Zacks Earnings Trends Highlights: Micron, Nvidia, Alphabet, JPMorgan, Citigroup and Wells Fargo Zacks Equity Research Thu, October 8, 2026 at 2:07 AM EDT 5 min read GOOG +0.81% MU +4.06% NVDA -0.74% WFC -1.53% JPM -0.51% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Chicago, IL – October 8, 2026– Zacks Director of Research Sheraz Mian says, "The growth momentum is broad-based, with 15 of the 16 Zacks sectors expected to enjoy positive earnings growth and the outlook steadily improving."
Note: The following is an excerpt from this week's Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>
The overall setup for the Q3 earnings season remains very favorable, with earnings growth expected to be in the double digits for the 8th consecutive quarter. The growth momentum is broad-based, with 15 of the 16 Zacks sectors expected to enjoy positive earnings growth and the outlook steadily improving.
Total S&P 500 earnings in Q3 are currently expected to increase +24.6% from the same period last year on +11.5% higher revenues.
The revisions trend remains positive, sustaining the favorable revisions trend that has been in place for a year now. Since the start of Q3, earnings estimates have moved higher for half of the 16 Zacks sectors. We are seeing a similar trend for Q4 and full-year 2027 as well.
Micron MU and Nvidia NVDA continue to be material contributors to the Tech sector's growth picture. Excluding Nvidia, Micron, and Alphabet GOOGL, which enjoyed an outsized gain in the preceding period, Q3 earnings for the rest of the Tech sector would be +20.7% (vs. +43.4% otherwise).
JPMorgan JPM, Citigroup C and Wells Fargo WFC will kick off the Q3 reporting cycle for the Finance sector on Tuesday, October 13th. These bank stocks have lost ground lately in reaction to rising Treasury yields.
Over the last three months, when Treasury yields spiked higher, JPMorgan and Wells Fargo shares lost -0.3% and -6.2%, lagging the S&P 500 index's +4.2% gain. We should keep in mind, however, that estimates for JPMorgan modestly increased, while those for Wells Fargo largely remained stable over this three-month period. Q3 estimates for the Finance sector as a whole increased since the start of the period.
Higher interest rates are generally seen as beneficial for these banks, but spiking yields of the type we have been experiencing are negative for these banks from several angles, ranging from causing paper losses at their available-for-sale bond portfolios to squeezed net interest margins through surging deposit betas and generally negative effects on credit demand and credit quality.
Trading volumes have remained very strong in recent quarters, but mid-quarter updates from management teams suggest that they will be below the levels seen in the preceding period. Negative developments in the treasury bond market have also clouded the outlook for deal flow, with several high-profile IPOs delayed as a result. It will be interesting to see how management teams, particularly JPMorgan's leadership, will describe the operating environment on their earnings call next week.
For the sector as a whole, Q3 earnings are expected to increase by +3.4% from the same period last year on +6.3% higher revenues, which would follow the sector's +22.4% earnings growth on +13.2% higher revenues in the preceding period.
We have been showing here how Q3 estimates moved higher since the quarter got underway.
As is the case with estimates for 2026 Q4, estimates for full-year 2027 are also moving higher.
Since the beginning of July, estimates for 2027 have increased for 10 of the 16 Zacks sectors, with Tech, Energy, Finance, and Industrials leading the way.
We will see how this revisions trend evolves as companies report Q3 results and share updates on developments in their businesses.
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Wells Fargo & Company (WFC) : Free Stock Analysis Report
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Micron Technology, Inc. (MU) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
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