Barring the retail sector, almost all others have reached the last leg of the earnings season, with approximately 91.8% of the S&P 500 members having reported their results as of May 13, 2016 (per the latest Zacks Earnings Trend). Notably, a sizeable chunk of these companies delivered better-than-expected results, probably because estimates for this quarter were already reduced to easy-to-beat levels, owing to the global macroeconomic concerns. This therefore reflects an improvement in the overall corporate earnings picture.According to the report, earnings for the 459 S&P 500 companies that have reported are down 7.3% from the same period last year, while revenues have declined 1.4%. While 71% companies beat earnings estimates, 55.3% have surpassed revenue expectations. The report further projects that earnings for the total S&P 500 companies will decline 6.9% from the year-ago period, and total revenue will dip 1.1%. We observe that this will be the fourth straight quarter, if the index witnesses a drop in earnings.The performance of the index is not restricted to a single sector, and of the 16 Zacks sectors, 9 are expected to witness an earnings decline, with Basic Materials, Industrial Products, Energy and Conglomerates being a big drag. However, the Consumer Discretionary sector remains one of the bright spots in spite of overseas turmoil, yet-to-recover Chinese economy, fluctuating commodity prices and Fed rate-related controversies that to an extent are affecting consumers’ spending behavior.Total earnings for the Consumer Discretionary sector are expected to increase 8.3%, whereas revenues are projected to advance 5.7%. Among Consumer Discretionary stocks lined up to report, let’s take a sneak peek at three companies.Monro Muffler Brake Inc. MNRO, provider of automotive undercar repair and tire services, is slated to report fourth-quarter fiscal 2016 results on May 19. Our proven model does not conclusively show that Monro Muffler is likely to beat earnings estimates this quarter. This 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. Monro Muffler has an Earnings ESP of 0.00% as the Most Accurate estimate and the Zacks Consensus Estimate both stand at 43 cents. The company carries a Zacks Rank #3, which increases the predictive power of ESP. However, its ESP of 0.00% makes surprise prediction difficult.In the trailing four quarters, this Rochester, NY-based company outperformed the Zacks Consensus Estimate by an average of 0.02%.New York-based Take-Two Interactive Software Inc. TTWO, scheduled to release its fourth-quarter fiscal 2016 results on May 18, is likely to beat earnings estimates. The stock has a favorable combination of a positive Earnings ESP of 69.23% and a Zacks Rank #3. Meanwhile, the Zacks Consensus Estimate for the quarter is pegged at 13 cents. We note that in the trailing four quarters, this developer, publisher and marketer of interactive entertainment for consumers outperformed the Zacks Consensus Estimate by an average of 211.5%. (Read More: Take-Two Interactive Q4 Earnings: Will it Surprise?)Another Consumer Discretionary stock, The Toro Company TTC is slated to report second-quarter fiscal 2016 results on May 19. This provider of turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, agricultural micro-irrigation systems has an Earnings ESP of 0.00% and a Zacks Rank #3. The Zacks Consensus Estimate for the quarter currently stands at $1.80. In the trailing four quarters, this Bloomington, MN-based company outperformed the Zacks Consensus Estimate by an average of 9%.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 TORO CO (TTC): Free Stock Analysis Report TAKE-TWO INTER (TTWO): Free Stock Analysis Report MONRO MUFFLER (MNRO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research