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2 Stocks Move on Friday

·3 mins read

Shares of Fiserv Inc. (NASDAQ:FISV) fell almost 3% on Friday after the company posted first-quarter results on Thursday. Revenue grew 151.3% from the prior-year quarter to $3.77 billion, falling $100 million short of expectations.The company posted earnings of 99 cents per share, which was in line with estimates.

"Fiserv delivered solid financial results despite a significant impact from the Covid-19 pandemic on our business late in the quarter," CEO Jeffery Yabuki said. "Our number one priority is the safety and well-being of our associates, clients and partners. We took swift action to protect our teams and to ensure business continuity and service excellence as we navigate these unchartered waters."

Revenue more than doubled during the quarter, with $1.40 billion from the acquired First Data businesses within the Merchant Acceptance segment.

The GAAP operating margin was 16.7%, down from 24.8% in the first quarter of 2019. It included the impacts from integration costs and acquired intangible asset amortization associated with the acquisition of First Data, and also a gain resulting from the Investment Services Transaction.

The aforementioned acquisition helped to improve the cash generation. The net cash provided by operating activities grew 138% from the prior-year quarter to $888 million.

During the quarter ended Dec. 31, Larry Robbins reduced his stake by 34% to 1,782,886 shares and Mario Gabelli (Trades, Portfolio) trimmed his position by 4% to 31,443 shares. Joel Greenblatt (Trades, Portfolio), Ray Dalio (Trades, Portfolio), Lee Ainslie (Trades, Portfolio) and Jim Simons (Trades, Portfolio) sold out of the stock. Steven Cohen (Trades, Portfolio) established a new holding of 119,300 shares.

Shares of Monster Beverage Corp. (NASDAQ:MNST) jumped more than 5% after reporting first-quarter revenue of $1.06 billion and earnings of 52 cents per share on Thursday. It beat analyst's earnings estimates by 5 cents and revenue expectations by $64.03 million.

"Growth from our Monster Energy brand energy drinks internationally, as well as from our Reign Total Body Fuel high performance energy drinks, contributed to record gross and net sales for the 2020 first quarter," Chairman and CEO Rodney C. Sacks said.

The gross profit, as a percentage of net sales, was 60%, down 60 basis points from a year ago.

Operating expenses were $272.2 million, up from $262.1 million last year. Further, the distribution costs as a percentage of net sales were 3.7%, compared with 3.8% in the same quarter of 2019. The selling expenses as a percentage of net sales were 10.3%.

Moreover, the general and administrative expenses were $124.1 million, or 11.7% of net sales, compared with $122.1 million, or 12.9% of net sales, for the first quarter of 2019.

Philippe Laffont (Trades, Portfolio) boosted his holding by 375% to 73,486 shares, while Frank Sands (Trades, Portfolio) cut his stake by 26% to 7,359,544 shares and Joel Greenblatt (Trades, Portfolio) reduced his position by 63% to 14,327 shares.

Disclosure: The author holds no position in any stocks mentioned.

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This article first appeared on GuruFocus.