Post-earnings drift continuation

Bullish

Earnings beat + price still rising afterward + sector also supportive + options flow bullish. Classic PEAD.

PRIMARY SOURCE

Bernard-Thomas 1989

Ball-Brown 1968

Pan-Poteshman 2006

TYPICAL HORIZON

30-60 days

FACTORS USED

peadmomentumspilloveroptions

What it means

The company beat earnings expectations, the market responded with a sustained (not one-day) positive price reaction, the sector isn't dragging the ticker, and derivatives markets are also positioning bullishly. All four data sources confirm the same story.

Why it works

Bernard-Thomas 1989 post-earnings drift is one of the most replicable anomalies in finance — the top decile of earnings surprises earns ~8% excess return over the following 60 days. Pan-Poteshman 2006 options flow adds a cross-asset confirmation signal.

Watch out

The drift weakens for companies that beat but guide lower for the next quarter. Also, accelerated drift reversal happens if short interest builds rapidly post-beat (indicates smart money betting against the move).

Live matches

50 tickers firing right now

TickerCompanySectorChangeScore

WDCWestern DigitalTechnology-4.85%77[31–95]HPEHewlett Packard EnterpriseTechnology-0.30%69[23–95]CBOECboe Global MarketsFinancial Services+0.90%69[23–95]SBUXStarbucks CorporationConsumer-0.21%68[22–95]WRBW.R. BerkleyFinancial Services+3.48%68[22–95]NETCloudflare Inc.Technology+2.12%68[22–95]DOCUDocuSign Inc.Technology+2.75%68[22–95]GDGeneral DynamicsIndustrials+2.57%68[22–95]CWSTCasella Waste SystemsIndustrials+3.43%68[22–95]IRMIron MountainReal Estate-0.89%68[22–95]BGBunge GlobalConsumer Defensive+1.79%68[22–95]BKBank of New York MellonFinancial Services+1.16%68[22–95]RYANRyan SpecialtyFinancial Services+5.85%68[22–95]VLOValero EnergyEnergy+3.10%68[22–95]TGTTarget CorporationConsumer+1.53%68[22–95]KDPKeurig Dr PepperConsumer Defensive+1.73%68[22–95]TAPMolson Coors BeverageConsumer+2.06%68[22–95]AMPAmeriprise FinancialFinancial Services+0.17%67[21–95]ALIZFAllianz SEFinancials-1.01%67[21–95]BBYBest Buy Co.Consumer Cyclical+2.84%67[21–95]WSTWest PharmaceuticalHealthcare+0.50%67[21–95]BAXBaxter InternationalHealthcare+2.83%66[20–95]BWXTBWX TechnologiesIndustrials-1.36%66[20–95]TXTTextron Inc.Industrials+2.05%65[19–95]ALLYAlly FinancialFinancial Services+0.29%63[17–95]KRKroger Co.Consumer Defensive+3.48%63[17–95]MKCMcCormick & CompanyConsumer Defensive+0.76%63[17–95]MEDPMedpace HoldingsHealthcare+1.30%62[16–95]UDRUDR Inc.Real Estate+1.46%62[16–95]CSGPCoStar GroupReal Estate+1.59%62[16–95]DEDeere & CompanyIndustrials+0.47%62[16–95]TPRTapestry Inc.Consumer Cyclical+1.43%62[16–95]ETSYEtsy Inc.Consumer Cyclical+1.31%61[15–95]ILMNIllumina Inc.Healthcare-0.72%61[15–95]FROGJFrog Ltd.Technology+2.65%60[14–95]CCitigroup Inc.Financials-0.82%60[14–95]ANETArista NetworksTechnology-0.18%60[14–95]TFCTruist FinancialFinancial Services+0.19%60[14–95]KEYKeyCorpFinancial Services+0.14%60[14–95]GRMNGarmin Ltd.Technology+0.50%60[14–95]RNRRenaissanceRe HoldingsFinancial Services+1.42%60[14–95]IOTSamsara Inc.Technology+3.55%59[13–95]PRUPrudential FinancialFinancial Services+1.03%59[13–95]BACBank of AmericaFinancials+1.85%59[13–95]MCOMoody's CorporationFinancials+3.38%59[13–95]VSTVistra Corp.Energy-2.10%59[13–95]MAAMid-America ApartmentReal Estate+2.02%59[13–95]FFIVF5 Inc.Technology+4.73%59[13–95]INFYInfosys (ADR)Technology+4.31%59[13–95]BLKBlackRock Inc.Financials+0.37%59[13–95]

Disclaimer. Pattern matches are research signals, not investment advice. Past performance of an academic effect does not guarantee future returns. Forward-return tracking for Framler's own implementation begins 2026-05-16 after the calibration window closes.