S&P 500 Giant Leads 5 Stocks Near Buy Points Fueled By Earnings

Generated by AI AgentAinvest Technical Radar
Saturday, Oct 26, 2024 8:36 am ET2min read
The S&P 500 index has been on a rollercoaster ride in recent months, with earnings season providing a much-needed boost for some of its giants. As the market continues to grapple with geopolitical tensions and economic uncertainty, several companies have emerged as strong performers, driven by impressive earnings growth. This article highlights five S&P 500 stocks that are nearing buy points, fueled by their robust earnings performances.


1. **JPMorgan Chase (JPM)**
JPMorgan Chase, the largest bank in the United States, reported earnings of $4.37 per share on $42.7 billion in revenue, beating analysts' expectations. The stock is trading right below a 225.48 buy point for a cup base, which is also its record high. Despite a pullback on Friday, JPM stock is holding above its key moving averages and has advanced more than 30% in 2024.


2. **Amphenol (APH)**
Amphenol, a manufacturer of cables, sensors, circuits, and connectors for data centers, delivered a record beat-and-raise Q3 report. The company's AI and non-AI applications drove excellent IT data-communications growth, with earnings and revenue growth accelerating over the last four quarters. APH stock is hovering below a 70.48 buy point for a 17-week consolidation and is up 40% this year.


3. **ResMed (RMD)**
ResMed, a CPAP producer, broke out on its Q3 earnings, shrugging off concerns about popular weight-loss drugs hampering demand for its sleep apnea machines. The company reported adjusted earnings of $2.20 per share, clearing expectations for $2.05 per share. RMD stock spiked 7.1% on Friday, bounding above its 50-day line and just clearing a 255.18 flat base buy point. The stock is up 49% this year.


4. **On Holding (ONON)**
On Holding, the maker of Hoka running shoes, rallied on Friday after a strong beat from competitor Deckers Outdoor (DECK). ONON stock leapt 6.45%, rebounding decisively above its 50-day moving average and breaking a short downtrend. FactSet analysts expect flat earnings per share vs. a year earlier on nearly 32% revenue growth to $711 million. ONON stock has rallied 88% so far this year and is approaching its record high of $55.87 from November 2021.


5. **Carpenter Technology (CRS)**
Carpenter Technology topped Q2 2025 earnings estimates, with CEO Tony Thene stating it was the most profitable first quarter in company history. Adjusted earnings for the Philadelphia-based alloy maker nearly doubled to $1.73 per share, outpacing FactSet expectations for $1.58 per share. CRS stock briefly undercut its 50-day line and a 148.98 buy point Thursday after its sales and guidance miss but pared losses significantly. The stock is technically back in a buy zone for its Sept. 18 breakout and is up more than 119% this year.


In conclusion, these five S&P 500 stocks have demonstrated impressive earnings growth, positioning them near buy points as the market continues to navigate through uncertainty. Investors should closely monitor these companies' earnings trends and consider adding them to their watchlists as potential investment opportunities.
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