Nokia: Nokia is down a whopping 35% for the year, despite having market share of 49.4% in the Smartphone market. Over the past few months several analysts have downgraded Nokia, all suggesting that its current market share is slipping and that the escalating cost of food in India, China and Brazil, could hurt the Nokia’s total sales volume. With this bad news baked into the stock, Nokia is poised to report a solid earnings surprise. The company has $16 billion in cash, operating margins north of 15% with revenue growth of almost 30% per quarter. If increasing food prices are indeed an issue, it should be a positive one for shares of Nokia, as people in developing nations have substantially less capital and thus prefer the lower priced Nokia phones over Apple’s I-Phone, or RIMM’s Blackberry. Analyst Tero Kuittinen from Global Crown Capital Equity Research put out a positive piece a week ago entitled 'Nokia: It is Time to Buy the Stock; Bad News Likely Priced in' highlighting the fact that the company just started shipping, new radically improved cheap phones, which could help its oversea sales. Buy it before it reports earnings up 10%

Eaton: Eaton, which designs, manufactures markets and services electrical systems and components worldwide, should be an interesting trade as investor sentiment is very bearish on international construction companies; after the horrible miss by Oshkosh. My bet is that international growth is booming and that Eaton is going to have a monster quarter. Eaton has a history of beating earnings estimates and either guiding above or slightly above analyst estimates.

Reliance Steel: Reliance Steel, which is by far the cheapest of the steel companies, reports earnings this week—they are going to report a monster upside quarter and you’re going to want to take part in that. After positive news from Cleveland-Cliffs and Mechel Open Joint Stock, Reliance will be next in-line to beat earnings, and/or raise guidance. Forward PE of 9 doesn’t reflect its true earnings potential, given where steel prices are going. Barclays Capital analyst Amrita Sen "The recent surge in steel prices can in no sense be seen to have peaked, given the tightness in the scrap and raw material market,"

Anadarko Petroleum: Anadarko has been totally killed, down about 20% since early June, mostly due in part to an very so slight pullback in natural gas futures. Anadarko is dirt cheap trading with a forward PE of just 11, and has huge untapped reverses in Pennsylvania’s Marcellus Shale. With a 50% deep-water-drilling success rate, the highest in the industry; Anadarko is simply to cheap to ignore.

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