Category: Economy / April 17, 2013 4:51 PM EDT
Disappointing earnings sparked a broad sell-off on Wednesday as Bank of America Corp. (NYSE: BAC) reported first-quarter results that fell well short of analyst forecasts.
U.S. stocks fell after disappointing earnings reports prompted traders to pull out of riskier investments.
After the market closes on Wednesday, American Express Co. (NYSE: AXP) and EBay Inc. (NASDAQ: EBAY) will report results.
The credit card company is expected to report improved earnings and revenue for the first quarter, helped by growth in card loans, while EBay Inc. is forecast to post strong gains.
Earnings reports to watch for on Thursday before the session opens include Morgan Stanley (NYSE: MS), PepsiCo Inc. (NYSE: PEP) and Verizon Communication (NYSE: VZ).
Morgan Stanley is projected to post upbeat results, while PepsiCo is expected to report modest gains.
Verizon’s earnings are influential as the results could give clues as to how well Apple and other smartphone companies are selling.
After the bell on Thursday, Google (NASDAQ: GOOG) and Microsoft (NASDAQ: MSFT) are two big reports to watch for as Google is expected to continue its upward momentum while the world largest software company is expected to report a 13.3 percent profit increase for the third quarter.
Jessica Menton, reporting for IBTimesTV.
(Video Source: REUTERS)