Ahead of Earnings: Research In Motion, Adobe, GameStop, Best Buy

Includes: ADBE, BBRY, BBY, GME
by: Stock Traders Daily
On the corporate earnings front, several technology players will be garnering much of the headlines this week. We are still a few weeks away from the unofficial start to the Q1 earnings season, but there will be more than enough action for traders to take advantage of in the coming days. Here are four stocks to watch heading into their earnings releases this week.

Learning the PlayBook

Research in Motion (Nasdaq: RIMM) could launch its PlayBook tablet anytime during the next several weeks. In the meantime, traders will be eyeing the company’s fiscal Q4 results which will be reported after the market close on Thursday. Analysts are calling for the company to check in with a 37.8% year-over-year improvement in EPS on a 38.0% pop in total revenue.

In Q3, the company posted record shipments of Blackberry smartphones which were up 40% above the prior year quarter. Gross margins ticked up slightly in comparison to RIM’s Q3 in 2010. Shares of RIMM have risen 4.8% so far this year.

On Tuesday after the market close, Adobe Systems (Nasdaq: ADBE) will report its Q1 earnings. The consensus among analysts is that the company will announce a 42.5% surge in EPS on a 19.6% gain in sales when compared to the year-ago quarter. Adobe shares are up 3.9% year-to-date.

Game On

On Thursday morning, the video game retailer GameStop (NYSE: GME) will be releasing its fiscal Q4 results. Analysts are projecting the company to report a 20.9% increase in EPS and a 5.3% advance in total sales when compared to the prior year quarter. Shares of GME have declined 8.4% so far this year.

GameStop is coming off of a record Q3 that benefited from new title releases which pushed comparable store sales up slightly. These strong results enabled the company to revise its full year estimates upwards. The guidance would represent a 16% to 19% improvement in diluted EPS versus GameStop’s full year results in fiscal 2009.

One other stock for traders to keep an eye on this week is Best Buy (NYSE: BBY). The consumer electronics chain is set to release its fiscal Q4 results prior to the marker open on Thursday. Wall Street is expecting the company to report a 1.6% improvement in quarterly EPS despite a slight downtick in total revenue. BBY shares have dropped 8.1% since the beginning of the year.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.