TWKS - Hot Stocks: HIMS AAON surge on earnings news; NCLH TWKS plunge

Stocks lost ground on Tuesday, with the S&P 500 slipping 0.3% and the Dow dropping by more than 200 points. The cautious trading came as investors continued to worry that the Federal Reserve would need to extend its hawkish policy to get inflation under control.

Looking at individual stocks, Him & Hers Health ( HIMS ) and AAON ( AAON ) both received a boost from stronger-than-expected earnings reports. Meanwhile, quarterly updates spurred substantial declines in Norwegian Cruise Line Holdings ( NYSE: NCLH ) and Thoughtworks Holding ( TWKS ).

Standout Gainer

Him & Hers Health ( HIMS ) received a boost from better-than-expected earnings. Shares of the online provider of health and personal care products surged nearly 17%.

The company reported earnings and revenue that exceeded projections , with a top-line figure that jumped 97% from last year. Looking ahead, HIMS predicted 2023 revenue of $735M-$755M, compared to analysts' prediction of $727M.

The earnings news sent HIMS higher by $1.62 to close at $11.27. During the session, the stock also reached an intraday 52-week high of $11.77.

The advance added to a recent uptrend, with the stock higher by 41% over the past month. Longer term, HIMS has climbed more than 120% over the past year.

Standout Decliner

A wider-than-expected loss caused a wave of selling to hit Norwegian Cruise Line Holdings ( NCLH ), sending the stock lower by more than 10%.

The cruise operator reported a Q4 loss that narrowed from last year but the figure was still steeper than analysts had predicted. Revenue more than tripled from last year to reach $1.52B.

Dragged down by the results, NCLH finished at $14.82, a decline of $1.68 on the day. The stock recorded its lowest close in more than a month.

Shares had been rising through the first six weeks of the year, reaching a 2023 closing high of $18.11 on Feb. 15. Even with Tuesday's retreat, the stock remains 25% higher on a year-to-date basis.

Notable New High

AAON ( AAON ) jumped more than 11% to reach a new 52-week high, fueled by Street-beating quarterly results.

The maker of semi-custom heating, ventilation and air conditioning equipment reported Q4 GAAP EPS of $0.71, topping expectations by nearly 27%. The revenue figure also surpassed predictions, with a top-line figure that soared 87% to $255M.

"The price increases we initiated early in the year finally began to hit the production floor, resulting in a realignment of pricing and costs," the company's CEO said. "In addition, productivity improvements and an increase in our headcount helped accelerate throughput."

AAON soared to an intraday 52-week high of $94.40. After moderating its gains later in the day, the stock closed at $90.96, an advance of $9.47 on the session.

Shares have posted a year-to-date gain of 22%, with a one-year surge of 59%.

Notable New Low

The release of a disappointing forecast sent Thoughtworks Holding ( TWKS ) to a new 52-week low. Shares of the technology consultancy dropped 17%.

While the company beat projections with its Q4 results, the firm issued a weak forecast for Q1 . TWKS predicted revenues of $303M-$305M, equating to a year-over-year slide of between 5.0% and 5.5%. For Q4, the company reported a top-line total of $310.7M, an advance of 8% from last year.

In the wake of the results, TWKS posted a decline of $1.53, finishing the session at $7.36. During the day, shares reached an intraday 52-week low of $6.56.

The slide added to a longer-term downtrend. TWKS has fallen almost 27% so far in 2023 and has declined 65% in the past year.

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