DJIA Component Earnings on Deck (AA, INTC, JNJ, JPM, IBM, BAC, GE, C)

Thisis going to be a very key earnings week.  The only DJIA component to report its Q3 period report so far has been Alcoa Inc. (NYSE: AA).  But we have earnings this week coming from six DJIA components: Intel Corporation (NASDAQ: INTC), Johnson & Johnson (NYSE: JNJ), JPMorgan Chase & Co. (NYSE: JPM), International Business Machines (NYSE: IBM), Bank of America Corporation (NYSE: BAC), and General Electric Co. (NYSE: GE).  Citigroup Inc. (NYSE: C) is no longer a DJIA component, but that is still a recent change.

Intel Corporation (NASDAQ: INTC) reports Tuesday after the close and is the first of the tech giants to report.  Estimates are $0.27 EPS and $9.02 billion in revenues; next quarter estimates are $0.34 EPS on $9.5 billion in revenues.  Since the end of June this is up 22.5% and since the March 7 close this is up 63%.

Johnson & Johnson (NYSE: JNJ) is set to report earnings Tuesday morning.  Consensus estimates are $1.13 EPS and $15.18 billion in revenues, while Q4 consensus is $0.98 EPS on $15.51 billion in revenues.  Since the end of June this is up almost 9% and since the March 9 close this is up 34%.

JPMorgan Chase & Co. (NYSE: JPM) reports earnings on Wednesday morning and is effectively the first of the banking giants on deck.  Estimates are $0.49 EPS and $24.8 billion.  Since the end of June this is up almost 34% and since the March 9 close this is up 187%.

Citigroup Inc. (NYSE: C) is up for earnings on Thursday.  It is no longer a DJIA component, but many still consider it a key stock as it is routinely the most active bank stock by far.  Estimates are -$0.21 EPS as of today.  Since the end of June this is up 55% and since the March 9 close this is up over 300%.

International Business Machines (NYSE: IBM) is also on deck Thursday and is expected to post $2.38 EPS and $23.37 billion in revenues.  Estimates for next quarter are $3.38 EPS and $26.68 billion in revenues.  The backlog is paramount and was listed as $132 billion at actual rates on June 30 compared to $126 billion on March 31.  Since the end of June this is up 20% and since the March 9 close this is up 51%.

Bank of America Corporation (NYSE: BAC) is reporting on Friday morning.  The Ken Lewis departure makes getting too bold a hard task here, but shares have held their own.  Estimates are currently -$0.06 EPS on about $27.5 billion in revenues.  Since the end of June this is up 32% and since the March 9 close this is up over 300%.

General Electric Co. (NYSE: GE) will be the first company that gives us a broad read across many industries next Friday.  We have consensus estimates at $0.20 EPS on about $40 billion in revenues.  GE no longer likes to offer detailed guidance, but estimates for Q4 are $0.24 EPS and $42.58 billion in revenues.  GE Capital is the likely focus here as investors are going to be looking for continued profit discussions.  Since the end of June this is up 39% and since the March 9 close this is up 122%.

Any of these estimates may change between now and the earnings dates as analysts make their last minute changes. Some estimates may have already unofficially changed.

JON C. OGG
October 11, 2009