Earnings Reports & Hints — October 29, 2026 — After Hours — Last 12 Hours (Pacific Time)
Executive Summary
Tonight's earnings wave skewed heavily positive, with the majority of reporting companies beating EPS estimates — though "beat and fall" was a recurring theme as guidance disappointments punished even strong reporters. The session's biggest story was Amazon's near-5% after-hours drop on a top-and-bottom-line miss, while Stryker plunged 12% and Twilio tumbled 15% on weak outlooks despite solid underlying results. AI-driven demand continued to lift semiconductor and software names, while healthcare, aviation, and select industrials faced headwinds.
Earnings Performance Breakdown
Only actual earnings results are classified below. Preview/outlook articles are excluded.
| Category | Count | % of Results |
|---|---|---|
| 🟢 Double Beat (EPS + Revenue both beat) | ~145 | ~57% |
| ⚪ Mixed (one beat, one miss) | ~90 | ~35% |
| 🔴 Double Miss (EPS + Revenue both missed) | ~22 | ~8% |
Notable pattern: A significant subset of Double Beats still saw negative stock reactions due to forward guidance cuts — making this a "beat the quarter, miss the outlook" earnings season.
Notable Earnings Reports
🔴 Amazon (AMZN) — Double Miss
- EPS of $1.89 missed the $1.96 estimate by $0.07; revenue also fell short
- Stock slid nearly 5% after hours
- Rare quarterly stumble for the e-commerce and cloud giant rattled sentiment broadly
🔴 Stryker (SYK) — Mixed / Guidance Miss
- EPS of $3.52 missed by $0.03; revenue also fell short
- Stock plunged 12% — the session's largest large-cap decline
- Device sector headwinds and disappointing guidance drove the selloff
🔴 Twilio (TWLO) — Mixed / Guidance Miss
- EPS of $1.65 beat by $0.18; revenue topped estimates
- Stock tumbled 15.4% after hours on a weak Q4 growth outlook
- Came into the print up ~98% YTD, leaving little room for error
🔴 Illumina (ILMN) — Mixed / China Risk
- EPS of $1.44 beat by $0.08; revenue topped estimates
- Stock tumbled 12% despite the beat
- China market concerns overshadowed solid domestic clinical momentum
🔴 Roblox (RBLX) — Mixed / Guidance Miss
- EPS of -$0.32 beat by $0.11; revenue topped estimates
- Stock dropped ~9% after hours on user growth and guidance disappointment
- Platform growth questions remain a persistent overhang
🟢 Eli Lilly (LLY) — Double Beat
- EPS of $7.48 beat by $1.88; revenue topped estimates
- Stock jumped over 4% premarket
- Continued GLP-1 drug demand momentum with raised revenue guidance
🟢 Crocs (CROX) — Double Beat
- EPS of $3.69 beat by $0.39; revenue topped estimates
- Stock soared 19% — session's biggest positive mover
- Raised guidance added fuel to an already strong beat
🟢 Strategy / MicroStrategy (MSTR) — Mixed
- EPS of $44.75 beat by $30.89; revenue fell short
- Shares fell despite the record profit, driven by Bitcoin gains
- Revenue miss and capital structure concerns weighed on sentiment
🟢 Gilead Sciences (GILD) — Double Beat
- EPS of $2.55 beat by $0.38; revenue topped estimates
- Raised full-year guidance on HIV franchise strength
- Pipeline wins helping offset acquisition integration costs
🟢 Monolithic Power Systems (MPWR) — Double Beat
- EPS of $8.19 beat by $0.48; revenue topped estimates
- AI power demand cited as key driver
- Semiconductor names broadly benefiting from AI infrastructure buildout
Sector Analysis
🟢 Strength
Pharmaceuticals / Biotech
Eli Lilly, Gilead, Bristol-Myers Squibb, Merck, and Alnylam all beat — a clean sweep for large-cap pharma. HIV, GLP-1, and oncology franchises are the common threads. Gilead and Merck both raised guidance.
Semiconductors / AI Infrastructure
Monolithic Power Systems, Entegris, and Intel all beat. AI power demand and data center buildout are driving outperformance. SanDisk topped estimates and announced an 8-for-1 stock split.
Financials / Insurance
Mastercard beat with 14% revenue growth. CNO Financial beat by $0.80. American Coastal Insurance beat by $0.30. Broad strength across banking and specialty insurance.
Industrials / Defense
EMCOR, Quanta Services, L3Harris, Huntington Ingalls, and Textron all beat and raised guidance. Defense and electrical infrastructure spending remains robust.
Transportation / Trucking
TFI International surged 39% on adjusted EPS. Saia, Covenant, and Universal Logistics all beat. Truckload rebound is a clear theme.
🔴 Weakness
Medical Devices
Stryker's 12% plunge signals device sector headwinds. Integer Holdings missed by $0.35. Alphatec Holdings also missed.
Social Media / Consumer Internet
Pinterest missed on revenue and EPS. Roblox fell ~9% on guidance. Amazon's miss adds to consumer digital spending caution.
Chemicals / Agriculture
FMC reported a massive EPS miss of $4.48 (EPS of -$4.41 vs. $0.07 estimate). Eastman Chemical and Olin both missed. Commodity spread compression is biting.
Automotive
Harley-Davidson, Sonic Automotive, Mobileye, and Wabash National all missed. Auto sector faces margin pressure and demand softness.
Real Estate / REITs
Pebblebrook Hotel missed by $0.57. Healthcare Realty, Gaming & Leisure Properties, and Digital Realty all posted mixed-to-weak results.
Biggest Movers
| Stock | Move | Direction |
|---|---|---|
| Crocs (CROX) | +19% | 🟢 Beat + raised guidance |
| Twilio (TWLO) | -15.4% | 🔴 Weak Q4 outlook |
| Stryker (SYK) | -12% | 🔴 Miss + guidance cut |
| Illumina (ILMN) | -12% | 🔴 China woes despite beat |
| Caterpillar (CAT) | -10% | 🔴 Beat but sold off |
| Cognizant (CTSH) | -10% | 🔴 Weak Q4 outlook |
| Roblox (RBLX) | -9% | 🔴 User growth + guidance miss |
| DaVita (DVA) | -9.5% | 🔴 Outlook disappointment |
| Eli Lilly (LLY) | +4%+ | 🟢 Big beat + raised guidance |
| Gen Digital | +11% | 🟢 Raised outlook + strong beat |
| Omnicell (OMCL) | +10% | 🟢 Earnings beat |
| Baxter (BAX) | +6% | 🟢 Beat and raise |
| Xerox (XRX) | -20% | 🔴 Weak guidance overshadows beat |
| Lectra | -16.5% | 🔴 Recurring revenue warning |
| Oshkosh (OSK) | -8% | 🔴 Miss + lowered guidance |
| Floor & Decor (FND) | -2% | 🔴 Softer outlook |
| First Solar (FSLR) | -5% | 🔴 Revenue miss + weak guidance |
| Amazon (AMZN) | -5% | 🔴 Top and bottom line miss |
| Carvana (CVNA) | +9% | 🟢 Revenue beat + EBITDA upgrade |
| Norwegian Cruise (NCLH) | 🟢 Up | Beat on EPS + revenue |
Biggest EPS Surprise (Beat): Alnylam beat by $14.52 (EPS $16.26 vs. $1.74 estimate). Coinbase beat by $2.77. Hilton Grand Vacations beat by $2.95.
Biggest EPS Surprise (Miss): FMC missed by $4.48. Nexa Resources missed by $1.07. Telesat missed by $1.33.
Market Implications
The dominant narrative this earnings season is "beat the number, miss the story." Companies like Twilio, Stryker, DaVita, Roblox, and Caterpillar all delivered solid or above-consensus quarterly results — yet all fell sharply because forward guidance failed to meet elevated expectations. This suggests the market is priced for perfection in many sectors, and any hint of deceleration is being punished severely.
AI infrastructure remains the clearest secular winner. Monolithic Power Systems, Entegris, SanDisk, and GoDaddy (via its Airo AI product) all cited AI-related demand as a key growth driver. Meanwhile, consumer-facing digital platforms — Amazon, Pinterest, Roblox — are showing cracks, suggesting the AI spending boom is concentrated in enterprise and infrastructure rather than consumer applications.
Guidance divergence is the key investor signal to watch. Companies raising full-year outlooks (Eli Lilly, Gilead, L3Harris, EMCOR, Textron, Baxter, Altria, WEC Energy) are being rewarded. Those cutting or offering cautious outlooks (Air Canada citing fuel costs, Xerox, Oshkosh, Cognizant) are being punished disproportionately. In this environment, the bar for "good enough" guidance has risen significantly.
Key Takeaways
- 🔴 Amazon (AMZN) — A rare top-and-bottom-line miss sent shares down ~5% AH; watch for read-through to cloud and e-commerce sentiment
- 🔴 Stryker (SYK) — 12% plunge on miss + guidance cut signals medical device sector headwinds are real and persistent
- 🔴 Twilio (TWLO) — Beat the quarter, crashed on guidance; a cautionary tale for high-multiple growth stocks entering Q4
- 🟢 Eli Lilly (LLY) — $1.88 EPS beat and raised guidance confirms GLP-1 demand is still accelerating; pharma remains a safe harbor
- 🟢 Crocs (CROX) — 19% surge on beat + raised guidance; consumer discretionary isn't dead if the brand is strong
- 🔴 FMC Corp (FMC) — Catastrophic $4.48 EPS miss signals deep distress in agricultural chemicals; avoid the sector near-term
- 🟢 Monolithic Power (MPWR) — AI power demand driving semiconductor outperformance; infrastructure buildout shows no signs of slowing
- 🔴 Illumina (ILMN) — Beat the numbers, fell 12% on China risk; geopolitical exposure is a material valuation discount factor
- 🟢 SanDisk (SNDK) — Beat + 8-for-1 stock split announced; NAND cycle recovery gaining credibility
- 🔴 Xerox (XRX) — 20% drop on weak guidance despite a beat; legacy tech transformation stories remain high-risk
- 🟢 TFI International — 39% adjusted EPS jump on truckload rebound; freight recovery is real and broadening
- 🔴 Air Canada — Fuel cost surge forcing profit forecast cut; airline sector faces a margin squeeze heading into 2027
- 🟢 Gilead (GILD) — HIV franchise strength + raised guidance; biotech with durable revenue streams outperforming
- 🔴 Roblox (RBLX) — User growth miss + guidance disappointment = -9% AH; gaming platform monetization remains unproven at scale
- 🟢 Carvana (CVNA) — +9% premarket on revenue beat and upgraded EBITDA guidance; used auto market recovery accelerating
- 🔴 Oshkosh (OSK) — -8% on miss + lowered guidance; defense/industrial equipment demand softening at the margin
- 🟢 Mastercard (MA) — 14% revenue growth confirms consumer spending resilience in payments; fintech infrastructure remains robust
- 🟢 EMCOR (EME) — Beat by $1.23 and raised guidance; electrical infrastructure and data center construction demand is booming
- 🔴 DaVita (DVA) — Beat the quarter but fell 9.5% on outlook; regulatory and reimbursement risk clouds the healthcare services sector
- 🟢 Rivian (RIVN) — Topped Q3 estimates and raised guidance as R2 platform drives growth; EV turnaround story gaining credibility
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