[ad_1]
Nvidia is one of several stocks reporting earnings next week that has historically outperformed Wall Street’s estimates and seen its stock notch gains on earnings day. On Wednesday, the chipmaker will reveal its top- and bottom-line results for the third quarter. Other companies that will report their quarterly financial results next week include fintech firm Klarna , cybersecurity company Palo Alto Networks and retail giants like Home Depot , Lowe’s and Target . With the next phase of earnings season just around the corner, CNBC Pro looked for companies that frequently post better-than-expected quarterly financial results and often see their stocks rise. Specifically, we screened for stocks meeting the following criteria: Earnings beat rate of 65% or more Average earnings days gain of at least 1% Here are a few of the companies reporting earnings next week that fit those criterion. Nvidia The chipmaker, which will report its third-quarter results next Wednesday, has beaten analysts’ earnings expectations 86% of the time. It has also seen its stock tick up an average of 1.9% on earnings day. Nvidia has reported strong growth over the past year, particularly as hyperscalers such as Microsoft and IBM allocate billions of dollars toward capital outlays for semiconductors and other materials to power advanced artificial intelligence applications. The company has struck several major deals with other BigTech firms this year, including an agreement to invest up to $100 billion in OpenAI , which it will supply with data center chips. Nvidia stock is down 4% on the day. However, shares have jumped 38% year to date. Intuit The financial technology company, which is scheduled to report its results next Thursday, has topped the Street’s forecast on its earnings 88% of the time. Its stock has an average earnings day gain of about 1.1%. Intuit stock hit a record high north of $800 last summer as the tax preparation software provider continued to explore integrating AI-powered technology into its products. The stock is trading down more than 1% on Thursday. Shares are up more than 3% since the beginning of the year.
[ad_2]
Source link
