Trading Radar: Markets Banking on Goldman Earnings Minyanville Staff Jul 10, 2009 1:36 pm |
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The most important earnings reports of the week will be from the banks as most of the majors—Bank of America (BAC), Citigroup (C) and JP Morgan (JPM)—will report numbers.
Goldman Sachs (GS) will lead off Tuesday before the bell. The company has been in the news a lot lately, with the Rolling Stone article, record bonuses, program trading thiefs and the CFTC policing derivatives. The company was just upgraded by Bank of America Merrill Lynch to “Buy” from “Neutral” with a price target of $174. The research analyst believes Goldman benefits from the wide bid/ask spreads in the fixed income market and he believes global equity underwriting were strong in the second quarter. Wall Street is expecting the company to report EPS of $3.48 with revenues of 10.6 billion.
Check out the full trading radar below.
Monday, July 13
Economics
02:00 Treasury Budget
Earnings
Before: FAST
After: CSX, NVLS
Auctions
3-Month Bill Auction 1:00 PM ET
6- Month Bill Auction 1:00 PM ET
Tuesday, July 14
Economics
08:30 Core PPI 0.1% cons.
08:30 PPI 0.8% cons.
08:30 Retail Sales 0.5% cons.
08:30 Retail Sales ex-auto 0.5% cons.
10:00 Business Inventories -1.0% cons.
Earnings
Before: GS, JNJ,
After: AIR, ADTN, ALTR, INTC, YUM
Auctions
4-Week Bill Auction 1:00 PM ET
Wednesday, July 15
Economics
08:30 Core CPI 0.1% cons.
08:30 CPI 0.6% cons.
08:30 Empire Manufacturing -5.00 cons.
09:15 Capacity Utilization 67.9% cons.
09:15 Industrial Production -0.6% cons.
10:30 Crude Inventories
02:00 FOMC Minutes
Earnings
Before: ABT, CBSH, GCI, LUFK, MTOX, TXI, WWW, WOR, GWW
After: CTAS, CCK, EWBC, JBHT, STLY, XLNX
Thursday, July 16
Economics
08:30 Initial Claims
09:00 Net Long- Term TIC Flows
10:00 Phildelphia Fed -5.0%
Earnings
Before: BAX, BIIB, BLK, CY, FCS, HOG, JPM, MAR, MTG, NOK, PII, SON,
After: ANGO, ATR, CBST, GOOG, IBM, TPX
Friday, July 17
Economics
08:30 Building Permits 523k
08:30 Housing Starts 530k
Earnings
Before: BAC, BMI, BBT, C, FHN, GE, MAT
After:
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