At a glance: 3 S&P 500 names report today, all clustered in one session — Micron after the close, Jabil and FactSet before the open.
The tape ahead
Micron heads into tonight's print with consensus already implying another sharp sequential step-up — EPS up 26.7% and revenue up 24.2% versus last quarter — continuing the trajectory management pointed to last quarter, when it said calendar-2026 HBM supply, including next-generation HBM4, is essentially sold out. The 1-year EPS comparison (+990.7%) is a function of how deep last year's trough was rather than a repeatable growth rate; the 3-year figure is roughly flat (-0.7%), while the 5- and 10-year trends run steadily in the double digits (+26.2% and +11.8%) — a better read on the underlying business than any single-year print. The debate is less about clearing consensus — Micron has beaten in all eight of its last eight quarters, most recently by 21.4% — than about how durable AI-driven DRAM and HBM pricing power is into fiscal 2027, and how much of that is already in the stock after its run. Options are pricing a 7.6% swing on the print, more than five times Micron's own average one-day move after its last eight reports (1.4%) — the richest multiple of history among tonight's three names — so a beat alone may not be enough without commentary that extends the 2027 pricing story. Read-across matters for the rest of the memory chain: how Micron frames next year's HBM capacity commitments sets the tone for peers and the wider AI-hardware supply chain.
Jabil reports before the bell with consensus also implying a strong sequential quarter — EPS up 29.1%, revenue up 11.1% — as its AI and data-center segment (server racks, liquid cooling, power infrastructure for hyperscaler buildouts) keeps outrunning the legacy electronics-manufacturing base. Sell-side sentiment has turned decisively bullish over the past couple of months, with a run of price-target increases on the view that AI-infrastructure demand and an improving mix toward higher-margin cloud and capital-equipment revenue can keep justifying the re-rating — so buy-side expectations look to be running ahead of the printed consensus. The long-run growth columns need context here: the 1-year (-46.9%) and 5-year (+76.4%) figures are both distorted by Jabil's divestiture of its mobility manufacturing business a few years back rather than by anything in today's business; the 10-year trend (+15.1% annualized) is the cleaner read. Options are pricing an 8.1% move against a 4.2% average swing on the last eight prints and a perfect eight-for-eight beat streak, so the bar is less about clearing consensus than whether the AI-capex commentary keeps pace with the stock's run. Jabil's numbers are also a read-through for the broader hyperscaler capex cycle and the rest of the contract-manufacturing group exposed to the same liquid-cooling and server buildout.
FactSet's setup is the mirror image of the other two: consensus implies a step-down both on EPS (down 4.0% vs prev.Q.) and, more modestly, on revenue (up just 1.1% vs prev.Q.), coming off a full-year guide that already flagged higher technology and AI-platform spending pressuring near-term margins — the prior quarter's gross and net margins were both down slightly versus the quarter before. The story here trades on organic annual subscription value growth and renewal retention rather than any single quarter's EPS beat; the buy-side debate is whether the stepped-up AI investment (workflow tools, data expansion) starts converting into faster subscription growth or keeps weighing on margins for another few quarters, with bears seeing an extending investment cycle and bulls reading the conservative setup as room for upside if retention holds. The nearest listed options expiry is the October monthly, 16 days out, so the priced 9.2% swing spans that window rather than the print alone and isn't a read on event risk the way the other two names' figures are. FactSet has missed consensus twice in its last eight prints (a 75% beat rate), against a 1.8% surprise last time, so the bar for guidance credibility is real. A soft print or cautious commentary would read across negatively for MSCI and the other subscription-research names trading on similar renewal economics.
| Company | Time | Cons. EPS | EPS range | EPS vs prev.Q | Rev. cons. | Rev. vs prev.Q | GM / NM prev.Q | Implied move | Hist. avg | Beat rate | EPS 1Y | EPS 3Y | EPS 5Y | EPS 10Y |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Micron Technology MU Information Technology · $1.20T | After-close | $31.82 | $30.20 – $37.44 · 33 est | +26.7% | $51.47B | +24.2% | 84.6% / 68.1% +10.2 / +10.4 pp | 7.6% | 1.4% | 100% | +990.7% | -0.7% | +26.2% | +11.8% |
Jabil JBL Information Technology · $33.41B | Pre-open | $4.08 | $4.00 – $4.17 · 9 est | +29.1% | $9.72B | +11.1% | 9.5% / 3.1% +0.5 / +0.5 pp | 8.1% | 4.2% | 100% | -46.9% | -4.9% | +76.4% | +15.1% |
FactSet FDS Financials · $9.25B | Pre-open | $4.35 | $4.22 – $4.52 · 16 est | -4.0% | $629.8M | +1.1% | 49.9% / 20.3% -1.6 / -1.4 pp | 9.2% monthly expiry, 16d out | 5.7% | 75% | +11.8% | +14.9% | +10.0% | +10.5% |
Scorecard — reported since we last wrote
Nothing printed since our last edition to grade this morning.
No results to score from the prior edition.
Rest of the week
Just one day left on this week's calendar. Accenture opens Thursday priced for a sequential step-down against last quarter's $3.80, with bookings momentum and how much of the generative-AI services pipeline is converting to billed revenue the focus. Nike follows after the close, also priced below last quarter's $0.72, its first read on demand and margin trends heading into the holiday season.
| Day | Company | Time | Cons. EPS | Prev Q EPS | Implied move |
|---|---|---|---|---|---|
| Thursday Oct 1 | Accenture ACN | Pre-open | $3.21 | $3.80 | 7.5% |
Nike, Inc. NKE | After-close | $0.44 | $0.72 | 8.6% |
Informational only — not investment advice. Figures are consensus/estimates and option-implied values from public sources and may be revised.