Get ready, traders: These stocks are expected to have the biggest moves on earnings this week

Published Mon, Apr 29 20243:46 PM EDTUpdated Mon, Apr 29 20244:28 PM EDT

As the busy first-quarter earnings season moves along, several stocks still set to report could be due for big swings. First-quarter earnings have boosted stocks this week, as more than 77% of companies in the S & P 500 have exceeded analysts' expectations, according to FactSet. The S & P 500's year-over-year earnings growth for the first quarter is running at about 5.6%, according to Friday data from LSEG . This week, nearly one-third of the companies in the S & P 500 and 20% of the Dow Jones Industrial Average are set to report earnings. The names on tap range from big-name AI plays Super Micro Computer and Amazon to health-care giants such as Moderna . CNBC Pro screened for the names with options expiring Friday that could see significant post-earnings moves either up or down, based on investors' expectations in the options market. We took 85% of the total premium of an at-the-money straddle and used that to calculate the price movement. Here are the names that fit the criteria: Peloton has the highest expected implied post-earnings move, at 21%, according to FactSet. The stock, which gained roughly 3% on Monday, has fallen more than 46% this year as it has struggled to retain app subscribers. Earlier this year, the home fitness brand quietly removed its unlimited free-membership tier for its app less than a year after its debut, after the company found that it failed to convert enough users into paid subscribers. Ahead of Peloton's earnings, due Thursday, Bank of America analyst Curtis Nagle reiterated his underperform rating and $3.25 price target, which suggests shares could gain just 1.3%. "Despite new initiatives such as launch of partnership with TikTok in Jan, we still remain cautious on subscriber growth which is yet to pick up," Nagle wrote in a Monday note. "In our opinion, a return to sustained user growth (along with cost efficiencies and moving out debt maturities) would be required for a meaningful improvement in investor sentiment and share price." Chipmakers Super Micro Computer and Advanced Micro Devices could also see some major moves this week, as they could rise or fall as much as 12.6% and 7.4%, respectively. Both stocks are down more than 11% this year, losing some steam as the rally in chipmakers cooled off in recent weeks. JPMorgan maintained its bullish position on Super Micro heading into the company's earnings on Tuesday, reiterating its overweight rating and $1,150 target price, implying more than 34% potential upside. Despite the stock's drop this quarter, the firm said its long-term expectations for Super Micro's revenue and market share, as part of the overall AI server market, remain unchanged. "Super Micro is positioned with a strong product portfolio, which includes full rack scale solutions and liquid cooled systems, and a unique building block approach to product development that enables quick product refreshes amid the AI-led strong compute demand outlook," JPMorgan analyst Samik Chatterjee said. Image-sharing platform Pinterest could swing up or down by 11.2%, respectively, per FactSet. According to Goldman Sachs, Pinterest could see higher first-quarter revenue in part due to a stronger digital advertising environment. The company's revenue could slightly struggle in the second half of this year, however, the firm said, while still maintaining its buy rating.