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With a little less than half of the S&P 500 still waiting to report their quarterly earnings, there are still plenty of trading opportunities to be had in the coming weeks. On Tuesday, a lineup of well-known companies will be checking in with earnings that could make for a lively day of trading. Here are some names for investors to keep an eye on as the day unfolds.
Ichan Seeking More Influence
The large cap biotech company Biogen Idec (Nasdaq: BIIB) will report its Q4 results before the market open on Tuesday. Analysts are expecting the company to report a 12.9% increase in EPS on a 5.4% bump in total revenue from its year-ago quarter. Shares of BIIB are flat in 2010, but were up 12.3% in 2009.
Biogen Idec recently confirmed that activist investor Carl Ichan intends to make a bid for three of the company’s board seats. Ichan Partners and affiliated investors own approximately 5.6% of Biogen Idec’s outstanding shares. Traders looking to capitalize on this fluid situation can benefit from checking out our free BIIB trading report prior to placing any orders.
The China-based search services company Baidu (Nasdaq: BIDU) is also due to report earnings on Tuesday. After the closing bell, analysts will be looking for Baidu to report a big Q4. The consensus is that EPS will spike 37.7% on a 36.5% surge in revenue versus the company’s year-ago quarter. Traders looking to place a bet on this stock going into earnings can review our free BIDU trading report for additional insight.
Blue Chips on Deck
Coca-Cola (NYSE: KO) is one of a couple of Dow components that are slated to report quarterly results on Tuesday. Before the market open, analysts will be calling for the consumer goods company to check in with a 4.7% improvement on EPS on a 1.2% rise in total sales when compared to its prior year quarter.
During Q3, Coca-Cola reported sound international case volume improvement with major year-over-year gains coming from India and China. The company said that its productivity initiatives are on track to save Coca-Cola $500 million annually by 2011. Last year, its stock price rose 29.5%, but has pulled back slightly since the onset of 2010. Traders looking for optimal trading strategies are encouraged to check out our free KO trading report.
Another Dow component also reporting on Tuesday is Walt Disney (NYSE: DIS). Wall Street is expecting a slight downtick in fiscal Q1 earnings and flat sales for Disney in comparison to its year-ago quarter. In its fiscal Q4, Disney’s media networks segment continued to hold strong as ESPN and ABC Family continued to experience growth. Traders looking to take a long or short position on Disney prior to earnings should consult with our free DIS trading report prior to pulling the trigger.
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