Earnings season is the heartbeat of the market, and every day brings fresh signals about where money is flowing. With each report, we learn not just how companies are performing, but how investors are reacting. In the Daily Beat, we spotlight the most important S&P 500 earnings moves from the prior session: the winners, the losers, and the reactions that reveal what really matters to the market right now. Whether it's a bellwether with broad economic implications or a niche name making waves, we cut through the noise to focus on the setups that matter most. |
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Here are the top beats from the S&P 500 👇 |
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*Click the image to enlarge it Thursday's top beat came from the $118B medical distribution stock, McKennson $MCK. After beating its headline expectations, shareholders were rewarded with a 10.28 reaction score. This was the stock's best earnings reaction ever. In the report, MCK posted revenues of $106.16B, beating the expected $105.80B, and earnings per share were $9.34, above the expected $9.17. MCK's peer, Cardinal Health $CAH, also had an incredible earnings reaction after a double beat. |
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Here are the bottom beats from the S&P 500 👇 |
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| *Click the image to enlarge it Thursday's bottom beat came from the $35B household and personal products stock, Estée Lauder EL. Despite a big double beat, shareholders suffered a -6.41 reaction score. EL reported revenues of $4.23B, meeting the market's expectations, and earnings per share of $0.87, beating the expected $0.84. We also saw the nearly $4T technology juggernaut, Alphabet $GOOG, fall slightly after beating top- and bottom-line expectations. Let's talk about what else happened 👇 |
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MCK had its best earnings reaction ever🔥 |
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McKesson had a +16.5% post-earnings reaction, and here's what happened: |
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- Revenues increased by 11% year-over-year, and net income surged 35% over the same period.
- The Oncology and Multispecialty segment drove this quarter's growth, with revenues ballooning 37% year-over-year and operating profit increasing 57% over the same period.
- In addition to the blockbuster earnings report, the management team dramatically raised its forward EPS guidance.
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Since bottoming in April 2025, McKesson has surged higher by over 100%. It has been one of the best healthcare stocks in the S&P 500. Heading into the price, volatility was in one of the tightest compressions we've seen in years. It was clear that a big move was coming; we just didn't know which way. As it turns out, the consolidation resolved in the direction of the underlying technical and fundamental trend. And it couldn't have done so in a more decisive way. The stock just had its best earnings reaction ever. With strong technical and fundamental momentum, we expect MCK to continue trending higher for the foreseeable future. |
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EL has been punished for 7 of its last 8 earnings reports🐻 |
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Estee Lauder had a -19.2% post-earnings reaction, and here's what happened: |
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- Net sales increased by 6% year-over-year, led by 6% growth in the Skin Care and Fragrance business segments.
- Gross margin expanded 40 basis points to 76.5% compared to last year, driven by operational efficiencies.
- In addition to the strong quarter, the management team raised its operating margin and EPS forward guidance.
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Everything about this earnings report was incredible. Even the guidance. Yet, the market wanted nothing to do with it. The stock tanked and reversed months of hard work by the buyers. But this isn't anything new. We've seen the market punish shareholders for this stock's earnings events for years. Now the technicals are confirming what we've been seeing in the fundamentals. From here, we expect EL to continue declining toward the key polarity level highlighted on the chart. Happy Friday! -The Beat Team |
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STAY HUNGRY. STAY FOOLISH |
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