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 latest earnings stats from the S&P 500 👇 |
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*Click the image to enlarge it At the top of Friday's Beat Sheet was the $15B software stock, Gen Digital $GEN. After beating headline expectations across the board, shareholders were rewarded with a +2.88 reaction score. GEN reported $1.24B in revenue, beating the expected $1.23B, and earnings per share of $0.64, beating the expected $0.63. The beat/beat/pop from Biogen $BIIB also stood out to us. At the bottom of Friday's list was the $7B company that provides government-sponsored health insurance plans, Molina Healthcare $MOH. Following a mixed earnings report, shareholders were punished with a -9.22 reaction score. MOH's revenues came in at $11.38B, beating the expected $10.88B, and earnings per share of -$2.75, dramatically below the expected $0.34. The negative earnings reaction from Amazon $AMZN also stood out to us. Let's talk about what else happened 👇 |
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BIIB had its best earnings reaction since 2019🔥 |
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Biogen had a +8.5% post-earnings reaction, and here's what happened: |
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- While the company's flagship product growth is slowing, its new products are performing very well. For example, Leqembi (their Alzheimer's therapy) grew sales by 140% year-over-year.
- The late-stage pipeline expanded significantly, with key readouts and regulatory milestones expected in 2026 and beyond.
- Total revenue for 2026 is projected to decline by a mid-single-digit percentage due to erosion in the flagship portfolio. This should be partially offset by growth in new products.
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Since peaking in 2021, this has been one of the hottest messes in the pharma industry. In late 2024, the stock completed a massive top and entered a brand-new primary downtrend. However, the sellers have lost control of the short- to intermediate-term trend. Now the price is on the cusp of scooping-n-scoring. And this quarter's dramatic shift in earnings sentiment confirms the buyers are back. The worst has been priced in, and the risk is to the upside in BIIB. |
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MOH had its worst earnings reaction ever🩸 |
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Molina Healthcare had a -25.5% post-earnings reaction, and here's what happened: |
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- The company reported negative EPS due to a massive claw-back from the state of California.
- EPS for 2025 came in at $11.03 versus the initial guidance of $24.50. This represents a 55% miss.
- Last quarter, the management team said it expects EPS of $14.00 2026. This quarter, they cut this to $5.00, a 64% reduction.
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This was one of the worst earnings reports we've seen all season, and the market's response reflects that. The stock had its worst earnings ever. While the technicals and fundamentals are already pointing lower, Friday's beatdown accelerated the downside momentum. With MOH trading at fresh 6-year lows, the path of least resistance is decisively lower for the foreseeable future. Cheers to a new week! -The Beat Team |
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Editor's Note: The Beat Report is on sale. Miss Thursday's call with Steve Strazza? Catch the 35-minute replay to see why stocks drop after "good" earnings, the 3-step checklist we use before every trade, and the specific options setup we prefer for earnings plays.
We're running a special offer this week, but it ends Thursday at midnight ET. Start your risk-free trial now before the price goes up. |
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STAY HUNGRY. STAY FOOLISH |
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