Thursday's 38 Reports Led by Walmart, Deere

WMT and DE anchor a mid-tempo Thursday lineup featuring 38 companies reporting results. Walmart steps up before the open with consensus calling for $0.75 per share in its second quarter of fiscal 2027, while Deere expects $4.84 for its third quarter. The retail and industrial heavyweights set the tone for a day that's lighter than Wednesday's 72-reporter rush but heavier than the typical August lull.

AAP reports before the market opens with estimates at $0.80 for the second quarter, while OSIS closes the day after the bell with $3.85 expected for its fourth quarter. SCSC ($1.16 estimate), BKE ($0.83), and ATHM ($2.06) round out a roster that skews toward retail, industrial, and specialty tech names. Fifteen reporters carry analyst consensus, while another 23 companies without coverage fill out the calendar.

The biggest surprise came from ZIM, which posted $0.64 per share against a $-0.33 estimate for a 294.9% beat, though shares fell 3.8% in the session. The shipping name flipped expectations but couldn't convert the earnings shock into sustained momentum. On the opposite end, ANTA delivered the day's worst miss at -1416.5%, reporting $-0.47 versus a $0.04 estimate, yet still gained 4.7% as traders looked past the headline number.

TGT beat by 6.5% with $2.46 versus $2.31 expected and climbed 4.3%, while LOW topped its $4.29 estimate with $4.40 and added 2.0%. Both big-box retailers showed solid execution heading into the back half of the year. TJX beat by 1.4% but dropped 4.2%, and ADI exceeded estimates by 2.4% yet slid 0.9%, reminding traders that beats don't always translate to gains.

COTY posted the largest post-earnings move at +10.6% despite missing estimates with $-0.02 versus $-0.01 expected, a -174.0% surprise. BULL surged 9.0% on a 105.9% beat, reporting $0.07 against a $0.03 forecast. Of the 16 other reporters with consensus, 12 beat and 4 missed, matching the day's overall 75% beat rate for that cohort. Another 45 micro-cap and OTC names reported without analyst coverage.

Wednesday's 72 reporters delivered a 73% beat rate and a 27% miss rate, in line with the seasonal trend but not quite matching the peak enthusiasm seen earlier in August. Among the top 10 featured names, six beat estimates and four missed, though price action didn't always follow the script. The disconnect between earnings surprises and stock moves underscores a market digesting results through a lens of forward guidance and sector rotation rather than backward-looking numbers alone.

Sector performance showed breadth across the board. Consumer Discretionary went 3-for-3 on beats, while Information Technology, Health Care, Financials, Energy, and Industrials each posted 100% beat rates on limited sample sizes. Consumer Staples managed a 50% beat rate across four reporters, and the Other category—covering 13 names—landed at 62%. The mix suggests pockets of strength rather than uniform outperformance.

The next seven days bring 152 scheduled reporters, a pickup in volume as late-August stragglers file results before Labor Day weekend. BBY, ADSK, and AFRM highlight the August 27 slate, with Best Buy expected to draw the most attention given its role as a consumer discretionary bellwether. The pipeline also includes BILI, BZUN, and a handful of international and specialty names that could add color to sector narratives.

Timing for many of the week-ahead reporters remains listed as TBD, which typically resolves in the 48 hours before release. Traders are watching for any shift in tone from retailers and enterprise software names, both of which have shown mixed results this season. The cadence should accelerate through midweek before tapering into the holiday weekend.

Walmart's report will set the early tone, with traders focused on comparable-store sales, inventory levels, and any commentary on consumer spending patterns heading into the fall. Deere's results offer a read on agricultural and construction equipment demand, a proxy for capital expenditure trends in cyclical sectors. Both names carry enough weight to move their respective sector ETFs and influence broader market sentiment if guidance surprises.

After the close, OSIS and FLO offer niche reads on optical systems and restaurant performance. The bifurcation between earnings beats and price action seen Wednesday suggests the market is prioritizing guidance and margin trends over headline EPS. With 152 names on deck for the coming week, today's results could serve as a preview of whether late-season reports can sustain the 73% beat rate or if fatigue starts to show.