This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Two Most Important Company Reports This Week

BOSTON (TheStreet) -- Enough companies have reported third-quarter earnings to reveal the state of U.S. business. Of the S&P 500's constituents, 284 have released financial results, with 77% of those beating Wall Street's estimates.

Still, analysts have been cutting earnings-per-share estimates. The bottom-up EPS estimate for S&P 500 companies for the fourth quarter now stands at $25.03, down 3% from Sept. 30.

The decline "reflects the sharpest drop in earnings expectations for the first month of a quarter since the second quarter 2009, when earnings estimates fell 7% during the month of April 2009," says John Butters, a senior earnings analyst at FactSet Research.

Investors have turned their attention to the economy and the European debt crisis. The S&P 500 is on track for its best monthly performance in 37 years after European leaders reached approval for a writedown of Greek debt and an increase to the European rescue fund. In addition, a strong reading on U.S. gross domestic product last week assuaged fears that a recession was looming.

Nevertheless, the earnings docket is packed for this third peak week of reports -- 103 S&P 500 companies and two on the Dow Jones Industrial Average. Consumer trends will come into the spotlight with reports from MasterCard (MA) and OpenTable (OPEN).

Kraft Foods (KFT) and Pfizer (PFE) are the two Dow components with results due this week, but what they have to say can't be extrapolated across other industries, nor will they likely show different trends than counterparts that have already reported.

Similarly, Clorox (CLX) probably won't give a better indication of global demand for consumer goods than what Procter & Gamble (PG) has said. And AIG (AIG), once the biggest U.S. insurer, "is more of a curiosity than it is a leading indicator," says Paul Nolte, director of investments at Dearborn Partners.

One industry that will be in focus is media, with News Corp. (NWS), CBS (CBS), Comcast (CMCSA), Time Warner (TWX) and Sirius XM (SIRI) on tap. But what each says about advertising revenue, subscriber trends and the shift to digital content may not alter views of the broader economy.

Several companies that recently held initial public offerings will open their books on the previous quarter, including ZipCar (ZIP), Dunkin' Brands (DNKN) and LinkedIn (LNKD).

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs