Welcome to Extreme Investor Network, where we provide you with exclusive insights and analysis on the latest trends in the world of investing. Today, we are excited to dive into the upcoming earnings season, which kicks off this week with some of the biggest U.S. banks slated to report their second-quarter results.
Expectations are high as more than 40 S & P 500 names, including Goldman Sachs, Morgan Stanley, and Bank of America, are set to release their earnings. According to FactSet data, analysts are expecting an 8.8% increase in S & P 500 earnings in the second quarter compared to the same period last year. If this prediction holds true, it would mark the strongest earnings growth since the first quarter of 2022.
Let’s take a closer look at what to expect from some key reports this week:
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Goldman Sachs (Monday): Goldman Sachs is expected to report earnings before the bell, with analysts anticipating a significant increase in earnings per share compared to the year-earlier period. Keep an eye out for any writedowns tied to commercial real estate, as CEO David Solomon faces high expectations due to anticipated rebounds in Wall Street activity.
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Morgan Stanley (Tuesday): Morgan Stanley is set to report earnings in the premarket, with a forecast of more than 30% growth in earnings per share. The new CEO, Ted Pick, is benefiting from a rebound in investment banking fees and high stock values in the wealth management division.
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Bank of America (Tuesday): Bank of America is expected to report a nearly 10% year-on-year decline in earnings per share. Investors will be closely watching how net interest income fares in a period of high rates and rising funding costs.
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United Airlines (Wednesday): United Airlines is set to report earnings after the closing bell, with expectations of a 20% decline in earnings. Analysts will be looking for clues about bookings, expansion plans, and ongoing aircraft delivery delays.
- Netflix (Thursday): Netflix is slated to report earnings after the bell, with expectations of more than 40% growth in earnings per share. Some analysts are wary due to a decline in app downloads during the quarter, but Netflix has a strong track record of beating earnings estimates.
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