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Earnings Reports to Watch Next Week

Industry Comparison:

The chart looks good technically. The 200-day moving average is trending nicely below the current price. However, the 60-day moving average has turned lower.

If Pier 1reports a favorable earnings release, expect the price to retest the 90-day moving average, currently at 17.06. Pier 1 recently sold off after a seemingly favorable reporting of sales.

 Michael Kors (KORS)

About the company: Michael Kors is a global accessories, footwear and apparel company based in Hong Kong. Michael Kors trades an average of 2.5 million shares per day with a market cap of $7.5 Billion.

The consensus fourth-quarter earnings estimate is currently 16 cents a share. The mean fiscal year estimate price-to-earnings ratio is 38.85, based on earnings of 99 cents a share this year.

For the same fiscal period year-over-year, revenue has improved to $803.33 million last fiscal year compared to $508.09 million in the previous year. The bottom line has rising earnings year-over-year of $72.50 million last fiscal year compared to $39.24 million in the previous year.

Kors is new and doesn't have a long chart history to read. The volatility is high like a typical recent initial public offering. Kors will need to deliver strong growth on the top and bottom lines to maintain the lofty earnings multiple. Meeting expectations may not be enough. Watch for a beat or be prepared for further stock weakness.

After Closing Bell

 Finisar (FNSR)

About the company: Finisar is a provider of fiber optic subsystems and network test and monitoring systems. Finisar trades an average of 2.5 million shares per day with a market cap of $1.2 Billion.

Finisar is anticipated to report weak fourth-quarter earnings on June 11. The consensus estimate is currently 16 cents a share, a decline of 12 cents (43%) from 28 cents during the same period last year.

For the same fiscal period year-over-year, revenue has improved to $948.79 million last fiscal year compared to $629.88 million in the previous year. The bottom line has rising earnings year-over-year of $88.09 million last fiscal year compared to $14.13 million in the previous year.

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