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So far it has been a spectacular earnings season for the bulls, as the average stock reporting earnings has risen an average of 1.59% on the first trading day following its report. The market itself is up about 13% this earnings season as well. Below we highlight the individual stocks in the S&P 1500 that have seen the biggest 1-day gains and losses following their earnings reports this season. Trueblue (TBI) has had the best response to earnings so far this season with a gain of 40.4% on the day. Other notable big winners include Intuitive Surgical (ISRG) and Starbucks (SBUX). On the downside, Spartan Motors (SPAR), Lexmark (LXK), and Allegheny Technologies (ATI) have had the worst response to earnings. Other notables on the list of earnings losers include SanDisk (SNDK) and Broadcomm (BRCM).

While top line and bottom line numbers have been a major focus this earnings season as they usually are, the key to the big gains seems to be guidance. For the first time in a long while, many more companies are raising guidance versus lowering guidance, as companies are forecasting their businesses to finally start getting better instead of worse.

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Source: Best and Worst Performing Stocks on Earnings