On today’s episode of Free Lunch, Ryan McQueeney discusses Fed chair Jerome Powell’s upcoming speech and recaps trending news from Salesforce, Tiffany, Weibo, and Cheetah Mobile. Later, he examines why Twitter has earned a Zacks Rank #1 (Strong Buy) designation.
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Free Lunch is presented by Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more.
Stocks were higher in morning trading Wednesday, as investors showed tentative optimism ahead of Fed chair Jerome Powell’s speech in New York later today. Powell’s words will be carefully dissected by investors searching for clues on the planned pace of the Fed’s rate hikes next year, which could define the direction of the market in the near future.
Ryan discussed what Powell could say just moments before the speech aired. The host also highlighted a grab bag of headlines involving Salesforce (
CRM - Free Report) , Tiffany & Co. ( TIF - Free Report) , Weibo ( WB - Free Report) , and Cheetah Mobile .
Salesforce reported earnings yesterday, topping estimates for EPS and revenue and lifting fiscal 2019 guidance. The CRM software pioneer also said it was on track to achieve revenue of at least $21 billion by fiscal 2022.
Tiffany & Co., on the other hand, missed revenue estimates and issued sluggish guidance for the full year. The jewelry company saved some face with its 10
th consecutive earnings beat, but investors were largely unimpressed, and the stock was down more than 10% in morning trading.
Chinese social media giant Weibo also reported earnings today, although the biggest story from China’s digital industry related to Cheetah Mobile, an app developer that was recently accused by BuzzFeed News of committing ad fraud. Cheetah Mobile has since denied the allegations and started to mount a defense campaign against the reports.
On the first half of today’s show, Ryan recaps each of these headlines and provides his perspective on the day’s news. Later, he teaches viewers about the power of earnings estimate revision and the Zacks Rank by examining one major stock that recently earned a #1 (Strong Buy) designation: Twitter (
TWTR - Free Report) .
Make sure to check out the show to hear more!
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