Earnings growth may come from these names: Experts

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Even in a rough earnings season, some segments should enjoy big profit growth, experts said Monday.

Third-quarter earnings are expected to drop more than 5 percent from last year, according to S&P Capital IQ. But the low expectations mean some stocks could surprise.

"Something is telling me this earnings season is going to be a little better than people expect," said Jack Bouroudjian, chief investment officer at Index Financial Partners, in a "Closing Bell" interview.

Consumer discretionary

Consumer discretionary names should see the best third-quarter growth of any sector, said Lindsey Bell, a senior analyst at S&P Capital IQ. S&P 500 consumer discretionary stocks have climbed 8 percent this year.

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Bell pointed to Netflix, which posts results Wednesday. She noted that Nike and Darden Restaurants have already reported and beaten expectations.

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Investors eyeing growth can find it in biotechnology and pharmaceutical stocks, Bell added. She said the segment has been "clobbered" despite little change in fundamentals.

"This group still has the best growth in the S&P 500," she said.

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Technology stocks have "the most potential" heading into earnings, said Jeremy Hill, managing director at Old Blackheath. He noted that he is looking for "growth at a reasonable price."

Lower oil prices and a stronger dollar likely will not restrain earnings growth much longer, added David Kelly, managing director and chief global strategist at J.P. Morgan Asset Management.

"I'm actually pretty optimistic on the earnings outlook particularly when you look six months or nine months down the road," he said.