Great numbers, falling stocks — the market has stopped rewarding even record earnings
This earnings season has a pattern, and last night showed it in its purest form yet: companies report better numbers than Wall Street expected — and their stocks fall anyway. Six earnings reactions from last Thursday's reports got their final score at Tuesday's close: four stocks were sold, one was rewarded, one ended flat. Rubrik took −17.4% — the second-deepest window in its card's life, on the largest EPS beat the card has ever recorded. Marvell's record quarter closed −12.9% and broke the only payment streak on its card. IREN closed −9.2%, Autodesk −8.5% — the deepest window in the calmest card on the board. Elastic held the evening's only payment at +10.3%, and Workday closed +2.5%: flat by the bands, exactly one dollar under the 199.38 close that would have scored it paid.