Earnings season isn’t over even as about 90% of the S&P 500 has now reported.
This week there are over 200 companies expected to report earnings including many of the big cap retailers and a select group of really hot stocks that have been breaking out to new 5-year highs this year despite the pandemic.
Not only are these 5 hot stocks on a tear, but they have excellent earnings surprise track records, with one having a perfect surprise record over the last 5 years.
It’s not easy to beat nearly every quarter over the course of several years.
Will they beat again during the pandemic quarter?
The 5 Hottest Earnings Charts This Week
1. NVIDIA NVDA has a great track record of beating with just one miss since the Zacks data began in 2017. Shares are up 107% year-to-date and have broken out to 5-year highs. They’re not cheap with a forward P/E of 58. Is there more room in the tank?
2. Synopsys, Inc. SNPS hasn’t missed since 2017 which is an impressive streak. This software maker is up 43.8% year-to-date and is near it’s 5-year high. Software has been a hot industry all year. Will it remain so in the second half of this year?
3. Alibaba BABA has beat 7 quarters in a row after posting some misses earlier in its life as a public company. Shares have finally busted out of the narrow trading range they had been stuck in and have surged to a new 5-year high as China has reopened following its coronavirus lockdown. Can it keep this momentum?
4. The Estee Lauder Companies EL has been one of the hottest beauty companies for years. It hasn’t missed in 5 years which is impressive. Shares are only now getting back to their pre-pandemic highs, however. Will it see a breakout on this earnings report?
5. Deere & Company DE has only beat 3 times in a row after suffering numerous misses as the agriculture industry took a dive. But shares have now busted out to new 5-year highs and are up 11.2% year-to-date. Is it time to get back into the infrastructure and agriculture stocks?
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