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These rags-to-riches stocks could be earnings standouts

Earnings season picks up this week with investors frantically searching for companies that are poised to beat. After a strong session from the banks capped off last week, earnings prospects appear to be picking up. The earnings recovery that was once believed to be delayed by the shocking Brexit vote could come into full effect as early as this week.

Beaten-down companies of 2015 are showing signs of reversing their past misfortunes as we head into the heart of earnings season. These rags-to-riches stories come from some of the most unsuspecting companies, including General Motors, AMD, Pandora, and General Electric. Their earnings will come in the shadows of reports from tech giants such as Microsoft and Intel, but they could very well be the true stars this week.

General Motors kicks things off with its second quarter report Wednesday before the opening bell. The carmaker is an American icon but that hasn't done much in term of earnings or growth. Prior to last quarter, revenue growth had floundered in the range of flat to negative single-digit losses.

The historic rebound in car sales has helped General Motors regain its share in the Unite States and internationally. Tepid oil prices have helped move high-margin, gas-guzzling SUVs, trucks and luxury vehicles in the past year. More importantly, GM's continued success is allowing it to invest in advanced technology and innovations to compete with Tesla and Uber. Earlier this year the company invested $500 million into Lyft with the hope of launching a self-driving car service in the near future.

Analysts are calling for earnings per share of $1.51 on $39.11 billion in revenue, according to the Estimize consensus data. Compared to a year earlier this predicts as a 19 percent...