Happy Columbus Day

Columbus Day is unusual for Wall Street because the bond market is closed yet the stock market is open. I have absolutely no idea why. I believe the Columbus was financed by the original Sovereign Wealth Fund, with actual sovereigns!

Three months ago, I said Intel (INTC) would beat its earnings report and I was right. Then last month, I said Bed Bath & Beyond (BBBY) could earn as much as 70 cents per share. That was a gutsy call since it was well above Wall Street’s expectations. Nevertheless, I was right again.

Now Intel is due to report earnings again tomorrow. The Street’s current estimate is for 50 cents per share, and this time I’m not expecting much of an earnings beat, if any at all. Fifty cents per share sounds about right.

The stock that I think is a good candidate for an earnings beat is JPMorgan Chase (JPM). I hope to post more of my thoughts on that this week. The bank will report earnings on Wednesday. Except for Intel, the earnings reports for the rest of our Buy List won’t start coming in until next week.

Posted by on October 11th, 2010 at 11:31 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.