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Earnings season is winding down, but this week features the reports of several companies that usually report better earnings than Wall Street expects.
More than 60% of companies in the S&P 500 have reported results, and more than 70% have beaten expectations as of Thursday, according to FactSet.
Five large companies reporting this week have consistently topped estimates during the past four years, or more, according to Bespoke. That doesn't make them sure-fire buys, however, as two have seen their shares decline on average, despite the beats.
Arch Capital almost always beats its earnings estimates, but it doesn't seem to earn a big boost from investors.
The insurance company, whose stock has risen about 50% over the past year, reports its fourth quarter results on Tuesday. It's average one-day stock performance after earnings is slightly negative.
However, the share price has risen after earnings beats in its two previous fourth-quarter results, according to FactSet. Shares gained 3.7% gain in 2019 and 0.6% in 2018.
The security technology company beats earnings expectations more than 95% of the time but usually sees only a healthy one-day stock price gain.
Qualys, which has a market cap of $3.5 billion, will report its fourth-quarter results on Wednesday.
When it reported results for the same quarter last year, earnings exceeded expectations but the stock fell more than 14% in a day. However, shares had risen sharply in the days before the report. The stock is up about 6% this year.
The software company typically beats Wall Street estimates by more than 10%, according to FactSet.
RingCentral, which reports on Monday, has seen its shares rise after eight of the last nine quarterly reports. Its average one-day gain after earnings over time is more than 4%, according to Bespoke.
Shopify missed earnings estimates for the first time the previous quarter, according to FactSet. The company has had a strong track record since going public in 2015, and its shares rise by about 3.8% on average following a report, according to Bespoke.
The e-commerce company reports earnings on Wednesday, and its stock is already up about 20% this year.
Like Arch Capital, Cisco Systems has seen its stock decline in the day after earnings reports, on average, despite beating earnings expectations.
The tech company's stock has taken a hit after each of the last two earnings reports, but those reports included forward earnings guidance where the top end of the range was below estimates, according to FactSet.
Cisco reports earnings on Wednesday.
Correction: This story was revised to correct that earnings reports for the five companies are being released this week.