10 Stocks Making Noise After Releasing Their Earnings Reports

In this article, we will take a look at the 10 stocks making noise after releasing their earnings reports.

Some of the most valuable U.S. stocks, including Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), and Visa Inc. (NYSE:V), recently released their quarterly financial reports.

Shares of Microsoft Corporation (NASDAQ:MSFT) and Alphabet Inc. (NASDAQ:GOOG) gained value after delivering solid performance. However, Visa Inc. (NYSE:V) shares fell despite beating expectations. In addition, stocks like Twitter, Inc. (NYSE:TWTR), Eli Lilly and Company (NYSE:LLY), and Texas Instruments Incorporated (NASDAQ:TXN) are also trending after announcing their financial results.

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We will explore the detailed results of these companies in the remaining article.

10 Stocks Making Noise After Releasing Their Earnings Reports

10. Waste Management, Inc. (NYSE:WM)

Number of Hedge Fund Holders: 39

Shares of Waste Management, Inc. (NYSE:WM) slipped just over one percent on Tuesday, 26 October 2021, after the company posted mixed financial results for the third quarter. The company reported adjusted earnings of $1.26 per share, up from $1.09 per share in the comparable period of 2020.

Revenue came in at $4.7 billion, compared to $3.9 billion in the same period last year. Analysts were expecting Waste Management, Inc. (NYSE:WM) to report earnings of $1.35 per share on revenue of $4.5 billion.

Waste Management, Inc. (NYSE:WM) also updated its revenue outlook for 2021. It expects revenue growth in the range of 17 – 17.5 percent for the full year, up from its previous growth forecast between 15.5 – 16 percent.

9. Corning Incorporated (NYSE:GLW)

Number of Hedge Fund Holders: 42

Shares of Corning Incorporated (NYSE:GLW) turned red on Tuesday, 26 October 2021, after its third-quarter adjusted profit missed expectations. The New York-based glassmaker blamed the global chip shortage for the weak results.

The company earned 56 cents per share on an adjusted basis, slightly below the consensus forecast of 58 cents per share. Revenue came in at $3.62 billion, almost in line with analysts’ average estimate of $3.632 billion. Corning Incorporated (NYSE:GLW) had posted adjusted earnings of 43 cents per share on revenue of $3 billion for the comparable period of 2020.

If we look at the performance of its flagship businesses, revenue from the optical communications segment jumped 24 percent on a year-over-year basis to $1.13 billion. In comparison, revenue from the display technologies segment rose 16 percent to $956 million in the quarter.

Corning Incorporated (NYSE:GLW) also released its financial outlook for the fourth quarter. It expects adjusted earnings in the range of 50 cents per share – 55 cents per share and revenue between $3.5 billion and $3.7 billion.

8. Ecolab Inc. (NYSE:ECL)

Number of Hedge Fund Holders: 48

Shares of Ecolab Inc. (NYSE:ECL) hit their highest price in more than a year after the company posted impressive results for the third quarter. The company reported adjusted earnings of $1.38 per share, up from $1.15 per share in the same period last year.

Analysts were looking for earnings of $1.30 a share. In addition, Ecolab Inc. (NYSE:ECL)  posted revenue of $3.32 billion, up 10 percent on a year-over-year basis and ahead of the consensus forecast of $3.27 billion.

Speaking on the results, CEO Christophe Beck said in a statement:

“The strong third quarter results were better than expected, driven by continued accelerating pricing, new business gains and new product sales, as we also successfully managed to significantly reduce the unfavorable impacts from Hurricane Ida on both our customers and supply chain.”

Like Ecolab Inc. (NYSE:ECL), investors are also closing watching Eli Lilly and Company (NYSE:LLY), Twitter, Inc. (NYSE:TWTR), Alphabet Inc. (NASDAQ:GOOG), Visa Inc. (NYSE:V), and Microsoft Corporation (NASDAQ:MSFT) after their earnings reports.

7. Texas Instruments Incorporated (NASDAQ:TXN)

Number of Hedge Fund Holders: 50

Shares of Texas Instruments Incorporated (NASDAQ:TXN) fell more than five percent in the pre-market trading session on Wednesday, 27 October 2021, after the company posted lower-than-expected revenue for the fourth quarter.

Texas Instruments Incorporated (NASDAQ:TXN) generated revenue of $4.64 billion in the quarter, up from $3.82 billion in the comparable period of 2020. However, it was slightly shy of $4.66 billion estimated by analysts.

On the bright side, earnings of $2.07 per share for the quarter surpassed the consensus forecast of $2.05 per share. The company had reported earnings of $1.45 per share for the same period last year.

Texas Instruments Incorporated (NASDAQ:TXN) also issued its financial outlook for the fourth quarter. It expects earnings in the range of $1.83 – $2.07 per share and revenue between on $4.22 billion – $4.58 billion. The guidance aligns with analysts’ average estimate of $1.93 per share for earnings and $4.45 billion for revenue.

Like Texas Instruments Incorporated (NASDAQ:TXN), Eli Lilly and Company (NYSE:LLY), Twitter, Inc. (NYSE:TWTR), Alphabet Inc. (NASDAQ:GOOG), Visa Inc. (NYSE:V), and Microsoft Corporation (NASDAQ:MSFT) also came into the limelight after announcing their financial results.

6. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 58

Shares of Lockheed Martin Corporation (NYSE:LMT) plummeted more than 11 percent on Tuesday, 26 October 2021, hitting a nearly eight-month low, after the company posted weak sales for the third quarter and slashing its outlook.

The global security and aerospace company earned $2.21 per share in the quarter, representing a sharp decline from earnings of $6.25 per share in the same period last year. Analysts were expecting Lockheed Martin Corporation (NYSE:LMT) to report earnings of $1.97 per share.

Revenue for the quarter also slipped 2.8 percent on a year-over-year basis to $16.03 billion, missing the consensus forecast of $17.1 billion. If we see the performance of key business units, revenue from the aeronautic segment slid two percent on a year-over-year basis, whereas revenue from the missiles and fire control segment fell six percent. In comparison, revenue from the space segment decreased five percent versus the same period last year.

Lockheed Martin Corporation (NYSE:LMT) also updated its financial outlook for 2021. It now expects adjusted earnings of about $27.17 per share, up from its previous forecast in the range of $26.70 per share to $27 per share. In addition, revenue for the full year is now expected to come in at $67 billion, down from its earlier guidance between $67.3 billion and $68.7 billion.

Discussing the results, CEO James Taiclet said in a statement:

“We are adjusting our capital allocation strategy with two major objectives. First, to expand further our robust reinvestment in the company to serve our customers’ evolving needs through capital projects and independent research and development for mid- to long-term enhanced growth performance.”

5. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Holders: 64

Eli Lilly and Company (NYSE:LLY) recently announced mixed financial results for the third quarter. The Indiana-based pharmaceutical giant reported adjusted earnings of $1.94 per share, up from $1.41 per share in the comparable period of 2020.

Revenue for the quarter jumped 18 percent on a year-over-year basis to $6.773 billion. Analysts were expecting Eli Lilly and Company (NYSE:LLY) to report earnings of $1.96 per share on revenue of $6.639 billion.

On the bright side, Eli Lilly and Company (NYSE:LLY) raised its financial outlook for the full year citing higher demand for its products against coronavirus. It now expects adjusted earnings in the range of $7.95 to $8.05 per share versus its previous forecast between $7.80 – $8 per share.

In addition, revenue for 2021 is expected to come between 27.2 – $27.6 billion versus its earlier outlook of $26.8 – $27.4 billion. The updated forecast sent shares of Eli Lilly and Company (NYSE:LLY) up more than one percent on Tuesday, 26 October 2021.

Speaking on the results, CEO David A. Ricks said:

“Lilly demonstrated strong performance again this quarter. Revenue attributable to our newer medicines grew more than 35 percent and represented nearly 60 percent of our core business, an important indicator of our long-term growth potential.”

4. Twitter, Inc. (NYSE:TWTR)

Number of Hedge Fund Holders: 64

Shares of Twitter, Inc. (NYSE:TWTR) moved slightly down in the pre-market trading session on Wednesday, 27 October 2021, after the company announced weak financial results for the third quarter. The San Francisco-based microblogging site reported an adjusted loss of 54 cents per share, compared to earnings of 19 cents per share in the year-ago quarter.

Revenue came in at $1.28 billion, up from $936 million in the same period last year. Advertising revenue in the quarter climbed 41 percent on a year-over-year basis to $1.14 billion. Analysts were looking for a profit of 17 cents per share on revenue of $1.28 billion.

Looking forward, Twitter, Inc. (NYSE:TWTR) expects revenue in the range of $1.5 billion to $1.6 billion for the fourth quarter, compared to the consensus forecast of $1.59 billion.

Discussing the results, CEO Jack Dorsey said:

“I am proud of our third quarter results. We’re improving personalization, facilitating conversation, delivering relevant news, and finding new ways to help people get paid on Twitter. Average monetizable DAU (mDAU) reached 211 million, up 13% year over year in Q3, accelerating from 11% year over year growth in Q2, driven by ongoing product improvements and global conversation around current events.”

3. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 155

Alphabet Inc. (NASDAQ:GOOG) recently caught investors’ attention after delivering another solid quarter. The tech giant reported massive earnings of $27.99 per share for the three months ended 30 September 2021, crushing the consensus forecast of $23.470 per share.

Revenue came in at $65.1 billion, ahead of analysts’ average estimate of $63.450 billion. Alphabet Inc. (NASDAQ:GOOG) had posted earnings of $16.40 per share on revenue of $46.2 billion for the comparable period of 2020.

If we see the performance of flagship businesses, Google’s total advertisement revenue climbed 43 percent on a year-over-year basis to $53.1 billion. Advertisement revenue from YouTube came in at $7.2 billion, up from $5 billion in the year-ago quarter, while Search revenue in the quarter increased to $37.9 billion versus $26.3 billion last year. In comparison, Cloud revenue soared 47 percent on a year-over-year basis to $5 billion.

Commenting on the results, CEO Sundar Pichai said:

“This quarter’s results show how our investments there are enabling us to build more helpful products for people and our partners. Ongoing improvements to Search, and the new Pixel 6, are great examples. And as the digital transformation and shift to hybrid work continue, our Cloud services are helping organizations collaborate and stay secure.”

2. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 162

Shares of Visa Inc. (NYSE:V) fell nearly three percent in the pre-market trading session on Wednesday, 27 October 2021, despite the company beating expectations for its fiscal fourth quarter. The digital payments giant earned $1.62 per share in the quarter, up from $1.12 per share in the same period of 2020.

Revenue for the quarter rose 29 percent on a year-over-year basis to $6.6 billion. Analysts were expecting Visa Inc. (NYSE:V) to post earnings of $1.55 per share on revenue of $6.5 billion. The company attributed the latest performance to recovery in several countries and sales boost from value-added services.

CEO Alfred Kelly expressed his satisfaction with the results. Kelly said in a statement:

“In a relatively tumultuous fiscal 2021, Visa delivered strong fourth quarter and full-year results, with double-digit net revenue, net income and EPS growth.”

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 238

Shares of Microsoft Corporation (NASDAQ:MSFT) hit an all-time high of $318.75 in the morning trading session on Wednesday, 27 October 2021, after the company beat expectations for its fiscal first quarter.

The software maker reported adjusted earnings of $2.71 per share, significantly higher than $1.82 per share in the year-ago quarter. Analysts were expecting Microsoft Corporation (NASDAQ:MSFT) to report earnings of $2.08 per share.

Revenue for the quarter jumped 22 percent to $45.3 billion, easily surpassing analysts’ average estimate of $44 billion. If we break down the total revenue by segments, revenue from the productivity and business processes segment jumped 22 percent to $15 billion, while revenue from the intelligent cloud unit climbed 31 percent to $17 billion in the quarter. In comparison, revenue from the personal computing segments rose 12 percent to $13.3 billion.

Speaking on the results, CEO Satya Nadella said:

“Digital technology is a deflationary force in an inflationary economy. Businesses – small and large – can improve productivity and the affordability of their products and services by building tech intensity. The Microsoft Cloud delivers the end-to-end platforms and tools organizations need to navigate this time of transition and change.”

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Disclosure: None. 10 Stocks Making Noise After Releasing Their Earnings Reports is originally published on Insider Monkey.