Alcoa Inc (NYSE:AA) might have lost its position as part of Dow Jones Industrial Average, but it is still the center of attention for Citigroup Inc (NYSE:C), Goldman Sachs Group Inc (NYSE:GS), and JPMorgan Chase & Co.(NYSE:JPM) investors. With its Earnings Release scheduled for Monday, the company’s financials are expected to provide valuable insights into the economy, especially the manufacturing sector.
In an interview on Bloomberg, Mike Regan tried to sum up the trends in the banking industry during the last quarter to sneak a peek into the door that Alcoa will be opening.
“[…] Alcoa Inc (NYSE:AA) had a tremendous season, the stock up 47 percent last year, but apart from them there are some much more important big names out, mostly are major banks, next week, Citibank, JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Co (NYSE:WFC), Goldman Sachs Group Inc (NYSE:GS) and the outlook is kind of mixed. They obviously benefited from a pretty strong M&A market, towards the end of the year, decent IPO market, but yet they are still haunted by all these legal costs, you know Citigroup Inc (NYSE:C) alone looking at about $2.7 billion in legal costs for the quarter […],” said Regan.
Alcoa Inc (NYSE:AA) being a player in lightweight metals, products and solutions could also give hints at how other sectors within these banking giants performed during the last quarter, for example the loan portfolios, which typically experience a surge in times of greater economic activity which have a direct positive impact on Alcoa’s top line.
JPMorgan Chase & Co.(NYSE:JPM)’s Earnings call is scheduled for 14th January, Goldman Sachs Group Inc (NYSE:GS) on 16th January and Citigroup Inc (NYSE:C)’s Earnings Review will take place on 15th January.
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.