Investing
Last Friday, investors got their first look at how the country’s biggest banks fared in the fourth quarter of 2021. Judging by their reactions, Wells Fargo deserved a share price boost and JPMorgan deserved to get punished. Citigroup and BlackRock closed lower on Friday, but they avoided the punishment JPMorgan received.
Following Monday’s Dr. Martin Luther King Jr. holiday, Goldman Sachs and Truist reported results before markets opened Tuesday. Truist beat on both the top and bottom lines, while Goldman missed the consensus earnings estimate.
More financial sector results are coming up this Wednesday and the rest of this week, as well as reports from consumer product, industrial, and transportation firms. Before markets open Wednesday, we will hear results from Bank of America, Morgan Stanley, Procter & Gamble and UnitedHealth. It will be a busy week.
We also have previewed four companies set to report after markets close on Wednesday: Alcoa, Discover Financial, Kinder Morgan and United Airlines.
Here are three earnings reports due out before markets open on Thursday.
American Airlines
Over the past 12 months, American Airlines Group Inc. (NASDAQ: AAL) has been the top-performing U.S. airline, and the only one to have a double-digit share price gain. Last week the company said its fourth-quarter revenue would be 19% below its 2019 revenue for the same quarter. That represents an improvement of one percentage point over American’s November estimate. More bad weather and a possible interruption of some flights due to safety concerns resulting from new 5G bandwidth rules could be near-term issues for American and other carriers.
Analysts are cautious on American. Of 22 brokerages covering the stock, 11 have a Hold rating and six more have Sell or Strong Sell ratings. At a recent price of around $18.50 a share, the implied upside…