Morgan Stanley analysts highlighted U.S. stocks with the highest Earnings Surprise Composite scores.

These are stocks the quantitative equity research team believes will deliver positive earnings in the upcoming season, leveraging signals from their earnings forecast landscape, earnings quality, and broader forecast dynamics to deliver a composite score, Ronald Ho, quantitative strategist at Morgan Stanley.

Since 2019, this strategy has achieved a pre-cost Sharpe ratio of 0.76 for the selection of U.S. stocks; and since 2024, the live performance of this strategy has resulted in a pre-cost Sharpe ratio of 1.61 for the U.S.

The following are U.S. stocks that are expected to report earnings between April 4 and May 2, that have an “overweight,” and that fall within the top two quintiles of the Earnings Surprise Composite scores.

1. Carvana Co. (CVNA) – Earnings surprise composite score: 0.99
2. Labcorp Holdings (LH) – Earnings surprise composite score: 0.99
3. Stryker Corp. (SYK) – Earnings surprise composite score: 0.98
4. Cardinal Health (CAH) – Earnings surprise composite score: 0.97
5. Prologis (PLD) – Earnings surprise composite score: 0.97
6. DoorDash (DASH) – Earnings surprise composite score: 0.96
7. Steel Dynamics (STLD) – Earnings surprise composite score: 0.96
8. eBay (EBAY) – Earnings surprise composite score: 0.95
9. Northrop Grumman (NOC) – Earnings surprise composite score: 0.95
10. ResMed (RMD) – Earnings surprise composite score: 0.94
11. McDonald's (MCD) – Earnings surprise composite score: 0.94
12. CNH Industrial NV (CNH) – Earnings surprise composite score: 0.93
13. Valero Energy (VLO) – Earnings surprise composite score: 0.93
14. MasterCard (MA) – Earnings surprise composite score: 0.92
15. Ally Financial (ALLY) – Earnings surprise composite score: 0.90
16. NXP Semiconductor NV (NXPI) – Earnings surprise composite score: 0.90
17. Apple (AAPL) – Earnings surprise composite score: 0.89
18. The Allstate Corp (ALL) – Earnings surprise composite score: 0.86
19. Blackstone (BX) – Earnings surprise composite score: 0.86
20. AT&T (T) – Earnings surprise composite score: 0.85
21. Cloudflare (NET) – Earnings surprise composite score: 0.85
22. Healthpeak Properties (DOC) – Earnings surprise composite score: 0.84
23. Freeport-McMoRan (FCX) – Earnings surprise composite score: 0.84
24. Regeneron Pharmaceuticals (REGN) – Earnings surprise composite score: 0.84
25. Meta Platforms (META) – Earnings surprise composite score: 0.83
26. Atlassian Corporation (TEAM) – Earnings surprise composite score: 0.81
27. Crown Holdings (CCK) – Earnings surprise composite score: 0.81
28. Huntington Bancshares (HBAN) – Earnings surprise composite score: 0.80
29. Arch Capital Group Ltd. (ACGL) – Earnings surprise composite score: 0.80
30. Live Nation Entertainment (LYV) – Earnings surprise composite score: 0.79