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Around 140 companies, or 28% of the S&P 500 report results this week. Here are some of the highlights.
Monday: Bank of America reports quarterly results before the start of trading. The Dow component is expected to have earned 5 cents per share versus 23 cents a year ago.
After the close of trade, IBM is expected to report earnings of $1.66 per share, versus $1.65 a year ago.
Other companies due to report Monday include Eli Lilly (LLY, Fortune 500), Halliburton (HAL, Fortune 500) and Texas Instruments (TXN, Fortune 500).
Tuesday: Dow components Caterpillar (CAT, Fortune 500), Coca-Cola (KO, Fortune 500), Merck (MRK, Fortune 500) and United Technologies (UTX, Fortune 500) are all expected to report results before the start of trading. All are expected to report lower quarterly earnings versus a year ago.
After the close, Yahoo is expected to report earnings of 8 cents per share versus 11 cents a year ago.
Other companies due to report Tuesday include Delta Air Lines (DAL, Fortune 500), Lockheed Martin (LMT, Fortune 500), Schering-Plough (SGP, Fortune 500) and Advanced Micro Devices (AMD, Fortune 500).
Wednesday: Wells Fargo is expected to report results before the start of trading. The company forecast a week ago that it will see a profit of around $3 billion. Analysts expect earnings of 41 cents per share versus 60 cents a year ago.
Financial firm Morgan Stanley (MS, Fortune 500) is expected to report results before the start of trading. The company is expected to report a loss of 9 cents per share versus a profit of $1.45 a year ago.
Also in the morning, Dow components AT&T (T, Fortune 500), Boeing (BA, Fortune 500) and McDonald's (MCD, Fortune 500) are due to report results.
Apple releases results after the close of trading. Apple is expected to have earned $1.09 versus $1.16 a year ago.
Thursday: Microsoft reports results after the close. The software leader is expected to report a profit of 39 cents per share versus 47 cents a year ago.
Also after the close, Amazon.com (AMZN, Fortune 500) is expected to report earnings of 31 cents per share versus 34 cents a year ago.
UPS (UPS, Fortune 500), PepsiCo (PEP, Fortune 500), Raytheon (RTN, Fortune 500) and Amgen (AMGN, Fortune 500) are among the other companies due to report results Thursday.
Friday: Dow component 3M (MMM, Fortune 500) is due to report results before the start of trade. 3M is expected to have earned 86 cents versus $1.38 a year ago.
Honeywell (HON, Fortune 500), Schlumberger (SLB) and Xerox (XRX, Fortune 500) are among the other companies due to report quarterly results in the morning.
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Bank of America behoort tot de grootste financiële instellingen van de Verenigde Staten. De bank biedt een breed pakket van financiële diensten aan, maar richt zich in hoofdzaak op particulieren en kleine en middelgrote bedrijven via de divisie Consumer and commercial banking en de divisie Business & financial services. De divisie Capital markets & investment banking is actief met bijvoorbeeld aandelenhandel, beursintroducties en het begeleiden van fusies en overnames. De divisie Wealth & investment management richt zich op private banking en vermogensbeheer. In de afgelopen jaren is de bank sterk geëxpandeerd, onder andere via de fusie met FleetBoston Financial en de overname van MBNA. Door deze consolidatieslagen behoort Bank of America tot de grootste aanbieders van creditcards in de Verenigde Staten.
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yahoo finance boardPeople get angry when they read something they don't want to believe but yet it resonates common sense. The reason I posted is because I think a lot people are being taken for a ride (yet AGAIN) by some of these banks. Some people here are calling for $20!!
What will happen on Monday is anyone's guess. I personally believe the chance to lock in your profits was on Friday at the close or maybe possibly pre-market in Monday. Anything after the announcement is very risky already because there is a lot more downside potential than upside. For example, why stay in the market for a 10% profit AT THE MOST when you have a 30-40% downside risk? I've traded BAC several times and I've been lucky to make money at it. But I am not buying the logic that BAC is going to surprise anyone with their "good earnings" and that is why I went short on Friday.
So believers, you can keep believing in what the company tell you or use common sense and sell/buy accordingly.
Vrijdag aan het einde van de dag toch een daling. Met oplopende werkeloosheid en dalende consumenten uitgaves (slecht voor retail) denk ik dat BAC moeilijk met positieve cijfers kan komen. Maandag dus ook financials omlaag op AEX?
Sell in may and go away. Forget it, we are here to stay.