U.S. equities are pushing to new records on Friday thanks to a utopian combination. Earnings growth has been solid. Economic growth is stable if somewhat tepid. Job growth continues. And uneven inflation is keeping the Federal Reserve’s policy tightening relatively tender in its intensity.
North Korea’s missile launch has had a limited response. And President Trump is even making overtures to Congressional Democrats.
How long will the tranquility last? No one can say. The Fed will likely start pulling back its balance sheet next week. September is historically a poor performing month for stocks. And we’ve yet to see actual proposals on taxes and the budget.
For now none of this matters. So here’s a look at seven stocks driving the S&P 500 higher.
S&P 500 Stocks to Buy: First Solar (FSLR)
First Solar, Inc. (NASDAQ:FSLR) shares are surging on Friday, up nearly 6%, after analysts at Deutsche Bank updated the stocks to Buy from Hold. The move pushes the stock up and out of a three-month consolidation range after finding support at the 50-day moving average.
The company will next report results on November 2 after the close. Analysts are looking for earnings of 82 cents per share on revenues of $797.6 million.
When the company last reported on July 27, earnings of 64 cents beat estimates by four cents despite a 38.7% drop in revenues. Needham Research analysts called the results strong and raised their full-year guidance, as a result, thanks to strong demand for solar from U.S. utilities.
S&P 500 Stocks to Buy: Boeing (BA)
Boeing Co (NYSE:BA) shares are pushing up and out of a three-month consolidation range thanks in part to a price-target increase by Deutsche Bank analysts to $300 from $280 previously.
Recent orders include a $600 million contract modification to replace the Air Force One fleet with new 747-800s. A recent investor conference, management noted the intent to start delivering 777x aircraft in 2020.
BA will next report results on October 25 before the bell. Analysts are looking for earnings of $2.64 per share on revenues of $23.86 billion. When the company last reported on July 26, earnings of $2.55 beat estimates by 24 cents despite an 8.1% decline in revenues.
S&P 500 Stocks to Buy: Nvidia (NVDA)
Nvidia Corporation (NASDAQ:NVDA) shares are soaring more than 6% to a new high — breaking out of a three-month consolidation range — on positive analyst coverage from Evercore ISI.
Plus the fact the company hasn’t missed earnings expectations in more than two years amid revenue growth of more than 50% in each of the last four quarters. As a result, Evercore ISI is looking for a price target of $250.
The company will next report results on November 9 after the bell. Analysts are looking for earnings of $1.07 per share on revenues of $2.36 billion. When the company last reported on August 10, earnings of $1.01 beat estimates by 19 cents on a 56.2% rise in revenues.
S&P 500 Stocks to Buy: eBay (EBAY)
EBay Inc (NASDAQ:EBAY) shares are testing near $39 amid a push to new highs, up roughly 15% from its mid-August low, after getting a lift from the initiation of coverage on Thursday from analysts at DA Davidson.
They assigned a $45 price target, which would be worth nearly a 17% gain from here.
The company will next report results on October 18 after the close. Analysts are looking for earnings of 48 cents per share on revenues of $2.4 billion. When the company last reported on July 20, earnings of 45 cents matched estimates on a 4.4% rise in revenues.
S&P 500 Stocks to Buy: Caterpillar (CAT)
Caterpillar Inc. (NYSE:CAT) is pushing further above the $120-a-share level after holding a well-received investor conference earlier in the week noting a turnaround underway in the mining sector as commodity prices recover.
Management noted the company is well positioned to take advantage of the recovery thanks to its balance sheet strength and a recent pivot to focus on recurring services revenue streams.
The company will next report results on October 24 before the bell. Analysts are looking for earnings of $1.24 per share on revenues of $10.6 billion. When the company last reported on July 25, earnings of $1.49 beat estimates by 23 cents on a 9.6% rise in revenues.
S&P 500 Stocks to Buy: Texas Instruments (TXN)
Texas Instruments Incorporated (NASDAQ:TXN) shares are up 1.3% in mid-day trading on Friday, pushing above the $84-a-share level, lifting out of a trading range going back to June.
This represents a gain of more than 10% from the low set in early July. Investors are responding to a general lift in Apple Inc. (NASDAQ:AAPL) suppliers in the wake of the iPhone X debut earlier this week.
The company will next report results on October 25 after the close. Analysts are looking for earnings of $1.15 per share on revenues of $3.9 billion. When the company last reported on July 25, earnings of $1.03 beat estimates by seven cents on a 12.8% rise in revenues.
S&P 500 Stocks to Buy: BorgWarner (BWA)
BorgWarner Inc. (NYSE:BWA) shares are on the move returning to levels not seen since the summer of 2015 amid broad strength in auto parts makers on an anticipated rise in sales related to the recovery from Hurricane Irma and Hurricane Harvey. Shares are up nearly one-third from the lows set in early April.
The company will next report results on October 26 before the bell. Analysts are looking for earnings of 86 cents per share on revenues of $2.2 billion. When the company last reported on July 27, earnings of 96 cents per share beat estimates by seven cents on a 2.5% rise in revenues.
Anthony Mirhaydari is the founder of the Edge (ETFs) and Edge Pro (Options) investment advisory newsletters. Free two- and four-week trial offers have been extended to InvestorPlace readers.
