These 13 stocks could surge on upbeat results this earnings season, Morgan Stanley says

Ticker: AMD

Year-to-date performance: +12%

Thesis: "We expect a very strong Q given a robust server microprocessor market, with Intel's manufacturing limitations driving material AMD share gains. With AI in a holding pattern in the 2H26 launch of their next gen product, we expect considerable optimism from mgmt on the product."

Ticker: CBRE

Year-to-date performance: +5%

Thesis: "We expect the company to deliver on +16.1% Y/Y growth in EBITDA and +13.3% in Adj. EPS growth in 4Q and set FY 2026 guidance of +12-15% for both EBITDA and Adj. EPS. We expect a solid update, particularly in the data center and healthcare verticals."

Ticker: CLF

Year-to-date performance: +4%

Thesis: "We think the market does not appreciate potentially transformative nature of a definitive agreement between CLF and Korean steelmaker POSCO. We expect an announcement will come in the next few weeks and could come alongside earnings on Feb 9."

Ticker: COST

Year-to-date performance: +12%

Thesis: "COST should see a re-acceleration in comps to its usual ~7% to 8% level once it starts lapping easier compares in May. For the January quarter, we estimate comps of 6.2% vs. consensus at 4.9%. January sales report is expect on Feb 4, and earnings on March 5."

Ticker: CMI

Year-to-date performance: +11%

Thesis: "We expect 4Q25 EPS of $5.44 vs. $5.04 cons, and think CMI will announce new capacity additions in power generation that would bolster excitement around data center exposure. Our 2026e EPS is ~12% above consensus and we think our estimate might prove conservative."

Ticker: IRON

Year-to-date performance: +1%

Thesis: "The FDA accelerated IRON's review process for Bitopertin for the treatment of EPP (VEmpire's disease) from 10 months expects approval and launch of Bitopertin late Jan / early Feb 2026 and we see asymmetric risk to the upside here."

Ticker: DOCS

Year-to-date performance: -11%

Thesis: "Concerns over competition from OpenEvidence have weighed heavily on DOCS, creating an attractive setup into earnings on Feb 5. Our checks suggest solid underlying momentum for digital ads targeting HCP and Doximity continuing to grow above the market."

Ticker: GEN

Year-to-date performance: -6%

Thesis: "We believe the setup skews favorable: Shares are down ~5% YTD. Guidance implies revenue growth of 24.8% (at midpoint), a modest deceleration from Q2 levels and implying Q/Q growth of 08% (vs. 1.2% in 3Q25)."

Ticker: PLTR

Year-to-date performance: -6%

Thesis: "We believe PLTR can deliver >70% Y/Y revenue growth and 55%+ operating margin, implying ~8pts of acceleration and ~5pts of margin expansion vs Q3 while beating consensus expectations by ~6% and ~4%pts, respectively."

Ticker: RNR

Year-to-date performance: -1%

Thesis: "A benign catastrophe season in 4Q25, as well as Bermuda tax credit in the quarter, should translate to strong underwriting results for the Property segment, which could lead to upside surprise on EPS and capital return (share repurchases)."

Ticker: LUV

Year-to-date performance: +1%

Thesis: "LUV's Jan 27 rollout of assigned seating looks like a binary outcome for the stock. We would not be surprised if mgmt. introduced reformatted guidance or even EPS guidance (this could be a catalyst) with the 4Q25 earnings release on January 29."

Ticker: V

Year-to-date performance: -6%

Thesis: "Visa could raise the FY26 outlook it gave in October. We've found that since 2018, Visa tends to guide out-FY in-line to slightly below consensus, and then beats handily."

Ticker: WDC

Year-to-date performance: +39%

Thesis: "We expect revenue outperformance in the December quarter with strong GM upside, accelerating buybacks, and opex leverage to drive 4% positive revisions to consensus EPS in March quarter. WDC's February 3rd 'Innovation Day' is a likely catalyst as well."