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17/01/2022 Goldman Sachs in limbo before 4Q Earnings announcement

Authored by TD Markets
2 min

Friday’s Movers

  • Wynn Resorts Ltd (WYNN) was up 8.6% following a gaming law amendment issued earlier in the day.
  • JPM was down 6.15% as Wells Fargo downgraded the bank following the 4th Quarterly report 
  • BYND was down 6%
  • PDD was up 4.84%

Earnings Due:

StockSymbolAnnouncement dateRelease TimeEPS Estimate
Goldman Sachs GroupGS18/1/2022Pre-Market$10.01
Procter & GamblePG19/1/2022Estimated $1.59
Bank of AmericaBAC19/1/2022Pre-Market$0.70
American AirlinesAAL20/1/2022Estimated -$1.03

Stocks to watch:

Goldman Sachs Group (GS)

The bank’s 4th quarterly earnings are set for release during tomorrow’s Pre-Market. Given the expectation out of the earnings report where the market close today will be pivotal for trading the stock tomorrow.

EPS estimate is expected to be $11.88 per share and the Revenue Estimate is expected to come out at $12.08B. Over the last two years, Goldman Sachs has beaten the EPS estimates 63% of the time, and Revenue estimates 75% of the time. 

However JPMorgan and Citigroup bot retraced lower following their 4th quarterly report that was released during the latter part of last week.

From a technical point of view, the price had retraced to the bottom of the channel rejecting the 200day moving average as it holds above. Price has been trading in a sideways range since August of last year as it ranged between $373 and $420. The result is that if the 200-day moving average holds a great buying opportunity might be lining up to take it back to $420.

Authored by TD Markets
2 min
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