Alcoa earnings after the closing bell on Monday unofficially kicks off the first quarter earnings season. What should investors be expecting from the Dow 30 company earnings? Brent Wilsey, president of Wilsey Asset Management and Craig Peckham, equity trading strategist at Jefferies & Co. shared their insights.
“Three companies I’m concerned about are Boeing , United Technologies and Caterpillar ,” Wilsey told CNBC.
“These companies are not going to benefit early in the recovery that we have," he explained. "I just don’t think these companies are going to move yet or during this earnings season.”
Meanwhile, Wilsey said he expects good results from Johnson & Johnson , JPMorgan and Intel .
In the meantime, Peckham said companies will have a tough bar to clear this quarter as 25 of the 30 Dow stocks beat earnings estimates in the previous season.
“I would expect to see something this quarter that’s in the neighborhood of that in terms of frequency of beats versus expectations,” he said. “We’ve had a great outperformance year to date from the industrials group but one sector that’s lagged behind is technology and would be my preferred sector going into earnings season.”
Peckham told investors to watch Intel and JPMorgan and said he is concerned about McDonald's and AT&T .
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No immediate information was available for Peckham or Wilsey.