Editorial companion

What stands out

Bloomberg highlights three distinct market moves that landed on very different fundamentals: Estée Lauder moved after reporting better-than-expected earnings and raising its outlook, a sign the beauty turnaround is getting traction; Alphabet is testing euro-bond demand after its disappointing quarterly results, which investors are treating as a capital-markets health check; and smaller names like EchoStar and Innovio jumped on news flows, EchoStar from a reported SpaceX tie and Innovio from accelerated FDA approval, showing how single headlines can drive big intraday swings.