Competition in the Hospitals industry is starting to heat up, and a few stocks, like Tenet Healthcare Corp. (THC), are emerging from the pack.

Here's something to watch. Tenet Healthcare Corp., Universal Health Services Inc. (UHS) and Community Health Systems, Inc. (CYH) are each affected by the same general fundamental forces that affect all of the companies in the Hospitals industry. However, if you dig down into the short interest for each stock and calculate their short-interest ratios, you will see that stock traders have more confidence in Tenet Healthcare Corp. than they do in the other two.

Short-interest ratios tell you how long---on average---it will take short traders to cover their short positions on a particular stock. Take these three stocks for instance.

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Tenet Healthcare Corp. has a current short ratio of 1.39. That means it would take approximately 1.39 days for traders to cover their short positions.

Universal Health Services Inc. has a current short ratio of 2. . That means it would take approximately 2. days for traders to cover their short positions.

Community Health Systems, Inc. has a current short ratio of 7.56. That means it would take approximately 7.56 days for traders to cover their short positions.

Typically, the higher the short ratio, the more bearish traders are on a stock. So out of these three stocks in the Hospitals industry, Tenet Healthcare Corp. seems to be in the best shape in the minds of traders and Community Health Systems, Inc. is in the worst shape.

Of course, stocks with too much short interest are always in danger of becoming the target of a short squeeze so make sure to watch for those stocks with high levels of short interest to suddenly take off on any signs of good fundamental or economic news.

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July 28

Clean energy company FPL Group (FPL) will be on focus before the market opens Tuesday, as Wall Street analysts have a consensus earnings estimate of $0.97 per share on revenues of $3.89 billion for the second quarter. The company currently projects 2009 adjusted earnings in the range of $4.20 - $4.40 per share and 2010 adjusted earnings of $4.65 and $5.05 per share. Previously, the company expected full-year 2009 adjusted earnings of $4.05 - $4.25 per share and fiscal 2010 adjusted earnings of $4.50 - $4.90 per share. Analysts are looking for earnings of $4.22 per share for 2009 and $4.75 per share for fiscal 2010.

For healthcare services and information technology company McKesson Corp. (MCK), which is slated to report first-quarter results at 4:00pm ET, analysts are expecting earnings of $0.86 per share and revenues of $26.78 billion. While releasing fourth-quarter numbers, the company said it expects fiscal 2010 earnings in the range of $3.90 - $4.05 per share, while analysts currently anticipate earnings of $3.99 per share. Distribution solutions revenue is expected to be up modestly, with technology solutions revenue growing at similar levels to fiscal 2009.

As the weak customer traffic continues and order size for office supplies remains average, analysts are expecting the office supplies retailer Office Depot Inc. (ODP) to report a loss of $0.12 per share on revenues of $2.88 billion. The company is scheduled to release second-quarter results before the market opens on July 28.

Oilfield services company Smith International Inc. (SII) will issue forth second-quarter results before the market opens, with analysts projecting earnings of $0.22 per share, on revenues of $2.01 billion.

Tougher-than-expected business environment, investments in price and higher levels of promotional spending battered first-quarter same-store sales and net earnings for Supervalu Inc. (SVU). The grocery stores operator will mete out first-quarter scorecard on July 28, as analysts expect the company to report earnings of $0.53 per share, on revenues of $12.82 billion. In the year-ago quarter, the company posted earnings of $0.76 per share, on net sales of $13.35 billion. On June 24, the Eden Prairie, Minnesota-based firm said it anticipates first-quarter earnings to be "substantially" below the consensus of the Wall Street analysts. Analysts at that time had expected earnings of $0.65 per share for the first quarter.

Industrial conglomerate Textron Inc. (TXT) is expected to incur a loss of $0.01 per share on revenues of $2.62 billion for the second quarter. The results are due to be released before the market opens on July 28. For fiscal 2009, Textron currently expects earnings from continuing operations, excluding special charges, to range between $0.45 and $0.75 per share, on revenues of about $11.0 billion. Analysts expect the company to report earnings of $0.22 per share on revenue of $10.53 billion for the year. Earlier, the company estimated earnings from continuing operations, excluding special charges, in the range of $1.00 - $1.50 per share, and revenues of about $12.5 billion.

Advertising and marketing services provider Interpublic Group of Companies Inc. (IPG) will publicize second-quarter scorecard before the market opens, with analysts forecasting earnings of $0.10 per share on revenues of $1.60 billion.

Book publisher McGraw Hill Companies (MHP) will readout second-quarter numbers before the market opens on July 28, with analysts projecting earnings of $0.55 per share on revenues of $1.54 billion. Most recently, the New York- based company said it initiated several measures, including realignment of select business operations and a workforce reduction of about 550 positions, in an effort to strengthen core offerings and help manage costs.

McGraw-Hill is expected to incur pre-tax restructuring charge, primarily severance related charges, of about $24.3 million. For fiscal year 2009, the company continues to expect ongoing earnings within a range of $2.20 - $2.30 per share, while it currently expects revenue to decline 4.0% - 5.0% compared to earlier forecast of a decrease of 1.0% - 2.0%.

The lineup of companies to issue forth financial results Tuesday include United States Steel Corp. (X), BE Aerospace (BEAV), BP plc (BP), Canon (CAJ), Celanese Corp. (CE), Check Point Software Technologies (CHKP), Integrated Device Technology (IDTI), STMicroelectronics (STM), Teva Pharmaceutical (TEVA), Rockwell Automation (ROK), Ecolab Inc. (ECL), Coventry Health Care Inc. (CVH).

July 29

Nonalcoholic refreshment products company Coca-Cola Enterprises Inc. (CCE) said its second-quarter business trends are broadly in line with expectations. The second-quarter numbers are scheduled to be released on July 29, with analysts expecting earnings of $0.51 per share on revenues of $5.99 billion.

In mid-May, Coca-Cola said it continues to expect full-year 2009 earnings to range between $1.24 and $1.29 per share, excluding one-time, nonrecurring items and including an estimated 20% per share negative impact from currency translation based on recent rates.

ConocoPhillips (COP), the third largest U.S. oil company, is due to report second-quarter financial results on July 29. Analysts polled by Thomson Reuters currently expect the company to earn $0.85 per share on revenue of $39.08 billion for the second quarter. Analysts' estimates typically exclude special items.

Defense contractor General Dynamics (GD) is expected to report earnings of $1.57 per share on revenues of $8.13 billion for the second quarter. The results are slated to be released on July 29.

Credit ratings provider Moody's Corp. (MCO) will issue forth its second-quarter numbers Wednesday, with analysts expecting earnings of $0.40 per share on revenues of $426.57 million. The company reaffirmed its full-year 2009 earnings guidance to a range of $1.40 - $1.50 per share. However, Moody's lowered its forecast for full-year revenue, saying it now expects revenue to decline in the mid-single-digit percentage range. Earlier, the company forecast revenue to decline in the low single-digit percent range.

Time Warner Cable Inc. (TWC) will report second-quarter results before the market opens, with analysts forecasting earnings of $0.79 per share on revenues of $4.44 billion, while Media and entertainment giant Time Warner Inc. (TWX) is expected to post earnings of $0.37 per share on revenues of $6.97 billion for the second quarter. While releasing first-quarter numbers, Time Warner said it continues to expect full-year 2009 adjusted income per share from continuing operations to be around flat, compared with its adjusted earnings per share of $1.98 in 2008. This guidance reflects the company's 1-for-3 reverse stock split on March 27 in both the prior and current year. Analysts expect the company to report earnings of $1.98 per share for fiscal 2009.

Health insurer WellPoint Inc. (WLP) will issue second-quarter results at 06:00 am ET, with analysts projecting earnings of $1.42 per share on revenues of $15.43 billion. For fiscal 2009, WellPoint now expects net income to range between $5.14 and $5.20 per share, including net realized investment losses of $0.46 per share, versus earlier projected earnings of $5.51 - $5.66 per share.

Other companies to tag along with the whales to spout out quarterly results Wednesday are Flowserve Corp. (FLS), Hartford Financial Services (HIG), O'Reilly Automotive (ORLY), Symantec (SYMC), Watson Pharmaceuticals Inc. (WPI), Wyndham Worldwide (WYN), Praxair Inc. (PX), ArcelorMittal (MT), Banco Santander S.A. (STD), Brookfield Properties Corp. (BPO), Cadbury plc (CBY), Deutsche Bank (DB), Flextronics (FLEX), Goldcorp (GG), Honda Motor Co. Ltd. (HMC), Jones Apparel Group Inc. (JNY), Ness Technologies Inc. (NSTC), Sanofi-Aventis (SNY), SAP AG (SAP), Silicon Laboratories Inc. (SLAB), Tyco Electronics (TEL), United Microelectronics Corp. (UMC), Visa Inc. (V), Whiting Petroleum Corp. (WLL), Fiserv (FISV), Qwest Communications (Q),Sprint Nextel Corp. (S).

July 30

Thursday's earnings will be led by three Dow components ExxonMobil Corp (XOM), Travelers Companies Inc. (TRV) and Walt Disney (DIS).

Oil giant ExxonMobil is due to report second-quarter results before the market opens, with analysts expecting earnings of $1.02 per share on revenues of $73.01 billion.

Commercial and home property insurer Travelers is expected to post earnings of $1.28 per share on revenues of $6.17 billion for the second quarter. The results are slated to be released before the market opens on July 30. For fiscal 2009, the company currently expects full-year earnings of $4.55 - $4.95 per share, up 5 cents from the prior projected range of $4.50 - $4.90 per share.

Diversified media and entertainment company Walt Disney is likely to blazon out third-quarter results at 4:01 pm ET on July 30. Analysts are looking for earnings of $0.50 per share on revenues of $8.83 billion.

AmeriSourceBergen (ABC), Aon Corp. (AOC), Apache Corp. (APA), Automatic Data Processing (ADP), Becton, Dickinson and Co. (BDX), CIGNA (CI), Colgate-Palmolive (CL), Eastman Kodak Co. (EK), Goodyear Tire & Rubber (GT), International Paper Co. (IP), Kellogg Co. (K), MasterCard Inc. (MA), MetLife Inc. (MET), Monster Worldwide (MWW), Motorola Inc. (MOT), Mylan Inc. (MYL), Newell Rubbermaid (NWL), NYSE Euronext (NYX), Parker Hannifin Corp. (PH), Pitney Bowes Inc. (PBI), Dow Chemical Co. (DOW), Waste Management (WMI), Xcel Energy (XEL), Avon Products Inc. (AVP), McAfee Inc. (MFE), Cummins Inc. (CMI), Alcatel-Lucent (ALU), AstraZeneca PLC (AZN), Barrick Gold (ABX), British American Tobacco (BTI), British Sky Broadcasting Group plc (BSY), Community Health Systems Inc. (CYH), Covidien Ltd. (COV), Eni S.p.A. (E), France Telecom (FTE), Level 3 Communications (LVLT), Petro-Canada (PCZ), Pride International Inc. (PDE), Tyco International (TYC) are among the hordes of companies slated to release quarterly results Thursday.

July 31

Oil company Chevron Corp. (CVX) most recently said it expects upstream earnings for the second quarter, compared to the first quarter, to benefit from an increase in prices for crude oil, largely offset by substantial unfavorable foreign currency effects. Downstream results are projected to be significantly lower than the first quarter.

Amid the global economic crisis that has led to a decline in oil and natural gas demand, sending oil prices down, Wall Street analysts expect Chevron to report earnings of $0.95 per share, on revenues of $32.47 billion for the second quarter. The results are slated to be released on July 31.

Fellow Dow member, natural gas and electricity provider Dominion Resources Inc. (D) is likely to dole out second-quarter results Friday, with analysts expecting earnings of $0.64 per share on revenues of $3.61 billion. The energy company projects second-quarter operating earnings to range between $0.61 and $0.66 per share. This compares to operating earnings of $0.50 per share in the second-quarter of 2008. Drivers expected to compare favorably to 2008 include higher contributions from the merchant generation, producer services and gas transmission businesses.

Multi-specialty healthcare company Allergan Inc. (AGN) will publicize second-quarter results before the market opens, with analysts expecting earnings of $0.67 per share on revenues of $1.08 billion. While releasing first-quarter figures, the company said it expects second-quarter GAAP earnings of $0.59 - $0.61 per share and non-GAAP earnings of $0.66 - $0.68 per share, on total product net sales of $1.05 billion - $1.1 billion. Allergan further noted that it continues to expect the previously projected full-year GAAP earnings of $2.06 - $2.12 per share and non-GAAP earnings of $2.69 - $2.75 per share, on revenue of $4.1 billion - $4.3 billion.

Automotive retailer AutoNation (AN) will publish second-quarter numbers with analysts expecting earnings of $0.24 per share on revenues of $2.82 billion, while electric utility Constellation Energy Group Inc. (CEG) will issue forth second-quarter results before the market opens with analysts projecting earnings of $0.76 per share on revenues of $3.57 billion. Constellation Energy continues to expect fiscal 2009 earnings in the range of $2.90 - $3.20 per share. The company also reaffirmed its fiscal 2010 earnings outlook range of $3.05 - $3.45 per share.

Forest products provider Weyerhaeuser Co. (WY) is expected to have a loss of 71 cents on revenues of $1.46 billion for the second quarter. The results are due to be announced before the market opens on July 31. While reporting first-quarter numbers, the company said it expects a smaller operating loss for the Wood Products segment in the second quarter due to cost reductions resulting from first quarter facility closures and other cost control measures. Weyerhaeuser also expects a second-quarter loss for Cellulose Fibers division due to expenses related to a planned major boiler maintenance project, other annual maintenance outages and lower pulp prices.

Anglo American Plc (AAUK), Anglogold Ashanti Ltd. (AU), Calpine Corp. (CPN), DryShips Inc. (DRYS), Eldorado Gold Corp. (EGO), Total (TOT).

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