Latest Earnings Reports Got Investors Talking about These Stocks

Skechers Misses Estimates

A global leader in footwear, Skechers USA Inc (NYSE:SKX) posted second-quarter results yesterday after the closing bell, missing analysts’ estimates and sending the stock tumbling. The company posted $877 million in revenue, up by 9.6% year-over-year, and $0.48 in earnings per share. Investors, on the other hand, were expecting $0.52 per share on revenue of $886.8 million. “The growth in the quarter was primarily attributable to a 34.6% increase in our international subsidiary and joint venture businesses and a 40.5% increase in our international company-owned Skechers retail stores,” said David Weinberg, Skechers COO and CFO. The popularity of Skechers USA Inc (NYSE:SKX) among the hedge funds followed by Insider Monkey registered a boost during the first three months of 2016, with 32 of them having reported a position at the end of March, amassing 10% of the company’s common stock.

Semiconductors In Spotlight

Flextronics International Ltd. (NASDAQ:FLEX) stock is also under pressure this morning, despite fiscal first quarter results that largely met analysts’ estimates. The company earned $0.27 per share when adjusted for one-time gains and costs, in line with expectations, while revenue of $5.88 billion topped Wall Street’s forecasts of $5.71 billion. Flextronics International Ltd. (NASDAQ:FLEX) also said it expects second quarter revenues in the range of $5.8 billion to $6.2 billion and earnings of $0.26 to $0.30 per share. This is set to put a dent in the stock’s performance, having advanced by 19% so far this year. At the end of March, roughly 17% of Flextronics International Ltd. (NASDAQ:FLEX) outstanding stock was held by 25 investors tracked by us, down from 26 a quarter earlier.

Light At The End Of The Tunnel

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) are up by nearly 10% so far today after the microchip manufacturer reported its second quarter results. The company registered a 9% increase in revenue to $1.03 billion and posted an adjusted loss of $0.05 per share, surpassing expectations of $951.3 million in revenue and a loss of $0.08 per share. Advanced Micro Devices, Inc. (NASDAQ:AMD) has been struggling amid a shrinking personal computer market and has been shifting towards other segments after posting four straight years of losses. The company has increased its collaboration with game console manufacturers, supplying them with customized graphics chips. In general, Advanced Micro Devices, Inc. (NASDAQ:AMD) is not a very popular stock among the funds tracked by Insider Monkey, with only 13 of them having reported a long position as of the end of March, down from 16 registered at the end of December.

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