A major part of the first quarter earnings season is over with results from almost 75% of the S&P 500 members already out. While growth was more or less non-existent, actual results were better-than-expected with several companies coming out with positive surprises for both earnings as well as revenues.According to our Earnings Trend report, Q1 will be the 4th quarter in a row of earnings declines for the index.However, Medical is one of the sectors expected to witness earnings and revenue growth in the first quarter. Our Q1 scorecard shows that 75.5% of the Medical sector has reported results with earnings growth of 8.8% and revenue growth of 11.2%.Early next week, drug companies like Teva Pharmaceutical Industries Limited TEVA, Arena Pharmaceuticals, Inc. ARNA, BioDelivery Sciences International, Inc. BDSI, Inovio Pharmaceuticals, Inc. INO and Puma Biotechnology, Inc. PBYI will be reporting results.Let’s see how these stocks are poised ahead of the scheduled announcements.Teva, known for its strong presence in the generics market, will be reporting first-quarter 2016 results on May 9, before the opening bell. This Zacks Rank #4 (Sell) stock’s track record has been impressive with the company beating earnings estimates in three of the last four quarters. However, the combination of Zacks Rank #4 and Earnings ESP of +1.77% makes it difficult to conclusively show that Teva is likely to beat estimates this quarter (Read more: Teva Q1 Earnings: Will the Stock Deliver a Surprise?). The company’s generics segment could continue seeing some weakness in the first quarter. Arena, one of the key players in the branded obesity market, will also be reporting results on May 9. Performance of the company’s only approved product, obesity treatment - Belviq, has been lackluster. With another obesity focused company, VIVUS, Inc. VVUS, reporting that first quarter 2016 was unusual for the anti-obesity market as it failed to bounce back after the holiday season, will Belviq’s performance fall short of expectations?Although Arena has consistently surpassed earnings estimates, our proven model does not conclusively show that the company is likely to beat earnings estimates this quarter given the combination of Zacks Rank #3 and ESP of 0.00% (Read more: Arena Q1 Earnings: What's in Store for the Stock?). Biotech company, Inovio, is scheduled to report first quarter results on May 9, before the market opens. Inovio’s performance has been mostly disappointing with the company missing estimates in three of the last four quarters. The company’s combination of Zacks Rank #3 and ESP of 0.00% for the first quarter makes a surprise prediction difficult. (Read more: Inovio: What's in Store for the Stock in Q1 Earnings?). Specialty pharma company, BioDelivery, will be reporting first-quarter results on May 10, before the opening bell. Investor focus will remain on the performance of the company’s new products – Bunavail and Belbuca. BioDelivery’s track record is far from impressive with the company failing to surpass expectations in three of the last four quarters. Meanwhile, the combination of Zacks Rank #5 (Strong Sell) and Earnings ESP of +0.00% makes it difficult to conclusively show that BioDelivery is likely to beat earnings estimates this quarter (Read more: Will BioDelivery Disappoint Estimates in Q1 Earnings?). Development-stage biotech company, Puma is expected to report first-quarter 2016 results on May 9. The company has missed expectations in three of the last four quarters and its Zacks Rank #3 and ESP of 0.00% make a surprise prediction difficult for this quarter (Read more: What Awaits Puma Biotechnology in Q1 Earnings?). Stay tuned and check later on our full write-up on earnings releases of these stocks!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 VIVUS INC (VVUS): Free Stock Analysis Report ARENA PHARMA (ARNA): Free Stock Analysis Report BIODELIVERY SCI (BDSI): Free Stock Analysis Report INOVIO PHARMAC (INO): Free Stock Analysis Report TEVA PHARM ADR (TEVA): Free Stock Analysis Report PUMA BIOTECHNLG (PBYI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research