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At midday, the major benchmarks are modestly higher, with individual stocks moving on earnings news. The yield on the benchmark 10-year Treasury note is two basis points higher at 4.44%. Crude oil is up at $80 per barrel. Gold is also up, while Bitcoin is down.

Management's ability to "raise guidance" can often be a catalyst for market-beating returns in the quarters ahead. The first-quarter earnings season has crossed the 90% mark and is wrapping up, with blended earnings (actual results and the consensus for those still to report) showing a year-over-year gain of almost 7%, according to Refinitiv. That is considerably better than the 4%-7% advance expected at the start of the earnings period. Leading the outperformance were strong gains in Communication Services earnings, up 43%, and Consumer Discretionary, up 26%. On the flipside, Healthcare and Energy, both down 24%, are performing the worst. Our analysts are always on the lookout for companies that boost outlooks during earnings season, as this is often a signal for momentum in the months ahead. Here is an initial list of BUY-rated companies in the Argus Fundamental Universe of Coverage at which management raised guidance or increased its outlook during the 1Q24 EPS reporting season.

Wisconsin-based Oshkosh is an industrial manufacturer of specialty vehicles and truck bodies. The company has 11 brands and three reporting segments: Access Equipment, Defense, and Vocational. The company has approximately 17,300 employees. The shares are a component of the S&P 400 Mid-Cap Index.

Enovis provides med-tech products and services under a range of brand names, including DJO Surgical, Mathys, and Motion MD/Motion IQ. The company employs approximately 6,500 people. The shares are a component of the S&P 400 MidCap Index.