Micron Technology, Walgreens, Commercial Metals and Finish Line

CHICAGO--([ BUSINESS WIRE ])--Zacks.com releases the list of companies likely to issue earnings surprises. This week's list includes Micron Technology (NYSE: [ MU ]), Walgreens (NYSE: [ WAG ]), Commercial Metals (NYSE: [ CMC ]) and Finish Line (Nasdaq: [ FINL ]). To see more earnings analysis, visit [ http://at.zacks.com/?id=3207 ].

"Earnings estimate revisions are the most powerful force impacting stock prices."

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Housing Numbers Key to Next Week

Potential Positive Surprises

Historically the best indicators of firms likely to report positive surprises are a recent history of positive surprises and rising estimates going into the report. The Zacks Rank is also a good indicator of potential surprises. Some of the companies that have these characteristics include:

Micron Technology (NYSE: [ MU ]) is expected to report earnings of $0.07 vs. a loss of $0.72 last year. Last time out, they posted a slight positive surprise and the analysts have more than tripled the estimates for this quarter over the last month (OK, to keep it in perspective, they only increased it by $0.05 -- fun with percentages near zero). MU is a Zacks Rank #3 stock.

Walgreen's (NYSE: [ WAG ]) is expected to report earnings of $0.48, up from 0.41 a year ago. Last time out, they beat by 12.8%, and over the last month analysts have raised their estimates for the about-to-be-reported quarter by 1.28%. The stock holds a Zacks Rank #2.

Potential Negative Surprises

In keeping with the overall very positive tone of this earnings season, the potential negative firms are less clear cut. However:

Commercial Metals (NYSE: [ CMC ]) is expected to post a loss of $0.03 a share, versus earnings of $0.49 a share a year ago. However, last time they did post a positive surprise, beating by 6.0%. The mean estimate for the quarter is down 3.33% over the last month and the stock has a weak Zacks Rank #5.

Finish Line (Nasdaq: [ FINL ]) is expected to lose $0.10 a share this year versus a loss of $0.16 last year. They reported in-line last time out, but analysts have cut the estimate for this quarter by 9.19% over the last month. The stock holds a Zacks Rank #4.

Dirk Van Dijk, CFA, is the Chief Equity Strategist for Zacks.com.

About the Zacks Rank

Since 1988, the Zacks Rank has proven that "Earnings estimate revisions are the most powerful force impacting stock prices." Since inception in 1988, #1 Rank Stocks have generated an average annual return of +28%. During the 2000-2002 bear market, Zacks #1 Rank stocks gained +43.8%, while the S&P 500 tumbled -37.6%. Also note that the Zacks Rank system has just as many Strong Sell recommendations (Rank #5) as Strong Buy recommendations (Rank #1). Since 1988, Zacks Rank #5 stocks have significantly underperformed the S&P 500 (+2% versus +9%). Thus, the Zacks Rank system allows investors to truly manage portfolio trading effectively.

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Micron Technology, Walgreens, Commercial Metals and Finish Line