BALTIMORE (Stockpickr) -- Earnings season is continuing to kill it this quarter. While all eyes ended the week on focused on the Fed and then the Bank of Japan's stimulus announcement, publicly traded companies have been quietly stomping analyst expectations across the board.
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Of the 363 S&P 500 components that have reported their numbers so far this earnings season, a whopping 81% have posted profits that beat Wall Street's expectations for the quarter. That's a staggering result. And with few exceptions, earnings beats are being followed up by big pops in those individual stocks.
The Dow and the S&P 500 both ended at new all-time closing highs on Friday, signaling that the correction in stocks to start October was just that - a correction. So, with momentum looking strong as we head into November, we're turning to a new set of Rocket Stock names to buy.
For the uninitiated, "Rocket Stocks" are our list of companies with short-term gain catalysts and longer-term growth potential. To find them, I run a weekly quantitative screen that seeks out stocks with a combination of analyst upgrades and positive earnings surprises to identify rising analyst expectations, a bullish signal for stocks in any market. After all, where analysts' expectations are increasing, institutional cash often follows. In the last 272 weeks, our weekly list of five plays has outperformed the S&P 500's record run by 80.23%.