First-quarter corporate earnings are in full swing this week, with some of America’s largest banks and major streaming companies scheduled to report. More than 35 S&P 500 companies have released their latest quarterly results, including Goldman Sachs, Bank of America, and Morgan Stanley. Netflix is waiting. The reporting period got off to a tough start on Friday. JPMorgan Chase & Co. reported better-than-expected results, but concerns about net interest income weighed on the stock. So far, about 30 S&P 500 companies have reported first-quarter numbers. Of those, 80% exceeded expectations, according to FactSet data. CNBC Pro breaks down what to expect from some of this week’s major reports. All times are Eastern. On Monday, Goldman Sachs is scheduled to release earnings at 9:30 a.m., followed by a conference call at 9:30 a.m. Last Quarter: GS is scheduled to report earnings at 9:30 a.m., thanks to better-than-expected asset management results. The company posted fourth-quarter earnings that exceeded analysts’ expectations. Current quarter: Analysts expect Goldman to report modest year-over-year revenue growth, according to LSEG. What CNBC is watching: The investment bank’s stock falls in its quarterly report after consecutive weekly declines. Can the first-quarter numbers get Goldman back on track? JMP Securities analyst Devin Ryan said earlier this month that the valuation was more attractive than his rival Morgan Stanley. He said he prefers Goldman Sachs. “This view does not negate Morgan Stanley’s business model, but rather that Goldman Sachs’ valuation was temporarily misvalued in the lead-up to an inevitable normalization,” Ryan said. , commenting that valuations already reflect a more normalized earnings profile.” What history shows: Goldman Sachs beats earnings estimates 85% of the time, according to Bespoke Investment Group. However, the stock price has declined on three of the past five earnings days, with one of them falling 6.4%. On Tuesday, Bank of America is scheduled to report earnings before the opening bell. A conference call with management is scheduled for 8:30 a.m. Last Quarter: BAC stock fell after BAC’s fourth quarter profit declined. This quarter: According to LSEG, the Charlotte-based banking giant is expected to report a nearly 20% drop in profits from a year ago. What CNBC is watching: Bank of America stock has struggled recently, falling 5.6% this month as investors lowered their expectations for interest rate repricing. In early April, UBS downgraded BofA from buy to neutral, citing “concerns about the economy and its situation,” although the bank could theoretically make more money with higher interest rates. [held-to-maturity bond] BofA beats revenue estimates 79% of the time, according to Bespoke. Stocks have declined an average of 0.7% on earnings day, but have been up since 9 of the past 10 releases. UnitedHealth is scheduled to report earnings in premarket, followed by a conference call at 8:45 a.m. Last quarter: UNH reported better-than-expected earnings and earnings, but the stock price fell more than 3%. According to LSEG data, the company is expected to see slight increases in profits and sales year-over-year. What CNBC is focusing on: The health insurance company’s stock price has fallen 16% since the beginning of the year in the aftermath of the cyberattack after it released its first quarter results. Lower-than-expected Medicare Advantage premium increases are putting pressure on the Dow Jones Industrial Average, but will the company’s report spark a comeback? What history shows: Bespoke Since the beginning of 2018, UnitedHealth has missed earnings estimates just twice, according to the data. The stock has a history of performing well, rising an average of 0.8% on the day of settlement. Morgan Stanley is expected to release financial results before the deal. A financial results conference is also scheduled for 9:30 a.m. Last quarter: MS revenue beat expectations, but CEO warned of upcoming geopolitical and economic risks. Current quarter: Analysts surveyed by LSEG expect earnings and sales to decline slightly on a year-over-year basis. What CNBC is watching: Morgan Stanley said last week that multiple regulators are investigating how its wealth management division checks customers at risk of money laundering. Morgan Stanley took a hit, suffering losses of more than 6% following the Wall Street Journal report. Investors will be watching for updates on this and how banks respond to the changing interest rate environment. What history shows: According to Bespoke, Wall Street banks earn an average of 0.8% on their closing day. Also, the company has exceeded his revenue estimates 78% of the time. United Airlines is scheduled to release its financial results after the market close. The call is scheduled for next day at 10:30 a.m. Last quarter: UAL reported first-quarter loss due to grounding of Boeing 737 Max 9 aircraft. This quarter: According to LSEG, airline revenue is expected to increase by nearly 9% over the previous year. What CNBC aviation reporter Leslie Josephs is watching: Investors are focused on how much United Airlines can grow in the coming months and years. United Airlines is among the airlines feeling the pain of delivery delays from Boeing Co., which the company blamed on the company’s decision to suspend pilot hiring and place aviators on unpaid leave in the spring. The decision has been made. United Airlines’ recent mechanical problems, including a tire falling off a 777 departing from San Francisco last month, are also under further scrutiny by the Federal Aviation Administration. United Airlines announced in early April that it would postpone two routes related to FAA safety reviews. United Airlines has canceled its investor day to focus on reviewing FAA safety protocols. What history shows: United Airlines has exceeded his revenue estimates for six consecutive quarters, according to Bespoke data. In four of those times, stock prices rose significantly. On Thursday, Netflix is expected to report earnings after the close of trading. A conference call with management is scheduled for 4:45 p.m. Last quarter: NFLX rose 10% thanks to strong subscriber growth and better-than-expected revenue. This quarter: The leading U.S. streaming platform is expected to report more than 50% year-over-year revenue growth, according to LSEG. What CNBC is watching: Netflix stock has been on the rise this year, soaring more than 27%. Oppenheimer analyst Jason Helfstein said the momentum could continue into the first quarter results. He said strong ad-supported subscriptions are expected and that “the tail of paid sharing is longer than originally thought, with only 20% of the 100 million opportunities captured to date.” No,” he said. History shows: According to Bespoke, Netflix beats his revenue expectations 80% of the time. Stock prices average only 0.1% on the day of earnings, but have seen double-digit increases since the last two reports. Procter & Gamble on Friday is scheduled to report earnings before the bell, followed by an 8:30 a.m. call. Last quarter: PG reported better-than-expected earnings as rising prices gave the company a tailwind. Current quarter: According to LSEG, the maker of Ivory soap and Crest toothpaste is expected to see modest profit and sales increases compared to the same period a year ago. What CNBC is watching: Morgan Stanley analyst Dara Mohsenian said Proctor’s performance could be mixed. She said in an April 7 memo that organic sales growth may slow, but added that gross profit margins could be strong. “We are left [overweight] In the long term, PG market share will continue to expand due to strong execution despite weakness [organic sales growth] Weakness in China’s beauty category in the short term, slowing growth in developed market categories due to price slowdown, and prospects for improvement [organic sales growth] “FY24 should benefit from reinvestment as PG is expected to move in FY25 as the short-term Chinese economic downturn wraps around,” the analyst said. In each case at least he 2.6%.
