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The current earnings season is nearing a conclusion. Although many companies missed on top line estimates, equities continue to climb higher. The Dow Jones Industrial Average and S&P 500 are currently enjoying a four-day winning streak.
In total, more than 2,000 companies have released their quarterly financial results. According to Bespoke Investment Group, a money management and research firm, the average one-day change for these stocks on their report days was 0.51 percent. When companies reported after the closing bell, the following trading day’s performance was counted. The results were even stronger for S&P 500 companies, which experienced a one-day average jump of 1.01 percent after an earnings release.
Even though the general trend has been for stocks to trade higher, this earnings season is proving to be make or break for several companies. As shown below, Bespoke compiled a list of the best movers in the S&P 500 this earnings season, along with their respective one-day percentage move.
Food and beverage company Dean Foods tops the list of best performers, after reporting impressive second quarter results late Tuesday. Net income came in at $56.2 million (30 cents per share), compared to a net loss of $50.5 million a year earlier. “We continued to build on our momentum in the second quarter, delivering strong growth across all of our operating segments,” said Gregg Engles, chairman and chief executive officer. “In addition to each of our businesses executing well against their stated plans, we also continued to benefit from disciplined expense control across the organization.”
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