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Major Earnings on Deck for the Coming Week (FCX, EBAY, JPM, BAC, C, GS, GE, MS, SLB, INTC, LLTC, XLNX)
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This coming week is going to be the real opening of the floodgates when it comes to earnings season. 24/7 Wall St. has screened through dozens and dozens of coming earnings reports on the calendar and filtered the stocks we see as major movers for the market or for a sector. Here is some basic color ahead of key earnings and we have an abbreviated calendar after the color section that shows the basic earnings preview for each day of the week. The major earnings reports we have coming down the pipe are as follows:
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) as another key materials leader, will give better sector insight after Alcoa earnings the prior week.
eBay Inc. (NASDAQ: EBAY) will be crucial to the internet sector because its shares have become stretched in valuation. It will likely have to beat estimates and raise guidance by our take to keep current holders happy. What about dividends and buybacks with all that cash?
J.P. Morgan Chase & Co. (NYSE: JPM) is the first of the DJIA banking stocks to report and is followed by Bank of America Corporation (NYSE: BAC). Then former DJIA member Citigroup Inc. (NYSE: C) is on deck. After Wells Fargo did not blow the doors off the hinges we would point out yet again that these stocks are all up massively from their lows of the last 18 months and look to be priced for perfection. There is an exception or an out perhaps: what if they can all get back above their book values in 2013 or 2014. Also, what if Citi and BofA get to really start increasing their dividends in 2013?
General Electric Co. (NYSE: GE) will report Friday morning and we expect to get more detailed annual guidance for 2013 and would expect to hear about its planned dividend and buybacks. Schlumberger Ltd. (NYSE: SLB) will also be a better preview for the endless oil services and drillers.
Intel Corp. (NASDAQ: INTC) is the only DJIA technology stock reporting earnings. It is hard to imagine that with weak PC sales and with weak Windows 8 sales that Intel has many great things to say. The upside is that Intel will probably be discussed as a high dividend value proposition for 2013. Other technology and chip sector names reporting are Linear Technology Corp. (NASDAQ: LLTC) and Xilinx Inc. (NASDAQ: XLNX).
We have compiled a brief earnings calendar for the companies which we generally track as important market or sector players. There are many others which have been skipped and these estimates are the Thomson Reuters consensus for earnings per share (EPS) and revenue (R$) abbreviated for millions or billions:
MONDAY, JAN 14
TUESDAY, JAN 15
WEDNESDAY, JAN 16
THURSDAY, JAN 17
FRIDAY, JAN 18
* All earnings estimates are from Thomson Reuters; they can change and may have already changed.
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