Some of the companies reporting results in the upcoming week are more likely than others to see their stocks get an earnings-powered boost. Fifteen percent of the stocks in the S & P 500 — or 76 names in the index — are due to report results in the coming days, including big media companies and travel and restaurant stocks. Despite some disappointments from the megacap tech companies, the earnings season has overall been positive. Seventy-eight percent of S & P 500 companies that have reported so far have posted an earnings surprise to the upside, while 59% of those stocks have also beaten on revenue expectations. FactSet predicted a blended year-over-year earnings growth rate of 11.5% for the S & P 500, which would mark its highest since the fourth quarter of 2021. CNBC Pro screened FactSet for the S & P 500 companies reporting earnings this week that could receive a post a positive earnings surprise and therefore receive a price boost. To be included in the table, the stocks had to meet the following criteria: Expected to report earnings per share of at least five cents Have at least five upwards earnings estimate revisions in the past three months Consensus estimate percentage changes up at least 5% in the past three and six months Here is the list of names: Ride-hailing platform Uber Technologies is slated to report earnings on Tuesday. The stock has received 24 upwards revisions over the past three months. Shares of Uber have slipped 4% this year. Earlier this month, both Goldman Sachs and Mizuho reiterated buy ratings on the stock. Another name on the list was computing company Super Micro Computer , due to release earnings on Wednesday. Analysts have revised earnings estimates for the company 13 times in the last three months. Super Micro Computer stock has soared 120% in 2024, helped by its exposure to artificial intelligence. Another factor that helped its stock was that it replaced pharmacy chain Walgreens Boots Alliance in the Nasdaq 100 index on July 22. Earlier this month, Barclays stood by its overweight rating heading into Super Micro’s earnings release. Analyst George Wang expects the company will raise its revenue forecast for the September quarter and fiscal 2025. “We remain OW on SMCI and expect a robust year of AI server deployment led by Tier 2 Cloud, high-end enterprises like Tesla and xAI, as well as sovereign AI,” the analyst wrote in a note. Other names included in the list were energy company Vistra , financial services stock Fidelity National Information Services and logistics firm Expeditors International of Washington . — CNBC’s Fred Imbert contributed to this report.
Source: www.cnbc.com