Summary
JPMorgan launched the earnings season on a bad note with a big EPS miss.
BlackRock is finally trading at an attractive value. This is a one-time opportunity.
Bank OZK got a big hit on the market after major charge-offs. I bet it's a one-time event.
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One of the very first things I do in the morning after cooking eggs for my children is to watch market news. As we enter the earnings season, I have my eyes on several companies this week. One of them is obviously JPMorgan (JPM) which was among the first companies to declare earnings. Unfortunately, JPM came $0.23 short of consensus estimates for EPS. Although JPM posted record earnings of $7.1B, this was 16% less than last quarter. At the time of writing this article, the market wasn’t opened yet, but I can guess this quarter will not be well received by nervous investors.
This news gave me the idea to scatter financial services to see which companies will declare their earnings later this week and should be a good buy. I’ve noted two interesting picks for very different reasons. Let’s take a look at BlackRock (BLK) and Bank OZK (OZK) and why I think you should buy them before they report their earnings this week.
