This week nearly 100 publicly traded companies are reporting earnings for the third quarter, 51 are S&P 500 constituents.
Here’s how sector growth stands now, and what names to look out for this week.
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Tuesday, October 14:
JPMorgan Chase (JPM)
After a disappointing second quarter due to weaker than expected trading volumes for fixed income and equities as well as lower mortgage originations, the bank enters the third quarter season with an EPS estimate of $1.45, which would show a year over year increase of 2% on the bottom-line, while the top-line is expecting an increase of 1%. With lending and trading volumes up, revenues for those areas are expected to show an improvement for Q3.
Citigroup (C)
Similar to JPM, weakness in trading volumes and mortgages hurt the bank last quarter. Unlike JPM, Citigroup still has another large $7 billion settlement to pay related to mortgage practices. The EPS consensus from Estimize is $1.18 versus the Wall Street consensus of $1.12, implying a 16% increase, with revenues of $19.1B suggesting a nearly 7% increase.
Wells Fargo (WFC)
The country’s largest mortgage lender which is often seen as a bellwether for the housing market, funded a mere $47B worth of mortgages in the most recent quarter. No questioning this was a disappointing figure, but a marked improvement over the first quarter’s $36B, and a good sign that loan growth was heading in the right direction. Investors will look for that momentum to continue in the third quarter, with current EPS estimates of $1.02 showing a slight increase of 3% and revenues of $21B showing an increase of 2%.
Intel (INTC)
Old tech and semiconductor company Intel has been one of the best performing stocks of the year. Shares of Intel are now trading 23% higher than where they began the year. Intel’s stock got one big bump last quarter when management raised guidance citing strong demand from enterprise customers. This week analysts on Estimize expect Intel to follow up on its strong performance last quarter by reporting in-line with Wall Street expectations for a 12% gain to the bottom line. Analysts on Estimize expect total revenue to come in at $14.471 billion, 7% higher than the total reported in the third quarter of 2013.
