Financials expected to post earnings declines, losses this week


After the implosion of IndyMac Bancorp (NYSE: IMB) and news of the deterioration of Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) last week, there's bound to be a certain level of trepidation as the earnings crunch begins this coming week and many big financial companies report. Here's a look at what Wall Street was expecting (see The week in preview: Expectations as the earnings crunch begins for expectations of other reporting companies.)

Analysts surveyed by Thomson Financial are expecting the following of companies to report lower earnings when compared to the same period of the previous year.

Some financial companies are expected to report that they swung to a loss in the past quarter:

But not all is doom and gloom. Analysts are expecting earnings growth from a few financials.

Given the key role that big banks have played in the downturn of the economy, as well as frequent discouraging market news, analysts' sentiment about the sector is probably no real surprise. The important question is whether the companies above can top these expectations. A few positive surprises could go a long way toward soothing some frayed nerves. Do you think that's likely to happen?

For a more encouraging look at expectations for nonfinancial companies reporting this week, see The week in preview: Expectations as the earnings crunch begins.

Visit AOL Money & Finance for more earnings coverage.

[Updated to add Merrill Lynch.]

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