In this article, we discuss the top 5 gainers on Friday. If you want to see some more companies on the list, go directly to Top 10 Gainers on Friday.
5. NextEra Energy, Inc. (NYSE:NEE)
Number of Hedge Fund Holders: 59
Shares of NextEra Energy, Inc. (NYSE:NEE) rose nearly four percent this morning after the wind and solar energy producer surpassed financial expectations for Q3 amid strong demand and elevated power prices.
NextEra Energy, Inc. (NYSE:NEE) earned 85 cents per share on an adjusted basis, beating estimates of 79 cents per share. The quarterly revenue of $6.72 billion was also well ahead of analysts’ average estimate of $5.74 billion.
Discussing the results, CEO of NextEra Energy, Inc. (NYSE:NEE), John Ketchum, said in a statement:
“NextEra Energy delivered strong third-quarter results and is well positioned to achieve our overall objectives for 2022. Adjusted earnings per share increased by approximately 13% year-over-year, reflecting continued strong performance at both FPL and NextEra Energy Resources.”
4. Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders: 65
Shares of Intel Corporation (NASDAQ:INTC) turned green in pre-market trading Friday after the chip giant announced better-than-expected Q3 results and laid out an aggressive cost-cutting strategy for the coming years.
Intel Corporation (NASDAQ:INTC) reported adjusted earnings of 59 cents per share, easily topping estimates of 32 cents. Revenue for the quarter came in at $15.34 billion, ahead of the consensus of $15.25 billion.
Moving forward, Intel Corporation (NASDAQ:INTC) intends to reduce its costs by $3 billion in 2023. Moreover, it plans to achieve $8 – $10 billion in annual savings by the end of 2025.
On the downside, Intel Corporation (NASDAQ:INTC) trimmed its full-year adjusted earnings outlook to $1.95 per share, down from its previous forecast of $2.30 per share. Analysts had projected earnings of $2.15 per share for the same period.
Speaking on the results, CEO Pat Gelsinger said in a statement:
“Despite the worsening economic conditions, we delivered solid results and made significant progress with our product and process execution during the quarter. To position ourselves for this business cycle, we are aggressively addressing costs and driving efficiencies across the business to accelerate our IDM 2.0 flywheel for the digital future.”
3. Exxon Mobil Corporation (NYSE:XOM)
Number of Hedge Fund Holders: 72
Shares of Exxon Mobil Corporation (NYSE:XOM) climbed to a new 52-week high this morning after posting record profit and sales for the third quarter. The oil giant earned $4.45 per share on an adjusted basis, significantly higher than $1.58 per share in the year-ago period.
In addition, Exxon Mobil Corporation (NYSE:XOM) posted revenue of $112 billion, representing a surge of more than 50 percent over the comparable period of 2021. The results crushed the expectations of $3.79 per share for earnings and $115.60 billion for revenue.
Energy companies, including Exxon Mobil Corporation (NYSE:XOM), have capitalized on soaring energy prices following the Russia-Ukraine war. Exxon stock has already skyrocketed more than 70 percent on a year-to-date basis.
2. T-Mobile US, Inc. (NASDAQ:TMUS)
Number of Hedge Fund Holders: 96
Shares of T-Mobile US, Inc. (NASDAQ:TMUS) rose more than six percent in mid-day trading Friday after beating profit expectations for the third quarter and lifting the subscriber growth outlook for the full year.
T-Mobile US, Inc. (NASDAQ:TMUS) reported earnings of 40 cents per share, smashing the consensus of 30 cents per share. Revenue for the quarter inched down 1 percent versus last year to $19.5 billion, marginally below expectations of $20 billion.
On the bright side, the telecommunications giant added 1.6 million postpaid subscribers during the quarter, beating analysts’ average estimate of 1.5 million additions.
For the full year, T-Mobile US, Inc. (NASDAQ:TMUS) now expects to add postpaid subscribers in the range of 6.2 – 6.4 million, compared to its previous projection between 6 – 6.3 million additions.
1. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 128
Apple Inc. (NASDAQ:AAPL) managed to surpass profit and sales expectations for its fiscal first quarter, sending its shares up more than 3 percent after the opening bell on Friday. The smartphone giant’s earnings rose 4 percent on a year-over-year basis to $1.29 per share, ahead of the consensus of $1.27 per share.
Moreover, revenue for the quarter jumped 8.1 percent versus last year to $90.15 billion, above the expectations of $88.90 billion. iPhone revenue increased to $42.6 billion, slightly below the estimates of $43.21 billion.
Apple Inc. (NASDAQ:AAPL) also released sales results of other notable segments. iPad revenue fell 13 percent to $7.2 billion, while Mac revenue jumped 25 percent to $11.5 billion in the quarter. In comparison, services revenue rose 5 percent to $19.2 billion. Analysts were looking for iPad revenue of $7.8 billion, Mac revenue of $9.3 billion and services revenue of $20.1 billion.
Among other updates, the company reported gross margin of 42.3 percent, against the consensus of 42.1 percent. Looking forward, Apple Inc. (NASDAQ:AAPL) projected gross margin of 42.5 – 43.5 percent for the current quarter.
You can also take a peek at 10 Best Cybersecurity Stocks To Buy Under $20 and 12 Best Consumer Staple Stocks.
