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Amazon, Cigna: Stocks with Strong Earnings Momentum Next Week

Over 160 S&P 500 companies are reporting Q1 earnings next week, with analysts focusing on firms showing strong earnings momentum. Amazon is expected to report on April 29th, with growth anticipated in AWS, driven by the AI sector's demand for computing power. Cigna Group reports on April 30th, showing improved earnings estimates following a major business restructuring. Both companies have received positive analyst coverage, with price targets suggesting potential upside for investors.

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Amazon, Cigna: Stocks with Strong Earnings Momentum Next Week

Over 160 S&P 500 companies are set to report first-quarter earnings next week, with key players like Amazon and Cigna Group showing notable earnings momentum. These reports cover diverse sectors, from healthcare and consumer discretionary to energy and industrials, providing investors with insights into near-term market health.

Screening Criteria for Strong Momentum

CNBC Pro screened FactSet data to identify S&P 500 companies reporting next week that met specific positive indicators. The criteria for inclusion were:

  • EPS estimates increased by 10% over the past three and six months.
  • Upside potential of 20% or more based on average analyst price targets.
  • A 'Buy' rating from at least 55% of covering analysts.

Amazon: AI Fuels Cloud Growth

Amazon, the e-commerce and internet infrastructure giant, is scheduled to report its earnings on Wednesday, April 29. The company's recent earnings estimates have improved, partly due to the adoption of custom AI training accelerators like Trainium chips by Anthropic for its Claude Mythos model.

Analyst consensus estimates for Amazon's earnings are:

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  • $1.63 per share (according to FactSet).
  • A 363% increase from three months ago.
  • A 692% increase over the past six months.

Amazon is anticipated to report robust first-quarter results, primarily driven by growth in Amazon Web Services (AWS). The cloud platform is experiencing a sales resurgence fueled by the AI boom, increasing demand for computing power, storage, and content delivery services.

  • Analyst Outlook: Truist Securities rates Amazon a 'Buy' (aligned with nearly 80% of analysts) with a price target of $285, suggesting potential upside. Analysts expect AWS revenue growth to accelerate, supported by partnerships with OpenAI and Anthropic, and new data center capacity coming online in 2026.

Cigna Group: Post-Restructuring Stability

Global health insurer Cigna Group will report its first-quarter earnings on Thursday, April 30. The company has demonstrated strong recent earnings momentum following a significant business overhaul.

Key financial estimates for Cigna include:

  • Estimated earnings of $7.60 per share for the first quarter (FactSet).
  • A 26% increase over the past three months.
  • A 44% increase over the last six months.

Bank of America noted that Cigna's strategy, which involves passing more discounts to commercial health plan clients, could boost its stock. The bank maintains a 'Buy' rating, projecting that Cigna could compound its EPS by 10-15% annually from 2026 onward, focusing on its commercial and pharmaceutical segments.

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