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Wall Street bulls are raging since the beginning of 2019 barring some minor fluctuations. After completing the best first quarter in more than two decades, all three major stock indexes -- the Dow, S&P 500 and Nasdaq Composite -- are currently within striking distance of all-time highs.

First quarter earnings results are not as disappointing as expected initially. However, the forecast of an overall earnings dip for the first time since the second quarter of 2016 still looms large. Despite this, a few big corporates are set to handsomely bea t earnings estimates this week.  

Better-Than-Expected First-Quarter Earnings

As of Apr 18, 77 companies on the S&P 500 Index reported first-quarter 2019 earnings results. Total earnings of these companies were up 0.2% year over year on 2.5% higher revenues. Total earnings for the benchmark index are now expected to be down 3.2% from the same period last year on 4.6% higher revenues. This would be an improvement from an expected earnings decline of 3.9% estimated nearly three weeks ago.

5 Top Stocks Likely to Storm Wall Street

We have narrowed down our search to five large companies which will release their earnings results this week. Each of these stocks carries a Zacks Rank #2 (Buy) and has a positive Earnings ESP . Our research shows that for stocks with the combination of a Zacks Rank #3 (Hold) or better and a positive Earnings ESP, the chance of an earnings beat is as high as 70%. These stocks are expected to soar after earnings release irrespective of already solid gains year to date.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

Amazon.com Inc. AMZN : Seattle, WA-based Amazon.com is one of the largest online retailers, with extensive operations in North America, now spreading across the globe. Its division Amazon Web Services (AWS) has become a dominant name in the cloud-computing market.

Although the primary product line was books at first, the company rapidly diversified to include a host of other product categories. The current focus is on building video content, primarily for Prime subscribers because growth prospects in that market are ample.

The expanding customer base of AWS will continue to aid the company's dominance in the global cloud space. Notably, AWS generates much stronger margins than the traditional retail business, which should continue to favor the company's profitability with growth in its product mix.

Amazon.com has an expected earnings growth rate of 32.3% for the current year. It has an Earnings ESP of +10.65% for the quarter to be reported. The company generated positive earnings surprises in the last four reported quarters, with an average beat of 88.8%. The stock has surged 25.6% year to date. Amazon.com is expected to release earnings results on Apr 25, after the closing bell.



Starbucks Corp. SBUX : Seattle, WA-based Starbucks is the leading roaster and retailer of specialty coffee in the world. In addition to fresh, rich-brewed coffees, Starbucks' offerings include many complementary food items and a selection of premium teas and other beverages, sold mainly through its retail stores.

From espresso to specialty roast and ground coffee to a premium single-serve market, Starbucks commands authority in all coffee segments. It is the number one premium packaged coffee brand in America.

 Further, management focuses on increasing its global market share by judiciously opening stores in new and existing markets, remodeling existing stores, deploying technology, controlling costs, aggressively innovating products and building brand.  

Starbucks has an expected earnings growth rate of 12.8% for the current year. It has an Earnings ESP of +3.29% for the to-be reported quarter. The company generated positive earnings surprises in each of the last four reported quarters, at an average of 6%. The stock has advanced 17% year to date. Starbucks is expected to release earnings results on Apr 25, after market close.



PayPal Holdings Inc. PYPL : San Jose, CA-based PayPal Holdings is a technology platform offering online payment solutions. The company offers simple, affordable and highly securitized digital financial payment facilities enabling customers and merchants to access and move their money anywhere, anytime and through any connected device.

One Touch continues to be PayPal's most rapidly adopted product. This platform allows customers to make purchases through a variety of merchant websites or apps without having to enter additional information. Another product, Venmo, continues to bolster PayPal's stake in mobile payments. This application enables the transfer of money between family and friends via mobile devices.

PayPal has an expected earnings growth rate of 19% for the current year. It has an Earnings ESP of +1.06% for the quarter to be reported. The company generated positive earnings surprises in each of the last four reported quarters, with an average beat of 4.9%. The stock has climbed 27% year to date. PayPal is expected to release earnings results on Apr 24, after the closing bell.



Comcast Corp. CMCSA : Based in Philadelphia, PA, Comcast is a global media and technology company with three primary businesses: Comcast Cable, NBCUniversal and Sky. Notably, the Sky has helped Comcast to expand in Europe, where pay-TV penetration is rapidly increasing.

Comcast is deploying 1 Gbps high-speed Internet services that leverage DOCSIS 3.1 technology across its footprint. In an attempt to stay competitive, Comcast has ventured into the U.S. wireless industry as a mobile virtual network operator with the nationwide rollout of its wireless services under the Xfinity Mobile brand. Moreover, the company has gained the rights to offer online TV services nationwide from several unnamed cable networks.

Comcast has an expected earnings growth rate of 11.4% for the current year. It has an Earnings ESP of +4.90% for the to-be reported quarter. The company generated positive earnings surprises in each of the last four reported quarters, with the average being 5.4%. The stock has climbed 23.3% year to date. Comcast is expected to release earnings results on Apr 25, before the opening bell.



Xilinx Inc. XLNX : San Jose, CA-based Xilinx designs and manufactures a broad range of high-performance, high-density programmable logic devices, such as field-programmable gate arrays and complex-programmable logic devices.

Xilinx is well placed to grab any opportunity arising from an increase in adoption of AI technologies, 5G connectivity, autonomous vehicles and IoTs. Xilinx's Ultrascale+ FPGAs witnessed strong demand by data-center operators for providing FPGA-as-a-Service.

Xilinx has an expected earnings growth rate of 23.7% for the current year. It has an Earnings ESP of +2.03% for the upcoming quarterly release. The company generated positive earnings surprises in three of last four reported quarters, with the average positive surprise being 5.7%. The stock has jumped 57.8% year to date. Xilinx is expected to release earnings results on Apr 24, after market close.



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