In this article, we will take a look at the 10 stocks drawing attention post quarterly results. You can skip our detailed analysis of these companies, and go directly to the 5 Stocks Drawing Attention Post Quarterly Results.
Several tech stocks, including Broadcom Inc. (NASDAQ:AVGO) and Oracle Corporation (NYSE:ORCL), climbed to new highs on Friday, December 10, after they delivered solid profit and sales for their respective quarters.
Moreover, notable retailers, including Lululemon Athletica Inc. (NASDAQ:LULU), Academy Sports and Outdoors, Inc. (NASDAQ:ASO) and RH (NYSE:RH), were also trending among investors after releasing their earnings reports.
We will review the detailed performance of these companies in the remaining article. So, let’s start our list of 10 stocks drawing attention post quarterly results.
Stocks Drawing Attention Post Quarterly Results
10. United Natural Foods, Inc. (NYSE:UNFI)
Number of Hedge Fund Holders: 19
Shares of United Natural Foods, Inc. (NYSE:UNFI) recently hit a new 52-week high of $57.89 after announcing better-than-expected financial results for its fiscal first quarter ended October 30, 2021.
United Natural Foods, Inc. (NYSE:UNFI) reported adjusted earnings of 91 cents per share, nearly doubled from 51 cents per share in the year-ago quarter. Revenue came in at $7 billion, up 4.7 percent from the comparable period of 2020. The results easily surpassed the consensus forecast of 58 cents per share for earnings and $6.792 billion for revenue.
Looking forward, United Natural Foods, Inc. (NYSE:UNFI) expects adjusted earnings in the range of $3.90 – $4.20 per share and revenue between $27.8 and $28.3 billion for its fiscal year 2022.
Speaking on the results, CEO of United Natural Foods, Inc. (NYSE:UNFI), Sandy Douglas, said in a statement:
“I’m pleased with our start to fiscal 2022 and how UNFI is navigating a challenging operating environment while simultaneously investing for the future, including improved distribution capabilities and new facilities, to better serve our customers.”
9. Korn Ferry (NYSE:KFY)
Number of Hedge Fund Holders: 25
Shares of Korn Ferry (NYSE:KFY) slightly moved up on Wednesday, December 8, 2021, after delivering solid profit and sales for its fiscal second quarter. The management consulting firm earned $1.53 per share on an adjusted basis, significantly higher than 54 cents per share in the year-ago quarter.
Revenue for the quarter climbed 47 percent versus last year to $643.4 million. Analysts were expecting Korn Ferry (NYSE:KFY) to post adjusted earnings of $1.37 per share on revenue of $604.7 million.
The company also released the financial outlook for its fiscal third quarter. Korn Ferry (NYSE:KFY) expects earnings in the range of $1.38 – $1.56 per share and fee revenue between $640 – $660 million.
Like Korn Ferry (NYSE:KFY), investors are also closely watching Broadcom Inc. (NASDAQ:AVGO), Oracle Corporation (NYSE:ORCL), Athletica Inc. (NASDAQ:LULU), Academy Sports and Outdoors, Inc. (NASDAQ:ASO) and RH (NYSE:RH), after they posted their financial results.
8. Ciena Corporation (NYSE:CIEN)
Number of Hedge Fund Holders: 28
Shares of Ciena Corporation (NYSE:CIEN) climbed more than 15 percent on Thursday, December 9, 2021, after announcing the financial results for its fiscal fourth quarter. The Maryland-based networking systems and software company reported adjusted earnings of 85 cents per share, compared to 60 cents per share in the year-ago quarter.
Analysts were looking for earnings of 86 cents per share. In addition, Ciena Corporation (NYSE:CIEN) posted revenue of $1.04 billion, up 25.7 percent versus last year and above expectations of $1.03 billion.
If we look at the performance of its flagship segments, product revenue in the quarter increased to $860.9 million versus $668.7 million last year. In comparison, services revenue advanced to $180.6 million, compared to $159.8 million in the fourth quarter of 2020.
Discussing the results, CEO of Ciena Corporation (NYSE:CIEN), Gary Smith, said in a statement:
“Our strong financial results exceeded our expectations in the fourth quarter and for the full fiscal year, driven by continued execution of our strategy and our demonstrated ability to manage supply chain challenges.”
7. Campbell Soup Company (NYSE:CPB)
Number of Hedge Fund Holders: 29
Shares of Campbell Soup Company (NYSE:CPB) rose nearly two percent on Wednesday, December 8, 2021, after announcing mixed financial results for its fiscal first quarter. The processed food and snack company earned 89 cents per share on an adjusted basis, ahead of the consensus forecast of 81 cents per share.
Revenue for the quarter came in at $2.236 billion, missing expectations of $2.276 billion. Campbell Soup Company (NYSE:CPB) had posted adjusted earnings of $1.01 per share on revenue of $2.340 billion for the comparable period of 2020.
Looking forward, Campbell Soup Company (NYSE:CPB) expects its gross margins to stay under pressure in the current quarter amid higher labor and material costs. In addition, the company expects its fiscal 2022 revenue in the range of flat to -2 percent, while analysts expect a drop of 0.5 percent for the same period.
Like Campbell Soup Company (NYSE:CPB), Broadcom Inc. (NASDAQ:AVGO), Oracle Corporation (NYSE:ORCL), Athletica Inc. (NASDAQ:LULU), Academy Sports and Outdoors, Inc. (NASDAQ:ASO) and RH (NYSE:RH) also came into the spotlight after releasing their financial results.
6. Vail Resorts, Inc. (NYSE:MTN)
Number of Hedge Fund Holders: 40
Shares of Vail Resorts, Inc. (NYSE:MTN) slipped nearly five percent in the after-hours trading session on Thursday, December 9, 2021, after its fiscal first-quarter revenue came in below expectations.
Vail Resorts, Inc. (NYSE:MTN) posted revenue of $175.6 million, up 33.2 percent versus the year-ago quarter but behind analysts’ average estimate of $192.5 million. Nevertheless, the company’s quarterly loss of $3.44 per share was narrower than the consensus forecast for a loss of $3.62 per share.
Looking at the sales performance of its flagship units, revenue from the mountain segment increased 9.9 percent versus last year to $109.3 million. In comparison, revenue from the lodging segment skyrocketed 108.2 percent to $64.2 million in the quarter. Vail Resorts, Inc. (NYSE:MTN) said the surge was mainly driven by fewer pandemic-related restrictions.
Speaking on the results, CEO of Vail Resorts, Inc. (NYSE:MTN), Kirsten Lynch, said in a statement:
“Our first fiscal quarter historically operates at a loss, given that our North American mountain resorts are generally not open for ski season operations during the period. The quarter’s results are primarily driven by winter operating results from our Australian resorts and our North American resorts’ summer activities, dining, retail/rental and lodging operations, and administrative expenses.”
Click to continue reading and see 5 Stocks Drawing Attention Post Quarterly Results.
Suggested articles:
- 15 Best Stocks to Buy for 2022 According to Analysts
- Warren Buffett’s Top 10 Stock Picks
- 10 Best EV Charging Stocks to Buy Now
Disclosure: None. 10 Stocks Drawing Attention Post Quarterly Results is originally published on Insider Monkey.
