Going into this morning’s earnings report, analysts had been expecting to see Apollo Group report earnings of $0.69 for its fiscal second quarter. Adjusted earnings were higher than estimates at $0.84 per share, but actual results showed a loss of $0.45 per share.

The primary reason why the company had such a big loss was due to a drop in new student enrollments.

Apollo is the parent company for Pheonix University, and it is working hard to attract new students to its program. In order to attract new students, the company has been allowing students to try out their programs for free before deciding if they want to join the program full time.

In addition to allowing students a trial period, Apollo is also investing heavily into marketing itself which is also weighing on the company’s bottom line. The amount that Apollo pays to put a new student into its program has doubled over the past year to $3,200 .

Looking ahead to its full year 2011 results, Apollo now expects to see net revenue in a range of $4.65 billion to $4.75 billion. Analysts have previous forecast full year revenues of $4.69 billion.

The stock is trading down 10.2% in premarket trading.

According to the Commerce Department, the economy grew at 3.1% during the fourth quarter, which is higher than analysts had been expecting to see. Going into today’s report analysts had been expecting to see revised GDP output of 3.0%.

Last month the Commerce Department made a preliminary forecast of 2.8% GDP growth during the fourth quarter.

Most analysts agree that GDP has continued to grow in the first quarter, but rising oil prices over the past month will probably prevent us from seeing the same sort of growth that the economy enjoyed during the fourth quarter.

A key ingredient to the current economic recovery is consumer spending. During the final 3 months of 2010 consumer spending rose 4.0%, which is the most it has risen during a 3 month period since the fourth quarter 2006.

In reaction to the news the DOW is currently up 0.3%, the NASDAQ has gained 0.3%, and the S&P is up 0.2%.

Here are a few of the names that will be reporting tomorrow:

• Bristol Myers Squibb (BMY) : Bristol Myers will be reporting its first quarter results tomorrow. The company is expected to report earnings of $0.51 per share, verses $0.41 during the same period last year. The stock closed the day up 0.5% to $24.34 and will report earnings before the market opens.
• Exxon Mobil (XOM) : Exxon will be reporting its first quarter results tomorrow. The company is expected to report $1.41 per share, compared to $0.92 during the same period last year. It will announce its results before the market opens. Exxon stock traded up 1.35% today to $69.19.
• Procter & Gamble (PG) : Procter & Gamble will be reporting its fiscal third quarter results tomorrow. The company is expected to report earnings of $0.82 per share, compared to $0.84 during the same period last year. The stock finished the day up 0.87% to $63.17 and will announce its quarterly results before the market opens.

• Microsoft (MSFT) : Tech giant Microsoft set a new 52 week high today, trading up to $31.58 before closing the trading session down 1.4% on the day to $30.96, down $0.43. The company posted better than expected fiscal Q3 earnings last night following the market close.
• Apple Computer (AAPL) : Apple continues to trade strongly following better than expected earnings earlier this week. The stock hit a new all time high today of $272.18. The stock finished out the session up 1.6% to $270.83, up $4.36.
• Home Depot (HD) : Home improvement giant Home Depot set a new 52 week high today. The stock traded as high as $36.44 and closed the session just under its daily high at $36.39, up $0.67 or 1.9%. Home Depot will not be reporting its earnings until mid May.
• American Express (AXP) : Financial giant American Express set a new 52 week high today of $49.19. The stock closed the day up 2.7% at $48.05, up $1.28. The company posted better than expected earnings Thursday night, reporting $0.73 per share, verses analyst estimates for $0.63.

Going into this mornings earnings report, analysts were forecasting $0.15 per share, verses $0.05 during the same period last year.

Actual earnings came in well above estimates, at $0.18 per share excluding special items.

Revenues were up by 33% during the quarter to $4.7 billion. Analysts had forecast revenues of $4.79 billion.

Looking ahead Xerox stated that it expects to earn 20 to 22 cents for its second quarter, above Wall Street estimates of $0.18.

The stock is trading up 10.2% today to $11.52, up $1.07.

• Amazon.com Inc. (AMZN) : Following tomorrow’s market close, online auction giant Amazon is going to report its first quarter results. Analysts are forecasting earnings of $0.61 per share, verses $0.41 during the same period last year.
• American Express Co. (AXP) : American Express will report Q1 earnings tomorrow after the market close, and Wall Street analysts are looking to see earnings of $0.63 per share. During the same period last year the company had earnings of $0.32.
• Pepsico (PEP) : Pepsi is going to be reporting Q1 numbers tomorrow. Analysts are expecting to see the company post earnings of $0.75 per share, verses $0.71 during the same period last year. The company will report numbers before the market open.
• Capital One Financial (COF) : Capital One will be reporting its first quarter numbers tomorrow, and analysts are forecasting earnings of $0.57 per share, verses a loss of $0.45 during the same period last year. Capital One will be reporting its earnings before the market opens in the morning.

• McDonald’s Corp. (MCD) : McDonald’s is going to be reporting its first quarter numbers tomorrow with analysts forecasting $0.96 per share, verses $0.83 during the same period last year. The company will be reporting its Q1 numbers before the market opens in the morning.
• The Boeing Company (BA) : Boeing is due to report its Q1 results tomorrow, and Wall Street has forecast earnings of $0.64 per share, verse $0.87 during the same period last year. Boeing earnings will be released before the market opens tomorrow.
• Amgen (AMGN) : Amgen will be reporting first quarter numbers tomorrow after the market closes. Analysts have forecast earnings of $1.24 per share, verses $1.08 during the same period last year.
• Qualcomm Inc. (QCOM) : Qualcomm is going to be reporting fiscal Q2 earnings tomorrow, and analysts are forecasting $0.57 per share. During the same period last year the company had earnings of $0.41, and will be reporting after the market closes Wednesday.

• Exxon Mobil (XOM) : Exxon was upgraded by Raymond James today to Outperform from Market Perform
• Dell Computer (DELL) : Dell was upgraded by Robert W. Baird & Co. to Outperform from Neutral
• Kroger (KR) : Kroger was upgraded by EVA Dimensions, LLC today to Buy from Overweight

As we noted in our Google earnings preview, analysts had forecast earnings of $6.60 for the quarter. Google outpaced analyst earnings by posting earnings of $6.76 a share.

Despite posting better than expected earnings figures, the stock traded down nearly 5% in after hours trading as investors reacted negatively to the company’s rising costs.

Total costs and expenses rose to $4.3 billion from $3.6 billion during the same period last year. Most of the increase in expenses came from hiring close to 800 new employees during the quarter.

Visit bloggingstocks for a more in depth analysis of Google’s first quarter results.

• Google Inc. (GOOG) : Google will be reporting its first quarter numbers tomorrow after the market closes. Wall Street has forecast earnings of $6.57 per share. For the same period last year the company had earnings of $5.16. GOOG was up 0.38% on the day to $589.00. The company will report earnings after the market close.
• Advanced Micro Devices Inc. (AMD) : AMD will be releasing its first quarter results tomorrow, and analysts have forecast the company to report a loss of $0.07 per share. During the same period last year the company reported a loss of $0.66. The stock traded up 3.4% on the day to $9.89. The company will report earnings after the market close.
• Bank of America Corporation (BAC) : Bank of America will be reporting its first quarter results on Friday with analyst forecasting $0.09 a share. For the same period last year the company had earnings of $0.44. The company will be reporting before the market opens on Friday.
• General Electric (GE) : General Electric will be reporting its first quarter results on Friday. Wall Street analysts have forecast earnings of $0.16, compared with $0.26 during the same period last year. The company will be reporting before the market opens Friday.