In this article, we will take a look at the top 10 gainers today. If you want to see some other stocks moving higher on Tuesday, go directly to Top 5 Gainers Today.
All three major U.S. indices turned red in mid-day trading Tuesday after the Bureau of Labor Statistics released better-than-expected job openings data for September. The data showed that job openings in the U.S. increased during the last month, contrary to the consensus forecast calling for a drop. The data also indicates that demand for labor is growing despite recent rate hikes by the Fed.
If we look at the key U.S. indices, S&P 500 was down 0.34 percent, Dow Jones Industrial Average slipped 0.28 percent and Nasdaq Composite was negative 0.60 percent as of 01:48 PM ET. Nevertheless, the better-than-expected financial results from stocks like Pfizer Inc. (NYSE:PFE), NXP Semiconductors N.V. (NASDAQ:NXPI) and Arista Networks, Inc. (NYSE:ANET) offset losses in these indices to some extent.
Shares of Pfizer Inc. (NYSE:PFE), NXP Semiconductors N.V. (NASDAQ:NXPI) and Arista Networks, Inc. (NYSE:ANET) rose this morning after beating profit and sales expectations for the third quarter.
Moreover, shares of ride-hailing giant Uber Technologies, Inc. (NYSE:UBER) also jumped on massive volume following its solid operating earnings outlook for Q4. Uber Technologies, Inc. (NYSE:UBER) projected adjusted EBITDA in the range of $600 – $630 million for the current quarter, well above analysts’ average estimate of $567.7 million.
Check out the complete article below to see some other top gainers of the day.
Photo by Austin Distel on Unsplash
10. SoFi Technologies, Inc. (NASDAQ:SOFI)
Number of Hedge Fund Holders: 22
Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) jumped more than 13 percent this morning after the online personal finance company surpassed financial expectations for the third quarter.
SoFi Technologies, Inc. (NASDAQ:SOFI) reported a loss of 9 cents per share, narrower than analysts’ average estimate for a loss of 11 cents per share. Revenue for the quarter skyrocketed 51 percent on a year-over-year basis to $419 million, crushing expectations of $393 million.
For the full year, SoFi Technologies, Inc. (NASDAQ:SOFI) raised its revenue outlook to a range of $1.517 – $1.522 billion, from its previous projection between $1.508 – $1.513 billion.
Speaking on the results, CEO of SoFi Technologies, Inc. (NASDAQ:SOFI), Anthony Noto, said in a statement:
“Our strong momentum in member, product and cross-buy adds reflects the benefits of our broad product suite and unique Financial Services Productivity Loop (FSPL) strategy. We added nearly 424,000 new members, and ended with over 4.7 million total members, up 61% year-over-year. We also added over 635,000 new products, and ended with nearly 7.2 million total products, a 69% annual increase.”
9. Henry Schein, Inc. (NASDAQ:HSIC)
Number of Hedge Fund Holders: 29
Henry Schein, Inc. (NASDAQ:HSIC) is next on the list of top 10 gainers today. The stock advanced more than 6 percent in mid-day trading Tuesday after the healthcare products supplier beat profit expectations for the third quarter.
The company reported adjusted earnings of $1.15 per share, up from $1.10 per share in the year-ago period. Revenue for the quarter slipped 3.5 percent versus last year to $3.1 billion. Analysts expected Henry Schein, Inc. (NASDAQ:HSIC) to report earnings of $1.14 per share on revenue of $3.19 billion.
Henry Schein, Inc. (NASDAQ:HSIC) also disclosed the sales results of its flagship units. Its global dental revenue slipped 2.1 percent to $1.8 billion, while global medical revenue fell 6.7 percent to $1.1 billion in the quarter.
Looking forward, Henry Schein, Inc. (NASDAQ:HSIC) expects adjusted earnings in the range of $4.79 – $4.87 per share for the full year. The outlook represents a growth of 6 – 8 percent over last year.
8. Lattice Semiconductor Corporation (NASDAQ:LSCC)
Number of Hedge Fund Holders: 33
Shares of Lattice Semiconductor Corporation (NASDAQ:LSCC) soared over 12 percent this morning after delivering solid profit and sales for the third quarter. The Oregon-based semiconductor firm reported adjusted earnings of 48 cents per share versus 28 cents per share in the third quarter of 2021. Analysts were looking for earnings of 44 cents per share.
Revenue for the quarter climbed 30.8 percent on a year-over-year basis to $172.50 million, while analysts expected Lattice Semiconductor Corporation (NASDAQ:LSCC) to produce revenue of $166.28 million.
Among other updates, Lattice Semiconductor Corporation (NASDAQ:LSCC) reported that its adjusted gross margin expanded to 69.5 percent, from 63.6 percent in the comparable period of the prior year.
Like Lattice Semiconductor Corporation (NASDAQ:LSCC), shares of Pfizer Inc. (NYSE:PFE), Arista Networks, Inc. (NYSE:ANET) and Uber Technologies, Inc. (NYSE:UBER) also rose after their recent earnings.
7. Gartner, Inc. (NYSE:IT)
Number of Hedge Fund Holders: 38
Gartner, Inc. (NYSE:IT) delivered an impressive financial performance for the third quarter and lifted its guidance for the full year. As a result, its shares rose more than 7 percent after the opening bell today.
The research and advisory company earned $2.41 per share on an adjusted basis, compared to $2.03 per share in the same period last year. In addition, Gartner, Inc. (NYSE:IT) posted revenue of $1.33 billion, up 15.2 percent over the year-ago period. The results easily surpassed the consensus of $1.87 per share for earnings and $1.29 billion for revenue.
If we look at its segment-wise sales performance, conferences revenue skyrocketed 215.5 percent, consulting revenue jumped 13 percent and research revenue rose 10.7 percent in the quarter.
Gartner, Inc. (NYSE:IT) also raised its full-year adjusted earnings outlook to at least $10.06 per share. Moreover, it expects to generate revenue of at least $5.41 billion for the same period. Previously, it was looking for adjusted earnings of at least $8.85 per share and revenue of at least $5.35 billion.
6. IDEXX Laboratories, Inc. (NASDAQ:IDXX)
Number of Hedge Fund Holders: 40
Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) advanced over eight percent in the mid-day trading session on Tuesday. The surge was driven by the pet healthcare company’s better-than-expected results for Q3.
IDEXX Laboratories, Inc. (NASDAQ:IDXX) reported earnings of $2.15 per share, up from $2.03 per share in the year-ago period and above expectations of $2.05 per share. Revenue also increased 4 percent on a year-over-year basis to $842 million, beating estimates of $831.52 million.
Looking forward, IDEXX Laboratories, Inc. (NASDAQ:IDXX) expects earnings in the range of $7.74 – $7.98 per share and revenue growth between 3.5 – 4.5 percent for the full year.
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Disclosure: None. Top 10 Gainers Today is originally published on Insider Monkey.
