HomeNewsMarket highlight: Here are Tuesday’s five top equity market picks

Market highlight: Here are Tuesday’s five top equity market picks

Ruchi Gupta
  • J.B. Hunt Transport Services and Silvergate Capital report Q4 2021 financial results
  • Activist investor wants Kolh to restructure its board
  • Microsoft is to spend $68.7 billion for an acquisition  

J.B. Hunt Transport Services tops Q4 2021 earnings estimates

J.B. Hunt Transport Services Inc. (NASDAQ: JBHT) released its Q4 results yesterday, with revenue and earnings topping Street estimates. Despite the revenue and earnings beat, shares remained in range in extended trading.

The transportation company reported a profit of $242.2 million or $2.28 per share on revenue of $3.5 billion, an annualized increase of 28%. Also, J.B. Hunt reported a considerable increase in revenue and profit in FY2021 relative to FY2020.

Macellum Advisors advise Kohl to restructure its board

On Tuesday, Kohl's Corp (NYSE: KSS) shares were up more than 5% after Macellum Advisors stated the retailer needed to take strategic initiatives to raise its share price. According to the activist investor, Kohl's should either restructure its board of directors or consider selling the company to boost operations. The move comes after the activist investor nominated two independent members to the retailer's board of directors less than a year ago.

Silvergate Capital drops on a quarterly earnings release

Silvergate Capital Corporation (NYSE: SI) fell 10% after its wholly-owned subsidiary, Silvergate Bank, released its Q4 2021 financial results. The company posted a net income of $21.4 million in Q4 2021 relative to $9.1 million in Q4 2020. Sequentially net income dropped from $23.5 million in Q3 2021.

The company handled dollar transfers of almost $219.2 billion during the quarter, representing a 270% YoY increase. In Q3 2021, the company handled $162 billion transfers.

Goldman Sachs reports FY 2021 revenue of $59.34 billion

Goldman Sachs Group Inc. (NYSE: GS) reported record fourth-quarter and annual profitability for 2021. In the fiscal year 2021, the company generated net revenues of $59.34 billion and earnings of $21.64 billion or $59.45 per diluted earnings per common share. In the fourth quarter, the company had net revenue of $12.64 billion and net earnings of $3.95 billion or $10.81 per ordinary share.

Microsoft to acquire Activision Blizzard for $68.7 billion

On Tuesday, Activision Blizzard Inc. (NASDAQ: ATVI) shares were up 30% premarket, following an announcement from Microsoft Corp (NASDAQ: MSFT) that it will purchase the video game company for $68.7 billion in a cash transaction. Activision stockholders will get $95 per share as part of the purchase, which is expected to close in fiscal 2023.

The acquisition will boost Microsoft's gaming portfolio with popular titles such as Call of Duty, Overwatch, Diablo, Candy Crush, and Warcraft.