Some companies reporting next week are more likely to see their stocks rise on earnings than others. About 15% of the stocks in the S&P 500 — or 76 names in the index — are scheduled to report results in the coming days, including major media, travel and restaurant stocks. Despite some disappointments from large-cap tech companies, the earnings season has been generally positive. Of the S&P 500 companies reporting so far, 78% have reported positive earnings surprises, while 59% have also beaten revenue expectations. FactSet forecasts a year-over-year mixed earnings growth rate of 11.5% for the S&P 500, the highest since the fourth quarter of 2021. CNBC Pro looked at FactSet for S&P 500 companies reporting earnings this week that could receive a positive earnings surprise and thus a price increase. To be included in the table, stocks had to meet the following criteria: Earnings per share are expected to be at least 5 cents. Have at least five upward earnings estimate revisions in the past three months. Have changed the consensus estimate by at least 5% in the past three and six months. Here’s the list of names: Ride-hailing platform Uber Technologies is scheduled to report earnings on Tuesday. The stock has received 24 upward revisions in the past three months. Uber shares are down 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, which is due to report earnings on Wednesday. Analysts have revised earnings estimates for the company 13 times in the past three months. Super Micro Computer’s stock is up 120% in 2024, helped by its exposure to AI. Another factor that helped its stock rise was that it displaced drugstore chain Walgreens Boots Alliance in the Nasdaq 100 on July 22. Earlier this month, Barclays maintained its overweight rating ahead of Super Micro’s earnings release. Analyst George Wang expects the company to raise its revenue forecasts for the third quarter of September and fiscal 2025. “We remain well-positioned on SMCI and expect a strong year of AI server deployment led by Tier 2 Cloud and high-end enterprises like Tesla and xAI, as well as sovereign AI,” the analyst wrote in a note. Other names on the list included energy company Vistra, financial services company Fidelity National Information Services and logistics company Expeditors International of Washington. — CNBC’s Fred Imbert contributed to this report.
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These stocks that reported earnings this week have strong momentum in their favor.
