“Earnings season kicks off tomorrow when aluminum giant Alcoa reports quarterly results.
Although most analysts see Alcoa posting a loss for the period, Bank of America is out with a new list of companies it sees beating both earnings and revenue forecasts.
Current estimates imply earnings growth of 3 percent, and top line growth of 4 percent for the S&P 500.
Lead analyst Dan Suzuki believes extremely low expectations heading into the quarter may give a number of firms a fair runway to beat.
“Tech remains one of our most preferred sectors, and has the highest proportion of stocks on our positive surprise screen for [the first quarter],” Dan Suzuki says.”In terms of growth expectations for the quarter, excluding Financials, Tech and Industrials have the highest year over year earnings growth expectations while Materials, Telecom and Utilities have expected earnings declines.”Twitter