JPMorgan Stock Stuck in Neutral Ahead of Earnings
Dow component JPMorgan Chase & Co. (JPM) fires the opening shot of first quarter earnings season in Friday’s pre-market, with the banking giant expected to report earnings per share of $2.29 on $27.7 billion in revenues.
The bank beat expectations in the fourth quarter but missed on revenues, with Wall Street analysts once again overestimating the impact of U.S. economic strength on the banking sector.
Big Banks Kick Off Earnings Season With JP Morgan
Q1 earnings season is kicking off this week with JP Morgan, Wells Fargo and Citigroup set to report before the open on Friday, April 13.
On a broader level, business conditions have been good for many of the banks. Economic growth in the U.S. and abroad has accelerated in recent quarters, U.S. tax reform was passed, interest rates have ticked higher, and Congress and regulators continue to work on deregulating aspects of the financial industry.
When JP Morgan reports, it is expected to report adjusted EPS of $2.28, up from $1.54 in the prior-year quarter, on revenue of $27.5 billion, according to third-party consensus estimates. Between tax reform and other factors, estimates are high for JP Morgan.
Trading Lesson of the Day
Stocks to Trade Friday Edition 4-13-18
Bullish Momentum: WYNN, INTC, NOV, BHGE, CAR, SLCA
Bearish Momentum: momo, yndx, lb, well, cah, len, tsla, cbs
Double Normal Volume: CBI, YNDX, HLT, CLDR, FAST
Inside Days: ebay, nflx, aal, tjx, ual, jci, low, azn, apa, hd, mchp, cci, bidu, trip
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