How GoPro, Suncor, and 3 Other Companies Performed During Their Latest Quarters

Crude futures are below $42 per barrel this morning as traders brace for the upcoming rig count release on Friday. That news affects some of the companies that have just released earnings, which include Suncor Energy Inc. (USA) (NYSE:SU), Yandex NV (NASDAQ:YNDX), GoPro Inc (NASDAQ:GPRO), Thermo Fisher Scientific Inc. (NYSE:TMO), and AstraZeneca plc (ADR) (NYSE:AZN). Let’s take a closer look at the results of those five companies and see how the smart money has been trading those equities.

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Forest Fires Hurt Suncor 

Suncor Energy Inc. (USA) (NYSE:SU) reported an operating loss of CAD$0.36 ($0.27) per share and cash flow from operations of CAD$916 million ($696 million) for its second quarter, missing bottom-line estimates by CAD$0.15 ($0.11) per share. The losses stemmed largely from the forest fires that ravaged the Fort McMurray region for several months, which played a big part in Suncor’s total upstream production dropping to 330,700 BOE per day from 559,900 BOE per day in the second quarter of 2015. On a positive note, management reaffirmed their commitment to cutting capex and the company declared a CAD$0.29 ($0.22) dividend, which is unchanged from the quarter prior. Warren Buffett‘s Berkshire Hathaway owned 30.00 million shares of Suncor Energy Inc. (USA) (NYSE:SU) at the end of the first quarter.

Yandex Shares 3% Higher After Report

Yandex NV (NASDAQ:YNDX) is in the spotlight today after the Russian search engine reported second quarter earnings of $0.10 per share on sales of $280.7 million. Yandex’s adjusted net income rose by 40% year-over-year and its revenue jumped by 30%. The company’s share of the Russian search market averaged 57% in the second quarter, down slightly from 57.6% in the first quarter. In terms of guidance, management expects 2016 revenue to grow by 19%-to-22% year-over-year. 27 funds that we track were long Yandex NV (NASDAQ:YNDX) as of March 31.

On the next page we’ll examine how GoPro, Thermo Fisher, and AstraZeneca performed during their latest quarters.

GoPro Revenue Declines

Traders are bidding up GoPro Inc (NASDAQ:GPRO) this morning to the tune of 5% despite the company reporting a second quarter loss of $0.52 per share on sales of $220.76 million. Although revenue fell by 47.4% year-over-year, the top-line number was still 20% higher than the first quarter figure, and management maintained its full year sales guidance of $1.35 billion-to-$1.50 billion. The company’s average unit selling price also rose by 14% year-over-year. Given the low expectations and GoPro’s beaten-up stock, it’s not surprising that GoPro shares are higher this morning on only mildly positive results. The number of funds in our system with holdings in GoPro Inc (NASDAQ:GPRO) fell by two quarter-over-quarter to 16 as of the end of March.

Thermo Fisher Results Ahead of Estimates

Thermo Fisher Scientific Inc. (NYSE:TMO) earned $2.03 per share on sales of $4.54 billion for its second quarter, beating both the top- and bottom-line estimates of $2.01 per share and $4.50 billion, respectively. Sales rose by 6.3% year-over-year as demand was strong in emerging markets such as China, South Korea, and India. Guidance was a little mixed, with management raising its adjusted 2016 EPS outlook to $8.07-to-$8.20 from the previous $8.05-to-$8.19 range, but lowering its 2016 revenue expectations to $17.84 billion-to-$18.00 billion from the previous range of $17.86 billion-to-$18.04 billion. 50 funds that we monitor were long Thermo Fisher Scientific Inc. (NYSE:TMO) at the end of March, down by three funds from the end of December.

Solid Quarter for AstraZeneca 

AstraZeneca plc (ADR) (NYSE:AZN) shares are 6% in the green this morning after the drug company reported net income of $0.83 per share on revenue of $5.60 billion for the second quarter, beating estimates by $0.07 per share and $40 million respectively. Guidance was relatively unchanged, with management continuing to expect revenue and core EPS for 2016 to decline by low-to-mid single-digit percentages in terms of CER. Of the 766 funds that we track, 18 funds had long positions worth $393.8 million in AstraZeneca plc (ADR) (NYSE:AZN) on March 31, compared to 20 funds with $381.72 million in positions on December 31.

Disclosure: None