Analysts were expecting Fidelity National Financial, Inc. (FNF) [Chart - News - Analysis] to report earnings of $0.34 for last quarter, but FNF missed expectations with actual earnings of $0.32---2 cents below the consensus estimate.

If you compare last quarter's earnings to the $-0.95 the company made per share during the same quarter a year ago, you can see that FNF’s earnings are up this year.

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Also, if you compare FNF's 11.50% projected earnings-per-share (EPS) growth rate for the next five years with the projected EPS growth rate of 9.94% for the Surety & Title Insurance industry as a whole during that same time frame, you can see that analysts expect FNF to outperform the industry in the future---which is a good sign for the stock.

Drilling down a little deeper into the Surety & Title Insurance industry, you can see how analysts believe FNF will stack up against some of the other stocks in the industry, like First American Corp. (FAF) [Chart - News - Analysis] and Old Republic International Corp. (ORI) [Chart - News - Analysis], in the future. Analysts believe FAF's earnings are going to grow at a rate of 10.00% while ORI's earnings are going to grow at a rate of 10.00%.

Earnings season can be a volatile time in the stock market. Check out these videos and articles to be better prepared to take advantage of the large price moves that tend to accompany earnings announcements.

- Earnings Season is Here - Find Out How to Trade It

- Using Options to Trade Earnings

- Understanding Stock Analyst Research and Recommendations

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Wunderlich gave the Surety & Title Insurance industry some good news as it announced it has initiated coverage on one of its stocks.

Old Republic International Corp. (ORI) [Chart - News - Analysis] was given a rating of Buy on 9/11/2009. FYI, Wunderlich uses the following rating scale when analyzing stocks: Accumulate, Buy, Hold, Sell.

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Old Republic International Corp. has an average analyst recommendation score of 2.5 and competes with First American Corp. (FAF) [Chart - News - Analysis] and Fidelity National Financial, Inc. (FNF) [Chart - News - Analysis]---two other stocks in the Surety & Title Insurance industry that have average analyst recommendation scores of 2.4 and 2.0 respectively.

Analyst recommendations are averaged and scored using the following rating scale:

- 1.0 = Strong Buy

- 2.0 = Buy

- 3.0 = Hold

- 4.0 = Sell

- 5.0 = Strong Sell

Why are Upgrades and Initiations Good and Downgrades Bad?

One event that is almost certain to get a reaction from Wall Street is an analyst upgrade or downgrade. Everyone is looking for an edge in the stock market, and quite often, traders turn to stock analysts to get that edge.

Upgrades and coverage initiations are typically good for stocks because they show that analysts either believe that the stock is going to perform better in the future or that the stock is worth covering and providing analysis on.

Downgrades are typically bad for stocks because they show that analysts believe that the stock is going to perform worse in the future.

What is a Stock Analyst?

Check out the Understanding Stock Analyst Research and Recommendations video and article for more info.

A stock analysts is a person---typically employed by a large bank, investment firm or analysis company---who devotes his/her life to learning and making predictions about a company and its future performance.

Stock analysts sift through company reports and filings, talk to company management, probe customers and competitors and basically do whatever they can to find out if a company is healthy and growing or sick and shrinking. Because this is incredibly demanding work, stock analysts typically only monitor one or two companies at a time.

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Biotechnology company Amgen (AMGN), which also market human therapeutic products, will report second-quarter results after the market closes on July 27, with analysts expecting earnings of $1.16 per share on revenues of $3.58 billion.

For fiscal 2009, Amgen still projects adjusted earnings to range between $4.55 and $4.75 per share. However, the company slashed its revenue outlook to a range of $14.4 billion - $14.8 billion from its previous expectation of $14.8 billion - $15.2 billion. Street expects earnings of $4.57 per share on revenue of $14.33 billion for the year.

Specialty glass products maker Corning Inc. (GLW) currently expects second-quarter sequential volume to be up approximately 100% at its wholly owned business, citing much stronger than anticipated glass demand during the quarter. Corning is expected to post earnings of $0.32 per share on revenues of $1.36 billion for the second quarter. The results are scheduled to be released before the market opens.

Honeywell International Inc. (HON) is expected to make headlines before the market opens with its second-quarter report card as analysts are expecting the world's largest maker of airplane cockpit controls to report earnings of $0.60 per share on revenues of $7.73 billion. While releasing first-quarter numbers, Honeywell said it currently expects fiscal 2009 earnings to range between $2.85 and $3.20 per share, with sales in the range of $32.3 billion - $33.2 billion. Earlier, the company projected 2009 earnings between $3.20 and $3.55 per share, and sales in the range of $33.6 billion - $35.3 billion. Analysts are looking for earnings of $2.83 per share, on revenues of $32.61 billion for fiscal 2009.

Telecommunications networking products supplier Tellabs Inc. (TLAB) will layout second-quarter scorecard at 07:00 am ET, as analysts are projecting earnings of $0.06 per share on revenues of $381.34 million. The company, on April 28, said it expects second-quarter revenue to be flat to up by a high-single-digit percentage. Non-GAAP gross margin is expected to be flat, plus or minus a point or two, as a result of product mix.

ACE Limited (ACE), Alpha Natural Resources Inc. (ANR), Cott Corp. (COT), Fidelity National Financial Inc. (FNF), Foundation Coal Holdings Inc. (FCL), Health Management Associates Inc. (HMA), W.R. Berkley (WRB), CF Industries (CF), Lorillard Inc. (LO), and Invesco Ltd. (IVZ) are among the major companies to release quarterly results today.

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