An improving credit environment will result in strong earnings from JP Morgan in the fourth quarter that will exceed Wall Street’s expectations for the eighth consecutive quarter.
While Bank of America’s stock has experienced a furious rally since dropping below $3 in March, the stock hasn’t move much at all over the last two months as investors wait to see further signs of improvement.
After easily exceeding Wall Street’s consensus estimates the last two quarters, we expect Citigroup to only marginally exceed the Street’s expectations this quarter.