Earnings are the heartbeat of the market, and every week brings a fresh set of opportunities and risks.
With each report, we get new information on corporate health, investor sentiment, and where money is rotating.
In the Weekly Beat, we spotlight the most important earnings reactions from the prior week: the winners, the losers, and the surprises that moved markets.
Then we shift our focus to the week ahead, breaking down the technicals and fundamentals.
Whether itโs mega-cap leaders, niche growth stories, or the sectors most tied to the economy, weโve got you covered on what traders need to know right now.
After a big double beat and raise, Extra Storage Space $EXR had its best earnings reaction in years. Now the stock is threatening to breakout of a massive base that has shaped up over the past year.
Despite beating Wall Street's headline expectations, Akamai Technologies $AKAM fell 14.1% for its fifth negative earnings reaction out of the last six quarters. The company reported strong top-line performance, but net income cratered 36% year-over-year.
In reaction to a mixed earnings report, Domino's Pizza $DPZ rallied 4.1% for its second consecutive positive earnings reaction. The stock is now scoopin'-n-scorin' above a key level of former support.
Despite a better-than-expected earnings report, Dominion Energy $D fell 2.6% for its worst earnings reaction since Q3 2023. While this was a nasty beat/beat/drop, the stock is still holding above a shelf of former highs.
Following what one of the biggest beat/beat/& raises of this earnings season, Keysight Technologies $KEYS soared 23% to a new all-time high. This is one of our favorite AI stocks in the S&P 500.
In reaction to a big double beat, Expeditors $EXPD fell 7.2% for its worst earnings reaction since 2013. The ocean freight segment was a major drag this quarter as revenue per container fell 41% year-over-year. Making a bad quarter worse, the management team expects continued weakness in the ocean freight segment.
After decisively resolving a massive top, Axon Enterprise $AXON scooped back above a key level of former support on the heels of a big double beat. 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.
Following a better-than-expected earnings report, GoDaddy $GDDY cratered 14.3% for its fourth negative earnings reaction out of the last five quarters. After rallying 200% from late 2023 to early 2025, the stock has cratered by more than 60% and completely retraced the prior move.
In reaction to a blockbuster earnings report, Salesforce $CRM rallied 4% for its second consecutive positive earnings reaction. The board approved a new $50B share repurchase authorization, replacing all prior programs, alongside a 5.8% increase in the quarterly dividend to $0.44/share.
Despite another incredible report, Nvidia $NVDA fell 5.5% for its third consecutive negative earnings reaction. With the fundamentals firmly in a bearish regime, the odds are increasing that NVDA is carving out a top.
What's happening next week ๐
Next week will be action-packed again, with our attention focused on the semiconductor and retail bellwethers Broadcom $AVGO, Costco $COST, and Target $TGT.
We'll also be watching:
The trillion-dollar financial conglomerate, Berkshire Hathaway $BRK.B.
The Brazilian energy behemoth Petrobras $PBR.
The YouTube of China, Bilibili $BILI.
The apparel retail stocks, Abercrombie & Fitch $ANF and American Eagle Outfitters $AEO.
And more!
There will be plenty of earnings reactions to unpack next week in the Daily Beat. Stay tuned...
Now, let's talk about the reports that are front and center for us next week.
Broadcom $AVGO reports Wednesday after the close, with expectations for $19.22B in revenue and $2.02 in earnings per share.
Heading into the report, the stock is sitting on the edge of a major technical decision.
After an extended advance, AVGO has carved out a textbook distribution pattern. Price is now pressing against the lower bound of that range.
If you're a bull, this is not where you want to be heading into earnings.
And if you're a bull, the fundamentals are no longer on your side.
Looking at the earnings scorecard, Broadcom suffered its worst earnings reaction ever last quarter, plunging more than 11% in a single session.
That marked a clear deterioration in earnings sentiment, the kind that happens at turning points.
Even more notable, this is happening despite consistent headline beats and still-solid year-over-year growth.
That tells you something important: the market is looking past the numbers.
When negative earnings sentiment aligns with a bearish technical structure, that synergy matters. We just saw Nvidia struggle under similar conditions.
AVGO may very well deliver another double beat; it almost always does.
But right now, the bar is clearly higher than the headline numbers.
Unless management materially reaccelerates expectations, the path of least resistance appears lower.
Costco $COST reports Thursday after the close. The Street is looking for $69.25B in revenue and $4.55 in earnings per share.
Earlier this year, COST appeared to be resolving a large distribution pattern. That move quickly failed, and we saw a big move in the opposite direction.
Now comes the moment of truth.
Can the bulls follow through?
Fundamentally, Costco continues to execute.
Revenue growth remains in the upper single digits, and earnings are growing at a low double-digit clip.
On paper, this remains one of the cleanest operators in retail.
But the earnings scorecard shows a subtle shift.
For the first time in years, Costco has experienced back-to-back quarters of negative pre- and post-earnings drift, despite delivering top- and bottom-line beats.
The market has not rewarded the numbers.
That divergence is important.
The technicals are attempting to lead a turn back to leadership, but earnings sentiment needs to confirm.
If buyers show up again after this report, the failed breakdown will look even more significant.
If not, this could turn into another range-bound churn.
This week will likely resolve that tension.
Target $TGT reports Tuesday before the open, with expectations for $30.47B in revenue and $2.16 in earnings per share.
Technically, this is one of the more interesting setups on the board.
Since peaking in 2021, TGT has endured a nearly 70% drawdown, one of the worst performances in the S&P 500 over that stretch.
Now, price has returned to a key long-term level. Former resistance has turned into potential support.
This is the kind of level where major reversals can begin.
But the fundamentals have been ugly.
Target has been punished for five consecutive earnings reports and six of the last seven.
The company has posted negative bottom-line growth for five straight quarters and negative top-line growth for four.
Earnings sentiment has been decisively bearish.
The question now is whether that pessimism has been fully priced in.
If management can show stabilization, not even explosive growth, just stabilization, this could mark the early stages of a bearish-to-bullish reversal.
But if the earnings disappointment cycle continues, this shelf of former support is unlikely to hold.
That's it for this week. Thank you for reading!
-The Beat Team
P.S. Here at the Beat Report, we're looking for stocks with technical and fundamental uptrends.
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