Advanced Micro Devices, Inc. AMD is set to report first-quarter 2016 results on Apr 21. Last quarter, the company posted in-line results.Let’s see how things are shaping up for this announcement.Factors to ConsiderAdvanced Micro reported decent fourth-quarter 2015 results with both revenues and earnings coming in line with the Zacks Consensus Estimate. However, revenues were down 9.7% sequentially and 22.7% year over year due to lower sales of semi-custom System on Chip (SoC). Lower client processor sales led to the year-over-year decline.The decline in global PC demand which affected fourth-quarter results will again be reflected in the to-be-reported sales and profit figures.Moreover, the company had issued weaker-than-expected first-quarter guidance. It expects lower demand for graphic chips used in consoles due to seasonality and a 14% sequentially (+/- 3%) decline in revenues following economic slowdown in China.Earnings WhispersOur proven model does not conclusively show that Advanced Micro will beat estimates this quarter. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. That is not the case here as you will see below.Zacks ESP: The Most Accurate estimate stands at a loss of 16 cents, while the Zacks Consensus Estimate is pegged at a loss of 15 cents. Hence, the difference is -6.67%.Zacks Rank: Advanced Micro has a Zacks Rank #4 (Sell).We caution against stocks with a Zacks Rank #4 or 5 (Sell rated) going into the earnings announcement, especially when the company is seeing negative estimate revisions.Stocks to ConsiderYou could consider the following stocks with a positive Earnings ESP and a favorable Zacks Rank:Barracuda Networks, Inc. CUDA, with an Earnings ESP of +200.0% and a Zacks Rank #1. The company is slated to report fourth-quarter fiscal 2016 earnings results on Apr 26, 2016.Align Technology Inc. ALGN, with an Earnings ESP of +12.82% and a Zacks Rank #1. The company is slated to report first-quarter 2016 earnings results on Apr 28, 2016.Canadian Pacific Railway Limited CP, with an Earnings ESP of +1.10% and a Zacks Rank #1.The company is slated to report first-quarter 2016 earnings results before the market opens on April 20, 2016.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CDN PAC RLWY (CP): Free Stock Analysis Report ADV MICRO DEV (AMD): Free Stock Analysis Report ALIGN TECH INC (ALGN): Free Stock Analysis Report BARRACUDA NTWRK (CUDA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research