Earnings Expectations for the Week of October 17

The earnings season ramps up this week. Tech giants Apple AAPL, Microsoft MSFT, Intel INTC and IBM IBM are scheduled to share their third-quarter results, as are big banks including Bank of America BAC, Citigroup C, Goldman Sachs GS, Morgan Stanley MS and Wells Fargo WFC. Others on deck to release their results this week include Coca-Cola KO, General Electric GE and Johnson & Johnson JNJ. Here is a day-by-day rundown of some of the most anticipated quarterly reports of this week. Monday Citigroup C and Wells Fargo WFC are among Monday's highlights. Analysts are looking for the former to report that per-share earnings rose 14.6% year over year while revenues fell 7.2% to $19.3 billion. Wells Fargo is forecast to post per-share earnings that are 16.7% higher, but revenues that are 3.2% lower than a year ago, or $20.2 billion. Halliburton HAL and IBM IBM are expected to post strong third-quarter results Monday as well. The forecast for the oil and gas services giant calls for per-share earnings 36.9% higher than a year ago on revenues also 36.9% higher. Big Blue is expected to report that per-share earnings rose 12.4% higher, while revenues increased 8.2% to $26.3 billion. The day's other anticipated earnings gainers include Hasbro HAS and Stanley Black & Decker SWK. Lower earnings are expected from newspaper publisher Gannett GCI. Tuesday Apple's AAPL third-quarter results will be the highlight on Tuesday. The forecast calls for earnings of $7.28 per share and revenues of $29.5 billion. That is up from $4.64 per share and $20.3 billion in the same quarter of last year. The EPS forecast has risen over the past 60 days, despite the news of the death of founder Steve Jobs, but Apple has easily topped consensus estimates in the past few quarters. Intel INTC, another leading tech company, also reports results on Tuesday. Analysts are looking for strong third-quarter results from this semiconductor maker as well. Other quarterly reports of note on Tuesday are those from consumer goods giants Coca-Cola KO and Johnson & Johnson JNJ. Analysts expect the Atlanta-based beverage maker to report that per-share earnings rose 9.8% from a year ago but that revenues jumped 42.7% to $12.0 billion. And the leading health care products company is expected to say that per-share earnings slipped a couple of pennies from a year ago, but that revenues are 6.9% higher. Earnings growth is expected from CSX CSX and Harley-Davidson HOG as well, while earnings are expected to have slipped for Bank of America BAC, UnitedHealth Group UNH and Yahoo! YHOO. Goldman Sachs GS is expected to post a loss for the quarter. Wednesday Here is a peek at what analysts expect to be some of the day's anticipated top earnings winners:
  • Morgan Stanley MS: EPS up 83.3% to $0.33
  • Wynn Resorts WYNN: EPS up 66.9% to $1.18
  • Comerica CMA: EPS up 37.7% to $0.53
  • Noble NE: EPS up 37.1% to $0.54
  • US Bancorp USB: EPS up 26.2% to $0.61
  • eBay EBAY: EPS up 16.7% to $0.48
  • Western Digital WDC: EPS up 12.5% to $0.96
  • Abbot Laboratories ABT: EPS up 10.3% to $1.17
  • United Technologies UTX: EPS up 10.3% to $1.45
American Express AXP, E*Trade ETFC and St. Jude Medical STJ are also expected to report earnings growth. Lower earnings are predicted from Apollo Group APOL, Bank of New York Mellon BK, Freeport McMoRan Copper & Gold FCX, SuperValu SVU and Travelers TRV. But AMR AMR, parent of America Airlines, is expected to post another net loss. Thursday Analysts anticipate solid results from AT&T T and Microsoft MSFT: per-share earnings are forecast to be 9.8% higher year over year for the former and 8.8% higher for the latter. However, revenues for AT&T are forecast to be about the same as a year ago, or $31.6 billion, while those for Microsoft are expected to be 6.5% higher. Microsoft has topped consensus EPS estimates in recent quarters, while AT&T's earnings have been largely in line with expectations. Chipotle Mexican Grill CMG, Danaher DHR, McGraw-Hill MHP, Phillip Morris PM and Union Pacific UNP are also expected to report earnings growth on Thursday. Earnings are predicted to have slipped for Altera ALTR Boston Scientific BSX, Capital One COF, Chubb CB and SanDisk SNDK. Friday General Electric GE is anticipated to bring a close to the week with mixed results: per-share earnings about three cents higher year over year and revenues down nearly 3%. Note that analysts have underestimated GE's earnings in recent quarters by as much as a nickel per share. Also look for Honeywell International HON, Schlumberger SLB and Verizon VZ to reported earnings growth on Friday.
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