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Q4 Earnings Season -- Market Reactions Largely Positive
Manage episode 355683564 series 2969635
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Those of you who have followed us for some time know that we are strict adherents to fundamental analysis. And the most important time for fundamental analysts is earnings season.
We stand smack in the middle of earnings, moving toward the end, and we have some interesting conclusions. In 2022, we saw negative stock price reactions to earnings almost exclusively, no matter if the business developments were good, bad, or indifferent.
What has changed this year is that we are starting to see the opposite reaction to earnings. Even when business is fair to middling, we have seen some very positive earnings reactions. This suggests to us that the bar for results has been lowered by investors. This change in sentiment and reaction is often the signal of a new bull market.
On this week's Jarvis® Update, CEO Noland Langford and Director of Research, Brian Dress, cover the some of the latest earnings reports, particularly in the world of growth stocks. We saw a few double-digit gains in stock price after earnings this week, the types of moves we haven't seen since the last bull market.
In this installment, we cover the earnings from some of the companies we follow closely, including Airbnb (ABNB), InMode (INMD), and The Trade Desk (TTD), all of which impressed. We also cover some of the less impressive reports and the fact that they didn't send the stocks into a tailspin, as they would've in 2022.
Topic 1: The End of the Valuation Reset Topic 2: "Better Than Feared" is Better Than the Alternative
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