It’s a holiday shortened week, but there are still some major earnings reports on deck for investors to pore through. Goldman Sachs and Morgan Stanley are the two major names that are scheduled to report. Their results come after mixed numbers last week from banking rivals JPMorgan Chase , Wells Fargo , Bank of America and Citigroup . Wall Street will also get a look this week at the health of the regional banks, when Cleveland-based KeyCorp and PNC Financial in Pittsburgh release their fourth quarter numbers. Data compiled by The Earnings Scout shows the early reporters have had no trouble beating earnings expectations so far. Of the S & P 500 that have posted results, 97% have topped analysts’ bottom-line estimates. However, only 55% have beaten top-line, revenue forecasts. Take a look at CNBC Pro’s breakdown of what’s expected from some of this week’s key reports. Tuesday Goldman Sachs is set to report earnings before the bell, followed by a conference call at 9:30 a.m. ET. Last quarter: GS reported earnings that beat analyst expectations thanks to strong revenue from bond trading . This quarter: Analysts expect Goldman’s earnings and revenue rose slightly from the year-earlier period, according to LSEG. What CNBC banking reporter Hugh Son is watching: “Goldman Sachs is likely to post writedowns on commercial real estate and equity stakes, as well as severance charges tied to layoffs. But what matters is guidance on the advisory pipeline: how much pent up demand for M & A deals do they expect this year?” What history shows: Goldman exceeds earnings expectations 85% of the time, data from Bespoke Investment Group shows. However, the stock has fallen on three of the last four earnings days, including a 6.4% drop after the bank posted its fourth quarter 2022 results. Morgan Stanley is also set to report earnings in the premarket. Management is slated to hold a call at 8:30 a.m. ET. Last quarter: MS shares were under pressure because of disappointing wealth…
2024-01-15 09:04:00
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