Intel Corporation (INTC), CSX Corporation (CSX) and Bank of America Corp (BAC): Earnings Reports and Previews

While Intel Corporation (NASDAQ:INTC), CSX Corporation (NYSE:CSX) have just reported their earnings and Bank of America Corp (NYSE:BAC) is about to do the same thing,  FMHR trader Jon Najarian was with Melissa Lee and Dominic Chu of CNBC and they have earlier discussed about what the earnings report of these companies could have in store for the market. Among the companies from the S&P 500 Index, which have reported their financial results so far, on an average only 13% have met the market estimates. At the same time Over 25% have come in below forecast.

IntelLogo

Intel Corporation (NASDAQ:INTC), CSX Corporation (NYSE:CSX) and Bank of America Corp (NYSE:BAC) are three of different segments and have been performing on a different levels as well.

Intel Corporation (NASDAQ:INTC) was discussed first and this leading chip maker is currently on upside due to the computer upgrade cycle. The PC market has stabilized a bit which means the sales are not going down anymore but just that the companies are able to step up. Najarian thinks  that it’s not just about the PC upgrades, the company is doing good in other segments too, however he said that he is bullish on the PC upgrade cycle too.

The estimated EPS for Q2  is $0.52 which is 34% over what it has been last year and the stock has gained over 22% since the beginning of the year. A total 19 analysts have a ‘Buy’ rating on Intel Corporation (NASDAQ:INTC), while five keep it at “Sell” and 23 have kept it on ‘Hold.’ However, the company has surprised everyone by exceeding the estimates. They have posted $0.55 per share, against an estimate of $0.52.

The next one was CSX Corporation (NYSE:CSX) and this stock is trading at multi year highs consecutively for the second day and it is also the first rail company to report earnings for the last quarter. According to Chu, CSX has performed fairly in line with the overall market this year. However, it has been lagging behind its peers from the same segment on the market so far. CSX Corporation (NYSE:CSX) is the oldest rail transport companies in America and they cover their base well with the transportation of coal.  The company reported an EPS of $0.53, above the last year result of $0.51.

“It often times gives the investors atleast a bit of a taste or sense for what transportation trade could look like,” Chu said.

They also discussed about Bank of America Corp (NYSE:BAC) and Najarian had his target estimates ready for the stock to go bullish or bearish on the stock. He thinks that the stock can move up very quickly if it exceeds its estimates and he kept the next target for Bank of America Corp (NYSE:BAC) at $17.

“I think it is going to be whether or not earnings are 25 cents, bearish or 30 cents, bullish. I will just draw the line there. If it is above 30 I am saying it’s off to the races,” Najarian stated.

Disclosure: None

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!