67 S&P 500 companies reported earnings October 19-23. 64% beat analysts' earnings estimates, below the 19-year average of 74% and 34% beat on revenue. The market rewarded beats and punished misses: the typical beat moved the stock +1.8%, the typical miss -0.0%. The biggest reaction was Equifax (+11.3%); the worst was Lam Research (-11.8%). Equifax jumped 11.3% after it beat estimates, despite a cut to its outlook1. Lam Research fell 11.8% after it missed estimates, and an analyst cut its price target2.
Sectors with at least three reports. Communication Services beat most often (100%); Consumer Discretionary least (38%).
| Company | Sector | Result | Stock reaction | Also in the news |
|---|---|---|---|---|
| Equifax (EFX) | Industrials | beat | +11.3% | Despite a cut to its outlook1. |
| Hasbro (HAS) | Consumer Discretionary | beat | +11.2% | After the company raised its outlook3. |
| Allegion (ALLE) | Industrials | beat | +11.0% | No other news |
| Roper Technologies (ROP) | Information Technology | beat | +9.7% | After the company raised its outlook4. |
| Blackstone (BX) | Financials | beat | +8.4% | No other news |
| Nasdaq (NDAQ) | Financials | matched | +7.5% | After a report of possible takeover talks5 and a product launch6. |
| Lockheed Martin (LMT) | Industrials | beat | +7.0% | After the company raised its outlook7. |
| CSX (CSX) | Industrials | beat | +6.8% | No other news |
Reaction = the stock's move on the first trading day that could respond to the report (that day for reports before the open, the next day for reports after the close).
| Company | Sector | Result | Stock reaction | Also in the news |
|---|---|---|---|---|
| Lam Research (LRCX) | Information Technology | missed | -11.8% | After an analyst cut its price target2. |
| Meta Platforms (META) | Communication Services | beat | -7.0% | After legal or regulatory scrutiny (Bloomberg: “Australia Set to Sue Facebook, TikTok in Child-Safety Push”)8. |
| General Motors (GM) | Consumer Discretionary | missed | -6.8% | No other news |
| AT&T (T) | Communication Services | beat | -6.4% | Despite a raised outlook9. |
| Netflix (NFLX) | Communication Services | beat | -5.3% | After merger and acquisition news10. |
| Genuine Parts Company (GPC) | Consumer Discretionary | matched | -5.1% | No other news |
| GE Aerospace (GE) | Industrials | beat | -3.7% | No other news |
| Snap-on (SNA) | Industrials | missed | -3.4% | No other news |
5 companies beat estimates and still fell more than 3%, including Meta Platforms, Tesla, GE Aerospace: a beat that was already expected, or weaker guidance, can outweigh the headline number.
| Company | Sector | Result | Stock reaction |
|---|---|---|---|
| Meta Platforms (META) | Communication Services | beat | -7.0% |
| Tesla (TSLA) | Consumer Discretionary | beat | -3.1% |
| Procter & Gamble (PG) | Consumer Staples | beat | +5.6% |
| Philip Morris International (PM) | Consumer Staples | matched | -1.2% |
| GE Aerospace (GE) | Industrials | beat | -3.7% |
| Lam Research (LRCX) | Information Technology | missed | -11.8% |
| Netflix (NFLX) | Communication Services | beat | -5.3% |
| RTX (RTX) | Industrials | matched | +0.6% |
| Texas Instruments (TXN) | Information Technology | beat | -1.8% |
| Thermo Fisher Scientific (TMO) | Health Care | beat | +1.0% |
Subscribers see where the model ranks every company after its report, and whether the model portfolio holds it.
See plansReported results and estimates from the earnings calendar; reactions from Torvanta's price data. Research only, not investment advice or a recommendation to buy or sell any security. Rankings change as data changes and can be wrong. Torvanta and its founder may hold positions in securities discussed, and trade only after the information is published to all subscribers. Past performance does not guarantee future results.
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