Ryufin research · Nov 2, 2026
How US stocks move on their earnings
We measured the price move around 17,998 earnings releases from 1,536US-listed companies worth $2 billion or more, each company’s last twelve reports, nearly all of them from 2024 to Oct 2026. The typical stock moves 4.6% over the two days around its report, 2.5× what it moves on two ordinary days, and one report in 5 moves it 10% or more.
The findings
Every figure on this page is computed from SEC filing dates and end-of-day closes.
median move · over the two days around a report
an ordinary two days · for the typical company
of reports · moved the stock 10% or more
- Results are the biggest scheduled event in a stock’s year. Over the two days around its report the median stock moves 4.6%, against 2.3% on two ordinary days; 70% of companies move more than twice as much on results as on an ordinary two days. 5% of reports moved the price 20% or more.
- The direction is a coin toss: the price rose after 52% of reports. The size is not.
- It depends on the industry. Technology moves most, 7.3% at the median, with 37% of its reports moving 10% or more. Utilities moves least, 2.0%, and financial companies 3.1%.
- Smaller companies move more (5.0% for $2 to $10 billion), but the largest do not move least: companies worth $200 billion or more moved 4.1% at the median, against 3.7% for those worth $50 to $200 billion.
- Earnings moves have not grown: the median was 4.5% in 2024 and 4.6% in 2026 so far, and the share moving 10% or more stayed near 22%.
- Relative to its own ordinary days, Doximity, Inc. (DOCS) reacts most: its reports move it 22.5% on average, 6.9× an ordinary two days. The largest single move in the set was +59% for Porch Group, Inc. (PRCH) on its Nov 7, 2024 report.
The move by sector
Median two-day move around a report; hover a sector for its ordinary two days and the share of big moves.
- Technology7.3%
- Healthcare5.7%
- Consumer Cyclical5.5%
- Communication Services5.3%
- Industrials5.3%
- Basic Materials4.5%
- Consumer Defensive4.3%
- Energy3.8%
- Financial Services3.1%
- Real Estate2.5%
- Utilities2.0%
How often a report moves it 10% or more
Share of reports with a two-day move of 10% or more, by sector.
- Technology37%
- Healthcare28%
- Consumer Cyclical26%
- Communication Services25%
- Industrials23%
- Consumer Defensive18%
- Basic Materials16%
- Energy12%
- Financial Services9%
- Real Estate4%
- Utilities3%
By company size
Median two-day move, by market value today.
- $2B to $10B5.0%
- $10B to $50B4.4%
- $50B to $200B3.7%
- $200B and up4.1%
By year
Median two-day move, by the year of the report.
- 2023 (partial)4.6%
- 20244.5%
- 20254.6%
- 2026 so far4.6%
Each company contributes its last twelve reports, about three years, so the earliest year is only partly covered.
Where results move the price most
Average two-day move on results against the stock's own ordinary two days; companies with eight or more reports.
| Company | Results move | Ordinary two days | Times | Rose after |
|---|---|---|---|---|
| DOCSDoximity, Inc. | 22.5% | 3.3% | 6.9× | 8 of 12 |
| FTDRFrontdoor, Inc. | 15.1% | 2.4% | 6.4× | 8 of 12 |
| LWLamb Weston Holdings, Inc. | 14.2% | 2.4% | 6.0× | 7 of 12 |
| MEDPMedpace Holdings, Inc. | 15.0% | 2.6% | 5.8× | 6 of 12 |
| LRNStride, Inc. | 14.7% | 2.5% | 5.8× | 8 of 12 |
| FTNTFortinet | 14.2% | 2.5% | 5.7× | 6 of 11 |
| TDCTeradata Corporation | 15.0% | 2.6% | 5.7× | 6 of 12 |
| UIUbiquiti Inc. | 18.2% | 3.3% | 5.5× | 7 of 12 |
| ITRIItron, Inc. | 12.2% | 2.2% | 5.5× | 7 of 12 |
| PEGAPegasystems Inc. | 16.0% | 3.0% | 5.3× | 7 of 12 |
| KDKyndryl Holdings, Inc. | 16.0% | 3.0% | 5.3× | 6 of 12 |
| BFAMBright Horizons Family Solutions Inc. | 12.0% | 2.3% | 5.3× | 6 of 12 |
| FLYWFlywire Corporation | 16.6% | 3.2% | 5.2× | 9 of 12 |
| MDBMongoDB, Inc. | 20.3% | 4.0% | 5.1× | 6 of 12 |
| KNSAKiniksa Pharmaceuticals International, plc | 14.5% | 2.9% | 5.0× | 7 of 12 |
| XMTRXometry, Inc. | 24.9% | 5.0% | 5.0× | 8 of 12 |
| AVAHAveanna Healthcare Holdings Inc. | 21.1% | 4.2% | 5.0× | 9 of 12 |
| BMIBadger Meter, Inc. | 11.1% | 2.2% | 5.0× | 5 of 12 |
| CHRWC.H. Robinson | 10.8% | 2.2% | 5.0× | 7 of 11 |
| COOCooper Companies (The) | 9.3% | 1.9% | 5.0× | 5 of 12 |
| CVLTCommvault Systems, Inc. | 13.8% | 2.8% | 4.9× | 7 of 12 |
| TPCTutor Perini Corporation | 16.9% | 3.4% | 4.9× | 8 of 12 |
| GTXGarrett Motion Inc. | 12.3% | 2.5% | 4.9× | 6 of 11 |
| AXGNAxogen, Inc. | 18.9% | 3.9% | 4.9× | 7 of 11 |
| DISWalt Disney Company (The) | 7.9% | 1.6% | 4.9× | 6 of 12 |
Where results barely register
The same ratio, lowest first: a results move no bigger than an ordinary two days, often because ordinary days are already wild.
The largest single moves
The biggest two-day moves around one report in the set.
How it was measured
Report dates are each company’s 8-K filings under item 2.02, results of operations, on the SEC’s EDGAR record: up to the last twelve per company. The move runs from the close before the filing date to the close on the trading day after it, two days, because a report before the open moves that day and one after the close moves the next, and the filing date does not say which. A company’s ordinary two days is its average absolute two-day move over the last three years of closes. Companies worth $2 billion or more today, with at least four usable reports; 182 were left out for too few reports or too short a price history, and 15 moves over 60% in two days were dropped as share splits the price series and the filing calendar disagree on.
Limits: foreign companies that report on 6-K are not in the set; a two-day window also catches other news that landed the same days; market value is today’s, not the value at each report. Every stock page carries the same measure for that company, in its results card.
The full table, one row per company, is free to reuse under CC BY 4.0: earnings-moves-2026.json. Please cite “Ryufin, How US stocks move on their earnings (2026)” with a link to this page.