Earnings Preview: Big Week Ahead For Economic DataZacks Investmentupdated May 25, 2012TweetAt GET.com we maintain complete editorial integrity on our content & provide transparent & unbiased information. Companies don't pay us to include their products although we receive a compensation when you successfully apply to products from our partners. See how we make money here.At GET.com we maintain complete editorial integrity.Earnings Preview – Week of May 29th The focus this holiday-shortened week will be on the labor market, with the May non-farm payroll report coming out on Friday. Many will be hoping that the jobs report will help wash away the disappointing readings from the last two months. Relative to where expectations stood ahead of the April and March reports, it may not be that difficult to meet or exceed expectations this time around. There are a number of other major economic reports on the docket as well, with Thursday and Friday particularly busy. The first quarter 2012 earnings season is effectively over, though we still have a handful of companies yet to report results. As of Friday (05/25), a total of 492 companies in the S&P 500 have already reported. We will get results from 55 companies this week, including 3 from the S&P 500. Total earnings increased a solid 7.8% in the first quarter, compared to the preceding quarter’s 6.4% growth pace. Approximately 67% of companies came ahead of expectations, with a median earnings surprise of a very good 3.2%. Most of the growth came from top-line gains, with total revenues increasing 5% from the year-earlier level. Relative to earnings beats, far fewer companies were able to beat revenue expectations, with only about 40% of the companies coming out with positive revenue surprises. Monday - 5/28Memorial Day holidayTuesday - 5/29Given the market’s well-justified European fixation, the Conference Board’s May Consumer Confidence report and the Case-Schiller’s April home price index may not get a lot of attention. But the expectation is for Consumer Confidence is to have modestly improved from April’s 69.2 level.Wednesday - 5/30The April Pending Home sales report from the National Association of Realtors is the only release today. Pending homes are those where the contract has been signed, but the sale hasn’t closed yet. Last week’s new and existing home sales numbers were broadly on the better-than-expected side, indicating the improved outlook for the sector.Thursday - 5/31A very busy morning for economic releases, starting with the May jobs report from Automatic Data Processing (ADP), the payroll processor. We will get the weekly Jobless Claims data, the second look at the first quarter GDP, and the Chicago PMI.The ADP report will give us a flavor of what to expect in the Friday’s government jobs report. Last month, the ADP report disappointed by coming up with a 119K jobs number, which was followed up by a disappointing government jobs report of 115K jobs.The GDP growth rate is expected to come down from the first round’s 2.2% to 1.9%, though the all-important personal consumers expenditures (or consumer spending) component will likely not see much revision.Friday - 6/01We have four major reports coming out today, though the focus will be on the May non-farm payroll report. Other major reports include the May manufacturing ISM survey, the April Construction Spending report, and the April Personal Income & Outlays report.Despite the crowded economic calendar, the Jobs report will be the key driver of the day’s trading action. It appears that the disappointing reports in April and March have helped temper expectations a bit, as hardly anyone is looking for number of above 200K. The expectation is for ‘headline’ gains of about 165K, compared to the 115K gained in April. The unemployment rate is expected to remain unchanged at 8.1%. The ISM report is expected to show a modest decline from April’s 54.8 level, while construction spending growth is expected to have increased in April from March’s growth pace. Earnings CalendarCompanyTicker1Q-12E1Q-11ALast EPS Surprise %Report DayTimeENERSYS INCENS0.950.7514.29TuesdayAMCSANDERSON FARMSSAFM0.86-0.56-427.27TuesdayBTOPERFECT WORLDPWRD0.730.7661.11TuesdayAMCSOC QUIMICA MINSQM0.520.421.69TuesdayAMCITERIS INCITI0.010.010TuesdayAMCCORVEL CORPCRVL0.70.69-37.33WednesdayBTOJOS A BANK CLTHJOSB0.620.64-0.63WednesdayBTORBC BEARINGSROLL0.620.478WednesdayBTODOLLAR GENERALDG0.590.483.66WednesdayBTOCOPART INCCPRT0.430.3522.41WednesdayAMCBOOZ ALLEN HMLTBAH0.410.3317.14WednesdayBTOFRESH MARKETTFM0.350.28-2.56WednesdayBTOITURAN LOCATIONITRN0.320.313.57WednesdayBTOLIONS GATE ETMTLGF0.190.26-111.11WednesdayAMCMIDSTATES PETROMPO0.18N/AN/AWednesdayAMCQAD INC-AQADA0.170.06N/AWednesdayAMCPACIFIC DRILLNGPACD0.15N/AN/AWednesdayAMCCOSAN LTD-ACZZ0.13N/AN/AWednesdayAMCQAD INCQADB0.110.0615.38WednesdayAMCTILLYS INCTLYS0.11N/AN/AWednesdayAMCTEAVANA HOLDINGTEA0.10.093.23WednesdayBTOMEDICAL ACTIONMDCI0.040.07175WednesdayBTOTAOMEE HOLDINGSTAOM0.040.21-20WednesdayAMCDAKTRONICS INCDAKT0.030.07-42.86WednesdayBTODRYSHIPS INCDRYS0.020.16-12.5WednesdayAMCNORTH AMER EGYNOA-0.120.29-127.78WednesdayAMCSYSWIN INC-ADSSYSW-0.120.1123.08WednesdayAMCTIVO INCTIVO-0.15-0.298.7WednesdayAMCYINGLI GREEN ENYGE-0.190.3679.45WednesdayBTOCOLDWATER CREEKCWTR-0.2-0.329.52WednesdayAMCNCI BLDG SYSTEMNCS-0.39-0.4853.62WednesdayAMCJOY GLOBAL INCJOY1.951.52-6.67ThursdayBTOCDN IMPL BKCM1.881.772.06ThursdayBTOESTERLINE TECHNESL1.31.4719.67ThursdayAMCPHILLIPS 66PSX0.9N/AN/AThursdayBTOJDA SOFTWARE GPJDAS0.480.328.93ThursdayAMCASCENA RETAILASNA0.360.3320.9ThursdayAMCSAIC INCSAI0.330.36-8.82ThursdayAMCISLE OF CAPRIISLE0.30.2270ThursdayBTOVERA BRADLEYVRA0.290.286.38ThursdayAMCMOVADO GRP INCMOV0.250.0251.16ThursdayBTOCHARMING SHOPPECHRS0.180.17-200ThursdayBTODESCARTES SYSDSGX0.130.07-15.38ThursdayBTOOMNIVISION TECHOVTI0.080.578ThursdayAMCAMER ORIENT BIOAOB0.030.0260ThursdayAMCSTAR BULK CARRSSBLK-0.050.0120ThursdayBTOSABA SOFTWARESABA-0.060.030ThursdayAMCSPLUNK INCSPLK-0.07N/AN/AThursdayAMCREALD INCRLD-0.080.08183.33ThursdayAMCCIENA CORPCIEN-0.14-0.33-52.94ThursdayBTOAMER SUPERCONAMSC-0.38-0.5817.02ThursdayBTOJINKOSOLAR HLDGJKS-1.062.1-366.07ThursdayBTOTHERMON GROUPTHR0.19-0.1221.05FridayBTOGRAHAM CORPGHM0.10.275FridayBTOAMER WOODMARKAMWD-0.07-0.1834.62FridayBTO AUTOMATIC DATA (ADP): Free Stock Analysis Report To read this article on Zacks.com click here.Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. 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