Wall Street witnessed wild swings in October, thanks to multiple woes including rising interest rates, political turbulence in Italy, Saudi tensions, tech sell-off, escalating US-China trade war and the prelude to mid-term election. The chaos resulted in S&P 500 posting its worst monthly performance since 2011.

After slipping into a correction territory, the index rebounded somewhat this week to close at down 6.9% for the month, buoyed by a slew of strong earnings as well as upbeat economic data that lifted investors’ sentiment. According to data from Howard Silverblatt of S&P Dow Jones Indices, the S&P 500 plunge shaved off $1.91 trillion in market cap last month with Amazon (AMZN - Free Report) , Microsoft (MSFT - Free Report) , NVIDIA (NVDA - Free Report) , Facebook (FB - Free Report) and Apple (AAPL - Free Report) bearing the brunt.

The slowdown in global growth, especially in a few developing and developed economies, added to the woes. The International Monetary Fund recently slashed its global growth forecast by 0.2 percentage points for this year and the next, citing trade tensions between the United States and its trading partners, which have started to hurt economic activity worldwide.

A number of stocks incurred heavy losses last month. Below, we have highlighted five such stocks from the S&P 500 Index that were hit badly by market turmoil but might reverse the trend, given solid Zacks Rank #1 (Strong Buy) or 2 (Buy) and a solid VGM Score of B or better. Further, these stocks saw positive earnings estimate revisions last month and belong to a top-ranked Zacks Industry (top 45%), suggesting bright prospects.

Newfield Exploration Company (NFX  - Free Report) – Down 32%

This company explores, develops and acquires oil and natural gas properties primarily in the Gulf of Mexico. It witnessed solid earnings estimate revision of 9 cents for this year last month and has an expected growth rate of 65.1%. Newfield Exploration has a Zacks Rank #2 and a VGM Score of A. It further belongs to top-ranked Zacks industry (top 12%).

Newfield Exploration Company Price and Consensus

Newfield Exploration Company Price and Consensus | Newfield Exploration Company Quote

Amazon.com Inc. (AMZN - Free Report) – Down 22.4%

It is engaged in the retail sale of consumer products and subscriptions in North America and internationally. It saw solid earnings estimate revision of $1.76 for this year in the past month and is expected to generate whopping earnings growth of 321.8%. The stock has a Zacks Rank #2 and a VGM Score of B. It belongs to the top-ranked Zacks industry (top 44%).

Amazon.com, Inc. Price and Consensus

Amazon.com, Inc. Price and Consensus | Amazon.com, Inc. Quote

Bristol-Myers Squibb Company (BMY - Free Report) – Down 22.4%

This company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. It saw solid earnings estimate revision of 19 cents for this year during the last month and is expected to register earnings growth of 26.6%. BMY carries a Zacks Rank #1 and has a VGM Score of A. It belongs to a top-ranked Zacks industry (top 31%).

Bristol-Myers Squibb Company Price and Consensus

Bristol-Myers Squibb Company Price and Consensus | Bristol-Myers Squibb Company Quote

Eaton Corporation PLC (ETN - Free Report) – Down 19.9%

This power management company is a provider of electrical products, systems and services for power distribution and control, power transmission, lighting and wiring products; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. The company saw positive earnings estimate revision of a penny for this year over the past month and has estimated growth rate of 15.48%. The stock has a Zacks Rank #2 and a VGM Score of B. It belongs to a top-ranked Zacks industry (top 36%).

Eaton Corporation, PLC Price and Consensus

Corporation, PLC Price and Consensus | Eaton Corporation, PLC Quote

CF Industries Holdings Inc. (CF - Free Report) – Down 17.1%

This company is the global leader in transforming natural gas into nitrogen products. It witnessed positive earnings estimate revision of 9 cents for this year last month and has an expected growth rate of 708%. CF Industries has a Zacks Rank #1 and a VGM Score of A. It further falls into a top-ranked Zacks industry (top 5%).

CF Industries Holdings, Inc. Price and Consensus

Industries Holdings, Inc. Price and Consensus | CF Industries Holdings, Inc. Quote