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Pot Stocks Outperform On Tilray (TLRY) Earnings, Healthcare Leads 52 Week Highs

Wednesday, July 28, 2021 02:00 PM | Nick Dey
Pot Stocks Outperform On Tilray (TLRY) Earnings, Healthcare Leads 52 Week Highs

During trading Wednesday, 74 stocks traded to a 52-week high, while 31 stocks bottomed out at new 52-week lows. The S&P 500 is down 0.13% so far today while the Dow is down 0.37%, the Nasdaq is up 0.43%, and the Russell 2000 is up 1%.

Stocks are mixed Wednesday afternoon ahead of the July FOMC Rate decision at 2:00 p.m., which is expected to show no changes to policy. Apple (AAPL) shares are down despite better-than-expected earnings after warning that its growth may be slowing. Meanwhile, pot stock Tilray (TLRY) is up 23.41% after posting a surprise profit of $0.18 per share against estimates of a loss of $0.13 per share. The unexpected beat came just a month after the company's reverse-merger with Aphria and has sent pot stocks highers.

Sector Highlights

Healthcare stocks dominated our list of highs today with 21 out of the 74 total stocks that reached their high coming from the Healthcare sector. The Healthcare sector is outperforming the market, increasing 0.3% so far on the day. Over the last month the Healthcare sector has outperformed the market, increasing 4.27% while the S&P increased 2.82%.

Hill-Rom (HRC) stock is 8.85% higher following reports that Baxter (BAX) is considering a takeover offer for HRC. Pfizer (PFE) is 3.58% higher after beating earnings and saying that vaccines are 84% effective against severe disease and hospitalization after 6 months. Lastly, Bristol-Myers (BMY) is up 1.64% after beating earnings estimates and reporting 15.5% year-over-year revenue growth.

Healthcare: ABBV, ARVN, BIO, BMY, CRL, DHR, EW, GMED, HRC, INGN, LLY, MMSI, MTD, PFE, RGEN, RMD, SAVA, SYK, TBIO, WAT, WST

Technology had the second largest presence on our 52-week highs, with 15 out of 74 highs coming from the Technology sector. The Technology sector is outperforming the market today, decreasing 0.28% so far on the day. Over the last month the Technology sector has outperformed the market, increasing 5.29% while the S&P increased 2.82%.

Manhatttan Assoc (MANH) is up 8.17% after reporting profits of $0.61 per share, against estimates for $0.43 per share, as the company's revenue grows 22.5% year-over-year. Meanwhile, Monolithic Power (MPWR) is up 4.05% after beating earnings estimates, reporting 57.5% revenue growth as the company notches profits of $1.81 per share. Lastly, TE Connectivity (TEL) is up 3.73% after beatings earnings as well, reporting profits of $1.79 per share and year-over-year revenue growth of 50.9%.

Technology: ACN, APH, ATEN, DBX, GRMN, IT, JCOM, KEYS, MANH, MPWR, MSFT, NET, PRFT, TDY, TEL

The Lists

The following stocks traded to 52-week highs:

ABBV, ACN, AGFY, AON, APH, APTV, ARCC, ARCH, ARES, ARVN, ATEN, AWR, BIO, BMY, BSIG, BX, CBRE, COST, CRL, CUBE, CVNA, DBX, DG, DHR, EFX, EQR, EW, EXC, FB, GD, GMED, GOOGL, GRMN, HLIO, HRC, INGN, IT, JAX, JCOM, JLL, KEYS, LHX, LLY, MANH, METC, MGP, MMSI, MPWR, MSEX

The following stocks traded to 52-week lows:

ABOS, ACET, AVTE, BDSX, CAP, CHRW, CMAX, DIBS, ETNB, FF, GHRS, HAAC, HMLP, HRTG, HRTX, HYZN, HZON, INVZ, IPOD, LVOX, LYEL, ORGN, RBAC, RIDE, RTPZ, SERA, SKIL, SNTG, SVFA, UP, VITL

The following ETFs traded to a 52-week high:

IHI, IYH, PPH, VNQ, XLV

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