $196.95 million in revenues.  With shares around $87.25, the 52-week range is $31.08 to $102.83.  We do not expect that investors will be happy with a “meet and reaffirm guidance” quarter.  As a reminder, we saw this as one of the top analyst calls of last week based upon its chart and valuation.

National Semiconductor Corporation (NYSE: NSM) is due next Thursday and we want to remind that this is only being evaluated for the Texas Instruments Inc. (NYSE: TXN) angle. Thomson Reuters has estimates of $0.27 EPS and $365.15 million in revenue; next quarter estimates are $0.29 EPS and $374.9 million in revenues.

Finisar Corporation (NASDAQ: FNSR) is due with earnings next Friday morning. Thomson Reuters has estimates of $0.33 EPS and $242.89 million in revenue; next quarter estimates are $0.38 EPS and $253.9 million in revenues.  With shares around $21.57, the 52-week range is $11.98 to $46.09.  Keep in mind that this one got killed last quarter as shares fell from $40 to $25 and its shares have traded in a range of $21 to $25 almost ever since.

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JON C. OGG

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