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Ahead of Wall Street - January 16, 2013 - Ahead of Wall Street
1/16/2013 9:36:00 AM
Wednesday, January 16, 2013
Earnings growth expectations for the Finance sector as a whole had come down in recent days following the banks' major foreclosure related settlement, with the negative revision particularly pronounced for Bank of America ( BAC ) which experienced a roughly $2 billion negative swing in expected earnings. But the roughly 43% increase in JPM's fourth quarter earnings this morning should help offset some of that weakness. As of this morning, the composite fourth quarter earnings growth for the Finance sector (combining the results that have come out with those still to come) stands at 9.2%. This compares to earnings growth of +23.3% for the sector in the third quarter.
The overall scorecard for all sectors shows a total 36 fourth
quarter 2012 earnings reports as of this morning, with total
earnings growth for this Finance-heavy group of 36 companies at
up +22.8% from the same period last year. Outside of Finance,
total earnings growth for the 36 companies that have reported
results are up only +2% from the same period.
BANK OF AMER CP (BAC): Free Stock Analysis Report
GOLDMAN SACHS (GS): Free Stock Analysis Report
JPMORGAN CHASE (JPM): Free Stock Analysis Report
US BANCORP (USB): Free Stock Analysis Report
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