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Bank stocks had run up ahead of the start of the Q4 earnings season, on favorable trends in treasury yields and the market’s Fed expectations.
The pullback in the stocks following the quarterly releases looked like a sell-the-news type of development. But there has been legitimate worries about some of these bank quarterly releases as well. For example, the cost outlook provided by JPMorgan (JPM - Free Report) and Goldman Sachs (GS - Free Report) was higher than consensus estimates, but we didn’t see this issue with Bank of America (BAC) and Morgan Stanley (MS - Free Report) .
This suggests that the cost issue at JPMorgan, Goldman Sachs and a few others may be a result of company specific factors.
The cost issue will be key across different industries in this reporting cycle, as it will determine near- and long-term margin trends.
For more details about the Q4 earnings season and evolving expectations for the coming periods, please check out our weekly Earnings Trends report >>> Big Wall Street Banks Provide Mixed Start to Q4 Earnings Season
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Get the latest research report on GS - FREE
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