Nike, Monsanto, BlackBerry Highlight The Week's Earnings

Earnings highlights for the week include reports from Carnival Corp CCL, Monsanto Company MON and Nike Inc NKE. Analysts on average expect year-on-year earnings growth these three, but the forecasts call for an earnings decline from Micron Technology, Inc. MU and a net loss from BlackBerry Ltd BBRY.

Here is a quick look at what is expected from these results, as well as a peek at the week's other most prominent reports.

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BlackBerry

While Wall Street analysts are looking for a net loss of $0.04 per share, the consensus estimate of 55 Estimize respondents calls for earnings per share (EPS) of $0.02. Both forecasts see lower revenues for the three months that ended in May: $683.65 million from Wall Street and $714.53 million from Estimize.

Note that both Wall Street and Estimize underestimated EPS and overestimated revenue in the previous two periods. Look for this wireless communications company to release its latest results Tuesday before the regular trading session begins.

Carnival

When it shares its results first thing Tuesday, this Miami-based cruise operator is expected to say its earnings for the most recent quarter came in at $0.18 per share, according to 13 Estimize estimates. That compares with the $0.10 per share posted in the same quarter of last year.

The Estimize forecast for nearly $3.58 billion in revenue is lower than the year-ago $3.63 billion and less than the company guidance for around $3.72 billion for the fiscal second quarter. Note that Estimize respondents overestimated revenue in the previous two quarters.

Micron Technology

In its report late Thursday, this semiconductor and flash memory giant is expected to say that its EPS slipped by $0.11 from a year ago to $0.68, according to 49 Estimize estimates. Wall Street analysts are more pessimistic, placing earnings at $0.61 per share for the fiscal third quarter.

The Estimize forecast also has revenues marginally higher to $4.00 billion for the most recent quarter, compared to Wall Street expectations of $3.92 billion, which would be marginally lower than a year ago. Wall Street also sees revenues that are flat year-over-year for the current period.

Monsanto

The consensus of 19 Estimize estimates has EPS of $2.13 and revenue of $4.68 billion for the fiscal third quarter, when the agricultural products giant reports Wednesday morning. That would be up from the $1.62 per share earnings and revenue of $4.25 billion reported in the same period of last year.

Wall Street analysts see an even bigger gain in revenue for the current period, more than 11 percent to $2.93 billion. Yet, so far they see revenue for the full year that is marginally lower than in the previous year. Note that revenue in the previous quarter was less that the analysts expected.

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Nike

The iconic sportswear maker will report $0.84 per share earnings for its fiscal first quarter, up a nickel from the year-ago period, according to Wall Street. However, some 36 Estimize estimates put the figure at $0.88 per share. Wall Street did underestimate EPS in the past four quarters.

Revenue for the three months that ended in May will be around 3 percent higher to $7.81 billion, says Estimize. Both Wall Street and Estimize overestimated revenues in the previous period. Look for Nike to share it latest quarterly results after Thursday's closing bell.

And Others

Earnings growth is also anticipated from Bed Bath & Beyond, Darden Restaurants, Lennar and Sonic this week. If analysts' estimates are correct, an earnings decline is in store for Accenture, as well as a net loss for Barnes & Noble.

Upcoming earnings to watch for in the lull before the new earnings season include those from ConAgra Foods and General Mills. The new earnings season kicks off when Alcoa reports on July 8, followed by PepsiCo on July 9.

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