Welcome back. The third quarter earnings season is now upon us.
Buckle up. It could be a wild ride.
While it starts off quietly, with just about 80 companies expected to report this week, the opening week includes many of the large banks and companies in a host of important industries and sectors.
Several of the big and regional banks will roll out their earnings. Expectations are low given the economic conditions.
But while everyone is obsessing over the banks this week, there are other companies reporting in different industries that might be a surprise.
In fact, some of them are breaking out to new highs.
Can they keep their momentum?
5 Must-See Earnings Charts This Week
1.
Bank of America
BAC
has a good track record of beating. It has only missed twice in the last 5 years but one of those misses was earlier this year. Shares remain depressed in 2020 as they’re still down 29.3% year-to-date. Is this a buying opportunity?
2.
The Progressive Corp.
PGR
has beat 3 out of the last 4 quarters. The property insurer is trading at 5-year highs. Shares have soared in 2020, up another 38.4% year-to-date. Is it too hot to handle?
3.
UnitedHealth Group
UNH
has a perfect 5-year earnings surprise record. It’s not easy to beat every quarter for years at a time. Impressive. Shares of this big health insurer are up 12.8% year-to-date and are at new 5-year highs despite the upcoming presidential election. Can this rally continue into November 3?
4.
PNC Financial
PNC
is coming off of a miss last quarter. This regional bank has beat 3 out of the last 4 quarters however. Shares remain depressed, still down 29.8% year-to-date. Are the regional banks hidden gems or value traps?
5.
United Airlines
UAL
has only missed 3 times in the last 5 years but one of those was last quarter. Does the Street care about a beat or a miss right now? It’s more about capacity and cash burn. Shares are down 59.8% year-to-date. Will the airlines turn it around in 2021?
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we’re targeting >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
