Earnings Preview for Today: AMGN, AAPL, NFLX, SNDK

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Today got off to a bit of a rocky start on earnings. McDonald's Corp. (NYSE: MCD) beat estimates but not by much and growth appears to be stalled for the world's largest fast food chain. Oil field services firm Baker Hughes Inc. (NYSE: BHI) missed EPS estimates, and Coach Inc. (NYSE: COH) fell short on both revenues and earnings.

After markets close today we'll hear from Amgen Inc. (NASDAQ: AMGN), Apple Inc. (NASDAQ: AAPL), Netflix Inc. (NASDAQ: NFLX), and SanDisk Corp. (NASDAQ: SNDK). Here's what we expect.

Amgen is the first of the big biotech firms to report earnings. We had the stock fully valued going into this year, but shares have since fallen back to earth, trading today around $83.50, well below the consensus price target of $94.35. The consensus EPS estimate is $1.39 on revenues of $4.37 billion.

Apple is giving everyone fits. The share price has pulled back sharply as investor sentiment has shifted toward a more wary view of the world's largest tech company. Price targets have been cut and even some downgrades have been issued. The consensus price target is just shy of $710, well above today's price of around $512. The consensus EPS estimate is $13.44 on revenues of $54.73 billion, but if Apple doesn't smoke those numbers, investors will be disappointed.

Netflix has doubled from its 52-week low of around $53. The most bearish of the company's analysts - from Janney Capital - recently raised the stock to a 'buy' with a fair value of $129. The company's recent deal with Walt Disney Co. (NYSE: DIS) has given the company and its management some breathing space. The consensus estimate calls for an EPS loss of $0.13 on revenbue of $934.12 million.

SanDisk watched its stock price fall to near $30 last year before reversing course to where it now trades at around $48, within 10% of its 52-week high. The consensus target price is around $51.30 and the world's premier maker of flash memory could bust that with a big beat today. The consensus estimate calls for EPS of $0.76 on revenues of $1.53 billion.

Filed under: 24/7 Wall St. Wire, Earnings Tagged: AAPL, AMGN, BHI, COH, DIS, MCD, NFLX, SNDK