Analysts are bullish on JPMorgan
The financial services company is expected to show 'modest improvement' in Friday's third-quarter results.
The earnings season is upon us, and JPMorgan Chase (JPM) is the first of the big U.S. banks scheduled to announce third-quarter results Friday. The company's report could set the tone for other financial institutions.
Analysts expect to see earnings of $1.21 per share -- up 18.6% from third-quarter earnings in 2011.
JPMorgan took a multibillion-dollar hit earlier this year after the so-called London Whale derivatives trading losses, but it still exceeded most expectations for the second quarter. JPM shares have risen more than 30% since midyear, and Oppenheimer analyst Chris Kotowski reportedly expects the company to have a slightly stronger third quarter.
"We are modeling the 'special' items to offset any potential hangover from the London Whale incident," Kotowski said in a note to his clients. "We expect another quarter of modest improvement in net charge-offs."
More from Top Stocks
MORE ON MSN MONEY
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
In the never-ending contest for sales, American carmakers are pulling ahead.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.