5 Stocks in Limelight After Releasing Their Quarterly Reports

In this article, we discuss the 5 stocks in limelight after releasing their quarterly reports. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks in Limelight After Releasing Their Quarterly Reports.

5. Opendoor Technologies Inc. (NASDAQ:OPEN)

Number of Hedge Fund Holders: 35

Shares of Opendoor Technologies Inc. (NASDAQ:OPEN) jumped more than 15 percent on Thursday, 11 November 2021, after posting better-than-expected financial results for the third quarter. The digital platform operator for residential real estate reported a loss of 9 cents per share, well below a loss of 91 cents per share in the year-ago quarter.

Revenue for the quarter skyrocketed 91 percent on a year-over-year basis to $2.3 billion. Analysts were expecting Opendoor Technologies Inc. (NASDAQ:OPEN) to report a loss of 17 cents per share on revenue of $2 billion.

In addition, the company sold 5,988 homes in the quarter, representing a surge of 72 percent versus last year. Moreover, it acquired 15,181 homes, up 79 percent from the comparable period of 2020.

Looking forward, Opendoor Technologies Inc. (NASDAQ:OPEN) expects revenue in the range of $3.1 billion – $3.2 billion for the fourth quarter, above analysts’ average estimate of $2.92 billion.

4. Marqeta, Inc. (NASDAQ:MQ)

Number of Hedge Fund Holders: 35

Marqeta, Inc. (NASDAQ:MQ) recently came into the limelight after beating expectations for the third quarter. The Oakland-based card issuing platform reported a loss of 8 cents per share, narrower than a loss of 13 cents per share estimated by analysts.

Revenue came in at $131.5 million, above analysts’ average estimate of $119.6 million. Marqeta, Inc. (NASDAQ:MQ) had posted a loss of 10 cents per share on revenue of $119.56 million for the comparable period of 2020.

The company also issued its revenue outlook for the fourth quarter. Marqeta, Inc. (NASDAQ:MQ) expects to generate revenue in the range of $134 million – $139 million, above the consensus forecast of $125.8 million.

Speaking on the results, CEO Jason Gardner said:

“Modern card issuing is at the heart of today’s digital economy, and our third quarter results put that on display, both with the growth we’re seeing, and the way our platform is bringing to life unique new payments use cases for an incredible array of innovators.”

3. Tapestry, Inc. (NYSE:TPR)

Number of Hedge Fund Holders: 41

Shares of Tapestry, Inc. (NYSE:TPR) hit a nearly six-month high on Thursday, 11 November 2021, after delivering solid profit and sales for its fiscal first quarter. The luxury fashion company earned 82 cents per share on an adjusted basis, up from 58 cents per share in the same period of 2020.

In addition, Tapestry, Inc. (NYSE:TPR) posted revenue of $1.48 billion, up 26.3 percent versus the year-ago quarter. The results easily surpassed the consensus forecast of 70 cents per share for earnings and $1.48 billion for revenue.

If we break down the total sales by business units, Coach revenue climbed 27 percent to $1.11 billion, while Kate Spade’s revenue jumped 25 percent to $299.5 million in the quarter. In comparison, Stuart Weitzman’s revenue rose 18 percent versus last year to $66.5 million.

Tapestry, Inc. (NYSE:TPR) also updated its financial outlook for its fiscal year 2022. It expects adjusted earnings in the range of $3.45 – $3.50 per share, versus its previous of $3.30 – $3.35 per share. Moreover, the company now anticipates revenue of around $6.6 billion for the full year, compared to its earlier guidance of $6.4 billion.

Expressing his satisfaction with the results, CEO Joanne Crevoiserat said:

“We delivered another quarter of solid performance, reflecting strong customer engagement and increased demand for our brands. Importantly, revenue trends accelerated compared to pre-pandemic levels driven by North America, as well as continued growth in Digital and China – two key drivers of long-term opportunity.”

2. Organon & Co. (NYSE:OGN)

Number of Hedge Fund Holders: 44

Shares of Organon & Co. (NYSE:OGN) slipped over five percent on Thursday, 11 November 2021, despite beating expectations for the third quarter. The global health care company reported adjusted earnings of $1.67 per share, beating analysts’ average estimate of $1.44 per share.

Revenue came in at $1.6 billion, just ahead of the consensus forecast of $1.58 per share. Organon & Co. (NYSE:OGN) had posted adjusted earnings of $2.38 per share on revenue of $1.61 billion for the comparable period of 2020.

If we compare the performance of its flagship businesses, revenue from the Women’s Health segment decreased 10 percent, while revenue from the Established Brands segment slipped 6 percent in the quarter. On the bright side, biosimilars revenue jumped 41 percent on a year-over-year basis.

Organon & Co. (NYSE:OGN) also revised its revenue outlook for the full year. It expects to post revenue in the range of $6.2 – $6.3 billion for 2021, compared to its previous guidance between $6.1 – $6.4 billion.

1. The Walt Disney Company (NYSE:DIS)

Number of Hedge Fund Holders: 112

Shares of The Walt Disney Company (NYSE:DIS) recently fell to their lowest level in more than a year after announcing disappointing financial results for its fiscal fourth quarter. The California-based entertainment giant reported adjusted earnings of 37 cents per share, missing the consensus forecast of 51 cents per share.

The Walt Disney Company (NYSE:DIS) had posted a loss of 20 cents per share for the comparable period of 2020. In addition, revenue for the quarter jumped 26 percent versus last year to $18.53 billion but came in below analysts’ average estimate of $18.79 billion

Disney+ paid subscribers stood at 118.1 million at the end of the quarter, compared to 73.7 million in the comparable period of 2020. During the earnings call, The Walt Disney Company (NYSE:DIS) reaffirmed its long-term growth target for Disney+ subscribers. It expects Disney+ subscribers to grow in the range of 230 – 260 million by 2024.

Speaking on the results, CEO Bob Chapek said in a statement:

“This has been a very productive year for The Walt Disney Company, as we’ve made great strides in reopening our businesses while taking meaningful and innovative steps in Direct-to-Consumer and at our Parks, particularly with our popular new Disney Genie and Magic Key offerings.”

You can also take a peek at Yale University Stock Portfolio: Top 10 Picks and Top 10 Stock Picks of Brandon Osten’s Venator Capital Management.

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