In this article, we will take a look at the 10 stocks drawing attention on earnings reports. You can skip our detailed analysis of these companies and go directly to the 5 Stocks Drawing Attention on Earnings Reports.
Some of the most valuable companies, including Alphabet Inc. (NASDAQ:GOOG), Advanced Micro Devices, Inc. (NASDAQ:AMD), PayPal Holdings, Inc. (NASDAQ:PYPL) and Starbucks Corporation (NASDAQ:SBUX), recently posted their financial results for the December quarter.
Shares of Alphabet and Advanced Micro Devices climbed on Wednesday, January 2, following their upbeat quarterly performance. On the other hand, shares of both PayPal and Starbucks turned red after missing profit expectations.
In addition, several other companies, including Electronic Arts Inc. (NASDAQ:EA), Gilead Sciences, Inc. (NASDAQ:GILD) and Match Group, Inc. (NASDAQ:MTCH), were seen trading on heavy volume following their earnings reports.
Now, let’s review the detailed financial performance of these companies.
Stocks Drawing Attention on Earnings Reports
10. Entegris, Inc. (NASDAQ:ENTG)
Number of Hedge Fund Holders: 26
Shares of Entegris, Inc. (NASDAQ:ENTG) rose over seven percent on Tuesday, February 1, 2022, after announcing better-than-expected financial results for the fourth quarter. The company earned 96 cents per share on an adjusted basis, up from 71 cents per share in the year-ago quarter.
Revenue for the quarter also jumped 23 percent on a year-over-year basis to $635.2 million. Analysts were expecting Entegris, Inc. (NASDAQ:ENTG) to earn 89 cents per share on revenue of $593 million.
Entegris, Inc. (NASDAQ:ENTG) also reported its segment-wise sales performance. Revenue from the specialty chemicals and engineered materials unit rose to $188 million versus $168.6 million in the year-ago quarter. In comparison, Microcontamination control revenue increased from 205.6 million to $258.9 million, while advance materials handling revenue rose from $151.7 million to $197.7 million.
Looking forward, Entegris, Inc. (NASDAQ:ENTG) expects adjusted earnings in the range of 96 cents per share to $1.01 per share and revenue between $630 million and $650 million for the first quarter.
9. Sirius XM Holdings Inc. (NASDAQ:SIRI)
Number of Hedge Fund Holders: 27
Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) climbed to a nearly seven-month high on Tuesday, February 1, 2022, after swinging to a profit in the fourth quarter. The Manhattan-based broadcasting company reported earnings of 8 cents per share, compared to a loss of 16 cents per share in the comparable period of 2020.
In addition, Sirius XM Holdings Inc. (NASDAQ:SIRI) generated revenue of $2.28 billion in the quarter, up 4 percent from the year-ago period. The results topped analysts’ average estimates of 7 cents per share for earnings and $2.24 billion for revenue.
Among other updates, Sirius XM Holdings Inc. (NASDAQ:SIRI) reported that SiriusXM’s hardware was installed in nearly 82 percent of new vehicles sold in the U.S. during 2021, compared to 78 percent in the prior year.
The company also released its financial outlook for 2022. Sirius XM Holdings Inc. (NASDAQ:SIRI) expects revenue of around $9 billion and free cash flow of about $1.55 billion for the full year.
Like Sirius XM Holdings Inc. (NASDAQ:SIRI), Alphabet Inc. (NASDAQ:GOOG), Advanced Micro Devices, Inc. (NASDAQ:AMD) and PayPal Holdings, Inc. (NASDAQ:PYPL) also caught investors’ attention following their quarterly results.
8. Bio-Techne Corporation (NASDAQ:TECH)
Number of Hedge Fund Holders: 27
Shares of Bio-Techne Corporation (NASDAQ:TECH) rose nearly seven percent on Tuesday, January 1, 2022, after announcing its fiscal second-quarter results above expectations. The developer of purified proteins and reagent solutions earned $1.88 per share on an adjusted basis, up from $1.62 per share in the same period of 2020. Analysts were looking for earnings of $1.79 per share.
In addition, Bio-Techne Corporation (NASDAQ:TECH) posted revenue of $269.3 million, up 20 percent versus last year ahead of the consensus forecast of $266.57 million. Revenue at its protein sciences segment climbed 19 percent to $205.0 million, while revenue from the diagnostics and genomics segment jumped 23 percent to $64.5 million in the quarter.
Speaking on the results, CEO of Bio-Techne Corporation (NASDAQ:TECH), Chuck Kummeth, said in a statement:
“This quarter marks the first time in our 44-year history where we have achieved over $1 billion in trailing twelve-month revenue. The Wilson Wolf future investment and acquisition agreement we signed in December has the potential to further extend our 2026 revenue target beyond $2 billion and positions our Cell and Gene Therapy workflow with the strongest global footprint in this exploding new market.”
7. Electronic Arts Inc. (NASDAQ:EA)
Number of Hedge Fund Holders: 53
Shares of Electronic Arts Inc. (NASDAQ:EA) turned red in the after-hours trading session on Tuesday, January 1, 2022, after announcing disappointing financial results for its fiscal third quarter.
Electronic Arts Inc. (NASDAQ:EA) reported adjusted earnings of $3.20 per share, missing expectations of $3.23 per share. The adjusted revenue of $2.58 billion also came in below analysts’ average estimate of $2.67 billion.
The video-games publisher also released the financial outlook for its fiscal fourth quarter. Electronic Arts Inc. (NASDAQ:EA) expects earnings of 46 cents per share and revenue of $1.76 billion. On the other hand, analysts had estimated earnings of 62 cents per share on revenue of $1.77 billion for the current quarter.
Like Electronic Arts Inc. (NASDAQ:EA), Alphabet Inc. (NASDAQ:GOOG), Advanced Micro Devices, Inc. (NASDAQ:AMD) and PayPal Holdings, Inc. (NASDAQ:PYPL) also came into the spotlight after their earnings reports.
6. Gilead Sciences, Inc. (NASDAQ:GILD)
Number of Hedge Fund Holders: 55
Shares of Gilead Sciences, Inc. (NASDAQ:GILD) fell to a nearly three-month low in the pre-market trading session on Wednesday, January 2, 2022, after announcing lower-than-expected profit for the fourth quarter.
Gilead Sciences, Inc. (NASDAQ:GILD) reported adjusted earnings of 69 cents per share, well below $2.19 per share in the year-ago period. The drop was mainly attributed to an unexpected cost of $1.25 billion related to a legal settlement.
Revenue for the quarter also slipped two percent on a year-over-year basis to $7.2 billion, mainly due to weak demand for its coronavirus treatment Veklury. Analysts were expecting Gilead Sciences, Inc. (NASDAQ:GILD) to post earnings of $1.60 per share on revenue of $6.67 billion.
The California-based biopharmaceutical company also issued its financial outlook for 2022. Gilead Sciences, Inc. (NASDAQ:GILD) expects adjusted earnings in the range of $6.20 – $6.70 per share and product revenue between $23.8 – $24.3 billion for the current fiscal year.
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Disclosure: None. 10 Stocks Drawing Attention on Earnings Reports is originally published on Insider Monkey.
