U.S. Stocks To Watch This Week

Banks Are Set To Present Their Quarterly Results

Finally, the market will have to digest actual results of the U.S. companies instead of relying on various forecasts.

JPMorgan is set to report its first-quarter results on Tuesday, April 14, before market open. While traders and investors will look for the first signs of the coronavirus crisis impact on bank’s profitability, they will also focus on bank’s comments about the future.

Earnings estimates have been trending to the downside for many weeks now, and the market needs some kind of guidance to estimate how much damage to earnings should be expected this year.

Other banks will also report their results this week. Wells Fargo earnings report will be published on Tuesday, April 14, before market open. Bank of America, Morgan Stanley and Citigroup will report their results on Wednesday, April 15, before market open.

First News From The Oil Industry

Most oil stocks have been crushed this year due to huge downside on the oil price front. Now that major oil producers have agreed to a historic oil production cut, it’s high time to look at the results of individual companies.

Oil services firm Schlumberger will report its first-quarter results on Friday, April 17. Schlumberger is a great gauge of oil producer activity all around the world, so the company’s results will be closely watched by many investors.

Schlumberger is expected to repord a profit of $0.26 per share, and the analyst estimates stay in the positive zone for the full year. While earnings estimates have been falling steadily as the current crisis unfolded, it remains to be seen whether all negative developments have been included in analyst forecasts.

The Safe Haven Status Of Johnson & Johnson Will Be Tested

Diversified bellwether Johnson & Johnson is set to present its results on Tuesday, April 14, before the market open. during the current crisis, Johnson & Johnson shares served as a safe haven asset just like Amazon shares.

As a result, Johnson & Johnson stock is down less than 5% year-to-date. Earnings estimates for Johnson & Johnson first-quarter performance did not suffer much downside, and the company is expected to report a profit of $1.98 per share.

The management’s comments during the earnings call are of special interest due to the company’s presence in so many markets. Together with banks, Johnson & Johnson will surely set the tone for the whole week.