Tesla earnings could move $83 billion in market value

Earnings are set to hit the tape on Wednesday, and options markets are already sketching out the size of the post-print swing investors may have to stomach. Implied moves can be a quick read on how much uncertainty traders see around results and guidance, according to Benzinga Pro.

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

5. International Business Machines Corp. | Mkt Cap: $198B | Implied Move: 5.44%

International Business Machines Corp. IBM reports second quarter of 2026 results after the closing bell.

Wall Street is looking for $3.02 in earnings per share on $17.86 billion in revenue, compared with $2.80 on $16.98 billion a year ago.

Benzinga Pro data show options are pricing in a 5.44% move, the smallest implied swing in this five-stock watchlist — but it still represents $10.8 billion of market value at stake.

International Business Machines sells software, IT consulting services and hardware aimed at helping enterprises modernize their technology workflows. The stock carries a Buy consensus rating, and the stock is trading well below the 180-day average analyst price forecast; in July, Stifel and Citigroup reiterated Buy ratings while cutting their price forecasts.

International Business Machines has slid in 2026, down 26.9% year-to-date and trading 23.0% below the 200-day moving average. The shares are within 3.1% of the 52-week low of $204.44 heading into the print.

4. Tesla, Inc. | Mkt Cap: $1.4T | Implied Move: 5.91%

Tesla, Inc. TSLA reports second quarter of 2026 results after the closing bell.

Consensus estimates call for 44 cents in earnings per share on $25.24 billion in revenue, versus 40 cents on $22.50 billion in the prior-year quarter.

According to Benzinga Pro, the options market is implying a 5.91% move. With Tesla sitting at a $1.4 trillion market cap, that’s about $83 billion of market value in play around the report.

Tesla is a vertically integrated EV automaker that also develops real-world AI software tied to autonomous driving and humanoid robots, keeping the focus on both vehicle demand and the longer-dated software narrative. The stock carries a Buy consensus rating, and the share price sits below the 180-day average analyst price forecast; in July, Morgan Stanley and Barclays reiterated Equal-Weight ratings while raising their price forecasts.

Tesla has pulled back in 2026, down 15.6% year-to-date and trading 10.3% below the 200-day moving average after the 50-day moving average crossed below the 200-day in April. The shares sit about 25% below the 52-week high of $498.83.

3. GE Vernova Inc. | Mkt Cap: $297B | Implied Move: 8.16%

GE Vernova Inc. GEV reports second quarter of 2026 results before the opening bell.

The Street is modeling $3.22 in earnings per share on $10.75 billion in revenue, up from $1.86 on $9.11 billion a year earlier.

Options traders are pricing in an 8.16% move, according to Benzinga Pro, putting about $24.3 billion of market value at stake for the power-and-electrification name.

GE Vernova sells products and services that generate, transfer, convert and store electricity across power, wind and electrification. It has a Buy consensus rating, and the 180-day average analyst price forecast is above where the stock trades; in June, Bernstein initiated coverage with an Outperform rating.

GE Vernova has been one of the stronger tapes in this group, up 58.8% year-to-date and trading 34.9% above the 200-day moving average. The shares sit about 109% above the 52-week low of $530.16.

2. Texas Instruments Inc. | Mkt Cap: $267B | Implied Move: 9.29%

Texas Instruments Inc. TXN reports second quarter of 2026 results after the closing bell.

Analysts expect $1.92 in earnings per share on $5.23 billion in revenue, compared with $1.41 on $4.45 billion in the year-ago quarter.

Benzinga Pro shows the options market implying a 9.29% move, a sizable setup for a mega-cap semiconductor name — roughly $24.8 billion of market value at stake.

Texas Instruments generates the bulk of its revenue from semiconductors and is the world’s largest maker of analog chips used to process real-world signals like sound and power. The stock carries a Buy consensus rating, and shares trade below the 180-day average analyst price forecast; in July, Keybanc reiterated an Overweight rating and raised its price forecast.

Texas Instruments has rallied in 2026, up 60.0% year-to-date and trading 32.0% above the 200-day moving average. The shares sit about 92% above the 52-week low of $152.73.

1. Servicenow, Inc. | Mkt Cap: $106B | Implied Move: 10.50%

Servicenow, Inc. NOW reports second quarter of 2026 results after the closing bell.

Consensus calls for 76 cents in earnings per share on $3.93 billion in revenue, versus 82 cents on $3.21 billion in the prior-year period.

According to Benzinga Pro, options are pricing in a 10.50% move — the widest implied swing on this Benzinga-selected list — with about $11.1 billion of market value at stake.

Servicenow sells SaaS software designed to structure and automate business processes, with a core focus on IT workflows for enterprise customers. The stock carries a Buy consensus rating and the stock is trading well below the 180-day average analyst price forecast; in July, DA Davidson reiterated a Buy rating and cut its price forecast, while Cantor Fitzgerald reiterated an Overweight rating and raised its price forecast.

Servicenow has pulled back in 2026, down 29.0% year-to-date and trading 20.0% below the 200-day moving average. The shares sit about 51% below the 52-week high of $210.20.

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