FCX and PPG Prepare for Volatility Ahead of Earnings Tomorrow

Freeport-McMoRan Copper & Gold, Inc. (NYSE:FCX) will unveil its latest earnings on Thursday, January 19, 2012. The average estimate of analysts is for profit of 69 cents per share, a decline of 57.7% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.09. Between one and three months ago, the average estimate moved down. It also has dropped from 74 cents during the last month. Analysts are projecting profit to rise by 5% versus last year to $4.87.

Last quarter, the company missed estimates by 2 cents, coming in at net income of $1.10 per share versus a mean estimate of profit of $1.12 per share. In the second quarter, the company beat estimates by 15 cents. On average, analysts predict $3.85 billion in revenue this quarter, a decline of 31.3% from the year ago quarter. Analysts are forecasting total revenue of $20.98 billion for the year, a rise of 10.5% from last year’s revenue of $18.98 billion.

Competitors to Watch: Southern Copper Corp. (NYSE:SCCO), Rio Tinto plc (NYSE:RIO), Newmont Mining Corporation (NYSE:NEM), Taseko Mines Limited (AMEX:TGB), HudBay Minerals Inc. (NYSE:HBM), Alcoa Inc. (NYSE:AA), Western Copper Corporation (WRN), Royal Gold, Inc. (NASDAQ:RGLD), Augusta Resource Corp. (AMEX:AZC), and Vista Gold Corp. (AMEX:VGZ).

PPG Industries, Inc. (NYSE:PPG) will unveil its latest earnings on Thursday, January 19, 2012. The average estimate of analysts is for net income of $1.28 per share, a rise of 2.4% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.49. Between one and three months ago, the average estimate moved down. It also has dropped from $1.32 during the last month. For the year, analysts are projecting profit of $6.78 per share, a rise of 30.4% from last year.

Last quarter, the company beat estimates by 3 cents, coming in at net income of $1.96 a share versus the estimate of profit of $1.93 a share. It marked the fourth straight quarter of beating estimates. Analysts are projecting a rise of 3.6% in revenue from the year-earlier quarter to $3.5 billion.

Competitors to Watch: The Valspar Corporation (NYSE:VAL), RPM International Inc. (NYSE:RPM), Sherwin-Williams Company (NYSE:SHW), E.I. du Pont de Nemours & Co. (NYSE:DD), Akzo Nobel N.V. (AKZOY), Southwall Technologies (SWTXD), Olin Corporation (NYSE:OLN), Corning Incorporated (NYSE:GLW), and FMC Corporation (NYSE:FMC).