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“Hot Hand” companies for Week 2 earnings

July 24, 2023

“Hot Hand” companies for Week 2 earnings
Momentum is clearly on our side… which is a good thing considering the Week 2 sheet has 30… yes 30!… earnings trade opportunities.

Big week.

But it’s not just LikeFolio that has earnings momentum.

As I looked through this week’s sheet, I noticed that a few companies are riding a 4-quarter earnings win streak. That means that of each of the last 4 times they have reported earnings, their stock has closed higher on Friday than it started the week.

“Hot Hand” companies for Week 2:

Logitech (LOGI) has traded higher by 3-12% in all four of its last earnings reporting weeks. They report tonight after the bell.

Hertz (HTZ) reports Thursday before the market opens. The company is riding a solid of 4 straight up-weeks after earnings, with a +19% return after their earnings report a year ago.

O’Reilly Auto (ORLY) has a razor-thin streak going, with 3 of its last 4 earnings weeks returning under 3%. In fact, this week the market is expecting just a 2.1% move after earnings from this company.

Royal Caribbean (RCL) has had two big +12% moves on earnings in the past year, and was able to put up solidly positive returns on the other two.

BJ’s (BIRI) and Mondelez (MDLZ) round out the list of “hot hands”, and each of them will report Thursday after the bell.

Obviously, the last four earnings reports aren’t necessarily indicators of how the company will perform this quarter.

In fact, on several of these, the LikeFolio Earnings Score is negative – meaning we expect the streak to be broken.

But it is interesting to note who’s consistently been “feeling the love” from Wall Street over the past year, as they are more likely to “get away with” a sub-par report than other companies that are out of favor.

Bottom line: Earnings trading gives us an enormous potential for lots of opportunities for big profits in a small time frame… and like the companies above, we’ll be looking to keep our own streak alive as well.

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