Earnings season gets started this week with some heavy hitters, but some smaller stocks might provide investors with a nice trading boost this reporting season, according to Bank of America. In a note to clients on Thursday, Bank of America strategists Jill Carey Hall and Savita Subramanian put together a list of small and mid cap stocks that could produce surprises during the third quarter earnings season. "With 3Q earnings kicking off next week, we screen for small/mid caps that could surprise to the upside/downside, based on based on Buy/Underperform-rated stocks where our analysts' estimates are above/below consensus and which beat/missed last quarter," the note said. Here are some of the notable buy-rated stocks with earnings upside from the Bank of America list. One of the most notable names on the list is discount airline JetBlue . The company has not yet announced its third-quarter report date, but 2020's report came in late October. JetBlue's stock has underperformed the broader market this year and has even retreated slightly over the past three months. The company's forward guidance is likely to be an important topic on its investor call, as analysts and shareholders focus on the airlines outlook for 2022 when the economy is more fully open. Another reopening play on the list is casino operator Boyd Gaming . The company is slated to report its third-quarter earnings on Oct. 26, and its stock has gained nearly 50% year to date. Additionally, all of Boyd's casinos are located in the United States. Some larger casino stocks have been hurt by a regulatory review in Macao that has clouded the future for foreign-owned casinos in that city. The list also includes several banks, including First Hawaiian and First Horizon . Major banks start reporting earnings in mid-October, and rising interest rates could improve the outlook for bank earnings over the next year. -CNBC's Michael Bloom contributed to this report.
JetBlue's new Airbus A321neo at New York's Kennedy Airport.
Leslie Josephs | CNBC
Earnings season gets started this week with some heavy hitters, but some smaller stocks might provide investors with a nice