Stocks close mixed as earnings beats drive gains for Caterpillar and Eli Lilly, while Hershey and CNX decline on concerns.
Stock Earnings Results
May 1, 2026
Table of Contents
April 30, 2026
Stocks closed with mixed reactions on Thursday, as several major companies moved after earnings results, guidance updates, pricing trends, and demand signals.
Here are five stocks that reacted to major company events.
Move: +9.88%
Event: Earnings Beat and Record Backlog
Shares of Caterpillar (NYSE: CAT) rose 9.88% after the company reported stronger-than-expected first-quarter 2026 results, supported by higher sales volume, favorable pricing, and strong order activity.
Caterpillar manufactures construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives.
The company reported adjusted profit per share of $5.54, above estimates of $4.55, representing a 21.8% earnings surprise and 22.2% growth. Revenue came in at $17.41 billion, above estimates of $16.42 billion. Sales and revenue increased 22% year-over-year.
Why It Moved:
Investors focused on the earnings beat, higher sales volume, and management’s comment that the company ended the quarter with a record backlog. For cyclical industrial companies, backlog gives investors better visibility into future demand.
Move: +9.77%
Event: Earnings Beat and Guidance Raise
Shares of Eli Lilly (NYSE: LLY) rose 9.77% after the company reported stronger-than-expected first-quarter results and raised its full-year guidance.
Eli Lilly is a pharmaceutical company focused on medicines across diabetes, obesity, oncology, immunology, and neuroscience.
The company reported non-GAAP EPS of $8.55, above estimates of $7.06, representing a 21.1% earnings surprise and 55.5% growth. Revenue came in at $19.80 billion, above estimates of $17.78 billion. Revenue increased 56% year-over-year, driven primarily by volume growth from Mounjaro and Zepbound.
Why It Moved:
The guidance raise was the main catalyst. Lilly increased full-year revenue guidance to $82.0 billion to $85.0 billion and raised non-GAAP EPS guidance to $35.50 to $37.00, reinforcing investor confidence in its obesity and diabetes drug portfolio.
Move: +3.84%
Event: Earnings Beat and Demand Update
Shares of Royal Caribbean (NYSE: RCL) rose 3.84% after the company reported first-quarter results that exceeded expectations, supported by stronger revenue, lower costs, and better joint venture performance.
Royal Caribbean Group operates global cruise vacation brands and destinations, including Royal Caribbean International, Celebrity Cruises, and Silversea.
The company reported adjusted EPS of $3.60, above estimates of $3.20, representing a 12.5% earnings surprise and 11.3% growth. Revenue came in at $4.5 billion, matching estimates, while total revenue increased 11% year-over-year. First-quarter load factor reached 109%.
Why It Moved:
Investors reacted to strong demand signals, including a record WAVE season and recovered booking momentum after temporary weakness tied to geopolitical developments. The company also returned about $1.1 billion to shareholders through buybacks and dividends.
Move: -1.81%
Event: Earnings Beat
Shares of Hershey (NYSE: HSY) fell 1.81% despite reporting first-quarter results above expectations, as investors weighed pricing-driven sales growth against volume pressure and higher costs.
Hershey is a packaged food company best known for chocolate and confectionery brands including Hershey’s, Reese’s, Kit Kat, and other snack products.
The company reported adjusted EPS of $2.35, above estimates of $2.05, representing a 14.6% earnings surprise and 10.6% growth. Revenue came in at $3.10 billion, above estimates of $3.03 billion. Consolidated net sales increased 10.6% year-over-year, while organic constant currency sales rose 7.9%.
Why It Moved:
The stock decline suggests investors focused on the quality of growth. Hershey’s sales increase was driven mainly by price realization, while volume declined by about 2 points due to elasticity pressure. Higher commodity and tariff-related costs also weighed on adjusted gross margin.
Move: -1.04%
Event: Earnings Beat and Free Cash Flow Update
Shares of CNX Resources (NYSE: CNX) fell 1.04% even after the company reported first-quarter results that beat analyst expectations.
CNX Resources is a natural gas exploration and production company focused on Appalachian Basin assets, including Marcellus and Utica shale development.
The company reported EPS of $1.17, above estimates of $0.86, representing a 36.0% earnings surprise and 854.8% growth. Revenue came in at $786.65 million, above estimates of $550.46 million.
Why It Moved:
The modest decline suggests investors looked beyond the earnings beat and focused on commodity price sensitivity. CNX generated $139 million in free cash flow, marking its 25th consecutive quarter of positive free cash flow generation, but the company noted that expected 2026 free cash flow declined modestly due to lower NYMEX pricing since its January update.
Today’s reactions show that earnings beats alone do not guarantee positive stock performance.
Across these five stocks, the market rewarded companies with:
The market punished or muted stocks where investors questioned:
Earnings reports move stocks when they change expectations.
Caterpillar and Eli Lilly rallied because their reports pointed to stronger future earnings power. Royal Caribbean gained on demand resilience and capital return. Hershey and CNX declined despite beats because investors focused on the durability of growth and exposure to cost or commodity risks.
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