It’s the middle of earnings season and many investors are hungrily dissecting earnings reports and management commentary to get a better view on earnings outlooks for the future. Among the stocks that have recently reported their financial results are Sony Corp (ADR) (NYSE:SNE), Bristol-Myers Squibb Co (NYSE:BMY), Mastercard Inc (NYSE:MA), United Parcel Service, Inc. (NYSE:UPS), and Celgene Corporation (NASDAQ:CELG). Let’s take a closer look at how each company did in their latest financial quarters and also check how hedge funds are positioned in each stock.
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Sony Corp Higher On Earnings
Sony Corp (ADR) (NYSE:SNE)’s stock is modestly higher after the company reported its results for the fourth quarter and full fiscal 2015 ended March 31. The company posted a full-year revenue of 8.1 trillion yen ($71.7 billion), down by 1.3%, while its operating profit surged to 294.2 billion yen Of the around 786 funds we track, 20 funds owned $342.41 million worth of Sony Corp (ADR) (NYSE:SNE)’s shares, which accounted for 1.10% of the float on December 31, versus 21 funds and $328.36 million, respectively, on September 30.
Bristol-Myers Squibb Turns In Excellent Quarter
Bristol-Myers Squibb Co (NYSE:BMY)’s shares have gained around 2% after the drug giant reported earnings of $0.74 per share on sales of $4.39 billion, versus estimates of $0.65 and $4.25 billion, respectively. Revenue rose 8.7% year-over-year mainly on the back of Bristol-Myers Squibb’s Opdivo, Eliquis, and Hep C franchises. In addition, the company raised its full-year EPS guidance to between $2.37 and $2.47 from the previous $2.30 – $2.40 range, and adjusted full-year EPS guidance to between $2.50 and $2.60 from the previous $2.30-$2.40, and expects 2016 revenue to grow by the low double-digit percentages. The number of funds from our database bullish on Bristol-Myers Squibb Co (NYSE:BMY) fell by three quarter-over-quarter to 59 at the end of December.
On the next page, we examine Mastercard Inc, United Parcel Service Inc, and Celgene Corporation.
Mastercard Beats Consensus Estimates
Mastercard Inc (NYSE:MA) earned $0.86 per share on sales of $2.45 billion for its first quarter, beating the estimates by $0.01 per share and $70 million, respectively. Sales rose by 9.9% on the year, led by a quarterly gross dollar volume growth of 13% to $1.1 trillion in local currency. The number of processed transactions came in 14% higher over the year at 12.6 billion, while Mastercard’s operating margin stood at 55.1%. Warren Buffett’s Berkshire Hathaway was among the 80 funds tracked by Insider Monkey that owned shares of Mastercard Inc (NYSE:MA) at the end of 2015.
UPS Reports a Mixed Quarter
United Parcel Service, Inc. (NYSE:UPS)’s stock has inched down on the back of mixed first-quarter results. Although the company’s EPS of $1.27 beat earnings estimates by $0.05, the logistics company’s sales missed the top-line consensus estimates by $150 million by reporting revenue of $14.42 billion, up by 3.2% on the year, as changes in fuel costs and the strong dollar weighed on growth. Free cash flow for the three months ended March 31 stood at $2.2 billion and United Parcel Service reaffirmed its full-year EPS guidance of $5.70 to $5.90. The number of funds from our database long United Parcel Service, Inc. (NYSE:UPS) fell by four sequentially to 36 that disclosed stakes as of the end of 2015.
Celgene Lower After Missing the Top Line
Celgene Corporation (NASDAQ:CELG)’s shares are slightly higher following the company reporting first-quarter earnings of $1.32 per share on sales of $2.51 billion. Although Celgene’s bottom-line number beat estimates by $0.04, the company’s top-line missed the expectations by $70 million. Full-year guidance includes net product sales of $10.75 billion to $11 billion, up from the previous range of $10.5 billion – $11 billion, GAAP EPS between $4.26 and $4.56 (versus the previous $4.26 – $4.64 range) and adjusted EPS of $5.60 to $5.70% (versus the previous guidance of $5.50 to $5.70). A total of 64 funds that we track amassed 2.4% of Celgene Corporation (NASDAQ:CELG)’s heading into 2016.