Wall Street’s consensus estimate for S&P 500 earnings per share is $33.11 in the third quarter. It would be a more than 21% drop from a year earlier.
Third-quarter earnings season kicks off today. As usual, big banks are among the first companies to report. Citigroup (C) and JPMorgan Chase (JPM) go first today, followed by Bank of America (BAC), Goldman Sachs Group (GS), and Wells Fargo (WFC) tomorrow. Morgan Stanley (MS) reports on Thursday.
Delta Air Lines (DAL) and Johnson & Johnson (JNJ) also release results today. Other nonbank companies reporting this week include United Airlines Holdings (UAL) and UnitedHealth Group (UNH) tomorrow, and Walgreens Boots Alliance (WBA) and Intuitive Surgical (ISRG) on Thursday. Friday’s highlights will be Kansas City Southern (KSU) and Schlumberger (SLB). Read more…..
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James Gorman, Morgan Stanley CEO, joins ‘Closing Bell’ to discuss how the market will react if a stimulus deal is not reached and the current state of the U.S. economy.