The Banking sector will remain in focus as Citigroup Inc. (NYSE: C), Bank of America Corp (NYSE: BAC) and PNC Financial Services (NYSE: PNC) are set to announce their earnings Thursday, January 17th.
Along with financial institutions, other large firms, such as Intel Corporation (NASDAQ: INTC) and BlackRock Inc. (NYSE: BLK) will garner major investor attention. In fact Thursday will be the biggest day so far in earnings season.
Here’s our round up of the most important companies reporting.
Last year was a banner year for hedge funds in general, as the industry attracted $31 billion worth of net inflows, according to data from HFM. That total included a challenging fourth quarter, in which investors pulled more than $23 billion from hedge funds. HFM reported $12 billion in inflows for the first quarter following Read More
Bank of America Corp (NYSE: BAC): One of America’s biggest and most visible banks, will announce its earnings bright and early at 7 am EST on Thursday. The bank is expected to announce earnings per share of 19 cents on revenues of $20.6 billion.
In the same period last year, the company announced earnings of 15 cents per share. The firm’s revenues in the fourth quarter of 2011 were $24.9 billion. If Bank of America manages to stay in line with analysts estimates for the fourth quarter, it is expected to record earnings of 79 cents per share for the full year 2011.
Bank of America Corp (NYSE: BAC) earned just 1 cent over the full year 2011, analysts had expected the company to announce higher results. The firm also released earnings below the expectations of analysts in 2010. Bank of America Corp (NYSE: BAC) is expected to record revenues of $86.9 billion for the full year.
BlackRock Inc. (NYSE:BLK): The world’s largest asset manager is expected to report earnings per share of $3.67 for the fourth quarter of 2012. The company has been on a roll in recent quarters, posting positive earnings surprises, and earnings increases, in several successive quarters. In the same period last year BlackRock Inc. (NYSE: BLK) announced earnings of $3.06.
The firm is expected to announce revenues of $2.5 billion for the period. In the last three months of 2011, BlackRock Inc. (NYSE: BLK) announced it had taken in revenues of $2.2 billion. For the full year, BlackRock Inc. (NYSE: BLK) is expected to announce earnings of $13.39 per share on revenue of $9.3 billion.
BlackRock Inc. (NYSE: BLK) is one of the world’s most successful investment managers. The company’s growth in the last couple of years has been exceptional, but, as with any investment manager, performance numbers can turn around quickly. BlackRock Inc. (NYSE: BLK) has a propensity to surprise investors, that alone makes it an interesting report. BlackRock will announce its earnings before the market opens on Thursday.
PNC Financial Services (NYSE:PNC): Another big financial player, PNC Financial Services (NYSE: PNC), will announce its fourth quarter earnings before Thursday’s market open. The company is expected to announce earnings per share of $1.60 on revenues of $4 billion.
Those numbers, if reached by the company, will pin its full year 2012 earnings per share at $5.92. The firm’s revenues for the full year will come in at $15.4 billion, if it meets analysts expectations. In the last three months of 2011, the company announced earnings per share of $1.39, on revenues of $3.5 billion.
PNC Financial Services (NYSE: PNC) earns most of its income from retail banking, and its revenue growth, an expected 14%, demonstrates the financial sector’s recovery. The company’s stock saw very little growth in 2012, increasing in value by just over 1%.
Intel Corporation (NASDAQ:INTC): Intel Corporation (NASDAQ: INTC) is expected to earn 49 cents per share for the last three months of 2012. The company earned 68 cent per share in the same three months of 2011. Full year earnings for 2012 are expected to come in at $2.21.
Analysts expect Intel Corporation (NASDAQ: INTC) to show revenues of $13.5 billion in the fourth quarter. The company brought in $13.9 billion in the last three months of 2011. Full year revenue for 2012, if the company hits analysts expectations, is expected to come in at $53.4 billion.
The processor market has changed in recent years, and according to some industry professionals, Intel has failed to keep up. The company’s 2011 earnings came in at $2.53 per share, on revenue of $54 billion. The company is pushing a lot of money into research and development, as it seeks to meet its competitors strides in mobile processing.
Analysts expect that Intel will have a difficult 2013 ahead. Its mobile computing segment is just starting to add market share. The firm’s stock fell by 15% in 2012; however, prices have shown a modest recovery in the early part of 2013.
UnitedHealth Group Inc. (NYSE: UNH): United Health Group Inc. (NYSE: UNH) is expected to earn $1.32 per share when it announces results before the market opens on Thursday. The firm, which operates healthcare operations throughout the industry, earned $1.17 per share in the same three months in 2011.
The firm’s revenues are estimated to be $25.7 billion for the fourth quarter of 2012. In 2011, the company took in $24.03 billion in the same quarter. The firm’s stock price increased by around 7% in 2012. UnitedHealth Group Inc. (NYSE: UNH) is expected to have a big year in 2012.
The introduction of the health care laws introduced by Barack Obama’s administration are expected to increase demand for health care products. UnitedHealth Group Inc. (NYSE: UNH) is expected to reap major benefits as a result of the increase in demand.