A collection of stocks including AT & T and Tesla could see strong moves this week on the heels of quarterly results. Earnings so far in the third-quarter have surpassed Wall Street's expectations. The more than 14% of S & P 500 companies that have reported results so far have together notched earnings growth of more than 6%, according to FactSet.
Meanwhile, 75% of the companies have surpassed analysts' estimates. Looking ahead, CNBC Pro screened for stocks that could see large moves in either direction in response to quarterly results this week, specifically by examining forecast moves based on action in the options market. Here's a look at stocks that stood out.
Shares of telecommunications firm AT & T have advanced nearly 30% in 2024, putting it on track to earn its first year in the green since 2019. The stock could see as much as a 4.2% move following third-quarter results on Oct.
23. T YTD mountain AT & T stock. The company heads into next week's results after beating analysts' estimates for subscriber growth in the second quarter.
AT & T is a top pick for both JPMorgan Chase and Goldman Sachs , with both Wall Street banks optimistic over a potential share buyback announcement heading into third-quarter results. Tesla also turned up as likely to move. The battered electric vehicle company stock has pulled back more than 11% in 2024 and is the worst-performing stock in what had been the " Magnificent Seven .
" The stock could see as much as a 6.3% move when reporting quar.
