11 Stocks Drawing Attention After Posting Their Financial Results

In this article, we will take a look at the 11 stocks drawing attention after posting their financial results.

Healthcare giant CVS Health Corporation (NYSE:CVS), semiconductor behemoth Advanced Micro Devices, Inc. (NASDAQ:AMD) and coffee giant Starbucks Corporation (NASDAQ:SBUX) were among the notable companies that recently came out with their earnings reports.

Shares of Advanced Micro Devices and CVS Health rose in the pre-market trading session on Wednesday, May 4, following their upbeat financial results for Q1. Moreover, Starbucks shares also turned green following its record quarterly sales.

Many other companies, including online lodging marketplace operator Airbnb, Inc. (NASDAQ:ABNB) and pharmaceutical giant Pfizer Inc. (NYSE:PFE), also came into the limelight after delivering solid financial performance.

Photo by Adam Nowakowski on Unsplash

Now, let’s review the results of these companies in detail.

Stocks Drawing Attention After Posting Their Financial Results

11. Illinois Tool Works Inc. (NYSE:ITW)

Number of Hedge Fund Holders: 29

Illinois Tool Works Inc. (NYSE:ITW) recently announced better-than-expected financial results for the first quarter and lifted its outlook for the full year. As a result, the company’s shares rose over two percent on Tuesday, May 3, 2022.

The industrial products and equipment manufacturer reported earnings of $2.11 per share, unchanged from the year-ago period. Revenue for the quarter rose 11.2 percent on a year-over-year basis to $3.9 billion. Analysts were expecting Illinois Tool Works Inc. (NYSE:ITW) to report earnings of $2.06 per share on revenue of $3.75 billion.

For fiscal 2022, Illinois Tool Works Inc. (NYSE:ITW) now expects earnings in the range of $9 – $9.40 per share and organic sales growth between 7 – 10 percent.

Speaking on the results, CEO E. Scott Santi said in a statement:

“In what remains a challenging and dynamic environment, our ITW business teams around the world continue to do an exceptional job of leveraging the performance power of the ITW Business Model and our advantaged supply position to support our customers and execute our ‘Win the Recovery’ strategy to accelerate profitable market penetration and organic growth across our portfolio.”

10. Skyworks Solutions, Inc. (NASDAQ:SWKS)

Number of Hedge Fund Holders: 41

Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) turned red in the extended hours on Tuesday, May 3, 2022, after its fiscal third-quarter outlook fell short of estimates.

The Irvine-based semiconductor company guided for adjusted earnings of about $2.36 per share and revenue between $1.2 – $1.26 billion for the current quarter. This compares to the consensus of $2.55 per share for earnings and $1.3 billion for revenue.

For its fiscal second quarter, Skyworks Solutions, Inc. (NASDAQ:SWKS) reported adjusted earnings of $2.63 per share that matched the consensus forecast. Revenue for the quarter rose 14 percent versus last year to $1.34 billion, beating expectations of $1.33 billion.

Like Skyworks Solutions, Inc. (NASDAQ:SWKS), investors are also closely monitoring CVS Health Corporation (NYSE:CVS), Advanced Micro Devices, Inc. (NASDAQ:AMD) and Starbucks Corporation (NASDAQ:SBUX), following their financial results.

9. Verisk Analytics, Inc. (NASDAQ:VRSK)

Number of Hedge Fund Holders: 41

Shares of Verisk Analytics, Inc. (NASDAQ:VRSK) slipped over two percent in the after-hours trading session on Tuesday, May 3, 2022, after delivering mixed financial performance for the first quarter.

Verisk Analytics, Inc. (NASDAQ:VRSK) earned $1.34 per share on an adjusted basis, up from $1.23 per share in the first quarter of 2021. Revenue came in at $775.5 million, representing a surge of 6.8 percent over the same period of the prior year. Analysts were looking for earnings of $1.39 per share on revenue of $774.73 million.

Among other updates, Verisk Analytics, Inc. (NASDAQ:VRSK) reported that it repurchased $571.3 million worth of its common stock during the first quarter. Moreover, the company said that it stopped all commercial activities in Russia that wiped out $2.9 million from the total quarterly sales.

8. Lyft, Inc. (NASDAQ:LYFT)

Number of Hedge Fund Holders: 43

Lyft, Inc. (NASDAQ:LYFT) recently announced solid financial results for the first quarter. However, its sales outlook for the second quarter disappointed investors, sending its shares down more than 25 percent in the extended hours on Tuesday, May 3, 2022.

The provider of online ridesharing services reported adjusted earnings of 7 cents per share, swinging from an adjusted loss of 35 cents per share in the year-ago period. In addition, Lyft, Inc. (NASDAQ:LYFT) posted revenue of $876 million, representing a jump of 44 percent on a year-over-year basis. The results surpassed analysts’ average estimate for a loss of 7 cents per share and revenue of $846 million.

In addition, active riders in the quarter grew 31.9 percent to 17.8 million, while revenue per active rider increased 9 percent to $49.18. Analysts were looking for active riders of 17.9 million and revenue per active rider of $47.07.

Looking forward, Lyft, Inc. (NASDAQ:LYFT) expects to generate revenue in the range of $950 – $1 billion for the current quarter, slightly below the expectations of $1.02 billion.

7. Paycom Software, Inc. (NYSE:PAYC)

Number of Hedge Fund Holders: 46

Shares of Paycom Software, Inc. (NYSE:PAYC) turned green in the after-hours trading session on Tuesday, May 3, 2022, after delivering impressive profit and sales for the first quarter. The Oklahoma-based company earned $1.90 per share on an adjusted basis, compared to $1.47 per share in the same period of 2021.

Revenue for the quarter jumped 29.9 percent versus last year to $353.5 million. Analysts were expecting Paycom Software, Inc. (NYSE:PAYC) to report earnings of $1.75 per share on revenue of $272.2 million.

Looking forward, Paycom Software, Inc. (NYSE:PAYC) anticipates revenue in the range of $308 – $310 million for the second quarter and between $1.333 – $1.335 billion for the full year.

Like Paycom Software, Inc. (NYSE:PAYC), CVS Health Corporation (NYSE:CVS), Advanced Micro Devices, Inc. (NASDAQ:AMD) and Starbucks Corporation (NASDAQ:SBUX) are also drawing attention after posting their financial results.

6. Match Group, Inc. (NASDAQ:MTCH)

Number of Hedge Fund Holders: 53

Match Group, Inc. (NASDAQ:MTCH) recently announced its first-quarter profit and sales above analysts’ expectations. The operator of leading online dating apps reported earnings of 60 cents per share, topping expectations of 53 cents per share. The quarterly revenue of $798.63 million also surpassed the consensus of $795.69 million.

However, Match Group, Inc. (NASDAQ:MTCH) issued a disappointing sales outlook for the second quarter, citing a challenging macroeconomic environment. The company now expects to generate revenue in the range of $800 – $810 million for the current quarter, behind analysts’ average estimate of $835 million. The weak guidance sent Match Group shares down nearly 5 percent in the extended hours on Tuesday, May 3, 2022.

Discussing the results, Match Group, Inc. (NASDAQ:MTCH) said several macro factors have created a challenging operating environment for the company. For instance, the Russia-Ukraine conflict is expected to negatively impact its revenue by $10 million every quarter.

Match Group, Inc. (NASDAQ:MTCH) added that the endless waves of coronavirus have been affecting the adoption of its services. Mobility in many geographies is still below pre-pandemic levels. However, the company expects to entice more people towards its dating apps through marketing campaigns.

Among other updates, Match Group, Inc. (NASDAQ:MTCH) announced that Shar Dubey will step down from the position of CEO at the end of this month. Subsequently, Zynga’s president Bernard Kim will become the new chief. Meanwhile, Dubey will stay a part of Match Group’s board of directors.

5. Starbucks Corporation (NASDAQ:SBUX)

Number of Hedge Fund Holders: 53

Shares of Starbucks Corporation (NASDAQ:SBUX) rose over six percent in the after-hours trading session on Tuesday, May 3, 2022, after its fiscal second-quarter profit matched expectations.

Starbucks Corporation (NASDAQ:SBUX) reported adjusted earnings of 59 cents per share, down from 61 cents per share in the same period last year. Revenue came in at $7.64 billion, up 15 percent on a year-over-year basis. Analysts were looking for earnings of 59 cents per share on revenue of $7.6 billion.

Among other updates, Starbucks Corporation (NASDAQ:SBUX) reported that it added 313 new stores in the quarter, bringing the total count to 34,630. Overall, stores in the United States and China account for 61 percent of the total portfolio.

Discussing the results, CEO Howard Schultz said:

“Given record demand and changes in customer behavior we are accelerating our store growth plans, primarily adding high-returning drive-thrus, and accelerating renovation programs so we can better meet demand and serve our customers where they are.”

4. Airbnb, Inc. (NASDAQ:ABNB)

Number of Hedge Fund Holders: 63

Shares of Airbnb, Inc. (NASDAQ:ABNB) turned green in the pre-market trading session on Wednesday, May 4, 2022, following its upbeat financial performance for the first quarter. The results were mainly attributed to accelerated travel recovery and improved bookings.

Airbnb, Inc. (NASDAQ:ABNB) reported a loss of 3 cents per share, narrower than analysts’ average estimate for a loss of 29 cents per share. Revenue for the quarter skyrocketed 70 percent versus last year to $1.51 billion and exceeded the consensus of $1.45 billion.

For the second quarter, Airbnb, Inc. (NASDAQ:ABNB) guided for revenue in the range of $2.03 – $2.13 billion. This compares to the consensus of $1.96 billion.

Praising the latest performance, CEO Brian Chesky said:

“The first quarter of 2022 was another record quarter for Airbnb. Guests are continuing to travel domestically and to rural destinations, and now, guests are also returning to cities and crossing borders at or above pre-pandemic levels. Airbnb is stronger than ever before.”

3. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 69

Advanced Micro Devices, Inc. (NASDAQ:AMD) recently crushed profit and sales expectations for the first quarter amid strong growth across its flagship segments. The semiconductor giant reported adjusted earnings of $1.13 per share, significantly higher than 52 cents per share in the year-ago period.

Revenue for the quarter climbed 71 percent on a year-over-year basis to $5.89 billion. Analysts were expecting Advanced Micro Devices, Inc. (NASDAQ:AMD) to earn 91 cents per share on revenue of $5.52 billion.

Advanced Micro Devices, Inc. (NASDAQ:AMD) also released its segment-wise sales results. Revenue from the Computing and Graphics business climbed 33 percent to $2.8 billion, while revenue from the Enterprise, Embedded and Semi-Custom division soared 88 percent to $2.5 billion in the quarter.

Looking forward, Advanced Micro Devices, Inc. (NASDAQ:AMD) expects to generate revenue of approx. $6.5 billion for the second quarter. The outlook represents a growth of 69 percent over the same period of 2021. It is also above analysts’ average estimate of $6.38 billion.

Speaking on the results, CEO Dr. Lisa Su said:

“The first quarter marked a significant inflection point in our journey to scale and transform AMD as we delivered record revenue and closed our strategic acquisition of Xilinx. Each of our businesses grew by a significant double digit percentage year-over-year, led by EPYC server processor revenue more than doubling for the third straight quarter.”

2. CVS Health Corporation (NYSE:CVS)

Number of Hedge Fund Holders: 71

Shares of CVS Health Corporation (NYSE:CVS) rose nearly two percent in the pre-market trading session on Wednesday, May 4, 2022, after delivering impressive financial performance for the first quarter.

CVS Health Corporation (NYSE:CVS) reported earnings of $2.22 per share on an adjusted basis, topping estimates of $2.15 per share. Moreover, its quarterly revenue rose 11.2 percent on a year-over-year basis to $76.83 billion and surpassed expectations of $75.39 billion.

CVS Health Corporation (NYSE:CVS) continues to benefit from the pandemic as people visit its stores for coronavirus tests and receiving vaccine shots. Meanwhile, the company is adding new healthcare services across its outlets to boost foot traffic.

Looking forward, CVS Health Corporation (NYSE:CVS) raised its 2022 adjusted earnings outlook to a range of $8.20 – $8.40 per share, from its previous guidance between $8.10 – $8.30 per share.

1. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 83

Share of Pfizer Inc. (NYSE:PFE) closed higher on Tuesday, May 3, 2022, after the pharmaceutical giant posted solid profit and sales for the first quarter. The New York-based company reported adjusted earnings of $1.62 per share, well above 95 cents per share in the year-ago period.

In addition, Pfizer Inc. (NYSE:PFE) posted revenue of $25.7 billion, representing a big jump of 77 percent over the same period of 2021. The results easily surpassed analysts’ average estimate for earnings of $1.50 per share and revenue of $23.95 billion.

On the downside, Pfizer Inc. (NYSE:PFE) slashed its profit outlook for the full year. The company now anticipates adjusted earnings in the range of $6.25 – $6.45 per share versus its previous forecast of $6.35 – $6.55 per share.

However, Pfizer Inc. (NYSE:PFE) maintained its sales outlook for 2022. It continues to expect revenue in the range of $98 – $102 billion for the full year.

Discussing the results, CEO Dr. Albert Bourla said in a statement:

“We continue to supply the world with Comirnaty, which remains a critical tool for helping patients and societies avoid the worst impacts of the COVID-19 pandemic, and we are on track to fulfill our commitment to deliver at least 2 billion doses to low- and middle-income countries in 2021 and 2022, including at least 1 billion doses this year.”

You can also take a peek at 10 Best Fertilizer Stocks To Buy Now and 10 Favorite Stocks of Dan Loeb’s Third Point.

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Disclosure: None. 11 Stocks Drawing Attention After Posting Their Financial Results is originally published on Insider Monkey.