Earnings are back in focus on Thursday, with a Benzinga-selected watchlist that runs from department-store retail to enterprise software — and options traders are already sketching out the size of the post-print swing, according to Benzinga Pro.
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.
4. Macy’s | Mkt Cap: $5.9B | Implied Move: 7.04%
Macy’s Inc. (NYSE:M) reports second quarter of 2026 results 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.
Benzinga Pro data show the options market is implying a 7.04% move, with $417 million of market value at stake. For a retailer with a relatively modest market cap, that’s still a meaningful one-day range being priced around the report.
Macy’s runs a large U.S. store fleet — about 430 Macy’s locations alongside Bloomingdale’s/Bloomie’s and Bluemercury — so investors will be listening for demand signals across discretionary categories. The stock carries a Hold consensus rating, and the stock is trading near the 180-day average analyst price forecast; in August, UBS reiterated its Sell rating and raised its price forecast, while Morgan Stanley moved its rating to Overweight in July.
Shares have been choppy in 2026, down 1.3% year-to-date, but they trade 4.1% above the 200-day moving average after the 50-day moving average crossed above the 200-day in June. The stock sits about 16% below the 52-week high of $26.59.
3. Adobe | Mkt Cap: $103B | Implied Move: 7.24%
Adobe Inc. (NASDAQ:ADBE) reports third quarter of 2026 results after the closing bell. Consensus calls 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.
Options are pricing in a 7.24% move, according to Benzinga Pro, which translates to about $7.42 billion of market value at stake given Adobe’s size. That implied range underscores how much investors still expect the tape to react to any shift in growth and guidance.
Adobe sells software and services spanning content creation, document management, and digital marketing/advertising workflows — categories where investors tend to key in on subscription momentum and product-cycle commentary. The stock carries a Hold consensus rating and the share price sits below the 180-day average analyst price forecast; in September, Barclays, RBC Capital, and Citigroup raised their price forecasts.
The stock has pulled back in 2026, down 22.8% year-to-date and trading 3.6% below the 200-day moving average. The shares sit about 30% below the 52-week high of $370.86.
2. Oracle | Mkt Cap: $468B | Implied Move: 10.06%
Oracle Corp (NYSE:ORCL) reports first quarter of 2027 results after the closing bell. The Street is modeling $1.67 in earnings per share on $19.13 billion in revenue, compared with $1.47 on $14.93 billion a year earlier.
Benzinga Pro shows options are implying a 10.06% move, putting roughly $47.1 billion of market value at stake. For a mega-cap software name, that’s a sizable earnings window being priced in.
Oracle sells enterprise applications and infrastructure across on-premises, cloud-based and hybrid deployment models, so the quarter can hinge on how customers are spending across those environments. The stock carries a Buy consensus rating, and the 180-day average analyst price forecast sits well above where the stock trades; in September, Guggenheim reiterated its Buy rating, while Morgan Stanley reiterated its Equal-Weight rating and raised its price forecast.
Oracle has pulled back in 2026, down 17.0% year-to-date and trading 3.6% below the 200-day moving average. The shares sit about 53% below the 52-week high of $345.72.
1. RH | Mkt Cap: $2.7B | Implied Move: 15.22%
RH (NYSE:RH) reports second quarter of 2026 results after the closing bell. Analysts expect $1.78 in earnings per share on $936.25 million in revenue, versus $2.93 on $899.15 million in the year-ago quarter.
According to Benzinga Pro, the options market is pricing in a 15.22% move — the widest implied swing on this Benzinga-selected list — with about $414 million of market value at stake. That’s a large percentage range for a single session, reflecting how sensitive the stock can be to any change in demand or outlook.
RH operates as a luxury furniture and lifestyle retailer in the domestic home-furnishings market, putting the spotlight on big-ticket discretionary spending trends. The stock carries a Hold consensus rating and shares trade below the 180-day average analyst price forecast; in August, Wells Fargo reiterated its Overweight rating and raised its price forecast, while JP Morgan reiterated its Overweight rating and cut its price forecast.
RH has pulled back in 2026, down 26.3% year-to-date, and it trades 11.5% 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 $253.05.
Photo: iQoncept / Shutterstock
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