5 Stocks Drawing Attention After Posting Their Financial Results

In this article, we discuss the 5 stocks drawing attention after posting their financial results. If you want to read our detailed analysis of these companies, go directly to the 11 Stocks Drawing Attention After Posting Their Financial Results.

5. Starbucks Corporation (NASDAQ:SBUX)

Number of Hedge Fund Holders: 53

Shares of Starbucks Corporation (NASDAQ:SBUX) rose over six percent in the after-hours trading session on Tuesday, May 3, 2022, after its fiscal second-quarter profit matched expectations.

Starbucks Corporation (NASDAQ:SBUX) reported adjusted earnings of 59 cents per share, down from 61 cents per share in the same period last year. Revenue came in at $7.64 billion, up 15 percent on a year-over-year basis. Analysts were looking for earnings of 59 cents per share on revenue of $7.6 billion.

Among other updates, Starbucks Corporation (NASDAQ:SBUX) reported that it added 313 new stores in the quarter, bringing the total count to 34,630. Overall, stores in the United States and China account for 61 percent of the total portfolio.

Discussing the results, CEO Howard Schultz said:

“Given record demand and changes in customer behavior we are accelerating our store growth plans, primarily adding high-returning drive-thrus, and accelerating renovation programs so we can better meet demand and serve our customers where they are.”

4. Airbnb, Inc. (NASDAQ:ABNB)

Number of Hedge Fund Holders: 63

Shares of Airbnb, Inc. (NASDAQ:ABNB) turned green in the pre-market trading session on Wednesday, May 4, 2022, following its upbeat financial performance for the first quarter. The results were mainly attributed to accelerated travel recovery and improved bookings.

Airbnb, Inc. (NASDAQ:ABNB) reported a loss of 3 cents per share, narrower than analysts’ average estimate for a loss of 29 cents per share. Revenue for the quarter skyrocketed 70 percent versus last year to $1.51 billion and exceeded the consensus of $1.45 billion.

For the second quarter, Airbnb, Inc. (NASDAQ:ABNB) guided for revenue in the range of $2.03 – $2.13 billion. This compares to the consensus of $1.96 billion.

Praising the latest performance, CEO Brian Chesky said:

“The first quarter of 2022 was another record quarter for Airbnb. Guests are continuing to travel domestically and to rural destinations, and now, guests are also returning to cities and crossing borders at or above pre-pandemic levels. Airbnb is stronger than ever before.”

3. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 69

Advanced Micro Devices, Inc. (NASDAQ:AMD) recently crushed profit and sales expectations for the first quarter amid strong growth across its flagship segments. The semiconductor giant reported adjusted earnings of $1.13 per share, significantly higher than 52 cents per share in the year-ago period.

Revenue for the quarter climbed 71 percent on a year-over-year basis to $5.89 billion. Analysts were expecting Advanced Micro Devices, Inc. (NASDAQ:AMD) to earn 91 cents per share on revenue of $5.52 billion.

Advanced Micro Devices, Inc. (NASDAQ:AMD) also released its segment-wise sales results. Revenue from the Computing and Graphics business climbed 33 percent to $2.8 billion, while revenue from the Enterprise, Embedded and Semi-Custom division soared 88 percent to $2.5 billion in the quarter.

Looking forward, Advanced Micro Devices, Inc. (NASDAQ:AMD) expects to generate revenue of approx. $6.5 billion for the second quarter. The outlook represents a growth of 69 percent over the same period of 2021. It is also above analysts’ average estimate of $6.38 billion.

Speaking on the results, CEO Dr. Lisa Su said:

“The first quarter marked a significant inflection point in our journey to scale and transform AMD as we delivered record revenue and closed our strategic acquisition of Xilinx. Each of our businesses grew by a significant double digit percentage year-over-year, led by EPYC server processor revenue more than doubling for the third straight quarter.”

2. CVS Health Corporation (NYSE:CVS)

Number of Hedge Fund Holders: 71

Shares of CVS Health Corporation (NYSE:CVS) rose nearly two percent in the pre-market trading session on Wednesday, May 4, 2022, after delivering impressive financial performance for the first quarter.

CVS Health Corporation (NYSE:CVS) reported earnings of $2.22 per share on an adjusted basis, topping estimates of $2.15 per share. Moreover, its quarterly revenue rose 11.2 percent on a year-over-year basis to $76.83 billion and surpassed expectations of $75.39 billion.

CVS Health Corporation (NYSE:CVS) continues to benefit from the pandemic as people visit its stores for coronavirus tests and receiving vaccine shots. Meanwhile, the company is adding new healthcare services across its outlets to boost foot traffic.

Looking forward, CVS Health Corporation (NYSE:CVS) raised its 2022 adjusted earnings outlook to a range of $8.20 – $8.40 per share, from its previous guidance between $8.10 – $8.30 per share.

1. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 83

Share of Pfizer Inc. (NYSE:PFE) closed higher on Tuesday, May 3, 2022, after the pharmaceutical giant posted solid profit and sales for the first quarter. The New York-based company reported adjusted earnings of $1.62 per share, well above 95 cents per share in the year-ago period.

In addition, Pfizer Inc. (NYSE:PFE) posted revenue of $25.7 billion, representing a big jump of 77 percent over the same period of 2021. The results easily surpassed analysts’ average estimate for earnings of $1.50 per share and revenue of $23.95 billion.

On the downside, Pfizer Inc. (NYSE:PFE) slashed its profit outlook for the full year. The company now anticipates adjusted earnings in the range of $6.25 – $6.45 per share versus its previous forecast of $6.35 – $6.55 per share.

However, Pfizer Inc. (NYSE:PFE) maintained its sales outlook for 2022. It continues to expect revenue in the range of $98 – $102 billion for the full year.

Discussing the results, CEO Dr. Albert Bourla said in a statement:

“We continue to supply the world with Comirnaty, which remains a critical tool for helping patients and societies avoid the worst impacts of the COVID-19 pandemic, and we are on track to fulfill our commitment to deliver at least 2 billion doses to low- and middle-income countries in 2021 and 2022, including at least 1 billion doses this year.”

You can also take a peek at 10 Best Fertilizer Stocks To Buy Now and 10 Favorite Stocks of Dan Loeb’s Third Point.

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