Quarterly earnings triggered sharp moves across Wall Street on Wednesday, with healthcare, clean-energy and software stocks among the strongest gainers, while disappointing forecasts and revenue misses punished several high-profile companies.
NEW YORK, July 29, 2026 — Updated at approximately 11:00 a.m. ET
Wall Street traded lower on Wednesday, but the decline in the major indices concealed much larger movements in individual stocks.
GE HealthCare, Bloom Energy, Manhattan Associates and Ford were among the notable gainers following encouraging quarterly results. CoStar Group, Vertiv and Humana moved sharply lower as investors focused on disappointing revenue, cautious forecasts or the absence of an outlook upgrade.
The session demonstrated once again that reporting better-than-expected earnings is not always sufficient. With valuations elevated in several sectors, companies also need to meet revenue expectations and provide convincing guidance.
Key takeaways
- GE HealthCare gained almost 12% after beating profit expectations.
- Bloom Energy rallied following record revenue and a substantial increase in its 2026 outlook.
- Manhattan Associates benefited from stronger guidance and continued cloud growth.
- Ford advanced after raising its annual profit forecast.
- CoStar fell after reducing its full-year revenue outlook.
- Vertiv tumbled despite beating profit expectations because quarterly revenue missed forecasts.
- Humana declined after maintaining rather than increasing its annual earnings guidance.
Leading gainers and losers
The following figures are intraday or pre-market indications recorded on July 29 and may change significantly before the closing bell.
| Company | Ticker | Indicated move | Main catalyst |
|---|---|---|---|
| GE HealthCare | GEHC | approximately +12% | Earnings beat and record orders |
| Bloom Energy | BE | approximately +9% to +11% | Record revenue and stronger guidance |
| Manhattan Associates | MANH | approximately +11% pre-market | Higher full-year outlook |
| Ford | F | approximately +6% | Improved annual profit forecast |
| CoStar Group | CSGP | approximately −15% to −17% | Reduced revenue guidance |
| Vertiv | VRT | approximately −10% to −13% | Quarterly revenue miss |
| Humana | HUM | approximately −5% to −9% | Unchanged annual outlook |
| Procter & Gamble | PG | approximately −3% | Slower growth expectations |
These are notable moves among established, actively traded US-listed companies—not a ranking of every microcapitalisation on the NYSE and Nasdaq.
GE HealthCare jumps on strong imaging demand
GE HealthCare was one of the strongest performers in the S&P 500, rising approximately 12% during morning trading.
The medical-technology company reported adjusted earnings of $1.13 per share, ahead of the $1.04 expected by analysts. Revenue increased to approximately $5.30 billion, also slightly exceeding expectations.
Demand was particularly strong in imaging and pharmaceutical diagnostics. Comparable orders increased by more than 11%, while the company’s backlog reached a record $23.9 billion.
GE HealthCare also benefited from $129 million in tariff refunds. The company maintained its full-year profit forecast despite higher costs for memory chips, freight and energy. Reuters
The share-price reaction suggests that investors were encouraged not only by the earnings beat but also by the strength of future demand indicated by the record backlog.
Bloom Energy rallies after record quarterly revenue
Bloom Energy shares advanced after the fuel-cell company delivered results well above Wall Street expectations.
Quarterly revenue reached approximately $1.07 billion, increasing 165.5% from a year earlier and surpassing the consensus estimate of around $826 million. Adjusted earnings of $0.78 per share were also considerably higher than the $0.41 expected.
Management raised its 2026 revenue forecast to between $3.9 billion and $4.2 billion. The midpoint would represent approximately twice the revenue generated in 2025.
Demand from AI data centres, cloud operators and other electricity-intensive facilities continues to support the company’s growth. These customers are increasingly seeking power supplies that can be deployed more quickly than conventional grid infrastructure. Barron’s
The advance nevertheless comes with considerable volatility. Bloom Energy had already experienced a powerful rally before the latest results, leaving investors highly sensitive to changes in growth expectations.
Manhattan Associates rises after increasing its outlook
Supply-chain software specialist Manhattan Associates gained approximately 11% in pre-market trading.
Second-quarter revenue reached $297.8 million, compared with $272 million during the corresponding period last year. Management increased its full-year projections, forecasting revenue of between $1.160 billion and $1.166 billion and adjusted earnings of $5.44 to $5.50 per share.
Cloud revenue is expected to reach approximately $505.5 million for the year, representing growth of around 24%. The performance reinforced investor confidence in the company’s transition towards recurring cloud-based revenue. Manhattan Associates
Ford gains after lifting its profit forecast
Ford shares climbed more than 6% after the automaker reported stronger-than-expected results and raised its full-year profit outlook.
The move was particularly notable during a session dominated by concerns about expensive oil and slowing economic growth. A higher forecast suggests Ford currently expects its cost controls and product mix to outweigh at least some of the pressures affecting the automobile industry.
Ford’s advance made it one of the strongest performers in the S&P 500 during early trading. Reuters
CoStar falls despite rapidly increasing profit
CoStar Group demonstrated why headline profit growth does not always produce a positive market reaction.
The commercial-property data company reported an 18% increase in quarterly revenue and said adjusted EBITDA more than doubled. Net income also increased sharply from the previous year.
However, revenue of approximately $925 million was slightly below market expectations. More importantly, CoStar reduced its full-year revenue forecast to between $3.715 billion and $3.755 billion, down from its previous projection of $3.78 billion to $3.82 billion.
That reduction outweighed the improved profitability, sending the shares down approximately 15% to 17% in early indications. Investors remain concerned about spending on Homes.com, the timing of its profitability and the effect of difficult property-market conditions. CoStar Group, Barron’s
Vertiv tumbles as revenue falls short
Vertiv declined by approximately 10% to 13%, making it one of the session’s most significant large-cap losers.
The data-centre infrastructure specialist earned an adjusted $1.52 per share, exceeding the $1.43 consensus estimate. Sales increased by more than 24% to $3.27 billion, but analysts had expected approximately $3.38 billion.
Management raised its annual earnings forecast, but the market concentrated on the revenue shortfall and project-timing issues. The reaction was intensified by concerns that valuations among AI-infrastructure companies already incorporate exceptionally strong future demand.
Vertiv’s shares had gained substantially before the report, increasing the risk that anything short of an unambiguous earnings beat would trigger profit-taking. Barron’s
Humana slides after keeping its forecast unchanged
Humana reported adjusted quarterly earnings of $7.61 per share, beating the approximately $7.22 expected by analysts. Nevertheless, its shares declined.
The health insurer maintained its full-year adjusted earnings forecast of at least $9 per share rather than increasing it. After strong recent share-price performance and encouraging results from competitors, investors had expected more.
Humana’s medical cost ratio reached 91.2%, up from 89.7% a year earlier. The ratio measures the proportion of insurance premiums used to cover patient care and is closely watched as an indication of profitability.
The combination of elevated medical costs and unchanged guidance therefore overshadowed the quarterly earnings beat. Reuters
Procter & Gamble retreats on cautious expectations
Procter & Gamble lost approximately 3% after its outlook pointed to slowing growth and weaker-than-expected profit development.
Consumer-goods companies are confronting a difficult balance between maintaining sales volumes and raising prices to offset input costs. A renewed increase in oil prices could affect packaging, manufacturing and transportation expenses.
The decline also reflects the demanding expectations placed on traditionally defensive companies when investors seek protection from broader market volatility.
Earnings quality matters more than headline beats
Wednesday’s stock movements reveal three recurring patterns in the current market.
First, investors are rewarding companies that combine strong quarterly results with improving forecasts. GE HealthCare, Bloom Energy and Manhattan Associates all benefited from evidence that their growth could continue beyond the latest quarter.
Second, revenue performance matters as much as earnings. Cost reductions can produce an earnings beat, but they may not reassure investors if sales or future demand appear weaker. Vertiv and CoStar illustrate this distinction.
Third, expectations are often more important than the published numbers. Humana exceeded quarterly estimates but fell because investors wanted an improved annual forecast. Vertiv raised its earnings guidance but still declined because its revenue result failed to meet an already demanding valuation.
What to watch before the closing bell
Investors should monitor:
- whether the morning’s largest gains survive broader market weakness;
- whether falling shares stabilise after their initial earnings reactions;
- movements in Treasury yields and oil prices;
- the Federal Reserve’s monetary-policy announcement;
- results from Microsoft and Meta after the closing bell.
The Fed decision could change the market’s overall direction, while the Big Tech reports may generate another group of major winners and losers during Thursday’s session.
For now, the clearest lesson from Wednesday’s trading is that companies must deliver more than acceptable results. With expectations high, revenue, guidance and evidence of durable demand determine whether a quarterly report produces a rally—or a sharp sell-off.
Prices and percentage movements are intraday or pre-market indications recorded on July 29, 2026. They may be delayed and can change before the market closes. This article is for informational purposes only and does not constitute investment advice.
