Looking Forward To More Good News This Week

Last weeks had good news in the banking sector from Wells Fargo and JPMorgan with there 1st quarter surprise profits.

Other good news came with the announcement that the Obama administrations loan modification program is finally underway.

On Wednesday the Treasury Department announced the first six participants to sign up for President Obama's plan. The participants include JPMorgan Chase, Wells Fargo, Citigroup, GMAC Mortgage, Saxon Mortgage Services, and Select Portfolio Servicing.

A spokesman said addtional loan servicers will be added to the list over time.

"We view this modification program as yet another incremental opportunity for thousands of homeowners to preserve and maintain the dream of homeownership," Wells Fargo said in a statement.

Here was what we can look forward to this week:

On Monday: Bank of America will report quarterly results before the opening bell.

After closing IBM is expected to report earnings of $1.66 per share, versus $1.65 a year ago.

Other reporting companies reporting Monday are: Eli Lilly (LLY), Halliburton (HAL), and Texas Instruments (TXN)

On Tuesday: Caterpillar (CAT), Coca-Cola (KO), Merck (MRK, and United Technologies (UTX) are all reporting results before the bell.

After the close Yahoo will report earning.

Other companies reporting include: Delta Air Lines (DAL), Lockheed Martin (LMT), Schering-Plough (SGP), and Advanced Micro Devices (AMD)

On Wednesday: Wells Fargo will officially report results before the bell. As we discussed last week that it will see a profit of $3 billion.

Financial firm Morgan Stanley (MS) is expected to report before the bell.

Other companies reporting in morning are: AT&T (T), Boeing (BA), and McDonald's (MCD).

Apple will release results after closing.

On Thursday: Microsoft will report results after the close. Software leader Microsoft is expected to report a profit of 39 cents per share versus 47 cents a year ago.

Also after closing, Amazon.com (AMZN) is expected to report earnings.

Other companies reporting results on Thursday: UPS (UPS), PepsiCo (PEP), Raytheon (RTN), and Amgen (AMGN).

On Friday: 3M (MMM) will report results before the bell.

Other companies reporting Friday include: Honeywell (HON), Schlumberger (SLB), and Xerox (XRX). The should be reporting in the morning as well.

There is sure to be some mixed results this week. I am keeping my fingers crossed for more good news. Remember good news=good economy.