ALGOTHESIS DATA · EARNINGS

What 2,772 earnings reports did to the stock

Every results release from the 685 US companies worth $10B or more on Oct 17, 2026, September 2025 to October 2026, and the stock's first close after it. Technology stocks moved 4.4 times as far as utilities stocks, and a big first move was usually still standing at the fifth close.

AlgoThesis · Oct 17, 2026 · Data: SEC 8-K filings · Closes: Data provided by Databento

Technology moved 4.4 times as far as utilities on earnings

−10%0%+10%+20%Technology 467Healthcare 349Communication 100Consumer discretionary 263Industrials 475Consumer staples 161Materials 132Financials 428Energy 131Real Estate 141Utilities 125
First close after the report vs the close before it. Thin bar: 10th to 90th percentile; thick bar: 20th to 80th; dot: median. Number: reports in the sector. Sources: SEC Form 8-K Item 2.02 filings. Closes: Data provided by Databento. AlgoThesis, Oct 17, 2026.

Cite this study:Get the data (CSV)

the median move, up or down, at the first close after a report
4.0%

the median move, up or down, at the first close after a report

of reports came with a move of 5% or more
42%

of reports came with a move of 5% or more

median move for technology, vs 1.6% for utilities
7.0%

median move for technology, vs 1.6% for utilities

of 5%+ moves were on the same side at the fifth close
94%

of 5%+ moves were on the same side at the fifth close

How far the first close moved

On a report day the median stock in this set closed 4.0% away from where it closed before the release. A move of 5% or more came with 42% of reports, 10% or more with 16%, 20% or more with 3%. A few more closed higher than lower: 52.2% closed higher.

First close after the report vs the close before it

below −20%: 24 reports−20% to −19%: 10 reports−19% to −18%: 7 reports−18% to −17%: 14 reports−17% to −16%: 7 reports−16% to −15%: 16 reports−15% to −14%: 18 reports−14% to −13%: 23 reports−13% to −12%: 17 reports−12% to −11%: 27 reports−11% to −10%: 38 reports−10% to −9%: 38 reports−9% to −8%: 55 reports−8% to −7%: 74 reports−7% to −6%: 67 reports−6% to −5%: 83 reports−5% to −4%: 105 reports−4% to −3%: 131 reports−3% to −2%: 145 reports−2% to −1%: 212 reports−1% to 0%: 207 reports0% to +1%: 187 reports+1% to +2%: 172 reports+2% to +3%: 184 reports+3% to +4%: 150 reports+4% to +5%: 129 reports+5% to +6%: 107 reports+6% to +7%: 98 reports+7% to +8%: 65 reports+8% to +9%: 66 reports+9% to +10%: 45 reports+10% to +11%: 35 reports+11% to +12%: 28 reports+12% to +13%: 19 reports+13% to +14%: 25 reports+14% to +15%: 16 reports+15% to +16%: 16 reports+16% to +17%: 13 reports+17% to +18%: 14 reports+18% to +19%: 10 reports+19% to +20%: 9 reports+20% or more: 66 reports−20%−10%0%+10%+20%
2,772 reports in 1% bins; the end bars hold moves below −20% and of +20% or more. Red: closed lower; green: closed higher.

A big first move was usually still standing at the fifth close

At the fifth close after the report, the stock was still on the same side of its pre-report close 81% of the time. The bigger the first move, the more often it held: after a move of 10% or more, 97% were still on the same side. Small moves were closer to a coin toss: 62% after a move under 2%.

Still on the same side of the pre-report close at the fifth close

62%0–2%n 75880%2–5%n 82992%5–10%n 69697%10%+n 453
Grouped by the size of the first-close move, up or down. 2,736 reports with a fifth close.

The biggest moves

Largest rises

STRL Sterling InfrastructureMay 4, 2026+52.2%
DOCN DigitalOcean HoldingsMay 5, 2026+40.4%
FLEX FlexMay 5, 2026+39.7%
SNOW SnowflakeMay 27, 2026+36.5%
ORCL OracleSep 9, 2025+36.0%
GMED Globus MedicalNov 6, 2025+35.9%

Largest falls

SNPS SynopsysSep 9, 2025−35.8%
ZS ZscalerMay 26, 2026−31.5%
DKS Dick's Sporting GoodsAug 25, 2026−30.7%
ALNY Alnylam PharmaceuticalsJul 30, 2026−28.3%
RBLX RobloxJul 30, 2026−26.9%
U Unity SoftwareFeb 11, 2026−26.3%

How this was measured

  • Companies: 685 of the 715 companies worth $10B or more on Oct 17, 2026. Left out: 25 foreign companies that report on Form 6-K, not 8-K; 3 whose filings can't yet be paired with closes (a new ticker or holding company); 2 with no results 8-K in the period. A company that has since shrunk below $10B, been bought or delisted is not in the set, which can tilt the results toward stocks that did well.
  • Reports: every SEC Form 8-K with Item 2.02 (results of operations). Updates filed shortly before a report, and a release followed by another within 60 days (preliminary numbers at a conference, an analyst day), are left out, so a quarter counts once.
  • Move: the first end-of-day close after the SEC accepted the filing, against the close before it. A filing accepted after the close is measured on the next trading day.
  • Fifth close: counting that first close as one. For a report filed before the open, that is four trading days after the report day.
  • Sectors: the standard 11-sector scheme as AlgoThesis assigns it, with the S&P index lists as the reference; not the SEC industry code. A sector with fewer than 20 reports is not charted.
  • Period: Sep 2, 2025 to Oct 16, 2026, the span our closes cover.
  • Not included: analyst estimates, so nothing here says beat or miss. These are past moves, not a forecast and not advice.
  • Data: SEC EDGAR filings. Closes: Data provided by Databento (end of day).

When every company reports: the earnings calendar →One company's reports, e.g. NVDA