Most Anticipated Earnings Releases for the week beginning October 16th, 2023

Here are the most notable earnings releases for the trading week beginning October 16th, 2023-
($TSLA $NFLX $BAC $UAL $LMT $T $SCHW $ASML $AAL $GS $TSM $ISRG $JNJ $PG $MS $LRCX $LVS $PLD $ABT $AA $BX $IBKR $SFBS $SLB $USB $NOK $AXP $ELV $DFS $KEY $COLB $FCX $BK $JBHT $MTB $NDAQ $TFC $WAL $ERIC $CMA $CSX $UNP $SNA $ELS $MMC $HBAN $FBK $HWC $PNFP)


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Here are the most notable Highest Volatility earnings releases for the trading week beginning October 16th, 2023-


(This post will be edited later with the notable earnings details & charts)

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Tesla is Expected to Beat Estimates

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Tesla (TSLA) is confirmed to report earnings on Wednesday, October 18, 2023 at approximately 4:05 PM ET. The consensus earnings estimate is $0.75 per share on revenue of $24.26 billion, representing 13.1% year-over-year revenue growth, and the Earnings Whisper ® number is $0.76 per share. Investors are bullish going into the company's earnings release with 62.1% expecting a beat. Short interest has decreased by 13.8% since the company's last earnings release while the stock has drifted lower by 10.2% from its open following the earnings release to be 19.2% above its 200 day moving average of $210.61. Overall earnings estimates have been revised lower since the company's last earnings release. Option Traders are pricing in a 7.1% move on earnings and the stock has averaged a 8.4% move in recent quarters. On Wednesday, September 27, 2023 there was some notable buying of 52,167 contracts of the $450.00 put expiring on Friday, January 19, 2024.


Netflix is Expected to Beat Estimates

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Netflix (NFLX) is confirmed to report earnings on Wednesday, October 18, 2023 at approximately 4:00 PM ET. The consensus earnings estimate is $3.47 per share on revenue of $8.43 billion, representing 6.4% year-over-year revenue growth, and the Earnings Whisper ® number is $3.58 per share. The company's guidance was for earnings of approximately $3.52 per share on revenue of approximately $8.52 billion. Investors are bullish going into the company's earnings release with 70.5% expecting a beat. Short interest has decreased by 3.1% since the company's last earnings release while the stock has drifted lower by 20.4% from its open following the earnings release to be 4.2% below its 200 day moving average of $371.43. Overall earnings estimates have been revised lower since the company's last earnings release. Option Traders are pricing in a 8.4% move on earnings and the stock has averaged a 12.6% move in recent quarters. On Thursday, October 05, 2023 there was some notable buying of 4,054 contracts of the $370.00 put expiring on Friday, October 27, 2023.


Bank of America is Expected to Beat Estimates

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Bank of America (BAC) is confirmed to report earnings on Tuesday, October 17, 2023 at approximately 6:45 AM ET. The consensus earnings estimate is $0.80 per share on revenue of $25.21 billion, a decline of 17.0% year-over-year, and the Earnings Whisper ® number is $0.83 per share. Investors are bearish going into the company's earnings release but with 78.7% expecting a beat. Short interest has decreased by 12.4% since the company's last earnings release while the stock has drifted lower by 10.8% from its open following the earnings release to be 11.0% below its 200 day moving average of $30.07. Overall earnings estimates are unchanged since the company's last earnings release. Option Traders are pricing in a 5.4% move on earnings and the stock has averaged a 2.8% move in recent quarters. On Friday, October 06, 2023 there was some notable buying of 130,302 contracts of the $15.00 put expiring on Friday, June 21, 2024.


Charles Schwab is Expected to Miss Estimates

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Charles Schwab (SCHW) is confirmed to report earnings on Monday, October 16, 2023 at approximately 8:45 AM ET. The consensus earnings estimate is $0.75 per share on revenue of $4.68 billion, a decline of 14.9% year-over-year, and the Earnings Whisper ® number is $0.74 per share. Investors are bullish going into the company's earnings release with 45.3% expecting a beat. Short interest has decreased by 2.9% since the company's last earnings release while the stock has drifted lower by 20.6% from its open following the earnings release to be 17.0% below its 200 day moving average of $61.82. Overall earnings estimates are unchanged since the company's last earnings release. Option Traders are pricing in a 7.8% move on earnings and the stock has averaged a 5.4% move in recent quarters. On Wednesday, October 04, 2023 there was some notable buying of 15,457 contracts of the $75.00 put expiring on Friday, January 19, 2024.


Lockheed Martin is Expected to Beat Estimates

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Lockheed Martin (LMT) is confirmed to report earnings on Tuesday, October 17, 2023 at approximately 7:30 AM ET. The consensus earnings estimate is $6.66 per share on revenue of $16.70 billion, representing 0.7% year-over-year revenue growth, and the Earnings Whisper ® number is $6.81 per share. Investors are bullish going into the company's earnings release with 71.0% expecting a beat. Short interest has increased by 9.8% since the company's last earnings release while the stock has drifted lower by 7.0% from its open following the earnings release to be 3.1% below its 200 day moving average of $455.07. Overall earnings estimates have been revised lower since the company's last earnings release. Option Traders are pricing in a 4.0% move on earnings and the stock has averaged a 3.1% move in recent quarters. On Wednesday, October 04, 2023 there was some notable buying of 2,262 contracts of the $460.00 put expiring on Friday, October 20, 2023.


United Airlines is Expected to Report In-line with Estimates

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United Airlines (UAL) is confirmed to report earnings on Tuesday, October 17, 2023 at approximately 4:05 PM ET. The consensus earnings estimate is $3.40 per share on revenue of $14.44 billion, representing 12.1% year-over-year revenue growth, and the Earnings Whisper ® number is $3.40 per share. Investors are bullish going into the company's earnings release with 69.6% expecting a beat. Short interest has decreased by 12.9% since the company's last earnings release while the stock has drifted lower by 30.6% from its open following the earnings release to be 19.0% below its 200 day moving average of $47.82. Overall earnings estimates have been revised lower since the company's last earnings release. Option Traders are pricing in a 7.4% move on earnings and the stock has averaged a 6.6% move in recent quarters. On Monday, September 25, 2023 there was some notable buying of 26,582 contracts of the $30.00 put expiring on Friday, June 21, 2024.


AT&T is Expected to Beat Estimates

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AT&T (T) is confirmed to report earnings on Thursday, October 19, 2023 at approximately 6:30 AM ET. The consensus earnings estimate is $0.63 per share on revenue of $30.21 billion, representing 0.6% year-over-year revenue growth, and the Earnings Whisper ® number is $0.65 per share. Investors are bullish going into the company's earnings release with 87.8% expecting a beat. Short interest has increased by 28.9% since the company's last earnings release while the stock has drifted lower by 3.7% from its open following the earnings release to be 14.2% below its 200 day moving average of $16.74. Overall earnings estimates have been revised higher since the company's last earnings release. Option Traders are pricing in a 5.6% move on earnings and the stock has averaged a 6.2% move in recent quarters. On Wednesday, October 04, 2023 there was some notable buying of 25,784 contracts of the $14.50 call and 25,157 contracts of the $14.50 put expiring on Friday, October 20, 2023.


ASML is Expected to Miss Estimates

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ASML (ASML) is confirmed to report earnings on Wednesday, October 18, 2023 at approximately 1:00 AM ET. The consensus earnings estimate is $5.00 per share on revenue of $7.12 billion, representing 22.3% year-over-year revenue growth, and the Earnings Whisper ® number is $4.97 per share. The company's guidance was for revenue of $7.30 billion to $7.86 billion. Investors are bearish going into the company's earnings release but with 62.5% expecting a beat. Short interest has increased by 26.2% since the company's last earnings release while the stock has drifted lower by 18.9% from its open following the earnings release to be 8.2% below its 200 day moving average of $653.60. Overall earnings estimates have been revised lower since the company's last earnings release. Option Traders are pricing in a 5.4% move on earnings and the stock has averaged a 3.7% move in recent quarters. On Thursday, October 12, 2023 there was some notable buying of 1,335 contracts of the $620.00 call expiring on Friday, October 20, 2023.


Goldman Sachs Group is Expected to Miss Estimates

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Goldman Sachs Group (GS) is confirmed to report earnings on Tuesday, October 17, 2023 at approximately 7:15 AM ET. The consensus earnings estimate is $5.32 per share on revenue of $11.19 billion, a decline of 39.5% year-over-year, and the Earnings Whisper ® number is $5.31 per share. Investors are bullish going into the company's earnings release with 59.0% expecting a beat. Short interest has increased by 8.1% since the company's last earnings release while the stock has drifted lower by 8.5% from its open following the earnings release to be 7.4% below its 200 day moving average of $334.14. Overall earnings estimates have been revised lower since the company's last earnings release. Option Traders are pricing in a 4.5% move on earnings and the stock has averaged a 2.3% move in recent quarters. On Friday, October 13, 2023 there was some notable buying of 4,747 contracts of the $330.00 call expiring on Friday, October 20, 2023.


Intuitive Surgical is Expected to Beat Estimates

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Intuitive Surgical (ISRG) is confirmed to report earnings on Thursday, October 19, 2023 at approximately 4:05 PM ET. The consensus earnings estimate is $1.41 per share on revenue of $1.77 billion, representing 13.7% year-over-year revenue growth, and the Earnings Whisper ® number is $1.43 per share. Investors are bullish going into the company's earnings release with 78.4% expecting a beat. Short interest has increased by 1.0% since the company's last earnings release while the stock has drifted lower by 18.7% from its open following the earnings release to be 4.3% below its 200 day moving average of $285.45. Overall earnings estimates have been revised higher since the company's last earnings release. Option Traders are pricing in a 8.8% move on earnings and the stock has averaged a 8.1% move in recent quarters. On Friday, October 13, 2023 there was some notable buying of 1,481 contracts of the $305.00 call expiring on Friday, October 20, 2023.


Ericsson is Expected to Miss Estimates

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Ericsson (ERIC) is confirmed to report earnings on Tuesday, October 17, 2023 at approximately 1:55 AM ET. The consensus earnings estimate is $0.07 per share on revenue of $6.27 billion, a decline of 2.9% year-over-year, and the Earnings Whisper ® number is $0.06 per share. Investors are bearish going into the company's earnings release but with 20.0% expecting a beat. Short interest has decreased by 19.1% since the company's last earnings release while the stock has drifted lower by 7.6% from its open following the earnings release to be 11.9% below its 200 day moving average of $5.41. Overall earnings estimates have been revised lower since the company's last earnings release. Option Traders are pricing in a 4.7% move on earnings and the stock has averaged a 9.9% move in recent quarters. On Wednesday, October 11, 2023 there was some notable buying of 2,108 contracts of the $5.00 put expiring on Friday, November 17, 2023.


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Here are the most anticipated Earnings Releases for this upcoming trading week ahead.

***Check mark next to the stock symbols denotes confirmed earnings release date & time***

Monday 10.16.23 Before Market Open:

Spoiler: CLICK HERE TO VIEW MONDAY'S AM EARNINGS TIMES & ESTIMATES!

Monday 10.16.23 After Market Close:

Spoiler: CLICK HERE TO VIEW MONDAY'S PM EARNINGS TIMES & ESTIMATES!

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Tuesday 10.17.23 Before Market Open:

Spoiler: CLICK HERE TO VIEW TUESDAY'S AM EARNINGS TIMES & ESTIMATES!

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Tuesday 10.17.23 After Market Close:

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Wednesday 10.18.23 Before Market Open:

Spoiler: CLICK HERE TO VIEW WEDNESDAY'S AM EARNINGS TIMES & ESTIMATES!

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Wednesday 10.18.23 After Market Close:

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Thursday 10.19.23 Before Market Open:

Spoiler: CLICK HERE TO VIEW THURSDAY'S AM EARNINGS TIMES & ESTIMATES!

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Thursday 10.19.23 After Market Close:

Spoiler: CLICK HERE TO VIEW THURSDAY'S PM EARNINGS TIMES & ESTIMATES!

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Friday 10.20.23 Before Market Open:

Spoiler: CLICK HERE TO VIEW FRIDAY'S AM EARNINGS TIMES & ESTIMATES!

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Friday 10.20.23 After Market Close:

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Here are the Most Anticipated Earnings Releases for the next 4 weeks.
($TSLA $AAPL $NFLX $PEP $META $JPM $DAL $BA $SOFI $WBA $UNH $BAC $QCOM $APLD $BLK $CLF $C $LLY $T $AAL $XOM $TSM $UAL $INTC $IBM $NVO $VZ $PG $DPZ $NEOG $ASML $JNJ $PFE $SQ $WFC $ISRG $CVNA $CMC $AA $LMT $GS $F $KO $PGR $PNC)

 

Here are the scheduled earnings releases due out before the market open on Monday (10/16/23)-

 

Here are the scheduled earnings releases due out after the market close on Monday (10/16/23)-
($BAC $LMT $GS $JNJ $SFBS $PLD $FBK $ELS $CFB $BK $ERIC $ACI $MBWM $CATC)

 

Here are the scheduled earnings releases due out before the market open on Tuesday (10/17/23)-
($BAC $LMT $GS $JNJ $SFBS $PLD $FBK $ELS $CFB $BK $ERIC $ACI $MBWM $CATC)

 

Here are the scheduled earnings releases due out after the market close on Tuesday (10/17/23)-
($UAL $ASML $PG $IBKR $MS $JBHT $ABT $NDAQ $ELV $USB $MTB $HWC $PNFP $TRV $WTFC $ALLY $CFG $OMC $FULT $PFBC $EQBK (not shown $WGO $FHN $NTRS $CBSH $UNF $UCBI $WIT $SCL))

 

Here are the scheduled earnings releases due out before the market open on Wednesday (10/18/23)-
($UAL $ASML $PG $IBKR $MS $JBHT $ABT $NDAQ $ELV $USB $MTB $HWC $PNFP $TRV $WTFC $ALLY $CFG $OMC $FULT $PFBC $EQBK (not shown $WGO $FHN $NTRS $CBSH $UNF $UCBI $WIT $SCL))

 

Here are the scheduled earnings releases due out after the market close on Wednesday (10/18/23)-
($TSLA $NFLX $LRCX $LVS $AA $DFS $SAP $COLB $KMI $ZION $CCI $EFX $STLD $PPG $LBRT $SLG $MCRI $REXR $HBCP $MRTN $FNB $FR $GSBC $BANR)

 

Here are the scheduled earnings releases due out before the market open on Thursday (10/19/23)-
($T $TSM $AAL $BX $NOK $UNP $TFC $KEY $FCX $SNA $TCBI $MMC $PM $FITB $IRDM $ALK $WSO $GPC $POOL $SNV $EWBC $BMI $MAN $WBS $WNS $DCOM $HOMB $IIIN $HFWA $LNN $AUB $BKU $STBA $RELX)

 

Here are the scheduled earnings releases due out after the market close on Thursday (10/19/23)-
($ISRG $WAL $WDFC $CSX $OZK $KNX $MCB $GBCI $SRCE $TFIN $PINE $INDB $VTMX $AMTB $ASB $MYFW $OCFC $HTH)

 

Here are the scheduled earnings releases due out before the market open on Friday (10/20/23)-
($AXP $SLB $HBAN $CMA $ALV $RF $EEFT $FBP $BHLB $IPG $OFG $SIFY $WRLD)

 

The Most Volatile Stocks on Earnings
Thu, Oct 19, 2023

Earnings season has begun with the release of quarterly results of the big banks and the first of the mega caps, Tesla (TSLA), this week. However, the slate doesn't truly ramp up until next week and the week after. That is in terms of both the number of stocks reporting and their collective market caps. In the chart below, we show the cumulative market caps of Russell 1,000 stocks reporting each day from this week through the end of November. As shown, next Tuesday is the single most important day by market cap thanks to both Microsoft (MSFT) and Alphabet (GOOGL) reporting on the same day. That is followed by Meta Platforms (META) on Wednesday and Amazon (AMZN) on Thursday. While AMZN makes up a massive portion of the market cap reporting next Thursday, it is also one of the busiest days of earnings season in terms of number of companies reporting. That day, 126 Russell 1,000 members will release earnings. The only busier day will be the following Thursday with 129 stocks reporting. From there, earnings season will wind down but there will still be a couple more big reports like Berkshire Hathaway (BRK/B) on November 6th then NVIDIA (NVDA) on November 21st.



In yesterday's Chart of the Day, we highlighted some stocks that have historically been the top performers on Q3 earnings. In a similar vein, below we show the Russell 1,000 members with at least three years of earnings history that have historically averaged the largest absolute daily move in reaction to earnings. For each stock, we also show its historical beat rates (% of time the stock has beaten consensus analyst EPS and sales estimates) and the percentage of the time that it has raised guidance.

As shown, BILL.com (BILL) tops the list as the most volatile stock on earnings with an average one-day change of +/-18.1%. Across its 15 quarterly reports as a public company, BILL has beaten revenue estimates every single time and missed EPS estimates just once. It has also raised guidance on 8 of its 15 quarterly reports. In addition to BILL, some other stocks that have been extremely volatile on their earnings reaction days include Roku (ROKU), Trade Desk (TTD), Pinterest (PINS), Unity Software (U), AppLovin (APP), Wayfair (W), Netflix (NFLX), Etsy (ETSY), Under Armour (UAA), Twilio (TWLO), and Zoom Video (ZM). This list is a who's who of many stocks that both surged during the post-COVID bull market in 2020 and 2021 and then plummeted during the bear market of 2022.