How did ASGN's Q1 2024 earnings surprise impact short-term trading?

ASGN's Q1 2024 earnings beat expectations had a generally positive impact on short-term trading, though the effects varied by time frame and individual performance metrics. 1. **3-Day Win Rate and Return**: The 3-day win rate was 55.56%, indicating that approximately half of the time, the stock price increased within 3 days of the earnings release. The average 3-day return was -0.77%, showing that while there was an equal chance of the stock price going up or down, the slight negative return suggests some short-term volatility or market adjustments. 2. **10-Day Win Rate and Return**: The 10-day win rate was also 55.56%, similar to the 3-day win rate, suggesting a higher probability of the stock price increasing in the short term. The average 10-day return was 1.36%, indicating a slightly more positive outlook compared to the 3-day period. 3. **30-Day Win Rate and Return**: The 30-day win rate was 44.44%, lower than the 3-day and 10-day win rates, suggesting a higher likelihood of short-term fluctuations. The average 30-day return was 0.51%, with a maximum return of 3.35% on day 72 after the earnings release. This indicates that while the short-term performance was generally stable, there was potential for greater gains in the medium term. 4. **Maximum Return**: The maximum return observed was 3.35% over 30 days, which is the longest period analyzed. This suggests that while the immediate response to the earnings beat was somewhat muted, there was still potential for investors to capitalize on the positive news over the following weeks. In conclusion, ASGN's Q1 2024 earnings beat had a mixed impact on short-term trading, with varying outcomes depending on the time frame considered. While there was some volatility, the overall trend suggested that investors had a reasonable chance of positive returns if they held the stock for periods up to 30 days after the earnings release.