It's that time again... Earnings season is kicking off, and who better to get us going than some of the major banks...
The upcoming earnings reports are expected to be a positive catalyst for stocks...
According to Barrons, Goldman Sachs has had a strong pandemic, with its share price surging 67% since last June...
The article stated there is still room to run for the investment bank ahead of its report on Wednesday.
Other names such as JPMorgan Chase are also reporting Wednesday...
In the past week, the investments banks price target has been raised by Barclays to $187 and Jefferies to $177.
Wells Fargo has recently been in the news for its major solar expansion, using 100% of solar energy produced by the Blackburn Solar Project in North Carolina. The bank will be reporting before Wednesdays open.
Refinitiv expects to see earnings growth of 25% for the first quarter, with companies beating estimates so far. The financial sector, according to Refinitiv, is expected to be up 76%... pandemic over for them, it seems?
“Corporate America has really done a good job in the last year of streamlining their operations, their cost structures and everything else. Revenues could come back 50%, and earnings could come back 100%,” said the head of global portfolio strategy at Fundstrat, Brian Rauscher, speaking to CNBC.
Yesterday distributor of medicinal and recreational cannabis, Aphria Inc's stock dropped 14.31% after a wider than expected loss in its report on Monday; yikes😬.
Other companies reporting this week include Bank Of America, Citi, and Truist on Thursday before the open, while Morgan Stanley reports its earnings on Friday.
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