Here are Morgan Stanley’s top picks for the results season

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Pedestrians wearing protective masks walk past a Microsoft Technology Center in New York City on Wednesday, July 22, 2020.Jeenah Moon | Bloomberg via Getty Images

(This story is for CNBC Pro Subscribers only.)Morgan Stanley believes profits hit their lowest level in the second quarter and that the current reporting season offers good buying opportunities for investors.

The bank’s chief U.S. equities strategist Michael Wilson said the consensus for a 21% drop in S&P 500 earnings would be an improvement big enough to confirm the second quarter was the lowest quarter of this cycle. . S&P 500 earnings fell 30.6% in the previous quarter, according to Refinitiv.

The bank has highlighted 15 names that its analysts are very confident about going into earnings season. Company analysts believe that one or more impending event will cause the share price to rise significantly over the next 15 to 60 days.

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