Below is a chart showing the number of earnings reports by day over the next month. As you can see, this week is the last big one for the Q1 earnings season, as the number of reports per day drops dramatically next week and beyond.
Stock prices have been reacting more negatively to earnings this season compared to recent quarters. Below is an updated look at the median one-day change that stocks are experiencing on their earnings reaction days on a rolling three-month basis. Over the last three months, stocks that have reported earnings have seen a median one-day gain of 0.11% in reaction to the news. While still positive, the current reading is much lower than where it was back in February when the median one-day gain was above 0.70%. Back in February, we were still in the early days of the post-correction rally, and investors were bidding up shares sharply after earnings after results showed that the Q4 market correction was likely overdone.
From our Earnings Explorer page available to Bespoke Institutional members, you can see which stocks have reacted the most positively or negatively to their earnings reports over any time frame. Below we show the stocks that have gained or lost more than 20% on their earnings reaction days this earnings season. Ironically, there have been 13 stocks that have gained 20%+ and 13 stocks that have fallen 20%+. Impinj (PI) and Zixi (ZIXI) have been the two biggest winners this season with one-day gains of more than 34%. ENPH, LOVE, and NUS round out the top five with gains of more than 26%. Other notable winners include Chinese companies CYOU and SOHU along with the “eBay of Latin America” — MercadoLibre (MELI).
Consolidated Communications (CNSL) has been the biggest loser this season with a one-day decline of 34.2% on April 25th. Eventbrite (EB) ranks second worst with a drop of 27.12% on May 2nd, followed by ASTE, PBI, and FLR. Other notables on the list of biggest losers this earnings season include iRobot (IRBT), Frontier Communications (FTR), and MarineMax (HZO). Start a two-week free trial to Bespoke Institutional to access our Earnings Explorer tool and everything else on our website.