Previewing This Week's Earnings

Brocade Communications: BRCD reports afterwards the bell on Monday, with analysts expecting non-GAAP revenues of 10 cents per share on $527.4 million. Investors may be re-assured by the company's decision not to pre-announce results for its fiscal fourth quarter; when Brocade announced disappointing preliminary results in August, the stock dropped 30 percent, hitting lows not seen since the depths of the 2009 bear market.

The meanwhile

In the meanwhile, at Friday's close of $4.64, the stock is trading at just over ten times trailing non-GAAP revenues of 45 cents, and just above book value. The move to "cloud computing" and the continually growing network needs worldwide would seem to bode so then for the company's long-term future. As soon as possible, the lack of a pre-announcement should lessen the opportunity of an revenues miss, and strength in the quarterly results should continue the stock's recent bull run. Long-term investors -- and traders -- could consider going long BRCD while Monday's trading, ahead of the company's release afterwards the market close.

Collective Brands: PSS reports afterwards the market closes on Monday; analysts are projecting adjusted revenues of 49 cents per share on earnings of $908 million. The owner of Payless Shoe Stores, and shoe brands Saucony, Sperry and Keds jumped near 19% afterwards second quarter revenues, as sales beat expectations and the company announced the closure of 475 stores and a "strategic review" of its assets.

Medtronic: The medical device maker reports Tuesday morning, with analysts expecting 82 cents per share on a little over $4 billion in revenue. The stock has been relatively flat since I covered the stock afterwards last quarter's revenues.

The company has guided for $4 billion in free cash flow and $3.43-$3.50 in revenues per share for fiscal year 2012, both strong figures given the company's market cap of $35.8 billion and Friday's closing share price of $33.94. On the whole, constraints on the American market and the company's low rate of revenue growth mean the stock doesn't seem to merit a much higher valuation. International growth -- 7% year-over-year last quarter -- and expense control would seem to be the company's most likely way to revenues expansion. Mishrak has promised to focus on both of those areas; on Tuesday, investors should get their first ideas of his plans, and their potential for success.

Both analyst opinion and the company's guidance show the dramatically reduced expectations for LTXC amid severe headwinds in the semiconductor sector. Fiscal fourth quarter earnings were $62.7 million, meaning sales are expected to fall some 40% sequentially. The company earned $1.19 per share for fiscal year 2011, even though FY2012 estimates are for just 8 cents per share, with several analysts predicting a full-year loss.