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Q3 '17 Earnings season guides. #BAC #C #JPM #WFC #NFLX

Kristin Alonzo

10-Oct-2017 09:01 AM

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Fall is here, so does Q3 earnings seasons begin.  Largest banks will commence earnings season later in the week and next.  U.S. Major index across the board is currently at overbought territory.  Makes you wonder if there is room for rally on an earnings surprise beat or is it priced in?  No one knows

 See charts below and notable option interest:

  • BAC  notable option  Dec. 26C (calls) x 29k
  • C price target raised by Credit Suisse on 10/9,  $83 from $73.  Options ->  Jan 80C (calls) x 13.3k volume @ 1.34
  • JPM  price target raised by Credit Suisse on 10/9,  $110 from $103.
  • WFC  notable option  Dec. 50P and 57.5P  (puts). x4.5k

Per Factset Data  Q3 earnings expectation for S&P 500:

  1. Earnings  growth rate is +2.8%;   

  2. Sales  growth rate  +4.9%

  3. Sales growth  +7.9% . companies with more than 50% sales outside of U.S.

  4. Sales growth  +7.7% of companies with less than 50% sales outside of U.S.

Per data above from FactSet, we can see it happening on #NFLX as more than 50% of its sales/subscribers are outside U.S.  Analysts noted last week that NFLX Q3 subscriber trend is higher than expected, their index growth is at 16% vs. consensus of 10.7% growth. Last week, Netflix announced $2 hike on premium subscription.

*Data is from Q2 2017 last earnings*.NFLX chart:

Thanks for reading and wishing you a succesful Q3 earnings trade!  Please share your thoughts.

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