This is a big week for earnings with over 900 companies reporting including the rest of FAANG and many of the hot big cap stocks from drug makers, to restaurants, to retailers, and financials.
Many of the “hot” growth names are reporting but they’re not all in technology.
Drug makers, retail, and restaurants are also doing well in this recovery rally.
These 5 companies are going to be some of the companies to watch this week.
Several of them are breaking out to new highs while others play a key role in the economy and could be hidden gems.
Will there be some earnings surprises among them?
These 5 Earnings Charts May Surprise You
1. MercadoLibre (MELI - Free Report) isn’t just the “Amazon of Central and South America” as it also has a big digital payments business in MercadoPago. With the coronavirus pandemic hitting across its 18 countries, was this a record quarter for the company? Shares have already busted out to new 5-year highs. It’s also one of the hottest stocks of the year.
2. Yeti (YETI - Free Report) hasn’t missed since its 2018 IPO. That’s an impressive record. Shares have soared in 2020 as it’s a “stay at home” play but with the shares now trading at 48x, is it too hot to handle?
3. Uber Technologies (UBER - Free Report) had beat 3 out of the last 4 quarters so it has a good track record of beating. However, its business model was definitely shaken in the quarter as ride sharing plummeted. Can it get back on track in the second half of 2020?
4. Zillow Group (ZG - Free Report) hasn’t missed since Zacks data began in 2017. That’s an impressive surprise streak. Shares have rebounded off the March lows and have now busted out to new 4-year highs. Housing is hot. Can it keep the momentum?
5. Alteryx (AYX - Free Report) is coming off its first miss since it went IPO in 2017. The data analytics software company is in one of the hottest areas of the market. Shares are up 78% year-to-date and near an all-time high. Will another beat be enough to send the shares even higher?
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