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US Earnings to Watch: JPMorgan, Wells Fargo, Walgreens, Pepsi

   

   

Photographer: Luke Sharrett/Bloomberg

Third-quarter earnings season kicks off next week with the major US investment banks set to report and provide their outlooks on the economy heading into the end of the year. Overall, companies are expected to beat lowered 3Q EPS estimates despite recession worries, according to analysis by Bloomberg Intelligence. Forecasts are likely to face tough scrutiny as consensus expectations sees the number of S&P 500 sectors in an earnings recession doubling in the second half of the year, with healthcare, technology, materials and consumer staples joining financials and communications firms in posting y/y EPS declines.

Highlights to look for next week: