From Nasdaq: 2024-05-06 07:39:00

The first-quarter earnings season is in full swing, with over 1,900 companies set to report this week. Earnings results have been better than expected, with 400 S&P 500 companies already reporting a 4.4% increase in earnings and 4.2% higher revenues year over year.

Several U.S. corporate bigwigs are expected to beat on earnings this week. Companies with a favorable Zacks Rank and an earnings beat might see a positive stock price reaction. Overall, S&P 500 first-quarter earnings are anticipated to be up 2.9% on 3.8% higher revenues.

Top picks for this week’s earnings reports include five large-cap stocks with a Zacks Rank #2 (Buy) and positive Earnings ESP. The combination of these factors could lead to an earnings beat, with up to a 70% chance of success for stocks meeting these criteria.

Among the top picks is Axon Enterprise Inc. (AXON), with a strong performance driven by demand for TASER devices and new users on the Axon network. Another promising stock is TopBuild Corp. (BLD), benefiting from productivity initiatives and strategic acquisitions. Arista Networks Inc. (ANET) is also set to perform well, driven by its software-driven approach and market traction.

Emerson Electric Co. (EMR) is seeing healthy demand across end markets, with strength in its measurement and analytical businesses. Robinhood Markets Inc. (HOOD) is operating a financial services platform and is expected to show significant earnings growth this year. These companies are all expected to report earnings this week, with strong potential for positive results.



Read more at Nasdaq:: Top 5 Stocks Poised to Beat on Earnings This Week