Rocket Stocks for the Week

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By Jonas Elmerraji

BALTIMORE (TheStreet) -- If this morning's headlines are any indication, investors are ready to get back into the market's action. As another week of earnings season opens up, 137 of the S&P 500 companies are set to report their earnings in the next five days. That's an event-packed earnings calendar that could be a huge catalyst for a number of companies -- but especially for this week's Rocket Stocks list.

Rocket stocks are beaten-down stocks with near-term growth catalysts and long-term growth potential. And over the course of the last 14 weeks, getting into our weekly list on Monday and selling on Friday would have netted you gains of about 28.9%.

Last week, we played the rising wave of positive earnings sentiment ahead of companies that were set to announce their results. This week, we're making similar bets. Here's a look at how last week's plays fared.

Our biggest winner from last week's Rocket Stocks list was Apple(AAPL Quote). The iPhone maker announced its best-ever quarter for both Mac and iPhone sales, $9.87 billion in sales, and eked out an analyst upgrade in the process. Shares of Apple rose 8.45% in the last five trading days.

Another strong performer last week was the thermal imaging system maker Flir Systems(FLIR Quote), which reported earnings on Oct. 21. Shares of the company gained 2.48%.

Performing worse were Coca-Cola(KO Quote), United Parcel Service(UPS Quote) and Schlumberger(SLB Quote). Still, our Rocket Stocks beat out the S&P 500 last week once again.

Now on to this week's list.

First up this week is America Movil(AMX Quote), a $76 billion mobile phone carrier that operates in a slew of Latin American countries. In 2009 alone, America Movil has seen its share price appreciate by 50%, thanks in large part to strong cellular growth in the developing countries in which it operates.