Investors can keep an eye on several companies reporting financial results in the coming days. The first full-week earnings began earlier this week, with some of the biggest banks reporting on Monday and Tuesday. This week continues with United Airlines reporting after-hours earnings on Wednesday and Netflix reporting on Thursday. As earnings season heads into next week, CNBC has found some stocks poised for a “surge” in earnings. We scanned companies reporting next week for those that have had their earnings estimates revised down 10 or more times in the past three months, have had their EPS estimates revised down 5% or more on average in the past three months and the past six months, and have had their average analyst price target revised down 5% or more in the past three months. Here are the stocks on the list: One of the companies with the most EPS revisions in the past three months is Starbucks, with analysts cutting their numbers 43 times. Current quarter EPS estimates have fallen more than 16%, to 94 cents per share. The coffee chain has also seen a similar trend, with analysts’ target price down 16.5% over the past three months. The stock has been under pressure over the period, falling 11.6% over the past three months as of Tuesday’s close. For the full year, Starbucks has fallen more than 21% since the beginning of the year. This comes as the company has been rolling out value deals, such as $5 food and drink combo options, to attract customers. Starbucks is scheduled to report third-quarter earnings on July 25. Southwest Airlines was listed after receiving 28 downward EPS revisions, resulting in a consensus estimate that fell 35.1% over the three-month period. Earnings for the just-ended quarter are now estimated at 52 cents per share. Shares of the Dallas-based airline are up about 2.4% over the three-month period, but down 0.6% for the full year. Earlier this month, activist investor Elliott Management told Southwest’s board it would launch a proxy fight to oust CEO Bob Jordan and Chairman Gary Kelly over the company’s weak performance and lack of growth. Southwest is scheduled to report second-quarter earnings before the market opens on July 25. Last month, Charlotte-based steelmaker Nucor cut its second-quarter guidance, a major factor in analysts’ 21 earnings cuts in the past three months. Nucor’s latest quarterly earnings are now estimated at $2.53 a share, down about 30% from what analysts estimated in April. Shares of Nucor, which uses electric arc furnaces to melt scrap steel into new steel, have fallen about 13.5% in the past three months and are down more than 4.5% since the beginning of the year. The company is scheduled to report earnings after the market closes on July 22. NUE 3M mountain Nucor, Other stocks that have been mentioned as possible three-month earnings surprises include Old Dominion Freight Line, which has seen its EPS estimates revised down 35 times in the last three months, and Intel Corp., which has seen the biggest EPS estimate revisions in the last three and six months, plunging 56.5% and 74%, respectively.
These stocks, which report earnings next week, are expected to see a surge in earnings.
