10 Stocks Making Big Moves on Financial Results

In this article, we will take a look at the 10 stocks making big moves on financial results.

Notable stocks from the communication services, technology and healthcare sectors, including Meta Platforms, Inc. (NASDAQ:FB), T-Mobile US, Inc. (NASDAQ:TMUS), QUALCOMM Incorporated (NASDAQ:QCOM) and AbbVie Inc. (NYSE:ABBV), recently announced their financial results.

Meta Platforms stock took a deep dive in the early trading Thursday, February 3, after posting lower-than-expected earnings and offering a weak sales outlook. The drop also brought down the Nasdaq Composite and S&P 500 indices.

On the other hand, QUALCOMM stock also turned red despite beating quarterly expectations. In comparison, shares of T-Mobile and AbbVie rose after the two companies surpassed financial expectations for their respective quarters.

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Now let’s review the detailed performance of these companies.

Stocks Making Big Moves on Financial Results

10. Emerson Electric Co. (NYSE:EMR)

Number of Hedge Fund Holders: 41

Shares of Emerson Electric Co. (NYSE:EMR) rose over five percent on Wednesday, February 2, 2022, after announcing a better-than-expected profit for its fiscal first quarter. The Missouri-based company reported adjusted earnings of $1.05 per share, beating the consensus forecast of 99 cents per share.

In addition, Emerson Electric Co. (NYSE:EMR) posted revenue of $4.5 billion, up 8 percent on a year-over-year basis and in line with the expectations. Revenue from its automation solutions segment rose four percent, while commercial and residential solutions revenue jumped 13 percent in the quarter.

Emerson Electric Co. (NYSE:EMR) also updated the financial outlook for its FY 2022. It now expects adjusted earnings in the range of $4.90 – $5.05 per share and sales growth between 6 – 8 percent for the full year.

Speaking on the results, CEO Lal Karsanbhai said in a statement:

“Much like the rest of the industry, labor shortages, inflation and supply chain challenges remain a hurdle, but a strong focus on operational excellence and a steadfast commitment to our cost reset targets have proven valuable in offsetting these headwinds.”

9. IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Number of Hedge Fund Holders: 43

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) rose over four percent on Wednesday, February 2, 2022 after posting upbeat fourth-quarter results. The company earned $1.83 per share on an adjusted basis, up from $1.63 per share in the year-ago quarter.

Revenue came in at $801.1 million versus $720.9 million in the comparable period of 2020. Analysts were expecting IDEXX Laboratories, Inc. (NASDAQ:IDXX) to post earnings of $1.72 per share on revenue of $782 million.

Looking forward, IDEXX Laboratories, Inc. (NASDAQ:IDXX) expects earnings in the range of $9.27 – $9.59 per share and revenue between $3.5 billion – $3.57 billion for the current fiscal year.

Like IDEXX Laboratories, Inc. (NASDAQ:IDXX), investors are also closely watching Meta Platforms, Inc. (NASDAQ:FB), T-Mobile US, Inc. (NASDAQ:TMUS) and QUALCOMM Incorporated (NASDAQ:QCOM), following their earnings reports.

8. Roper Technologies, Inc. (NYSE:ROP)

Number of Hedge Fund Holders: 45

Shares of Roper Technologies, Inc. (NYSE:ROP) closed higher on Wednesday, February 2, 2022, after announcing its fourth-quarter profit and sales above expectations. The diversified technology company reported adjusted earnings of $3.73 per share, up from $3.27  in the year-ago period.

In addition, Roper Technologies, Inc. (NYSE:ROP) generated revenue of $1.51 billion for the quarter, compared to $1.34 billion in the fourth quarter of 2020. Analysts were looking for earnings of $3.67 per share on revenue of $1.5 billion.

The company also announced its earnings outlook for the first quarter and full year. Roper Technologies, Inc. (NYSE:ROP) expects adjusted earnings in the range of $3.63 – $3.67 per share for the first quarter and between $15.25 – $15.55 per share for the full year.

7. Boston Scientific Corporation (NYSE:BSX)

Number of Hedge Fund Holders: 47

Boston Scientific Corporation (NYSE:BSX) managed to beat expectations for the fourth quarter. However, its profit outlook for the first quarter and full-year was below estimates. As a result, its shares fell nearly five percent on Wednesday, February 2, 2022.

The manufacturer of medical devices reported adjusted earnings of 45 cents per share for Q4, just ahead of the consensus forecast of 44 cents per share. Revenue came in at $3.127 billion, while analysts were expecting Boston Scientific Corporation (NYSE:BSX) to generate revenue of $3.11 billion.

Boston Scientific Corporation (NYSE:BSX) also reported its segment-wise sales performance. Revenue from its MedSurg segment jumped 12.1 percent to $999 million, Rhythm & Neuro revenue rose 11.8 percent to $858 million and Cardiovascular revenue climbed 25.3 percent to $1.27 billion in the quarter.

Looking forward, Boston Scientific Corporation (NYSE:BSX) expects adjusted earnings in the range of 38 – 40 cents per share for Q1 and $1.73 – $1.79 per share for 2022. However, the outlook was below the consensus forecast of 41 cents per share for the first quarter and $1.87 per share for the full year.

Like Boston Scientific Corporation (NYSE:BSX), Meta Platforms, Inc. (NASDAQ:FB), T-Mobile US, Inc. (NASDAQ:TMUS) and QUALCOMM Incorporated (NASDAQ:QCOM) also caught investors’ attention after posting their quarterly results.

6. McKesson Corporation (NYSE:MCK)

Number of Hedge Fund Holders: 51

Shares of McKesson Corporation (NYSE:MCK) jumped to an all-time high in the after hours trading session on Wednesday, February 2, 2022, after delivering impressive financial results for its fiscal third quarter.

McKesson Corporation (NYSE:MCK) reported adjusted earnings of $6.15 per share, a significant increase from $4.60 per share in the year-ago quarter. Revenue for the quarter rose 10 percent versus last year to $68.6 billion. The results topped analysts’ average estimate of $5.42 per share for earnings and $66.49 billion for revenue.

If we look at the performance of its flagship business units, revenue from the U.S. pharmaceutical segment rose 11 percent to $55 billion, while revenue from the prescription technology solutions segment climbed 33 percent to $1 billion.

In comparison, revenue from the medical-surgical solutions segment inched up one percent to $3.1 billion, while the international segment revenue increased two percent to $9.5 billion in the quarter.

McKesson Corporation (NYSE:MCK) also lifted its 2022 adjusted profit outlook to a range of $23.55 – $23.95 per share from its previous forecast of $22.35 – $22.95 per share. The updated guidance represents year-over-year growth of 37 – 39 percent.

Discussing the results, CEO of McKesson Corporation (NYSE:MCK), Brian Tyler, said in a statement:

“Our dedicated team members delivered another quarter of strong financial results, demonstrating our continued focus on our strategic growth initiatives, company priorities, and value creation for all stakeholders.”

5. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 70

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) slightly moved down in the after-hours trading session on Wednesday, February 2, 2022, despite delivering solid financial results for its fiscal first quarter.

QUALCOMM Incorporated (NASDAQ:QCOM) reported adjusted earnings of $3.23 per share, up from $2.17 per share in the year-ago quarter. Total revenue came in at $10.71 billion, up 30 percent from the year-ago period. The results crushed analysts’ average estimate of $3.01 per share for earnings and $10.44 billion for revenue.

Looking forward, QUALCOMM Incorporated (NASDAQ:QCOM) expects adjusted earnings in the range of $2.80 – $3 per share and revenue between $10.2 – $11 billion for its fiscal second quarter. In comparison, analysts expect earnings of $2.51 per share on sales of $9.66 billion for the same period.

Speaking on the results, CEO of QUALCOMM Incorporated (NASDAQ:QCOM), Cristiano Amon, said in a statement:

“Our record quarterly results reflect the strong demand for our products and technologies, with QCT revenues exceeding those of any fabless semiconductor company. We are at the beginning of one of the largest opportunities in our history, with our addressable market expanding by more than seven times to approximately $700 billion in the next decade.”

4. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 81

Shares of AbbVie Inc. (NYSE:ABBV) hit a new 52-week high of $139.41 on Wednesday, February 2, 2022, after delivering a better-than-expected profit for the fourth quarter. The biopharmaceutical company earned $3.31 per share on an adjusted basis, beating expectations of $3.28 per share.

In addition, AbbVie Inc. (NYSE:ABBV) posted revenue of $14.886 billion, up 7.4 percent on a year-over-year basis. However, it marginally missed analysts’ average estimate of $14.9 billion. Revenue from its flagship medicine Humira rose 3.5 percent versus last year to $5.334 billion.

AbbVie Inc. (NYSE:ABBV) also issued its profit outlook for 2022. The company expects adjusted earnings in the range of $14.00 to $14.20 for the full year.

Discussing the results, CEO Richard Gonzalez said:

“We are entering 2022 with significant momentum and expect our diverse set of growth assets, robust pipeline and excellent execution to deliver continued strong performance this year and over the long term.”

3. T-Mobile US, Inc. (NASDAQ:TMUS)

Number of Hedge Fund Holders: 89

Shares of T-Mobile US, Inc. (NASDAQ:TMUS) hit a nearly one-month high in the pre-market trading session on Thursday, February 3, 2022, after posting its fourth-quarter profit above expectations.

T-Mobile US, Inc. (NASDAQ:TMUS) reported earnings of 34 cents per share, compared to 60 cents per share in the year-ago period. Revenue came in at $20.79 billion, up from $20.34 billion in the comparable period of 2020. Analysts were looking for earnings of 13 cents per share on revenue of $21.08 billion.

Among other updates, T-Mobile US, Inc. (NASDAQ:TMUS) reported that it added 5.5 million postpaid net customers in 2021. Looking forward, the company expects postpaid net customer additions in the range of 5 – 5.5 million for 2022.

CEO Mike Sievert praised the latest quarterly performance. He said in a statement:

“T-Mobile had our strongest year ever. We didn’t just meet the bold goals we set for 2021 around customer growth, profitability, merger synergies and network buildout – we crushed all of them.”

2. Thermo Fisher Scientific Inc. (NYSE:TMO)

Number of Hedge Fund Holders: 94

Thermo Fisher Scientific Inc. (NYSE:TMO) manufactures and supplies a range of products primarily for the healthcare industry. Those products range from scientific instruments and reagents to consumables and software services.

Shares of Thermo Fisher Scientific Inc. (NYSE:TMO) closed higher on Wednesday, February 2, 2022, after announcing better-than-expected profit and sales for the fourth quarter. The Massachusetts-based company earned $6.54 per share on an adjusted basis, down from $7.09 per share in the year-ago period.

Revenue for the quarter came in at $10.7 billion versus $10.55 billion for the fourth quarter of 2020. Analysts were expecting Thermo Fisher Scientific Inc. (NYSE:TMO) to earn $4.93 per share on revenue of $8.71 billion.

Discussing the results, CEO Marc Casper said:

“We had an outstanding 2021, as we continued to execute our proven growth strategy, powered by our PPI Business System, and operated with speed at scale to help our customers and governments around the world advance their important work.”

1. Meta Platforms, Inc. (NASDAQ:FB)

Number of Hedge Fund Holders: 248

Meta Platforms, Inc. (NASDAQ:FB) has mostly managed to surprise investors with its solid quarterly numbers in recent years. However, the social network giant’s latest financial results have left many in shock.

The company missed its fourth-quarter profit expectations with a big margin. In addition, daily active users at its flagship app Facebook declined to 1.929 billion in the fourth quarter, from 1.930 billion in the prior quarter.

As a result, shares of Meta Platforms, Inc. (NASDAQ:FB) plummeted more than 23 percent in the early trading Thursday, February 3, 2022. Moreover, its market value has also dropped down to about $687 billion.

Meta Platforms, Inc. (NASDAQ:FB) reported earnings of $3.67 per share for the fourth quarter, missing expectations of $3.84 per share. However, the quarterly revenue of $33.67 billion came in above analysts’ average estimate of $33.40 billion.

In addition, Meta Platforms, Inc. (NASDAQ:FB) issued a weak sales outlook for the first quarter, citing Apple’s recent privacy changes and intense competition from rivals. It expects revenue in the range of $27 billion – $29 billion for the current quarter, translating to a year-over-year surge between 3 – 11 percent. However, the outlook is below analysts’ average estimate of $30.15 billion.

You can also take a peek at 10 Notable Earnings Reports to Watch and Top 10 Stock Picks of Thomas Bancroft’s Makaira Partners.

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Disclosure: None. 10 Stocks Making Big Moves on Financial Results is originally published on Insider Monkey.