Stocks Reporting This Week That Have Strong Earnings Momentum

Several companies reporting earnings in the coming week are anticipated to experience stock boosts driven by their performance. About 15% of the stocks in the S&P 500, or 76 companies, are set to announce their results, including major media, travel, and restaurant stocks.

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Despite some disappointments from large-cap tech firms, this earnings season has been generally positive. So far, 78% of the S&P 500 companies that have reported have exceeded earnings expectations, while 59% have also surpassed revenue projections. FactSet forecasted a blended year-over-year earnings growth rate of 11.5% for the S&P 500, which would be the highest since Q4 2021.

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CNBC Pro used FactSet data to screen for S&P 500 companies reporting earnings this week that are likely to deliver positive surprises and receive a price boost. The criteria for inclusion were:

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• Expected earnings per share (EPS) of at least five cents.
• At least five upward earnings estimate revisions in the past three months.
• Consensus estimate percentage increases of at least 5% in the past three and six months.

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Here are some notable companies from the list:

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Uber Technologies is set to report earnings on Tuesday. The stock has received 24 upward revisions in the past three months. Despite a 4% decline in Uber shares this year, both Goldman Sachs and Mizuho recently reiterated their buy ratings on the stock.

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Super Micro Computer is another company on the list, due to release its earnings on Wednesday. Analysts have revised earnings estimates for the company 13 times in the last three months. Super Micro Computer's stock has surged 120% in 2024, driven by its involvement in artificial intelligence (AI). The stock also benefited from replacing Walgreens Boots Alliance in the Nasdaq 100 index on July 22. Barclays has maintained its overweight rating ahead of Super Micro’s earnings release.

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Analyst George Wang expects the company to raise its revenue forecast for the September quarter and fiscal 2025. “We remain overweight 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,” he wrote in a note.

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Other companies on the list include energy firm Vistra, financial services stock Fidelity National Information Services, and logistics company Expeditors International of Washington.

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These companies have shown promising indicators that suggest they could report strong earnings and receive a positive reaction from the market.

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