The Week Ahead: Earnings From BlackRock, Netflix, and IBM
We're expecting reports from Bank of America, American Express, Johnson & Johnson, and Procter & Gamble.
Jeremy Glaser: After a rocky week in the market, we're looking forward to a full range of earnings.
We'll hear from more major financial players including Bank of America, Morgan Stanley, American Express, and BlackRock. Analyst Gregg Warren says that it has been a difficult year for U.S. asset managers and that he sees value in BlackRock today and thinks the firm will continue to be able to achieve above average organic growth rates.
Netflix reports on Tuesday. Even with the share price slide, analyst Neil Macker still sees the firm as significantly overvalued.
IBM showed some improvement last quarter, as it posted the best year-over-year growth rate in seven years. Still, Andrew Lange says the firm is still balancing higher growth business and legacy ones, and that will likely weigh on the top line in the midterm.
Strong drug sales have helped wide-moat Johnson & Johnson report steady results. Damien Conover sees shares as fairly valued heading into earnings.
Procter & Gamble is due on Friday. Erin Lash thinks shares as undervalued as the firm looks to boost sales and share in its core categories while working to remove more costs.
Retail sales, housing starts, and industrial production are the highlights of data on tap.
Stay tuned for our take on these stories.
Jeremy Glaser does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.