Send me real-time posts from this site at my email

Dow Sets New High; Tilray & Twilio Beat

Market indexes closed lower again this Wednesday — all except the Dow, which hit yet another all-time high close. The Dow was up 0.29% today, led by Verizon VZ up 5%, which revealed today a $9 billion ownership by Warren Buffett’s Berkshire Hathaway BRK.B, as well as swelling oil prices enhancing Chevron CVX shares 3% on the day. Tech sold off a bit, sending the Nasdaq down 0.58% today, with the Russell 2000 down  0.74%. The S&P 500 was basically breakeven at -0.03%.

Cannabis supply giant Tilray TLRY is up 14% in the late market, following a 9% sell-off in regular day trading. Fiscal Q3 results came out this afternoon, and were notably better than expectations: a loss of 2 cents per share on the bottom line was a big improvement on the -14 cents expected and -62 cents in the year-ago quarter. Revenues at $56.6 million beat the Zacks consensus $55.55 million on strength in its International Medical segment. The company also reported a savings of $57 million in reduced costs in the quarter.

Gross Margins rose to 29% on 3x year over year growth in average unit price of $5.97. Tilray, a Zacks Rank #3 (Hold) stock ahead of the earnings report, stands to gain from increased legalization in the U.S., with some of the biggest states in the union — notably New York — still to come at some point in the future. This is the fourth time in the past five quarters the company has beaten on earnings.

Cloud communications firm Twilio TWLO also surpassed expectations, swinging to 4 cents per share in quarterly earnings from -$0.08 estimated. This 4 cent read is identical to the year-ago quarter, on $548.1 million in sales — up 65% year over year and an improvement on the $454.64 million in the Zacks consensus. While guidance on the bottom line for next quarter has moved lower, revenues for next quarter are now expected in a range of $526 million-536 million from the $484 million our analysts had been looking for.

Questions or comments about this article and/or its author? Click here>>

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Verizon Communications Inc. (VZ): Free Stock Analysis Report
Berkshire Hathaway Inc. (BRK.B): Free Stock Analysis Report
Chevron Corporation (CVX): Get Free Report
Twilio Inc. (TWLO): Free Stock Analysis Report
Tilray, Inc. (TLRY): Free Stock Analysis Report
To read this article on click here.
Zacks Investment Research
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue