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 Wednesday's Beat Sheet was the $35B aerospace & defense stock, Axon Enterprise $AXON. Following a big double beat, shareholders were rewarded with a +4.40 reaction score.
AXON reported $800M in revenue, beating the expected $760M, and earnings per share of $2.15, beating the expected $1.60.
At the bottom of Wednesday's list was the $10B software stock, GoDaddy $GDDY. After reporting better-than-expected headline results, shareholders received a -8.94 reaction score. This was one of the nastiest beat/beat/drops we've seen all earnings season.
GDDY's revenues came in at $1.27B, meeting the market's expectations, and earnings per share of $1.80, beating the expected $1.58.
Let's talk about what else happened 👇
AXON has been rewarded for 6 of its last 7 earnings reports🔥
Axon Enterprise had a +17.6% post-earnings reaction, and here's what happened:
During the quarter, revenues grew 39% year-over-year, and full-year 2025 revenue increased by 33%. This marked the fourth consecutive year of 30%+ annual growth.
Net revenue retention hit 125%, indicating low churn and the ability to upsell customers.
In addition to the blockbuster earnings report, the management team expects revenues to grow by 30% again in 2026.
Since the lows of the Great Financial Crisis, this has been one of the best secular uptrends in the market. The stock has rallied by more than 30,000% since bottoming in 2008.
This historic run has been fueled by monster growth and consistent positive earnings sentiment.
And despite carving out a textbook distribution pattern over the past year, the fundamentals never confirmed it.
Now, we're seeing a sharp snapback in the technicals as earnings sentiment is reaccelerating.
So long as AXON holds its 2025 lows, the path of least resistance is higher toward the former all-time highs.
GDDY has been punished for 4 of its last 5 earnings reports🩸
GoDaddy had a -14.3% post-earnings reaction, and here's what happened:
During the quarter, bookings grew just 5% year-over-year, lagging revenue growth of 7% over the same period. Investors want to see the opposite.
At this point, the company isn't even trying to grow anymore. 100% of their free cash flow is being deployed to share repurchases.
Making a bad quarter worse, the management team expects revenue growth to decelerate by 2% in 2026.
After rallying 200% from late 2023 to early 2025, the stock has cratered by more than 60% and completely retraced the prior move.
This technical beatdown has been paired with consistent negative earnings sentiment.
And while the primary trend is still decisively lower, the price has reached a key level of interest that could mark a near-term bottom.
We're talking about a volume-shelf that goes back nearly a decade. If there were ever a time for AXON buyers to return, this is it.
Thank you for reading,
-The Beat Team
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