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Traders discuss what to expect from bank earnings

Luqman Adeniyi

The "Fast Money" traders look into the financial sector on Wednesday ahead of the earnings reports from Citigroup (NYSE: C), Wells Fargo (NYSE: WFC), PNC Financial Services Group (NYSE: PNC) and J.P. Morgan Chase (NYSE: JPM) scheduled for Thursday.

Trader Pete Najarian said he likes J.P. Morgan because of the diversity of its business and the company's history with a record performance in the previous quarter.

Trader David Seaburg said he likes J.P. Morgan, as well. He said he's a fan of the bank's CEO, Jaime Dimon, and said expectations are low for the upcoming report, leaving room for the stock to move higher.

Trader Guy Adami said he is looking at Goldman Sachs (NYSE: GS) and likes the stock because of its potential jump following earnings. Goldman Sachs is down 9 percent in the last 3 months.

Disclosures:

Pete Najarian owns calls BAC, BZH, CHK, CLF, DAL, ETP, FB, FSLR, GE, GLD, HAL, HMY, INTC, KMI, MAR, MRO, MPEL, QVCA, SPM, TCK, VALE, XLF, XLNX, ZIOP. Pete is long AAP, AAPL, AMD, BAC, CL, DLTR, DIS, EBAY, EMR, GILD, GM, HAIN, HUM, IBM, INTC, JWN, K, KO,KORS, KMX, LUX, MAR, MDLZ, MOS, MSRT, MRK, RL, TPX, TRN, UNP, V, PFE, WFT.

"Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT.
Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore"

Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM

Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.



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