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Big Banks In The Spotlight As New Earnings Season Begins

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Bank of America Corporation NYSE:BAC, Citigroup Inc. NYSE:C - Big Banks In The Spotlight As New Earnings Season Begins
  • The first-quarter earnings reporting season kicks off this week.
  • Among the first companies to share their results will be the big U.S. banks.
  • Wall Street analysts are looking for shrinking earnings from them.

The new earnings season kicks off this week, and among the earliest to report their first-quarter results will be the big U.S. banks. Judging by the consensus forecasts of Wall Street analysts, expectations are somewhat muted for Bank of America Corp BAC 0.23%, Citigroup Inc C 0.5% and Wells Fargo & Co WFC 0.3%. Not only are shrinking earnings predicted, but earnings expectations have been slipping over the past 60 days or so.

Below is a quick look at what is expected from the reports of these three leading banks, as well as a peek at some of the other companies that also are on tap to post quarterly results this week.

Bank of America

In its report early on Thursday, this North Carolina-based money center bank is expected to say that in the first quarter it had...