5 Stocks Moving on Quarterly Reports

4. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders: 61

Shares of Costco Wholesale Corporation (NASDAQ:COST) turned red in the pre-market trading session on Friday, May 27, 2022, despite announcing better-than-expected financial results for its fiscal third quarter.

Costco Wholesale Corporation (NASDAQ:COST) reported earnings of $3.04 per share, compared to $2.75 per share in the year-ago period. Revenue for the quarter increased to $52.6 billion, from $45.3 billion in the same period last year. Analysts were looking for earnings of $3.03 per share on revenue of $51.76 billion.

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Among other updates, Costco Wholesale Corporation (NASDAQ:COST) confirmed that it has no plans to increase the price of its famous hot dog and soda combo deal, currently selling at $1.50. The company’s clarification came in response to rumors circulating on various social networks that it might increase the price of its hot dog and soda combo due to inflationary pressure.