Steve Strazza highlights stocks showing both fundamental strength and technical momentum.
The Daily Beat - November 26, 2025 π
November 26, 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 itβs 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 π
*Click the image to enlarge it
At the top of Tuesday's list was the $33B scientific & technical instruments stock, Keysight Technologies $KEYS. The company reported a double beat, and shareholders were rewarded with a +3.98 reaction score.
Revenues came in at $1.42B, above the expected $1.38B, and earnings per share were $1.91, surpassing the expected $1.83.
Analog Devices $ADI, Best Buy $BBY, & Agilent Technologies $A were also rewarded for reporting double beats.
The only beatdown came from the $11B packaged foods stock, J.M. Smucker $SJM. Following a mixed report, the stock had a -2.92 reaction score.
Now let's dive into the fundamentals and technicals π
KEYS snapped a three-quarter beatdown streak π₯
Keysight Technologies had a +10% post-earnings reaction, and here's what happened:
Revenues and earnings increased year-over-year by 10% and 16%, respectively.
Free cash flow hit a record high of $1.3B, and the company is using it for acquisitions and share buybacks.
In addition to the strong quarter, the management team issued better-than-expected forward guidance.
This was a fantastic earnings report, and Mr. Market agrees.
The stock not only snapped a three-quarter beatdown streak, but it gapped above a shelf of former highs to the highest level since 2021.
And as you can see, the price is on the cusp of resolving a prolonged accumulation pattern. This comes in the context of a strong long-term primary uptrend.
A decisive close above the 2021 peak would kick off the beginning of a fresh leg higher in KEYS.
ADI has been rewarded for six of its last eight earnings reports π₯
Analog Devices had a +5.3% post-earnings reaction, and here's what happened:
Revenues increased 26% year-over-year, led by the industrial segment, which grew 46% over the same period.
Free cash flow hit a record $4.3B, 96% of which was returned to shareholders via share buybacks.
In addition to the great quarter, the management team expects the growth to continue next year.
The stock has tried to close above the 2024 peak multiple times, but each attempt has failed.
But yesterday's move was different...
It was decisive!
After a long period of consolidation, it seems this earnings report is the catalyst for a fresh leg higher.
So long as ADI holds above the 2024 peak, we expect the buyers to maintain control for the foreseeable future.
Happy Thanksgiving Eve
-The Beat Team
P.S. Retail earnings can create some of the fastest moves of the quarter, especially when expectations are off. Macke will highlight the stocks where that disconnect is biggest right now.
