Not too many notable earnings after the bell today, but of course there are a few high quality companies to highlight starting off with CB Richard Ellis Group(CBG) which is the highest ranking company to report after the bell today.  Continuing the streak of high ranking companies reporting outstanding results, CB Richard Ellis, the provider of commercial real estate services blew out earnings and beat estimates by .28/share and also raised guidance for the full year (no surprise there).  The stock is obviously responding positively after hours and is up nearly 7%.  This is a stock I bought for the SelfInvestors.com Model portfolio at the end of May and made the decision to sell (as I almost always do) before earnings.  Had I not been holding a 22% gain, I probably would have held this one through earnings considering it doesn’t exhibit the volatile swings around earnings time that a technology company might.  Another holding in the portfolio, St. Joe (JOE) was held through earnings because I had neither a large gain or sizable loss.  So it really does depend on a variety of factors.  However, more often than not I think selling before earnings is the best way to go in order to minimize risk and preserve capital.  I certainly don’t regret locking in a nice gain on this position ahead of earnings one bit, especially considering the bounce near support after the downgrade on valuation was rather weak.  I can always repurchase if the time is right and this is certainly one company to keep on the radar!

With a rank of 51 out of 60, General Cable (BGC) is another highly rated company reporting after the bell today.  Exluding one time costs as a result of the closing of manufacturing facilities, the company beat estimates by .02/share as earnings more than doubled from the year ago period.  They beat on revenues as well, but revenue growth continues to come in a bit on the light side with an increase of 9% from the year ago period.  The stock is well extended past a proper buy point.

HCC Insurance (HCC) is one of the highest ranked insurance companies in the database and they posted solid results after the bell and beat by .04/share.  They also upped guidance for ’05.  Technically, the stock bounced impressively off support of the 50 day moving average and remains too extended from a proper buy point.

Best ‘O The Rest..

• Technical Olympic USA (TOA): The Florida based homebuilder posted profit growth of 90% over the year ago period, smashing estimates by .19/share. They also raised guidance for the full year ’05.  Technically, the stock looks outstanding and cleared all time highs on July 13th with near record volume.  It’s been consolidating in a fairly tight range since, but may will probably bust out tomorrow. 
• Cal Dive International (CDIS): Another oil company beats estimates by a bundle.. enough said.  Cal Dive is one of the best in the business.
• Blackboard (BBBB): The developer of software for online education became profitable for the first time in ’03 and has grown fast and furious since, albeit a bit inconsistently from quarter to quarter.  The company beat by .03/share after the bell which is good for a 200% increase over the year ago period.  Revenues increased by 24% over the same period.  Institutions are showing a big appetite for the stock in the last few months as indicated by heavy volume buying.  The stock remains far extended from the first buy point at 19.35, but recent consolidation could be called a high handle, offering another buy point on a breakout.  I personally would prefer a drop to support of the 50 day moving average in this case as an opportunity to initiate a position.  The stock is up 4% in after hours trading.