As Earnings Season Heats Up, U.S. Banks Will Make or Break the Stock-Market Rally
Contrarian Profits (April 13th, 2009) Writes:
Corporate earnings will take center stage again this week as certain financials hope to follow last week’s upbeat announcement by banking giant Wells Fargo & Co. (WFC) with some decent earnings reports of their own.
Goldman Sachs Group Inc. (GS) reports tomorrow (Tuesday), while JPMorgan Chase & Co. (JPM) reports Thursday, and Citigroup Inc (C) reports on Friday.
While the chief executives of several of the largest U.S. banks were quick to announce favorable showings for the first two months of the year, analysts are concerned that the strong showings may not have carried over into March, and that the performances of some of these money-centered banks may disappoint.
Contradictions hit the financials last week as diverse reports about Morgan Stanley (MS) and Wells Fargo brought even more confusion to a sector that
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