5 Stocks Making Big Moves on Quarterly Results

In this article, we discuss the 5 stocks making big moves on quarterly results. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks Making Big Moves on Quarterly Results.

5. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 51

Shares of Lockheed Martin Corporation (NYSE:LMT) jumped to a nearly seven-month high on Tuesday, January 25, 2022, after announcing better-than-expected financial results for the fourth quarter.

Lockheed Martin Corporation (NYSE:LMT) reported earnings of $7.47 per share, up from $6.38 per share in the year-ago quarter. Revenue for the quarter rose 4.1 percent on a year-over-year basis to $17.73 billion. The results easily surpassed the consensus estimate of $7.16 per share for earnings and $17.66 billion for revenue.

Looking forward, Lockheed Martin Corporation (NYSE:LMT) expects earnings of around $26.70 per share for 2022, above expectations of $26.56 per share. The company also reaffirmed its sales outlook of about $66 billion for the full year.

Speaking on the results, CEO of Lockheed Martin Corporation (NYSE:LMT), James Taiclet, said in a statement:

“We delivered significant value back to shareholders in 2021, including $7 billion in dividends and share repurchases, and our team continued to provide world-class support to our customers despite the ongoing challenges of the global pandemic.”

4. Capital One Financial Corporation (NYSE:COF)

Number of Hedge Fund Holders: 55

Shares of Capital One Financial Corporation (NYSE:COF) closed higher on Tuesday, January 25, 2022, after beating profit and sales expectations for the fourth quarter. The provider of commercial banking services earned $5.41 per share, slightly higher than $5.35 per share in the comparable period of 2020.

Revenue rose four percent on a year-over-year basis to $8.1 billion. Analysts were expecting Capital One Financial Corporation (NYSE: COF) to post earnings of $5.33 per share on revenue of $7.94 billion.

If we look at some of the key growth indicators, net interest income for the quarter increased to $6.45 billion from $5.87 billion in the year-ago quarter. In comparison, non-interest income surged to $1.67 billion from $1.46 billion a year earlier. In addition, Capital One Financial Corporation (NYSE:COF) reported an increase of one percent or $2.2 billion in average deposits for the quarter.

Commenting on the results, CEO of Capital One Financial Corporation (NYSE: COF), Richard Fairbank, said:

“In the fourth quarter, we posted strong growth with strikingly strong credit results, and we continued to return capital to our shareholders. As we enter 2022, we continue to see attractive opportunities to grow and build our franchise.”

3. AT&T Inc. (NYSE:T)

Number of Hedge Fund Holders: 66

Shares of AT&T Inc. (NYSE:T) slightly moved down in the morning trading session on Wednesday, January 26, 2022, even after delivering its fourth-quarter financial results above expectations.

AT&T Inc. (NYSE:T) earned 78 cents per share on an adjusted basis, up from 75 cents per share in the year-ago quarter and above the consensus forecast of 76 cents per share. Revenue for the quarter decreased to $41 billion from $45.7 billion in the comparable period of 2020. Analysts were looking for revenue of $40.3 billion.

Among other important updates, AT&T Inc. (NYSE:T) reported 1.3 million postpaid net additions for the quarter. Moreover, its global HBO Max and HBO subscribers stood at 73.8 million at the end of the quarter.

AT&T Inc. (NYSE:T) also issued its profit outlook for 2022. It expects adjusted earnings in the range of $3.10 – $3.15 per share, slightly below analysts’ average estimate of $3.16 per share.

Speaking on the results, CEO of AT&T Inc. (NYSE:T), John Stankey, said in a statement:

“We ended 2021 the way we started it – by growing our customer relationships, running our operations more effectively and efficiently, and sharpening our focus. Our momentum is strong and we’re confident there is more opportunity to continue to grow our customer base and drive costs from the business.”

2. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 88

Shares of Johnson & Johnson (NYSE:JNJ) closed higher on Tuesday, January 25, 2022, following its mixed financial performance for the fourth quarter.  The consumer goods and pharmaceutical company reported adjusted earnings of $2.13 per share, marginally beating the consensus forecast of $2.12 per share.

In addition, Johnson & Johnson (NYSE:JNJ) posted revenue of $24.804 billion, missing the expectations of $25.284 billion. If we look at the performance of its key business segments, consumer health revenue inched up 1.1 percent to $2.657 billion, pharma revenue jumped 16.5 percent to $14.288 billion, and medical devices revenue increased 4.1 percent to $6.859 billion in the quarter.

Looking forward, Johnson & Johnson (NYSE:JNJ) is expecting adjusted earnings in the range of $10.40 – $10.60 per share for 2022, above analysts’ average estimate of $10.35 per share.

Discussing the results, CEO of Johnson & Johnson (NYSE:JNJ), Joaquin Duato, said:

“Our 2021 performance reflects continued strength across all segments of our business. Guided by Our Credo, I am honored to assume the role of CEO, leading our global teams in continuing our work to deliver life-changing solutions to consumers, patients, and health care providers.”

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 250

Shares of Microsoft Corporation (NASDAQ:MSFT) jumped more than five percent in the pre-market trading session on Wednesday, January 26, 2022, after delivering another solid quarter. The software giant earned $2.48 per share for its fiscal second quarter, compared to $2.03 per share in the year-ago period.

Revenue for the quarter came in at $51.73 billion, up from $43.08 billion in the comparable period of 2020. Analysts were expecting Microsoft Corporation (NASDAQ:MSFT) to post earnings of $2.32 per share on revenue of $50.71 billion.

If we look at the sales performance of flagship business units of Microsoft Corporation (NASDAQ:MSFT), revenue from the productivity and business processes segment jumped 19 percent to $15.9 billion. In comparison, intelligent cloud revenue climbed 26 percent to $18.3 billion, while more personal computing revenue surged 15 percent to $17.5 billion in the quarter.

Speaking on the results, CEO of Microsoft Corporation (NASDAQ:MSFT), Satya Nadella, said:

“As tech as a percentage of global GDP continues to increase, we are innovating and investing across diverse and growing markets, with a common underlying technology stack and an operating model that reinforces a common strategy, culture, and sense of purpose.”

You can also take a peek at 9 Stocks That Credit Markets Expert Steve Ketchum Likes and Top 10 Stock Picks of Thomas Bancroft’s Makaira Partners.

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