In this article, we will take a look at the 10 stocks making big moves on quarterly results. You can skip our detailed analysis of these companies and go directly to the 5 Stocks Making Big Moves on Quarterly Results.
Notable stocks from technology, communication services, industrial and healthcare sectors, including Microsoft Corporation (NASDAQ:MSFT), AT&T Inc. (NYSE:T), Lockheed Martin Corporation (NYSE:LMT) and Johnson & Johnson (NYSE:JNJ), recently announced their earnings reports.
Shares of Microsoft, Lockheed Martin and Johnson & Johnson rose after beating earnings expectations for their respective quarters. However, AT&T stock turned red after the opening bell on Wednesday, January 26, despite posting upbeat financial results.
Several other companies, such as F5, Inc. (NASDAQ:FFIV) and Texas Instruments Incorporated (NASDAQ:TXN), were also seen trading on heavy volume post financial results.
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We will thoroughly review the performance of these companies in the remaining article.
Stocks Making Big Moves on Quarterly Results
10. PACCAR Inc (NASDAQ:PCAR)
Number of Hedge Fund Holders: 26
Shares of PACCAR Inc (NASDAQ:PCAR) rose more than three percent on Tuesday, January 25, 2022, after delivering better-than-expected financial results for the fourth quarter. The results were mainly driven by strong demand for its trucks and aftermarket parts.
PACCAR Inc (NASDAQ:PCAR) reported earnings of $1.47 per share, up from $1.17 per share in the same period last year. Revenue came in at $6.69 billion, compared to $5.57 billion in the year-ago quarter. The results exceeded the consensus forecast of $1.31 per share for earnings and $5.44 billion for revenue.
Speaking on the results, CEO of PACCAR Inc (NASDAQ:PCAR), Preston Feight, said in a statement:
“PACCAR’s results reflect record aftermarket parts and financial services profits. Customer demand for the new Kenworth, Peterbilt and DAF trucks introduced in 2021 is very strong. Kenworth, Peterbilt and DAF delivered 47,600 trucks in the fourth quarter, 45% higher than in the third quarter, reflecting an improvement in the global supply chain.”
9. F5, Inc. (NASDAQ:FFIV)
Number of Hedge Fund Holders: 27
Shares of F5, Inc. (NASDAQ:FFIV) plummeted more than 14 percent in the after-hours trading session on Tuesday, January 25, 2022, after offering a weak sales outlook along with its fiscal first-quarter results.
F5, Inc. (NASDAQ:FFIV) expects revenue in the range of $610 million – $650 million for its fiscal second quarter, below the consensus forecast of $693 million. In addition, the company also lowered its FY 2022 revenue growth guidance, citing supply chain hurdles. It expects its FY 2022 revenue to grow in the range of 4.5 – 8 percent, compared to its previous growth forecast of 8 – 9 percent.
For its fiscal first quarter, F5, Inc. (NASDAQ:FFIV) posted adjusted earnings of $2.89 per share, beating expectations of $2.78 per share. Revenue for the quarter jumped 10 percent on a year-over-year basis to $687 million, ahead of the consensus forecast of $678 million.
Like F5, Inc. (NASDAQ:FFIV), investors are also closely watching Microsoft Corporation (NASDAQ:MSFT), AT&T Inc. (NYSE:T) and Lockheed Martin Corporation (NYSE:LMT), after their earnings reports.
8. Xerox Holdings Corporation (NASDAQ:XRX)
Number of Hedge Fund Holders: 35
Xerox Holdings Corporation (NASDAQ:XRX) posted better-than-expected profit for the fourth quarter. However, its sales didn’t meet expectations, sending its shares down nearly five percent on Tuesday, January 25, 2022.
The provider of printing and digital document products and services posted adjusted earnings of 34 cents per share, beating analysts’ average estimate of 30 cents per share. On the downside, revenue for the quarter fell 7.9 percent versus last year to $1.78 billion. Analysts were expecting Xerox Holdings Corporation (NASDAQ:XRX) to generate revenue of $1.82 billion.
The company also issued its sales outlook for the full year. Xerox Holdings Corporation (NASDAQ:XRX) expects to post a minimum revenue of $7.1 billion and a free cash flow of at least $400 million for 2022.
7. Texas Instruments Incorporated (NASDAQ:TXN)
Number of Hedge Fund Holders: 40
Shares of Texas Instruments Incorporated (NASDAQ:TXN) rose nearly five percent in the after-hours trading session on Tuesday, January 25, 2022, after delivering impressive financial results for the fourth quarter.
Texas Instruments Incorporated (NASDAQ:TXN) earned $2.27 per share, up from $1.80 per share in the year-ago quarter. Revenue came in at $4.83 billion, compared to $4.08 billion in the same period of 2020. The results easily surpassed analysts’ average estimate of $1.95 per share for earnings and $4.43 billion for revenue.
The semiconductor giant also issued an upbeat financial outlook for the first quarter. Texas Instruments Incorporated (NASDAQ:TXN) expects earnings in the range of $2.01 – $2.29 per share and revenue between $4.5 – $4.9 billion for the current quarter. In comparison, analysts had projected earnings of $1.87 per share on revenue of $4.37 billion for the same period.
Like Texas Instruments Incorporated (NASDAQ:TXN), Microsoft Corporation (NASDAQ:MSFT), AT&T Inc. (NYSE:T) and Johnson & Johnson (NYSE:JNJ), also came into the limelight after releasing their earnings reports.
6. 3M Company (NYSE:MMM)
Number of Hedge Fund Holders: 46
3M Company (NYSE:MMM) is a diversified multinational conglomerate with a vast portfolio of proprietary products. It serves a range of industries, including safety, industrial, electronics, healthcare and more.
Shares of 3M Company (NYSE:MMM) slightly moved up on Tuesday, January 25, 2022, after announcing better-than-expected financial results for the fourth quarter. The company reported earnings of $2.31 per share, down from $2.41 per share in the year-ago quarter but above the consensus forecast of $2.02 per share.
In addition, 3M Company (NYSE:MMM) posted revenue of $8.6 billion, up 0.3 percent versus the comparable period of 2020 and above consensus estimate of $8.55 billion. If we look at the performance of its key business units, revenue from the safety and industrial segment fell 2.2 percent to $3.1 billion, while revenue from the transportation and electronics segment slipped 1.5 percent to $2.3 billion.
In comparison, health care revenue inched up 0.7 percent on a year-over-year basis to $2.3 billion, while consumer revenue rose 4.1 percent to $1.5 billion in the quarter.
Speaking on the results, CEO of 3M Company (NYSE:MMM), Mike Roman, said in a statement:
“3M delivered a solid fourth-quarter performance – with notable strength in December – as we maintained our relentless focus on serving customers in a challenging external environment. Our team effectively managed supply chain disruptions, made good progress on pricing actions and controlled costs.”
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Disclosure: None. 10 Stocks Making Big Moves on Quarterly Results is originally published on Insider Monkey.
