At a glance: 8 S&P 500 names report today — headlined by Apple after the close, alongside Diamondback Energy, Entergy, IDEXX, Estée Lauder, Fox and Clorox before and after today's session.

The earnings calendar carries no confirmed session for Axon Enterprise or AES Corporation today; either date is provisional, and the company may report later in the period.

The tape ahead

Apple reports fiscal fourth-quarter results after the close tonight, and the Street is really debating the December-quarter guide more than tonight's print itself. Consensus implies EPS up 7.0% YoY and revenue up 10.5% YoY—both comfortably inside Apple's trailing growth cadence (1-year EPS CAGR of 22.7%) rather than evidence of reacceleration. Gross margin held near 50.1% last quarter, up 0.8 points, and whether that holds is the real question: component and memory costs have risen sharply industry-wide this year, and the debate is how much of that gets passed through versus absorbed into the holiday-quarter guide. Options are pricing a 4.2% move on a stock that has averaged just 0.7% on its last eight reports and beaten every time — a far richer-than-usual straddle for a name this well covered, which says more about how wide the range of guidance outcomes looks than about the print.

Diamondback's consensus EPS of $5.60 implies growth of 81.8% YoY, though that comparison is flattered by a year-ago quarter when crude sat meaningfully lower; revenue growth of 25.1% YoY is the cleaner read on the underlying business. Management lifted full-year production guidance above 1 million BOE/d last quarter and held capex near $3.9 billion, so the debate here is less about volumes than well economics, as Permian power and water costs climb and the EIA's own outlook points to softer crude into 2027. Margins swung sharply in the last reported quarter too — net margin jumped 33.5 points to 34.1% — a move large enough to invite scrutiny of what's one-off versus structural. The 7.4% implied move prices the November monthly expiry 18 days out rather than the print alone, so it isn't a clean read on event risk; the stock's own 62% beat rate over the last eight quarters is the more useful gauge.

Entergy's setup is increasingly a referendum on whether data-center demand is translating into billed load or staying stuck at the indication-of-interest stage: management has talked up a 7-12 gigawatt pipeline, and consensus EPS of $1.70 sits near the top of the utility's own full-year guide. Margins have quietly been a bright spot — gross margin up 5.6 points and net margin up 4.1 points in the most recently reported quarter — one reason the bar keeps creeping higher for a name that has cleared it 88% of the time over the last eight quarters. Consensus implies 11.1% EPS growth YoY; the 5.3% implied move is pricing roughly three weeks of time via the November monthly expiry, not just today's print, so it shouldn't be read as an elevated event expectation on its own. Read-across matters beyond Entergy itself: data-center power demand is the live theme across utilities reporting the rest of this week.

IDEXX is negotiating one of the cleaner structural debates on today's docket: whether CancerDx and its expanding diagnostics menu (now past 10,000 ordering clinics) can keep offsetting soft companion-animal clinic visit volumes. Consensus implies EPS growth of 9.1% YoY and revenue growth of 7.9% YoY — modest next to IDEXX's own 22.6% one-year EPS CAGR, which is the market's way of flagging an expected deceleration. Margins have stayed resilient (net margin up 3.4 points in the last reported quarter), and the beat streak is spotless at 8 for 8. The 10.2% implied move here similarly prices the November monthly expiry 18 days out rather than today's print alone. Read-across matters for the rest of the animal-health complex reporting later this week: a soft premium-diagnostics print would read badly for anyone leveraged to U.S. vet-visit volumes.

Estée Lauder's fiscal first quarter is the first real test of whether its margin-led turnaround can broaden beyond cost cuts. Consensus EPS of $0.51 implies 59.4% growth off a depressed year-ago base, while revenue growth of 4.9% YoY is the more telling number for whether the top line is actually recovering. Management's full-year guide calls for 3-5% organic growth and operating margin expanding into the 12.7%-13.5% range, with China (nine straight quarters of share gains) and a travel-retail recovery that turned positive over the summer for the first time in three years as the two pillars; the open question is whether that travel-retail improvement held through September, and whether fragrance and skincare strength keeps offsetting a still-soft makeup and hair-care mix. Net margin was still negative last quarter (-3.2%, down another 5.6 points), so the market is pricing a beat-and-raise (100% hit rate, last surprise +22.1%) against a straddle (10.5%) that already sits modestly above the stock's own realized-move history (8.7%).

Axon is on today's calendar but the session is unconfirmed — some coverage points instead to a release later this week — so this one is scheduled rather than certain. If it does print today, the setup is a big one: consensus implies EPS up 61.5% YoY and revenue up 31.8% YoY, with the debate centered on whether Future Contracted Bookings growth (recently flagged as slowing) stabilizes, and on margin trajectory after net margin collapsed 17.7 points to 3.2% last quarter, likely reflecting the component-cost pressure management has already flagged. The 13.9% implied move is far above Axon's own realized-move history, reflecting how binary the market considers this one — though with no confirmed session, some of that pricing may simply reflect the date risk itself.

Fox's print is a referendum on whether Tubi's growth and the midterm political ad cycle can offset the fading World Cup tailwind that flattered the last several quarters. Consensus implies EPS growth of 33.8% YoY and revenue growth of 14.8% YoY against a spotless beat record (8 for 8, averaging a 29.3% surprise last time), so the bar is unusually high. Net margin also jumped 12.2 points to 16.4% in the most recent quarter, underscoring how much operating leverage World Cup scale and Tubi delivered — the question now is whether any of that holds with the tailwind gone. Tubi's monthly active users have kept climbing toward 110 million with accelerating revenue growth, but digital investment and the pace of digital losses are worth watching. The 8.4% implied move prices the November monthly expiry rather than the print alone — in line with today's cluster of monthly-dated names — so it reflects extra time on the clock rather than an unusually high event expectation.

Clorox's fiscal first quarter is the first real look at whether the normalization management promised for fiscal 2027 — roughly 3.5 points of sales-growth benefit and $0.90 of EPS benefit as last year's ERP-driven disruption rolls off — is actually showing up. Consensus EPS growth of 25.9% YoY and revenue growth of 31.3% YoY look dramatic, but they're measured against a year-ago quarter still working through that disruption, so the print should be judged on margins and volume trends rather than the YoY optics: gross margin compressed 2.0 points and net margin fell 2.8 points in the last reported quarter, the more honest scorecard on whether cost cuts are offsetting lingering volume pressure. The stock's beat rate has cooled to 75% over the last eight quarters, and the 9.0% implied move prices the November monthly expiry rather than the print alone, so — like several of today's other reporters — it reflects extra time on the clock rather than a signal that the market expects an outsized reaction.

Also reporting today

AES Corporation also appears on today's docket, though — like Axon above — its session is unconfirmed by the calendar; consensus implies an EPS decline of 2.7% YoY against revenue growth of 2.9%.

Scorecard — what printed since we last wrote

Friday previewed nothing, so there is no scorecard to run today — the ledger of expectations-versus-actuals picks back up tomorrow.

No results to score from the prior edition.

Rest of the week

Tuesday is the week's heaviest day by far, led by AMD, Amgen, Arista, Pfizer, Eaton and Marathon Petroleum, with Booking, Apollo, Ametek, Keurig Dr Pepper and Block filling out a dense docket. Wednesday brings McDonald's, Qualcomm, Uber, McKesson, CVS and Constellation Energy, and Thursday is anchored by ConocoPhillips, Parker Hannifin, Southern and Duke alongside Airbnb and EOG Resources. The week thins out sharply by Friday, with Monster Beverage, Moderna, Humana, Vistra, PPL and Franklin Resources the only full-row names left on the board.

Informational only — not investment advice. Figures are consensus/estimates and option-implied values from public sources and may be revised.