4 Stocks to Watch This Week

Includes: ACN, DFS, HRB, ORCL
by: Stock Traders Daily

The coming days will give traders a slight variety of trading opportunities as corporate earnings trickle in. The second-half of the week especially will be carefully watched as some notable names step to the plate with quarterly results. Here are four names for traders to keep an eye on as the week unfolds.

Consulting Candor

On Thursday the global consulting firm Accenture (NYSE: ACN) is expected to announce its fiscal Q3 results after the market close. The consensus among analysts is that the company will check in with a 23.3% surge in EPS on a 15.3% pop in total revenue when compared with Accenture’s Q3 last year.

The company is coming off of a big Q2 in which it was able to up its full year forecast to reflect expected revenue growth to finish in a range of 11% to 14% above its prior year results. Accenture has benefitted from healthy year-over-year improvements by its communications and high tech and financial services groups. ACN shares have risen 11.3% so far this year.

Also reporting its quarterly results on Thursday is the tax preparation services company H&R Block (NYSE: HRB). Wall Street is calling for the company to come in with a 1.9% improvement in EPS despite a 0.9% downtick in total revenue. Shares of HRB have rallied 29.3% year-to-date.

Charting Paths Upward

The credit card issuer Discover Financial Services (NYSE: DFS) is slated to report its Q2 results before the opening bell on Thursday morning. Analysts are expecting the company to announce a 106.1% jump in EPS and a 2.2% increase in revenue on a year-over-year basis.

In March, Discover announced a record Q1 from a net income standpoint as its card sales volume rose by 7% from a year ago. Discover has also benefitted from a sequential improvement in its credit card net charge-off rate. Shares of DFS have followed an upward trajectory for the better part of this year. They are up 24.6% since the beginning of the year.

One other company that is reporting its earnings on Thursday that traders should maintain a watchful eye on is Oracle (Nasdaq: ORCL). Analysts are projecting that the company will announce an 18.3% pop in EPS on an 11.7% gain in total revenue when compared to the year-ago quarter. Shares of ORCL have stayed virtually flat so far in 2011.

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