5 Stocks in The Limelight After Announcing Their Financial Results

In this article, we discuss the 5 stocks in the limelight after announcing their financial results. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks in The Limelight After Announcing Their Financial Results.

5. Delta Air Lines, Inc. (NYSE:DAL)

Number of Hedge Fund Holders: 50

Shares of Delta Air Lines, Inc. (NYSE:DAL) rose more than two percent on Thursday, January 13, 2022, after posting better-than-expected financial results for the fourth quarter. In addition, the Georgia-based airline announced that it expects to turn a profit in 2022 despite a challenging environment in the first quarter.

Delta Air Lines, Inc. (NYSE:DAL) reported adjusted earnings of 22 cents per share, beating the consensus forecast of 16 cents per share. Revenue came in at $9.47 billion, ahead of analysts’ average estimate of $9.21 billion.

Speaking on the results, CEO of Delta Air Lines, Inc. (NYSE:DAL), Ed Bastian, said in a statement:

“2021 was a year like no other for Delta, with significant progress in our recovery supported by growing brand preference, enabling us to be the only major U.S. airline to deliver profitability across the second half of the year.”

4. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Number of Hedge Fund Holders: 67

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) hit a new 52-week high of $145 on January 14, 2022, after delivering impressive profit and sales for the fourth quarter.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) earned $1.15 per share on revenue of $15.74 billion. The results easily surpassed analysts’ average estimate of $1.12 per share for earnings and $15.620 billion for revenue.

The company also issued its sales outlook for the first quarter. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) expects revenue in the range of $16.6 billion – $17.2 billion for the current quarter.

Discussing the results, CEO Wendell Huang said in a statement:

“Our fourth quarter business was supported by strong demand for our industry-leading 5- nanometer technology. Moving into first quarter 2022, we expect our business to be supported by HPC-related demand, continued recovery in the automotive segment, and a milder smartphone seasonality than in recent years.”

3. Citigroup Inc. (NYSE:C)

Number of Hedge Fund Holders: 79

Shares of Citigroup Inc. (NYSE:C) fell over two percent in the pre-market trading session on Friday, January 14, 2022, despite beating profit and sales expectations for the fourth quarter. The New York-based bank reported earnings of $1.46 per share, down from $1.92 per share in the year-ago quarter.

Revenue came in at $17 billion, nearly unchanged from $16.8 billion in the comparable period of 2020. Analysts were expecting Citigroup Inc. (NYSE:C) to post earnings of $1.39 per share on revenue of $16.85 billion.

If we look at the performance of key business segments, revenue from the institutional clients’ group (ICG) rose four percent versus last year to $9.9 billion. On the downside, revenue from the global consumer banking (GCB) fell six percent to $6.9 billion in the quarter.

Commenting on the quarter, CEO of Citigroup Inc. (NYSE:C), Jane Fraser, said:

“We continue to make steady progress on executing our strategy as demonstrated most recently by the signing of an agreement to sell four consumer businesses in Asia. We are also aligning our organization and reporting structure with our strategy, including the creation of the Personal Banking and Wealth Management and Legacy Franchises segments. This will make it easier for our investors to understand the performance of our core businesses and optimize the businesses we have chosen to exit.”

2. Wells Fargo & Company (NYSE:WFC)

Number of Hedge Fund Holders: 88

Shares of Wells Fargo & Company (NYSE:WFC) made a new 52-week high of $58.87 on Friday, January 14, 2022, after posting solid profit and sales for the fourth quarter. The San Francisco-based bank earned $1.38 per share, significantly higher than 66 cents per share in the comparable period of 2020.

Analysts were expecting Wells Fargo & Company (NYSE:WFC) to report earnings of $1.11 per share. In addition, revenue came in at $20.86 billion versus $18.49 billion in the year-ago quarter and above expectations of $18.79 billion.

Speaking on the results, CEO of Wells Fargo & Company (NYSE:WFC), Charlie Scharf, said in a statement:

“As the economy continued to recover we saw increased consumer spending, higher investment banking fees, higher asset-based fees in our Wealth and Investment Management business, and strong equity gains in our affiliated venture capital and private equity businesses. We continued to manage credit well and the strong economic environment helped reduce charge-offs to historical lows and our results benefitted from reductions in our allowance for credit losses.”

1. JPMorgan Chase & Co. (NYSE:JPM)

Number of Hedge Fund Holders: 101

Shares of JPMorgan Chase & Co. (NYSE:JPM) turned red on Friday, January 14, 2022, after its fourth-quarter profit fell on a year-over-year basis. The New York-based financial services company reported earnings of $3.33 per share, compared to $3.79 per share in the same period last year.

Revenue inched up one percent versus the year-ago quarter to $30.3 billion. Analysts were expecting JPMorgan Chase & Co. (NYSE:JPM) to post earnings of $3.01 per share on revenue of $29.78 billion.

If we look at the performance of key units of JPMorgan Chase & Co. (NYSE:JPM), revenue from the Consumer & Community Banking (CCB) decreased four percent on a year-over-year basis to $12.3 billion.

In comparison, Corporate & Investment Bank (CIB) revenue rose two percent to $11.5 billion, Commercial Banking (CB) revenue increased six percent to $2.6 billion, and Asset & Wealth Management (AWM) revenue jumped 16 percent to $4.5 billion.

Discussing the results, CEO of JPMorgan Chase & Co. (NYSE:JPM), Jamie Dimon, said:

“JPMorgan Chase reported solid results across our businesses benefiting from elevated capital markets activity and a pick up in lending activity as firmwide average loans were up 6%. The economy continues to do quite well despite headwinds related to the Omicron variant, inflation and supply chain bottlenecks.”

You can also take a peek at 10 Tech Stocks to Buy According to Select Equity Group and Top 10 Stock Picks of Thomas Bancroft’s Makaira Partners.

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