CHICAGO, Jul 07, 2008 (BUSINESS WIRE) -- Zacks.com releases the list of companies likely to issue earnings
surprises. This week's list includes General Electric (NYSE: GE). To
see more earnings analysis, visit http://at.zacks.com/?id=3207.

Earnings Preview is written by Charles Rotblut, CFA, Senior Market
Analyst for Zacks.com.

Earnings season "officially" starts on Tuesday with Alcoa's (NYSE:
AA) report. Five other S&P 500 companies will join AA, including
General Electric (NYSE: GE), Marriott (NYSE: MAR), Pepsi Bottling
(NYSE: PBG) and Progressive (NYSE: PGR). GE will be the most important
report out of the bunch because of the company's sheer size and reach.

Overall, 37 companies will report. The third week of July will
have considerably more reports as financial companies start to release
results.

The economic calendar is fairly light. Outside of the weekly oil
inventory report, the data should not move the markets in any
meaningful direction.

Key data will include:

-- Tuesday: May pending home sales, May wholesale inventories,
May consumer credit

-- Wednesday: Weekly crude inventories

-- Thursday: Weekly initial jobless claims

-- Friday: Preliminary July University of Michigan consumer
sentiment survey, June import and export prices, May trade
balance, June treasury budget

No speeches from Federal Reserve Board members are currently
scheduled.

I'm not optimistic about market direction over the next two weeks.
As I state below, GE could miss on Friday. After GE, we will see
reports from multiple financial companies, nearly all of which will
stink up the place.

Oil remains a wildcard, however, and a pullback in crude prices
would help stocks.

There is the possibility that the second-quarter reports from the
financial companies could spark a rebound. The presumption being that
the bad news is already priced in. It would be illogical, however, and
I would not bet on this occurring, but stranger things have happened.

Companies That Could Issue Positive Earnings Surprises during the
Week of July 7 - 11

Changes in earnings estimates and trends in past earnings reports
do not suggest a strong possibility of surprises from any of the
companies scheduled to report over the next five days.

Companies That Could Issue Negative Earnings Surprises during the
Week of July 7 - 11

General Electric (NYSE: GE) has disappointed its shareholders
twice during the past three quarters. Problems within the
conglomerate's financial services unit caused first-quarter earnings
to be seven cents weaker than expectations. Brokerage analysts have
trimmed their second-quarter forecasts within the past 30 days,
knocking the consensus earnings estimate down by a penny to 53 cents
per share. General Electric is scheduled to report on Friday, July 11,
before the start of trading.

Charles Rotblut, CFA, is the senior market analyst for Zacks.com.

Want to turn earnings surprises into quick profits? Learn how by
visiting http://at.zacks.com/?id=3206.

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SOURCE: Zacks.com

Zacks.com
Contact: Charles Rotblut, CFA
Phone: 312-265-9352
Email: pr@zacks.com
Visit: www.Zacks.com

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