Yahoo Finance Bank of America, Goldman Sachs report - What to know in markets Wednesday
Wednesday will be another big earnings day for some of the largest U.S. banks. Bank of America (BAC), BlackRock (BLK), Goldman Sachs (GS), PNC Financial (PNC) and U.S. Bancorp (USB) are set to report before market open.
So far, it hasn’t been all that rosy for some of the largest U.S. banks, and expectations remain modest on Wall Street. Investors will be paying close attention to loan-growth trends for Bank of America, while Goldman Sachs’s legal woes related to 1MDB will take center stage.
Analysts are expecting Bank of America to have earned 63 cents per share on $22.36 billion in revenue during Q4, and earnings of $4.53 per share on $7.54 billion in revenue for Goldman Sachs. BlackRock is expected to report earnings of $6.28 per share on $3.43 billion in revenue, while consensus estimates for PNC are $2.78 per share on $4.40 billion of revenue. U.S. Bancorp is expected to report earnings of $1.06 per share on $5.73 billion in revenue for Q4.
After the closing bell, Alcoa (AA) and CSX (CSX) will release their Q4 financial results. Analysts polled by Bloomberg are expecting Alcoa to report earnings of 55 cents per share on $3.32 billion in revenue, and earnings of 99 cents per share on $3.12 billion in revenue for CSX.
Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.
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