Highlights from the Zacks Analyst Blog: Tilray, Canopy growth, Lyft, Twitter, and Cisco Systems. Zack.com discloses the list of stocks featured in the Analyst Blog. Every single day, the Zacks Equity Research analyst debate the latest events and news impacting stocks and the financial markets.
Highlights from Tuesday’s Analyst Blog:
Pots Stocks Lead Markets Higher; Plus Beats for Cisco, Twitter, and Lyft.
Market indexes completed Tuesday include none of the majors much above or below breakeven. While the s&P 500 and Dow dropped 0.11% and 0.03% respectively at the close. Small-cap Russell 2000 and the tech-heavy Nasdaq were up 0.34% and 0.14% respectively. Aiding with the growth of fuel in the Nasdaq today was the so-called “pot stocks”, as Canopy gained on news that the company expects it will become profitable overall by fiscal 2022. The stocks of the Ontario-based company secured 11.9% on the news.
Tilray shares were up about 44% on news it expects to enlarge its medical marijuana business into the UK.
Cisco Systems brought in 79 cents per share and swinging to a +ive from a year-ago quarter’s 77 cents per share. Revenues of $11.96b also topped the Zacks consensus somewhat. The networking giant has not missed a single earnings estimate in 25 quarters.
Cisco’s business made $6.39b in its fiscal Q2. And the company has increased its dividend yield by 3% to 37 cents per share. But lackluster guidance for fiscal Q3 has helped lead to a late-market slip in cisco shares, a drop of 3%. Then again, San Jose has gained 30% in share price over just the past 3 months. So, think this simply an act of booking profits.
Twitter also surpasses estimates on its latest bottom line, with 38 cents per share beating the Zacks consensus by 8 cents, on $1.29b which topped the expected $1.19b, up to 28$ over the year. However, Monetizable Daily Active Users came in short of estimates, 192 million from the 193.5 million expected. The social media major expects a 20% year-over-year increase in active users in 2021. Initially, the shares were down on the news, however, climbed more than 4% in late trading since.
Lyft stocks did better than expected on both top and bottom lines in its Q4 report, with a loss of 58 cents per share making growth over the expected -71 cents in the quarter, though down from -41 cents in the year-ago quarter. it’s been a hard year for the ride-sharing space, though Lyft’s $45.40 average share per active rider increased from the expected $42.19 per active rider. In late trading on the news, stocks have gained 6.5%.