MINNEAPOLIS ( Stockpickr) -- It was a rough week for stocks, but within the tempest was a calm harbor for a handful of stocks reporting earnings results last week. Names such as Daktronics (DAKT), Phillips-Van Heusen (PVH) and Joy Global (JOYG) moved higher thanks to impressive reports.
For those having difficulty determining the direction of the current market, profits can be made by executing a simple strategy of trading stocks set to release earnings reports. My objective here is to provide snapshot of those companies and the likelihood that they will beat or miss earnings estimates, with the ultimate goal of anticipating the direction in which the stocks will head after their reports.
The stock market is facing tremendous headwinds, including a slowing economy in the midst of disinterest in pumping more money into the system. Fiscal stimulus may be needed, but the likelihood of getting governmental dollars into the economy at a time of massive debts is unlikely. In addition, the Federal Reserve has announced an ending to its quantitative easing program.
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