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While earnings season often provides companies an opportunity to tout their latest successes, some firms are expected to fall flat on their face.
Of those companies announcing earnings this week, subprime lender World Acceptance has been the most shorted stock ahead of quarterly announcement, followed closely by IT firm Neustar, according to data from Markit.
With almost a third of its shares outstanding on loan, World Acceptance is actually less shorted than in April when it had over 40 percent on loan, according to Markit.
Markit also found that the company seeing the largest jump in shorted stock is oil rig leaser Hercules Offshore. The company "has seen its short interest more than double in the last four weeks after announcing the loss of two forecasted contracts, which had many investors questioning the strength of the company's backlog of work," Markit analyst Simon Colvin wrote.
And while shorts are piling into Hercules Offshore and biofuel marketer and producer Pacific Ethanol, Markit found that Hawaiian Holdings—parent of Hawaiian Airlines—is seeing the biggest decrease in its shares on loan.
Here's the rest of Markit's list:
This earnings season may prove tough for those holding shorts. Some 67 percent of S&P 500 companies that have already reported this quarter announced revenue above analyst expectations, and 68 percent have beaten on earnings, according to data from Thomson Reuters.
This exceeds long-term averages in Reuters figures of 61 percent beating on the top line and 63 percent beating on earnings.
—By CNBC's Everett Rosenfeld