In this article, we discuss the 5 stocks gaining value on Friday. If you want to see some more companies on the list, go directly to These 10 Stocks are Gaining Today.
5. Delta Air Lines, Inc. (NYSE:DAL)
Number of Hedge Fund Holders: 49
Shares of Delta Air Lines, Inc. (NYSE:DAL) rose over three percent in pre-market trading Friday after receiving an upgrade from Cowen. The research firm lifted its ratings for the Georgia-based airline from “Market Perform” to “Outperform,” citing a solid Q4 outlook.
The upgrade came a day after Delta Air Lines, Inc. (NYSE:DAL) issued upbeat guidance for the current quarter amid robust demand. The company now expects adjusted earnings of $1 – $1.25 per share versus the consensus of 79 cents. Moreover, revenue for the same period is expected grow in the range of 5 – 9 percent over the comparable quarter of 2019.
Delta Air Lines, Inc. (NYSE:DAL) released the outlook along with its third-quarter results. The airline reported adjusted earnings of $1.51 per share on revenue of $12.84 billion. The results were marginally below the consensus of $1.53 per share for earnings and $12.9 billion for revenue.
4. Citigroup Inc. (NYSE:C)
Number of Hedge Fund Holders: 82
Shares of Citigroup Inc. (NYSE:C) inched higher this morning after surpassing profit and sales expectations for the third quarter. The New York-based bank reported earnings of $1.63 per share, beating estimates of $1.42 per share.
In addition, Citigroup Inc. (NYSE:C) posted revenue of $18.5 billion, compared to $17.4 billion in the same period of 2021. On the other hand, analysts were looking for revenue of $18.3 billion.
Discussing the results, CEO of Citigroup Inc. (NYSE:C), Jane Fraser, said in a statement:
“We are intensely focused on supporting our clients and executing our strategy. We have made good progress on many of the core business drivers we laid out at Investor Day, despite the complex macro environment. Treasury and Trade Solutions saw revenues up 40% year-over-year, with growth across all segments, and Securities Services was up 15%. In Fixed Income, we matched last year’s showing through our strength in FX, while Equities came in lower than last year. Banking was the business most adversely impacted by the macro environment with reduced deal flows and a lower appetite for M&A. While the backdrop for wealth management was difficult, our revenues were up outside of Asia. U.S. Personal Banking further solidified its growth trajectory with double digit revenue growth in both of our cards businesses.”
3. Wells Fargo & Company (NYSE:WFC)
Number of Hedge Fund Holders: 83
Shares of Wells Fargo & Company (NYSE:WFC) slightly moved up before the opening bell today. The surge came despite the banking giant’s mixed financial results for the third quarter.
Wells Fargo & Company (NYSE:WFC) reported earnings of 85 cents per share, well below $1.17 per share in the year-ago period. Revenue increased to $19.5 billion, from $18.83 billion in the corresponding period of 2021. Analysts were looking for earnings of $1.09 per share on revenue of $18.77 billion.
Among other updates, Wells Fargo & Company (NYSE:WFC) said its net interest income climbed 36 percent on a year-over-year basis, driven by elevated interest rates and higher loan balances.
2. UnitedHealth Group Incorporated (NYSE:UNH)
Number of Hedge Fund Holders: 91
Shares of UnitedHealth Group Incorporated (NYSE:UNH) inched up one percent in pre-market trading Friday after beating financial expectations for the third quarter and lifting its outlook for the full year.
UnitedHealth Group Incorporated (NYSE:UNH) earned $5.79 per share on an adjusted basis, topping estimates of $5.42 per share. Revenue for the quarter advanced 12 percent versus last year to $80.9 billion, surpassing expectations of $80.5 billion.
Looking forward, UnitedHealth Group Incorporated (NYSE:UNH) also raised its full-year adjusted earnings outlook to a range of $21.85 – $22.05 per share, from its previous guidance between $21.40 – $21.90 per share.
1. JPMorgan Chase & Co. (NYSE:JPM)
Number of Hedge Fund Holders: 104
Shares of JPMorgan Chase & Co. (NYSE:JPM) rose over three percent after the opening bell today. The surge was driven by the bank’s better-than-expected results for the third quarter.
JPMorgan Chase & Co. (NYSE:JPM) reported earnings of $3.12 per share, down from $3.74 per share in the year-ago period but above the consensus of $2.90 per share. Revenue for the quarter rose 10 percent versus last year to $33.49 billion, beating expectations of $32.1 billion. The results were mainly helped by its net interest income, which soared 34 percent to $17.6 billion in the quarter.
In addition, JPMorgan Chase & Co. (NYSE:JPM) also released its segment-wise sales results. Its consumer & community banking revenue jumped 14 percent to $14.3 billion, commercial banking revenue climbed 21 percent to $3 billion and asset & wealth management revenue rose 6 percent to $4.5 billion in the quarter. On the downside, corporate & investment bank revenue slipped 4 percent to $11.9 billion.
You can also take a peek at 11 Best Cyclical Stocks To Buy and 13 Best Cybersecurity Stocks To Buy.
