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

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

The 10 Cheapest Places to Retire Abroad

Top 10 Most Expensive Luxury Cars in the World – 2014

Killer Small Business Ideas

The 50 Best Personal Finance Blogs

Most Expensive Apartments in New York City

Bloodiest UFC Fights Ever Fought

Most Expensive Rum Brands in the World

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!