ETD

Earnings season keeps the tape busy from next week and options markets are already laying down markers on how violent the post-print reaction could be across a Benzinga-selected mix of mega-cap tech, consumer staples, restaurants, pharma and semis, according to Benzinga Pro.

The marquee name on this list is Alphabet, but the biggest implied move is saved for the final section as the countdown runs from the calmest setup to the most volatile.

9. Coca-Cola | Mkt Cap: $407B | Implied Move: 3.69%

Coca-Cola Company (NYSE:KO) reports third quarter of 2026 results Tuesday before the opening bell. Wall Street is looking for 88 cents in earnings per share on $12.92 billion in revenue, compared with 82 cents and $12.46 billion a year ago.

Benzinga Pro data show options are pricing in a 3.69% move around the report. Even with the smallest implied swing on this Benzinga-selected list, that still translates to about $15 billion of market value at stake given Coca-Cola’s $407 billion market cap.

Coca-Cola remains a bellwether for global beverage demand, spanning everything from soda to water, sports drinks, energy, juice and coffee. The stock carries a Buy consensus rating, and the stock is trading near the 180-day average analyst price forecast; in October, Barclays and Citigroup raised their price forecast, according to the analyst context compiled by Benzinga Pro.

Shares have rallied in 2026, up 37.9% year-to-date and trading 16.3% above the 200-day moving average. The stock is within 0.6% of the 52-week high of $94.10.

8. Microsoft Corp | Mkt Cap: $3.8T | Implied Move: 4.86%

Microsoft Corp (NASDAQ:MSFT) reports Q1 2027 results Wednesday after the closing bell. Consensus estimates call for $4.72 in EPS on $90.67 billion in revenue, up from $4.13 and $77.67 billion in the prior-year period.

Options traders are implying a 4.86% move, according to Benzinga Pro, putting roughly $187 billion of market value in play given Microsoft’s $3.84 trillion size. With expectations tied to enterprise software demand, cloud momentum and AI-driven product cycles, even a "mid-single-digit" implied move can matter.

Microsoft develops and licenses consumer and enterprise software, anchored by Windows and Office. It carries a Buy consensus rating, and the share price sits below the 180-day average analyst price forecast; in October, BMO Capital and Bernstein raised their price forecasts, per Benzinga Pro’s analyst roundup.

Shares have rallied in 2026, up 10.2% year-to-date, trading 18.7% above the 200-day moving average since the 50-day moving average crossed above the 200-day in August. The shares sit about 48% above the 52-week low of $349.20.

7. Alphabet | Mkt Cap: $4T | Implied Move: 5.66%

Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) reports third quarter of 2026 results Wednesday after the closing bell. The Street is modeling $3.02 in EPS on $128.20 billion in revenue, versus $2.87 and $102.35 billion a year ago.

According to Benzinga Pro, the options market is pricing in a 5.66% move, which equates to about $224 billion of market value at stake on Alphabet’s $3.96 trillion market cap. For a company where advertising trends can shift quickly with macro and competition, that implied range sets a wide forecast for both results and guidance.

Alphabet is the holding company for Google, and it generates slightly less than 90% of revenue from Google services—mostly advertising. The stock carries a Buy consensus rating, and the 180-day average analyst price forecast sits well above where the stock trades; in October, Citizens and Keybanc cut their price forecasts while BMO Capital raised its forecast, based on Benzinga Pro’s analyst context.

Alphabet has been the weakest YTD name in this group, up 2.9% year-to-date and trading 5.2% below the 200-day moving average. The shares sit about 21% below the 52-week high of $408.61.

6. Starbucks | Mkt Cap: $115B | Implied Move: 6.12%

Starbucks Corp (NASDAQ:SBUX) reports fourth quarter of 2026 results Thursday after the closing bell. Analysts expect 72 cents in EPS on $9.23 billion in revenue, compared with 52 cents and $9.57 billion in the year-ago quarter.

Benzinga Pro data show a 6.12% implied move, with about $7.06 billion of market value at stake based on Starbucks’ $115 billion market cap. That’s a meaningful setup for a consumer-facing name where traffic, pricing and international performance can all swing sentiment quickly.

Starbucks is the world’s largest coffee brand, with nearly 41,000 cafes across more than 80 countries and a mix of company-operated stores and licensed locations. It carries a Buy consensus rating, and shares trade below the 180-day average analyst price forecast; in October, Wells Fargo and Citigroup cut their price forecasts, according to Benzinga Pro’s analyst notes.

Shares have rallied in 2026, up 21.4% year-to-date and trading 1.8% above the 200-day moving average. The shares sit about 30% above the 52-week low of $77.99.

5. Amazon | Mkt Cap: $2.7T | Implied Move: 7.22%

Amazon.Com Inc. (NASDAQ:AMZN) reports third quarter of 2026 results Thursday after the closing bell. Consensus calls for $1.96 in EPS on $202.24 billion in revenue, compared with $1.95 and $180.17 billion a year ago.

Options are pricing in a 7.22% move around earnings, according to Benzinga Pro, putting roughly $194 billion of market value at stake for Amazon.Com. With retail still the bulk of revenue and AWS and advertising services carrying outsized profit implications, the market often treats the quarter as a read-through on multiple engines at once.

Amazon is the leading online retailer and marketplace for third-party sellers, with revenue also coming from Amazon Web Services and advertising services. The stock carries a Buy consensus rating, and the stock is trading well below the 180-day average analyst price forecast; in October, Morgan Stanley raised its price forecast while Wells Fargo cut its forecast, per Benzinga Pro’s analyst context.

Shares have rallied in 2026, up 10.5% year-to-date and trading 2.6% above the 200-day moving average. The shares sit about 27% above the 52-week low of $196.

4. Eli Lilly | Mkt Cap: $1.2T | Implied Move: 7.23%

Eli Lilly & Co. (NYSE:LLY) reports third quarter of 2026 results Thursday before the opening bell. Wall Street is looking for $7.15 in EPS on $22.55 billion in revenue, up from $7.02 and $17.60 billion in the prior-year quarter.

Benzinga Pro data show options implying a 7.23% move, with about $83.8 billion of market value at stake given Eli Lilly &’s $1.16 trillion market cap. For a mega-cap drugmaker, that’s a sizable implied range—and it underscores how much investors can reprice growth expectations on a single update.

Eli Lilly is a pharmaceutical company focused on neuroscience, cardiometabolic, cancer and immunology. It carries a Buy consensus rating, and the share price sits below the 180-day average analyst price forecast; in October, Leerink Partners and Cantor Fitzgerald raised their price forecasts, according to Benzinga Pro’s analyst roundup.

Shares have rallied in 2026, up 20.9% year-to-date and trading 19.9% above the 200-day moving average. The stock is within 0.9% of the 52-week high of $1311.75.

3. Servicenow | Mkt Cap: $160B | Implied Move: 9.52%

Servicenow, Inc. (NYSE:NOW) reports third quarter of 2026 results Wednesday after the closing bell. The consensus view calls for $1.03 in EPS on $4.09 billion in revenue, compared with 96 cents and $3.41 billion a year ago.

According to Benzinga Pro, options are pricing in a 9.52% move, putting about $15.3 billion of market value at stake. That’s a larger implied swing than the mega-cap peers on this list, reflecting how quickly software multiples can reset when growth and forward commentary shift.

Servicenow sells SaaS tools that help enterprises structure and automate business processes, with a core focus on IT workflows. The stock carries a Buy consensus rating, and the 180-day average analyst price forecast is close to where the stock trades; in October, Truist Securities, StoneX, and Piper Sandler raised their price forecast, per Benzinga Pro’s analyst context.

Servicenow has climbed 6.5% year-to-date and has become the most extended above its 200-day moving average in this group, trading 34.7% above that level since the 50-day moving average crossed above the 200-day in September. The shares sit about 20% below the 52-week high of $192.97.

2. Intel | Mkt Cap: $458B | Implied Move: 10.54%

Intel Corp (NASDAQ:INTC) reports third quarter of 2026 results Thursday after the closing bell. Analysts expect 39 cents in EPS on $16.45 billion in revenue, compared with 23 cents and $13.65 billion in the year-ago quarter.

Benzinga Pro data show a 10.54% implied move, with about $48.3 billion of market value at stake based on Intel’s $458 billion market cap. That’s a big implied range for a legacy chipmaker, highlighting how sensitive positioning can be to demand signals across PCs and data centers.

Intel designs and manufactures microprocessors for global personal computer and data center markets. The stock carries a Hold consensus rating, and shares trade well below the 180-day average analyst price forecast; in October, Susquehanna and TD Cowen cut their price forecasts while JP Morgan upgraded the stock to Neutral, according to Benzinga Pro’s analyst summary.

Shares have rallied in 2026, up 117.1% year-to-date and trading 1.2% above the 200-day moving average. Even after that run, the shares sit about 39% below the 52-week high of $142.35.

1. Sandisk | Mkt Cap: $189B | Implied Move: 11.71%

Sandisk Corp. (NASDAQ:SNDK) reports first quarter of 2027 results Thursday after the closing bell. Consensus estimates call for $46.22 in EPS on $10.64 billion in revenue, compared with $1.22 and $2.31 billion a year ago.

Options traders are pricing in an 11.71% move, according to Benzinga Pro—the widest implied swing on this Benzinga-selected list. With Sandisk valued at about $189 billion, that implies roughly $22.1 billion of market cap in play around the print.

Sandisk is one of the five largest suppliers of NAND flash memory semiconductors globally, with vertically integrated production across Japan through a joint venture framework with Kioxia. The stock carries a Buy consensus rating, and the stock is trading well below the 180-day average analyst price forecast, per Benzinga Pro.

Sandisk is also the group’s YTD leader, up 358.1% in 2026 and trading 4.9% above the 200-day moving average. The shares sit about 45% below the 52-week high of $2354.39.

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