Today we are watching…
1. Bank of America (#bankamer)
The next of America’s big banks is reporting earnings, teased yesterday by what Goldman Sachs and JP Morgan revealed. Both companies went over and above expectations, even if the low interest rate environment left a stain that would ultimately move JP Morgan lower. Bank of America has spent the quarter shaving off unnecessary costs, and shareholders will see the fruits of that today. Analysts suspect Bank of America will earn $0.70 of profit on $23 billion in revenue.
2. eBay (#ebay)
In yesterday’s newsletter we told you all about eBay’s efforts to keep up with Amazon’s Prime Day, which is now over. The second hand bargain site will give investors an update on how many active buyers it’s earned since last quarter, it’s user base, and of course it’s profits. eBay has been under siege in recent months from Elliot Management, an activist fund who buys controlling interests in companies so they can seize control. Elliot believes spinning off some non-essential parts of the business will boost eBay’s profit per share, charged today with beating estimates of $0.62 on $2.76 billion.