Earnings Expectations for the Week of July 16

The earnings crunch ramps up this week. The many quarterly reports on the schedule ought to provide a good overview of several sectors, and the feared slump in earnings should make itself felt if it is going to. The financial sector will be highlighted by results from the likes of American Express, Bank of America, Goldman Sachs and Travelers Companies. Intel, Microsoft and Google will be among those representing the tech sector. Consumer goods providers Coca-Cola and Johnson & Johnson, as well as services providers eBay, Southwest Airlines and Yum! Brands, will also take a turn in the earnings spotlight. Look for quarterly reports from General Electric and Schlumberger and many others, too. Here is a quick rundown of what analysts are expecting from some of the week's most prominent quarterly reports. Financial Sector Analysts expect Bank of America BAC, Morgan Stanley MS and insurance giant Travelers Companies TRV to be this week's biggest winners in the sector, at least so far as they are forecast to have swung to profits of $0.14 per share, $0.43 per share and $1.40 per share, respectively, from year-ago losses. Bank of America is expected to post a 72 percent surge in revenues as well. American Express AXP and US Bancorp USB are expected to report year-over-year earnings and revenue growth too. Asset manager BlackRock BLK is predicted to say it had marginal EPS growth but a slip in revenues. That leaves Bank of New York Mellon BK, Capital One Financial COF, Citigroup C and Goldman Sachs GS in the analysts' expected earnings decline column. Capital One is forecast to have the largest drop, more than 31 percent, but it is also the only one forecast to have annual revenue growth in the second quarter. Tech Sector This week, analysts are looking for year-over-year EPS growth of at least 10 percent to from Google GOOG, International Business Machines IBM, Qualcomm QCOM and Verizon Communications VZ, as well as about a 21 percent rise from Yahoo! YHOO. Furthermore, Qualcomm's revenue is forecast to have jumped about 29 percent from a year ago to more than $4.6 billion. Intel's INTC expected $0.52 per share earnings would be a couple of pennies less than a year ago, but analysts have underestimated the chip maker's EPS by a few pennies in each of the past four quarters. Its sales for the quarter are forecast to be about 4 percent higher to about $13.6 billion. Second-quarter earnings from Microsoft MSFT are predicted to have fallen about 10 percent from a year ago to $0.62 per share. Those of data storage device maker SanDisk SNDK are expected to have tumbled even further: more than 83 percent to $0.13 per share. Its sales are predicted to be lower as well. Consumer Goods Sherwin-Williams SHW is the anticipated stand out in this sector this week, with EPS estimated to be more than 21 percent higher year-over-year to $2.12. That is followed by Stanley Black & Decker SWK, with earnings expected to be up about 4 percent to $1.52 per share. Otherwise, analysts believe things will be fairly stable in this sector, with EPS from Coca-Cola KO up a couple of pennies, Johnson & Johnson JNJ up a penny, Mattel MAT down a couple of pennies, and Philip Morris International PM the same as in last year's second quarter. In addition, no wild swings in revenue for the most recent period are predicted for these for companies. Services Analysts predict that second-quarter earnings from Southwest Airlines LUV will have more than doubled from a year ago to $0.32 per share. Those from Union Pacific UNP are forecast to be more than 21 percent higher to $1.96. Yum! Brands YUM, Safeway SWY and eBay EBAY are also expected to report year-over-year per-share earnings growth, as well as revenue growth. Wynn Resorts WYNN and Xerox XRX, though, are forecast to post slightly lower EPS. And newspaper publisher Gannett's GCI are expected to come in about 10 percent lower than a year ago. Revenue estimates for these three companies are slightly lower as well. And Others Consensus estimates for General Electric GE and Schlumberger SLB have their EPS up about 8 percent to $0.37 and 13 percent to $1.00, respectively, from the second quarter a year ago. Both companies are expected to report some revenue growth as well. Abbot Laboratories ABT is expected to post earnings of $1.22 per share, or a dime higher than a year ago. However, EPS from Mosaic MOS and Freeport-McMoRan Copper & Gold FCX are forecast to be more than 20 percent lower than a year ago. Their revenues are predicted to have declined as well.