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 S&P 500 earnings moves from the prior session: the winners, the losers, and the reactions that reveal what really matters to the market right now.
Whether itโs 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 ๐
*Click the image to enlarge it
Tuesday's Beat Sheet was primarily red, but one reaction stood out to us on the upside.
At the top of the list was the $34B regional bank stock, Fifth Third Bancorp $FITB. Following a big double beat, shareholders were rewarded with a +2.81 reaction score.
The company reported $2.35B in revenues, beating the expected $2.34B, and earnings per share of $1.04, beating the expected $1.00.
At the bottom of the list was the $83B industrial conglomerate stock, 3M $MMM. After posting mixed headline results, shareholders were punished with a -2.16 reaction score.
Revenues came in at $6B, in line with the market's expectations, and earnings per share of $1.83, beating the expected $1.80.
Let's talk about what else happened ๐
FITB had its best earnings reaction since Q2 2024๐ฅ
Fifth Third Bancorp had a +2% post-earnings reaction, and here's what happened:
Total top-line and fee revenues hit all-time highs.
EPS grew 19% year-over-year, with robust growth across Investment Services, Investment Management, and Markets franchises.
In addition to the blockbuster report, the management team issued strong forward guidance for 2026.
This was one of the best double beats we've seen so far this earnings season, and the market loved it.
Not only did the stock close at a fresh 52-week high, but it did so with authority. We have more conviction when stocks breakout with their best earnings reactions in years.
And with FITB on the cusp of resolving a textbook multi-year accumulation pattern, this could be the beginning of a fresh leg higher.
MMM had its worst earnings reaction since Q1 2024๐ฉธ
3M had a -7% post-earnings reaction, and here's what happened:
Operating margin surged 140 basis points to 21.1%.
The consumer segment was the worst-performing business segment, with notable weakness in the U.S.
While the management team expects margin expansion in 2026, the market was disappointed with their forward revenue guidance.
We highlighted this report in the latest Weekly Beat column, noting that after nearly three years of negative revenue and earnings growth, the company has returned to top- and bottom-line growth in each of the past two quarters.
We also noted that the stock was running into a shelf of former highs.
It was a simple setup: either the stock breaks out or gets slammed.
Mr. Market chose the latter...
From here, we expect MMM to consolidate for the foreseeable future.
Happy Hump Day!
-The Beat Team
P.S. Q3 earnings are in. Here are the takeaways, and how we identified them.
Download the free Beat Quarterly and join the waitlist to receive next quarterโs research as it happens.
