It's earnings time again.. This coming week!

I think it's fair to say that there's much trepidation about the earnings season that picks up steam this week. And for better or worse, numbers from the big financials have begun to roll in. Last week we saw profit sink for JPMorgan Chase (NYSE: JPM) and significant losses from Bank of American Corp. (NYSE: BAC), Citigroup Inc. (NYSE: C), and Deutsche Bank (NYSE: DB).

Analysts surveyed by Thomson Reuters expect Bank of New York Mellon Corp. (NYSE: BK) to be among those financials reporting fourth-quarter earnings growth this week. They anticipate that Bank of New York will post a profit of $0.70 per share, compared to $0.67 per share a year ago and $0.72 in the previous quarter. Revenue is expected come to $3.8 billion, about the same as it was a year ago. Bank of New York has fallen short of earnings estimates in two of the past five quarters, by as much as 11.1%. For the full year, analysts are looking for $2.78 per share (+5.8%) on $14.8 billion (+4.2%). The consensus recommendation of analysts is to buy BK, and the long-term EPS growth rate forecast is 10.7%. Shares are 48.7% lower than a year ago. Other financials expected to report quarterly earnings growth this week include SunTrust Banks Inc. (NYSE: STI) and M&T Bank Corp. (NYSE: MTB).

Plenty of financials reporting this week are expected to post lower earnings, including US Bancorp (NYSE: USB), which acquired banks via the FDIC during the fourth quarter. Analysts anticipate that US Bancorp's profit will have fallen 58.5% in the past year to $0.22 per share, while revenues will have grown 7.5% to $3.8 billion. US Bancorp's profit has fallen short of estimates in three of the past four quarters -- by 31.2% in the third quarter. For the full year, the company's profit is expected to be $1.72 per share (-29.2%) on revenue of $14,9 billion (+7.3%). US Bancorp's long-range EPS growth forecast of 7.6% is better than Bank of America's, but still less than the S&P 500. Shares of US Bancorp are trading around the multiyear low of $20.22 from last November, and are down 39.4% from a year ago. Other expected quarterly earnings decliners include Capital One Financial Corp. (NYSE: COF), State Street Corp. (NYSE: STT), TD Ameritrade Holding Corp. (NASDAQ: AMTD), BB&T Corp. (NYSE: BBT), Blackrock Inc. (NYSE: BLK), and Northern Trust Corp. (NYSE: NTRS).

Continued>>>

http://www.bloggingstocks.com/2009/01/18/the-week-in-preview-financials-techs-lead-off-earnings-crunch/print/

and possible layoffs.