U.S. stocks were bid even higher on Monday thanks to a boom in oil prices, and the major indices yet again hit new highs. The S&P 500 and the Dow Jones Industrial Average improved by 0.3% apiece, while the Nasdaq Composite gained 0.6%.
There was some activity after the bell following an earnings announcement (of sorts) from Hain Celestial Group Inc (NASDAQ:HAIN), as well as news of a big-money investor ditching some Wal-Mart Stores, Inc. (NYSE:WMT) shares. Meanwhile, this morning, Twilio Inc (NYSE:TWLO) continues to run roughshod over the markets.
Here are the big headlines sticking out Tuesday morning:
Twilio Inc (TWLO)
TWLO shares continue to make mincemeat out of any remaining bears, with shares on pace to open another few percentage points higher. That’s after a nearly 10% gain yesterday, 41% gains in the past five days and … well, you get the picture.
Twilio — a cloud communications platform that focuses on both voice and messaging apps — has been one of the year’s hottest IPOs. The company boasts breakneck growth and a client list that includes the likes of Facebook Inc (NASDAQ:FB) and Uber. It also boasts sick 2016 gains despite a late start. Shares soared more than 90% on their first day of trading on June 23, and since then, the stock has doubled.
The most recent spark pushing TWLO stock ahead was the company’s first earnings report as a publicly traded company. On Aug. 8, Twilio reported a loss of 8 cents per share that was far narrower than the Street’s expectations for a 14-cent deficit. Meanwhile, revenues screamed higher by 70% year-over-year to $64.5 million.
TWLO shares are up 3% in Tuesday’s premarket trade.
Hain Celestial Group Inc (HAIN)
HAIN shares are plummeting this morning after the organic foods company delayed the release of its quarterly earnings report.
Fourth-quarter results were pushed back due to an accounting issue. Hain Celestial said certain concessions offered to distributors are being reviewed to ensure they are being tallied in the proper quarter. Hain is also investigating the company’s inner accounting practices to ensure they are accurate.
Worse, Hain said it does not expect to meet expectations over its most recent period.
HAIN shares were off by nearly 30% in Tuesday’s early action. If those losses hold, they would erase nearly all the gains made by the company in 2016.
Wal-Mart Stores, Inc. (WMT)
WMT shares are taking a tiny dip on news that Warren Buffett and Berkshire Hathaway Inc. (NYSE:BRK.B) pulled back on the retailer in the most recent quarter.
Berkshire Hathaway reduced its stake on the retailer by 27% at the end of the second quarter, falling from 55.24 million shares to 40.23 million share. Warren Buffett’s company also revised its stake in Apple Inc. (NASDAQ:AAPL), increasing it by 55% — from 9.81 million shares to 15.23 million shares.
Wal-Mart will release its quarterly earnings report on Thursday, Aug. 18, which investing software platform Estimize predicts will be $1.04 per share, beating estimates by 2 cents.
The company recently acquired e-commerce retailer Jet.com for more than $3 billion in a bid to compete against industry giants such as Amazon.com, Inc. (NASDAQ:AMZN).
WMT stock was off fractionally in premarket trading.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.