From NASDAQ MarketSite: 2024-04-14 07:15:00

Several major banks such as JPMorgan Chase, Citigroup, and Wells Fargo reported downbeat first quarter earnings, leading to a significant sell-off in the stock market. The Dow Jones Industrial Average saw its largest weekly loss in over a year, with tech giants like Microsoft, Intel, and IBM leading the decline. Investor concerns about inflation and geopolitical risks continue to weigh on market sentiment.

Bank of America is set to report Q1 earnings on Tuesday, with expectations of 71 cents per share in earnings on $23.45 billion in revenue. Investors will be closely watching the bank’s ability to sustain strong net interest income revenue despite expected declines in interest rates. They will also focus on loan and deposit growth, as well as guidance for the future.

Aluminum giant Alcoa will be reporting earnings on Wednesday, with an expected loss of 52 cents per share on $2.58 billion in revenue. Rising aluminum prices and improving demand from China have boosted the company’s stock by over 30% in the past six months. Analysts will be watching to see if Alcoa can speak positively about future demand and supply outlook to maintain investor interest.

Netflix is scheduled to report earnings on Thursday, with expectations of $4.16 per share in earnings on $8.54 billion in revenue. The streaming giant has seen its stock rise 30% year to date, with analyst forecast expecting further upside. Investors will be looking for positive growth trends, including initiatives to crackdown on password sharing and new content launches, to support continued stock performance.



Read more at NASDAQ MarketSite:: Weekly Preview: Earnings To Watch This Week 4-14-24 (AA, BAC, NFLX)