In this article, we will take a look at the 10 stocks on investors’ radar after earnings reports. You can skip our detailed analysis of these companies and go directly to the 5 Stocks On Investors’ Radar After Earnings Reports.
Notable stocks from the healthcare, consumer cyclical, and technology sectors, including Pfizer Inc. (NYSE:PFE), Amgen Inc. (NASDAQ:AMGN), Peloton Interactive, Inc. (NASDAQ:PTON) and Fiserv, Inc. (NASDAQ:FISV), recently came out with their earnings reports.
If we look at their price action, shares of Pfizer and Fiserv turned red after missing sales expectations for their respective quarters, while Amgen stock jumped to a nearly six-month high after posting upbeat results.
On the other hand, Peloton stock climbed over 25 percent despite its weak financial performance. However, the surge apparently followed multiple reports that Amazon and Nike are interested in buying Peloton.
Several other companies, including Hasbro, Inc. (NASDAQ: HAS), Tyson Foods, Inc. (NYSE:TSN) and DuPont de Nemours, Inc. (NYSE:DD), also came into the limelight after releasing their financial results.
Now, let’s discuss the detailed performance of these companies.
Stocks On Investors’ Radar After Earnings Reports
10. Rambus Inc. (NASDAQ:RMBS)
Number of Hedge Fund Holders: 21
Shares of Rambus Inc. (NASDAQ:RMBS) jumped nearly five percent on Tuesday, February 8, 2022, despite posting mixed financial results for the fourth quarter. The tech company generated revenue of $91.8 million, below the consensus estimate of $121.52 million.
On the bright side, Rambus Inc. (NASDAQ:RMBS) earned 39 cents per share on an adjusted basis, beating analysts’ average estimate of 37 cents per share. Among other updates, the company said that cash from operating activities came in at $72.2 million for the quarter.
Rambus Inc. (NASDAQ:RMBS) also released its segment-wise sales outlook for the first quarter. It expects product revenue in the range of $43 – $49 million, royalty revenue of $30 – $36 million and contract and other revenue between $12 – $18 million.
Speaking on the results, CEO Luc Seraphin said:
“Rambus delivered an outstanding fourth quarter contributing to an exceptionally good year, driven by excellent execution and record product revenue. The record cash generation fuels our ongoing strategic investment in scaling the business, returning value to stockholders, and extending our product roadmap to enable continued profitable growth.”
9. Axcelis Technologies, Inc. (NASDAQ:ACLS)
Number of Hedge Fund Holders: 22
Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) rose more than six percent on Tuesday, February 8, 2022, after the components manufacturer for the semiconductor industries announced better-than-expected financial results for the fourth quarter.
Axcelis Technologies, Inc. (NASDAQ:ACLS) reported earnings of $1.05 per share, significantly higher than 43 cents per share in the year-ago period. Analysts were looking for earnings of 84 cents per share.
In addition, the company posted revenue of $205.7 million, compared to $122.2 million for the fourth quarter of 2020 and above expectations of $190 million. Looking forward, Axcelis Technologies, Inc. (NASDAQ:ACLS) expects revenue of around $193 million for the first quarter.
Like Axcelis Technologies, Inc. (NASDAQ:ACLS), investors are also closely watching Pfizer Inc. (NYSE:PFE), Amgen Inc. (NASDAQ:AMGN) and Peloton Interactive, Inc. (NASDAQ:PTON), following their earnings reports.
8. Hasbro, Inc. (NASDAQ: HAS)
Number of Hedge Fund Holders: 25
Shares of Hasbro, Inc. (NASDAQ: HAS) turned red on Monday, February 7, 2022, even after announcing its profit and sales for the fourth quarter above expectations. The results were helped by a recovery in its television production unit and higher sale of toys related to the latest Spider-Man sequel.
Hasbro, Inc. (NASDAQ: HAS) earned $1.21 per share on an adjusted basis, crushing the consensus expectations of 88 cents per share. Revenue for the quarter jumped 17 percent on a year-over-year basis to $2.01 billion, surpassing analysts’ average estimate of $1.87 billion.
If we look at the company’s segment-wise sales performance, revenue from the entertainment division climbed 54 percent, revenue from the wizards of the coast and digital gaming segment rose 18 percent, and revenue from the consumer products segment increased 9 percent in the quarter.
Hasbro, Inc. (NASDAQ: HAS) also released its sales outlook for 2022. The toymaker expects its revenue to grow in a low-single-digit percentage.
7. Tyson Foods, Inc. (NYSE:TSN)
Number of Hedge Fund Holders: 33
Shares of Tyson Foods, Inc. (NYSE:TSN) recently climbed to an all-time high after posting solid profit and sales for its fiscal first quarter. The company benefitted from soaring meat prices and strong demand for its beef, pork and chicken during the quarter.
Tyson Foods, Inc. (NYSE:TSN) reported adjusted earnings of $2.87 per share, up 48 percent versus the year-ago period. Revenue for the quarter increased to $12.93 billion, compared to $10.46 billion in the same period last year.
Analysts were expecting Tyson Foods, Inc. (NYSE:TSN) to post earnings of $1.90 per share on revenue of $12.18 billion. Looking forward, the company expects its fiscal 2022 revenue to come at the higher end of its previous outlook of $49 – $51 billion.
Like Tyson Foods, Inc. (NYSE:TSN), Pfizer Inc. (NYSE:PFE), Amgen Inc. (NASDAQ:AMGN) and Peloton Interactive, Inc. (NASDAQ:PTON), also came into the spotlight after their financial results.
6. Centene Corporation (NYSE:CNC)
Number of Hedge Fund Holders: 50
Shares of Centene Corporation (NYSE:CNC) hit a new 52-week high of $86.01 on Tuesday, February 8, 2022, after the Missouri-based healthcare company announced better-than-expected financial results for the fourth quarter.
Centene Corporation (NYSE:CNC) earned $1.01 per share on an adjusted basis, more than double from 46 cents per share in the comparable period of 2020. Analysts were looking for earnings of 98 cents per share.
In addition, Centene Corporation (NYSE:CNC) posted revenue of $32.6 billion, up 15 percent versus last year and just ahead of the consensus forecast of $32.5 billion. Revenue from its flagship premium and services segment rose 15 percent to $30.5 billion in the quarter.
Centene Corporation (NYSE:CNC) also released its financial outlook for 2022. It expects adjusted earnings in the range of $5.30 – $5.50 per share and revenue between $135.9 – $137.9 billion for the current fiscal year. The guidance is in line with the consensus forecast of $5.44 per share for earnings and $135.9 billion for revenue.
Discussing the results, CEO Michael Neidorff said in a statement:
“We ended 2021 with strong fourth quarter results at the high end of our previously provided earnings guidance range. Our portfolio is performing well as we executed across our three major product lines, building on our strong foundation and extending our market-leading position in government sponsored healthcare.”
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Disclosure: None. 10 Stocks On Investors’ Radar After Earnings Reports is originally published on Insider Monkey
