Beware of these stocks at risk of a major earnings 'blowup'

First-quarter earnings season is just getting started, but investors may want to keep a close eye on a group of stocks at risk of a profit "blowup," according to Wolfe Research. The start of the reporting period unofficially kicked off last week with results from most of the biggest banks. That continued this week, with reports from Morgan Stanley, Bank of America and major health insurers such as UnitedHealth.

This week, the Elon Musk-run company also set plans to lay off 10% of its workforce. Tesla scores a 2 on Wolfe Research's earnings quality scale, showing up six times on the firm's short screens. Other electric vehicle stocks also made Wolfe Research's short ideas, including Rivian Automotive . The Irvine, California, EV maker scored a 3 for earnings quality in the fourth quarter of 2023 and appeared on four of Wolfe's short screens. Rivian has tumbled 63% so far in 2024.

Source: News Formal (newsformal.com)

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