CHICAGO, Oct. 13, 2014 /PRNewswire/ -- Zacks.com releases the list of companies likely to issue earnings surprises. This week's list includes Bank of America (NYSE:BAC-Free Report), Google (Nasdaq:GOOGL-Free Report), Intel (Nasdaq:INTC-Free Report), Johnson & Johnson (NYSE:JNJ-Free Report) and General Electric (NYSE:GE-Free Report).
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Q3 Earnings Season Ramps Up
The 2014 Q3 reporting season is underway and we have results from 29 S&P 500 members. The reporting pace accelerates this week, with 127 companies announcing third-quarter results, including 52 S&P 500 members. While the Finance sector is heavily represented on this week's reporting docket, we have enough bellwethers from other sectors to give us a good sense of this earnings season.
Expectations for the Finance sector remain low, with total earnings for the sector expected to be down -3.8% after the +0.9% growth in the preceding quarter. Tough comparison for Bank of America (NYSE:BAC-Free Report) as a result of the bank's Department of Justice settlement is the primary reason for the Finance sector's sub-par growth numbers this quarter. But even adjusting for the BAC shortfall, core banking earnings are expected to be essentially flat in the quarter.
We should see some improvement on the capital markets front, with market volatility helping improve trading volumes and advisory services benefiting from increased M&A and IPO transactions. But volumes in the fixed income, currencies and commodities (FICC) business should still remain below year-earlier levels. Hard to tell whether the persistent FICC weakness of the last few years is a function of cyclical forces or a result of the new more restrictive regulatory landscape, but we should see some modest improvement in FICC revenues this quarter.
For more details on the Finance sector earnings, please click here for the Finance Industry Outlook report.
Beyond Finance, we have plenty of leaders from other key sectors on deck for releasing results this week as well. From Google (Nasdaq:GOOGL-Free Report) and Intel (Nasdaq:INTC-Free Report) to Johnson & Johnson (NYSE:JNJ-Free Report) and General Electric (NYSE:GE-Free Report), this week's reports span the full spectrum of the economy. As such, this week's reports will give us a good sense of what to expect the rest of this reporting cycle.
Given the largely Finance-centric orientation of this week's reports, we wouldn't get that much clarity on the global growth questions that have been dominating the market's attention lately. But we do have other global operators on the docket this week that will shed some light on this issue.
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