Friday Matters More

  • JJ Hornblass
  • July 14, 2009
  • 0

Yes, it is very nice that Goldman Sachs & Co. beat analysts’ earnings estimates for its second-quarter earnings, but Goldman is not an indicator of the earnings condition of the financial services sector. Friday will be a better measure of that when Bank of America Corp., BB&T Corp., and Citigroup Inc., not to mention General Electric, all report earnings. Analysts expect $0.24 per share of earnings from BofA; $0.21 per share from BB&T; and a loss of $0.26 per share at Citigroup.

Clear your calendars for Friday. It is going to be an interesting day.

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JJ started the first iteration of Bank Innovation back in 2007, and has been working on it ever since. He also serves as President & Chief Executive Officer of Royal Media, Bank Innovation’s parent. He founded Royal in 1995 and oversees all aspects of the New York-based diversified media company. Prior to forming Royal, JJ was on the editorial staff of American Banker, the daily newspaper, and worked as an editor of a business magazine in Hong Kong. As a reporter and editor, he has won journalism awards from the National Press Foundation, Newsletter & Electronic Publishers Foundation, and the Reader’s Digest Foundation. He has a BS in Economics from Yeshiva University and a Master’s from the Columbia University Graduate School of Journalism. He was also a Fellow at the University of Wisconsin-Madison Graduate School of Banking. He lives in New York City with his wife, two daughters, and son. He counts among his accomplishments one New York City Marathon, two New York City Triathlons and the 2010 Father’s Day 5K, the first race he ever ran with his daughters. He can be reached at or 212-564-8972.

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