# Night movers — Oct 1: Accenture earnings beat powers night movers as banks and pharma slide

_AI-generated trading idea · NEUTRAL · ABT, ACN, AVGO, BA, C, CRM, IBM, IQ, JNJ, LRCX_

> Canonical page: https://commonquant.ai/research/for-you/night-movers-oct-1-accenture-earnings-beat-powers-night-move--7fd959e8-24d8-5f78-9968-7655cf246fdd

\#\# Session overview Overnight gainers were led by ACN up 15.78%, LRCX up 3.53%, BA up 3.35%, CRM up 3.10%, and IBM up 2.59%. Decliners were led by JNJ down 2.30%, ABT down 2.17%, AVGO down 2.15%, C down 1.92%, and IQ down 1.70%. \#\# Compared with previous session In the prior night edition, ACN gained 3.53%, CRM rose 1.89%, and LRCX added 1.44%, while ABT fell 2.10%. Tonight, ACN accelerated to a 15.78% gain, CRM and LRCX posted larger advances, and ABT declined again alongside new losers JNJ, AVGO, C, and IQ. \#\# Gainers - \*\*ACN +15.78%\*\* — Accenture surged after fiscal fourth-quarter results beat estimates, heading for its best day ever. Its forecast also eased AI disruption fears and lifted battered IT services stocks. - \*\*LRCX +3.53%\*\* — No matching ingested catalyst was found for LRCX.

## Idea

\#\# Session overview Overnight gainers were led by ACN up 15.78%, LRCX up 3.53%, BA up 3.35%, CRM up 3.10%, and IBM up 2.59%. Decliners were led by JNJ down 2.30%, ABT down 2.17%, AVGO down 2.15%, C down 1.92%, and IQ down 1.70%. \#\# Compared with previous session In the prior night edition, ACN gained 3.53%, CRM rose 1.89%, and LRCX added 1.44%, while ABT fell 2.10%. Tonight, ACN accelerated to a 15.78% gain, CRM and LRCX posted larger advances, and ABT declined again alongside new losers JNJ, AVGO, C, and IQ. \#\# Gainers - \*\*ACN +15.78%\*\* — Accenture surged after fiscal fourth-quarter results beat estimates, heading for its best day ever. Its forecast also eased AI disruption fears and lifted battered IT services stocks. - \*\*LRCX +3.53%\*\* — No matching ingested catalyst was found for LRCX.

## Advanced Analysis

### Verdict: credible catalyst, unconfirmed entry — wait

The strongest case for this idea is that its anchor catalyst is real: Accenture's fiscal Q3 revenue rose 3.7% quarter over quarter to $18.7B, net income jumped 28.2%, and net margin expanded about 2.4 points to 12.5%, which per the CNBC piece on October 1 drove the stock toward its best day ever at +15.78%. The strongest case against is execution, not direction: despite the pop, Accenture's RSI on the computed timeframe sits at 25.6, roughly 19 points below the 45 threshold, so the rule set is nowhere near an entry while provisional ownership filings for the period ending September 30, 2026 show net open-market selling across Broadcom (about $513.6M), Lam Research, Abbott, JNJ, IBM, and Accenture itself. The completed nine-month evaluation backs the setup as tradeable — 14 trades, a 6.3% total return, a 35.7% win rate, and a 13.2% maximum drawdown — but it also confirms a low-hit-rate profile where most signals lose. The verdict: the thesis is credible, the trade is not yet live, and the honest action is to wait for the three conditions to line up on a daily close. The single fact that would flip this is finalization of the provisional September 30, 2026 filings showing the selling was token or reversed, combined with a confirmed upward cross of Accenture's 20-period average with RSI and trend strength in range.

#### Conviction score breakdown

Composite score computed by the server from the applicable evidence-tier dimensions.

| Measure | Value |
| --- | ---: |
| Thesis support | 75/100 |
| Trade readiness | 25/100 |
| Risk quality | 50/100 |
| Backtest evidence | 45/100 |
| Fundamentals trend | 70/100 |
| Score | 53/100 |
| Composite Score | 53/100 |
| Evidence Tier | backtested |

#### Decision scenarios

Bull, base, and bear cases synthesized from the cited evidence tier. Likelihoods are rounded evidence-weighted judgments, not statistically calibrated forecasts.

| Measure | Value |
| --- | ---: |
| Evidence Tier | backtested |

### Trade now: conditions armed, not triggered — here are the exact live levels

\*\*Nothing is actionable yet.\*\* The strategy waits for, on each of ACN, LRCX, AVGO, BA, and C, three things: a close crossing above the 20-period exponential moving average, the 14-day RSI at or above 45, and the 14-day ADX at or above 20. As of the latest computed market state, no ticker has all three live, so the correct move today is to place no trade and let the conditions come to you.

The closest setups are on LRCX and BA. LRCX closed at $339.85, already above its 20-period moving average of $329.61, with RSI at 78.4 and ADX at 43.7 — the momentum conditions are met, but the entry requires a fresh upward cross of the moving average, which needs a pullback-and-reclaim first. BA sits at $192.35 versus its moving average of $189.12 with RSI at 71.1 and ADX at 28.6 — same story. ACN (close $176.07 vs. average $179.55, RSI 25.6, ADX 26.2) is furthest away: even after the 15.78% earnings surge per the idea's session summary, its RSI sits 19.4 points below the 45 threshold.

Risk framing is fixed by the strategy itself: each position carries a 2.4% stop loss and a 4.8% profit target — a 2:1 reward-to-risk ratio — with exits also set at the first resistance level or after 60 bars, whichever comes first. Positions are capped at 20% of the book each, sized off a 2.4% risk budget per trade. In the completed nine-month evaluation on ACN, the setup produced 14 trades, a 6.3% total return, a 35.7% win rate, and a 13.2% maximum drawdown — consistent with a low-hit-rate, payoff-driven profile that only works if you take every qualified signal and never average into a losing one.

One scope note: no robust nearby parameter setup was established, so the published thresholds are the ones to trade — do not tune them yourself. "Wait" means: leave standing logic in place, check the three conditions at each daily close, and act only on the day all three are true simultaneously.

#### ABT price and trigger map

Uses the idea timeframe and keeps price levels on the price axis.

| Measure | Value |
| --- | ---: |
| Ticker | ABT |
| Timeframe | 1h |

#### ACN price and trigger map

Uses the idea timeframe and keeps price levels on the price axis.

| Measure | Value |
| --- | ---: |
| Ticker | ACN |
| Timeframe | 1h |

#### AVGO price and trigger map

Uses the idea timeframe and keeps price levels on the price axis.

| Measure | Value |
| --- | ---: |
| Ticker | AVGO |
| Timeframe | 1h |

### Accenture's earnings surge and improving margins give the momentum case real fuel

The session's thesis rests on Accenture, and the fundamentals behind the 15.78% overnight move are not thin. In fiscal Q3 (quarter ended May 31, 2026), Accenture's revenue rose 3.7% quarter over quarter to $18.7B, net income jumped 28.2% to $2.3B, and net margin expanded about 2.4 points to 12.5%. Operating margin improved 3.1 points to 17.0% and gross margin ticked up to 32.8% — signs the post-earnings beat reflected genuine operating improvement, not just a guidance headline. Per the CNBC piece on October 1, the results sent the stock toward its best day ever, and per the Reuters report the same day, Accenture's forecast eased AI disruption fears and lifted battered IT services stocks — a narrative shift that can outlive one session.

That fundamental tailwind coexists with a rules-based setup that has a completed trade record. The backtested result over the most recent nine-month window produced 14 trades with a 6.3% total return, so the strategy has actually fired on these symbols. The rule set is thesis-consistent: it goes long when price crosses above its 20-day average with momentum and trend strength confirming, a reasonable way to ride exactly the kind of post-earnings re-rating Accenture just delivered.

The rest of the gainers' list adds breadth. Lam Research's fiscal Q4 (ended June 28, 2026) showed revenue up 15.1% sequentially to $6.7B with a 37.4% operating margin, and its quarterly dividend was raised again — $0.33 versus $0.26 earlier in the year. Boeing added 3.35% on news, per CNBC on October 1, that engineers and technical workers approved a new contract, removing strike risk. Salesforce posted a 31.1% net margin in its July quarter with net income up 67% sequentially, and IBM's June quarter delivered net income up 78% quarter over quarter.

Note the measurement caveat: the completed backtest evaluated a nine-month daily-bar window for the ACN pair, while the longer 60-, 24-, and 12-month windows could not complete because daily market-data coverage for the Boeing dependency was incomplete. The supplied nine-month result is the evidence read; longer-horizon durability remains an open question rather than an assumption.

The unresolved question for a buyer here is execution, not direction: whether the overnight momentum in Accenture translates into entries on the rule's trend conditions before the one-session pop mean-reverts.

#### IQ Gross margin

Gross margin trend from CommonQuant fundamentals/XBRL data; +1288.4% from first to latest point.

| Measure | Value |
| --- | ---: |
| 2016-12-31 | \-0.017725441465277533% |
| 2017-12-31 | \-0.000472599527573101% |
| 2018-12-31 | \-0.08578528750458107% |
| 2019-12-31 | \-0.04672366026857299% |
| 2020-12-31 | \0.06135963785162196% |
| 2021-12-31 | \0.09952290524115966% |
| 2022-12-31 | \0.2303034382597225% |
| 2023-12-31 | \0.27516250780489665% |
| 2024-12-31 | \0.24881432604341683% |
| 2025-12-31 | \0.2106514009620243% |
| Latest Value | \0.2106514009620243% |
| Change Pct | \1288.4127195064257% |
| Ticker | IQ |
| Timeframe | reported periods |

#### AVGO Operating margin

Operating margin trend from CommonQuant fundamentals/XBRL data; +410.4% from first to latest point.

| Measure | Value |
| --- | ---: |
| 2016-10-30 | \-0.030891238670694866% |
| 2017-01-29 | \0.12225175163082871% |
| 2017-04-30 | \0.11312649164677804% |
| 2017-07-30 | \0.14519381581895585% |
| 2017-10-29 | \0.13444091630755273% |
| 2017-10-29 | \0.1558629232039637% |
| 2018-02-04 | \0.1770227144734372% |
| 2018-05-06 | \0.2395293179098524% |
| 2018-08-05 | \0.26446770689314636% |
| 2018-11-04 | \0.24630660015349196% |
| 2018-11-04 | \0.3034533431300514% |
| 2019-02-03 | \0.0958714803938504% |
| Latest Value | \0.0958714803938504% |
| Change Pct | \410.35168714292894% |
| Ticker | AVGO |
| Timeframe | reported periods |

#### ABT sector percentile check

Ranks ABT against 1022 companies in its sector using CommonQuant fundamentals.

| Measure | Value |
| --- | ---: |
| Free cash flow | \99.51076320939336th percentile |
| Operating margin | \90.31903190319032th percentile |
| Rnd Intensity | \16.486486486486488th percentile |
| Revenue growth (YoY) | \40.80962800875273th percentile |
| Ticker | ABT |
| Sector | Health Care |
| Peer Count | 1022 |

### A 13% drawdown, insider selling, and one hot quarter cut against paying up for momentum

Start with the strategy's own track record: 14 completed trades in the nine-month backtest won only 35.7% of the time, and the equity curve's worst stretch was a 13.2% drawdown. That is the concrete cost of riding these signals — you will be wrong roughly two times in three, and the losing stretches have historically taken more than a tenth off the book before recovering. The stop-loss is set at 2.4% per position, but in a fast post-earnings move like Accenture's 15.78% session, gaps through a stop can fill worse than the level; the supplied exit fills are approximate rather than intrabar-verified.

Ownership posture is a real headwind. Insider filings for the period ending September 30, 2026 show net open-market selling across nearly every name in this basket: roughly $513.6M net selling at Broadcom, $58.3M at Lam Research, $46.7M at Abbott, $46.7M at JNJ, and net selling also at Accenture, Salesforce, and IBM. Insiders selling into the same rally the strategy wants to buy is a plain-language warning that those closest to the numbers see more reason to distribute than accumulate.

The fundamental picture is mixed, not uniformly strong. Accenture's improved Q3 margins follow a fiscal Q4 2025 (ended August 31, 2025) in which diluted EPS fell 15.4% year over year and net margin was just 8.0% — the current quarter is a rebound, and one quarter of margin expansion is not yet a trend. Broadcom, the group's AI flagship, carries 44.2% net margins and 33% sequential revenue growth, but its agreement to lend Anthropic up to $42B for chip leases, per the CNBC filing report on October 1, adds concentration and counterparty risk to a growth story already priced richly. Meanwhile, per the Bloomberg piece on October 1, bank stocks sank further into correction as Citigroup tumbled, and Citi's Q4 revenue actually fell 10.1% sequentially — this is not a market where every large-cap leg is healthy.

Dividend support is thin where it matters most: iQIYI pays nothing and swung to a fiscal 2025 net loss of $29.5M on revenue down 2.5% year over year, with free cash flow collapsing from $278M to roughly $1M. Boeing also remains unprofitable in its latest quarter with a negative net margin. And the parameter-sensitivity evaluation timed out without establishing a robust nearby setup, so there is no validated reason to prefer the current thresholds over alternatives — you are trading the published configuration as-is. In a bad month, this book has historically swung double digits; sizing accordingly is not optional.

#### Backtested stress-test read

Shows the backtested sample behind the bear-case risk discussion.

| Measure | Value |
| --- | ---: |
| Return | \6.320241760375156% |
| Win rate | \35.714285714285715% |
| Max drawdown | \13.210286282498108% |
| Trades | 14 count |
| Timeframe | 9 months |

#### AVGO Debt to equity

Debt to equity trend from CommonQuant fundamentals/XBRL data; +241.7% from first to latest point.

| Measure | Value |
| --- | ---: |
| 2018-05-06 | \0.552811301337824 ratio |
| 2018-08-05 | \0.6457453008888241 ratio |
| 2018-11-04 | \0.6605769591476911 ratio |
| 2019-02-03 | \1.6301670685497762 ratio |
| 2019-05-05 | \1.7075139815984124 ratio |
| 2019-08-04 | \1.7606380505045809 ratio |
| 2019-11-03 | \1.3254881520388115 ratio |
| 2020-02-02 | \1.847586999343401 ratio |
| 2020-05-03 | \1.9286609305822404 ratio |
| 2020-08-02 | \1.8889502058836016 ratio |
| Latest Value | \1.8889502058836016 ratio |
| Change Pct | \241.6989126872536 ratio |
| Ticker | AVGO |
| Timeframe | reported periods |

### Company context

\#\#\# ABT \*\*Ownership and insiders.\*\* For the period ending 2026-09-30, 2 reporting holders were counted holding 116550 reported shares. Insider filings indicate net open-market selling, netting US$-46676621.46. Coverage: Provisional. \*\*Management.\*\* Mr. Robert B. Ford is identified as chief executive. Mr. Robert B. Ford is listed as Executive Chairman & CEO, with reported total pay of US$4.4M for fiscal 2022. Source: \[Yahoo Finance quoteSummary\](https://finance.yahoo.com/quote/ABT/profile), retrieved 2026-10-02T04:08:46.54+00:00. \*\*Dividends.\*\* Trailing twelve-month distributions total USD 2.48 per share; the latest observed ex-date was 2026-07-15 at USD 0.63 per share. The latest annual comparison is +6.9%. Source: \[Yahoo Finance corporate actions\](https://finance.yahoo.com/quote/ABT/history?filter=div), retrieved 2026-10-02T04:08:46.54+00:00. \*\*Fundamental changes.\*\* Latest reported comparisons: - Free cash flow: USD 916.0M for Q1 ending 2026-03-31 versus USD 2.6B for Q4 ending 2025-12-31 (-65.1%) · quarter over quarter - Gross margin: 56.1% for Q1 ending 2026-03-31 versus 57.0% for Q4 ending 2025-12-31 (-0.8 percentage points) · quarter over quarter - Net Income: USD 1.1B for Q1 ending 2026-03-31 versus USD 1.8B for Q4 ending 2025-12-31 (-39.4%) · quarter over quarter - Net margin: 9.6% for Q1 ending 2026-03-31 versus 15.4% for Q4 ending 2025-12-31 (-5.8 percentage points) · quarter over quarter - Operating Cash Flow: USD 1.3B for Q1 ending 2026-03-31 versus USD 3.3B for Q4 ending 2025-12-31 (-60.3%) · quarter over quarter - Operating margin: 12.0% for Q1 ending 2026-03-31 versus 19.6% for Q4 ending 2025-12-31 (-7.6 percentage points) · quarter over quarter - Revenue: USD 11.2B for Q1 ending 2026-03-31 versus USD 11.5B for Q4 ending 2025-12-31 (-2.6%) · quarter over quarter Source: Reported company financial data. Comparisons use consecutive reported periods at the same cadence and compatible units. Relative percentage changes require a positive baseline; rate changes are expressed in percentage points. \*\*Unavailable comparisons.\*\* - Debt to equity: The latest period's value is unavailable. - Return on equity: The previous period's value is unavailable. - Shares Outstanding: The previous period's value is unavailable. \#\#\# ACN \*\*Ownership and insiders.\*\* For the period ending 2026-09-30, 2 reporting holders were counted holding 7972 reported shares. Insider filings indicate net open-market selling, netting US$-1722885.19. Coverage: Provisional. \*\*Management.\*\* Ms. Julie T. Spellman Sweet J.D. is identified as chief executive. Ms. Julie T. Spellman Sweet J.D. is listed as CEO & Chairman, with reported total pay of US$6.8M for fiscal 2025. Source: \[Yahoo Finance quoteSummary\](https://finance.yahoo.com/quote/ACN/profile), retrieved 2026-10-02T04:08:46.54+00:00. \*\*Dividends.\*\* Trailing twelve-month distributions total USD 3.26 per share; the latest observed ex-date was 2026-07-09 at USD 1.63 per share. The latest annual comparison is -44.9%. Source: \[Yahoo Finance corporate actions\](https://finance.yahoo.com/quote/ACN/history?filter=div), retrieved 2026-10-02T04:08:46.54+00:00. \*\*Fundamental changes.\*\* Latest reported comparisons: - Free cash flow: USD 3.6B for Q3 ending 2026-05-31 versus USD 3.7B for Q2 ending 2026-02-28 (-1.9%) · quarter over quarter - Gross margin: 32.7%…

### Scores

- **Conviction score breakdown:** 53
- **Thesis support:** 75
- **Trade readiness:** 25
- **Risk quality:** 50
- **Backtest evidence:** 45
- **Fundamentals trend:** 70

### Watch items

- **ACN — RSI (14)**
- **ACN — Close vs EMA (20)**
- **LRCX — Close vs EMA (20) — fresh upward cross**
- **BA — Close vs EMA (20) — fresh upward cross**
- **AVGO — ADX (14)**
- **AVGO — Insider net open-market activity**
- **C — RSI (14)**

## Key details

- Symbols: ABT, ACN, AVGO, BA, C, CRM, IBM, IQ, JNJ, LRCX
- Timeframes: 1h
- Tags: \#canonical-demand, \#cluster-version:1, \#direction:neutral, \#entity-kind:instrument, \#entity:ABT, \#entity:ACN, \#entity:AVGO, \#entity:BA, \#entity:C, \#entity:CRM, \#entity:IBM, \#entity:IQ, \#entity:JNJ, \#entity:LRCX, \#horizon:short\_term, \#intent:research, \#symbol:ABT, \#symbol:ACN, \#symbol:AVGO, \#symbol:BA, \#symbol:C, \#symbol:CRM, \#symbol:IBM, \#symbol:IQ, \#symbol:JNJ, \#symbol:LRCX

## Community

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- Copies: 1
- Cosigns: 0

## News sources

- [Accenture rallies more than 20% after earnings beat, heads for best day ever](https://www.cnbc.com/2026/10/01/accenture-rallies-more-than-20percent-after-earnings-beat-heads-for-best-day-ever.html) — CNBC Top News
- [Accenture's forecast eases AI disruption fears, lifts battered IT services stocks - Reuters](https://news.google.com/rss/articles/CBMipAFBVV95cUxNT0x6VDZBVTl0dW1JZjJlQk9XRTBwU2pGVVkzckl0Z2I0WmJxX0c4MkExeUpyamw5VVRERkl2V2tCSm4yQ3Y5SlhWbGhISWVNN3N2RTY0QTNtRk5wdkI0UEFMSjE1cGJLYjNYMTdLSTIyMk5vZlE3R181TmlPYkFoLWNaR1p5dG1SQnFqWF8xSDA1N1JhQlkxT0dLeXcwYnJ4LWpMQw?oc=5) — Reuters
- [Boeing engineers and technical workers approve new contract, avoiding strike](https://www.cnbc.com/2026/10/01/boeing-contract-engineers-technical-workers.html) — CNBC Top News
- [The 2 most important skills for entry-level workers in the age of AI, says IBM's chief talent officer](https://www.cnbc.com/2026/10/01/ibm-talent-officer-top-skills-entry-level-workers-ai.html) — CNBC Top News
- [Trump Medicare drug pricing model may apply to only four companies after exemptions - Reuters](https://news.google.com/rss/articles/CBMizgFBVV95cUxNS2hZSTRXTzNRa3lsLUtBT0xONmdZemFlVWNITElyLUtYdHY2RnJMYTNKNU5CMVc2b1FWZjJGWDIwMmM5Y1RpdU92NWxhUTdOLS1KQS1iY2Z2cFUwSlFnRGdzcFUxdHdQSVJkbWVpQzRzWldudWVWTjB3MWVONkVUbUJBR1pKZlY3OUNlbWl4M09iSUpjakFpN1dQS3F3Q1JrQ1BSWjVaaE1vU2hvcmtCcVFNVTh1aHZ6S1JBT0d3dHpFYlpVQjZzaXVpYmRFUQ?oc=5) — Reuters
- [Broadcom to lend Anthropic up to $42 billion to lease its chips, filing says](https://www.cnbc.com/2026/10/01/broadcom-lending-anthropic-42-billion-chips-reuters.html) — CNBC Top News
- [Bank Stocks Sink Further Into Correction as Citigroup Tumbles](https://www.bloomberg.com/news/articles/2026-10-01/bank-stocks-sink-further-into-correction-as-citigroup-tumbles-mupql1a7) — Bloomberg Markets

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- [Latest market news](https://commonquant.ai/news)

## About CommonQuant Research

Ideas and Advanced Analysis are generated with fresh, LLM-selected news headlines and grounded in SEC XBRL fundamentals and peer percentiles. Strategies built from these ideas are automatically backtested (over a timeframe-dependent historical window with walk-forward tuning) and stress-tested before they can go live, then monitored against the news hourly while they run.