We recently calculated the performance of all US stocks since the open following their most recent earnings reports. This takes out the initial reaction to earnings reports in after-hours and pre-market trading and highlights how investors have treated shares post earnings.
As shown below, stocks in the Energy sector have averaged a decline of 6.73% since they've reported earnings, which is by far the worst of the ten major sectors. Financials and Consumer Discretionary have performed the best since reporting earnings. So even after their initial reaction to earnings reports, investors have remained bullish on the two sectors that have seen the biggest declines in earnings growth this quarter.
Clearly investors are focusing on what they expect to happen going forward and not was has already been reported.
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Below we highlight the individual stocks that have seen the biggest gains and losses after their initial reaction to earnings. CAL, WB, USB, CDI and IMCL have been the best, while ELN, TRS and GAP have been the worst.