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 it’s 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 👇
*Click the image to enlarge it
At the top of Tuesday's Beat Sheet was the $40B food distribution stock, Sysco $SYY. After beating headline expectations across the board, shareholders were rewarded with a +2.96 reaction score.
The company reported $20.76B in revenue, meeting market expectations, and earnings per share of $0.99, beating the expected $0.98.
At the bottom of the list was the healthcare plan giant, UnitedHealth $UNH. After posting mixed headline results, shareholders were punished with a -5.18 reaction score.
Revenues came in at $113.22B, missing the expected $113.77B, and earnings per share of $2.11, beating the expected $2.10.
Let's talk about what else happened 👇
SYY snapped a 5-quarter beatdown streak🔥
Sysco had a +10.1% post-earnings reaction, and here's what happened:
Sales grew by 3% year-over-year with 15 basis points of margin expansion.
So far in their fiscal year, free cash flow has surged by 25% to $413M.
Following this blockbuster earnings report, the management team raised its forward EPS guidance. They also expect to significantly raise the dividend.
This was the best earnings report we've seen from this company in years, and it was enough to break the stock out of a massive base. The price closed Tuesday at its highest level since 2022, marking the start of a new uptrend.
We also saw a significant change in earnings sentiment.
Not only did the stock snap a prolonged beatdown streak, but it did so with authority. It had the best earnings reaction of the 21st century.
We expect the buyers to maintain control of SYY for the foreseeable future.
UNH has been punished for 5 of its last 6 earnings reports🩸
UnitedHealth had a -19.6% post-earnings reaction, and here's what happened:
Revenues grew 12% in 2025, driven by 415,000 new memberships.
The medical care ratio, a key performance indicator for the business, rose to 88.9% in 2025.
While the management team expects improvement in the medical care ratio, they announced that revenues are likely to decline by 2% in 2026.
Following a brutal 60% drawdown and 4 consecutive negative earnings reactions, this stock had a sweet positive earnings reaction last quarter.
It looked like the technicals and fundamentals were turning in favor of the bulls.
However, this quarter's earnings reaction changed that in a heartbeat.
Not only did the stock have one of its worst earnings reactions ever, but the bullish technical structure was broken.
We expect this damage to take at least a quarter to repair. In the meantime, we expect UNH to churn sideways.
Happy Hump Day!
-The Beat Team
P.S. Steve Strazza is going live on Thursday at 2 am ET to unveil his new Beat Report research.
This has been under development for years, and you don't want to miss out on it.
