Weekly Winners | Erie Indemnity, Fair Isaac up 11%; West Pharmaceutical up 10%; Solventum up 9%; Intuit up 8%; American Tower up 7%

Tiger Newspress
02 Mar

This week, which stocks lagged or dragged? Weekly Winners column keeps up with market trends, helping Tigers sort out the week's hottest sectors, stock winners and important news.

Below are top 10 S&P 500 stock gainers for the week ended Feb. 28:

Erie Indemnity Q4 Operating Income Rises 32% to $167.3 Million

Erie Indemnity Company, which manages the Erie Insurance Exchange reciprocal, has reported its net operating income before taxes increased 31.7% in the fourth quarter of 2024 to $167.3 million compared to the $127.1 million in the fourth quarter of 2023. Erie Indemnity stock rose 11.6% this week.

Erie reported net income of $152 million, or $2.91 per diluted share in Q4 2024, compared to $110.9 million, or $2.12 per diluted share in Q4 2023.

Erie announced that its management fee revenue for policy issuance and renewal services increased $452 million, or 18.5%, in 2024 compared to 2023, and increased $96.7 million, or 16.1% in Q4 2024 compared to Q4 2023.

Fair Isaac Surges 11% After Posting Robust Q1 Earnings Results

Last week, Fair Isaac announced a partnership with TransUnion Kenya to launch new credit risk solutions to enhance financial accessibility. The news underscored the company’s forward momentum following its robust Q1 earnings results revealing a significant revenue and earnings per share increase compared to the previous year. Coupled with the company's recent update of its share repurchase activities and optimistic fiscal year guidance, this news likely amplified investor enthusiasm, contributing to the 11.09% stock price increase over the week.

Solventum Stock Rises 9% as Q4 EPS Beats

Diversified healthcare company Solventum reported fourth-quarter 2024 earnings on Thursday, that topped analysts' consensus estimates. Adjusted EPS for the quarter came in at $1.41 against an anticipated $1.31 and revenue of $2.074 billion exceeded the expected $2.050 billion. Despite this, its adjusted free cash flow fell significantly to $92 million from $459 million year over year.

Solventum operates in the healthcare industry through four main segments: MedSurg, Dental Solutions, Health Information Systems, and Purification and Filtration. The company, which spun off from 3M in May 2024, aims to provide a diversified portfolio of products and solutions across multiple healthcare needs to hedge against market downturns. Key success factors for Solventum include its ability to innovate, maintain compliance with healthcare regulations, and leverage cross-segment opportunities to enhance its competitive position.

Intuit Shares Climb After 2Q Earnings Beat, Tax Sales Growth

Intuit stock climbed 8.5% this week. The company that owns TurboTax, QuickBooks and Credit Karma said second-quarter adjusted earnings were $3.32 a share, topping the estimated $2.27 a share forecast by analysts, according to FactSet.

Intuit said it expects to have a strong tax season, as its consumer segment, which mainly comprises TurboTax, topped expectations. Second-quarter revenue from that business increased 3% to $509 million, compared with the $471.6 million expected by analysts.

For the current third quarter, Intuit said it expects revenue of $7.55 billion to $7.6 billion, ahead of analysts' estimates for $7.52 billion. Estimated adjusted earnings per share of $10.89 to $10.95 fall short of analysts' outlook by about 59 cents.

American Tower Stock Gains 7% on Q4 AFFO Beat

American Tower shares gained 7% this week in response to stellar fourth-quarter results. Its fourth-quarter 2024 adjusted funds from operations (AFFO), attributable to AMT common stockholders per share, of $2.32 beat the Zacks Consensus Estimate of $2.31 and climbed 1.3% year over year.

Results reflect a year-over-year rise in revenues, aided by revenue growth across its property and service operations segment. American Tower recorded healthy year-over-year organic tenant billings growth of 5% and total tenant billings growth of 5.7%.

Revenues were $2.48 billion, up 2% on a year-over-year basis. Total operating profit was $1.73 billion and the operating profit margin was 70%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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