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Beware if you hold these stocks heading into earnings season, Piper Sandler says

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Dow Jones Industrial Average,Paramount Global,Nordstrom Inc

The Wall Street firm listed the companies it thinks are most at risk of missing their earnings results for the third quarter.

Earnings season is right around the corner, and there are some stocks investors should be wary of, according to Piper Sandler. The season unofficially kicks off this week, with JPMorgan's third-quarter results due Friday before the bell, and it ramps up from there. This comes as October has already been a volatile month for stocks – on par with historical trends , especially during election years.

Discovery , Paramount's fell about 5% on July 8 after it finally agreed to merge with Skydance just days after deal talks were reignited . Ahead of its planned merger, Paramount began its second phase of planned layoffs in the U.S. late last month as part of its efforts to reduce annual costs by $500 million. That said, Wall Street is mixed on the name. Of the 27 analysts covering the stock, 13 have taken a neutral stance and 10 have an underperform or sell rating, according to LSEG.

 

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