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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 - Free Report) up 5%, which revealed today a $9 billion ownership by Warren Buffett’s Berkshire Hathaway (BRK.B - Free Report) , as well as swelling oil prices enhancing Chevron (CVX - Free Report) 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 - Free Report) 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 - Free Report) 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.
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.
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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 - Free Report) up 5%, which revealed today a $9 billion ownership by Warren Buffett’s Berkshire Hathaway (BRK.B - Free Report) , as well as swelling oil prices enhancing Chevron (CVX - Free Report) 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 - Free Report) 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 - Free Report) 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.
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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.
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