BOSTON (TheStreet) -- Earnings season may be mostly over as more than two-thirds of S&P 500 companies have reported second-quarter results. But for investors in stocks under $5, the fun has just begun.

For those searching for inexpensive stocks ahead of earnings reports this week, sifting through the calendar is a daunting task. According to Bloomberg, almost 500 U.S. companies with stocks that trade at less than $5 will report financial numbers this week.

TheStreet narrowed the list of companies to five, excluding real estate investment trusts (REITs). They are ranked by market value.

5. Warner Music Group ( WMG) on the last day of the second quarter announced a partnership with MTV Networks on digital ad sales. MTV will have the exclusive rights to sell advertising inventory around Warner's premium music video content in the U.S. across MTV's digital properties and mobile services as well as on Warner's growing network of proprietary artist sites and third-party affiliate sites.

Share Price: $4.69 (July 30 close)

Earnings Reporting Date: Aug. 5 (unconfirmed)

2010 Performance: -17.1%

Market Value: $724.1 million

Analysts' View: Warner Music should report a loss of 36 cents a share, according to a survey of seven analysts by Thomson Reuters. Over the past month, six research firms have cut their earnings per share targets, including Goldman Sachs, Deutsche Bank and Wedbush Securities. In May, Warner Music posted a narrower-than-expected loss of 17 cents a share, and the shares rose 5%.

4. Sonus Networks ( SONS) said on May 20 it is searching for a new chief executive officer after Richard Nottenburg said he will leave the post at the end of March 2011. The announcement came a few weeks after the Internet hardware and software maker said it narrowed its first-quarter loss to $134,000 from $16.2 million a year earlier.

Share Price: $2.88 (July 30 close)

Earnings Reporting Date: Aug. 3, after market closes (confirmed)

2010 Performance: 36.5%

Market Value: $798 million

Analysts' View: Sonus should break even on a per-share basis, according to a survey of six analysts by Thomson Reuters. That would be down from earnings of 2 cents a share a year earlier, matching the company's first-quarter results.

3. Fortress Investment Group ( FIG) said on June 23 it won't pay a dividend in the second quarter, and instead retain the cash for investments and working capital. The day after the second quarter ended, Fortress announced the acquisition of CWCapital, a loan-servicing and investment-management company. Terms of the deal weren't disclosed.

Share Price: $3.52 (July 30 close)

Earnings Reporting Date: Aug. 5, before market opens (confirmed)

Year-To-Date Performance: -20.9%

Market Value: $1.69 billion

Analysts' View: Seven analysts have an average earnings-per-share target of 8 cents, according to Thomson Reuters. Three research firms, including Goldman Sachs, have trimmed their EPS targets over the past month.

2. Tenet Healthcare ( THC) shares plunged on June 1 after the company confirmed it was in talks to acquire Australia's Healthscope. The stock rebounded after Tenet said on June 7 that it had terminated talks with Healthscope. Its shares rose again on June 14 when the company raised its 2010 earnings guidance due to lower costs and improved paying admissions.

Share Price: $4.60 (July 30 close)

Earnings Reporting Date: Aug. 3, before market opens (confirmed)

2010 Performance: -14.7%

Market Value: $2.2 billion

Analysts' View: Twenty analysts surveyed by Thomson Reuters have an average earnings target of 6 cents a share. Lazard Capital Markets and Susquehanna Financial have increased their EPS targets on Tenet in the past month.

1. Sirius XM ( SIRI) on July 7 said it added 583,249 net subscribers in the second quarter, compared to a net subscriber loss of 186,000 a year earlier. In addition to announcing an improvement in so-called churn, conversion rates and deactivations, Sirius XM said it may add a total of 1.1 million subscribers in 2010.

Share Price: $1.03 (July 30 close)

Earnings Reporting Date: Aug. 4, before market opens (confirmed)

2010 Performance: 71.7%

Market Value: $3.9 billion

Analysts' View: Sirius XM should break even on a per-share basis in the second quarter, according to a survey of nine analysts by Thomson Reuters. On July 12, BGB Securities reduced its penny-a-share profit target to break even, while Janco Partners on July 6 said it expects Sirius to break even.

-- Written by Robert Holmes in Boston.

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