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Investor confidence mixed for this weeks earnings; Nike, KB Homes, Adobe, General Mills, and Bed Bath & Beyond

|Includes: ADBE, BBBY, GIS, KBH, Nike Inc. (NKE)

Investor expectations influenced by post earnings price movement:

Nike (NYSE:NKE):
The whisper number is $1.02, a penny above the analysts estimates. NKE has exceeded the whisper number in 26 of the past 33 earnings reports, including the past eleven out of twelve quarters.  Although the company fell short of the whisper by a penny last quarter, investors remain confident in NKE as the stock price is up 31% since this time last year.  NKE reports earnings 9/23.

KB Homes (NYSE:KBH):
The whisper number is -$0.14, a penny below the analysts estimates. KBH has exceeded the whisper number in 19 of the 29 earnings reports we have data.  But the company has failed to gain investor attention in the past two out of four earnings reports.  Obviously the housing market has been in turmoil, but more important to investors is the fact that the stock price has dropped 34% in just the past six months.  KBH reports earnings 9/24.

The whisper number is $0.49, in-line with the analysts estimates. ADBE has exceeded the whisper number in 34 of the past 40 earnings reports, including all of the most recent nine quarters.  So why are investor expectations just in-line with the analysts estimates and not much more confident?  Perhaps memories still linger of this past quarter when the company topped the whisper number by a penny, but dropped close to 20% in just ten trading days.  The company has since recovered, but that type of hard and fast drop should still have investors spooked and for this quarter caution dictates.  ADBE reports earnings 9/21.

General Mills (NYSE:GIS):
The whisper number is $0.65, one cent above the analysts estimates. GIS has exceeded the whisper number in 19 of the past 30 earnings reports.  The stock price is up 22% from this time last year, and even though they fell short of the whisper number last quarter the price weakness was limited and the stock has since recovered.  GIS reports earnings 9/22.

Bed, Bath, & Beyond (NASDAQ:BBBY):
The whisper number is $0.62, one cent short of the analysts estimates. BBBY has exceeded the whisper number in 24 of the past 29 earnings reports, including all of the most recent thirteen quarters.  The stock price has (basically) been flat for the past year (seeing some strength between march and May, and then giving it all back between May and July).  Once again, post earnings price movement is the key for understanding the lack of confidence in the whisper number; the company has seen short term price weakness following three of the past four earnings reports.  BBBY reports earnings on 9/22.

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