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Get ready for a wild ride on earnings if you own these stocks

  • MKM Partners' Jim Strugger says Michael Kors, Advanced Micro Devices and Hertz Global Holdings are among the stocks that will move more than 9 percent following the release of their earnings reports.
  • Strugger looked at U.S.-listed companies scheduled to report through Nov. 15 that have market caps larger than $2 billion and options open interest of more than 20,000.
  • Michael Kors shares are expected to move 9.26 percent, Advanced Micro 10.49 percent and Hertz shares 13.45 percent.

Shares of Michael Kors, Advanced Micro Devices and Hertz Global Holdings are among stocks that will move more than 9 percent when the companies report earnings, MKM Partners Derivatives strategist Jim Strugger says.

Strugger looked at U.S.-listed companies scheduled to report through Nov. 15 that have market caps larger than $2 billion and have more than 20,000 outstanding options.

In a note to investors Thursday, Stugger said Michael Kors shares are expected to move 9.26 percent, Advanced Micro 10.49 percent, and Hertz shares 13.45 percent. He didn't specify which direction the stocks would move.

The table below shows 10 of the stocks that are expected to be a wild ride for investors once they report earnings:

Shares of Michael Kors have bucked the downward retail trend this year, rising nearly 12 percent. By comparison, the SPDR S&P Retail exchange-traded fund (XRT) is down 8.8 percent in 2017.

Camilo Lyon, an analyst at Canaccord Genuity, recently raised his price target on Kors share to $58 from $43. "We believe the strategic steps management has recently begun implementing are showing early signs of traction," he said.

Lyon also upgraded the stock to buy from hold. Kors is scheduled to report on Nov. 6.

Advanced Micro's stock has been on fire in 2017, surging more than 26 percent. However, the high-flying semiconductor stock could be in trouble as other companies ramp up the pressure.

Shares of Advanced Micro took a hit last month after Intel unveiled its new Core desktop processors. Patrick Moorhead, principal analyst at Moor Insights & Strategy, said in an email: "I believe the [market] sentiment is driven primarily by belief that AMD poses less of a threat [to Intel]."

Advanced Micro is slated to release its quarterly results on Oct. 24.

Hertz's stock is up 22.3 percent in 2017 and it could see further gains, according to MKM analyst Christopher Agnew.

Agnew reiterated his buy rating on Hertz and raised his price target on the stock to $36 from $22. In a note, he said Thursday that earnings momentum for the car-rental space is "at an inflection point driven by sustained improvement in underlying core fundamentals."

"We see catalysts in the form of balance sheet refinancing at HTZ and improved pricing and used car data points," Agnew said.

Hertz has not said when it will release its calendar third-quarter results.

—CNBC's Tae Kim and John Melloy contributed to this report.

Correction: MKM's Christopher Agnew raised his price target on Hertz to $36 from $22. A previous version of this story misstated the price-target increase.

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