See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Wells Fargo & Company (WFC) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Wells Fargo & Company (WFC) - free report >>
Are we in an Earnings Recession?
Estimates for the Finance sector have come down, as JPMorgan (JPM - Free Report) , Wells Fargo (WFC - Free Report) and the other banks start coming out with quarterly results from October 15th. Driving this negative revisions trend has been the persistent pressures on banks’ margins, a function of the Fed’s accommodative monetary policy. Other businesses like investment banking and trading have been less than robust as well.
One favorable aspect to Finance’s underwhelming expectations is that it wouldn’t take much to come out with positive surprises, which could serve as a much needed catalyst for these stocks.
Beyond Finance, earnings growth in Q3 is expected to be in negative territory, with the first earnings decline since 2016 at -5.1%. This is keeping the ‘earnings recession’ narrative alive. We don’t think describing this year’s growth challenge as an ‘earnings recession’ is fair, since it primarily reflects tough comparisons. The chart below shows the annual earnings growth picture for the S&P 500 index.
For more details about the Q3 earnings season and the evolving picture for the current and coming quarters, check out our weekly Earnings Trends report.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>