There was plenty to digest last week during the second week of earnings season.
As always, there were a few surprises, both good and bad, as investors reacted to fresh results.
Here are some of the important headlines from last week.
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Banks the surprise winner
One of the biggest jumps this earnings season came from ANZ Group Holdings Ltd (ASX: ANZ).
ANZ reported its 2026 First Quarter Trading Update on Thursday February 12.
The update included a first-quarter cash profit of $1.94 billion and a statutory profit of $1.87 billion.
Cash profit jumped 75% compared to the second-half 2025 quarterly average, driven largely by lower expenses and stronger revenue.
This led to an 8% share price jump as investors reacted positively to the news.
It also prompted several brokers to re-rate ANZ shares.
It closed last week trading at $40.89, a 52 week high.
Its share price is now up almost 31% over the last 12 months, representing the biggest gain of the big four bank shares.
Commonwealth Bank of Australia (ASX: CBA) also surprised pundits with its 2026 Half Year Results last Wednesday.
Its share price climbed almost 7% higher on the back of earnings season results.
It reclaimed its title as Australia's largest company, and posted statutory net profit after tax of $5.41 billion.
Cash net profit came in at $5.45 billion, up 6% on the prior corresponding period.
Overall it rose more than 10% last week.
Healthcare woes continue
Whilst banks enjoyed a strong week, two of Australia's largest healthcare stocks crashed on the back of earnings results.
CSL Ltd (ASX: CSL) posted Half Year Results last Wednesday, which led to a 17% crash by week's end.
Things appear to be going from bad to worse for the ASX 200 company.
A CEO exit and poor results headlined a horror week.
The company posted an underlying NPATA of US$1.9 billion, which was down 7% on the prior corresponding period.
Its share price is now down 41% in the last 12 months.
It was a similar story for Pro Medicus Ltd (ASX: PME) shares.
Following its HY26 Results last Thursday, its share price retreated 22%.
For the six months ended 31 December, Pro Medicus reported a 28.4% increase in revenue to $124.8 million.
Pro Medicus' underlying EBIT margin increased to 73% from 72% the year prior.
It's share price is down 57% in the last 12 months which has attracted some buy-low attention from brokers.
Another big miss
Finally, another ASX large-cap company that had a week to forget was Nick Scali Ltd (ASX: NCK).
It released 1H FY26 results on Friday.
This sent investors running for the exit, as the share price fell 22% in a single day.
Many financial results looked solid, however investors may have been reacting negatively to UK business losses.
