TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer is keeping a close eye on financial results from Bank of America (BAC) and International Business Machines (IBM) next week.
Analysts expect the Charlotte-based bank to post earnings per share of $0.26 on sales of $19.86 billion for fourth quarter.
During the same quarter a year ago, earnings came in at $0.25 a share on sales of $18.96 billion.
Bank of America reports results on Tuesday before the markets open.
‘Next week is obviously a huge week,’ Cramer said.
‘[Bank of America] is an Action Alerts PLUS name – we’ve been buying at $14 – it seems like all of the bank stocks are going down – and it could go down again, but we really like it.’ The stock traded at about $14.41 a share in midday trading on Friday and is down over 14 percent since the start of the year.
Rival Wells Fargo (WFC) posted fourth quarter earnings of $1.03 a share, eclipsing estimates by a penny.
Wells Fargo is part of the Action Alerts PLUS charitable trust.