Wynn Resorts, Apple to beat earnings views-StarMine
NEW YORK, July 8
NEW YORK, July 8 (Reuters) - Wynn Resorts (WYNN.O) and Apple (AAPL.O) are among companies likely to beat earnings forecasts for the latest quarter, while Canadian Pacific Railways (CP.N) is likely to miss, Thomson Reuters StarMine forecasts show.
The forecast for Wynn Resorts' earnings by StarMine, which weights forecasts based on analyst accuracy and the most recent estimates, is 3.5 percent above the consensus estimate, or the average of analysts' forecasts compiled by Thomson Reuters.
Companies with a forecast of at least 2 percent above consensus means the company is likely to post results above consensus, according to StarMine.
Besides Wynn Resorts and Apple, StarMine has identified JetBlue Airways Corp (JBLU.O), Hospitality Properties Trust (HPT.N) and DirecTV (DTV.O) as also highly likely to surprise to the upside this earnings period.
Second-quarter earnings for Standard & Poor's 500 .SPX companies are expected to start next week, with results from Alcoa (AA.N) due on Monday.
Strong iPod and iPhone sales are expected to help boost Apple's results, along with good cost controls, according to StarMine, while Wynn Resorts could benefit from strong performance in Macau.
On the flip side, weather-related problems could hurt results from companies such as Canadian Pacific and Platinum Underwriters Holdings (PTP.N), causing them to miss the consensus estimate.
Other companies StarMine sees likely to miss: Shanda Interactive Entertainment SNDA.O, Agnico-Eagle Mines Ltd (AEM.N) and Cooper Tire & Rubber Company (CTB.N).
The picks are based on comments by analysts who StarMine says have a strong history of being correct with their forecasts. (Reporting by Caroline Valetkevitch; Editing by Jan Paschal)