As the Q4 2025 earnings season ramps up in January 2026, with about 13% of S&P 500 companies having reported results, the focus has sharpened on mixed performances and forward-looking guidance. Overall expectations call for an 8.2% year-over-year EPS growth for the index (slightly below initial 8.3% forecasts but marking a potential 10th straight quarter of expansion if sustained), driven heavily by the tech sector.

Intel (INTC) stole the spotlight for the wrong reasons, with its shares plunging around 17% to close near $45 after reporting Q4 results that beat lowered expectations—adjusted EPS of $0.15 (versus $0.09 estimated) and revenue of $13.7 billion (versus $13.4 billion expected, down 4% year-over-year).

However, the company’s Q1 2026 outlook disappointed significantly, projecting revenue around a $12.2 billion midpoint (below $12.6 billion consensus) and EPS near $0 (versus $0.08 expected). New CEO Lip-Bu Tan emphasized growing AI demand for CPUs and the company’s execution priorities, but investors reacted negatively to ongoing supply constraints, foundry challenges, and a lackluster near-term picture, dashing hopes for a smooth turnaround.

Looking ahead, attention shifts to several Magnificent Seven members reporting in the coming week: Microsoft (MSFT), Meta (META), Tesla (TSLA), and Apple (AAPL). Analysts project robust 20.3% aggregate earnings growth for these tech giants compared to just 4.1% for the rest of the S&P 500. Key themes include surging AI investments, potential memory chip shortages, PC refresh cycles tied to Windows 10’s end-of-support, Tesla’s EV production dynamics, Apple’s iPhone momentum, and lingering uncertainties from potential Trump administration tariffs (though some easing has been noted recently).

Other notable earnings highlights from the period include:

• Capital One (COF) announced a $5.15 billion acquisition of fintech Brex (split 50/50 cash and stock) while posting Q4 EPS of $3.26 (beat $3.23 estimate) and revenue of $15.6 billion (beat $15.4 billion, up 1% YoY). Shares slid in extended trading despite the solid results and CEO comments on strong growth opportunities.
• Alaska Air (ALK) delivered adjusted EPS of $0.43 (well above $0.11 expected) with revenue in line at $3.6 billion; premium seat demand rose 7.1% YoY, sending shares up over 6%.
• Booz Allen Hamilton (BAH) reported Q3 revenue down 10% to $2.6 billion (missed estimates) but beat on adjusted EPS at $1.77; the company raised full-year guidance amid signs of civil business recovery, with shares gaining 6% premarket.
• Alcoa (AA) beat with Q4 adjusted EPS of $1.26 and revenue up 15% to $3.4 billion; shares rose modestly, up 18% year-to-date.
• Procter & Gamble (PG) edged past EPS expectations at $1.88 but lowered its full-year EPS growth outlook to 1%-6% (from 3%-9%), citing cautious consumer behavior in a K-shaped economy; shares weakened.
• GE Aerospace (GE) posted strong Q4 results with revenue up 18% to $12.7 billion and EPS of $1.57, both beats.
• McCormick (MKC), Abbott (ABT), Mobileye, and others faced softer reactions due to misses or cautious outlooks tied to consumer trends, tariffs, or sector headwinds.

Broader market sentiment remains influenced by AI enthusiasm, policy shifts, and uneven consumer spending patterns. Upcoming reports from the Big Tech cohort will likely test the rally’s breadth and provide fresh insights into growth drivers amid these crosscurrents.

Rewritten and summarized based on the original Yahoo Finance live article, published January 23, 2026.