In this article, we will take a look at the 10 companies that are gaining value today. If you want to see some more companies trading higher in the current trading session, go directly to Top 5 Gainers Today.
Most stocks are rallying today after posting financial results for the second quarter. General Electric Company (NYSE:GE), 3M Company (NYSE:MMM) and Fiserv, Inc. (NASDAQ:FISV) were among the notable companies that rose on Tuesday morning after posting their quarterly reports.
In addition, stocks including beverage giant The Coca-Cola Company (NYSE:KO) and tech firm F5, Inc. (NASDAQ:FFIV), were also spotted moving higher this morning following their earnings reports.
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10. PGT Innovations, Inc. (NYSE:PGTI)
Number of Hedge Fund Holders: 27
Shares of PGT Innovations, Inc. (NYSE:PGTI) rose to a nearly four-month high today after the Florida-based manufacturer of premium windows and doors delivered solid financial results for the second quarter.
PGT Innovations, Inc. (NYSE:PGTI) earned 67 cents per share on an adjusted basis, a sharp surge from 18 cents per share in the year-ago period. Revenue also climbed 42 percent on a year-over-year basis to $407 million. Analysts were expecting PGT Innovations, Inc. (NYSE:PGTI) to report earnings of 45 cents per share on revenue of $365.21 million.
The company also updated its sales outlook for the full year. PGT Innovations, Inc. (NYSE:PGTI) now expects revenue in the range of $1.450 – $1.525 billion for the fiscal year 2022.
9. Hubbell Incorporated (NYSE:HUBB)
Number of Hedge Fund Holders: 27
Hubbell Incorporated (NYSE:HUBB) just announced better-than-expected profit and sales for the second quarter, sending its shares up nearly four percent in the pre-market trading session today.
The electrical products maker reported adjusted earnings of $2.81 per share, up from $2.22 per share in the year-ago quarter. In addition, Hubbell Incorporated (NYSE:HUBB) posted revenue of $1.256 billion, representing a surge of 19 percent over the second quarter of 2021. The results surpassed the consensus of $2.41 per share for earnings and $1.20 billion for revenue.
Hubbell Incorporated (NYSE:HUBB) also released its segment-wise sales results. Revenue from its electrical solutions business rose 13 percent to $528 million, while utility solutions revenue climbed 24 percent to $729 million in the quarter.
8. F5, Inc. (NASDAQ:FFIV)
Number of Hedge Fund Holders: 29
Shares of F5, Inc. (NASDAQ:FFIV) jumped nearly eight percent in the pre-market trading session on Tuesday, July 26, after the Seattle-based tech firm beat expectations for its fiscal third quarter.
F5, Inc. (NASDAQ:FFIV) reported adjusted earnings of $2.57 per share on revenue of $674 million. On the other hand, analysts were looking for earnings of $2.24 per share on sales of $667.49 million.
F5, Inc. (NASDAQ:FFIV) attributed the latest performance to solid demand for its products. Looking forward, F5, Inc. (NASDAQ:FFIV) expects adjusted earnings in the range of $2.45 – $2.57 per share for the current quarter, above the consensus of $2.28 per share.
7. Range Resources Corporation (NYSE:RRC)
Number of Hedge Fund Holders: 36
Range Resources Corporation (NYSE:RRC) just surpassed profit and sales expectations for the second quarter, sending its shares up more than four percent in the pre-market trading session on Tuesday, July 26, 2022.
Range Resources Corporation (NYSE:RRC) benefitted from the higher demand for natural gas during the quarter. The company reported adjusted earnings of $1.27 per share on adjusted sales of $1.06 billion. Analysts were expecting Range Resources Corporation (NYSE:RRC) to earn $1.24 per share on revenue of $935.36 million.
Like Range Resources Corporation (NYSE:RRC), General Electric Company (NYSE:GE), 3M Company (NYSE:MMM) and Fiserv, Inc. (NASDAQ:FISV), also rose today after releasing their financial results.
6. Archer-Daniels-Midland Company (NYSE:ADM)
Number of Hedge Fund Holders: 42
Archer-Daniels-Midland Company (NYSE:ADM) just delivered solid profit and sales for the second quarter, as the agricultural company capitalized on the higher demand for grains during the quarter. The strong performance sent Archer-Daniels-Midland shares up nearly 5 percent this morning.
For the second quarter, Archer-Daniels-Midland Company (NYSE:ADM) reported adjusted earnings of $2.15 per share, well above $1.33 per share in the year-ago period. Revenue increased to $27.3 billion, from $22.9 billion in the comparable quarter of 2021. The results easily exceeded the consensus of $1.71 per share for earnings and $25.16 billion for revenue.
Earlier this year, investment management firm Diamond Hill Capital also mentioned Archer-Daniels-Midland Company (NYSE:ADM) in its first-quarter 2022 investor letter, stating:
“ADM is a leading agricultural processor that also operates a global nutrition business focused on the development of ingredients and flavors for food and beverages, supplements and more. The company’s recent operating results have benefited (unfortunately) from the war in Ukraine as grain prices and agricultural markets globally experienced strong price increases. ADM is positioned well to benefit from the volatility due to its stable North American agricultural base.”
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Disclosure: None. Top 10 Gainers Today is originally published on Insider Monkey.
