Good morning – I’m changing the format of the earnings posts for the morning due to time constraints.  Being on the West Coast doesn’t allow me much time to pour through a dozen earnings reports before the market opens, so I’m going to just post top companies that are moving on earnings in the morning.  I will continue to post more detailed reports on companies reporting after  the bell though.  Again, the fundamental rank will be displayed in brackets.

Cutera (CUTR) [25/30] up 20%
CB Richard Ellis [25/30] up 10% and breaking out
Hologic (HOLX) [24/30] up 7%
Blackboard (BBBB) [25/30] up 7%
Aspect Medical (ASPM) [24/30] up 7% and breaking out
HCC Insurance (HCC) [24/30] up 7%
Eagle Materials (EXP) [26/30] up 7%
Cal Dive (CDIS) [26/30] up 4%
EOG Resources [26/30] up 4%

Wanted to highlight a few top companies that delivered great results after the bell today.  The number you see in brackets is the Fundamental rank for the company, a proprietary indicator of SelfInvestors.com.

[26/30]

• Panera Bread (PNRA), the fast growing producer of all things bread posted another great quarter, but didn’t smash estimates after the bell.  Growth was in line with estimates but year over year EPS growth of 31% stops the streak of accelerating earnings growth at 4 consecutive quarters.  Revenue growth came in at 32%.  The stock is in the process of forming a handle and may break out tomorrow… but I have a feeling it won’t.

• Cal Dive Intl (CDIS) Blow Out Earnings!, another top tier oil company posted outstanding results.  No surprise here.  EPS growth from the year ago quarter came in at 78% which smashed estimates.  Revenue growth was equally impressive at 59%. The stock is currently carving out an ugly looking base and is up a bit a bit after hours.

• Eagle Materials (EXP), Blow Out Earnings!, the manufacturer of basic materials cement and gypsum wallboard smashed estimates after the bell by .18/share and increased from the year ago period by 49%.  Revenues increased 36% in the same period.  The company guided in line for next quarter and ’06.  The stock is currently carving out a new base after running up 50% from May ’05.

• ValueClick (VCLK), the provider of online advertising services reported a strong quarter and beat analyst estimates by a sizable margin, but 4^th quarter guidance didn’t impress.  The company posted EPS growth of 31% with revenue growth of 87%.  However, the company is forecasting EPS of just .12 for next quarter and analysts were expecting .14.  Either way, the company is expected to posted negative earnings growth next quarter.  Clearly, ValueClick is no Google.

[25/30]

• Cutera (CUTR) Blow Out Earnings!, the developer of light based products for aesthetic treatments blew away estimates and beat by .06/share, which was good for a quarter over quarter increase of 286%.  Revenue growth continues to accelerate and grew 49% over the year ago period.  Looking to next quarter the company sees EPS 61% higher than current analyst estimates and 38% higher for the full year ’05.  Shares are soaring after hours 20%.  The stock is well extended past a proper buy point.

• Blackboard Inc (BBBB), the provider of software applications for the education industry, posted strong results after the bell and beat EPS estimates by .03/share.  Earnings growth over the year ago quarter came in at 56%, while revenue increased 21%.  The company guided a bit above consensus for next quarter and full year ’05.  Shares are up 3% in after hours trading.  The stock looks outstanding technically, but is currently out of a buyable range.

Good morning! Notable earnings reports returns this morning .. just too much going on last week to to report here on all the earnings pouring in.  I want to highlight one outstanding company here this morning – Oshkosh Truck (OSK).

Oshkosh Truck [fundamental rank 26/30] is a designer and manufacturer of a broad range of specialty commercial, fire/emergency and military trucks.  It’s a company that grows earnings every year with consistency and has seen a big increase in growth since ’03.  Strong growth continued last quarter as the company beat earnings by a penny (growth of 42%) with revenue growth of 26%.  The company’s growth has been helped largely by the Pentagons’ need for replacement parts and servicing for heavy duty trucks.  Look for a potential breakout today from a long base.

Others that are moving up this morning on earnings:

GOL,CAS, RVSN, NNDS, VTAL

It was busy after the bell today with several high quality companies reporting.  As usual I’ll list the companies in order of their fundamental rank.

• Portfolio Recovery Associates (PRAA), the manager of portfolios of defaulted consumer receivables posted another very strong quarter after the bell today with earnings growing 32% and revenues growing 33% over the year ago quarter.  Both beat estimates.  Considering the outstanding results from this company for the last several years it’s surprising that the stock has remains stagnant.   It’s currently forming a long base on base pattern with resistance at 45.

• Corporate Executive Board (EXBD), the research and analysis company for corporations, is another company that continues to post solid results quarter after quarter, year after year of around 25 – 30%.  No exception in today’s report as the company beat analyst estimates by a penny and reported earnings growth of 24% with revenue growth of 29%..  Executive also raised Q4 and ’05 guidance.  The stock is currently basing with strong support at 75..

• Intuitive Surgical (ISRG) Blow Out Earnings!, the surgical robot manufacturer (da Vinci), blew away estimates again this quarter just as they did last quarter and beat estimates by .26/share!  Revenues came in more than 20% higher than estimates.  Shares are soaring after hours more than 25%.  The stock had been basing after the big gap up following the last earnings report and will break to all time highs on a big gap up once again tomorrow morning.

• Ultra Petroleum (UPL) Blow Out Earnings!, continues the streak of oil companies posting tremendous profit and revenue growth.  Seems like earnings growth of 100% is routine for the top oil companies these days.  Ultra smashed estimates of .32/share by posting .38/share, good for a 118% increase over the year ago quarter.  After running up 100% in just a couple months, the stock has been consolidating and is currently bouncing off the 50 day moving average.  It has held up remarkably well considering the big selling in oil recently.

• NutriSystem (NTRI) Blow Out Earnings!, the manufacturer of weight loss products and services, is the fastest growing company in the SelfInvestors.com database. The company retains that label after posting another huge quarter after the bell today which beat estimates by .03/share.  NutriSystem swung to a big profit in the latest quarter after posting a small loss one year ago.  Revenues soared 743%.   The stock is down more than 5% after hours, but I would expect the stock to swing to a gain before the trading day ends tomorrow.  Just some knee jerk profit taking.

• Akamai (AKAM), a provider of content delivery and application performance for ebusinesses, posted another outstanding quarter which matched estimates.  Earnings increased from the year ago period by 56% and revenues increased by 42% in the same time frame.  Akamai became profitable for the first time in ’04 and is emerging as a leading technology company.  It increased the number of customers with long term contracts by 45% from a year ago.. this from the CEO:  "Strong growth in our customer base reflects increasing trust in Akamai to accelerate the on-line delivery of mission critical content and Web-based applications by businesses and government agencies," Sagan said.   The stock is in the process of carving out a long 2 year base with overhead resistance just above 18.

• HealthExtras (HLEX), a provider of pharmacy benefits management services, posted results after the bell which matched earnings estimates of .15/share.  That’s a rise of 46% over the year ago quarter.  However, revenue growth was a bit disappointing at 16%.. it’s the first time the company has posted growth of less than 20% in a couple years.  Looking to 2006, the company is raising guidance and expect revenues to exceed 1 billion.  The stock broke out of a flat base on Oct. 14^th, but has been unable to hold those gains.  The stock bounced off the 50 day moving average today and remains in a buyable range.

OK, time to roll up the sleeves.. earnings are pouring in today.  This morning I just have time to highlight the 3 highest rated companies reporting, but will try and post an update later this morning and list stocks that are moving as a result of their earnings report.

[27/30]

Coach (COH), the high end retailer, posted a very strong quarter again this morning and beat estimates by a penny. Earnings growth improved 53% over the year ago quarter as margins continue to rise, while revenues increased 30% for the same period.  In addition the company has raised guidance for next quarter and the full year.  The stock is currently holding steady above support of the 200 day moving average and in process of carving out a base.  Today’s earnings report should spark the stock into a significant move up the right side of a base,  The stock is up nearly 5% in premarket trading.

Chicago Mercantile (CME), the derivative market operator for futures and options, beat by a penny as earnings grew 29% per share with revenue growth 22%.  That’s a strong quarter for any company, but when your stock has risen more than 100% in a year and eight fold since its IPO in 2002, anything less than a blow out quarter can lead to some profit taking.  The stock is down just a bit after hours.  It should be noted that the stock has a history of selling off after earnings, but bounces back quickly. 

Chicago

turned it around in 2001, but really ramped up its growth in 2004.  However the company is showing some signs of slowing down.  The stock broke out from a base back in the middle of December and is currently marching higher after testing the 50 day moving average. What stock will hit 400 first?  Google or Chicago?

LCA Vision (LCAV) Blow Out Earnings!, the leader in laser eye surgery centers, posted earnings of .37/share which smashed estimates of .30/share.  That’s quarter over quarter growth of 118% as revenue grew 51%.  Margins increased in the period and the company raised ’05 guidance significantly.  After an amazing run in which the stock price nearly quadrupled in a year, the stock has been carving out a base since July and is currently breaking out of the downtrend to form the right side of a base.  That breakout will continue with force today – the stock is up 15% in premarket trading.

The big report after the bell today came from Google (GOOG) (fundamental rank 29/30) and they smashed estimates, with no evidence of any summer slowdown.  I can’t imagine what they will report after this quarter which is typically the busiest time for internet times.  Just incredible numbers.  Excluding one time charges, the company posted earnings of 1.36 share on revenue (after traffic acquisition costs) of 1.05 billion, good for an increase of 116% and 110% respectively.  It will be interesting to see how Google’s numbers hold up as MSN, Yahoo (soon to release PPC system for small publishers called YPN) and many Google wannabe’s launch similar products.  Google will have to continue to improve the Adsense and Adwords program and keep it innovative in order to defend its turf in this area and maintain this kind of growth.  Especially considering it’s more than 90% of the company’s revenue.  It will be very interesting to see how this industry unfolds in the coming years.  No surprise that Google soared after the close and will break out to all time highs tomorrow.

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One of the highest ranked oil and natural gas companies in the database reported after the bell today. XTO Energy (XTO) [27/30], beat both wall st. estimates as well as the whisper number by reporting earnings growth of 95% on revenue of growth of 90%.  The company has posted accelerating growth in the last 3 quarters.  As is the case with just about every oil company, the stock is having trouble staying above the 50 day moving average, but should get a boost tomorrow.  The stock is up just .25/share in after hours trading though.

The online image business appears to remain very strong as Getty Images (GYI) [rank 26/30] posted a 46% increase in earnings from the year ago period citing higher prices and volume.  That beat analyst estimates by .03/share.  Revenue was also strong in the quarter at 20% growth and topped analyst estimates by 1.4 million.  The company continues to grow profit margins and has done so for the past 3 years.  The stock is a bit after hours and is currently carving out a base on base pattern, but remains below support of the 50 day moving average.

Lots of earning to run through tonight.. i’ll be fairly brief.  Lots of research to do and new features to implement over at the member site.  Once again I start with companies with the best fundamental score and will then highlight the best of the rest (Note: these scores don’t include the latest results)

Companies with Fundamental score of [26/30]

Satyam Computer (SAY), the Indian outsourcer reported earnings and revenues that beat analyst estimates handily with revenue and net profit increasing 34% from the year ago period.  Satyam looks very good technically and may bounce nicely off the 50 day moving average tomorrow.  However this is a group that is very week.  Its competitors (INFY, WIT, CTSH) all look more and more like short opportunities every day.

Amgen (AMGN) is getting hit in after hours trading after posting revenue growth below estimates.  Excluding one time charges the company posted earnings of .85/share which beat analyst estimates of .83/share as well as the whisper number of .84/share.  That’s a 33% increase over the year ago period.  The problem is in the revenue, which just missed analyst estimates by 40 million and rose by just 16% from the year ago period.  It marks the first time in several years that the company posted quarter over quarter revenue growth below 20%.

Navteq Corp (NVT), a GPS maps/navigation company, beat revenue estimates, but missed on earnings by a penny when excluding a one time tax benefit.  The stock had been strong technically, but looks like it may knife through the 50 day moving average tomorrow, at least at the open.

Best of the Rest

LifeLine Systems (LIFE) [25/30] a leader provider of personal response services, grew earnings 24% and revenue 17% from the year ago period which beat analyst estimates.  This is an incredibly consistent company and this kind of result has been automatic for the last several years.  The stock is currently forming a good looking long shallow base.

Labor Ready (LRW) [24/30] beat both revenue and earnings estimates with growth in earnings and revenue of 40% and 22% respectively.  The stock is soaring over 25% after hours.  The didn’t blow out estimates, so not sure why the steep rise, but gross margins continued to improve in the quarter and also raised guidance.

Harman Intl (HAR) [24/30] blew out estimates and beat by .12/share, but revenue growth continues to come in on the light side with quarter over quarter growth of just 9%.  Revenue was shy of estimates.  But appears Wall St. likes the earnings as well as in the increased guidance for ’06.  The stock is up over $4 and may break out of consolidation tomorrow.

Covance (CVD) [24/30], a contract pharma testing company, posted earnings growth of 24% (in line) on revenue growth of 15%.  Margins increased and the company raised guidance for ’05.  Results this quarter were solid, but it marked the end of 5 straight quarters of accelerating earnings and revenue growth.  The stock is currently carving out the right side of a base on base pattern and looks strong technically.

Some big names reported after the bell today, namely Intel, Yahoo and Motorola, but these earnings posts will focus on some of the more obscure fast growing companies that don’t get the coverage. Again, SelfInvestors.com fundamental rank in brackets.

Gilead Sciences (GILD) [28/30]

The highest rated company reporting after the bell today with a SelfInvestors.com fundamental rank of 28/30 is Gilead Sciences (GILD).  This is a company that just consistently keeps posting solid growth every quarter.  This time around the company reported earnings of .38/share on revenue of growth of 493.5 million, good for growth of 52% and 51% respectively over the year ago quarter, which beat analyst expectations of .36/share and the "whisper number" of .37/share.

Highlights:

• Sales of its new HIV drug Truvada grew 32%
• Sales of its Hepititus B drug Hepsera grew 58%
• Royalties earned on its antiviral drug Tamiflu, which countries have been stockpiling due to the potential of an avian bird flu outbreak soared to 12.1 mill, from 1.7mill in the year ago period (note: Gilead said Roche had breached the companies’ Tamiflu marketing agreement. The companies were unable to resolve the dispute and are currently in arbitration)
• Company raised its outlook for 2005 sales of its HIV drugs

The stock is down a bit after hours.  Technically, it continues to look very strong despite a tough market.  It broke out of a base on 9/30 and remains in a buyable range.

USANA Health Sciences (USNA) [27/30]

USANA posted another good quarter but it wasn’t exceptional by any means.  The company beat analyst estimates with earnings growth of 31% on revenue growth of 20%, but that marks the 7th straight quarter of declining year over year revenue growth.  It appears the high growth days are over.  The company said 2006 revenue growth would be in the range of 15 – 20%.  A breakout of the stock failed at the end of September and has slipped back into a base, but above the 200 day moving average.  It’s trading down a bit after hours.

Today really marks the kick off of the avalanche of earnings, so i’ll be increasing the frequency of earnings posts in the next couple weeks.  This morning a few earnings reports that interest me come from Peabody Energy (BTU), Genzyme (GENZ) and Freeport-McMoRan Copper & Gold (FCX).  In the last round of earnings reports posts I noted the overall SelfInvestors.com score which included the technical rank of the stock’s base.  This time around I’m only going to include the fundamental rank, since the stock may or may not be in the process of basing or just recently breaking out from the base.  Fundamental rank will appear in brackets (generally any score of 25 or above is very good).

Starting off with Genzyme (GENZ) [25/50], the company is reporting revenues that are up 24% over the year ago quarter driven by increases in all product areas.  The company matched the whisper number and beat estimates by posting earnings of .61/share, good  for a 38% increase over the year ago period.  Gross margins increases and the company is continuing to expand its manufacturing capacity internationally.  The stock is currently in the process of carving out a base.

Peabody Energy (BTU) [24/28], matched analyst estimates of .84/share which amounts to a whopping 161% increase over the year ago quarter on revenue growth of 33%.  The company raised guidance for ’05 but said the numbers would be sensitive to transportation issues which have plagued the coal industry this year.  The stock is down just a bit this morning but remains technically very strong and bounced off the 50 day moving average with good volume on Friday.

Freeport Copper & Gold (FCX) [24/28] Blow Out Earnings!, reported a very strong quarter riding the wave of higher gold and copper prices.  Excluding non recurring costs, the company reported earnings that beat estimates by .16 share.  Growth surged 760% over the year ago on revenue growth of 64%.  The stock is currently up about 1% and continues its bounce from the 50 day moving average a few days ago.