Heading into today, stocks that have reported earnings this week have seen their share prices initially react positively to the news.  Using our Earnings Screener, below we show the 18 stocks that had reported earnings this week through yesterday morning.  The first column next to the stock ticker shows the amount that the stock gapped up or down at the first open of trading following its earnings report.  As you can see, 17 of 18 stocks have gapped up in reaction to their earnings reports.  On average, the gap up for these 18 stocks has been +2.22%.

Things look a little different from the open to close of trading, though.  In fact, 12 of the 18 stocks that have reported earnings have traded lower from the open to the close on their earnings reaction days, for an average open to close decline of 0.74%.

The trend is clear (although the sample size is relatively small).  So far, we’re seeing a very positive initial stock price reaction to earnings, but then selling has dominated the trading day.

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