More than two-thirds of S&P 500 companies have already reported earnings, but there are still major names scheduled to publish their latest quarterly numbers. AI plays Palantir, Qualcomm and Super Micro Computer among the 96 names in the S&P 500. These reports follow the busiest week of the reporting period, which included results from Apple, Amazon, Microsoft and Meta Platforms. So far, the season has been solid. FactSet data shows that about 75% of companies beat earnings estimates. S&P 500 earnings are on track to grow more than 5% year over year. Monday Palantir is scheduled to report earnings after the bell, with a call scheduled for 5 p.m. ET. Q4: PLTR raised its annual revenue forecast on the strength of AI. This quarter: Earnings are expected to rise more than 20% compared to the same period a year earlier, according to LSEG. What to watch: Palantir shares have been on fire this year, rising more than 140%, thanks to strong demand for its AI software. Can this momentum continue? What history shows: Data from Bespoke Investment Group shows that Palantir beats earnings expectations only 38% of the time. However, the stock gained 1.9% on earnings days. Super Micro Computer is scheduled to report earnings after the close on Tuesday, followed by a call at 5 p.m. ET. Last quarter: SMCI announced a 10-for-1 stock split and reported weaker-than-expected earnings. This quarter: Analysts surveyed by LSEG expect Super Micro to report earnings growth of more than 100% compared to the same period last year. What to Watch: Super Micro comes in this week on a recession report. The stock lost about 45% last week after Ernst & Young resigned as the company's auditor. Can the once-high-flying AI play recover? What history shows: Super Micro shares posted double-digit declines after the last two earnings releases. After the company's fiscal fourth-quarter report in August, the stock fell 20%. Yum Brands is set to report its premarket earnings. A call with management is scheduled for 7:45 a.m. ET. Q4: YUM reported mixed results as Pizza Hut's same-store sales declined. This quarter: Analysts expect a slight decline in earnings year-over-year, according to LSEG data. What to watch: Yum Brands has been a laggard this year, rising just 1%. TD Cowen analyst Andrew Charles doesn't see the stock moving much in the near future. He downgraded the stock to hold from buy in October. “We view YUM's risk/reward as balanced, with 2024 development headwinds unlikely to be fixed in 2025 given macro pressures in YUM's key development markets which we believe will result in missing consensus development estimates,” he wrote in a note. What History Shows: According to Bespoke, Yum Brands' quarterly results tend to be mixed. Earnings have topped expectations in three of the past five quarters. However, revenue has missed the mark for five straight quarters. CVS is scheduled to report earnings Wednesday before the bell. Management is set for a call at 8 a.m. ET. Q4: CVS cut its earnings guidance and said it would cut expenses by $2 billion amid rising insurance costs. This quarter: CVS profits are expected to decline 30% year over year, according to LSEG. What to watch: CVS has been under pressure lately, losing nearly 10% over the past month. The company also replaced CEO Karen Lynch with David Joyner in October. Investors will be looking for signs of a turnaround from the struggling pharmacy operator. What history shows: CVS's earnings are above expectations 78% of the time, according to Bespoke. However, the stock fell after the last two quarterly releases. Qualcomm is scheduled to report earnings after the close, with a set date of 4:45 p.m. ET. Q4: QCOM beat estimates, with chipset sales up 12%. This quarter: Analysts surveyed by LSEG expect earnings growth of more than 25% from Qualcomm. Revenue is expected to grow by 14%. What to watch: Qualcomm shares lagged other semiconductor stocks, rising just 14%, while the VanEck Semiconductor ETF (SMH) was up nearly 40%. Deutsche Bank analyst Ross Seymour doesn't think this upcoming report will be a positive catalyst for the stock. “While we remain impressed by QCOM's execution, technology leadership and diversification efforts, we believe these positives remain largely baked into its current stock price,” wrote Seymour, who has a hold rating on the stock. What history shows: Custom data shows that Qualcomm beats earnings estimates 77% of the time. The stock also posted an average gain of 0.4% on earnings days.
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Nearly 100 S&P 500 names set to report, including 3 AI plays
