Earnings Expectations For The Week Of October 13: The Crunch Is On

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The new
earnings
crunch is on, and this week brings a good look at state of the big banks, some key technology and Internet players, and others. Expectations are high for the likes of
Goldman Sachs Group IncGS
,
Google IncGOOGL
and
Intel CorporationINTC
. Modest growth on the top and bottom lines is forecast for
Citigroup IncC
,
General Electric CompanyGE
and
Wells Fargo & CoWFC
, but expectations are low for
Bank of America CorpBAC
. Here is a closer looked at what is expected from some of the most prominent quarterly reports scheduled for this week. See also:
Is McDonald's Going Fast Casual?

Big Banks

Citigroup Inc,
JPMorgan Chase & Co.JPM
and Wells Fargo & Co start things off Tuesday morning for the big banks and other financials. Analysts predict JP Morgan will post its earnings per share (EPS) of $1.38, compared to a net loss a year ago. Revenue of $24 billion would be hardly higher than last year. As referenced above, Citigroup and Wells Fargo are expected say EPS were up more than 10 percent to $1.12 and about 3 percent to $1.02, respectively. Revenue growth of at least 3 percent is predicted for both as well. Analysts are looking for EPS of $3.20 on revenue of $7.78 billion when Goldman Sachs Group Inc reports Thursday morning. That would be up from last year's reported $2.88 per share and $6.72 billion. Expectations for
Morgan Stanley Inc
's
MS
report on Friday morning are more modest: earnings of $0.54 (up more than 7 percent) and $8.16 billion in revenue (essentially flat). When Bank of America shares its latest results before the opening bell Wednesday, it will post a net loss of $0.09 per share on revenue of $21.35 billion, if analysts are correct. That would compare to a reported profit of $0.20 per share and $21.53 billion in revenue in the year-ago period. Others forecast to show earnings growth this week include
American Express, Bank of New York Mellon, BB&T, Capital One Financial
and
Northern Trust
. Earnings declines are expected from
Keycorp, Fifth Third Bancorp
and
PNC Financial Services
.

Technology

Intel steps into the earnings spotlight Tuesday after the markets close. The consensus forecast calls for $0.65 EPS and revenue of $14.44 billion, which would be up from $0.58 per share and $13.48 billion in the same period of the previous year. Google's report Thursday afternoon will no doubt be one of the highlights of the week. For its A shares (GOOGL), the forecast calls for EPS growth of nearly 18 percent to $6.54 and revenue up more than 11 percent to $16.59 billion. For the C shares (GOOG), which were created by the stock split earlier this year, earnings of $6.33 per share and revenue of $13.22 billion are expected.
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Advanced Micro Devices, Inc.AMD
and
International Business Machines Corp.IBM
are also scheduled to report late Thursday. For the former, the forecast calls for $0.04 EPS and $1.47 billion in revenue, or essentially the same as a year ago (though results may be overshadowed by what the unexpected CEO change means). The latter is expected to say EPS were up more than 7 percent to $4.32, but on a revenue decline of more than 1 percent to $23.41 billion. When
eBay IncEBAY
reports late Wednesday, look for EPS up more than 4 percent to $0.67 and revenue of $4.37 billion, which would be more than 12 percent higher, relative to a year ago.
Cypress Semiconductor
and
Linear Technology
are also expected to offer earnings growth, but EPS from
SanDisk
will be smaller, if the consensus forecast is accurate. See also:
How To Use S&P 500 Futures To Predict Market Movement

And Others

The forecast for
General Electric CompanyGE
calls for EPS of $0.38 and $36.81 billion in revenue when it shares its results first thing Friday. That would be up from $0.36 and $35.72 billion in the year-ago quarter. Analysts, on average, believe
Johnson & JohnsonJNJ
will say Tuesday morning that its per-share earnings rose less than 6 percent to $1.44 and revenue totaled $18.38 billion, or up more than 6 percent from a year ago. Other anticipated earnings gainers for the week include
Baker Hughes, CSX, Honeywell International, Kinder Morgan, Las Vegas Sands, Netflix
and
St. Jude Medical
. On the other hand, EPS at
UnitedHealth Group
are expected to be the same as a year ago, and earnings declines are forecast for
Mattel, Philip Morris International
and
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Posted In: EarningsNewsPreviewsTrading IdeasBank of AmericaCitigroupEarnings ExpectationsGEGoldman SachsGoogleIBMIntelJ.P. MorganJohnson & JohnsonWells Fargo
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