Steve Strazza highlights stocks showing both fundamental strength and technical momentum.
The Daily Beat - November 17, 2025 ๐
November 17, 2025
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 itโs 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.
Here are the latest earnings stats from the S&P 500 ๐
*Click the image to enlarge it
Friday's only beat came from Applied Materials $AMAT, the $180B semiconductor equipment and materials stock. The company beat expectations across the board, and shareholders were rewarded with a +0.45 reaction score.
In the report, they beat revenue expectations by $120M, and beat earnings per share expectations by 6 cents.
Now let's dive into the fundamentals and technicals ๐
AMAT snapped a 6-quarter beatdown streak ๐ฅ
Applied Materials had a +1.3% post-earnings reaction, and here's what happened:
The largest revenue segment, Semiconductor Systems, posted a record quarter, growing 14% year-over-year.
The company's operating margin increased by 100 basis points year-over-year to 30.2%.
In addition to the strong quarter, the management team issued solid guidance for 2026. They expect the second half to be stronger than the first, as AI-related fab equipment spending should accelerate.
We highlighted this report in a recent Weekly Beat column, noting that shareholders have been punished for six consecutive earnings reports. This was one of the longest beatdown streaks in the S&P 500 and the semiconductor industry.
It has been a tough year and a half...
But things are turning up! After initially selling off on Friday, buyers stepped in for the rest of the day, closing the session at the high. This snapped the massive beatdown streak.
While the stock still has a lot of work to do in absolute and relative terms, this was a good start. We'll be watching next quarter's post-earnings reaction closely to see if the bulls can follow through to the upside.
So long as AMAT is below 255, the path of least resistance is likely to remain sideways for the foreseeable future.
