Earnings Scan: BAC, MS, BBT, BLK, GOOG, COF, MSFT, AXP, IBM, INTC, FLEX
Thursday, January 19, 2022 9:09 AM



The earnings calendar for Thursday is hectic as companies like Morgan Stanley and Bank of America Corp. already reported their results ahead of the opening bell, while many more companies are scheduled to report their earnings either after the opening bell or after the closing bell. Some notable earners are discussed here.

Bank of America Corp. (NYSE: BAC) on Thursday reported its fourth quarter FY 2011 financial results. The bank said that for the quarter net income was $2.0 billion, or $0.15 per diluted share, compared with a net loss of $1.2 billion, or $0.16 per diluted share in the year-ago period. Revenue, net of interest expense, on a fully taxable-equivalent (FTE) basis rose 11 percent to $25.1 billion. For the full year, the company reported net income of $1.4 billion, or $0.01 per diluted share, compared with a net loss of $2.2 billion, or $0.37 per diluted share in 2010. Revenue, net of interest expense, on an FTE basis declined 15 percent to $94.4 billion. BAC is up 5.74 percent to $7.19 a share in the pre-market trading on Thursday.

Morgan Stanley (NYSE: MS) today reported net income of $4.2 billion, or $1.26 per diluted share, from continuing operations applicable to Morgan Stanley for the year ended December 31, 2021 compared with income of $4.5 billion, or $2.45 per diluted share, a year ago. Net revenues were $32.4 billion for the year compared with $31.4 billion a year ago. For the fourth quarter, Morgan Stanley reported net revenues of $5.7 billion compared to net revenue of $7.74 billion in the same quarter last fiscal. The company reported a net loss of $275 million, or $0.15 per diluted share for the fourth quarter FY 2011, compared to net income of $600 million, or $0.41 per diluted share in the fourth quarter FY 2010. MS is trading higher by 4.96 percent to $18.21 a share in the pre-market trading.

BB&T Corporation (NYSE: BBT) on Thursday announced financial results for the fourth quarter FY 2011. The company reported net income available to common shareholders of $391 million, an increase of 88 percent compared to $208 million reported in the fourth quarter 2010.  Earnings per diluted common share totaled $0.55, an increase of 83 percent, compared to $0.30 earned in the fourth quarter last year. For full year, net income was $1.3 billion, or $1.83 per diluted share, compared with net income of $816 million, or $1.16 per diluted share earned in fiscal 2010. Revenue for the quarter were $2.4 billion, up from $2.33 billion in the same quarter last year. BBT is up 0.58 percent to $27.60 a share.

BlackRock Inc. (NYSE: BLK) today reported its fourth quarter FY 2011 net income of $555 million, or $3.05 per diluted share, down from net income of $657 million, or $3.35 per diluted share in the fourth quarter FY 2010. For full year 2011, the company reported earnings of $12.37 per diluted share, up 17 percent from $10.55 per diluted share it reported for fiscal 2010. Operating income for the fourth quarter and full year 2011 was $808 million and $3.2 billion, respectively. The full year 2011 operating margin was 35.8 percent. In the fourth quarter, BlackRock repurchased approximately 618,000 shares. BLK last closed at $187.80 on Wednesday.

Google Inc. (Nasdaq: GOOG) is scheduled to report its fourth quarter FY 2011 financial results after the opening bell on Thursday. Analysts at Wall Street expect the company report earnings of $10.49 a share on revenue of $8.41 billion for the quarter. GOOG is trading higher by 0.69 percent to $637.26 in the pre-market trading today.

Capital One Financial Corp. (NYSE: COF) is also scheduled to report its fourth quarter FY 2011 financial results after the closing bell on Thursday. Analysts at Wall Street expect Capital One to report earnings of $1.56 per share on revenue of $4.11 billion. For the same quarter last fiscal the financial institution reported earnings of $1.52 per share on revenue of $3.96 billion. COF last closed at $49.12 a share.

Microsoft Corporation (Nasdaq: MSFT) is scheduled to report its second quarter FY 2012 financial results after the closing bell on Thursday. Analysts at Wall Street expect Microsoft to report earnings of $0.76 per share on revenue of $20.93 billion. MSFT is trading lower by 0.11 percent to $28.20 in the pre-market trading.

There are few other big companies which will be declaring their financial results after opening bell or after the closing bell today, such as Flextronics Ltd. (Nasdaq: FLEX), Intuitive Surgical Inc. (Nasdaq: ISRG), American Express Co. (NYSE: AXP), Rockwell Collins Inc. (NYSE: COL), International Business Machines (NYSE: IBM), and Intel Corp. (Nasdaq: INTC), among others.

 

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