Earnings season keeps the tape honest from next week and options markets are already laying down markers for how violent the post-print reaction could be, according to Benzinga Pro.
This Benzinga-selected watchlist leans heavily toward retail, with a pair of large-cap software names mixed in. The marquee name on this list is Oracle, but the biggest implied move is saved for the final section as the countdown runs from the calmest setup to the most volatile for the week ending 12 September.
9. Macy’s | Mkt Cap: $5.9B | Implied Move: 7.53%
Macy’s Inc. (NYSE:M) reports second quarter of 2026 results on Thursday before the opening bell.
Wall Street is looking for 35 cents in earnings per share on $4.77 billion in revenue, compared with 41 cents on $4.81 billion a year ago — a setup that puts the focus on whether the department-store operator can defend margins and demand as it cycles last year’s quarter.
Benzinga Pro data show options are pricing in a 7.53% move, the smallest implied swing on this list. Even so, that still represents about $447 million of market value at stake.
Macy’s runs roughly 430 Macy’s stores alongside Bloomingdale’s and Bluemercury, so investors tend to treat the print as a read-through on discretionary spending and promotional intensity. The stock carries a Hold consensus rating, and the stock is trading near the 180-day average analyst price forecast; in August, UBS and Citigroup raised their price forecast, while Morgan Stanley moved its rating to Overweight.
Shares have slipped in 2026, down 1.2% year-to-date, but they’ve held 4.5% above the 200-day moving average since the 50-day moving average crossed above the 200-day in June. The stock sits about 15% below the 52-week high of $26.59.
8. Adobe | Mkt Cap: $110B | Implied Move: 7.90%
Adobe Inc. (NASDAQ:ADBE) reports third quarter of 2026 results on Thursday after the closing bell.
Consensus estimates call for $5.84 in earnings per share on $6.70 billion in revenue, up from $5.31 on $5.99 billion in the prior-year quarter. For investors, the debate typically centers on how durable software demand is across creative tools, document workflows and digital marketing as customers weigh budgets.
According to Benzinga Pro, the options market is implying a 7.90% move, putting about $8.72 billion of market value at stake given Adobe’s $110 billion market cap.
Adobe sells content creation, document management, and digital marketing and advertising software and services, and the quarter can reset expectations around product momentum and monetization. The stock carries a Hold consensus rating, and the share price sits above the 180-day average analyst price forecast; in September, Barclays, RBC Capital, and Citigroup raised their price forecasts.
The stock has declined in 2026, down 14.3% year-to-date, while still trading 3.6% above the 200-day moving average. Shares remain about 25% below the 52-week high of $370.86.
7. Chewy | Mkt Cap: $9.8B | Implied Move: 10.41%
Chewy, Inc. (NYSE:CHWY) reports second quarter of 2026 results on Wednesday before the opening bell.
Analysts expect 36 cents in earnings per share on $3.36 billion in revenue, compared with 33 cents on $3.10 billion a year ago. With pet spending often viewed as steadier than other discretionary categories, the market tends to key in on whether growth and profitability can climb together.
Benzinga Pro data show options are pricing in a 10.41% move, or roughly $1.02 billion of market value at stake.
Chewy is an e-commerce retailer of pet food, toys, supplies, and medications in North America, and the earnings call can shape sentiment around customer retention and category mix. The stock carries a Buy consensus rating, and the 180-day average analyst price forecast sits well above where the stock trades; in August, Morgan Stanley reiterated Overweight but cut its price forecast, while Rosenblatt initiated coverage with a Neutral rating.
Chewy has pulled back in 2026, down 28.5% year-to-date and trading 7.5% below the 200-day moving average. The shares sit about 45% below the 52-week high of $43.50.
6. Oracle | Mkt Cap: $451B | Implied Move: 10.58%
Oracle Corp (NYSE:ORCL) reports first quarter of 2027 results on Thursday after the closing bell.
The Street is modeling $1.67 in earnings per share on $19.13 billion in revenue, up from $1.47 on $14.93 billion in the year-ago quarter. With Oracle’s scale, the quarter can hinge as much on guidance and mix as on the headline beat or miss.
According to Benzinga Pro, options are implying a 10.58% move — a sizable swing for a $451 billion company — with about $47.8 billion of market value at stake.
Oracle sells enterprise applications and infrastructure across on-premises, cloud-based and hybrid deployments, so investors will be listening for signals on cloud demand and the pace of enterprise spending. The stock carries a Buy consensus rating, and shares trade well below the 180-day average analyst price forecast; in September, Jefferies and TD Cowen reiterated Buy ratings while cutting their price forecasts.
Oracle has pulled back in 2026, down 21.3% year-to-date and trading 7.4% below the 200-day moving average. The shares sit about 55% below the 52-week high of $345.72.
5. Signet Jewelers | Mkt Cap: $3.2B | Implied Move: 10.61%
Signet Jewelers Limited (NYSE:SIG) reports second quarter of 2027 results on Wednesday before the opening bell.
Consensus calls for $1.73 in earnings per share on $1.53 billion in revenue, compared with $1.61 on $1.53 billion a year ago. With revenue expected to be flat year over year, the market’s attention often shifts to profitability and demand trends in higher-ticket categories.
Benzinga Pro data show the options market is pricing in a 10.61% move, which equates to about $339 million of market value at stake.
Signet Jewelers is a retailer of diamond jewelry spanning bridal and fashion, and the quarter can influence expectations for engagement and gifting demand. The stock carries a Buy consensus rating, and the stock is trading well below the 180-day average analyst price forecast; in August, UBS reiterated Buy and raised its price forecast, and in July, Raymond James initiated coverage with an Outperform rating.
Signet Jewelers has pulled back in 2026, down 4.7% year-to-date and trading 7.3% below the 200-day moving average. The shares sit about 25% below the 52-week high of $110.20.
4. RH | Mkt Cap: $2.8B | Implied Move: 12.66%
RH (NYSE:RH) reports second quarter of 2026 results on Thursday after the closing bell.
Wall Street expects $1.78 in earnings per share on $936.25 million in revenue, compared with $2.93 on $899.15 million in the prior-year quarter. That mix — higher sales but lower earnings — sets up a quarter where investors may focus on cost structure and demand elasticity in premium home furnishings.
According to Benzinga Pro, options are implying a 12.66% move, putting about $351 million of market value at stake.
RH operates as a luxury furniture and lifestyle retailer, and the print can quickly shift sentiment on the health of big-ticket discretionary spending. The stock carries a Hold consensus rating, and the share price sits below the 180-day average analyst price forecast; in August, Wells Fargo reiterated Overweight and raised its price forecast, while JP Morgan reiterated Overweight but cut its price forecast.
RH has pulled back in 2026, down 24.2% year-to-date, and it’s trading 9.8% below the 200-day moving average even after the 50-day moving average crossed above the 200-day in August. The shares sit about 43% below the 52-week high of $257.00.
3. Academy Sports and Outdoors | Mkt Cap: $2.7B | Implied Move: 12.87%
Academy Sports and Outdoors, Inc. (NASDAQ:ASO) reports second quarter of 2026 results on Wednesday before the opening bell.
Analysts are looking for $2.08 in earnings per share on $1.66 billion in revenue, up from $1.94 on $1.60 billion a year ago. For a sporting-goods retailer, the quarter can turn on category strength across outdoors, apparel, footwear and sports & recreation.
Benzinga Pro data show options are pricing in a 12.87% move, representing about $351 million of market value at stake.
Academy Sports and Outdoors sells a broad mix of sporting goods and outdoor recreation products in the U.S., and the report can recalibrate expectations for traffic and promotional cadence. The stock carries a Buy consensus rating, and the 180-day average analyst price forecast sits well above where the stock trades; in September, Telsey Advisory Group reiterated Outperform and cut its price forecast, and in July, Evercore ISI Group reiterated an In-Line rating while cutting its price forecast.
Academy Sports and Outdoors has pulled back in 2026, down 16.2% year-to-date, and it’s trading 15.9% below the 200-day moving average after the 50-day moving average crossed below the 200-day in June. The shares sit about 30% below the 52-week high of $62.45.
2. American Eagle Outfitters | Mkt Cap: $2.9B | Implied Move: 13.47%
American Eagle Outfitters (NYSE:AEO) reports second quarter of 2026 results on Wednesday after the closing bell.
The consensus view calls for 27 cents in earnings per share on $1.36 billion in revenue, versus 45 cents on $1.28 billion a year ago. That year-over-year earnings step-down raises the stakes for guidance and any commentary on demand and markdowns.
According to Benzinga Pro, the options market is implying a 13.47% move, or about $384 million of market value at stake.
American Eagle Outfitters sells apparel and accessories across company stores in the U.S., Canada, Mexico, and Hong Kong, and the quarter can quickly swing sentiment on teen and young-adult spending. The stock carries a Hold consensus rating, and shares trade below the 180-day average analyst price forecast; in August, JP Morgan reiterated Neutral and raised its price forecast, while B of A Securities maintained an Underperform rating.
American Eagle Outfitters has pulled back in 2026, down 35.5% year-to-date and trading 13.9% below the 200-day moving average. The shares sit about 40% below the 52-week high of $28.46.
1. AeroVironment | Mkt Cap: $7.5B | Implied Move: 16.40%
AeroVironment, Inc. (NASDAQ:AVAV) reports first quarter of 2027 results on Wednesday after the closing bell.
Wall Street is forecasting 30 cents in earnings per share on $462.84 million in revenue, compared with 32 cents on $454.68 million in the year-ago quarter. With expectations clustered tightly, the market can be sensitive to any shift in growth trajectory or outlook.
Benzinga Pro data show options are pricing in a 16.40% move — the widest implied swing in this lineup — putting about $1.22 billion of market value at stake.
AeroVironment is a defense technology provider delivering integrated capabilities across air, land, sea, space, and cyber, and the earnings call can reshape expectations for demand and execution. The stock carries a Buy consensus rating, and the stock is trading well below the 180-day average analyst price forecast; in July, Raymond James upgraded the stock to Outperform, while Citizens and Canaccord Genuity reiterated bullish stances but cut their price forecasts.
AeroVironment has pulled back sharply in 2026, down 42.5% year-to-date and trading 31.2% below the 200-day moving average. The shares sit about 65% below the 52-week high of $417.86.
Photo: g0d4ather from Shutterstock
Login to comment