Market Wrap-up for Oct. 21 – A Busy Week for Earnings

Equity markets opened higher once again this morning, following the largest two-day gain for the Dow industrials since February. Bolstering stocks, Apple reported better-than-expected earnings and revenue numbers for the quarter after Monday’s closing bell. The tech giant noted that strong iPhone sales helped drive its 13% quarterly profit growth.

Last week, much of the market focused on financial earnings from megabanks: JP Morgan (JPM), Citigroup (C), Wells Fargo (WFC), Bank of America (BAC), Goldman Sachs (GS), and Morgan Stanley (MS).

This week, investors will once again see a slew of earnings. Below I’d like to highlight a few key reports everyone should keep their eyes on.

Tuesday

After the closing bell, the following companies will be reporting:

Ace Limited (ACE) is expected to report earnings of $2.38 per share. B&G Foods (BGS) is estimated to post an EPS of $0.40. Discover Financial Services (DFS) is slated to report earnings of $1.34 per share for the quarter. Waste Connections (WCN) is expected to post an EPS of $0.54. Wednesday

The following stocks will report their quarterly results on Wednesday:

Abbott Labs (ABT) is slated to report earnings of $0.60 per share for the quarter. AT&T (T) is expected to report an EPS of $0.64. Boeing (BA) is estimated to report earnings of $1.98 per share. Dow Chemical (DOW) is expected to post earnings of $0.67 per share. GlaxoSmithKline (GSK) is estimated to post an EPS of $0.79. Leggett & Platt (LEG) is expected to report earnings of $0.50 per share. U.S. Bancorp (USB) is estimated to report an EPS of $0.78. Thursday

These companies will report their earnings on Thursday:

3M (MMM) is expected to report earnings of $1.96 per share. American Electric Power (AEP) is slated to post an EPS of $1.04. Caterpillar (CAT) is estimated to report earnings of $1.33 per share. Comcast (CMCSA) is expected to post an EPS of $0.70. General Motors (GM) is estimated to report earnings of $0.96 per share. Eli Lilly (LLY) is expected to post earnings of $0.67 per share. Microsoft (MSFT) is estimated to post an EPS of $0.48. T. Rowe Price (TROW)  is expected to report earnings of $1.15 per share. Friday

The following firms will announce their quarterly results on Friday:

Bristol-Myers Squibb (BMY