Top 5 Gainers Today

In this article, we discuss the top 5 gainers today. If you want to see some more stocks moving higher on Tuesday, go directly to Top 10 Gainers Today.

5. Arista Networks, Inc. (NYSE:ANET)

Number of Hedge Fund Holders: 48

Shares of Arista Networks, Inc. (NYSE:ANET) rose over four percent in the mid-day trading session today. The surge came after the computer networking company delivered impressive financial results for Q3 and a solid outlook for the current quarter.

Arista Networks, Inc. (NYSE:ANET) earned $1.25 per share on an adjusted basis, significantly higher than 74 cents per share in the year-ago period and above the consensus of $1.04 per share. Revenue for the quarter skyrocketed 57 percent versus last year to $1.177 billion, smashing expectations of $1.05 billion.

For the fourth quarter, Arista Networks, Inc. (NYSE:ANET) projected revenue in the range of $1.175 – $1.2 billion. The guidance is above analysts’ average estimate of $1.09 billion.

Discussing the results, CEO Jayshree Ullal said:

“Arista continues to outpace our networking peers with record revenue in Q3 2022. Clearly, we are entering the next phase of Arista’s evolution in products, customer intimacy and new market expansion.”

4. Hologic, Inc. (NASDAQ:HOLX)

Number of Hedge Fund Holders: 55

Hologic, Inc. (NASDAQ:HOLX) posted its fiscal fourth-quarter results above expectations, sending its shares up more than 8 percent in mid-day trading Tuesday. The medical technology company reported adjusted earnings of 82 cents, ahead of the consensus of 63 cents per share.

Revenue for the quarter fell 27.6 percent versus last year to $953.3 million, but it was well above the expectations of $866.76 million. Hologic, Inc. (NASDAQ:HOLX) also released its region-wise sales results. Its U.S. sales fell 23.4 percent to $728.6 million, while international sales plummeted 38.6 percent to $224.7 million in the quarter.

For its fiscal 2023, Hologic, Inc. (NASDAQ:HOLX) guided for adjusted earnings in the range of $3.30 – $3.60 per share and revenue between $3.7 – $3.9 billion. This compares to analysts’ average estimate of $3.43 per share for earnings and $3.78 billion for revenue.

3. NXP Semiconductors N.V. (NASDAQ:NXPI)

Number of Hedge Fund Holders: 55

Shares of NXP Semiconductors N.V. (NASDAQ:NXPI) rose over four percent this morning after the Dutch semiconductor company managed to beat profit and sales estimates for the third quarter.

NXP Semiconductors N.V. (NASDAQ:NXPI) reported earnings of $2.79 per share on revenue of $3.45 billion. On the other hand, analysts were looking for earnings of $2.75 per share on sales of $3.43 billion

Among other updates, NXP Semiconductors N.V. (NASDAQ:NXPI) reported that it repurchased 2.50 million shares of its common stock for $400 million during the quarter. Moving forward, NXP guided for revenue between $3.2 – $3.4 billion for the fourth quarter.

2. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 70

Pfizer Inc. (NYSE:PFE) is next on the list of top 5 gainers today. The stock rose over two percent in mid-day trading Tuesday after the pharmaceutical giant posted better-than-expected results for the third quarter.

The New York-based company earned $1.78 per share on an adjusted basis, up from $1.27 per share in the corresponding period of 2021. Revenue came in at $22.6 billion versus $24.03 billion in the year-ago quarter. Analysts expected Pfizer Inc. (NYSE:PFE) to post earnings of $1.39 per share on revenue of $21.1 billion.

Pfizer Inc. (NYSE:PFE) also raised its financial outlook for the full year. The company now expects adjusted earnings in the range of $6.40 – $6.50 per share and revenue between $99.5 – $102 billion for fiscal 2022.

Separately, investment management firm Diamond Hill Capital talked about Pfizer Inc. (NYSE:PFE) in its third-quarter 2022 investor letter, stating:

“Also among our bottom contributors were health care products manufacturer Abbott Labs, global pharmaceutical company Pfizer Inc. (NYSE:PFE), media and technology giant Alphabet, and insurance company American International Group (AIG). Although Pfizer continues to report strong performance of its core drugs, sales of its COVID vaccine and treatment have likely peaked and sales are expected to decline going forward. We remain optimistic about the company long term as we believe management is taking the company in the right direction, focusing R&D, and making strategic acquisitions with profits generated from COVID vaccine sales.”

1. Uber Technologies, Inc. (NYSE:UBER)

Number of Hedge Fund Holders: 129

Shares of Uber Technologies, Inc. (NYSE:UBER) rallied over 15 percent this morning after issuing a solid operating earnings outlook for the fourth quarter. The ride-hailing giant expects adjusted EBITDA in the range of $600 – $630 million for the current quarter, well above the consensus of $567.7 million.

Uber Technologies, Inc. (NYSE:UBER) released the outlook along with its third-quarter results. The company reported an adjusted loss of 61 cents per share for the three months ended September 30, significantly wider than analysts’ average estimate for a loss of 18 cents per share.

On the bright side, Uber Technologies, Inc. (NYSE:UBER) posted revenue of $8.3 billion, representing a surge of 72 percent over the year-ago period and above expectations of $8.1 billion. Gross booking for the quarter rose 26 percent versus last year to $29.12 billion, but the numbers were marginally below the consensus of $29.55 billion.

You can also take a peek at Top Drug Companies In the World in 2022 and 12 Best Consumer Staple Stocks.

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