Earnings are back in focus on Wednesday with a Benzinga-selected watchlist that runs from consumer and payments to semis, software, ad tech and solar. As investors brace for the one-two punch of results and guidance, the options market is already sketching out how volatile each print could be, according to Benzinga Pro.
The marquee name on this list is McDonald’s but the biggest implied move is saved for the final section as the countdown runs from the calmest setup to the most volatile.
9. McDonald’s | Mkt Cap: $188B | Implied Move: 4.13%
McDonald’s Corp. (NYSE:MCD) reports third quarter of 2026 results before the opening bell. Wall Street is looking for $3.38 in earnings per share on $7.28 billion in revenue, compared with $3.22 on $7.08 billion a year ago.
Benzinga Pro data show options are pricing in a 4.13% move, the smallest implied swing on this Benzinga-selected list — but with a $188 billion market cap, that still translates to $7.75 billion of market value at stake.
McDonald’s remains the world’s largest restaurant brand, with nearly $139 billion in systemwide sales across more than 45,000 restaurants in over 100 markets. The stock carries a Buy consensus rating, and the stock is trading below the 180-day average analyst price forecast. In October, Mizuho reiterated its Neutral rating and cut its price forecast, while Citigroup reiterated its Buy rating and cut its price forecast.
The stock has pulled back in 2026, down 12.4% year-to-date and trading 7.1% below the 200-day moving average. McDonald’s sits about 23% below the 52-week high of $341.75.
8. Uber | Mkt Cap: $137B | Implied Move: 7.01%
Uber Technologies, Inc. (NYSE:UBER) reports third quarter of 2026 results before the opening bell. Consensus estimates call for 97 cents in earnings per share on $14.70 billion in revenue, versus 81 cents on $13.47 billion in the year-ago quarter.
Options traders are implying a 7.01% move around the report, according to Benzinga Pro. With Uber Technologies valued at $137 billion, that’s $9.59 billion of market value in play.
Uber Technologies runs a platform that matches riders with drivers, diners with restaurants and couriers, and shippers with carriers — leaving investors focused on whether demand trends and take rates can keep supporting profit growth. The stock carries a Buy consensus rating, and the share price sits well below the 180-day average analyst price forecast. In November, UBS reiterated its Buy rating and cut its price forecast, and in October Guggenheim reiterated its Buy rating.
Uber Technologies has pulled back in 2026, down 19.5% year-to-date and trading 8.5% below the 200-day moving average. The stock is within 4.6% of the 52-week low of $64.04.
7. Fidelity National Information Services | Mkt Cap: $21B | Implied Move: 7.28%
Fidelity National Information Services, Inc. (NYSE:FIS) reports third quarter of 2026 results before the opening bell. The Street is modeling $1.60 in earnings per share on $3.43 billion in revenue, compared with $1.51 on $2.72 billion a year earlier.
According to Benzinga Pro, the options market is implying a 7.28% move. For a company with a $20.6 billion market cap, that puts roughly $1.5 billion of market value at stake.
Fidelity National Information Services sells core processing and ancillary services to banks and has expanded into record-keeping and other services for investment firms. The stock carries a Buy consensus rating, and the 180-day average analyst price forecast is above where the stock trades. In October, Truist Securities, Citigroup, and Cantor Fitzgerald cut their price forecasts — a backdrop that keeps attention on execution and any forward commentary.
Fidelity National Information Services has pulled back in 2026, down 38.8% year-to-date and trading 8.3% below the 200-day moving average. The shares sit about 41% below the 52-week high of $68.37.
6. Qualcomm | Mkt Cap: $173B | Implied Move: 8.33%
Qualcomm Inc. (NASDAQ:QCOM) reports fourth quarter of 2026 results after the closing bell. Analysts expect $2.16 in earnings per share on $10.12 billion in revenue, down from $3 on $11.27 billion in the prior-year period.
Benzinga Pro data show options are pricing in an 8.33% move, a sizable setup for a $173 billion company — about $14.4 billion of market value at stake.
Qualcomm develops and licenses wireless technology and designs smartphone chips, with key patents tied to the standards underpinning 3G, 4G and 5G networks. The stock carries a Hold consensus rating, and shares trade below the 180-day average analyst price forecast. Recent analyst notes have been mixed: in November, Bernstein reiterated its Market Perform rating and cut its price forecast, while in October TD Cowen reiterated its Buy rating and raised its price forecast.
Qualcomm has pulled back in 2026, down 6.3% year-to-date, trading 2.8% below the 200-day moving average after the 50-day moving average crossed below the 200-day in September. The shares sit about 37% below the 52-week high of $259.92.
5. AMC Entertainment | Mkt Cap: $2.9B | Implied Move: 12.50%
AMC Entertainment Holdings, Inc. (NYSE:AMC) reports third quarter of 2026 results after the closing bell. Consensus calls for 4 cents in earnings per share on $1.54 billion in revenue, compared with a 21 cent per share loss on $1.30 billion a year ago.
According to Benzinga Pro, options are pricing in a 12.50% move. With a $2.87 billion market cap, that implies about $359 million of market value at stake.
AMC Entertainment operates movie theaters across the U.S. and Europe, so the quarter tends to hinge on attendance trends and the cadence of major releases. The stock carries a Hold consensus rating, and the stock is trading above the 180-day average analyst price forecast — a setup that can amplify the market’s reaction if results or outlook surprise either way.
Shares have rallied in 2026, up 98.1% year-to-date, trading 62.3% above the 200-day moving average since the 50-day moving average crossed above the 200-day in July. AMC Entertainment Holdings sits about 246% above the 52-week low of 93 cents.
4. Snap | Mkt Cap: $9B | Implied Move: 12.57%
Snap Inc. (NYSE:SNAP) reports third quarter of 2026 results after the closing bell. Wall Street is looking for 16 cents in earnings per share on $1.73 billion in revenue, versus a 6 cent per share loss on $1.51 billion in the year-ago quarter.
Benzinga Pro data show the options market is implying a 12.57% move, putting about $1.13 billion of market value at stake for the $9.01 billion company.
Snap is best known for Snapchat, and the earnings conversation often centers on advertising demand and product engagement. The stock carries a Hold consensus rating, and the share price sits well below the 180-day average analyst price forecast. In October, UBS reiterated its Neutral rating and raised its price forecast.
Snap has declined in 2026, down 33.0% year-to-date, trading 0.2% above the 200-day moving average since the 50-day moving average crossed above the 200-day in October. The shares sit about 40% below the 52-week high of $9.13.
3. Datadog | Mkt Cap: $78B | Implied Move: 14.38%
Datadog, Inc. (NASDAQ:DDOG) reports third quarter of 2026 results before the opening bell. The Street expects 65 cents in earnings per share on $1.15 billion in revenue, up from 55 cents on $885.65 million a year earlier.
According to Benzinga Pro, options are implying a 14.38% move. For Datadog’s $78.3 billion market cap, that’s roughly $11.3 billion of market value at stake.
Datadog sells cloud-native monitoring and analytics software that helps customers track everything from servers to applications. The stock carries a Buy consensus rating, and the 180-day average analyst price forecast sits well above where the stock trades. Recent analyst actions have leaned constructive: in November, Evercore ISI Group reiterated its Outperform rating and raised its price forecast, and in October Wells Fargo reiterated its Overweight rating and raised its price forecast.
Shares have rallied in 2026, up 61.5% year-to-date and trading 9.6% above the 200-day moving average. Datadog sits about 27% below the 52-week high of $300.68.
2. Applovin Corp. | Mkt Cap: $78B | Implied Move: 16.52%
Applovin Corp. (NASDAQ:APP) reports third quarter of 2026 results after the closing bell. Consensus estimates call for $4.04 in earnings per share on $2.08 billion in revenue, compared with $2.45 on $1.41 billion a year ago.
Benzinga Pro data show options are pricing in a 16.52% move, putting about $12.8 billion of market value at stake for Applovin’s $77.6 billion market cap.
Applovin operates a vertically integrated ad-tech platform that connects advertisers and publishers and facilitates transactions between the two. The stock carries a Buy consensus rating, and shares trade well below the 180-day average analyst price forecast. Still, expectations management has been a theme: in October, UBS, RBC Capital and Citigroup cut their price forecasts.
Applovin has pulled back in 2026, down 63.0% year-to-date and trading 44.0% below the 200-day moving average. The stock is within 3% of the 52-week low of $225.19.
1. Sunrun | Mkt Cap: $2B | Implied Move: 16.59%
Sunrun Inc. (NASDAQ:RUN) reports third quarter of 2026 results after the closing bell. Analysts are forecasting 14 cents in earnings per share on $774.00 million in revenue, compared with 6 cents on $724.56 million in the year-ago quarter.
According to Benzinga Pro, options traders are pricing in a 16.59% move — the widest implied swing on this Benzinga-selected list. With a $1.99 billion market cap, that suggests about $331 million of market value at stake.
Sunrun designs, installs, sells, owns and maintains residential solar energy systems in the U.S., acquiring customers directly and through solar and strategic partners. The stock carries a Buy consensus rating, and the stock is trading well below the 180-day average analyst price forecast. In October, JP Morgan, Morgan Stanley and Susquehanna cut their price forecasts, keeping the spotlight on demand, financing conditions and any update that reshapes expectations.
Sunrun has pulled back in 2026, down 57.6% year-to-date and trading 33.1% below the 200-day moving average. The shares sit about 62% below the 52-week high of $21.95.
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