While 77% of US companies have beaten earnings per share estimates so far this earnings season, the average stock that has reported has actually declined 0.72% on its report day. (For stocks that report after the close, we use its next-day change, and for stocks that report before the open, we use that day's change.) Heading into earnings season, the market was at extreme overbought levels, and companies are finding it difficult to see an increase in share prices even when their earnings reports blow away the numbers.
Some companies have managed to do well, however. In the first table below, we highlight all of the US companies that have gone up more than 5% on their earnings report days (S&P 500 companies are outlined in black). As shown, Lexmark (NYSE:LXK) has seen the biggest gain at 15.91%, followed by Renaissance Learning (NASDAQ:RLRN) (15.67%), Helen of Troy (NASDAQ:HELE) (12.5%), Werner Enterprises (NASDAQ:WERN) (12.38%), and Lufkin Industries (NASDAQ:LUFK). Other notables on the list of big winners include Gannett (NYSE:GCI), Tempur-Pedic (NYSE:TPX), CSX, Bank of New York (NYSE:BK), and Harley-Davidson (NYSE:HOG).
More companies have gone down more than 5% on their report days than have gone up more than 5%. Volterra Semi (NASDAQ:VLTR) has had the worst reaction to its earnings report with a one-day decline of 18.42%. Boston Scientific (NYSE:BSX), Great A&P Tea (GAP), McClatchy (NYSE:MNI), MGIC (NYSE:MTG), Brinker (NYSE:EAT), Nokia (NYSE:NOK), and Domino's Pizza (NYSE:DPZ) have all gone down more than 10% on their report days this earnings season.