Welcome to Extreme Investor Network, where we bring you the latest insights and analysis in the world of investing. Today, we are diving into the upcoming earnings season and highlighting some key companies that may see a boost in their stock prices following their earnings reports.
As we approach the next week, 15% of the stocks in the S&P 500 are set to report their earnings, including big media companies and travel and restaurant stocks. Despite a few disappointments from the tech giants, the overall earnings season has been positive, with 78% of S&P 500 companies reporting positive earnings surprises and 59% beating revenue expectations.
According to FactSet, the projected year-over-year earnings growth rate for the S&P 500 stands at 11.5%, the highest since the fourth quarter of 2021. This sets the stage for potential stock price boosts for companies that outperform their earnings expectations.
At Extreme Investor Network, we screened FactSet data to identify companies that may receive positive earnings surprises and subsequently see a price bump. Our criteria included companies that are expected to report earnings per share of at least five cents, have had at least five upwards earnings estimate revisions in the past three months, and have consensus estimate percentage changes up at least 5% in the past three and six months.
One of the companies on our radar is ride-hailing platform Uber Technologies, slated to report earnings on Tuesday. With 24 upwards revisions over the past three months, Uber has the potential to surprise investors. Super Micro Computer, a computing company set to release earnings on Wednesday, has also garnered attention with its 13 earnings estimate revisions and strong performance in the AI space.
Other companies to watch include energy company Vistra, financial services stock Fidelity National Information Services, and logistics firm Expeditors International of Washington. Our team at Extreme Investor Network is excited to see how these companies perform during the upcoming earnings season and how their stock prices react.
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