Earnings play a huge role in the success of stocks. That is because analysts and investors bid up stocks in anticipation of a good report and then watch them pop as they beat the estimates. There’s nothing like the thrill of a great earnings surprise from stocks in your investment portfolio, because it indicates that company is performing well — and also usually results in a nice profit that you can pocket.

The reverse can also be true when a company misses estimates. Shares tumble because investors interpret a bad report as a sign of weakening business. Smart investors would get out of these stocks right away but ill-advised ones will stick around either because they are reluctant to admit that their stock is underperforming or because they think they can take advantage of a “turnaround” opportunity — one that’s never going to happen.

To make sure that you don’t fall into the latter camp of investors, I’ve come up with a list of the five stocks you should avoid in the coming months. These stocks have foundered in several of the past quarters and show no signs of a comeback in the near term.

China-based AgFeed Industries (NASDAQ: FEED) has had a rough year. Despite being a part of the incredibly powerful Chinese economic engine, the stock has fallen about 60% in the past 12 months and has not posted a single earnings surprise in the last four quarters. In fact, FEED has averaged a 95% earnings miss and analysts have decreased their estimates for the upcoming quarter from 4 cents a share to 0 cents a share.  This indicates another losing quarter is likely in the future for FEED. Don’t be misled into thinking that this is a cheap comeback play, however. This is just a weak stock and you should avoid it at this time.

Ever since the BP oil spill in the Gulf of Mexico, offshore drilling has become a sensitive subject. But it is a profitable business and there are many companies that make a very good living at it. Global Industries (NASDAQ: GLBL) is not one of these companies, however. The company provides construction and services to the oil and gas industry, but it still has a horrific earnings history. The company has missed estimates by an average of 10% in the last year and analysts have revised estimates for the coming quarter downward by 72%. This doesn’t bode well for potential investors.

Here’s a name that has made my sell list for quite some time, but may come as a surprise to you: Nokia (NYSE: NOK) can’t completely bash this company because members of my Blue Chip Growth newsletter actually pocketed a 252% gain when we sold the stock way back in October of 2000. Since that time, the fortunes for this company have changed drastically, though. In the last two quarters, the company has missed estimates and analysts have continued to lower their earnings and sales growth expectations for this company to the point where no one now expects the company to grow this year. Shares have recently bounced slightly after a mighty fall, but I wouldn’t expect any further fireworks.

I love cars and the best part about buying a new vehicle is getting out on the open road with it. If you’re like me, you can’t make a trip without seeing at least a few

Con-Way (NYSE: CNW) trucks. It’s just too bad that ubiquity hasn’t translated into profits for this company in the last 12 months. To its credit, the company did have one shining moment in the first quarter of this year, but a repeat performance anytime soon is unlikely. It can be tempting to want to buy trucking and shipping companies when the market picks up, but for now hold off on buying this stock.

Despite takeover bids flying back and forth over Genzyme (NASDAQ: GENZ), I don’t think you want a piece of this company right now. This is an $18 billion biotech company with a suite of products, but the buyout offers have run the stock up as high as I think they’ll go. I also think GENZ management is being too greedy. The company rejected a buyout offer from French drugmaker Sanofi-Aventis (NYSE: SNY) even though it  recently announced that it has to lay off employees to cut costs. The company is obviously struggling and if it is not careful it could very soon end up with no suitors at all. Even if an acquisition does go through, I doubt you’d get much of a premium for your shares, however. Steer clear of GENZ for now.