5 Stocks Making Notable Moves on Earnings Reports

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

5. Match Group, Inc. (NASDAQ:MTCH)

Number of Hedge Fund Holders: 57

Shares of Match Group, Inc. (NASDAQ:MTCH) fell nearly four percent in the pre-market trading session on Wednesday, 3 November 2021, after announcing disappointing third-quarter results along with a weak sales outlook.

The Texas-based online dating company reported earnings of 43 cents per share, down from 47 cents per share in the same period last year. Revenue came in at $802 million, up 25 percent versus the year-ago quarter. Analysts were expecting Match Group, Inc. (NASDAQ:MTCH) to post earnings of 49 cents per share on revenue of $803 million.

Total payers in the quarter increased to 16.3 million, compared to 15 million in the second quarter. Analysts were looking for payers of 15.8 million. In addition, total payers at its flagship Tinder brand advanced to 10.4 million versus 9.6 million in the prior quarter.

Looking forward, Match Group, Inc. (NASDAQ:MTCH) expects revenue in the range of $810 million to $820 million for the fourth quarter, compared to the consensus forecast of $838 million.

4. Global Payments Inc. (NYSE:GPN)

Number of Hedge Fund Holders: 66

Shares of Global Payments Inc. (NYSE:GPN) made a new 52-week low of $128.61 on Tuesday, 2 November 2021, despite beating expectations for the third-quarter results. The financial technology services provider reported adjusted earnings of $2.18 per share, beating the consensus forecast of $2.15 per share.

Global Payments Inc. (NYSE:GPN) had reported adjusted earnings of $1.71 per share in the same period last year. Revenue for the quarter jumped 14.6 percent on a year-over-year basis to $2 billion, just ahead of the consensus forecast of $1.99 billion.

In addition, the company revised its revenue outlook for the full year. Global Payments Inc. (NYSE:GPN) expects revenue in the range of $7.71 – $7.73 billion, just below the consensus forecast of $7.74 billion.

Speaking on the results, CEO Jeff Sloan said:

“We are pleased to have delivered the strongest performance in our history in the third quarter despite facing incremental challenges from COVID-19 during the period. Our businesses continued to demonstrate their resilience, and our results highlight our consistent execution across cycles. As we have throughout the pandemic, we benefit from accelerated digitization across our markets.”

3. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 67

Shares of Pfizer Inc. (NYSE:PFE) rose more than four percent on Tuesday, 2 November 2021, after delivering impressing profit and sales for the third quarter. The pharmaceutical giant reported adjusted earnings of $1.34 per share, significantly higher than 59 cents per share in the year-ago quarter.

In addition, Pfizer Inc. (NYSE:PFE) posted revenue of $24.094 for the quarter, translating to a surge of more than two folds on a year-over-year basis. The results easily surpassed analysts’ average estimate of $1.08 per share for earnings and $22.576 billion for revenue.

Pfizer Inc. (NYSE:PFE) also raised its financial outlook for 2021. It expects adjusted earnings in the range of $4.13 – $4.18 per share versus its previous guidance of $3.95 – $4.05 per share. Revenue for the full year is expected to come between $81 – $82 billion, compared to its earlier forecast of $78.0 – $80 billion.

Commenting on the quarter, CEO Albert Bourla said:

“While we are proud of our third quarter financial performance, we are even more proud of what these financial results represent in terms of the positive impact we are having on human lives around the world. For example, more than 75% of the revenues we have recorded up through third-quarter 2021 for Comirnaty have come from supplying countries outside the U.S., and we remain on track to achieve our goal of delivering at least two billion doses to low- and middle-income countries by the end of 2022.”

2. Activision Blizzard, Inc. (NASDAQ:ATVI)

Number of Hedge Fund Holders: 78

Activision Blizzard, Inc. (NASDAQ:ATVI) beat profit and sales expectations for the third quarter but issued a weak outlook for the fourth quarter. The disappointing guidance sent its shares down more than 14 percent in the pre-market trading session on Wednesday, 3 November 2021.

The video game holding company reported adjusted earnings of 89 cents per share, marginally higher than 88 cents per share in the year-ago quarter. Analysts were looking for earnings of 70 cents per share.

Revenue for the quarter came in at $2.07 billion, compared to $1.95 billion in the same period last year, and above the consensus forecast of $1.87 billion. In addition, total booking in the quarter increased to $1.88 billion, surpassing expectations of 1.87 billion.

Looking forward, Activision Blizzard, Inc. (NASDAQ:ATVI) expects adjusted revenue of $2.78 billion for the fourth quarter. However, the guidance fell short of analysts’ average estimate of $2.93 billion.

1. T-Mobile US, Inc. (NASDAQ:TMUS)

Number of Hedge Fund Holders: 100

Shares of T-Mobile US, Inc. (NASDAQ:TMUS) jumped more than five percent in the pre-market trading session on Wednesday, 3 November 2021, after delivering impressive earnings for the third quarter.

The wireless network giant reported earnings of 55 cents per share, beating expectations of 50 cents per share. In addition, T-Mobile US, Inc. (NASDAQ:TMUS) posted revenue of $19.6 billion, just below the consensus forecast of $20.2 billion. The company had earned $1 per share on revenue of $19.3 billion in the comparable period of 2020.

Net customer additions in the quarter increased by 1.3 million, bringing the total count to 106.9 million. Looking forward, T-Mobile US, Inc. (NASDAQ:TMUS) expects net customer additions in the range of 5.1 – 5.3 million for the full year.

Speaking on the results, CEO Mike Sievert said:

“Another quarter of amazing results shows that customers love T-Mobile’s unique combination of the best value, best network and best experience. With our Magenta business firing on all cylinders and our Sprint integration ahead of schedule, we are well positioned for the future — and poised to continue winning with assets and a formula for growth that is differentiated from the other wireless players. We just keep exceeding our own targets on growth, profit and synergies — and we have no plans to slow down now.”

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