5 Stocks Making Big Moves After Earnings Reports

In this article, we discuss the 5 stocks making big moves after earnings reports. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks Making Big Moves After Earnings Reports.

5. Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Number of Hedge Fund Holders: 28

Shares of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) slipped nearly 3 percent on Tuesday, 21 September, 2021, after the company announced its fiscal fourth-quarter profit and sales below expectations.

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) reported adjusted earnings of $2.25 per share for the three months ended 30 July 2021, compared to a loss of 85 cents per share in the year-ago quarter.

Revenue for the quarter jumped 58.4 percent on a year-over-year basis to $784.4 million. Analysts were expecting Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) to report earnings of $2.33 per share on revenue of $794.7 million.

Speaking on the results, CEO Sandra Cochran said:

“Despite the well-known headwinds that the industry continues to face with respect to staffing, commodity and wage inflation, and the resurgence of the pandemic, we were pleased that our fourth quarter profitability continued to trend positively from the third quarter and that our off-premise sales, retail business, and Maple Street Biscuit Company concept continued to outperform.”

4. AutoZone, Inc. (NYSE:AZO)

Number of Hedge Fund Holders: 34

AutoZone, Inc. (NYSE:AZO) is a well known supplier of automotive parts and accessories in the U.S. AutoZone stock recently hit an all-time high of $1,694.27 after delivering impressive results for its fiscal fourth quarter.

The company reported earnings of $35.72 per share for the three months ended 28 August 2021, up from $30.93 per share in the comparable period of 2020. Analysts were expecting AutoZone, Inc. (NYSE:AZO) to report earnings of $30.06 per share.

Revenue for the quarter rose 8.1 percent on a year-over-year basis to $4.91 billion, beating analysts’ average estimate of $4.57 billion. In addition, AutoZone, Inc. (NYSE:AZO) opened 29 stores during the quarter, bringing the total store count to 6,767.

Commenting on the results, CEO Bill Rhodes said in a statement:

“Our strong sales and earnings this quarter are a testament to our AutoZoners’ ongoing commitment to going the extra mile for our customers. Our retail business performed very well this quarter ending with virtually flat same store sales on top of last year’s historic growth of over 20%. And, our commercial business growth continues to be exceptionally strong at 21.2%. The investments we are making continue to strengthen our competitive positioning in all the sectors and markets we compete. We are optimistic about our growth prospects heading into our new fiscal year.”

3. Stitch Fix, Inc. (NASDAQ:SFIX)

Number of Hedge Fund Holders: 35

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) advanced more than 15 percent on Wednesday, 22 September, 2021 after the company surprised investors by reporting a profit for its fiscal fourth quarter.

The online personal styling service posted earnings of 19 cents per share, while analysts were expecting a loss of 12 cents per share. Stitch Fix, Inc. (NASDAQ:SFIX) had reported a loss of 44 cents per share in the comparable period of 2020.

Revenue for the quarter climbed 29 percent on a year-over-year basis to $571.2 million, exceeding the consensus forecast of $547.8 million. In addition, Stitch Fix, Inc. (NASDAQ:SFIX) posted revenue of $2.1 billion for its fiscal year ended 31 July 2021, marking the highest annual revenue in the history of the company.

Stitch Fix, Inc. (NASDAQ:SFIX) also issued its sales outlook for the current quarter and full year. It expects revenue in the range of $560 million to $575 million for its fiscal first quarter, translating to year-over-year growth between 14 – 17 percent. For its FY 2022, the company expects revenue growth of at least 15 percent on a year-over-year basis.

2. FedEx Corporation (NYSE:FDX)

Number of Hedge Fund Holders: 61

Shares of FedEx Corporation (NYSE:FDX) took a deep dive on Wednesday, 22 September 2021, after announcing disappointing results for its fiscal first quarter. The company blamed higher costs, constrained labor market, and network inefficiencies for the weak results.

FedEx Corporation (NYSE:FDX) reported adjusted earnings of $4.37 per share for the three months ended 31 August 2021, down from $4.87 per share in the comparable period of 2020. Revenue came in at $22 billion, up 14 percent from the year-ago quarter.

Analysts were expecting FedEx Corporation (NYSE:FDX) to report earnings of $4.88 per share on $21.93 billion in revenues.

FedEx Corporation (NYSE:FDX) also updated profit outlook for its fiscal year 2022. The logistics company now expects adjusted earnings of $19.75 – $21 per share for the full year, below its previous forecast between $20.50 – $21.50 per share.

CEO Frederick Smith seemed satisfied with the results. He said in a statement:

“The execution of our strategies continues to drive higher demand for our services, despite the disruptive impact of the pandemic to labor availability and global supply chains.”

1. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Holders: 89

Adobe Inc. (NASDAQ:ADBE) recently came into the limelight after announcing better-than-expected profit and sales for its fiscal third quarter ended 3 September 2021. The software giant reported adjusted earnings of $3.11 per share, up from $2.57 per share in the comparable period of 2020.

Revenue for the quarter surged 22 percent on a year-over-year basis to $3.94 billion. Analysts were expecting Adobe Inc. (NASDAQ:ADBE)  to report earnings of $3.01 per share and revenue of $3.89 billion.

If we go through the performance of key businesses, revenue from the digital media segment rose 23 percent to $2.87 billion, while creative revenue jumped 21 percent to $2.37 billion. In comparison, document cloud revenue climbed 31 percent to $493 million.

Looking forward, Adobe Inc. (NASDAQ:ADBE) expects adjusted earnings of around $3.18 per share on revenue of approx. $4.07 billion for its fiscal fourth quarter. The outlook is better than the consensus forecast of $3.08 per share for earnings and $4.04 billion for revenue.

Praising the results, CFO John Murphy said:

“We drove record revenues and strong profitability in the quarter, demonstrating our ability to succeed in a dynamic environment. Our operational rigor and data-driven insights enable us to execute while we continue to invest across massive market opportunities.”

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