Yesterday's earnings reactions mirrored one of the market's favorite themes this year - volatility.
We are seeing strong beats and brutal misses with half of the S&P 500 companies having a positive earnings reaction today, while the other half fell short.
Days like today defy expectations with a healthcare company taking the number one spot on the leaderboard while a semiconductor company falls to the bottom of our list.
Let’s get into the data and see what happened.
Here are the latest S&P 500 earnings reactions 👇
*Click the image to enlarge it
IDEXX Laboratories $IDXX had a +9.16reaction score after reporting a double beat. This was the 3rd consecutive positive earnings reaction.
They reported revenues of $1.11B, versus the expected $1.07B, and earnings per share of $3.63, versus the expected $3.30.
ON Semiconductor Corp $ON had a -5.81 reaction score after reporting a beat & a miss. This was the 3rd consecutive negative earnings reaction.
They reported revenues of $76.44B, versus the expected $73.93B, and earnings per share of $3.65, versus the expected $3.38.
Now let's dive into the data and talk about the most important beats 👇
IDXX had its best earnings reaction ever 🔥
Idexx Laboratories rallied 27.5% after this earnings report, and here's what happened:
Revenue grew 11% year-over-year, with 9% coming from organic growth.
International revenue increased 15%, with 11% coming from organic growth, outperforming domestic revenue for their CAG segment, which makes up 88% of total revenue.
Management raised full-year revenue and earnings per share guidance from $4.21 to $4.28 and $12.40 to $12.76, respectively.
This is IDXX’s best earnings reaction ever and the single greatest day move in the history of this company.
The craziest part of this story is that we are approaching all-time highs and are so close to completing a massive 4-year base for the stock.
Price ripped above the 61.8% Fibonacci retracement with a massive 27.49% gap-n-go breakaway.
If and when IDXX clears 707, the path of least resistance will decisively shift from sideways to higher for the foreseeable future.
ON has been punished for the last 3 earnings reports 🩸
ON Semiconductor Corp fell -15.6% after this earnings report, and here's why:
Revenue declined 15.4% year-over-year, raising concerns about future growth.
Non-GAAP gross margins compressed by 770 basis points, falling from 45.3% in 2024 to 37.6% in 2025.
Management acknowledged continued weakness in the automotive markets in Europe and North America, while emerging markets, specifically China, continue to grow.
This was another massive miss from the $20B semiconductor company. Their recent revenue declines and margin compression are concerning investors about the trajectory of the company.
This stock is forming a massive 5-year top and is approaching a key polarity level where the buyers will either step in or lose control.
If ON breaks below the $46 range, the path of resistance will shift lower.
On the flip side, a bounce at this level could be a continuation of a sideways trend.
Thank you for reading.
- The Beat Team
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