Latest Earnings Reports Got Investors Talking about These Stocks

The latest round of earnings releases has given a boost to US futures, pointing to a higher open today, with investors also awaiting the release of manufacturing PMI data. In this article we’ll take a look at five companies that released quarterly results on Thursday.

Particularly, we’ll take a look at Southwestern Energy Company (NYSE:SWN), Skechers USA Inc (NYSE:SKX), Flextronics International Ltd. (NASDAQ:FLEX), and Advanced Micro Devices, Inc. (NASDAQ:AMD).

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Utilities On The Rebound?

Southwestern Energy Company (NYSE:SWN) posted another quarterly loss, albeit a narrower one, as the company’s struggles continue amid a pricing downturn. For the three months ended June 30, the oil and gas company posted a net loss of $620 million or $0.09 per share when adjusted for asset impairment and non-recurring costs, topping analysts’ consensus of a loss of $0.11 per share. Revenue came in $522 million, marginally lower than analysts’ estimates of $524.5 million. Hedge fund interest in Southwestern Energy Company (NYSE:SWN) cooled down a bit during the first quarter, with the number of long positions, among the funds we track, having fallen to 28 at the end of March, from 32 at the end of December. Together, these funds held roughly 21% of the company’s common stock.

Starbucks Posts Record Earnings

Posting record revenue and earnings have not helped Starbucks Corporation (NASDAQ:SBUX) and the stock opened slightly in the red. Fiscal third-quarter revenue rose by 7% year-over-year to $5.2 billion, but missed analysts’ projections of $5.3 billion. Starbucks Corporation (NASDAQ:SBUX) posted adjusted earnings of $0.49 per share, which was in line with the consensus among analysts. “As we enter Q4 and approach fiscal 2017, we have clear line of sight to returning our U.S. business to historic levels of comp sales growth which had been at or above 5% for the 25 consecutive quarters prior to Q3,” commented Howard Schultz, CEO of Starbucks. Among the investors in our database, the sentiment towards Starbucks Corporation (NASDAQ:SBUX) took a turn for the worse in the first quarter, as the number of long bets dropped to 52 from 61 registered at the end of the previous quarter.

Turn the page to how one footwear and two semiconductor companies have fared during the latest quarter.

Skechers Misses Estimates

A global leader in footwear, Skechers USA Inc (NYSE:SKX) posted second-quarter results yesterday after the closing bell, missing analysts’ estimates and sending the stock tumbling. The company posted $877 million in revenue, up by 9.6% year-over-year, and $0.48 in earnings per share. Investors, on the other hand, were expecting $0.52 per share on revenue of $886.8 million. “The growth in the quarter was primarily attributable to a 34.6% increase in our international subsidiary and joint venture businesses and a 40.5% increase in our international company-owned Skechers retail stores,” said David Weinberg, Skechers COO and CFO. The popularity of Skechers USA Inc (NYSE:SKX) among the hedge funds followed by Insider Monkey registered a boost during the first three months of 2016, with 32 of them having reported a position at the end of March, amassing 10% of the company’s common stock.

Semiconductors In Spotlight

Flextronics International Ltd. (NASDAQ:FLEX) stock is also under pressure this morning, despite fiscal first quarter results that largely met analysts’ estimates. The company earned $0.27 per share when adjusted for one-time gains and costs, in line with expectations, while revenue of $5.88 billion topped Wall Street’s forecasts of $5.71 billion. Flextronics International Ltd. (NASDAQ:FLEX) also said it expects second quarter revenues in the range of $5.8 billion to $6.2 billion and earnings of $0.26 to $0.30 per share. This is set to put a dent in the stock’s performance, having advanced by 19% so far this year. At the end of March, roughly 17% of Flextronics International Ltd. (NASDAQ:FLEX) outstanding stock was held by 25 investors tracked by us, down from 26 a quarter earlier.

Light At The End Of The Tunnel

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) are up by nearly 10% so far today after the microchip manufacturer reported its second quarter results. The company registered a 9% increase in revenue to $1.03 billion and posted an adjusted loss of $0.05 per share, surpassing expectations of $951.3 million in revenue and a loss of $0.08 per share. Advanced Micro Devices, Inc. (NASDAQ:AMD) has been struggling amid a shrinking personal computer market and has been shifting towards other segments after posting four straight years of losses. The company has increased its collaboration with game console manufacturers, supplying them with customized graphics chips. In general, Advanced Micro Devices, Inc. (NASDAQ:AMD) is not a very popular stock among the funds tracked by Insider Monkey, with only 13 of them having reported a long position as of the end of March, down from 16 registered at the end of December.

Disclosure: None