In this article, we will take a look at the 10 stocks making noise after releasing their earnings reports. You can skip our detailed analysis of these companies, and go directly to the 5 Stocks Making Noise After Releasing Their Earnings Reports.
Some of the most valuable U.S. stocks, including Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), and Visa Inc. (NYSE:V), recently released their quarterly financial reports.
Shares of Microsoft Corporation (NASDAQ:MSFT) and Alphabet Inc. (NASDAQ:GOOG) gained value after delivering solid performance. However, Visa Inc. (NYSE:V) shares fell despite beating expectations. In addition, stocks like Twitter, Inc. (NYSE:TWTR), Eli Lilly and Company (NYSE:LLY), and Texas Instruments Incorporated (NASDAQ:TXN) are also trending after announcing their financial results.
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We will explore the detailed results of these companies in the remaining article.
10 Stocks Making Noise After Releasing Their Earnings Reports
10. Waste Management, Inc. (NYSE:WM)
Number of Hedge Fund Holders: 39
Shares of Waste Management, Inc. (NYSE:WM) slipped just over one percent on Tuesday, 26 October 2021, after the company posted mixed financial results for the third quarter. The company reported adjusted earnings of $1.26 per share, up from $1.09 per share in the comparable period of 2020.
Revenue came in at $4.7 billion, compared to $3.9 billion in the same period last year. Analysts were expecting Waste Management, Inc. (NYSE:WM) to report earnings of $1.35 per share on revenue of $4.5 billion.
Waste Management, Inc. (NYSE:WM) also updated its revenue outlook for 2021. It expects revenue growth in the range of 17 – 17.5 percent for the full year, up from its previous growth forecast between 15.5 – 16 percent.
9. Corning Incorporated (NYSE:GLW)
Number of Hedge Fund Holders: 42
Shares of Corning Incorporated (NYSE:GLW) turned red on Tuesday, 26 October 2021, after its third-quarter adjusted profit missed expectations. The New York-based glassmaker blamed the global chip shortage for the weak results.
The company earned 56 cents per share on an adjusted basis, slightly below the consensus forecast of 58 cents per share. Revenue came in at $3.62 billion, almost in line with analysts’ average estimate of $3.632 billion. Corning Incorporated (NYSE:GLW) had posted adjusted earnings of 43 cents per share on revenue of $3 billion for the comparable period of 2020.
If we look at the performance of its flagship businesses, revenue from the optical communications segment jumped 24 percent on a year-over-year basis to $1.13 billion. In comparison, revenue from the display technologies segment rose 16 percent to $956 million in the quarter.
Corning Incorporated (NYSE:GLW) also released its financial outlook for the fourth quarter. It expects adjusted earnings in the range of 50 cents per share – 55 cents per share and revenue between $3.5 billion and $3.7 billion.
8. Ecolab Inc. (NYSE:ECL)
Number of Hedge Fund Holders: 48
Shares of Ecolab Inc. (NYSE:ECL) hit their highest price in more than a year after the company posted impressive results for the third quarter. The company reported adjusted earnings of $1.38 per share, up from $1.15 per share in the same period last year.
Analysts were looking for earnings of $1.30 a share. In addition, Ecolab Inc. (NYSE:ECL) posted revenue of $3.32 billion, up 10 percent on a year-over-year basis and ahead of the consensus forecast of $3.27 billion.
Speaking on the results, CEO Christophe Beck said in a statement:
“The strong third quarter results were better than expected, driven by continued accelerating pricing, new business gains and new product sales, as we also successfully managed to significantly reduce the unfavorable impacts from Hurricane Ida on both our customers and supply chain.”
Like Ecolab Inc. (NYSE:ECL), investors are also closing watching Eli Lilly and Company (NYSE:LLY), Twitter, Inc. (NYSE:TWTR), Alphabet Inc. (NASDAQ:GOOG), Visa Inc. (NYSE:V), and Microsoft Corporation (NASDAQ:MSFT) after their earnings reports.
7. Texas Instruments Incorporated (NASDAQ:TXN)
Number of Hedge Fund Holders: 50
Shares of Texas Instruments Incorporated (NASDAQ:TXN) fell more than five percent in the pre-market trading session on Wednesday, 27 October 2021, after the company posted lower-than-expected revenue for the fourth quarter.
Texas Instruments Incorporated (NASDAQ:TXN) generated revenue of $4.64 billion in the quarter, up from $3.82 billion in the comparable period of 2020. However, it was slightly shy of $4.66 billion estimated by analysts.
On the bright side, earnings of $2.07 per share for the quarter surpassed the consensus forecast of $2.05 per share. The company had reported earnings of $1.45 per share for the same period last year.
Texas Instruments Incorporated (NASDAQ:TXN) also issued its financial outlook for the fourth quarter. It expects earnings in the range of $1.83 – $2.07 per share and revenue between on $4.22 billion – $4.58 billion. The guidance aligns with analysts’ average estimate of $1.93 per share for earnings and $4.45 billion for revenue.
Like Texas Instruments Incorporated (NASDAQ:TXN), Eli Lilly and Company (NYSE:LLY), Twitter, Inc. (NYSE:TWTR), Alphabet Inc. (NASDAQ:GOOG), Visa Inc. (NYSE:V), and Microsoft Corporation (NASDAQ:MSFT) also came into the limelight after announcing their financial results.
6. Lockheed Martin Corporation (NYSE:LMT)
Number of Hedge Fund Holders: 58
Shares of Lockheed Martin Corporation (NYSE:LMT) plummeted more than 11 percent on Tuesday, 26 October 2021, hitting a nearly eight-month low, after the company posted weak sales for the third quarter and slashing its outlook.
The global security and aerospace company earned $2.21 per share in the quarter, representing a sharp decline from earnings of $6.25 per share in the same period last year. Analysts were expecting Lockheed Martin Corporation (NYSE:LMT) to report earnings of $1.97 per share.
Revenue for the quarter also slipped 2.8 percent on a year-over-year basis to $16.03 billion, missing the consensus forecast of $17.1 billion. If we see the performance of key business units, revenue from the aeronautic segment slid two percent on a year-over-year basis, whereas revenue from the missiles and fire control segment fell six percent. In comparison, revenue from the space segment decreased five percent versus the same period last year.
Lockheed Martin Corporation (NYSE:LMT) also updated its financial outlook for 2021. It now expects adjusted earnings of about $27.17 per share, up from its previous forecast in the range of $26.70 per share to $27 per share. In addition, revenue for the full year is now expected to come in at $67 billion, down from its earlier guidance between $67.3 billion and $68.7 billion.
Discussing the results, CEO James Taiclet said in a statement:
“We are adjusting our capital allocation strategy with two major objectives. First, to expand further our robust reinvestment in the company to serve our customers’ evolving needs through capital projects and independent research and development for mid- to long-term enhanced growth performance.”
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Disclosure: None. 10 Stocks Making Noise After Releasing Their Earnings Reports is originally published on Insider Monkey.
