5 Stocks Garnering Attention After Releasing Their Earnings Reports

In this article, we discuss the 5 stocks garnering attention after releasing their earnings reports. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks Garnering Attention After Releasing Their Earnings Reports.  

5. Carnival Corporation & plc (NYSE:CCL)

Number of Hedge Fund Holders: 33

Shares of Carnival Corporation & plc (NYSE:CCL) turned red on Tuesday, March 22, 2022, following its disappointing financial performance for its fiscal first quarter and a weak outlook for the current quarter.

Carnival Corporation & plc (NYSE:CCL) reported a loss of $1.66 per share, wider than analysts’ average estimate for a loss of $1.26 per share. Revenue for the quarter came in at $1.62 billion, missing expectations of $2.30 billion.

Looking forward, Carnival Corporation & plc (NYSE:CCL) projected a loss for its fiscal second quarter, citing rising fuel costs amid the Russia-Ukraine war. Industry experts also believe that increasing fuel prices will weigh on the company’s operating performance in the near term despite improvement in booking trends.

Nevertheless, the Miami-based cruise operator expects to turn a profit in its fiscal third quarter.

4. Pinduoduo Inc. (NASDAQ:PDD)

Number of Hedge Fund Holders: 34

Shares of Pinduoduo Inc. (NASDAQ:PDD) rallied nearly 19 percent on Tuesday, March 22, 2022, after announcing better-than-expected financial results for the fourth quarter. The Shanghai-based agriculture-focused technology platform reported adjusted earnings of 92 cents per ADS, crushing expectations of 35 cents.

On the downside, the quarterly revenue of $4.27 billion fell slightly below the consensus of $4.76 billion. Pinduoduo Inc. (NASDAQ:PDD) also released its segment-wise sales performance. Its online marketing services and others revenue jumped 19 percent to $3.52 billion, while transaction services revenues skyrocketed 108 percent to $741.3 million in the quarter.

In comparison, revenue from merchandise sales plummeted 98 percent to $12.8 million. Among other updates, Pinduoduo Inc. (NASDAQ:PDD) reported that it ended the quarter with 868.7 million active buyers, compared to 788.4 million in the same period of 2020.

Commenting on the quarter, CEO Lei Chen said:

“In 2021, we made the strategic shift from sales and marketing toward research and development. We see ourselves making more long-term investment, especially in agriculture and R&D. Similar to the last two quarters, we will allocate profits from the fourth quarter to the 10 Billion Agriculture Initiative to deepen our digital inclusion efforts in agriculture.”

3. Cintas Corporation (NASDAQ:CTAS)

Number of Hedge Fund Holders: 42

Shares of Cintas Corporation (NASDAQ:CTAS) slightly moved up in the pre-market trading session on Wednesday, March 23, 2022, after beating profit and sales expectations for its fiscal third quarter.

Cintas Corporation (NASDAQ:CTAS) reported adjusted earnings of $2.69 per share, up from $2.37 in the same period last year. Revenue for the quarter rose 10.3 percent on a year-over-year basis to $1.96 billion. The results exceeded the consensus of $2.43 per share for earnings and $1.91 billion for revenue.

The Ohio-based corporate identity uniforms provider also issued the financial outlook for the current quarter. Cintas Corporation (NASDAQ:CTAS) guided for earnings in the range of $2.54 – $2.74 per share and revenue between $1.96 – $2.02 billion for its fiscal fourth quarter.

Speaking on the results, CEO Todd Schneider said:

“We are pleased with our third quarter financial results, led by a revenue increase of 10.3%. Excluding the gain previously mentioned, operating income and diluted EPS increased significantly despite inflation. Our financial results are indicative of our strong value proposition.”

2. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 68

Shares of NIKE, Inc. (NYSE:NKE) closed higher on Tuesday, March 22, 2022, following an upbeat financial performance for its fiscal third quarter. The Oregon-based sportswear giant reported earnings of 87 cents per share, topping expectations of 71 cents per share.

In addition, NIKE, Inc. (NYSE:NKE) posted revenue of $10.9 billion, up 5 percent on a year-over-year basis and above analysts’ average estimate of $10.6 billion. Revenue from direct sales rose 15 percent, while digital revenue jumped 19 percent in the quarter.

Discussing the results, CFO of NIKE, Inc. (NYSE:NKE), Matt Friend, said:

“Our third quarter results demonstrate NIKE’s ability to navigate through volatility, while continuing to serve consumers directly and digitally, at scale. Marketplace demand continues to significantly exceed available inventory supply, with a healthy pull market across our geographies.”

1. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Holders: 94

Adobe Inc. (NASDAQ:ADBE) recently announced better-than-expected financial results for its fiscal first quarter. However, its outlook for the current quarter missed expectations, sending its shares down more than 10 percent in the early trading session on Wednesday, March 23, 2022.

The California-based software giant reported adjusted earnings of $3.37 per share, up from $3.14 per share in the year-ago period. Analysts were expecting Adobe Inc. (NASDAQ:ADBE) to earn $3.34 per share.

Revenue for the quarter rose 9 percent on a year-over-year basis to $4.26 billion, exceeding expectations of $4.24 billion. Adobe Inc. (NASDAQ:ADBE) also released its segment-wise sales performance. Its digital media revenue increased 9 percent to $3.11 billion, while digital experience revenue jumped 13 percent to $1.06 billion in the quarter.

Looking forward, Adobe Inc. (NASDAQ:ADBE) guided for adjusted earnings of about $3.30 per share and revenue of approx. $4.34 billion for its fiscal second quarter. The outlook fell short of analysts’ average estimate of $3.35 per share for earnings and $4.40 billion for revenue.

Speaking on the results, CFO Dan Durn said:

“Adobe’s Q1 results reflect the company’s strong execution and resilience through unprecedented circumstances. Our momentum, product innovation and immense market opportunity position us for success in 2022 and beyond.”

You can also take a peek at 10 Dividend Stocks Warren Buffett is Backing in 2022 and 10 Undervalued Dividend Kings To Buy In 2022.

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