20 stocks to buy: Companies cutting jobs means big profits

Investors have sometimes rewarded companies that are cutting jobs or spending recently.Evercore says these 20 stocks have lagged, but should be able to turn their performance around.

Investors"were eager to reward companies early to address bottom line challenges in the context of a labor market historically tight in both supply and cost," wrote Julian Emanuel of Evercore ISI in a recent note to clients. "Cost cutting will be a driver of alpha in the months ahead," wrote Emanuel, who leads Evercore's equity, derivatives and quantitative strategy team and its portfolio strategy team."Share price performances of companies that have announced layoffs are likely to diverge."

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