5 Stocks Making Big Moves on Financial Results

In this article, we discuss the 5 stocks making big moves on financial results. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks Making Big Moves on Financial Results.

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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