EarningsBeats Digest

Published: Mon, 05/03/21

EarningsBeats.com Digest for May 3, 2021

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Upcoming Earnings ChartLists

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Energy Companies Are Getting The Best Earnings Reactions

We've been analyzing the reactions to earnings reports this quarter and we've broken the results out by sector. What we've found thus far is that energy is getting a lot of post-earnings love from Wall Street. While technology stocks have averaged losing 1.76% after earnings reports, energy stocks have averaged GAINING 1.33%. That's a difference of more than 3%, depending on whether you're holding technology or energy stocks into earnings. After the closing bell later today, Diamondback Energy (FANG) will be reporting earnings and they've been a leader in the exploration & production ($DJUSOS) area of energy:

The chart highlights the key area of price resistance and price support, so watch both carefully. It certainly appears to me that Wall Street is expecting good things here, so a breakout should be considered quite bullish. The PPO is just starting to turn up off centerline support and FANG has been a solid leader among stocks in the DJUSOS.

Be sure to check out the Earnings Reactions spreadsheet. There are hundreds of companies' earnings reactions that have been sorted and analyzed and we're providing a copy of this spreadsheet to anyone who wants one. Those with a short-term mindset with respect to earnings, and especially those that hold stocks into earnings, should find this spreadsheet very useful.

Happy trading!

Tom Bowley

Chief Market Strategist

EarningsBeats.com
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