What to Watch Thursday: Can Intel Deliver a Strong Quarter?
In 'What to Watch on Wall Street' for Thursday January 14, there are two big companies that will show investors how they performed in the latest quarter. Before the opening bell, they'll get financial results from JPMorgan Chase (JPM) and Intel (INTC). When the technology giant reports its fourth quarter earnings, analysts are estimating $0.63 a share on revenue of nearly $15 billion. The top line is expected to grow from a year ago while the bottom line is projected to decline. During the same quarter last year, the company earned $0.74 cents a share on revenue of $14.7 billion. Overall, analysts are bullish as they anticipate another strong quarter. The company has been diversifying beyond PCs and has been investing in wearables, data centers and storage. Mizuho Securities also upgraded the stock to 'buy' from 'neutral' and raised its price target to $37 from $31. Benjamin Stoto, director of research for CNBC's 'Mad Money,' said 'We'll be watching their client computing group, which is their biggest business. It will likely be down again year-over-year, but we want to see if they can continue sequential growth which they did last quarter, which is a positive surprise. We'll also be watching their data center business and their Internet of things--those are the two big growth businesses for Intel.' TheStreet’s U-Jin Lee reports from New York.
