Oil rose and the dollar fell as traders speculated the Federal Reserve will not be able to lift interest rates this year. Those scenarios boosted equities, with emerging markets stocks extending a lengthy winning streak while major U.S. averages climbed near record highs again.
Acacia Communications, Inc. (ACIA)
Shares of Acacia Communications, Inc. climbed 7% on more than triple the average daily volume, representing significant follow through on the stock’s recent post-earnings surge. Last Thursday, ACIA surged 41% after the company posted quarterly earnings of 43 cents a share, easily surpassing analysts’ estimate calling for 13 cents.
ACIA reported revenue of $116 million, also easily topping the $86 million analysts forecast. For the current quarter, Acacia expects to earn 64 cents to 76 cents a share on revenue of $120 million to $128 million.
Last week, at least three analysts reiterated buy or equivalent ratings on ACIA while significantly boosting price targets on the stock. Needham & Co. raised its price target on Acacia to $100 from $65 while Cowen & Co. boosted its target on the stock to $90 from $53.
Twilio Inc (TWLO)
Fellow recent IPO Twilio Inc, a provider of cloud-computing communications services, surged 9.7% on more than quadruple the average daily volume. As is the case with ACIA, the move in Twilio shares today is follow-through on a bullish post-earnings move higher.
TWLO gained nearly 30% last week after the company reported second-quarter revenue of $64.5 million, a 70% from the year-earlier period. The company lost 7 cents a share during the quarter, but that beat analysts’ estimates.
TWLO “had 30,780 Active Customer Accounts as of June 30, 2016, compared to 21,226 Active Customer Accounts as of June 30, 2015,” according to Zacks.
Twitter Inc (TWTR)
Social media firm Twitter Inc jumped 6.8% on about double the usual turnover following reports that the company is considering a partnership with Apple Inc. (NASDAQ:AAPL). TWTR is reportedly considering creating an app for Apple TV as part of the former’s efforts to bolster its live video content offerings.
TWTR is looking to have the app ready prior to the start of the NFL regular season next month, reports The San Jose Mercury News.
California-based Twitter previously announced it will stream 10 NFL Thursday night games this year. TWTR also has deals with sports leagues, including Major League Baseball and the National Hockey League.
Shares of TWTR are down 10% this year.
At the time of this writing, Todd Shriber did not own any of the aforementioned securities.