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2024-04-09

$Citigroup(C)$ $Wells Fargo(WFC)$ $JPMorgan Chase(JPM)$ $Delta Air Lines(DAL)$ 

Three Banks And An Airline Kick Off Earnings Season

Earnings Preview For Week Of April 8, 2024 - April 12, 2024

Earnings season for Q1 2024 kicks off this week with a few big banks and Delta arereleasing results later this coming week. Things kick off with Delta Air Lines (DAL) on Wednesday before the market opens. Friday, Citigroup (C), JPMorgan Chase & Co (JPM), and Wells Fargo & Co (WFC).

Here’s my take on the 3 big banks:

* JPMorgan Chase (JPM): Analysts are projecting earnings of $3.84 per share on revenue of $38.7 billion for Q1 20241. Other analysts forecast earnings of $4.14 per share23.

* Wells Fargo (WFC): Wells Fargo is estimated to report earnings of $1.08 per share on revenue of $20.2 billion in Q1 20241.

* Citigroup ©: There are projections for a sales revenue surge to $41.8 billion, with net income expected to reach $19 billion, promising an enhanced net margin and earnings per share (EPS) of $4.224.

and Delta ✈️

Last quarter DAL shares dropped almost 9% in reaction to earnings, the biggest move in response to earnings since a 10% plus rally in 2013. Often when a stock has an outlier move to this extent, market pricing for options going into the next will be elevated. Opportunities  for option trading in front of DAL’s earnings announcement perhaps?

@Tiger_comments @CaptainTiger @MillionaireTiger @TigerClub @Daily_Discussion @TigerPicks @Tiger_Earnings @TigerOptions 

Hold or Sell? How to Trade This Earning Season?
After most bank stocks had a rough start, both $Taiwan Semiconductor Manufacturing(TSM)$ and $Netflix(NFLX)$ fell over 5% despite significantly exceeding earnings expectations, mainly due to weak guidance from these companies. Tesla and Meta will release earnings next week.
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Comments

  • Barcode
    2024-04-09
    Barcode
    Zacks has this to say:
    Among the big six, Citigroup Inc. C is likely to report on Apr 12. At the time of writing, Citi has a Zacks Rank #3 and an Earnings ESP of -24.27%. This lowers the predictive power of ESP because a favorable Zacks Rank when combined with a negative ESP makes surprise prediction difficult.


    Zacks Rank #3 JPMorgan Chase & Co. JPM is likely to report on Apr 12. It has an Earnings ESP of -0.21%. The stock hails from a top-ranked Zacks Industry (top 37%).


    On Apr 12, Wells Fargo & Company WFC, with a Zacks Rank #3 and an ESP of negative 1.10%, will report earnings results. The combination doesn’t make WFC a good candidate for an earnings beat.
  • cutzi
    2024-04-09
    cutzi
    You raise some interesting points about the upcoming earnings reports.
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