Bank of America, Morgan Stanley, Charles Schwab Report Tuesday: Earnings Season Heats Up
Portfolio Pulse from Piero Cingari
Bank of America, Morgan Stanley, and Charles Schwab are set to announce their Q2 2023 financial results on Tuesday. The Street consensus predicts an EPS of $0.84 for Bank of America, $1.20 for Morgan Stanley, and $0.72 for Charles Schwab. The Financial Select Sector SPDR Fund ended 0.7% lower on Friday.
July 17, 2023 | 1:07 pm
News sentiment analysis
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NEUTRAL IMPACT
Bank of America is expected to report an EPS of $0.84 in Q2 2023, a 15.1% increase YoY but a 10.6% decrease from Q1 2023. The stock has a YTD return of -12.4%.
The expected increase in YoY earnings could have a positive impact on the stock, but the decrease from the previous quarter and negative YTD return could offset this.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Morgan Stanley is predicted to post an EPS of $1.20 in Q2 2023, a 16.7% decrease YoY and a 29.4% decrease from Q1 2023. The stock has a YTD return of 0.2%.
The expected decrease in both YoY and QoQ earnings could have a negative impact on the stock, despite the slight positive YTD return.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Charles Schwab is expected to report an EPS of $0.72 in Q2 2023, a 25.8% decrease YoY and a 22.6% decrease from Q1 2023. The stock has a YTD return of -30%.
The expected decrease in both YoY and QoQ earnings, along with the negative YTD return, could have a negative impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The Financial Select Sector SPDR Fund ended 0.7% lower on Friday.
The decrease in the fund's value could indicate a negative sentiment in the financial sector, which could impact the stocks within the fund.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50