Just like the NY Athletic Club, earnings results and the stock run that follows almost always never matches. Isn't that why I always suggest you to stay away from Las Vegas unless your pocket is itchy? If you had an extended run on the same ticker for sometime, that's a different thing and rightly so, you could just hang there with buying some put protection.
I present 2 results on a single day and the way their stocks reacted. IBM delivered a very good quarter yet again but for stocks that have run for a long time before the results, very good simply doesn't translate into after run.
Goldman Sachs on the other hand delivered 2nd loss only in 12 years being on the public stock exchanges. GS was up 5%.