10 stocks to keep buying after an earnings beat

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With the earnings season underway and momentum traders everywhere betting on the stocks that will exceed or fall short of the consensus views, there's a different approach to making a profit: Wait for the results to come out.

Several studies have documented that stocks show a tendency to follow the direction of an earnings surprise for many weeks or even months after an earnings announcement. These stocks experience what academics call "Post Earnings Announcement Drift."

According to the theory, companies that deliver solid results, on average, will experience excess returns in the weeks following the report, not just the day after.