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A few of the leading US companies are expected to release their earning report during the week. These companies include;
JPMorgan Chase & Co (NYSE:JPM), Yum! Brands, Inc. (NYSE:YUM), Alcoa Inc (NYSE:AA), Costco Wholesale Corporation (NASDAQ:COST) and Wells Fargo & Co (NYSE:WFC).
21 out of the total of 500 S&P companies have already released their third quarter’s financial reports. It is expected that within this week 33 more companies will release their quarterly financial reports, out of which 10 are S&P companies.
For the past six quarters, JPMorgan consistently has shown great financial results that exceeded most of the financial analysts’ expectations. However, the recent regulatory and litigation issues might affect this quarter’s reports, but it is expected that the company’s major earnings will still be impressive. In the premarket JPMorgan Chase & Co’s shares had a down fall by -0.89% ($52.20), whereas the last session showed the value at $52.67.
Alcoa might disclose its third quarter’s financial report on Tuesday’s market close. Because of aluminum’s low prices, the announced revenues are expected to be lower.
Deutsche Bank has downgraded Alcoa to “Sell” from “Neutral” with a $5.50 target share price. According to analysts, the company might go down by another 9% from its current standings.
Aircraft manufacturers have increased their demand of metal by 7% in the current year, as a result of which FactSet analyst believes that $5.67 million revenue is expected. In the premarket Alcoa saw a decrease in its shares by -0.88% ($7.89), whereas it closed at a value of $7.96 in the last session.
It is expected that Yum! Brands will also announce its financial report on Tuesday, which is expected to be outstanding. Restaurant’s 50% revenue is from its Chinese market. As per The-Street estimate, it also saw a decrease in the quarter of same-store sales by 20% in July.
Costco Wholesale will announce its report on Thursday, whereas Wells Fargo & Co and some other companies will announce their financial reports on Friday.