Earnings Calendar: More Big Banks on Tap Next Week

Dividends Investing Markets
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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 (NYSE: 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 (NYSE: 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 (NYSE: 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 (NASDAQ: INTC)
  • Johnson & Johnson (NYSE: JNJ)
  • Coke (NYSE: KO)
  • Citigroup (NYSE: C)
  • Yahoo! (NASDAQ: YHOO)

Wednesday

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

Thursday

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

Friday

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