The Fool's Look Ahead
By Rick Aristotle Munarriz
September 20, 2008
Monday
You'll get a feel for the automobiles on Monday, when AutoZone (NYSE: AZO) and CarMax (NYSE: KMX) report. The companies aren't exactly related: AutoZone runs an auto parts retail chain, while CarMax specializes in selling used cars. However, both companies should be holding up better than the new car market is, as penny-pinching drivers turn to used cars and emphasize the maintenance of their existing cars to make them last longer.
Tuesday
Homebuilder Lennar (NYSE: LEN) has its quarterly open house on Tuesday, and you just know the company is going to post another loss. There's a glut of existing homes that remain unsold or are being sold off as bank-foreclosed properties at steep discounts. Lennar has posted five consecutive quarters of losses. The real takeaway from investors will be whether the company sees any relief in the near term.
Wednesday
A few household names check in on Wednesday, including Nike (NYSE: NKE) and Bed Bath & Beyond (Nasdaq: BBBY). The athletic-footwear giant and the housewares-superstore chain have little in common, but both are expected to post bottom-line results that are slightly lower than their profits last year.
Thursday
On the credit front, Discover Financial Services (NYSE: DFS) reports on Thursday. The company behind the Discover credit card is projected to post a profit of $0.36 a share in its latest quarter, shy of the $0.42 a share it posted a year ago. Investors may be jittery with all of the wackiness in financials lately, but Discover has topped Wall Street's estimates in each of the past four quarters.
Friday
If one residential developer's report isn't enough, tune in on Friday for KB Home (NYSE: KBH). The report is unlikely to be materially different in substance from what Lennar delivers, considering that KB Home has also posted quarterly deficits in each of the past five quarters. The chances that Dorothy will tap together her glass slippers and say "there's no place like KB Home" appear to be slim to none.
Until next week, I remain,
Rick Munarriz
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