Apr 09, 2018 Guest(s): Kevin O'Leary
Corporate-friendly government policies will lead to an upside surprise in first quarter earnings that will blow investors away, this according to Shark Tank star, Kevin O'Leary.The U.S. earnings season kicks off this Friday with three major banks, JPMorgan, Citi Group, and Wells Fargo, on tap to release their corporate numbers. The biggest factor that will drive earnings this quarter is the government's historic tax cuts passed in December, which took effect in January, O'Leary said."All of the companies in the Russell 2000 that used to pay 31% corporate tax rate now pay 21%, so the cash flows are going to increase dramatically, not just this quarter, for the next two years," O'Leary told Kitco News on the sidelines of the "Three Sharks In A Castle" symposium.