Steve Strazza highlights stocks showing both fundamental strength and technical momentum.
The Weekly Beat π
November 9, 2025
Earnings are the heartbeat of the market - and every week brings a fresh set of opportunities and risks. With each report, we get new information about corporate health, investor sentiment, and the sectors driving leadership (or lagging).
In the Weekly Beat, we spotlight the most important earnings reactions from the prior week - the winners, the losers, and the surprises that moved markets. Then we shift our focus forward, breaking down the biggest setups and expectations for the week ahead.
Whether itβs mega-cap leaders, niche growth stories, or the sectors most tied to the economy, weβve got you covered on what traders need to know right now.
Amazon $AMZN beat its headline expectations and snapped a five-quarter beatdown streak by rallying 9.6%. The stock also gapped above a shelf of former highs to a new all-time high.
The $23B medical devices stock, DexCom $DXCM, posted better-than-expected headline results, but suffered a -14.6% decline. Shareholders have now been punished for six of the past eight earnings events, as the company's fundamentals continue to deteriorate.
The third-largest diagnostics and research stock, Idexx Laboratories $IDXX, crushed the market's expectations and rallied nearly 15% as a result. This marked the fourth consecutive positive earnings reaction, and better yet, the stock gapped above the prior cycle's peak to a new all-time high.
Uncle Warren's $1T financial conglomerate, Berkshire Hathaway $BRK.B had a mixed earnings report and had a slightly negative earnings reaction. Shareholders have been punished for every earnings report since Warren Buffett announced his retirement earlier this year, and the stock is hanging on for dear life at a well-defined multi-year uptrend line.
The $18B integrated freight and logistics stock, Expeditors $EXPD, reported a double beat and popped nearly 11% to a new all-time high. You need to go back to 2008 to find a better earnings reaction than this.
The $55B provider of medicines and healthcare products for animals, Zoetis $ZTS, had a mixed earnings report, but there was nothing mixed about the earnings reaction - it was the worst ever. The stock is now on the cusp of resolving a massive top.
Advanced Micro Devices $AMD, the world's fourth-largest semiconductor stock, posted a double beat and snapped a four-quarter beatdown streak by rallying 2.5%. The stock recently broke out of a multi-year base and looks poised to continue climbing.
Like ZTS, Zimmer Biomet $ZBH had mixed headline results and the worst earnings reaction ever. The stock is on the verge of resolving a textbook multi-decade distribution pattern.
One of the most underrated AI stocks, Datadog $DDOG reported better-than-expected headline results and surged over 23% to a new multi-year high. This was the stock's best earnings reaction since 2023.
Like ZBH and ZTS before, Uber's $UBER largest competitor, DoorDash $DASH had a mixed earnings report and the worst earnings reaction ever. And after briefly breaking out to new all-time highs before the report, the stock is now decisively back into its prior accumulation pattern.
What's happening next week π
Next week will be an action-packed week for earnings events. There will be a ton to unpack at the Beat Report.
At the top of our radar will be Disney $DIS, Cisco $CSCO, and Applied Materials $AMAT.
We'll also be watching:
The market darling, Rocket Lab $RKLB.
Sam Altman's AI utility stock, Oklo $OKLO.
The provider of U.S. Treasury-backed stablecoins, Circle $CRCL.
The Brazilian financial stock, Nu Holdings $NU.
And the Chinese tech stocks, Bilibili $BILI and JD.com $JD.
It's a lot of speculative tech stocks... And we know one thing for sure: the earnings events will spark tremendous volatility. Make sure you don't miss a beat.
Now, letβs dive into the top setups heading into next week.
Here's the setup in DIS ahead of Thursday's earnings report π
Disney is expected to post $22.76B in revenue and EPS of $1.05 before Thursday's opening bell.
The stock has been carving out a textbook bearish-to-bullish reversal pattern for years, and we believe it's close to finally resolving.
Could this earnings event be the catalyst? We'll find out!
Heading into the DIS report, the key level to watch is 126. If the price breaks above that level, the path of least resistance will decisively shift from sideways to higher for the foreseeable future.
Here are the past 3 years of earnings results & reactions for DIS π
Over the past three years, Disney has consistently grown its top and bottom lines and beaten expectations, but the market hasn't always rewarded shareholders for it.
What stands out to us the most are the highly positive earnings reactions in February 2024 and May 2025. These were both the best since 2009, and we believe they were momentum thrusts in the fundamental trends.
Now all that's left is technical confirmation that the fundamentals have turned.
Because there's no trend in the earnings reactions, whether or not DIS is rewarded for Thursday's earnings event is a coin toss.
What we do have conviction in is the 126 level. If and when DIS closes above it, we want to be buyers.
Here's the setup in CSCO ahead of Wednesday's earnings report π
Cisco is expected to report $14.78B in revenue and EPS of $0.98 after Wednesday's closing bell.
Since the August 2024 low, the stock has been on a heater, rallying nearly 70% over that period.
To us, it seems like the .com bubble peak is acting as a magnet for the price trend right now.
If and when CSCO retests 82, we expect the .com bubble bagholders to come out in droves.
Here are the past 3 years of earnings results & reactions for CSCO π
Last year, Cisco had negative top-line and bottom-line growth in every quarter. This bearish trend in fundamentals ended at the beginning of 2025, and shareholders have been rewarded in two of the past three earnings events.
The company also has a perfect track record over the past three years of beating the headline expectations. And while it hasn't always resulted in a positive earnings reaction, it's probably not a bad thing.
So long as CSCO delivers good news in Wednesday's earnings report, we expect the stock to rally on Thursday.
Here's the setup in AMAT ahead of Thursday's earnings report π
The market expects Applied Materials to report $6.68B in revenue and EPS of $2.11 after Thursday's closing bell.
Since bottoming in April, the stock has been climbing up the right-hand side of a multi-year accumulation pattern.
From here, we expect the price to continue grinding higher toward the July 2024 peak, where we expect the sellers to step in.
Ahead of AMAT's earnings event on Thursday, all eyes are on 255. Nothing would be more bullish than a breakout above that level to new all-time highs. And on the flip side, we expect messy price action below it.
Here are the past 3 years of earnings results & reactions for AMAT π
While we're in a raging bull market for semiconductors, Applied Materials' fundamentals have been deteriorating like no other.
The market has punished shareholders for six consecutive earnings events, and the bearish fundamental trend is accelerating. Last quarter, the stock had its worst earnings reaction of the 21st century.
AMAT sucks, and we don't expect that to change soon. We expect the stock to be punished again for its earnings event this week.
Happy Sunday
-The Beat Team
P.S. The Squeeze Engine is built to see pressure build beneath the surface - before momentum erupts. Thatβs the same signal behind 6,341% and 2,578% moves this year.
