Wall Street’s 3 Things to Watch For This Week: Facebook’s New Toys, eBay’s Financials, & the Big Banks Quarterly Earnings
It’s a big week for Wall Street with some rather large story lines set to play out. From the world’s largest social network’s showcasing some shiny new toys, to big earnings reports from some of the world’s largest banks and the top online marketplace. It will be a busy week none the less and here are your three main things to watch out for:
1. Is it time to bank on the bankers? With several of Wall Street’s largest banks set to report their latests quarterly results this week, much anticiaption is surrounding the financials and how they will perform. Due to report are Bank of America (NYSE: BAC) and Citigroup (NYSE: C) who are important snapshots of how traditional banking is holding up in this current economic climnate. Next we have Goldman Sachs (NYSE: GS) and JPMorgan Chase (NYSE: JPM) who will both shed some light on the volatile world of investment banking and how it is in fact performing. Last Friday we got a sneak peak of what’s to come when Wells Fargo (NYSE: WFC) posted reasonable results except to the dismay of some investors who were dissapointed to see that Wells Fargo’s mortgage refinancing business has slowed down.
2. What’s Facebook got to show? Mark Zuckerberg and Facebook (NASDAQ: FB) have some big surprises in store and some new shiny toys they want to showcase in their big company event. Slated for this Tuesday, the Facebook media event has a teaser reading “Come and see what we’re building.” Like you can imagine, there have been plenty of speculation surrounding what in fact Facebook is building. Some say a Facebook phone, others a social search engine, video advertising, expanding Facebook Gifts portal, new ways to shop, new methods to monetize their mobile usage, you name it. The possibilities are endless, and the speculation is at an all-time high. Only time will tell and we know everyone is counting down the clock until tomorrow’s big event.
3. eBay Might Not be as cool but their financial couldn’t be better! While eBay (NASDAQ: EBAY) isn’t as cool as it use to be with many of their regular users shopping and selling tendencies down compared to historical averages that’s not to say that eBay is struggling. While people aren’t fleeing to shop on the world’s largest virtual flea market like they use to, eBay has found its niche as an leading online marketplace for more established distributors to unload their wares. Frankly that’s fine with eBay executives as financially speaking, eBay is as big as its ever been. Not to mention the rapidly growling PayPal platform which has become the number one chosen and trusted financial service choice for many online and even offline transactions. eBay is set to report earnings this Wednesday and so far analysts expect at least a 15% jump from last year.