In this article, we will take a look at the 10 stocks making big moves on financial results. You can skip our detailed analysis of these companies and go directly to the 5 Stocks Making Big Moves on Financial Results.
Notable stocks from the communication services, technology and healthcare sectors, including Meta Platforms, Inc. (NASDAQ:FB), T-Mobile US, Inc. (NASDAQ:TMUS), QUALCOMM Incorporated (NASDAQ:QCOM) and AbbVie Inc. (NYSE:ABBV), recently announced their financial results.
Meta Platforms stock took a deep dive in the early trading Thursday, February 3, after posting lower-than-expected earnings and offering a weak sales outlook. The drop also brought down the Nasdaq Composite and S&P 500 indices.
On the other hand, QUALCOMM stock also turned red despite beating quarterly expectations. In comparison, shares of T-Mobile and AbbVie rose after the two companies surpassed financial expectations for their respective quarters.
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Now let’s review the detailed performance of these companies.
Stocks Making Big Moves on Financial Results
10. Emerson Electric Co. (NYSE:EMR)
Number of Hedge Fund Holders: 41
Shares of Emerson Electric Co. (NYSE:EMR) rose over five percent on Wednesday, February 2, 2022, after announcing a better-than-expected profit for its fiscal first quarter. The Missouri-based company reported adjusted earnings of $1.05 per share, beating the consensus forecast of 99 cents per share.
In addition, Emerson Electric Co. (NYSE:EMR) posted revenue of $4.5 billion, up 8 percent on a year-over-year basis and in line with the expectations. Revenue from its automation solutions segment rose four percent, while commercial and residential solutions revenue jumped 13 percent in the quarter.
Emerson Electric Co. (NYSE:EMR) also updated the financial outlook for its FY 2022. It now expects adjusted earnings in the range of $4.90 – $5.05 per share and sales growth between 6 – 8 percent for the full year.
Speaking on the results, CEO Lal Karsanbhai said in a statement:
“Much like the rest of the industry, labor shortages, inflation and supply chain challenges remain a hurdle, but a strong focus on operational excellence and a steadfast commitment to our cost reset targets have proven valuable in offsetting these headwinds.”
9. IDEXX Laboratories, Inc. (NASDAQ:IDXX)
Number of Hedge Fund Holders: 43
Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) rose over four percent on Wednesday, February 2, 2022 after posting upbeat fourth-quarter results. The company earned $1.83 per share on an adjusted basis, up from $1.63 per share in the year-ago quarter.
Revenue came in at $801.1 million versus $720.9 million in the comparable period of 2020. Analysts were expecting IDEXX Laboratories, Inc. (NASDAQ:IDXX) to post earnings of $1.72 per share on revenue of $782 million.
Looking forward, IDEXX Laboratories, Inc. (NASDAQ:IDXX) expects earnings in the range of $9.27 – $9.59 per share and revenue between $3.5 billion – $3.57 billion for the current fiscal year.
Like IDEXX Laboratories, Inc. (NASDAQ:IDXX), investors are also closely watching Meta Platforms, Inc. (NASDAQ:FB), T-Mobile US, Inc. (NASDAQ:TMUS) and QUALCOMM Incorporated (NASDAQ:QCOM), following their earnings reports.
8. Roper Technologies, Inc. (NYSE:ROP)
Number of Hedge Fund Holders: 45
Shares of Roper Technologies, Inc. (NYSE:ROP) closed higher on Wednesday, February 2, 2022, after announcing its fourth-quarter profit and sales above expectations. The diversified technology company reported adjusted earnings of $3.73 per share, up from $3.27 in the year-ago period.
In addition, Roper Technologies, Inc. (NYSE:ROP) generated revenue of $1.51 billion for the quarter, compared to $1.34 billion in the fourth quarter of 2020. Analysts were looking for earnings of $3.67 per share on revenue of $1.5 billion.
The company also announced its earnings outlook for the first quarter and full year. Roper Technologies, Inc. (NYSE:ROP) expects adjusted earnings in the range of $3.63 – $3.67 per share for the first quarter and between $15.25 – $15.55 per share for the full year.
7. Boston Scientific Corporation (NYSE:BSX)
Number of Hedge Fund Holders: 47
Boston Scientific Corporation (NYSE:BSX) managed to beat expectations for the fourth quarter. However, its profit outlook for the first quarter and full-year was below estimates. As a result, its shares fell nearly five percent on Wednesday, February 2, 2022.
The manufacturer of medical devices reported adjusted earnings of 45 cents per share for Q4, just ahead of the consensus forecast of 44 cents per share. Revenue came in at $3.127 billion, while analysts were expecting Boston Scientific Corporation (NYSE:BSX) to generate revenue of $3.11 billion.
Boston Scientific Corporation (NYSE:BSX) also reported its segment-wise sales performance. Revenue from its MedSurg segment jumped 12.1 percent to $999 million, Rhythm & Neuro revenue rose 11.8 percent to $858 million and Cardiovascular revenue climbed 25.3 percent to $1.27 billion in the quarter.
Looking forward, Boston Scientific Corporation (NYSE:BSX) expects adjusted earnings in the range of 38 – 40 cents per share for Q1 and $1.73 – $1.79 per share for 2022. However, the outlook was below the consensus forecast of 41 cents per share for the first quarter and $1.87 per share for the full year.
Like Boston Scientific Corporation (NYSE:BSX), Meta Platforms, Inc. (NASDAQ:FB), T-Mobile US, Inc. (NASDAQ:TMUS) and QUALCOMM Incorporated (NASDAQ:QCOM) also caught investors’ attention after posting their quarterly results.
6. McKesson Corporation (NYSE:MCK)
Number of Hedge Fund Holders: 51
Shares of McKesson Corporation (NYSE:MCK) jumped to an all-time high in the after hours trading session on Wednesday, February 2, 2022, after delivering impressive financial results for its fiscal third quarter.
McKesson Corporation (NYSE:MCK) reported adjusted earnings of $6.15 per share, a significant increase from $4.60 per share in the year-ago quarter. Revenue for the quarter rose 10 percent versus last year to $68.6 billion. The results topped analysts’ average estimate of $5.42 per share for earnings and $66.49 billion for revenue.
If we look at the performance of its flagship business units, revenue from the U.S. pharmaceutical segment rose 11 percent to $55 billion, while revenue from the prescription technology solutions segment climbed 33 percent to $1 billion.
In comparison, revenue from the medical-surgical solutions segment inched up one percent to $3.1 billion, while the international segment revenue increased two percent to $9.5 billion in the quarter.
McKesson Corporation (NYSE:MCK) also lifted its 2022 adjusted profit outlook to a range of $23.55 – $23.95 per share from its previous forecast of $22.35 – $22.95 per share. The updated guidance represents year-over-year growth of 37 – 39 percent.
Discussing the results, CEO of McKesson Corporation (NYSE:MCK), Brian Tyler, said in a statement:
“Our dedicated team members delivered another quarter of strong financial results, demonstrating our continued focus on our strategic growth initiatives, company priorities, and value creation for all stakeholders.”
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Disclosure: None. 10 Stocks Making Big Moves on Financial Results is originally published on Insider Monkey.
