Earnings read by Jev

1. Find. Each Saturday, Python takes the Research Shortlist and each company’s latest quarterly earnings release on or before Friday. The release is checked by its content: an 8-K cover, an interim update or a personnel announcement is not taken as the earnings release.
2. Quote. Python copies, word for word, the guidance passage (or the results when there is no guidance), the same company’s previous guidance passage, and the sentences that state a change. Passages are shortened; open the filing for the original.
3. Read. Jev, an AI model from TypeSafe, answers from those passages what the release says about guidance against the company’s previous guidance: raised, maintained, lowered, withheld (an explicit withholding or withdrawal), given without a comparable earlier outlook, or none or unclear. The answer carries Jev’s own confidence. Below 0.50 it is marked “AI unsure”; the number is not a probability of being right. Jev also answers a question on operations; that answer is kept in the record but not shown, because it found no return edge in the 2023–25 test and on the Shortlist mostly repeats why a company is listed.
4. Check. Python arithmetic, no AI: diluted shares up at most 10% in a year, a positive operating or free-cash-flow margin, and less than a 60% fall from the 1-year high. A missing number is marked “?” and does not pass. The checks never remove a company.

“Raised” means raised against the company’s own previous guidance, not against what analysts expected. A raise below expectations can still send the price down. When the two guidance passages cover different periods, a raise counts only if the release states it in a sentence.

The reaction is the stock’s return minus QQQ’s, in percentage points, over the 3 sessions around the first session after the filing (close before the window to its last close); the later figure covers the 21 sessions after that. Both are realized moves, not a forecast. Open a company to see the stock’s own move, QQQ’s move and the shares traded in the window against the 20 sessions before it. QQQ is technology-heavy, so outside technology a large QQQ move can make up much of the difference. Next results dates come from Yahoo’s calendar and can move.

The CSV holds the rows shown, one line per company, with the snapshot date, the read and its confidence, the checks, the reaction and its parts, the next results date and the filing link. Returns are fractions (0.05 = 5%).