Earnings season is the heartbeat of the market - and every day brings fresh signals about where money is flowing.
With each report, we learn not just how companies are performing, but how investors are reacting.
In the Daily Beat, we spotlight the most important earnings moves from the prior session - the winners, the losers, and the reactions that reveal what really matters to the market right now.
Whether it’s a bellwether with broad economic implications or a niche name making waves, we cut through the noise to focus on the setups that matter most.
Here are the latest earnings stats from the S&P 500 👇
*Click the image to enlarge it
The only S&P 500 earnings reaction on Thursday came from the $44B grocery store chain, Kroger $KR, which rallied 0.30%, but had a slightly negative reaction score after posting mixed headline results.
They reported revenues of $33.94B, versus the expected $34.10B, and earnings per share of $1.04, versus the expected $0.99.
Now let's dive into the fundamentals and technicals 👇
KR has been rewarded for 11 of its last 15 earnings reports 🔥
Kroger had a muted earnings reaction after this earnings report, and here's what happened:
Sales increased by 3.4% year-over-year, driven by 16% growth in e-commerce over the same period.
They're aggressively returning capital to shareholders, growing the quarterly dividend by 9% to $0.35 per share. Additionally, they have $2.5B authorized to repurchase shares.
In addition to the great quarter, the management team boosted its forward sales and operating profit guidance.
This was another solid report from one of the largest grocers in the United States. The company has a consistent track record of delivering value to shareholders, which shows in the way Mr. Market consistently rewards the stock post-earnings.
Thursday's report and market reaction were the latest examples of Kroger's strong fundamentals.
As you can see on the chart, the price is stuck in no-man's land, wedged between two key Fibonacci extension levels.
This is a textbook range-bound stock. Since this is occurring within the context of a long-term uptrend, we want to bet on the buyers eventually regaining control and resuming the primary trend.
Over the short-term, we expect KR to continue churning sideways between 64 and 73.
Happy Friday!
-The Beat Team
P.S. Have you seen what's happening in crypto? They're ripping, and we think it's time to be all-in again.
Ripple $XRP is one of our favorite charts in the space, and we outlined the key levels on Wednesday.
There are many more setups like this, so be sure to join Louis and Steve today at 10 am ET. They're going to run through all of the best names.
