It was another good day for the Dow Jones Industrial Average, which soared 1.4% and topped the 24,000-mark for the first time ever as tax cuts may happen before the end of the year. The S&P 500 Index gained 0.8% and the Nasdaq Composite surged 0.7%.
Here’s what went down yesterday:
Novartis AG (ADR) (NVS)
Amazon.com, Inc. (NASDAQ:AMZN) has come a long way since the days when it was simply an e-commerce company as it now offers music streaming, video streaming and possibly pharmaceutical drug delivery.
The online retailer is in talks with Mylan and Novartis’ Sandoz branch to become a licensed drug wholesaler. The company could start out by selling generic medications online and move on from there.
People familiar with the matter claim the talks are advanced, despite none of these companies revealing how Amazon would enter the pharmaceutical space successfully.
NVS shares gained a fraction of a percentage after hours, while MYL popped 3.2% and AMZN edged 0.3% higher.
Nutanix Inc (NTNX)
Nutanix unveiled its latest quarterly earnings results late yesterday.
During its first quarter of fiscal 2018, the company posted a loss of 16 cents per share, which was 10 cents higher than analysts’ expectations of a loss of 26 cents per share.
Nutanix also posted strong revenue for the period, coming in at $275.6 million, which topped analysts’ consensus estimate by $8.7 million. The figure was 46.2% higher than in the year-ago quarter.
The company’s billings gained 32% year-over-year to $315.3 million, its operating expenses were $233.3 million, cash and investments gained 5% to $365.9 million and its cash flow was $10.1 million.
Nutanix added 760 new customers during its first quarter to end the period with 7,813 customers. New additions include Scholastic and Toyota.
For its second quarter, the company sees its earnings as being in the range of a loss of 22 cents to 20 cents per share, beating Wall Street’s consensus estimate of a loss of 25 cents per share.
Revenue is slated to be between $280 million and $285 million, in line with analysts’ outlook of $282 million.
NTNX stock popped 3.6% after the bell Thursday.
Zumiez Inc. (ZUMZ)
Zumiez reported for its third quarter on Thursday.
The company had a decent quarter as its earnings came in at 48 cents per share for the period, which were in line with the 48 cents per share that analysts polled by Zacks Investment Research expected.
On the revenue front, Zumiez brought in roughly $245.8 million, which was better than Zacks Investment Research’s consensus estimate of $242.88 million. The figure gained 11% year-over-year.
The apparel chain’s comparable sales rose 7.9% year-over-year.
For its fourth quarter, Zumiez forecasts that it will bring in between $291 million and $297 million, while earnings will be in the range of 78 cents to 84 cents per share.
ZUMZ stock fell 1.4% after Thursday’s market close.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.