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Was the optimism observed in last week's preview post rewarded? Well, as it turned out there were few negative surprises from the companies listed there, really just Advanced Micro Devices Inc. (NYSE: AMD) and narrow misses from Google Inc. (NASDAQ: GOOG) and Microsoft Corp. (NASDAQ: MSFT).

Again this week, in a list of earnings expectations for some prominent companies in a variety of sectors, we see an apparent optimism. That is, analysts are anticipating more earnings growth than earnings declines.

Analysts surveyed by Thomson Financial expect the following companies to report a rise in earnings when compared to the same period of the previous year.

• Newmont Mining Corp. (NYSE: NEM): $0.48 EPS (50.0%) on sales of $1.5 billion (+15.7%)
• Amazon.com Inc. (NASDAQ: AMZN): $0.26 EPS (26.9%) on sales of $4.0 billion (+37.1%)
• Caterpillar Inc. (NYSE: CAT): $1.54 EPS (19.5%) on sales of $12.7 billion (+11.7%)
• McDonald's Corp. (NYSE: MCD): $0.86 EPS (17.4%) on sales of $5.9 billion (-1.5%)
• ConocoPhillips (NYSE: COP): $3.41 EPS (15.0%) on sales of $198.6 billion (+319.3%)
• Apple Inc. (NASDAQ: AAPL): $1.08 EPS (14.8%) on sales of $7.4 billion (+36.0%)
• Halliburton Co. (NYSE: HAL): $0.68 EPS (11.8%) on sales of $4.3 billion (+13.7%)
• Texas Instruments Inc. (NYSE: TXN): $0.46 EPS (8.7%) on sales of $3.4 billion (-1.1%)
• Yahoo Inc. (NASDAQ: YHOO): $0.12 EPS (8.3%) on sales of $1.4 billion (+10.5%)
• AT&T Inc. (NYSE: T): $0.76 EPS (7.9%) on sales of $31.2 billion (+5.7%)
• PepsiCo Inc. (NYSE: PEP): $1.02 EPS (7.8%) on sales of $10.5 billion (+9.4%)
• Anheuser-Busch Companies Inc. (NYSE: BUD): $0.93 EPS (6.5%) on sales of $4.7 billion (+4.2%)
• Pfizer Inc. (NYSE: PFE): $0.54 EPS (22.2%) on sales of $11.5 billion (+3.5%)
• 3M Co. (NYSE: MMM): $1.35 EPS (8.9%) on sales of $6.7 billion (+9.0%)
• Merck & Co. (NYSE: MRK): $0.83 EPS (1.2%) on sales of $6.0 billion (-1.2%)

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Altera Corp. (NASDAQ: ALTR) beat Q2 estimates, offered guidance, and announced a quarterly dividend.
• Capital One Financial Corp. (NYSE: COF) profit tumbled as consumers stopped paying off credit cards.
• Coca-Cola Co. (NYSE: KO) mixed Q2 results were boosted by international operations.
• Eaton Corp. (NYSE: ETN) reported strong Q2 numbers but shares still fell afterward.
• Genentech Inc. (NYSE: DNA) did not meet analysts' estimates but lifted its full-year outlook (see transcript).
• Google Inc. (NASDAQ: GOOG) posted strong results that fell short of Wall Street expectations.
• Intel Corp. (NASDAQ: INTC) better-than-expected Q2 results lifted other tech stocks as well (see transcript).
• JPMorgan Chase & Co. (NYSE: JPM) posted better-than-expected Q2 results (see transcript).
• Lawson Software Inc. (NASDAQ: LWSN) net income fell due to an auction-rate securities related charge.
• Mattel Inc. (NYSE: MAT) Q2 results topped expectations despite lower profits on weak demand for Barbie.
• Nokia Corp. (NYSE: NOK) posted better-than-estimated Q2 earnings on strong sales growth.
• Overstock.com Inc. (NASDAQ: OSTK) fell nearly 30% after reporting earnings for the second quarter.
• Rockwell Collins Inc. (NYSE: COL) posted strong Q3 results due to long-term government contracts.
• Sun Microsystems Inc. (NASDAQ: JAVA) preliminary Q1 results sparked an after-market rally.
• Wells Fargo & Co. (NYSE: WFC) beat low earnings expectations and also raised its quarterly dividend.
• Yum! Brands Inc. (NYSE: YUM) beat Q2 expectations due in part to strength overseas, but shares fell.

For more highlights from this week, see: Citigroup, eBay, IBM, Merrill Lynch, Microsoft and others

The earnings crunch continues next week. Among companies scheduled to report are Apple (NASDAQ: AAPL), Bank of America (NYSE: BAC), Merck (NYSE: MRK), Texas Intruments (NYSE: TXN), Caterpillar (NYSE: CAT), Halliburton (NYSE: HAL), United Parcel Service (NYSE: UPS), Wachovia (NYSE: WB), Yahoo! (NASDAQ: YHOO), Amazon (NASDAQ: AMZN), Anheuser-Busch (NYSE: BUD), AT&T Inc. (NYSE: T), McDonald's (NYSE: MCD), PepsiCo (NYSE: PEP), Pfizer (NYSE: PFE), Boeing (NYSE: BA), Hershey (NYSE: HSY), and Southwest Airlines (NYSE: LUV).

Visit AOL Money & Finance for more earnings coverage.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Activision Blizzard Inc. (NASDAQ: ATVID) sees strong Q1 results driven by Guitar Hero.
• Allegheny Technologies Inc. (NYSE: ATI) raised its Q2 earnings guidance ahead of its report.
• Cintas Corp. (NASDAQ: CTAS) strong Q4 and full-year results included a record quarterly revenue.
• Citigroup (NYSE: C) posted better-than-expected results despite a big loss on further write-downs.
• eBay Inc. (NASDAQ: EBAY) reported better-than-expected results and offered a soft outlook (see transcript).
• Fastenal Co. (NASDAQ: FAST) posted strong Q2 earnings despite the housing slump but lower revenues.
• Grainger Inc. (NYSE: GWW) posted strong Q2 results on expansion in Mexico and China.
• Harley-Davidson Inc. (NYSE: HOG) beat Q2 expectations despite profit and revenue declines.
• International Business Machines Corp. (NYSE: IBM) easily topped Wall Street earnings expectations.
• Johnson & Johnson (NYSE: JNJ) beat Q2 estimates and raised its full-year forecast (see transcript).
• Kimberly-Clark Corp. (NYSE: KMB) warned of lower Q2 earnings due to energy and distribution costs.
• Merrill Lynch & Co. (NYSE: MER) reported worse-than-expected Q2 results on further write downs.
• Microsoft Corp. (NASDAQ: MSFT) earnings surged but investors were put off by its full-year guidance.
• Procter & Gamble Co. (NYSE: PG) reaffirmed its guidance following the Kimberly-Clark warnings.
• United Technologies Corp. (NYSE: UTX) beat Q2 estimates, lifting shares from a recent 52-week low.
• ValueClick Inc. (NASDAQ: VCLK) posted weak results and warned about the second half of the year.

For more highlights from this week, see: Google, Intel, JPMorgan, Coca-Cola, Nokia and others

The earnings crunch continues next week. Among companies scheduled to report are Apple (NASDAQ: AAPL), Bank of America (NYSE: BAC), Merck (NYSE: MRK), Texas Intruments (NYSE: TXN), Caterpillar (NYSE: CAT), Halliburton (NYSE: HAL), United Parcel Service (NYSE: UPS), Wachovia (NYSE: WB), Yahoo! (NASDAQ: YHOO), Amazon (NASDAQ: AMZN), Anheuser-Busch (NYSE: BUD), AT&T Inc. (NYSE: T), McDonald's (NYSE: MCD), PepsiCo (NYSE: PEP), Pfizer (NYSE: PFE), Boeing (NYSE: BA), Hershey (NYSE: HSY), and Southwest Airlines (NYSE: LUV).

Visit AOL Money & Finance for more earnings coverage.

After the implosion of IndyMac Bancorp (NYSE: IMB) and news of the deterioration of Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) last week, there's bound to be a certain level of trepidation as the earnings crunch begins this coming week and many big financial companies report. Here's a look at what Wall Street was expecting (see The week in preview: Expectations as the earnings crunch begins for expectations of other reporting companies.)

Analysts surveyed by Thomson Financial are expecting the following of companies to report lower earnings when compared to the same period of the previous year.

• JPMorgan Chase & Co. (NYSE: JPM): 44 cents EPS (-63.3%) on sales of $16.4 billion (-13.2%)
• Comerica Inc. (NYSE: CMA): 51 cents EPS (-59.2%) on sales of $680.2 million (-7.3%)
• Zions Bancorp. (NYSE: ZION): 75 cents EPS (-47.6%) on sales of $627.3. million (+2.7%)
• Huntington Bancshares Inc. (NYSE: HBAN): 23 cents EPS (-32.4%) on sales of $617.1 million (+50.7%)
• Capital One Financial Corp. (NYSE: COF): $1.31 EPS (-30.7%) on sales of $4.4 billion (+7.8%)
• Wells Fargo & Co. (NYSE: WFC): 50 cents EPS (-25.4%) on sales of $10.7 billion (+7.7%)
• M&T Bank Corp. (NYSE: MTB): $1.50 EPS (-23.1%) on sales of $756.6 million (+1.6%)
• BB&T Corp. (NYSE: BBT): 69 cents EPS (-16.9%) on sales of $1.8 billion (+5.9%)
• U.S. Bancorp (NYSE: USB): 60 cents EPS (-7.7%) on sales of $3.8 billion (+8.3%)
• PNC Financial Services Group Inc. (NYSE: PNC): $1.16 EPS (-7.2%) on sales of $1.9 billion (+8.5%)

As the second quarter earnings crunch begins in earnest this week, the bear market has investors jittery and prognosticators spinning out dire warnings. In the wake of mixed results from Alcoa (NYSE: AA) and General Electric (NYSE: GE) kicking things off last week, here's a look at what Wall Street is expecting from many of the companies scheduled to report this coming week.

Analysts surveyed by Thomson Financial are expecting the following companies to report a rise in earnings when compared to the same period of the previous year.

• Nucor Corp. (NYSE: NUE): $1.80 EPS (36.6%) on sales of $6.4 billion (+53.0%)
• Google Inc. (NASDAQ: GOOG): $4.74 EPS (24.9%) on sales of $3.9 billion (+41.6%)
• Nokia Corp. (NYSE: NOK): 56 cents EPS (23.2%) on sales of $19.9 billion (+17.8%)
• CSX Corp. (NYSE: CSX): 90 cents EPS (21.1%) on sales of $2.9 billion (+12.8%)
• Altera Corp. (NASDAQ: ALTR): 27 cents EPS (18.5%) on sales of $346.7 million (+8.4%)
• IBM (NYSE: IBM): $1.82 EPS (+17.6%) on sales of $25.9 billion (+9.0%)
• eBay Inc. (NASDAQ: EBAY): 41 cents EPS (17.1%) on sales of $2.2 billion (+18.0%)
• W.W. Grainger Inc. (NYSE: GWW): $1.46 EPS (17.1%) on sales of $1.7 billion (+8.0%)
• Microsoft Corp. (NASDAQ: MSFT): 47 cents EPS (17.0%) on sales of $15.7 billion (+17.0%)
• Honeywell International Inc. (NYSE: HON): 94 cents EPS (17.0%) on sales of $9.2 billion (+7.9%)

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Alcoa Inc. (NYSE: AA) Q2 earnings decline on materials costs but beat analysts estimates (see transcript).
• Apollo Group Inc. (NASDAQ: APOL) solid Q3 results were accompanied by a share buyback program.
• Boeing Co. (NYSE: BA) warned that Q2 results will include a delay-related charge of 22 cents per share.
• Cash America International Inc. (NYSE: CSH) predicted Q2 earnings above previous guidance.
• EZcorp Inc. (NASDAQ: EZPW) predicted better-than-expected Q3 results due to strong sales.
• Family Dollar Stores Inc. (NYSE: FDO) beat Q3 expectations and raised its Q4 guidance.
• Flow International Corp. (NASDAQ: FLOW) swung to a better-than-expected Q4 profit on strong demand.
• General Electric Co. (NYSE: GE) reported mixed Q2 results and offered an uninspiring Q3 outlook (transcript).
• Helen of Troy Ltd. (NASDAQ: HELE) Q1 results were colored by write-downs and other charges.
• International Speedway Corp. (NASDAQ: ISCA) Q2 earnings soared while revenue slipped.
• Levis Strauss Q2 profitability plunged due to declining sales and higher administrative costs.
• Marriott International Inc. (NYSE: MAR) topped Q2 estimates but lowered its guidance (see transcript).

As the new earnings season kicked off, Alcoa Inc. (NYSE: AA) posted better-than expected results, despite a decline in earnings, and Pepsi Bottling Group (NYSE: PBG) topped Wall Street expectations as well. This just goes to show that there is some good news in earnings if you know where to look. Here are a few recent, less-prominent examples.

Flow International Corp. (NASDAQ: FLOW), which makes industrial waterjet equipment, swung to a better-than-expected fiscal fourth-quarter profit of $13.3 million, or 35 cents per share, helped by a boost in sales due to strong demand and an income tax benefit. Revenue rose 21% to $63.3 million. Shares are creeping up from a 52-week low of $6.81 a week ago.

Motor sports company International Speedway Corp.'s (NASDAQ: ISCA) second-quarter profit rose 41% to $26 million, or 52 cents per share. However, revenue slipped 3% to $174.9 million as admission and food and merchandise sales declined. Results fell short of Wall Street expectations, and shares fell to a 52-week low of $36.36.

Apparel and footwear company Wolverine World Wide Inc. (NYSE: WWW), second-quarter profit of $16.8 million, or 33 cents per share, topped Wall Street expectations, as strong international results linked to the weaker dollar largely offset increased product and freight costs. Revenue climbed 7% to $267.4 million. But shares fell $3.11 to $23.46 in morning trading.

As the second half of the year begins, the bear market has nervous investors looking for any sign of a shift in the direction of the market. When the new earnings seasons kicks off Tuesday, Alcoa Inc.'s (NYSE: AA) second-quarter results may offer the first glimpse of what to expect going forward.

Pittsburgh-based Alcoa has missed earnings estimates in just two out of the past five quarters. When the leading aluminum producer reported first-quarter results back in March, its net income of 44 cents per share fell short of the consensus of analysts surveyed by Thomson Financial by four cents, and were down from 79 cents per share in the same quarter of 2007. For this current quarter, analysts expect earnings of 68 cents per share on $7.4 billion in revenue.

In recent news, power supply issues led Alcoa to idle its Rockdale, Tex., facility. The company announced a deal for bauxite mining and alumina processing in Vietnam. Alcoa was named one of the world's most ethical companies and recognized for the best safety performance in its industry. And back in early May, Klaus Kleinfield became Alcoa's president and CEO. For analyst upgrades and downgrades, as well as other news that could influence Alcoa's results, see BloggingStocks' Alcoa coverage.

Alcoa's long-term earnings per share growth forecast is 21.6%, which is less than the metals and mining industry average but better than the S&P 500. The consensus recommendation from analysts is to buy Alcoa, and has been for more than 90 days. The share price has been falling from a recent high of $44. 77 in mid May, and closed at $32.78 on Friday. Shares are down 10.3% year to date.

Bellwether General Electric (NYSE: GE) also reports later in the week, and may also help set the tone for the quarter and the rest of the year.

Visit AOL Money & Finance for more earnings coverage.

The new quarter brings with it a new earnings season. While the earnings crunch doesn't begin in earnest until the following week, Alcoa as usual helps kick things off this coming week.

One of the world's leading producers of aluminum, Pittsburgh-based Alcoa Inc. (NYSE: AA) is scheduled to report second-quarter results Tuesday after market close. Analysts surveyed by Thomson Financial on average expect the company to report net income of 68 cents per share on revenue of $7.4 billion. That's down 16% from EPS a year ago. Alcoa has missed estimates in two of the past five quarters -- by four cents in the previous quarter. Analysts have recommend buying AA for more than 90 days. Shares have fallen 10.3% year to date, but the long-term EPS growth forecast is 21.6%.

Beverage distributor Pepsi Bottling Group Inc. (NYSE: PBG) is scheduled to report its second-quarter results Tuesday morning. Analysts are looking for earnings of 75 cents per share, up 6.6% from the same period of the previous year, on revenue of $3.6 billion. PBG has offered up positive surprises recently, by a penny in the previous quarter. However, analysts recommend holding PBG, and have for more than 90 days. The long-term EPS growth forecast is 9.1%, which is better than the industry average. Shares have fallen 27.6% year to date.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• AeroVironment Inc. (NASDAQ: AVAV) beat Q4 estimates on demand for unmanned aircraft.
• Apollo Group Inc. (NASDAQ: APOL) beat Q3 expectations on increased enrollment and tuition collection.
• Campbell Soup Co. (NYSE: CPB) predicted earnings at the high end of the previously announced range.
• Constellation Brands Inc. (NYSE: STZ) posted better-than-expected Q1 earnings, sending shares up.
• Deutsche Bank (NYSE: DB), in an effort to calm investors, said that it expects a Q2 profit.
• Family Dollar Stores Inc. (NYSE: FDO) beat Q3 expectations and raised its Q4 guidance.
• H&R Block Inc. (NYSE: HRB) posted solid Q4 and full-year results and boosted its dividend.
• Kroger Co. (NYSE: KR) posted record Q1 EPS and in-line guidance, and its share buybacks continue.
• Nvidia Corp. (NASDAQ: NVDA) warned of lower Q2 earnings due to slowing demand and lower prices.
• Robbins & Myers Inc. (NYSE: RBN) beat Q3 expectations and raised its Q4 and full-year outlook.
• Thornburg Mortgage Inc. (NYSE: TMA) 2007 results are being investigated by the SEC.
• UnitedHealth Group (NYSE: UNH) cut its full-year outlook due to changing business trends.

More highlights from this past week: BP, Discover, Corel, Citigroup, WD-40, MSCI and others

Also, Peter Cohan points out that a bear market means low earnings expectations, and also that negative surprises are likely to outweigh positive ones in the second half of the year. Aaron Katsman, on the other hand, predicts a rebound for earnings in the second half. And BusinessWeek reminds us that cheap stocks -- even with big names such as Ford Motor Co. (NYSE: F), Sprint Nextel Corp. (NYSE: S), and Northwest Airlines (NYSE: NWA) -- are no bargain if they have no earnings.

Upcoming results to watch for include Alcoa (NYSE: AA), Pepsi Bottling Group (NYSE: PBG), Marriott International (NYSE: MAR), and General Electric (NYSE: GE).

Visit AOL Money & Finance for more earnings coverage.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Andersons Inc. (NASDAQ: ANDE) lifted its outlook on improved performance of its Plant Nutrient Group.
• BP Plc (NYSE: BP) was upgraded by Societe Generale due in part to its earnings prospects.
• Citigroup Inc. (NYSE: C) has developed an earnings improvement plan based on collective bonuses.
• Corel Corp. (NASDAQ: CREL) solid Q2 results did not address a buyout offer from Vector Capital.
• Discover Financial Services (NYSE: DFS) Q2 earnings were boosted by dumping its Goldfish card division.
• Fortune Brands Inc. (NYSE: FO) lowered its earnings outlook on challenging consumer environment.
• Isle of Capri Casinos Inc. (NASDAQ: ISLE) blamed dismal results on floods and smoking bans.
• MSCI Inc. (NYSE: MXB) strong Q2 results didn't save it from being dumped by Morgan Stanley (NYSE: MS).
• PAREXEL International Corp. (NASDAQ: PRXL) lifted its Q4 and full-year guidance, leading to an upgrade.
• Texas Industries Inc. (NYSE: TXI) was downgraded due to fears about its earnings prospects.
• Taleo Corp. (NASDAQ: TLEO) reaffirmed its outlook as an acquisition would boost results.
• WD-40 Co. (NASDAQ: WDFC) posted solid Q3 results and offered conservative guidance.

More highlights from this past week: Apollo Group, Family Dollar, Kroger, Deutsche Bank and others

Also, while Jim Cramer ponders what will signal the bottom, many investors will be looking at next week's earnings results for General Electric (NYSE: GE), the world's largest conglomerate, as a sign of the direction of the global market. And BusinessWeek reminds us that cheap stocks -- even with big names such as Ford Motor Co. (NYSE: F), Sprint Nextel Corp. (NYSE: S), and Northwest Airlines (NYSE: NWA) -- are no bargain if they have no earnings.

Upcoming results to watch for include Alcoa (NYSE: AA), Pepsi Bottling Group (NYSE: PBG), Marriott International (NYSE: MAR), and General Electric (NYSE: GE).

Visit AOL Money & Finance for more earnings coverage.

Discount-store operator Family Dollar Stores Inc. (NYSE: FDO) reported that its fiscal third-quarter profit rose as more consumers sought bargains on food and other items. And Apollo Group Inc. (NASDAQ: APOL) said Tuesday its fiscal third-quarter profit rose as increased advertising of its educational programs attracted new students.

Family Dollar earnings for the quarter ended May 31 rose 7% from the year-ago period to $64.7 million, or 46 cents per share. Total revenue rose 2.9% to $1.7 billion, with same-store sales rising only 0.1%.

Analysts polled by Thomson Financial had expected a profit of 40 cents per share on revenue of $1.7 billion.

The company said a rise in the average amount customers spent per transaction helped offset lower store traffic, and that cost and inventory controls also benefited results.

Family Dollar raised its fiscal fourth-quarter guidance by a penny.

Shares rose $2.81 to $23.10 in morning trading. The share price is up 16.9% year to date.

Given that it's the end of the quarter, as well as the U.S. Independence Day holiday on Friday, next week looks to be pretty quiet as far as earnings go. But there are a few things of note.

Tax preparation company H&R Block (NYSE: HRB) is scheduled to report its fiscal fourth-quarter results Monday after market close. Analysts surveyed by Thomson Financial on average expect the company to report net income of $2.03 per share on revenue of $2.5 billion. That's an increase of more than 10% over EPS a year ago. H&R Block has tended to fall short of estimates recently, and rival Jackson Hewitt (NYSE: JTX) missed its EPS estimates earlier this month. Still, analysts recommend buying HRB. Shares have risen 12.1% year to date, and the long-term EPS growth forecast is 11.7%.

Alcoholic beverage maker and distributor Constellation Brands (NYSE: STZ) is scheduled to report its fiscal first-quarter results Tuesday morning. Analysts are looking for earnings of 31 cents per share, up 32.3% from the same period of the previous year, on revenue of $906.1 million. Constellation has tended toward positive surprises recently, by 8 cents, or 33.8%, in the previous quarter. However, analysts recommend holding STZ and have for more than 90 days., even though the long-term EPS growth forecast is 12.3%. Although shares have risen 9.0% in the past three months, they are down 16.8% year to date.

Phoenix-based education company Apollo Group (NASDAQ: APOL) is scheduled to report its fiscal third-quarter results late Tuesday. Analysts on average are expecting the company to report net income of 78 cents per share -- the same as in the year ago period -- on revenue of $806.9 million. When it comes to meeting expectations, lately Apollo has a mixed record -- it fell short by 11 cents, or more than 20%, in the previous quarter. Analysts recommend buying APOL and have for more than 90 days. The long-term EPS growth forecast is 14.0%. Though shares have risen 4.2% in the past three months, they are down 31.6% year to date.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Bed Bath & Beyond Inc. (NASDAQ: BBBY) Q1 earnings tumbled while revenues rose.
• Casella Waste Systems Inc. (NASDAQ: CWST) posted a narrower-than-expected Q4 loss.
• CKE Restaurants Inc. (NYSE: CKR) Q1 earnings increased but its revenue slipped.
• Darden Restaurants Inc. (NYSE: DRI) swung to a Q4 profit on strong sales at Olive Garden.
• Ericsson (NASDAQ: ERIC) said it might not see Q2 profit growth on lower demand and shipping delays.
• General Mills Inc. (NYSE: GIS) Q4 earnings declined but were in line with expectations.
• Gerber Scientific Inc. (NYSE: GRB) reported solid Q4 and full-year results that pleased investors.
• IHS Inc. (NYSE: IHS) beat Q2 expectations and posted record quarterly cash flow from operations.
• Jabil Circuit Inc. (NYSE: JBL) stronger-than-expected Q3 results led to an analyst's upgrade.
• KB Home (NYSE: KBH) widened its Q2 loss due to weak sales and falling prices.
• Kroger Co. (NYSE: KR) beat Q1 expectations as consumers sought discounts on food and gas.
• Monsanto Co. (NYSE: MON) beat Q3 earnings estimates but fell short of revenue estimates.
• Nike Inc. (NYSE: NKE) posted better-than-expected Q4 results boosted by international strength.
• Oracle Corp. (NASDAQ: ORCL) posted strong Q4 results that topped analysts' expectations (see transcript).

On Thursday, home builder Lennar Corp. (NYSE: LEN) said that its fiscal second-quarter loss narrowed, as Wall Street had expected. KB Home (NYSE: KBH), on the other hand, reported Friday a larger-than-expected second-quarter loss due to weak sales and falling home prices, as well as write downs.

For the quarter ended May 31, Los Angeles-based KB Home reported a loss of $255.9 million, or $3.30 per share, compared to a loss of $148.7 million, or $1.93 per share, in the same period of the previous year. This includes a charge of $176.5 million against unsold homes and to abandon some land option contracts.

Revenue tumbled 55% to $639.1 million, driven by lower housing and land sales. Analysts polled by Thomson Financial had expected a loss of 94 cents per share on revenue of $691.3 million.

As of May 31, KB Home's backlog of homes yet to be delivered was 6,233 units, down 54% percent from the same quarter last year. Unit deliveries, meanwhile, fell 41% to 2,810 as the company attempted to scale back its inventory of homes on the market.

KB Home said its cancellation rate was 27%, down from 34% in the year-ago period and 53% in the first quarter, but new orders during the quarter fell 42% from a year ago to 4,200.