10 Stocks in The Limelight After Announcing Their Financial Results

In this article, we will take a look at the 10 stocks in the limelight after announcing their financial results.

Leading financial stocks, including JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc. (NYSE:C) and Wells Fargo & Company (NYSE:WFC), have just kicked off the fourth-quarter earnings season.

Shares of JPMorgan and Citigroup fell in the pre-market trading on Friday, January 14, after their quarterly profit fell on a year-over-year basis. In comparison, Wells Fargo shares hit a new 52-week high of $58.87 following its upbeat financial performance.

Several other companies, such as Delta Air Lines, Inc. (NYSE:DAL) and Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), also released financial results for the fourth quarter.

We will review the detailed performance of these companies in the remaining article. So, let’s start our list of 10 stocks in the limelight after announcing their financial results.

Stocks in The Limelight After Announcing Their Financial Results

10. Commercial Metals Company (NYSE:CMC)

Number of Hedge Fund Holders: 19

Commercial Metals Company (NYSE:CMC) recently announced a better-than-expected profit for its fiscal first quarter, mainly driven by improved margins and higher demand for steel products.

The Texas-based steel and metal manufacturer reported adjusted earnings of $1.62 per share for the three months ended November 30, 2021, well above 58 cents per share in the comparable period of 2020.

Revenue came in at $1.98 billion versus $1.39 billion in the year-ago quarter. Analysts were expecting Commercial Metals Company to post earnings of $1.23 per share on revenue of $2.06 billion.

Speaking on the results, CEO of Commercial Metals Company, Barbara R. Smith, said in a statement:

“Our record first quarter results again demonstrate the earnings power created by our strategic transformation of CMC.  The portfolio of assets we have built, together with the exceptional execution by our team members, enabled our Company to fully capitalize on a very strong market environment.”

9. Albertsons Companies, Inc. (NYSE:ACI)

Number of Hedge Fund Holders: 21

Shares of Albertsons Companies, Inc. (NYSE:ACI) fell nearly 10 percent on Tuesday, January 11, 2022, despite beating expectations for its fiscal third quarter. The Idaho-based food and drug retailer earned 79 cents per share on an adjusted basis, up from 66 cents per share in the year-ago quarter.

In addition, Albertsons Companies, Inc. posted revenue of $16.7 billion, compared to $15.4 billion in the comparable period of 2020. The results easily exceeded the consensus forecast of 59 cents per share for earnings and $16.08 billion for revenue.

Albertsons Companies, Inc. also raised the earnings outlook for its FY 2021. The company is now expecting adjusted earnings in the range of $2.90 – $2.95 per share, compared to its earlier projection between $2.50 – $2.60 per share.

Like Albertsons Companies, Inc., investors are also closely watching JPMorgan Chase & Co., Citigroup Inc., Wells Fargo & Company, Delta Air Lines, Inc. and Taiwan Semiconductor Manufacturing Company Limited, following their quarterly reports.

8. TD SYNNEX Corporation (NYSE:SNX)

Number of Hedge Fund Holders: 24

TD SYNNEX Corporation (NYSE:SNX) recently announced its fiscal fourth-quarter profit and sales above analysts’ expectations. The provider of IT supply chain services reported adjusted earnings of $2.86 per share, compared to $2.82 per share in the comparable period of 2020.

Analysts were expecting TD SYNNEX Corporation to post adjusted earnings of $2.67 per share. Revenue for the quarter jumped 155.1 percent on a year-over-year basis to $15.6 billion, beating expectations of $14.25 billion.

TD SYNNEX Corporation also issued the financial outlook for its FY 2022. It expects adjusted earnings in the range of $2.55 – $2.85 per share and revenue between 14.75 – $15.75 billion.

Commenting on the quarter, CEO of TD SYNNEX Corporation, Rich Hume, said in a statement:

“Fiscal Q4 represents our first 90 days together as TD SYNNEX. The team responded to the ongoing supply chain challenges with an unwavering focus, strong execution and collaboration, leading to results ahead of expectations.”

7. KB Home (NYSE:KBH)

Number of Hedge Fund Holders: 26

Shares of KB Home (NYSE:KBH) climbed to an eight-month high on Thursday, January 13, 2022, after delivering solid financial results for its fiscal fourth quarter. The California-based homebuilder posted earnings of $1.91 per share, easily surpassing the consensus forecast of $1.77 per share.

In addition, KB Home generated revenue of $1.68 billion for the quarter, up 40 percent from the year-ago quarter and also ahead of analysts’ average estimate of $1.71 billion. Looking at the key growth indicators, home deliveries in the quarter jumped 28 percent to 3,679, while the average selling price improved 9 percent to $451,100.

Looking forward, KB Home expects housing revenue in the range of $7.20 billion to $7.60 billion and the average selling price between $480,000 – $490,000 for its FY 2022.

Like KB Home, JPMorgan Chase & Co., Citigroup Inc., Wells Fargo & Company, Delta Air Lines, Inc. and Taiwan Semiconductor Manufacturing Company Limited, also caught investors’ attention after their earnings reports.

6. Jefferies Financial Group Inc. (NYSE:JEF)

Number of Hedge Fund Holders: 37

Shares of Jefferies Financial Group Inc. (NYSE:JEF) fell more than nine percent on Wednesday, January 12, 2022, after announcing lower-than-expected revenue for its fiscal fourth quarter.

Jefferies Financial Group Inc. posted revenue of $1.81 billion, down from $1.86 billion in the year-ago quarter and below the consensus forecast of $1.89 billion. On the bright side, the adjusted earnings of $1.36 per share surpassed expectations of $1.34 per share.

If we look at the performance of its key business units, revenue from the investment banking segment increased to $1.18 billion, mainly driven by record advisory sales. On the downside, the combined capital markets and other revenue fell 30 percent on a year-over-year basis to $438 million. The drop was mainly attributed to challenging market conditions.

Discussing the results, CEO of Jefferies Financial Group Inc., Richard Handler, said in a statement:

“Our performance and momentum are the direct result of the persistent hard work and dedication of our 4,508 Jefferies Group employee-partners around the globe, decades of investment to create strong breadth and depth of capabilities across our integrated Investment Banking and Capital Markets platforms, our unique partnership culture and a supportive operating environment.”

5. Delta Air Lines, Inc. (NYSE:DAL)

Number of Hedge Fund Holders: 50

Shares of Delta Air Lines, Inc. rose more than two percent on Thursday, January 13, 2022, after posting better-than-expected financial results for the fourth quarter. In addition, the Georgia-based airline announced that it expects to turn a profit in 2022 despite a challenging environment in the first quarter.

Delta Air Lines, Inc. reported adjusted earnings of 22 cents per share, beating the consensus forecast of 16 cents per share. Revenue came in at $9.47 billion, ahead of analysts’ average estimate of $9.21 billion.

Speaking on the results, CEO of Delta Air Lines, Inc., Ed Bastian, said in a statement:

“2021 was a year like no other for Delta, with significant progress in our recovery supported by growing brand preference, enabling us to be the only major U.S. airline to deliver profitability across the second half of the year.”

4. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Number of Hedge Fund Holders: 67

Shares of Taiwan Semiconductor Manufacturing Company Limited hit a new 52-week high of $145 on January 14, 2022, after delivering impressive profit and sales for the fourth quarter.

Taiwan Semiconductor Manufacturing Company Limited earned $1.15 per share on revenue of $15.74 billion. The results easily surpassed analysts’ average estimate of $1.12 per share for earnings and $15.620 billion for revenue.

The company also issued its sales outlook for the first quarter. Taiwan Semiconductor Manufacturing Company Limited expects revenue in the range of $16.6 billion – $17.2 billion for the current quarter.

Discussing the results, CEO Wendell Huang said in a statement:

“Our fourth quarter business was supported by strong demand for our industry-leading 5- nanometer technology. Moving into first quarter 2022, we expect our business to be supported by HPC-related demand, continued recovery in the automotive segment, and a milder smartphone seasonality than in recent years.”

3. Citigroup Inc. (NYSE:C)

Number of Hedge Fund Holders: 79

Shares of Citigroup Inc. fell over two percent in the pre-market trading session on Friday, January 14, 2022, despite beating profit and sales expectations for the fourth quarter. The New York-based bank reported earnings of $1.46 per share, down from $1.92 per share in the year-ago quarter.

Revenue came in at $17 billion, nearly unchanged from $16.8 billion in the comparable period of 2020. Analysts were expecting Citigroup Inc. to post earnings of $1.39 per share on revenue of $16.85 billion.

If we look at the performance of key business segments, revenue from the institutional clients’ group (ICG) rose four percent versus last year to $9.9 billion. On the downside, revenue from the global consumer banking (GCB) fell six percent to $6.9 billion in the quarter.

Commenting on the quarter, CEO of Citigroup Inc., Jane Fraser, said:

“We continue to make steady progress on executing our strategy as demonstrated most recently by the signing of an agreement to sell four consumer businesses in Asia. We are also aligning our organization and reporting structure with our strategy, including the creation of the Personal Banking and Wealth Management and Legacy Franchises segments. This will make it easier for our investors to understand the performance of our core businesses and optimize the businesses we have chosen to exit.”

2. Wells Fargo & Company (NYSE:WFC)

Number of Hedge Fund Holders: 88

Shares of Wells Fargo & Company made a new 52-week high of $58.87 on Friday, January 14, 2022, after posting solid profit and sales for the fourth quarter. The San Francisco-based bank earned $1.38 per share, significantly higher than 66 cents per share in the comparable period of 2020.

Analysts were expecting Wells Fargo & Company to report earnings of $1.11 per share. In addition, revenue came in at $20.86 billion versus $18.49 billion in the year-ago quarter and above expectations of $18.79 billion.

Speaking on the results, CEO of Wells Fargo & Company, Charlie Scharf, said in a statement:

“As the economy continued to recover we saw increased consumer spending, higher investment banking fees, higher asset-based fees in our Wealth and Investment Management business, and strong equity gains in our affiliated venture capital and private equity businesses. We continued to manage credit well and the strong economic environment helped reduce charge-offs to historical lows and our results benefitted from reductions in our allowance for credit losses.”

1. JPMorgan Chase & Co. (NYSE:JPM)

Number of Hedge Fund Holders: 101

Shares of JPMorgan Chase & Co. turned red on Friday, January 14, 2022, after its fourth-quarter profit fell on a year-over-year basis. The New York-based financial services company reported earnings of $3.33 per share, compared to $3.79 per share in the same period last year.

Revenue inched up one percent versus the year-ago quarter to $30.3 billion. Analysts were expecting JPMorgan Chase & Co. to post earnings of $3.01 per share on revenue of $29.78 billion.

If we look at the performance of key units of JPMorgan Chase & Co., revenue from the Consumer & Community Banking (CCB) decreased four percent on a year-over-year basis to $12.3 billion.

In comparison, Corporate & Investment Bank (CIB) revenue rose two percent to $11.5 billion, Commercial Banking (CB) revenue increased six percent to $2.6 billion, and Asset & Wealth Management (AWM) revenue jumped 16 percent to $4.5 billion.

Discussing the results, CEO of JPMorgan Chase & Co., Jamie Dimon, said:

“JPMorgan Chase reported solid results across our businesses benefiting from elevated capital markets activity and a pick up in lending activity as firmwide average loans were up 6%. The economy continues to do quite well despite headwinds related to the Omicron variant, inflation and supply chain bottlenecks.”

You can also take a peek at 10 Tech Stocks to Buy According to Select Equity Group and Top 10 Stock Picks of Thomas Bancroft’s Makaira Partners.

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originally published on Insider Monkey.