Earnings Calendar: More Big Banks on Tap Next Week

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It has gone almost completely unnoticed amid the government shutdown , the debt ceiling, and the start of Obamacare . But third-quarter earnings season began this week.

Alcoa ( AA ) unofficially kicked things off on Tuesday with a solid beat. The aluminum maker produced Q3 earnings of 2 cents per share, a big change from last year's 13-cents-per-share loss. Alcoa shares have risen 5% in the three days since its glowing earnings report.

Wells Fargo ( WFC ) kicked off bank earnings today with record third-quarter profits. The biggest originator of U.S. home loans saw net income increase 13% last quarter despite a slumping mortgage business. Releasing loan loss reserves - as many U.S. banks did last quarter - helped boost otherwise modest earnings.

Fellow big bank JPMorgan ( JPM ) fared much worse, suffering a $9 billion quarterly loss due mostly to high legal costs. Minus those costs, however, the bank managed to beat earnings expectations - as did Wells Fargo.

So that's three major beats in the first week. Let's hope the trend continues next week - even if Wall Street isn't paying much attention to earnings these days. That could change the second the government shutdown ends or a debt deal gets done.

Here are some of the headliners set to report earnings next week, including the remaining big banks:

Tuesday

  • Intel ( INTC )
  • Johnson & Johnson ( JNJ )
  • Coke (KO)
  • Citigroup (C)
  • Yahoo! (YHOO)

Wednesday

  • American Express (AXP)
  • Bank of America (BAC)
  • eBay (EBAY)
  • Pepsi (PEP)

Thursday

  • Goldman Sachs (GS)
  • Google (GOOG)
  • Las Vegas Sands (LVS)
  • Philip Morris (PM)
  • Verizon (VZ)

Friday

  • General Electric (GE)
  • Morgan Stanley (MS)



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Stocks

Referenced Stocks: AA , INTC , JNJ , JPM , WFC

Wyatt Investment Research

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