{"id":293315,"date":"2020-07-13T06:31:38","date_gmt":"2020-07-12T20:31:38","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/articles\/this-weeks-earnings-session\/"},"modified":"2021-02-19T12:13:40","modified_gmt":"2021-02-19T01:13:40","slug":"this-weeks-earnings-session","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/articles\/economic-updates\/this-weeks-earnings-session\/","title":{"rendered":"Coming Up This Week: Big Banks and Netflix"},"content":{"rendered":"<p><strong>By Deepta Bolaky<\/strong><br \/>\n<img style=\"float: left; width: 20px; padding-top: 4px;\" src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2018\/08\/twitter.png\" \/>\u00a0<a href=\"https:\/\/twitter.com\/DeeptaGOMarkets\">@DeeptaGOMarkets<\/a><\/p>\n<p>The earnings season will kickstart with big banks like JP Morgan Chase, Citigroup, Wells Fargo, Goldman Sachs, Bank of America, Morgan Stanley, and tech stock like Netflix. Investors are probably bracing themselves for a gloomy earnings season. It is unlikely that companies will be able to provide guidance for the near future given the uncertain nature of the economy and the resurgence of the number of coronavirus cases threatening the anticipated recovery path.<\/p>\n<h4><strong>Monday<\/strong><\/h4>\n<p><strong>PepsiCo, Inc (PEP)<\/strong><\/p>\n<p>PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. However, due to social distancing measures that halted many large gatherings or activities such as concerts and sporting events, demand for the company\u2019s products: Food, snack and beverage might have taken a severe hit. The share price of the American multinational corporation has been trading in a relatively tight range in the last few months. As of writing, its share price is currently at $134.50.<\/p>\n<p><em>The Company will issue its second quarter 2020 (ending\u00a0June 13) financial results and other related information on\u00a0Monday, July 13, 2020\u00a0by posting the following materials and links on the company&#8217;s website. Live question and answer session for analysts with Ramon Laguarta, Chairman and Chief Executive Officer, and Hugh Johnston, Vice Chairman and Chief Financial Officer at 8:15 a.m. EDT<\/em><\/p>\n<h4><strong>Tuesday to Thursday<\/strong><\/h4>\n<p>We will see plenty of major US banks reporting their quarterly updates from Tuesday to Thursday. JP Morgan, Citigroup Wells Fargo Goldman Sachs, Bank of America and Morgan Stanley all reported a significant drop in profits in the last quarter. Overall, the banks had made significant provisions for credit losses and saw major declines in asset management revenues. We would expect the banks to make more provisions of loan losses given the ongoing pandemic crisis.<\/p>\n<p><strong>JP Morgan Chase &amp; Co (JPM): <\/strong><em>The company will host a conference call to review second-quarter 2020 financial results on Tuesday, July 14, 2020 at 8:30 a.m. (Eastern). The results are scheduled to be released at approximately 7:00 a.m. (Eastern)<\/em><\/p>\n<p><strong>Citigroup Inc: <\/strong><em>Citigroup will issue its second-quarter results via press release at approximately 8 a.m. (ET) on Tuesday, July 14, 2020. At 10 a.m. (ET), results will be reviewed via live webcast and teleconference.<\/em><\/p>\n<p><strong>Wells Fargo &amp; Co: <\/strong><em>The Company will report its second-quarter 2020 earnings results on Tuesday, July 14, 2020, at approximately 5 a.m. PT (8 a.m. ET). \u00a0The Company will host a live conference call on Tuesday, July 14, at 8 a.m. PT (11 a.m. ET).<\/em><\/p>\n<p><em>\u00a0<\/em><strong>Goldman Sachs Group Inc (GS)<\/strong><\/p>\n<p><em>The Company will host a conference call for its second quarter 2020 earnings results on Wednesday, July 15, 2020, at approximately 9.30 a.m. ET. The financial results will be released at approximately 7:30 am (ET) on the same day.<\/em><\/p>\n<p><strong>Bank of American Corp (BAC)<\/strong><\/p>\n<p><em>The Company will report its second-quarter 2020 financial results on Thursday, July 16. The results will be released at approximately 6:45 a.m. ET, followed by an investor presentation at 8:30 a.m. ET.<\/em><\/p>\n<p><strong>Morgan Stanley (MS)<\/strong><\/p>\n<p><em>The Company will announce its second-quarter 2020 financial results on Thursday, July 16, 2020, at approximately 7:15 a.m. (ET). A conference call to discuss the results will be held on July 16, 2020, at 8:00 a.m. (ET).<\/em><\/p>\n<h4><strong>Thursday<\/strong><\/h4>\n<p>Aside from major banks reports on Thursday, Johnson &amp; Johnson and Netflix will be among the major companies providing their quarterly updates:<\/p>\n<p><strong>Johnson &amp; Johnson (JNJ)<\/strong><\/p>\n<p><em>The Company will host a conference call for investors at 8:00 a.m. (Eastern Time) on Thursday, July 16th to review second-quarter results. <\/em><\/p>\n<p><strong>Netflix Inc. (NFLX)<\/strong><\/p>\n<p>Netflix reported a $5.8billion in revenue with a year-on-year growth of 27.6%. The number of subscribers came was above estimates and more than double its target with 15.77 million paid subscribers. The substantial growth came in March as the lockdown, and social distancing measures forced many more households to join Netflix. However, a lack of high-quality content following the pause in production was one of the main concerns identified in the last earnings report that could impact on revenue and growth.<\/p>\n<p><em>The Company will post its second-quarter 2020 financial results and business outlook on its investor relations website on Thursday, July 16, 2020, at approximately 1:00 p.m. Pacific Time.\u00a0 A video interview with Netflix Chief Executive Officer Reed Hastings, Chief Financial Officer Spence Neumann, Chief Content Officer Ted Sarandos, Chief Product Officer Greg Peters and VP, IR &amp; Corporate Development Spencer Wang will be available at 3:00 p.m. Pacific Time.<\/em><\/p>\n<h4><strong>Friday<\/strong><\/h4>\n<p><strong>Snap Inc. (SNAP)<\/strong><\/p>\n<p>Snap\u2019s user base grew to 229 million daily active users, up by 20% from last year in the last quarter as people were in various forms of lockdown. However, the ongoing uncertainties and the rapidly shifting macro conditions, the company did not provide any expectations for revenue.<\/p>\n<p><em>The Company will hold its quarterly conference call to discuss second quarter 2020 financial results on Tuesday, July 21, 2020 at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).<\/em><\/p>\n<p><strong>By Deepta Bolaky<\/strong><br \/>\n<img style=\"float: left; width: 20px; padding-top: 4px;\" src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2018\/08\/twitter.png\" \/>\u00a0<a href=\"https:\/\/twitter.com\/DeeptaGOMarkets\">@DeeptaGOMarkets<\/a><a id=\"dividends\"><\/a><\/p>\n<p><em><br \/>\nDisclaimer: Articles and videos from GO Markets analysts are based on their independent analysis. Views expressed are of their own and of a \u2018general\u2019 nature. Advice (if any) are not based on the reader&#8217;s personal objectives, financial situation or needs. \u00a0Readers should, therefore, consider how appropriate the advice (if any) is to their objectives, financial situation and needs, before acting on the advice. For more information of trading, check out our <a href=\"https:\/\/www.gomarkets.com\/au\/forex-education-courses\/\">forex trading courses<\/a>.<\/em><a href=\"\/forex-education-courses\/\" target=\"_blank\" rel=\"noopener noreferrer\"><br \/>\n<img src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2019\/02\/Next-Steps-Blog-Bottom-Banner.jpg\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Deepta Bolaky \u00a0@DeeptaGOMarkets The earnings season will kickstart with big banks like JP Morgan Chase, Citigroup, Wells Fargo, Goldman Sachs, Bank of America, Morgan Stanley, and tech stock like Netflix. Investors are probably bracing themselves for a gloomy earnings season. It is unlikely that companies will be able to provide guidance for the near [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2874],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coming Up This Week: Big Banks and Netflix - GO Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gomarkets.com\/en\/articles\/economic-updates\/this-weeks-earnings-session\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coming Up This Week: Big Banks and Netflix - GO Markets\" \/>\n<meta property=\"og:description\" content=\"By Deepta Bolaky \u00a0@DeeptaGOMarkets The earnings season will kickstart with big banks like JP Morgan Chase, Citigroup, Wells Fargo, Goldman Sachs, Bank of America, Morgan Stanley, and tech stock like Netflix. 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