CHICAGO, June 2, 2014 /PRNewswire/ -- Zacks.com releases the list of companies likely to issue earnings surprises. This week's list includes Dollar General (NYSE:DG-Free Report), JM Smucker (NYSE:SJM-Free Report), Joy Global (NYSE:JOY-Free Report), FedEx (NYSE:FDX-Free Report) and Oracle (NYSE:ORCL-Free Report).
To see more earnings analysis, visit http://at.zacks.com/?id=3207.
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As Q1 Winds Down, Economic News Takes Forefront
With the Q1 earnings season effectively over and the next reporting cycle a few weeks away, earnings aren't the focus this week. The spotlight is on the economy, with the May non-farm payroll report coming out on Friday. This jobs report isn't expected to be as strong as the last one when 288K jobs were created.
Payback for the weak readings during the Winter months gave us a bumper jobs tally in April, while the gains this month are expected to reflect a more 'normalized' labor market reading. The consensus expectation is of 200K jobs gains on Friday. But with initial jobless claims now at a 7-year low, the risk to consensus estimates is to the upside.
A small number of 2014 Q1 results are still awaited, with this week's reporting docket comprised of 52 companies coming out with results, including 5 S&P 500 members. The notable companies reporting results this week include Dollar General (NYSE:DG-Free Report), JM Smucker (NYSE:SJM-Free Report), Joy Global (NYSE:JOY-Free Report) and others.
After this week, we will have seen Q1 results from 497 S&P 500 and will be getting ready to (officially) close the books on this reporting cycle. We will start tracking the Q2 earnings season in the second half of June with the earnings announcements from FedEx (NYSE:FDX-Free Report) and Oracle (NYSE:ORCL-Free Report).
Scorecard for 2014 Q1 (as of Friday, May 30th)
Total earnings for the 492 S&P 500 members that have reported results are up 1.3% from the same period last year, with a 'beat ratio' of 67.5% and a median surprise of +3.9%. Total revenues are up +2.7%, with a revenue 'beat ratio' of 51.6% and the median company beating top-line expectations by 0.1%.
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