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37100.0 | 2020-11-24 00:00:00 UTC | Why Aurora Cannabis Stock Jumped Over 30% Today | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-stock-jumped-over-30-today-2020-11-24 | nan | nan | What happened
After jumping 32% earlier in the session, shares of Canadian pot company Aurora Cannabis (NYSE: ACB) remain up 21% as of 10:50 a.m. EST. The stock has been on a bumpy ride this year. Though shares are down 65% year to date, they have jumped about 80% just since the U.S. election on Nov. 3.
So what
And the election is still moving shares today. News that the Trump administration has officially cleared the way for a transition to the Biden presidency gives investors in marijuana companies more optimism for the industry.
Image source: Getty Images.
Investors in pot stocks cheered the election for several reasons. Five states -- New Jersey, Arizona, Mississippi, Montana, and South Dakota -- had ballot initiatives related to legalizing marijuana, and all five passed.
Aurora shares more than doubled in just the election week alone. Part of the rise was also a belief that a Biden administration would be friendlier toward federally legalizing weed. That's not something investors can count on, though.
Now what
Aurora has spent much of this year restructuring its business and raising capital as its losses mount. The changes included cutting jobs, closing operations to consolidate production, and selling additional stock to raise money.
In its recently reported fiscal 2021 first quarter, Aurora said it had revenue of about $52 million. This was a drop from the prior-year period, which isn't something investors in a growth industry want to see.
The potentially good news for investors is the company is targeting to reach positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in its next quarter. That's where investors should be focused in the near term.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened After jumping 32% earlier in the session, shares of Canadian pot company Aurora Cannabis (NYSE: ACB) remain up 21% as of 10:50 a.m. EST. The potentially good news for investors is the company is targeting to reach positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in its next quarter. Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks. | What happened After jumping 32% earlier in the session, shares of Canadian pot company Aurora Cannabis (NYSE: ACB) remain up 21% as of 10:50 a.m. EST. News that the Trump administration has officially cleared the way for a transition to the Biden presidency gives investors in marijuana companies more optimism for the industry. Investors in pot stocks cheered the election for several reasons. | What happened After jumping 32% earlier in the session, shares of Canadian pot company Aurora Cannabis (NYSE: ACB) remain up 21% as of 10:50 a.m. EST. News that the Trump administration has officially cleared the way for a transition to the Biden presidency gives investors in marijuana companies more optimism for the industry. Here's The Marijuana Stock You've Been Waiting For A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. | What happened After jumping 32% earlier in the session, shares of Canadian pot company Aurora Cannabis (NYSE: ACB) remain up 21% as of 10:50 a.m. EST. Though shares are down 65% year to date, they have jumped about 80% just since the U.S. election on Nov. 3. News that the Trump administration has officially cleared the way for a transition to the Biden presidency gives investors in marijuana companies more optimism for the industry. |
37101.0 | 2020-11-22 00:00:00 UTC | Is Aurora Cannabis Stock Headed to $0? | ACB | https://www.nasdaq.com/articles/is-aurora-cannabis-stock-headed-to-%240-2020-11-22 | nan | nan | Aurora Cannabis (NYSE: ACB) is one of the most popular cannabis stocks in the stock market. But it shouldn't be, according to GLJ Research analyst Gordon Johnson.
Johnson believes the Canadian marijuana producer's share price will eventually plunge to $0. Essentially, he thinks Aurora will go bust and shareholders will lose all of the money they invested in its stock.
In turn, Johnson recommends that investors sell their Aurora Cannabis shares now. He even goes as far as to recommend using the stock's recent rally following the U.S. elections earlier this month to initiate a short position. Short selling is a way to potentially profit when a stock declines in value.
You should sell your Aurora Cannabis stock, according to analysts at GLJ Research. Image source: Getty Images.
Johnson is critical of Aurora's operational strategy, which has seen management alternate between a focus on premium cannabis blends and value-priced products. Neither strategy has proven successful. Through it all, Aurora has posted massive losses. It generated a $2.5 billion net loss in fiscal 2020 alone, after writing down a host of misguided investments.
With Aurora continuing to burn through alarming amounts of cash, it will likely need to dilute shareholders with public offerings to raise capital, as it did just days ago with its $172.5 million stock sale. Yet unless Aurora can reach profitability soon, investors may grow tired of throwing good money at a company that has lost more than 85% of its value over the past three years.
So, although the future of the cannabis industry remains bright, Aurora may not be able to capitalize on the opportunity. And if it doesn't right its ship soon, its stock price could decline toward Johnson's $0 target.
10 stocks we like better than Aurora Cannabis Inc.
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Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) is one of the most popular cannabis stocks in the stock market. Johnson is critical of Aurora's operational strategy, which has seen management alternate between a focus on premium cannabis blends and value-priced products. With Aurora continuing to burn through alarming amounts of cash, it will likely need to dilute shareholders with public offerings to raise capital, as it did just days ago with its $172.5 million stock sale. | Aurora Cannabis (NYSE: ACB) is one of the most popular cannabis stocks in the stock market. In turn, Johnson recommends that investors sell their Aurora Cannabis shares now. You should sell your Aurora Cannabis stock, according to analysts at GLJ Research. | Aurora Cannabis (NYSE: ACB) is one of the most popular cannabis stocks in the stock market. 10 stocks we like better than Aurora Cannabis Inc. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Joe Tenebruso has no position in any of the stocks mentioned. | Aurora Cannabis (NYSE: ACB) is one of the most popular cannabis stocks in the stock market. In turn, Johnson recommends that investors sell their Aurora Cannabis shares now. 10 stocks we like better than Aurora Cannabis Inc. |
37102.0 | 2020-11-21 00:00:00 UTC | 3 Stocks Money Managers Couldn't Stop Buying in Q3 | ACB | https://www.nasdaq.com/articles/3-stocks-money-managers-couldnt-stop-buying-in-q3-2020-11-21 | nan | nan | With all the noise surrounding the elections and coronavirus disease 2019 (COVID-19) vaccines, investors might have missed what's arguably the most important data release for the month of November. And no, I'm not talking about any Fedspeak or economic data.
This past week marked the deadline for money managers with $100 million or more in assets under management to file Form 13F with the Securities and Exchange Commission (SEC). A 13F provides an under-the-hood look at what the brightest money managers were up to during the most recent quarter (in this case, Jul. 1, 2020, to Sept. 30, 2020). Even though the portfolio snapshots provided are more than six weeks old, they still provide invaluable information to Wall Street and the investment community as to what the world's most successful investors have been doing.
After perusing a laundry list of stocks on 13F aggregator website WhaleWisdom.com, three highly unexpected stocks stood out as being especially popular with money managers in the third quarter.
Image source: Getty Images.
Aurora Cannabis
Don't adjust your laptop or computer screen -- that really says Aurora Cannabis (NYSE: ACB). During the third quarter, the aggregate number of shares held by firms and individuals required to file a 13F increased by 27.2% to 16.81 million. Billionaire Jim Simons' Renaissance Technologies opened a 447,378-share position in Q3, with Ken Griffin's Citadel Advisors upping its existing stake by almost 419,000 shares.
I'm stunned. Aurora Cannabis has been an absolutely atrocious investment for the past 19 months (down nearly 95%), and it's done little with its shareholders in mind.
This is a marijuana stock whose outstanding share count has ballooned by more than 11,800% since June 2014. With minimal access to additional lines of credit or loans, Aurora's primary financing tool has been to sell its common stock. The company has already completed $650 million in at-the-market (ATM) stock offerings since April 2019, and its board recently approved a separate $500 million ATM program. In other words, shareholders are drowning in new share issuances.
Aside from cash concerns, Aurora's (now-former) management team also buried the company under a mountain of bad deals. The July 2018 all-share acquisition of MedReleaf for $2.64 billion Canadian is unquestionably the worst pot transaction of all time. The deal was expected to yield 140,000 kilos of annual output, but will only result in 28,000 kilos of production after Aurora shuttered MedReleaf's Markham facility and sold off its 1-million-square-foot Exeter greenhouse.
But what I find unforgivable is that Aurora's execs received pay raises and bonuses last fiscal year after recording a CA$3.3 billion loss and constantly selling stock to raise capital.
I genuinely have no clue what money managers see in Aurora and would strongly discourage following in their footsteps.
Image source: Getty Images.
Eastman Kodak
Once again, not a typo. Money managers couldn't stop buying into hardware and software solutions company Eastman Kodak (NYSE: KODK). The third quarter saw aggregate share ownership by 13F filers increase by 44.1% to 15.53 million shares, with billionaire Philippe Laffont's Coatue Management opening a 1.25-million-share stake.
There are two reasons I find this surge in interest and ownership in Kodak stock especially disturbing.
First, the Eastman Kodak you see today is a shell of its former self. Even if the Kodak name still brings up fond memories of its once-dominant photography and digital camera platforms, nostalgia doesn't pay the bills. Kodak is riding a 14-year streak of declining year-over-year sales, and there's a very good chance 2020 becomes year No. 15. The company's Q3 operating results featured $249 million in sales, down from $313 million in the year-ago quarter. All three major operating segments (traditional printing, digital printing, and advanced materials and chemicals) delivered double-digit percentage sales declines.
The second issue ties into why Kodak has been so popular in recent months. In late July, the company announced that it was to be awarded a $765 million loan to develop pharmaceutical ingredients that would be used in generic drug production. But since being the expected recipient of said loan, it's been placed on hold. You see, some Kodak executives, including CEO Jim Continenza, were awarded stock options the day before the loan announcement was made. These execs knew about this announcement roughly a week before it was made public. The possible insider trading has prompted the SEC to open an investigation into the matter.
Why money managers would want to buy into a company with a failing business model that's being investigated by the SEC is beyond me.
The ES8 SUV. Image source: NIO.
NIO
Unlike Aurora Cannabis and Eastman Kodak, which have been genuine dumpster fires, money managers have absolutely been crushing it with electric vehicle (EV) manufacturer NIO (NYSE: NIO). According to data on WhaleWisdcom.com, aggregate ownership by 13F filers increased 11.4% in Q3 (46 million shares) to a little north of 450 million shares. In particular, Larry Fink's BlackRock upped its existing stake by over 10.6 million shares.
After watching Tesla moonshot higher by over 11,000% since the summer of 2010, investors have been piling into premium EV SUV manufacturer NIO, which happens to operate in China, one of the most lucrative auto markets in the world. Investors have been rewarded handsomely for that decision, with shares of NIO up nearly 1,900% since mid-March of this year.
Watching NIO's deliveries stabilize after wild swings in years past has been exciting. Over the past two quarters, NIO has delivered a combined 22,537 vehicles, which is more than it delivered in the entirety of 2019. But as revenue soars and NIO expands its production capabilities, we've watched the company's net loss shrink. That's a positive development that could have the company on track for recurring profitability by as early as 2022.
Furthermore, NIO's battery-as-a-service (BaaS) program could prove to be a serious long-term moneymaker for the company. This service will cut the initial cost of its EVs by about $10,000 and charge enrolled BaaS members about $140 a month. Members in the program will be able to swap out batteries or upgrade in the future. Like any subscription model, NIO's BaaS model offers high margins and should help keep its ES8, ES6, and EC6 crossover buyers loyal to the brand.
Of the three stocks money managers couldn't top buying in Q3, this looks to be the only one with bright long-term prospects.
10 stocks we like better than Aurora Cannabis Inc.
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David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Aurora Cannabis Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis Don't adjust your laptop or computer screen -- that really says Aurora Cannabis (NYSE: ACB). Billionaire Jim Simons' Renaissance Technologies opened a 447,378-share position in Q3, with Ken Griffin's Citadel Advisors upping its existing stake by almost 419,000 shares. Even if the Kodak name still brings up fond memories of its once-dominant photography and digital camera platforms, nostalgia doesn't pay the bills. | Aurora Cannabis Don't adjust your laptop or computer screen -- that really says Aurora Cannabis (NYSE: ACB). The third quarter saw aggregate share ownership by 13F filers increase by 44.1% to 15.53 million shares, with billionaire Philippe Laffont's Coatue Management opening a 1.25-million-share stake. Unlike Aurora Cannabis and Eastman Kodak, which have been genuine dumpster fires, money managers have absolutely been crushing it with electric vehicle (EV) manufacturer NIO (NYSE: NIO). | Aurora Cannabis Don't adjust your laptop or computer screen -- that really says Aurora Cannabis (NYSE: ACB). After perusing a laundry list of stocks on 13F aggregator website WhaleWisdom.com, three highly unexpected stocks stood out as being especially popular with money managers in the third quarter. The third quarter saw aggregate share ownership by 13F filers increase by 44.1% to 15.53 million shares, with billionaire Philippe Laffont's Coatue Management opening a 1.25-million-share stake. | Aurora Cannabis Don't adjust your laptop or computer screen -- that really says Aurora Cannabis (NYSE: ACB). Unlike Aurora Cannabis and Eastman Kodak, which have been genuine dumpster fires, money managers have absolutely been crushing it with electric vehicle (EV) manufacturer NIO (NYSE: NIO). According to data on WhaleWisdcom.com, aggregate ownership by 13F filers increased 11.4% in Q3 (46 million shares) to a little north of 450 million shares. |
37103.0 | 2020-11-20 00:00:00 UTC | Bears Will Win Big as It Bets Heavily Against Aurora Cannabis Stock | ACB | https://www.nasdaq.com/articles/bears-will-win-big-as-it-bets-heavily-against-aurora-cannabis-stock-2020-11-20 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Investors that impulse bought cannabis stocks following the Democrats winning the U.S. Presidential elections will regret it. The mid-November spike that sent Aurora Cannabis (NYSE:ACB) did not last long. The company’s quarterly earnings report at first sent Aurora Cannabis stock above $12.00. But like clockwork, management took advantage of gullible investors by selling $150 million worth of shares.
Investors who still own shares should think of selling it to get what they can.
Q1/2021 Results Lifted Aurora Cannabis
On Nov. 9, the company posted revenue falling by 1% sequentially to 67.8 million CAD ($51.8 million) . This is almost flat from the prior quarter’s 67.5 million CAD of cannabis net revenue. It posted an adjusted EBITDA loss of 57.9 million CAD. The company highlighted the adjusted gross margin, before fair value adjustments, at 48%. CEO Miguel Martin once again suggested that the company is on the way to ultimately achieve positive cash flow and sustainable profitability.
As shown below, Aurora failed to beat analyst expectations most of the time. It only exceeded estimates in two of the six past quarters:
Surprise Type Announce Date Period End Date Actual Est. Surprise (%)
EPS EPS
Negative 11/9/2020 9/30/2020 ($0.64) ($0.24) -166.70%
Positive 9/22/2020 6/30/2020 ($0.13) ($0.30) 56.70%
Negative 5/14/2020 3/31/2020 ($0.74) ($0.53) -39.60%
Negative 2/13/2020 12/31/2019 ($0.18) ($0.06) -200.00%
Positive 11/14/2019 9/30/2019 $0.01 ($0.03) –
Negative 5/14/2019 – ($0.08) ($0.03) -166.70%
Chart courtesy of Stock Rover
When it missed consensus estimates, the company tended to underwhelm by a mile.
To translate, investors will have to wait longer. The Q1 results are transitional because they exclude the Nordic 1 ramp-up costs. This allowed it to post a gross margin of 52% after adjustments. Chances are high that the company will keep burning cash. To stay afloat, it will need to either sell shares or take on more debt.
7 Cyclical Stocks Still Hoping for Another Stimulus Round
As of Nov. 6, Aurora had cash of approximately 250 million CAD. For the quarter ended June 2020, it had long-term debt of $217.2 million.
Share Sale
On Nov. 11, Aurora priced 20 million shares at $7.50, raising $150 million. The offering will not stop Aurora Cannabis stock from selling shares again in the near-term. if its EBITDA loss continues at 57.9 million CAD quarterly, then the company will burn through those funds raised in less than three quarters. After quickly selling shares not long after the stock’s rally, investors cannot trust the company. Markets acted as though Aurora did not reverse split its shares 12:1 just to keep its listing on the Nasdaq.
Growth Catalyst in the U.S.
CEO Martin said that potential federal action in the States could help Aurora’s business. On the conference call, he said, “We had four really important states pass comprehensive cannabis legislation, and so that starts to move the ball forward in terms of when do you get to this tipping point.”
So, the CEO is speculating that the U.S. and other countries are opening up to cannabinoids containing Tetrahydrocannabinol (THC). Aurora has lots of experience working with Canadian LPs, as the federal government oversaw the manufacturing, production, packaging, and sales and marketing of cannabis. Conversely, the company faced rigorous headwinds operating in Germany, Poland, and Israel. With that experience, Aurora might have expertise in successfully expanding in the U.S. market.
Fair Value and Your Takeaway
Investors may assume a perpetuity growth rate of no more than 4%. In a 5-year discounted cash flow growth exit model, Aurora Cannabis stock is worth ~$3.50. Readers may use the assumptions below. The forecast assumes that Aurora will continue to struggle in growing sales in the future.
Metrics Range Conclusion
Discount Rate 10.5% – 9.0% 10.00%
Perpetuity Growth Rate 3.5% – 4.5% 4.00%
Fair Value $2.65 – $5.41 $3.46
Model courtesy of finbox
Readers may click on the finbox link to change the assumptions. For example, the discount rate will fall and the growth rate will rise in a more optimistic forecast. This view would lift the fair value estimate.
With that much downside risk, investors should let the market selling end before speculating on this stock. Bears have a 19.4% short position against the stock. They will stand to gain more as shares drift lower in the quarters ahead.
Disclosure: On the date of publication, Chris Lau did not have (either directly or indirectly) any positions in the securities mentioned in this article.
The post Bears Will Win Big as It Bets Heavily Against Aurora Cannabis Stock appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The mid-November spike that sent Aurora Cannabis (NYSE:ACB) did not last long. CEO Miguel Martin once again suggested that the company is on the way to ultimately achieve positive cash flow and sustainable profitability. On the conference call, he said, “We had four really important states pass comprehensive cannabis legislation, and so that starts to move the ball forward in terms of when do you get to this tipping point.” So, the CEO is speculating that the U.S. and other countries are opening up to cannabinoids containing Tetrahydrocannabinol (THC). | The mid-November spike that sent Aurora Cannabis (NYSE:ACB) did not last long. Q1/2021 Results Lifted Aurora Cannabis On Nov. 9, the company posted revenue falling by 1% sequentially to 67.8 million CAD ($51.8 million) . In a 5-year discounted cash flow growth exit model, Aurora Cannabis stock is worth ~$3.50. | The mid-November spike that sent Aurora Cannabis (NYSE:ACB) did not last long. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Investors that impulse bought cannabis stocks following the Democrats winning the U.S. Presidential elections will regret it. Q1/2021 Results Lifted Aurora Cannabis On Nov. 9, the company posted revenue falling by 1% sequentially to 67.8 million CAD ($51.8 million) . | The mid-November spike that sent Aurora Cannabis (NYSE:ACB) did not last long. Investors who still own shares should think of selling it to get what they can. Q1/2021 Results Lifted Aurora Cannabis On Nov. 9, the company posted revenue falling by 1% sequentially to 67.8 million CAD ($51.8 million) . |
37104.0 | 2020-11-20 00:00:00 UTC | Why the Bull Run in Canopy Growth Will Last | ACB | https://www.nasdaq.com/articles/why-the-bull-run-in-canopy-growth-will-last-2020-11-20 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Since early 2019, Canopy Growth (NASDAQ:CGC) has suffered a grueling bear move. During this period, CGC stock has gone from $50 to just under $24. The market capitalization is now at $8.9 billion.
Source: Shutterstock
Of course, the whole industry has been under pressure. Just look at the poor performances of stocks like Tilray (NASDAQ:TLRY), Aurora Cannabis (NYSE:ACB), Cronos (NASDAQ:CRON), and Aphria (NASDAQ:APHA). They have all lost significant amounts of their values.
There have certainly been good reasons for all this. First of all, the cannabis sector had been bolstered by exuberant expectations and valuations got to unsustainable levels.
Next, the supply-demand situation in Canada got out of whack. There was simply too much production. It also did not help that the Canadian government was not proactive in dealing with black-market activities.
8 Tech Stocks That Could Benefit from a Biden Presidency
But despite all this, the fact is that things have been improving. Although, in terms of investing in the sector, it’s still probably best to focus on quality – such as CGC stock.
The Latest
The most recent earnings report from CGC illustrates how the underlying business is improving nicely. Revenues soared by 77% on a year-over-year basis to 135.3 million CAD, which beat the Wall Street consensus of 117.2 million CAD.
A big part of the growth came from the Canadian market for recreational cannabis. The market share is now at an impressive 15.5%, up about 2% on a quarter-over-quarter basis. There were also gains of 1.9% in Ontario, which has the largest population in Canada.
Part of the success has been the aggressive rollout of retail operations. But CGC has also the advantage of a portfolio of compelling brands like Martha Stewart CBD, BioSteel, This Works, and Storz & Bickel. It helps that the company has a strategic relationship with Constellation Brands (NYSE:STZ), which is one of the world’s top players in the markets for beer and wine.
But the biggest potential catalyst for CGC stock is the massive U.S. market. Joe Biden’s win for the presidency will likely mean more favorable laws for the cannabis industry. He has made it clear that he does not want to incarcerate people for its use.
There is also wide-spread public approval for cannabis in America. According to a poll from the Pew Research Center, about 91% said that it should be legal for medical purposes and 59% for recreational use.
This sentiment has been borne out by the local results of the 2020 election. There was passage of ballots for legalization in states like Arizona, Mississippi, Montana, New Jersey and South Dakota. In all, there are 36 states that have similar measures. In light of this, there will be more pressure on the federal government to take action.
Keep in mind that CGC is well prepared to benefit. The company has been spending large resources in developing the right brands and distribution in the U.S. Another key has been purchase of 70% of the equity in Acreage Holdings (OTCMKTS:ACRGF). The company has an end-to-end platform in 15 states, covering cultivation, processing, dispensing and branding.
Bottom Line on CGC Stock
CGC has about $1.7 billion in the bank. So yes, the company has enough resources to pursue its U.S. strategy. CGC is also in a position to pick up assets at lower valuations. In fact, there is likely to be a major wave of consolidation in the next couple years.
Now the U.S. market will still take some time to get critical mass. But with the Canada picking up momentum – which is also the case with other countries across the globe – CGC stock could remain in the bull mode for some time.
On the date of publication, Tom Taulli did not have (either directly or indirectly) any positions in any of the securities mentioned in this article.
Tom Taulli (@ttaulli) is the author of various books on investing and technology, including Artificial Intelligence Basics, High-Profit IPO Strategies and All About Short Selling. He is also the founder of WebIPO, which was one of the first platforms for public offerings during the 1990s.
The post Why the Bull Run in Canopy Growth Will Last appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Just look at the poor performances of stocks like Tilray (NASDAQ:TLRY), Aurora Cannabis (NYSE:ACB), Cronos (NASDAQ:CRON), and Aphria (NASDAQ:APHA). It helps that the company has a strategic relationship with Constellation Brands (NYSE:STZ), which is one of the world’s top players in the markets for beer and wine. The company has been spending large resources in developing the right brands and distribution in the U.S. Another key has been purchase of 70% of the equity in Acreage Holdings (OTCMKTS:ACRGF). | Just look at the poor performances of stocks like Tilray (NASDAQ:TLRY), Aurora Cannabis (NYSE:ACB), Cronos (NASDAQ:CRON), and Aphria (NASDAQ:APHA). InvestorPlace - Stock Market News, Stock Advice & Trading Tips Since early 2019, Canopy Growth (NASDAQ:CGC) has suffered a grueling bear move. A big part of the growth came from the Canadian market for recreational cannabis. | Just look at the poor performances of stocks like Tilray (NASDAQ:TLRY), Aurora Cannabis (NYSE:ACB), Cronos (NASDAQ:CRON), and Aphria (NASDAQ:APHA). InvestorPlace - Stock Market News, Stock Advice & Trading Tips Since early 2019, Canopy Growth (NASDAQ:CGC) has suffered a grueling bear move. Bottom Line on CGC Stock CGC has about $1.7 billion in the bank. | Just look at the poor performances of stocks like Tilray (NASDAQ:TLRY), Aurora Cannabis (NYSE:ACB), Cronos (NASDAQ:CRON), and Aphria (NASDAQ:APHA). 8 Tech Stocks That Could Benefit from a Biden Presidency But despite all this, the fact is that things have been improving. A big part of the growth came from the Canadian market for recreational cannabis. |
37105.0 | 2020-11-20 00:00:00 UTC | This 1 Chart Explains Why Aurora Cannabis Has Been Such a Disaster | ACB | https://www.nasdaq.com/articles/this-1-chart-explains-why-aurora-cannabis-has-been-such-a-disaster-2020-11-20 | nan | nan | Aurora Cannabis (NYSE: ACB) remains one of the most widely bought marijuana stocks on the market. It's even the most popular pot stock on the Robinhood trading platform.
However, Aurora has been an absolute failure for investors. If you'd bought $10,000 of Aurora's shares three years ago, you'd now have only around $1,430. If you'd invested the same amount at the beginning of this year, you'd have less than $2,900.
This popular pot stock has been like poison for investors' portfolios, and this one chart explains why.
Aurora's dilution solution
The chart below illustrates the inverse relationship between Aurora's increasing number of diluted shares and its decreasing share price. This relationship makes sense when you think about it. A higher number of shares makes existing shares less valuable.
ACB data by YCharts
How would Aurora's shares have performed without all of its dilution-causing stock offerings? There's no way to know for sure since multiple factors impact a stock's performance. However, here's another chart that could help us get a feel for what might have been:
ACB data by YCharts
The only difference between the first and second charts is that the latter includes Aurora's market cap percentage change over the last three years. The company's market cap declined during the period but not nearly by as much as its share price fell. Aurora's stock offerings caused its share price to plunge because of dilution, but didn't impact its market cap.
It's kind of like having a pizza that you initially cut into four big slices. You then keep cutting the pizza into more slices -- eight, 16, etc. With every cut, each slice of pizza becomes smaller, like Aurora's share price when new shares were issued. However, like the size of the pizza itself, Aurora's market cap remained unchanged.
Only a symptom
Aurora's dilution, though, is really only a symptom of the company's chief problem: its continuing losses. If the Canadian cannabis producer were churning out hefty profits, Aurora wouldn't need to issue new shares to raise additional cash.
But Aurora isn't anywhere close to delivering strong profits. In its latest quarterly update, the company posted a net loss from continuing operations of 107.2 million Canadian dollars.
Image source: Getty Images.
The company did, however, state that it's on track to generate positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in the current quarter. That would certainly be an important step in achieving consistent profitability.
Unfortunately, just one week after reporting its fiscal 2021 first-quarter results, Aurora announced yet another public stock offering. As its number of outstanding shares went up again, its share price went down.
The missing puzzle piece for Aurora
Aurora's management team has done a good job of cutting costs. Because of their efforts, the company seems to have a pretty good shot at meeting the goal of positive adjusted EBITDA when Aurora provides its next quarterly update.
However, there's still a missing puzzle piece that Aurora needs to truly turn things around -- strong revenue growth. The company delivered minimal revenue growth in its latest quarter and even lost ground in the important Canadian recreational marijuana market.
Investors have long hoped that potential marijuana legalization at the federal level in the U.S. could give Aurora a huge new growth opportunity. Any major changes to U.S. marijuana laws appear to be unlikely, though, assuming the GOP retains control of the U.S. Senate.
Aurora can only cut costs so far before the reductions hurt the company more than they help it. The company absolutely needs to return to growth in the Canadian recreational market while simultaneously building its international medical cannabis sales. Until it can, Aurora will probably have to continue resorting to the dilution solution -- and that's not good at all for investors.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) remains one of the most widely bought marijuana stocks on the market. ACB data by YCharts How would Aurora's shares have performed without all of its dilution-causing stock offerings? However, here's another chart that could help us get a feel for what might have been: ACB data by YCharts The only difference between the first and second charts is that the latter includes Aurora's market cap percentage change over the last three years. | Aurora Cannabis (NYSE: ACB) remains one of the most widely bought marijuana stocks on the market. ACB data by YCharts How would Aurora's shares have performed without all of its dilution-causing stock offerings? However, here's another chart that could help us get a feel for what might have been: ACB data by YCharts The only difference between the first and second charts is that the latter includes Aurora's market cap percentage change over the last three years. | Aurora Cannabis (NYSE: ACB) remains one of the most widely bought marijuana stocks on the market. ACB data by YCharts How would Aurora's shares have performed without all of its dilution-causing stock offerings? However, here's another chart that could help us get a feel for what might have been: ACB data by YCharts The only difference between the first and second charts is that the latter includes Aurora's market cap percentage change over the last three years. | Aurora Cannabis (NYSE: ACB) remains one of the most widely bought marijuana stocks on the market. ACB data by YCharts How would Aurora's shares have performed without all of its dilution-causing stock offerings? However, here's another chart that could help us get a feel for what might have been: ACB data by YCharts The only difference between the first and second charts is that the latter includes Aurora's market cap percentage change over the last three years. |
37106.0 | 2020-11-18 00:00:00 UTC | If You’re Hoping for Aurora Cannabis Stock to Rebound, Look Abroad | ACB | https://www.nasdaq.com/articles/if-youre-hoping-for-aurora-cannabis-stock-to-rebound-look-abroad-2020-11-18 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Though the novel coronavirus has forced a rethink in many sectors, particularly those involving holistic or natural therapeutics, the cloud hanging over Aurora Cannabis (NYSE:ACB) is very dark indeed. Sure, Aurora Cannabis stock has finally demonstrated some signs of life. However, it’s going to take a gargantuan effort – and some good fortune heading its way – for ACB to make sense.
Source: Jarretera / Shutterstock.com
As you know, the cannabis sector has been in bloom recently due to the electoral victory of Joe Biden and Kamala Harris. While I don’t want to dismiss entirely the ongoing lawsuits filed by the Trump campaign, the probability is very much that – unless team Trump can show hard evidence to the contrary – that Biden will be the President next year.
Naturally, Aurora Cannabis stock spiked higher on the development. After a torrential year with the pandemic, the ensuing economic crisis and the subsequent political vitriol, it was nice to get some clarity regarding future governance.
More importantly for the cannabis sector, Biden and Harris have committed to decriminalizing marijuana, which is a significant step forward.
7 Best 5G Stocks to Buy for the Next Revolution in Tech
However, before you dive into Aurora Cannabis stock, be mindful that decriminalization doesn’t equate to full legalization. Historically, Biden has been opposed to recreational marijuana, marking a conspicuous contrast with the progressive element of the Democratic party.
Although he may cave in – after all, cannabis represents strong economic opportunities that we desperately need – it’s no guarantee.
For one thing, Biden may not have full control of the government. Realistically, the Democrats must win both runoff races in Georgia to secure the tie-breaking vote in the Senate. It could happen but the political divisiveness in our nation makes this unlikely.
Moreover, let’s not forget the main reason why skepticism should be a part of your analysis on Aurora Cannabis stock. Frankly, the underlying company has been a disappointment, evaporating half of its fiscal 2019 asset base due to paying egregiously for overpriced acquisitions.
In other words, Aurora is in a rough situation, which may lead to further volatility down the road.
A Long Shot in Japan Could Lift Aurora Cannabis Stock
If I were a betting man, I’d say that Aurora Cannabis stock has a better shot of rising higher from here than President Trump does of winning the 2020 election. Of course, that’s not saying much because the chances of Trump winning would involve a legitimately disputed election being decided by Congress.
Still, here’s the thing – most everybody has dumped on Aurora Cannabis stock for the obvious reasons and then some. Personally, I’d rather not repeat the talking point. Instead, let’s do this – ACB is probably a name 90% of investors should avoid. But if you’re in that 10%, all roads may lead to Japan.
First, one of the reasons why Wall Street initially appreciated Aurora Cannabis was the company’s advantage in international expansion. At the time, global legislative momentum suggested that cannabis was steadily shedding its stigmatized image. And among the key markets was Asia, specifically for medicinal and therapeutic applications.
Second, the novel coronavirus pandemic is the perfect catalyst for a retry in Asia. For instance, the Washington Post detailed how Covid-19’s disruptiveness impacted Americans sleeping schedule.
Potentially, cannabis-based products such as cannabidiol (CBD) – essentially cannabis without the high – can offer natural relief. With cases starting to spike throughout the world, the importance of CBD could impact Asia.
Third, Japan is an incredibly dynamic market, if cannabis evangelization can take root. Under strict government protocol, CBD is actually legal in Japan. You can color me surprised. And according to Japanese Clinical Association of Cannabinoids chief director Dr. Minoru Arakaki, “Japan has a history of cannabis cultivation of more than 10,000 years.”
I guess you learn something new every day!
Stress and CBD
Source: Chart by Josh Enomoto
Should public opinion in conservative Japan change, however, CBD could very well soar. According to a 2016 Japanese survey on stress levels in the nation, an average of 42% of males and nearly 52% of females felt stress across age brackets from 12 years and higher.
Contrast that with the U.S. From age brackets of 18 years and older, an average of 43% felt stress. However, from 50 years and older, American average stress levels dropped to 31%. That means the usage of CBD for stress-related reasons will be limited to younger, working individuals.
But that’s not the case in Japan. Generally, from 20 years to the great beyond, the Japanese have a consistent level of high stress. Cynically, this translates to a higher demand for cannabis firms that specialize in or are willing to pivot to Japan-compliant CBD products.
Too Soon, Junior!
Still, whenever I think about Aurora Cannabis stock, I can’t help but think about the drag racing scene around the middle of the film, The Fast and The Furious. In it, one of the protagonist’s friends ends up racing the story’s main antagonist. At first, the good guy seems to be pulling ahead for the victory after boosting his car with NOS.
Unfortunately, the antagonist had been doing these races for so long. With a wry smile, he responded, “Too soon, junior!”
What in the heck does this have to do with Aurora Cannabis stock? Well, the underlying company may have hit the NOS button prematurely by expending its resources on overpriced assets.
Further, with the rough shape that the company is in, I’m not sure if management is willing to take on a far-flung Hail Mary in Japan. Instead, the execs probably want to focus on encouraging developments in the U.S.
Which is a darn shame because the Japanese market, with enough time, could be huge for any company willing to make the bet on cannabis evangelization. Further, the added stress of the coronavirus could make the Japanese consumer even more willing to try CBD.
Perhaps Aurora can hang around for it to take a shot. But really, this is an extremely high-risk, high-reward idea.
On the date of publication, Josh Enomoto held a long position in ACB.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
The post If You’re Hoping for Aurora Cannabis Stock to Rebound, Look Abroad appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Though the novel coronavirus has forced a rethink in many sectors, particularly those involving holistic or natural therapeutics, the cloud hanging over Aurora Cannabis (NYSE:ACB) is very dark indeed. However, it’s going to take a gargantuan effort – and some good fortune heading its way – for ACB to make sense. Instead, let’s do this – ACB is probably a name 90% of investors should avoid. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Though the novel coronavirus has forced a rethink in many sectors, particularly those involving holistic or natural therapeutics, the cloud hanging over Aurora Cannabis (NYSE:ACB) is very dark indeed. However, it’s going to take a gargantuan effort – and some good fortune heading its way – for ACB to make sense. Instead, let’s do this – ACB is probably a name 90% of investors should avoid. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Though the novel coronavirus has forced a rethink in many sectors, particularly those involving holistic or natural therapeutics, the cloud hanging over Aurora Cannabis (NYSE:ACB) is very dark indeed. However, it’s going to take a gargantuan effort – and some good fortune heading its way – for ACB to make sense. Instead, let’s do this – ACB is probably a name 90% of investors should avoid. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Though the novel coronavirus has forced a rethink in many sectors, particularly those involving holistic or natural therapeutics, the cloud hanging over Aurora Cannabis (NYSE:ACB) is very dark indeed. However, it’s going to take a gargantuan effort – and some good fortune heading its way – for ACB to make sense. Instead, let’s do this – ACB is probably a name 90% of investors should avoid. |
37107.0 | 2020-11-17 00:00:00 UTC | CANADA STOCKS-TSX futures down as weaker oil, rising virus cases weigh | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-down-as-weaker-oil-rising-virus-cases-weigh-2020-11-17 | nan | nan | Nov 17 (Reuters) - Canadian stock futures fell on Tuesday, dragged lower by weaker crude prices and concerns around rising global cases of the novel coronavirus, with investors now awaiting domestic wholesale trade data for September.
Brent crude LCOc1 futures fell 0.37%, while U.S. West Texas Intermediate (WTI) crude futures CLc1 shed 0.27%, as oil prices remained under pressure after many Western governments imposed new lockdowns to curb the spread of COVID-19.
December futures on the S&P/TSX index SXFc1 were down 0.46% at 7:00 a.m. ET.
Canadian wholesale trade data for September is due at 8:30 a.m. ET (1230 GMT).
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 1.28% higher at 16,889.8 on Monday.
Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.53% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.45% and Nasdaq 100 e-mini futures NQc1 were up 0.3%.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Aurora Cannabis ACB.TO: ATB Capital Markets raises to "sector perform" from "underperform"
Champion Iron Ltd CIA.TO: Laurentian Bank Securities raises PT to C$5.35 from C$5
Exchange Income Corp EIF.TO: Scotiabank raises target price to C$38 from C$32
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1886.9; -0.05% GOL/
US crude CLc1: $41.23; -0.27% O/R
Brent crude LCOc1: $43.66; -0.37% O/R
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 Import prices mm for Oct: Expected 0.2%; Prior 0.3%
0830 Export prices mm for Oct: Expected 0.3%; Prior 0.6%
0830 Import prices yy for Oct: Prior -1.1%
0830 Retail sales ex-autos mm for Oct: Expected 0.6%; Prior 1.5%
0830 Retail sales mm for Oct: Expected 0.5%; Prior 1.9%
0830 Retail ex gas/autos for Oct: Prior 1.5%
0830 Retail control for Oct: Expected 0.5%; Prior 1.4%
0830 Retail sales YoY for Oct: Prior 5.36%
0915 Industrial production mm for Oct: Expected 1.0%; Prior -0.6%
0915 Capacity utilization SA for Oct: Expected 72.3%; Prior 71.5%
0915 Manufacturing output mm for Oct: Expected 1.0%; Prior -0.3%
0915 Industrial production YoY for Oct: Prior -7.28%
1000 Business inventories mm for Sep: Expected 0.6%; Prior 0.3%
1000 Retail inventories ex-auto rev for Sep: Prior 0.9%
1000 NAHB Housing Market Index for Nov: Expected 85; Prior 85
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1= C$1.31)
(Reporting by Amal S in Bengaluru; editing by Uttaresh.V)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis ACB.TO: ATB Capital Markets raises to "sector perform" from "underperform" Champion Iron Ltd CIA.TO: Laurentian Bank Securities raises PT to C$5.35 from C$5 Exchange Income Corp EIF.TO: Scotiabank raises target price to C$38 from C$32 COMMODITIES AT 7:00 a.m. Nov 17 (Reuters) - Canadian stock futures fell on Tuesday, dragged lower by weaker crude prices and concerns around rising global cases of the novel coronavirus, with investors now awaiting domestic wholesale trade data for September. Brent crude LCOc1 futures fell 0.37%, while U.S. West Texas Intermediate (WTI) crude futures CLc1 shed 0.27%, as oil prices remained under pressure after many Western governments imposed new lockdowns to curb the spread of COVID-19. | Aurora Cannabis ACB.TO: ATB Capital Markets raises to "sector perform" from "underperform" Champion Iron Ltd CIA.TO: Laurentian Bank Securities raises PT to C$5.35 from C$5 Exchange Income Corp EIF.TO: Scotiabank raises target price to C$38 from C$32 COMMODITIES AT 7:00 a.m. Nov 17 (Reuters) - Canadian stock futures fell on Tuesday, dragged lower by weaker crude prices and concerns around rising global cases of the novel coronavirus, with investors now awaiting domestic wholesale trade data for September. 0830 Import prices mm for Oct: Expected 0.2%; Prior 0.3% 0830 Export prices mm for Oct: Expected 0.3%; Prior 0.6% 0830 Import prices yy for Oct: Prior -1.1% 0830 Retail sales ex-autos mm for Oct: Expected 0.6%; Prior 1.5% 0830 Retail sales mm for Oct: Expected 0.5%; Prior 1.9% 0830 Retail ex gas/autos for Oct: Prior 1.5% 0830 Retail control for Oct: Expected 0.5%; Prior 1.4% 0830 Retail sales YoY for Oct: Prior 5.36% 0915 Industrial production mm for Oct: Expected 1.0%; Prior -0.6% 0915 Capacity utilization SA for Oct: Expected 72.3%; Prior 71.5% 0915 Manufacturing output mm for Oct: Expected 1.0%; Prior -0.3% 0915 Industrial production YoY for Oct: Prior -7.28% 1000 Business inventories mm for Sep: Expected 0.6%; Prior 0.3% 1000 Retail inventories ex-auto rev for Sep: Prior 0.9% 1000 NAHB Housing Market Index for Nov: Expected 85; Prior 85 | Aurora Cannabis ACB.TO: ATB Capital Markets raises to "sector perform" from "underperform" Champion Iron Ltd CIA.TO: Laurentian Bank Securities raises PT to C$5.35 from C$5 Exchange Income Corp EIF.TO: Scotiabank raises target price to C$38 from C$32 COMMODITIES AT 7:00 a.m. Nov 17 (Reuters) - Canadian stock futures fell on Tuesday, dragged lower by weaker crude prices and concerns around rising global cases of the novel coronavirus, with investors now awaiting domestic wholesale trade data for September. Brent crude LCOc1 futures fell 0.37%, while U.S. West Texas Intermediate (WTI) crude futures CLc1 shed 0.27%, as oil prices remained under pressure after many Western governments imposed new lockdowns to curb the spread of COVID-19. | Aurora Cannabis ACB.TO: ATB Capital Markets raises to "sector perform" from "underperform" Champion Iron Ltd CIA.TO: Laurentian Bank Securities raises PT to C$5.35 from C$5 Exchange Income Corp EIF.TO: Scotiabank raises target price to C$38 from C$32 COMMODITIES AT 7:00 a.m. Nov 17 (Reuters) - Canadian stock futures fell on Tuesday, dragged lower by weaker crude prices and concerns around rising global cases of the novel coronavirus, with investors now awaiting domestic wholesale trade data for September. December futures on the S&P/TSX index SXFc1 were down 0.46% at 7:00 a.m. |
37108.0 | 2020-11-17 00:00:00 UTC | Canada's Weed Sales Just Hit a New High -- Here's Why That Hasn't Helped Pot Stocks | ACB | https://www.nasdaq.com/articles/canadas-weed-sales-just-hit-a-new-high-heres-why-that-hasnt-helped-pot-stocks-2020-11-17 | nan | nan | Earlier this month, cannabis enthusiasts celebrated a green sweep in the United States. Five states placed marijuana legalization initiatives or amendments on their ballots, and every single recreational weed and medical cannabis measure passed. By the end of election night, the number of medical marijuana-legal states had increased to 36, with 15 of these states also allowing for the consumption and/or retail sale of adult-use cannabis.
But more than two years before the United States celebrated its green sweep, Canada was rolling out the green carpet for adult-use cannabis sales. On Oct. 17, 2018, the Cannabis Act officially became law in our neighbor to the north.
Image source: Getty Images.
Canada's pot sales just hit a new all-time monthly high
In the initial months following legalization, things did not go well. Sales growth was stymied, with regulatory-based licensing issues at the federal and provincial level taking much of the blame. But over the past two years (October 2018 – October 2020), we've watched legal cannabis store sales more than quadruple. Last month, sales hit $244.9 million Canadian ($186.4 million U.S.), which is up from CA$53.7 million in October 2018 and CA$129 million in October 2019.
This surge in sales in 2020 is a direct result of two catalysts. First, there's the coronavirus disease 2019 (COVID-19) pandemic. Although the pandemic has been bad news for most industries, we've learned that cannabis is treated like a consumer-packaged good during periods of recession. This pretty much means demand stays the same. With consumers forced to stay in their homes to slow the spread of the SARS-CoV-2 virus that causes COVID-19, they've stocked up on marijuana.
As time has passed, we've also seen more dispensaries opening their doors. This has been especially true in Ontario, the most-populous province in Canada. Until the end of 2019, Ontario had been using an ineffective lottery system to assign dispensary licenses. At the one-year anniversary mark of recreational legalization (Oct. 17, 2019), only 24 retail stores were open. Given Ontario's size and population, it could comfortably house closer to 1,000 dispensaries. Since switching over to a more traditional application vetting process for retail licenses, Ontario's dispensary count has climbed past 160, as of late August. As more retail stores open, we would expect to see weed sales climbing.
Image source: Getty Images.
Here's why Canadian marijuana stocks are struggling so badly
But what might come as a shock to folks is that these significantly higher sales, relatively to where things stood one year ago, haven't translated into improved financial performance for Canadian licensed producers. The way I see it, there are three things responsible for this divergence.
Value-focused cannabis products are mauling margins
First of all, Canadian pot stocks have been forced to go toe-to-toe with black market producers that can easily undercut them on price. Even with the Canadian federal government imposing what it believed to be a nominal 10% tax rate on legal weed purchases, this tax and other legal operating costs have made it very difficult for those who follow the law to compete with the underground cannabis market.
The solution? More licensed producers (LPs) are introducing value-priced cannabis products. With virtually all LPs finished with their cultivation buildout, they're now able to lean on economies of scale to drive down their per-gram production costs. But even with output costs falling, per-gram net selling prices are tumbling even faster, thereby wrecking margins. Here's a quick rundown of the year-over-year decline in average per-gram net selling prices fort two of the most popular Canadian LPs that have chosen to focus on value cannabis products:
Aurora Cannabis (NYSE: ACB): CA$3.72 in Q1 2021 vs. CA$8.00 (medical cannabis) and CA$5.28 (consumer cannabis) in Q1 2020
HEXO (NYSE: HEXO): CA$4.07 in Q4 2020 vs. CA$4.74 in Q4 2019
Not surprisingly, these are two companies that look to be years away from generating recurring profits.
Image source: Getty Images.
Poor decision-making is limiting some major players
Secondly, some of the blame for the underperformance of Canadian LPs rests with the pot stocks themselves. Even though regulators deserve some finger-pointing (and I'll be getting to that in a moment), LPs did themselves no favors by being overzealous on the capacity front and failing to think their financing plans through.
I know I pick on Aurora Cannabis a lot, but it's the poster child for greed and excess in this industry. At the midpoint of 2019, the company owned 15 cultivation facilities capable of over 650,000 kilos of aggregate weed production each year. The entirety of Canada was only expected to consume around 800,000 kilos -- and that was assuming the industry's launch went flawlessly, which it did not.
Aurora also paid a mindboggling CA$2.64 billion for MedReleaf in July 2018. The expectation had been that this deal would add 140,000 kilos of annual output to Aurora's production total and allow it access to MedReleaf's proprietary portfolio. But after significant expense cuts announced over the past year, all that remains of this CA$2.64 billion deal is 28,000 kilos of annual output and a handful of proprietary brands.
HEXO followed a similar path. It acquired Newstrike Brands in May 2019 for just under $200 million (that's U.S.) in order to boost its output to at least 150,000 kilos a year. Less than a year later, HEXO had shuttered the Niagara facility it had acquired from Newstrike, and it was sold in June 2020 for a meager CA$10.25 million.
Poor decisions by Canadian LPs have left little financial wiggle room to rapidly improve sales.
Image source: Getty Images.
Supply bottlenecks will take time to work out
Finally, marijuana stocks can still blame regulators for their woes. Although Health Canada has finally stopped stepping on toes when it comes to approving cultivation, processing, and sales license applications, provincial regulations have remained a nuisance.
For example, even though Ontario has made excellent headway in approving new dispensaries in 2020, the province is still roughly a year behind schedule, relative to where it should be. Supply bottlenecks in Canada's most-important province aren't going to simply dissipate overnight.
Another problem for pot stocks is that certain high-margin products (ahem, vapes) aren't being allowed in select provinces. Both Quebec and Newfoundland and Labrador have banned cannabis vape sales, with Alberta imposing then retracting a vape ban of its own after a two-month period. Canadian LPs are counting on these significantly higher-margin products to help offset the oversupply and commoditization that comes with selling dried cannabis flower. With avenues to sell these higher-priced pot products closed off, cannabis stocks have had no choice but to lean on lower-margin dried flower even more.
It's quite possible that as cannabis sales hit record highs for Canada, we could see Canadian pot stocks push toward new multiyear lows.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Sean Williams has no position in any of the stocks mentioned. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here's a quick rundown of the year-over-year decline in average per-gram net selling prices fort two of the most popular Canadian LPs that have chosen to focus on value cannabis products: Aurora Cannabis (NYSE: ACB): CA$3.72 in Q1 2021 vs. CA$8.00 (medical cannabis) and CA$5.28 (consumer cannabis) in Q1 2020 HEXO (NYSE: HEXO): CA$4.07 in Q4 2020 vs. CA$4.74 in Q4 2019 Not surprisingly, these are two companies that look to be years away from generating recurring profits. Value-focused cannabis products are mauling margins First of all, Canadian pot stocks have been forced to go toe-to-toe with black market producers that can easily undercut them on price. But after significant expense cuts announced over the past year, all that remains of this CA$2.64 billion deal is 28,000 kilos of annual output and a handful of proprietary brands. | Here's a quick rundown of the year-over-year decline in average per-gram net selling prices fort two of the most popular Canadian LPs that have chosen to focus on value cannabis products: Aurora Cannabis (NYSE: ACB): CA$3.72 in Q1 2021 vs. CA$8.00 (medical cannabis) and CA$5.28 (consumer cannabis) in Q1 2020 HEXO (NYSE: HEXO): CA$4.07 in Q4 2020 vs. CA$4.74 in Q4 2019 Not surprisingly, these are two companies that look to be years away from generating recurring profits. Since switching over to a more traditional application vetting process for retail licenses, Ontario's dispensary count has climbed past 160, as of late August. Although Health Canada has finally stopped stepping on toes when it comes to approving cultivation, processing, and sales license applications, provincial regulations have remained a nuisance. | Here's a quick rundown of the year-over-year decline in average per-gram net selling prices fort two of the most popular Canadian LPs that have chosen to focus on value cannabis products: Aurora Cannabis (NYSE: ACB): CA$3.72 in Q1 2021 vs. CA$8.00 (medical cannabis) and CA$5.28 (consumer cannabis) in Q1 2020 HEXO (NYSE: HEXO): CA$4.07 in Q4 2020 vs. CA$4.74 in Q4 2019 Not surprisingly, these are two companies that look to be years away from generating recurring profits. Here's why Canadian marijuana stocks are struggling so badly But what might come as a shock to folks is that these significantly higher sales, relatively to where things stood one year ago, haven't translated into improved financial performance for Canadian licensed producers. Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. | Here's a quick rundown of the year-over-year decline in average per-gram net selling prices fort two of the most popular Canadian LPs that have chosen to focus on value cannabis products: Aurora Cannabis (NYSE: ACB): CA$3.72 in Q1 2021 vs. CA$8.00 (medical cannabis) and CA$5.28 (consumer cannabis) in Q1 2020 HEXO (NYSE: HEXO): CA$4.07 in Q4 2020 vs. CA$4.74 in Q4 2019 Not surprisingly, these are two companies that look to be years away from generating recurring profits. As more retail stores open, we would expect to see weed sales climbing. Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. |
37109.0 | 2020-11-16 00:00:00 UTC | Why Lyft Stock Is Up | ACB | https://www.nasdaq.com/articles/why-lyft-stock-is-up-2020-11-16 | nan | nan | In this episode of MarketFoolery, Chris Hill chats with Motley Fool analyst Jim Gillies about the latest headlines and earning reports from Wall Street. They go through the latest report from Lyft (NASDAQ: LYFT) and talk about the ridesharing industry. They've got a cannabis stock that is down. Jim shares his favorite Nebraska company that isn't Berkshire Hathaway, and they talk about Veterans Day and much more.
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks. A full transcript follows the video.
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This video was recorded on Nov. 11, 2020.
Chris Hill: It's Wednesday, November 11th. Welcome to MarketFoolery. I'm Chris Hill, joining me today from up North, it's Mr. Jim Gillies. Good to see you.
Jim Gillies: Good to be seen, Chris.
Hill: We got some news items to get to, and we're going to talk, of course, about Veterans Day, but let's start with Lyft, because shares of Lyft are up more than 5% this morning, not because Lyft was profitable in the third quarter, it was decidedly not profitable, but Lyft's revenue was higher than expected. And Jim, they say they're working on a food delivery service which seems like something that they probably should have been working [laughs] on a while ago.
Gillies: I feel that today, I'm going to apologize in advance, at least on the business things or at least on the specific stocks we're going to discuss, because I'm going to come off as rather negative. I think it's warranted, but I'm going to come off as rather negative. You said Lyft is not profitable yet, my internal monologue says, and never will be. They're working on a food delivery solution. Great, no competition there, no one else is doing it. And look, in a post-pandemic world, which I have to hope we're going to get to at some point, we've just listened to about half-an-hour on the vaccine on coronavirus, I mean, we are hopefully in the beginning of the end of the lockdown from what have you. Are we still going to be ordering as much food and having it delivered? I'm not a fan of food delivery anyway; that's, you know, more expensive for less tasty food. But I think we'll be going out a little bit more.
And so, at some point Lyft and their cousin Uber (NYSE: UBER) are going to be valued as regular businesses again, the unicorns, if you will, as what is this business, kind of, supplanting the taxi industry? And the problem why I doggone Lyft and Uber -- more on Uber than on Lyft, but I'll save some shade for Lyft -- is that these businesses have a, now, fairly long and demonstrated history of being unable to be either, A. profitable or B. cash flow positive. And I have opined in many places, many times, that companies that cannot self-finance, that cannot be cash free, cash flow positive, eventually hit a wall when the capital markets simply refuse to maintain this, I'd say "charade," but maybe that's too hard. Just refuse to maintain the cash-burning ways of these businesses. And we're going to get a real fine example of that in about five minutes.
But there is just this idea that the money eventually comes to a stop, the music eventually stops, and then what? You know, you just recreated the taxi industry, except you're profoundly unprofitable. And until that changes, until either Lyft or Uber demonstrate this ability to at least see a direction to get to cash flow positivity, cash flow breakeven, what have you, I think you're just going to see a continued cycle of burn cash, raise more money; burn cash, raise more money.
And this quarter, you know, look, year-to-date the first three quarters of 2020, Lyft has burned nearly $1.2 billion in cash. Now, the most recent quarter was good, they only incinerated $170 million. And if you read the press release for the earnings today, they're very much pointing you, and the story they want to tell, the narrative they're trying to frame is, look how much better Q3 was than Q2. Look at our growth from the previous quarter. Okay, great. That's a step in the right direction, but it's a step, again, into a more normal world where these companies, if viewed in a normal world, are inherently, structurally unprofitable and money losers, and that eventually stops.
Hill: We've talked about businesses across all ranges of industries over the past six months that, putting aside the business, if you look at just the stock, there is a point at which you say, well, that stock has sold-off to the point where that's just ridiculous. We've seen all kinds of businesses that have doubled and tripled since their lows, you know, whether it's late-March, early April, whenever it was. Lyft is one of those businesses, there's a point at which, in 2020, if you bought shares of Lyft, you're thrilled with how it's performing today, you don't even have to go back that far. A week ago today, Ron Gross and I talked about how Uber and Lyft, a week ago, were each up 10%, 15% because California voters passed Prop 22 which basically, you know, if it hadn't passed, it might have been the death knell for those two businesses, and instead they got another life out of it.
But to your point, it's hard to see Lyft and Uber right now, as they currently stand right now, as businesses that we as Foolish investors [laughs] like to see. It's tough to look at them and say, yes, this is a stock I want to own for the next 10 years, because I think 10 years from now it's going to be exponentially larger. I mean, it really seems much more in the category of the stocks that we don't like to own, which is, boy! if you time this right, and you hold it for three months, you're going to get on -- sure, [laughs] you'll pay the higher capital gains tax, but yeah, if you time this right, this could be a good stock to own for three months.
Gillies: Yes. I mean, you talk about a 10-year look-forward for Lyft and Uber, or Lyft I suppose. Look, Lyft, how much more cash are they going to burn in the next 10 years? How many more shares will be outstanding as they have to finance themselves over the next 10 years? And I feel like I'm almost a prequel for our next topic, because, you know, as a company hoses out more shares that becomes a much larger base, that if they ever do get to profitability, if they ever do get to cash flow positivity, you now spread it out over a much, much larger base. And so, if you ever do get to the promised land, you've essentially diluted the early believers.
Our friend Emily Flippen, who does the Industry Focus podcast, has an analogy with stocks of you date, you don't marry. And this is very much -- Lyft, if you want to play the Lyft game or the Uber game, this is, you date the stock, you don't marry it, so. [laughs]
Hill: Speaking of dilution, Aurora Cannabis (NYSE: ACB) announced that it plans to raise $125 million through a secondary offering. Shares of [laughs] Aurora Cannabis down 20% today. Holy cow! I mean, and this is another one, this is a ...
Gillies: Oh, this is another one.
Hill: Well, no, I was going to say, just in terms of businesses that people were more bullish on a week ago today, because a week ago today, we could look at California voters passing Prop 22. We could also look at voters in five different states giving the green light to some version of cannabis legalization, and any luster for Aurora Cannabis and those businesses is lost when they come out with news like this.
Gillies: Can I go off on this company now?
Hill: Oh, absolutely.
Gillies: Cool. I have no idea why anyone wants to own this company at all. I don't think you should, I think if you're hoping to get back to some higher price you assuredly paid, you should probably forget that. You know Chris, I am not a big fan of the marijuana companies anyway. There's a reason they call it weed, you know, it's not hard to grow. And looking back, so I live, of course, in the completely cannabis legal utopia that is Canada. And so, if you had bought -- Chris, is there anything more bullish than this Canadian company -- Aurora Cannabis is a Canadian company -- anything more bullish than legalization countrywide which came into force on October 17th, 2018, so barely two years ago. And if you were a buyer on that day, Chris, you have lost 95% of your money. It is legal across the country, and you are down 95% since that day. This is like Lyft, like Uber, but perhaps even more an aficionado of the sport. These guys burn cash for fun. And they have a June fiscal year, in fiscal 2017, they burned $39 million, in fiscal '18 they decided to up the ante, they went to $219 million burned. In 2019, fiscal 2019, they burned $606 million. In fiscal 2020, they burned $693 million. They are off to a rousing start in fiscal 2021, with one quarter reported, they burned $124 million. Over this period of time, they have financed themselves increasingly through share issues, and we're not counting the latest thing which is responsible for today's 20% drop, they have gone from 30.5 million shares at the end of fiscal 2017 to the most recent quarter they now have 133.4 million shares, before what they're about to issue on the market. This is not going to stop; they're going to continue burning money to grow. I don't understand why people want to play in this space.
Hill: Because someone is going to win, right? I mean, put aside Aurora Cannabis, let's just --
Gillies: How do you define win?
Hill: I define win as, 10 years from now, marijuana will still be legal in Canada, there's a chance -- I mean, right now we've got, in the United States 36 states. There are, I think in the next two years ...
Gillies: 14 to go.
Hill: 14 to go. And in the next two years, it's on the ballot in little states like New York, and Florida, and Ohio. [laughs] So, someone is going to be supplying. And I'm sure this is someone who is --
Gillies: Sure, a lot of someones are going to be supplying.
Hill: What's that?
Gillies: A lot of someones are going to be supplying. That's the point, this is a commodity.
Hill: So, your belief is that -- just to compare, let's just compare this to pizza, because it's the only analogy [laughs] I can think of at the moment. That if you look at pizza in the United States by market share, the biggest market share is held by independent pizza shops, just local shops. And then you've got Domino's, and Papa John's, and Pizza Hut, and sort of the chains like that. Is it your belief that there's not going to be a single viable public company that is supplying cannabis on a national level, that it's just going to be all mom-and-pop pizza shops?
Gillies: Pretty much, yes, and it's exceedingly easy to produce your own. Again, I live in a country where it is completely legal. I may have one or two acquaintances who enjoy imbibing said legal substance, and they did so before it was made completely legal. And I can tell you, the only difference in their consumption pattern has been, they grow their plants outside instead of inside now. I mean, it is something that is, I understand everyone wants to be at the forefront of what they think is going to be the next big thing, but the dynamics of these businesses that are trying to capture the space, Aurora Cannabis, I'm blanking on the other big name that I could throw out ... Tilray. The problem is these businesses incinerate capital, and there seems to be no end to that incineration. And the larger they get, because their market has expanded, Canada it is legal, 36 states are now legal. You say New York and Florida are probably coming, I think you're probably correct. And I just think they're just going to end up burning more money. So, I would not go anywhere near this entire space, but I'm a bear on the name, so.
Hill: [laughs] Before we get to Veterans Day, you and I were chatting this morning, and you made [laughs] reference to something that caught my attention immediately. You said something to the effect of, do you want to hear about my favorite [laughs] company in Nebraska that's not named Berkshire Hathaway? And all due respect to Nebraska, my first thought was like, wait! There are other public ... and, of course, I know they are based there. Other than Berkshire Hathaway, what's the Nebraska company that you love?
Gillies: Well, OK. So, this is my opportunity to not be such a negative, you know, person because I'm not a negative person, I love lots of companies, you just picked me a couple to start today that I don't love. Have you ever heard of Nelnet (NYSE: NNI)?
Hill: I've never heard of Nelnet.
Gillies: Perfect. Nelnet, ticker NNI on the New York Stock Exchange, is out of the thriving hub of Lincoln, Nebraska. Now, I had never heard of Nelnet before I stumbled upon them four or five months ago. And when I recommended Nelnet, spoiler, in one of our Canadian services, I heard from multiple of our Foolish colleagues who said, oh, Nelnet, I hate those guys, they held my student ... they held my or they held my partner's student loan debt, [laughs] and I had to send them a check every month. So, I'm like, oh! Yay! I'm sorry. [laughs] Yeah, so.
But Nelnet is this really interesting, strangely constructed business out of Lincoln, Nebraska that has a multiple, that's all these little, kind of, hidden businesses underneath a giant -- I'm going to say it's about a $2.5 billion company, it might be a little bit higher than that now, but it's about a $2.5 billion company, that if you go look at their balance sheet, they have nearly $20 billion in debt. So, you're going to scream, throw your hands over your ears and run away, right. I mean, this just sounds like, oh, my goodness, 10-to-1 leverage. That's a mirage, what that debt is, it's a giant portfolio of student loans that are no longer -- it's the type of loans that are no longer issued, but they're on the balance sheet. Okay. So, student loans -- these loans are actually Federally guaranteed, somewhere between 97% and 100% is guaranteed. So, even if all of these student loans were to default en masse what ends up happening is the government just writes a check to Nelnet to cover it, because they're on the hook for this. Same deal, if you get some sort of student loan forgiveness that impacts this portfolio, what that means is Nelnet is not, it's just, the government will have to cover this obligation.
But those loans are throwing off a ton of cash flow, because the average is about 10 years in those loans, and those loans are going to roll off over 20 years, but most of that cash is coming upfront because of a particular wrinkle in how these loans are financed. Basically, if you're a student borrower, Chris, your loan is probably at a fixed rate, OK, say 5%. But these things are securitized and chopped up by Nelnet, and so they are largely paying a floating rate to finance these loans. So, as the world has seen interest rates drop, what that means is the spread, the amount of cash that's coming to Nelnet, because they are in basically the spread between what you're paying as a borrower and what they have to pay as the financier. That spread has gotten wider. And so, what's coming to Nelnet, in terms of the amount of cash, this is about a $70 stock today, I think, they've got about $42 -- by my estimate, they've got about $42 in cash per share coming to them in about the next five years, assuming that low interest rates persist. And we've already heard from the U.S. Fed that you should probably expect interest rates to stay low, near 0%, probably through 2023, which will give Nelnet enough time to bring a lot of this cash in.
And so, what are they doing with that cash, because it's all kinds of cash flow brought in. They've got a bunch of these little businesses, so they are a SaaS company, Software-as-a-Service company, who provides, you know, payment processing, so, like, tuition payment plans products and what have you, to a lot of K-12 private schools, as well as -- they got about 11,500 K-12 private schools, they have about 1,300 higher education institutions. Those are very sticky clients. You put in a payment processing or a tuition processing software, you're not ripping it out in six months because a competitor gave you a 5% discount.
They have a fiber to the premises arm, called Nelnet Communications, which they've just sold about half to a private equity group. So, that is -- they've invested and now the cash flow is exploding there. They do, do a lot of servicing of student loans. This is independent of that giant pile of student loans I already mentioned; this is the servicing for other types of loans. That business is good, but it's probably going to be a lot smaller in the future, because they've lost a couple of Federal contracts, but they are still, even if those contracts are gone, they're still servicing about $50 billion worth of Federal private education, consumer loans for about two million borrowers.
They've got a bunch of little venture capital bets, one of which is called Hudl. And Hudl is a sports performance analysis software. So, think, video analysis, scouting software for professional or minor league teams. They claim they've got more than 6 million coaches and athletes in 139 countries, 160,000 teams across 35 sports. Nelnet owns about 20% of that. So, it's a really -- and also insiders, there are a couple of co-founders who founded this business. The insiders, the one Co-Founder and the estate of the other Co-Founder who unfortunately died a couple of years ago at a relatively young age, they control about, I think it's about 44%, 45% of the shares, and they have about +80% of the voting stock. So, this is a very Foolish Founder management, and it's a company that a lot of people haven't heard of. And like I said at the beginning of this little treatise, if they have heard about, their first reaction seems to have been, oh, Nelnet, I hate those guys. [laughs] So, you know.
So, that's my favorite non-Berkshire Nebraska company.
Hill: As I mentioned it's Veterans Day here in the U.S., Remembrance Day where you are, just want to take a second and say thank you to all the veterans out there, including some of our colleagues here at The Motley Fool. Tim Sparks, Ben Ra, Nick Crow, Jeff Lovett, Nate Wallingsford, Michael Robinson, John Novak, to them, and to all the veterans listening to us around the world, thank you so much.
We were also chatting this morning about, In Flanders Fields, the famous poem, and you have a connection to this poem.
Gillies: I do. Yes. In Flanders Fields, it is not hyperbole, Chris, to say that it will probably be read -- I'm not sure how pertinent it is for Veterans Day in the U.S., but here in Canada, it is held -- it's written by a Canadian, and it is, without hyperbole, will be read practically at every Cenotaph memorial today, it will be read, I'm sure, at every student assembly to commemorate Remembrance Day.
When I used to work in, I mentioned in our chat earlier, I used to work at various private industry jobs in my engineering career. One was a manufacturing facility where at 11:00 AM on the eleventh day of the eleventh month, the machines would, to the extent possible, go silent. And over the intercom they would read In Flanders Fields, and for the moment of silence. And In Flanders Fields was written by a Lieutenant Colonel, John McCrae, who was born here in Guelph, Ontario, where I live, and the McCrae house is about two miles that way from me. In prior years I have skipped out to attend the ceremony, this morning because of some Foolish duties I was unable to, but it is a good place to go to take in the remembrance. And if anyone who is unfamiliar with the poem In Flanders Fields, I encourage you to look it up, read it, and just contemplate what some of those who went before us and won our freedoms might have to go through, so, and we say thank you.
Hill: We will end there. Jim Gillies, thanks for being here.
As always, people on the program may have interest in the stocks they talk about, and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear.
That's going to do it for this edition of MarketFoolery. The show is mixed by Dan Boyd, I'm Chris Hill, thanks for listening, we'll see you tomorrow.
Chris Hill has no position in any of the stocks mentioned. Jim Gillies owns shares of Berkshire Hathaway (B shares) and Nelnet. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares). The Motley Fool recommends Domino's Pizza, Nelnet, and Uber Technologies and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), and short December 2020 $210 calls on Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | [laughs] Hill: Speaking of dilution, Aurora Cannabis (NYSE: ACB) announced that it plans to raise $125 million through a secondary offering. In this episode of MarketFoolery, Chris Hill chats with Motley Fool analyst Jim Gillies about the latest headlines and earning reports from Wall Street. Tim Sparks, Ben Ra, Nick Crow, Jeff Lovett, Nate Wallingsford, Michael Robinson, John Novak, to them, and to all the veterans listening to us around the world, thank you so much. | [laughs] Hill: Speaking of dilution, Aurora Cannabis (NYSE: ACB) announced that it plans to raise $125 million through a secondary offering. In this episode of MarketFoolery, Chris Hill chats with Motley Fool analyst Jim Gillies about the latest headlines and earning reports from Wall Street. And when I recommended Nelnet, spoiler, in one of our Canadian services, I heard from multiple of our Foolish colleagues who said, oh, Nelnet, I hate those guys, they held my student ... they held my or they held my partner's student loan debt, [laughs] and I had to send them a check every month. | [laughs] Hill: Speaking of dilution, Aurora Cannabis (NYSE: ACB) announced that it plans to raise $125 million through a secondary offering. Hill: We got some news items to get to, and we're going to talk, of course, about Veterans Day, but let's start with Lyft, because shares of Lyft are up more than 5% this morning, not because Lyft was profitable in the third quarter, it was decidedly not profitable, but Lyft's revenue was higher than expected. And until that changes, until either Lyft or Uber demonstrate this ability to at least see a direction to get to cash flow positivity, cash flow breakeven, what have you, I think you're just going to see a continued cycle of burn cash, raise more money; burn cash, raise more money. | [laughs] Hill: Speaking of dilution, Aurora Cannabis (NYSE: ACB) announced that it plans to raise $125 million through a secondary offering. Jim Gillies: Good to be seen, Chris. Lyft is one of those businesses, there's a point at which, in 2020, if you bought shares of Lyft, you're thrilled with how it's performing today, you don't even have to go back that far. |
37110.0 | 2020-11-16 00:00:00 UTC | Why Aurora Cannabis Stock Dropped More Than 4% Monday | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-stock-dropped-more-than-4-monday-2020-11-16 | nan | nan | What happened
In the first half of the Monday trading day, most of the stock market was up (the S&P 500, by the greater part of a full percentage point) -- but Aurora Cannabis (NYSE: ACB) was not. The marijuana stock was down by about 4.9% as of 1:23 p.m. EST.
We can blame investment bank Jefferies & Co. for some of that decline.
Image source: Getty Images.
So what
Citing "a post US election period in which at one point the ACB had gained 135%, not on fundamentals, but retail FOMO/hedge fund squeeze" (i.e. short-sellers feeling forced to buy the stock necessary to cover their positions at higher and higher prices), Jefferies declared Monday morning that "the valuation is too stretched" on Aurora Cannabis stock, and downgraded it to underperform (i.e., sell).
As Jefferies analyst Owen Bennett explained, not only were Aurora Cannabis's fiscal first-quarter 2021 numbers awful (sales down 10% year over year, $81 million in net losses, and $93 million in cash burned), but the company moved to replace its lost cash by selling 20 million new shares, diluting existing shareholders in the process.
Now what
As bad as things look already, Bennett worries that they could still get worse. He sees it as entirely possible that Aurora Cannabis will continue creating and selling shares over the next 12 to 18 months, warns StreetInsider.com. And the more stock it sells, the more its shareholders' stakes will be diluted.
10 stocks we like better than Aurora Cannabis Inc.
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened In the first half of the Monday trading day, most of the stock market was up (the S&P 500, by the greater part of a full percentage point) -- but Aurora Cannabis (NYSE: ACB) was not. So what Citing "a post US election period in which at one point the ACB had gained 135%, not on fundamentals, but retail FOMO/hedge fund squeeze" (i.e. short-sellers feeling forced to buy the stock necessary to cover their positions at higher and higher prices), Jefferies declared Monday morning that "the valuation is too stretched" on Aurora Cannabis stock, and downgraded it to underperform (i.e., sell). * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Aurora Cannabis Inc. wasn't one of them! | So what Citing "a post US election period in which at one point the ACB had gained 135%, not on fundamentals, but retail FOMO/hedge fund squeeze" (i.e. short-sellers feeling forced to buy the stock necessary to cover their positions at higher and higher prices), Jefferies declared Monday morning that "the valuation is too stretched" on Aurora Cannabis stock, and downgraded it to underperform (i.e., sell). What happened In the first half of the Monday trading day, most of the stock market was up (the S&P 500, by the greater part of a full percentage point) -- but Aurora Cannabis (NYSE: ACB) was not. As Jefferies analyst Owen Bennett explained, not only were Aurora Cannabis's fiscal first-quarter 2021 numbers awful (sales down 10% year over year, $81 million in net losses, and $93 million in cash burned), but the company moved to replace its lost cash by selling 20 million new shares, diluting existing shareholders in the process. | So what Citing "a post US election period in which at one point the ACB had gained 135%, not on fundamentals, but retail FOMO/hedge fund squeeze" (i.e. short-sellers feeling forced to buy the stock necessary to cover their positions at higher and higher prices), Jefferies declared Monday morning that "the valuation is too stretched" on Aurora Cannabis stock, and downgraded it to underperform (i.e., sell). What happened In the first half of the Monday trading day, most of the stock market was up (the S&P 500, by the greater part of a full percentage point) -- but Aurora Cannabis (NYSE: ACB) was not. As Jefferies analyst Owen Bennett explained, not only were Aurora Cannabis's fiscal first-quarter 2021 numbers awful (sales down 10% year over year, $81 million in net losses, and $93 million in cash burned), but the company moved to replace its lost cash by selling 20 million new shares, diluting existing shareholders in the process. | What happened In the first half of the Monday trading day, most of the stock market was up (the S&P 500, by the greater part of a full percentage point) -- but Aurora Cannabis (NYSE: ACB) was not. So what Citing "a post US election period in which at one point the ACB had gained 135%, not on fundamentals, but retail FOMO/hedge fund squeeze" (i.e. short-sellers feeling forced to buy the stock necessary to cover their positions at higher and higher prices), Jefferies declared Monday morning that "the valuation is too stretched" on Aurora Cannabis stock, and downgraded it to underperform (i.e., sell). 10 stocks we like better than Aurora Cannabis Inc. |
37111.0 | 2020-11-16 00:00:00 UTC | Aurora Cannabis and the $2.17 Billion Magic Trick | ACB | https://www.nasdaq.com/articles/aurora-cannabis-and-the-%242.17-billion-magic-trick-2020-11-16 | nan | nan | Though it's been a wild journey for the North American marijuana industry, cannabis could well be one of the fastest-growing industries this decade. A green wave on election night pushed the number of legalized medical marijuana states up to 36 – 15 of which also allow for the consumption and/or retail sale of adult-use weed. Meanwhile, Canada hit its two-year anniversary of recreational marijuana legalization in October.
The table is set for the legal North American pot industry to mature, and for a handful of standout marijuana stocks to shine.
Image source: Getty Images.
How Aurora became retail investors' marijuana darling
At one time, Aurora Cannabis (NYSE: ACB) was the most desirable of all North American pot stocks. At the midpoint of 2019, it owned 15 cultivation facilities that, if fully built out, could produce more than 650,000 kilos a year of cannabis on a combined basis. Such enormous output was expected to make Aurora a logical go-to for supply deals, as well as drive down its per-gram production costs well below the industry average.
Aurora Cannabis was also viewed as a clear-cut expected winner because of its international presence. Between overseas grow farms, research projects, partnerships, and export agreements, the company had a presence in two dozen markets outside of Canada. The ability to export to international markets was viewed as critical to protecting Aurora's margins if dried flower oversupply became rampant in Canada.
The company even landed billionaire Nelson Peltz as its strategic advisor in March 2019. Peltz's track record included numerous dealings with consumer-packaged goods and beverage companies, making him the logical choice to potentially broker an equity investment or partnership with a brand-name food or beverage company.
It simply couldn't fail... until it did.
Image source: Getty Images.
Everything went wrong for the most popular pot stock
Rather than being the blueprint for other pot stocks to follow, Aurora Cannabis has been a certifiable mess. In retrospect, the company's decision to pile on capacity made no sense. Canadians were only expected to consume around 800,000 kilos of weed per year, and Aurora was on track to produce well over half of this amount, domestically, by itself. This doesn't take into account the roughly half-dozen other Canadian licensed producers that were, at one time, expected to tip the scales at more than 100,000 kilos of annual output.
Making matters worse, regulatory issues have stymied the sales potential of licensed producers. Ontario, the most-populous province in Canada, stuck with an ineffective lottery system for assigning dispensary licenses until Jan. 1, 2020. As a result, a mere 24 retail locations were open a year after recreational sales began. For some context, Ontario could reasonably house in the neighborhood of 1,000 dispensaries.
Aurora has also run into issues on the international front. Export licensing approval has been slower than expected, and most medical marijuana-legal countries in Europe are still hashing out their regulations and import/export clauses. Some of these overseas markets are also considering domestic production, which could hamper Aurora's export potential.
Even Nelson Peltz abandoned ship. After failing to broker an equity deal or brand-name partnership, Peltz resigned from his role in late September to pursue other interests.
But maybe Aurora's greatest failure of all is the $2.17 billion it made disappear in a span of 12 months.
Image source: Getty Images.
Aurora Cannabis' greatest magic trick of all
One year ago, Aurora Cannabis released its fiscal first-quarter operating results for the 2020 year. Putting aside its operating performance for the moment, I want to focus on one key figure in its Q1 2020 report: $5,606,799,000 Canadian in total assets ($4.26 billion U.S.).
This CA$5.61 billion accounts for all of the company's current assets, such as cash, restricted, cash, accounts receivable, marketable securities, and inventory, as well as noncurrent assets like property, plant, and equipment, intangible assets, investments in joint ventures, and goodwill. This isn't a complete list of all current and noncurrent assets, but it encompasses many of the largest contributors to the company's CA$5.61 billion in total assets.
This figure should be a number that the investment community can trust as one of many puzzle pieces needed to evaluate a publicly traded company. But that's not proved to be the case over the past year.
After releasing its fiscal first-quarter operating results for 2021 last week, we see that Aurora's total assets now tally CA$2,757,272,000 ($2.09 billion). Over the past 12 months, Aurora Cannabis has waved its magic wand and made $2.17 billion (that's U.S.), or 51%, of its total assets disappear.
Image source: Getty Images.
How's is it possible for a company to be this bad at valuing its assets? The big issue was Aurora's more than one dozen grossly overvalued acquisitions. In many instances, the company recognized at least half the value of its acquisitions as goodwill. In a perfect world, the acquiring company eventually recoups the premium it's paid. But the cannabis industry has been far from perfect, and Aurora paid way too much for some of the companies it acquired.
For example, Aurora Cannabis completed an all-share deal to buy licensed producer MedReleaf in July 2018. The final cost of this deal was a cool CA$2.64 billion, with approximately CA$2 billion classified as goodwill. After eventually selling the 1-million-square-foot Exeter greenhouse for peanuts (CA$8.6 million) and shutting down the Markham facility (7,000 kilos of annual output) to reduce expenditures, the CA$2.64 billion deal netted Aurora 28,000 kilos of annual weed production and a handful of brand-name products. For some context here, companies capable of 50,000 kilos of output can be purchased for less than CA$65 million today.
Aurora's willy nilly expansion plans also required the company to take significant impairment charges in both current and noncurrent assets. We witnessed substantive inventory writedowns as supply issues created bottlenecks in key Canadian provinces, and also saw the company reduce the value of its property, plant, and equipment to account for permanently closed facilities.
The biggest fear I have for Aurora's shareholders is that this company isn't done waving its magic wand just yet.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Sean Williams has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | How Aurora became retail investors' marijuana darling At one time, Aurora Cannabis (NYSE: ACB) was the most desirable of all North American pot stocks. A green wave on election night pushed the number of legalized medical marijuana states up to 36 – 15 of which also allow for the consumption and/or retail sale of adult-use weed. Such enormous output was expected to make Aurora a logical go-to for supply deals, as well as drive down its per-gram production costs well below the industry average. | How Aurora became retail investors' marijuana darling At one time, Aurora Cannabis (NYSE: ACB) was the most desirable of all North American pot stocks. This CA$5.61 billion accounts for all of the company's current assets, such as cash, restricted, cash, accounts receivable, marketable securities, and inventory, as well as noncurrent assets like property, plant, and equipment, intangible assets, investments in joint ventures, and goodwill. Over the past 12 months, Aurora Cannabis has waved its magic wand and made $2.17 billion (that's U.S.), or 51%, of its total assets disappear. | How Aurora became retail investors' marijuana darling At one time, Aurora Cannabis (NYSE: ACB) was the most desirable of all North American pot stocks. Aurora Cannabis' greatest magic trick of all One year ago, Aurora Cannabis released its fiscal first-quarter operating results for the 2020 year. This CA$5.61 billion accounts for all of the company's current assets, such as cash, restricted, cash, accounts receivable, marketable securities, and inventory, as well as noncurrent assets like property, plant, and equipment, intangible assets, investments in joint ventures, and goodwill. | How Aurora became retail investors' marijuana darling At one time, Aurora Cannabis (NYSE: ACB) was the most desirable of all North American pot stocks. Aurora Cannabis' greatest magic trick of all One year ago, Aurora Cannabis released its fiscal first-quarter operating results for the 2020 year. This isn't a complete list of all current and noncurrent assets, but it encompasses many of the largest contributors to the company's CA$5.61 billion in total assets. |
37112.0 | 2020-11-15 00:00:00 UTC | Where Will Aurora Cannabis Be in 1 Year? | ACB | https://www.nasdaq.com/articles/where-will-aurora-cannabis-be-in-1-year-2020-11-15 | nan | nan | A consistent failure to achieve profitability has led most investors to ditch the stock of Canadian pot producer Aurora Cannabis (NYSE: ACB) in 2020. Year to date, the stock is down over 68%. The benchmark Horizons Marijuana Life Sciences ETF is down just 15% in that time.
The company's second-quarter 2021 earnings release arguably contained several negative developments that disappointed investors. But I think Aurora's future a year from now could be brighter than today's financials may suggest. Let's look at why taking a small stake in Aurora now could pay off in the medium term.
Image source: Getty Images.
Another lackluster quarter
During the first quarter of 2021, Aurora's net revenue decreased to $67.8 million Canadian dollars from CA$75.2 million in Q1 2020. The company managed to sell 16,139 kilograms of cannabis during the quarter, an increase from the 12,463 kg it sold in Q1 2020. Unfortunately, Aurora was not able to profit from this increase -- over the past year, the price of dried cannabis sold by the Canadian producer fell sharply from CA$5.68 per gram to CA$3.70 per gram because of excessive supply from sector players.
Investors who were expecting better news may well be disappointed. On an annualized basis, Aurora is selling about 64,500 kg of dried cannabis, which is far below the 187,500 kg of dried cannabis that it currently produces annually.
Citing lackluster demand from consumers, the company has recently had to close down cultivation facilities it invested in and write down the value of cannabis subsidiaries it had acquired, resulting in huge losses. In Q1 2021, the company had over CA$5.6 billion in total assets. One year later, Aurora's total assets have declined to just CA$2.8 billion.
That's not all; the company is still profoundly unprofitable, with a net loss of CA$107.2 million compared with net income of CA$10.4 million in the same period last year. Even though Aurora has approximately CA$250 million in cash on its balance sheet as of Nov. 6, that's almost entirely thanks to the money it raised by issuing more stock.
Over the past 12 months, Aurora's shares outstanding have increased from under 100 million to nearly 161 million. Raising more cash at the expense of investors to offset losses isn't a sustainable strategy in the long run.
So why consider Aurora at all?
In the past week, Aurora stock is actually up more than 70% on investor optimism over a possible "green wave" in the United States. For starters, Vice President-elect Kamala Harris previously indicated that the administration of President-elect Joe Biden would decriminalize pot on a federal level. Additionally, Arizona, New Jersey, South Dakota, and Montana voted to legalize recreational cannabis as part of the 2020 election, putting further pressure on neighboring states to do the same.
Investors seem to think that these developments are bullish for Aurora. The company's business fell hard when it tried to cater to consumer demand that never materialized, so it makes sense that Aurora may make a comeback now that its goods could be needed in America.
Takeaways for investors
The opportunity to expand into a market 10 times as large as Canada (in terms of population) is lucrative for Aurora. Back in May, the company made the first push into the U.S. legal pot market by acquiring cannabidiol maker Reliva, which sells its products in over 20,000 retail locations, for $40 million.
Overall, there are still ample fundamental problems surrounding Aurora, and investors should definitely not expect the company to stop diluting its stock or turn a profit anytime soon. However, the stock's price-to-sales valuation of just 4 also doesn't reflect the growth opportunities ahead. For adventurous marijuana investors with a high-risk, high-reward outlook, now may not be a bad time to open a small stake. For others, I would advise waiting for the company to either make money or achieve substantial revenue growth before making a move.
10 stocks we like better than Aurora Cannabis Inc.
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Zhiyuan Sun has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A consistent failure to achieve profitability has led most investors to ditch the stock of Canadian pot producer Aurora Cannabis (NYSE: ACB) in 2020. Citing lackluster demand from consumers, the company has recently had to close down cultivation facilities it invested in and write down the value of cannabis subsidiaries it had acquired, resulting in huge losses. Additionally, Arizona, New Jersey, South Dakota, and Montana voted to legalize recreational cannabis as part of the 2020 election, putting further pressure on neighboring states to do the same. | A consistent failure to achieve profitability has led most investors to ditch the stock of Canadian pot producer Aurora Cannabis (NYSE: ACB) in 2020. Another lackluster quarter During the first quarter of 2021, Aurora's net revenue decreased to $67.8 million Canadian dollars from CA$75.2 million in Q1 2020. Unfortunately, Aurora was not able to profit from this increase -- over the past year, the price of dried cannabis sold by the Canadian producer fell sharply from CA$5.68 per gram to CA$3.70 per gram because of excessive supply from sector players. | A consistent failure to achieve profitability has led most investors to ditch the stock of Canadian pot producer Aurora Cannabis (NYSE: ACB) in 2020. Unfortunately, Aurora was not able to profit from this increase -- over the past year, the price of dried cannabis sold by the Canadian producer fell sharply from CA$5.68 per gram to CA$3.70 per gram because of excessive supply from sector players. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Aurora Cannabis Inc. wasn't one of them! | A consistent failure to achieve profitability has led most investors to ditch the stock of Canadian pot producer Aurora Cannabis (NYSE: ACB) in 2020. So why consider Aurora at all? 10 stocks we like better than Aurora Cannabis Inc. |
37113.0 | 2020-11-14 00:00:00 UTC | Is HEXO Stock a Buy? | ACB | https://www.nasdaq.com/articles/is-hexo-stock-a-buy-2020-11-14 | nan | nan | Cannabis stocks are showing much needed signs of life after the election of Joe Biden and the legalization of recreational marijuana in four new states. Since Nov. 1, the Horizons Marijuana Life Sciences ETF is up over 20%, which is even higher than the S&P 500's 8% gains this month. The excitement from the voting results has lit a fire under many stocks, both in the U.S. and across the border in Canada.
Shares of HEXO (NYSE: HEXO) are up around 28% over the same period, hitting highs it hasn't reached since June. Let's take a closer look at the stock to see whether this rally is likely to continue and if you should consider adding shares of HEXO to your portfolio today.
Image source: Getty Images.
The company is coming off an improved quarter
Ontario-based HEXO released its quarterly results for the fourth quarter ending July 31 on Oct. 29. Net revenue of 27.1 million Canadian dollars grew 76% year over year and was up 23% from the third quarter. HEXO's adult-use beverages provided the standout numbers, contributing CA$2 million in net sales during the period, well above the CA$431,000 that they generated in Q3. HEXO saw decent growth in other segments in Q4, as well: Non-beverage net sales climbed 15.8% to CA$25.1 million.
In 2018, HEXO partnered with Molson Coors' Canadian arm in a joint venture called Truss to create cannabis-infused beverages for the Canadian pot market. In 2020, it's finally been able to begin reaping rewards from that deal. A few months ago, the company announced the launch of five new brands under Truss that offer consumers a variety of options, and are either infused with tetrahydrocannabinol (THC) or cannabidiol (CBD). Its XMG brand, for instance, is high in THC and marketed toward special occasions, while Veryvell is focused on CBD and overall wellness. Truss beverages are available in all major Canadian provinces.
Unfortunately, further down its financial statements, HEXO's numbers didn't look as promising. Its net loss of CA$169.5 million was a mammoth increase from the CA$18.8 million loss it incurred in the previous period. Impairment losses, writedowns, write-offs, and a loss on convertible debt crushed what may have been an otherwise strong quarter for the company as they added CA$146.8 million in additional costs.
When backing out those items and making adjustments to other non-cash items, non-recurring expenses, and investment gains and losses,the company's adjusted earnings before income, taxes, depreciation, and amortization (EBITDA) was a much lighter loss of CA$3.3 million. And while it's easy to discount many of those items and say that impairment and writedowns are non-cash items, investors shouldn't disregard them entirely, because they could suggest the company's inventory isn't being sold quickly enough and that its assets are overvalued.
Impairment charges were a modest CA$200,000 in Q3, but in the second quarter, they had totaled CA$250.2 million. The impairment challenge is an ongoing one for HEXO, and investors should keep a close eye on these items in future periods to see if they continue popping up.
Will the election results help the stock?
Although a win for Biden and the legalization of recreational pot in New Jersey, Arizona, Montana, and South Dakota (plus Mississippi's passing of a medical marijuana initiative) will help the cannabis industry grow in the U.S., it may not have much of an impact on a Canadian producer like HEXO.
Without the U.S. government legalizing marijuana at the federal level, HEXO's cannabis products can't cross the border into the U.S., making it moot whether individual states have legalized marijuana or not. And while Biden is in favor of decriminalizing marijuana, stating on his website that "getting caught for smoking marijuana shouldn't deny you a good-paying job and career, a loan, or ability to rent an apartment," he doesn't go so far as to say that cannabis should be legal.
Should you buy shares of HEXO today?
When compared to other notable pot stocks, shares of HEXO are trading at a decent price-to-sales (P/S) multiple of 3.8:
HEXO PS Ratio data by YCharts
Using the price-to-sales multiple can be effective in gauging a stock's value when a company isn't yet profitable, as is the case with many cannabis stocks. HEXO's stock has been falling heavily this year and is down around 50% in 2020 as of Nov. 12, while the Horizons Marijuana Life Sciences ETF has fallen by a more modest 18% over the same period. It's gotten so bad that the Canadian pot producer is the latest cannabis company to announce that it plans to do a reverse 1 for 8 stock split to help it stay listed on the New York Stock Exchange (NYSE). That is not as significant as the 1 for 12 reverse split Aurora Cannabis did earlier this year, but still doesn't show shareholders that internal confidence at HEXO is high.
HEXO could be full of potential, especially if its beverage brands show continued success. But given the impairment charges and recent noise surrounding its financials, cautious investors might opt to avoid this stock for now -- at least until HEXO is able to report a few periods of clean financials without significant writedowns or non-operating charges.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
David Jagielski has no position in any of the stocks mentioned. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A few months ago, the company announced the launch of five new brands under Truss that offer consumers a variety of options, and are either infused with tetrahydrocannabinol (THC) or cannabidiol (CBD). Although a win for Biden and the legalization of recreational pot in New Jersey, Arizona, Montana, and South Dakota (plus Mississippi's passing of a medical marijuana initiative) will help the cannabis industry grow in the U.S., it may not have much of an impact on a Canadian producer like HEXO. That is not as significant as the 1 for 12 reverse split Aurora Cannabis did earlier this year, but still doesn't show shareholders that internal confidence at HEXO is high. | Since Nov. 1, the Horizons Marijuana Life Sciences ETF is up over 20%, which is even higher than the S&P 500's 8% gains this month. When backing out those items and making adjustments to other non-cash items, non-recurring expenses, and investment gains and losses,the company's adjusted earnings before income, taxes, depreciation, and amortization (EBITDA) was a much lighter loss of CA$3.3 million. HEXO's stock has been falling heavily this year and is down around 50% in 2020 as of Nov. 12, while the Horizons Marijuana Life Sciences ETF has fallen by a more modest 18% over the same period. | Without the U.S. government legalizing marijuana at the federal level, HEXO's cannabis products can't cross the border into the U.S., making it moot whether individual states have legalized marijuana or not. When compared to other notable pot stocks, shares of HEXO are trading at a decent price-to-sales (P/S) multiple of 3.8: HEXO PS Ratio data by YCharts Using the price-to-sales multiple can be effective in gauging a stock's value when a company isn't yet profitable, as is the case with many cannabis stocks. HEXO's stock has been falling heavily this year and is down around 50% in 2020 as of Nov. 12, while the Horizons Marijuana Life Sciences ETF has fallen by a more modest 18% over the same period. | Cannabis stocks are showing much needed signs of life after the election of Joe Biden and the legalization of recreational marijuana in four new states. Net revenue of 27.1 million Canadian dollars grew 76% year over year and was up 23% from the third quarter. Impairment charges were a modest CA$200,000 in Q3, but in the second quarter, they had totaled CA$250.2 million. |
37114.0 | 2020-11-13 00:00:00 UTC | Pre-Market Most Active for Nov 13, 2020 : NIO, LI, XPEV, PLTR, DKNG, ACB, FSR, VIPS, AAL, SQQQ, AAPL, KNDI | ACB | https://www.nasdaq.com/articles/pre-market-most-active-for-nov-13-2020-%3A-nio-li-xpev-pltr-dkng-acb-fsr-vips-aal-sqqq-aapl | nan | nan | The NASDAQ 100 Pre-Market Indicator is up 74.94 to 11,902.08. The total Pre-Market volume is currently 36,377,867 shares traded.
The following are the most active stocks for the pre-market session:
NIO Inc. (NIO) is +3.9201 at $52.22, with 11,312,394 shares traded.NIO is scheduled to provide an earnings report on 11/17/2020, for the fiscal quarter ending Sep2020. The consensus earnings per share forecast is -0.17 per share, which represents a -33 percent increase over the EPS one Year Ago
Li Auto Inc. (LI) is +7.96 at $39.74, with 10,943,553 shares traded. GlobeNewswire Reports: Li Auto Inc. Announces Unaudited Third Quarter 2020 Financial Results
XPeng Inc. (XPEV) is +3.27 at $48.00, with 5,285,254 shares traded., following a 52-week high recorded in prior regular session.
Palantir Technologies Inc. (PLTR) is -0.22 at $14.36, with 2,603,720 shares traded. PLTR's current last sale is 119.67% of the target price of $12.
DraftKings Inc. (DKNG) is +4.67 at $45.92, with 2,291,204 shares traded. GlobeNewswire Reports: DraftKings Reports Third Quarter Results and Raises 2020 Revenue Guidance
Aurora Cannabis Inc. (ACB) is +0.37 at $7.36, with 1,717,619 shares traded. ACB's current last sale is 81.78% of the target price of $9.
Fisker Inc. (FSR) is +1.76 at $16.77, with 1,231,057 shares traded. As reported by Zacks, the current mean recommendation for FSR is in the "strong buy range".
Vipshop Holdings Limited (VIPS) is +1.6 at $23.75, with 1,039,769 shares traded. PR Newswire Reports: Vipshop Reports Unaudited Third Quarter 2020 Financial Results
American Airlines Group, Inc. (AAL) is +0.19 at $11.93, with 727,730 shares traded. AAL's current last sale is 119.3% of the target price of $10.
ProShares UltraPro Short QQQ (SQQQ) is -0.41 at $19.49, with 725,974 shares traded. This represents a 8.4% increase from its 52 Week Low.
Apple Inc. (AAPL) is +0.54 at $119.75, with 610,960 shares traded. Over the last four weeks they have had 5 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. The consensus EPS forecast is $1.39. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Kandi Technologies Group, Inc. (KNDI) is +0.5 at $7.42, with 599,939 shares traded. KNDI's current last sale is 61.83% of the target price of $12.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis Inc. (ACB) is +0.37 at $7.36, with 1,717,619 shares traded. ACB's current last sale is 81.78% of the target price of $9. XPeng Inc. (XPEV) is +3.27 at $48.00, with 5,285,254 shares traded., following a 52-week high recorded in prior regular session. | Aurora Cannabis Inc. (ACB) is +0.37 at $7.36, with 1,717,619 shares traded. ACB's current last sale is 81.78% of the target price of $9. The consensus earnings per share forecast is -0.17 per share, which represents a -33 percent increase over the EPS one Year Ago | Aurora Cannabis Inc. (ACB) is +0.37 at $7.36, with 1,717,619 shares traded. ACB's current last sale is 81.78% of the target price of $9. NIO Inc. (NIO) is +3.9201 at $52.22, with 11,312,394 shares traded.NIO is scheduled to provide an earnings report on 11/17/2020, for the fiscal quarter ending Sep2020. | Aurora Cannabis Inc. (ACB) is +0.37 at $7.36, with 1,717,619 shares traded. ACB's current last sale is 81.78% of the target price of $9. GlobeNewswire Reports: DraftKings Reports Third Quarter Results and Raises 2020 Revenue Guidance |
37115.0 | 2020-11-13 00:00:00 UTC | CANADA STOCKS - TSX rises 0.68% to 16,695.65 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.68-to-16695.65-2020-11-13 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.68 percent to 16,695.65
* Leading the index were Trillium Therapeutics Inc , up 12.3%, Intertape Polymer Group Inc ITP.TO, up 6.3%, and Celestica Inc CLS.TO, higher by 5.4%.
* Lagging shares were Altus Group Ltd (Ontario) AIF.TO, down 10.6%, BRP Inc DOO.TO, down 3.8%, and Inter Pipeline Ltd IPL.TO, lower by 3.7%.
* On the TSX 153 issues rose and 64 fell as a 2.4-to-1 ratio favored advancers. There were 4 new highs and no new lows, with total volume of 163.9 million shares.
* The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Enbridge Inc ENB.TO and Aurora Cannabis Inc ACB.TO.
* The TSX's energy group .SPTTEN rose 1.28 points, or 1.7%, while the financials sector .SPTTFS climbed 2.22 points, or 0.8%.
* West Texas Intermediate crude futures CLc1 fell 2.21%, or $0.91, to $40.21 a barrel. Brent crude LCOc1 fell 1.72%, or $0.75, to $42.78 O/R
* The TSX is off 2.2% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Enbridge Inc ENB.TO and Aurora Cannabis Inc ACB.TO. * The Toronto Stock Exchange's TSX rises 0.68 percent to 16,695.65 * Leading the index were Trillium Therapeutics Inc , up 12.3%, Intertape Polymer Group Inc ITP.TO, up 6.3%, and Celestica Inc CLS.TO, higher by 5.4%. * Lagging shares were Altus Group Ltd (Ontario) AIF.TO, down 10.6%, BRP Inc DOO.TO, down 3.8%, and Inter Pipeline Ltd IPL.TO, lower by 3.7%. | * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Enbridge Inc ENB.TO and Aurora Cannabis Inc ACB.TO. * On the TSX 153 issues rose and 64 fell as a 2.4-to-1 ratio favored advancers. * The TSX's energy group .SPTTEN rose 1.28 points, or 1.7%, while the financials sector .SPTTFS climbed 2.22 points, or 0.8%. | * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Enbridge Inc ENB.TO and Aurora Cannabis Inc ACB.TO. * The Toronto Stock Exchange's TSX rises 0.68 percent to 16,695.65 * Leading the index were Trillium Therapeutics Inc , up 12.3%, Intertape Polymer Group Inc ITP.TO, up 6.3%, and Celestica Inc CLS.TO, higher by 5.4%. * The TSX's energy group .SPTTEN rose 1.28 points, or 1.7%, while the financials sector .SPTTFS climbed 2.22 points, or 0.8%. | * The most heavily traded shares by volume were Manulife Financial Corp MFC.TO, Enbridge Inc ENB.TO and Aurora Cannabis Inc ACB.TO. * The Toronto Stock Exchange's TSX rises 0.68 percent to 16,695.65 * Leading the index were Trillium Therapeutics Inc , up 12.3%, Intertape Polymer Group Inc ITP.TO, up 6.3%, and Celestica Inc CLS.TO, higher by 5.4%. * On the TSX 153 issues rose and 64 fell as a 2.4-to-1 ratio favored advancers. |
37116.0 | 2020-11-13 00:00:00 UTC | Here's the Big Mistake Some Marijuana Stock Investors Are Making Right Now | ACB | https://www.nasdaq.com/articles/heres-the-big-mistake-some-marijuana-stock-investors-are-making-right-now-2020-11-13 | nan | nan | Happy days are here again for marijuana stocks. All of the top cannabis-focused exchange-traded funds (ETFs) are up more than 20% in November. Some of these ETFs' holdings have even soared a lot more than that.
This kind of momentum generates excitement, which, in turn, leads to even more momentum. There definitely are reasons to be more optimistic about the prospects for marijuana stocks. However, there's a big mistake that some cannabis investors are making right now.
Image source: Getty Images.
Getting the cart before the horse
Investors are understandably excited about the positive news for the U.S. cannabis industry stemming from the election results. It's not much of an exaggeration to say that the biggest winner on Election Day was marijuana.
Arguably the biggest story for the cannabis industry from the U.S. elections was that voters in four states approved recreational-marijuana legalization. While two of these new markets -- Montana and South Dakota -- will be small, the other two markets in Arizona and New Jersey present tremendous new opportunities for cannabis companies.
In addition, South Dakota and Mississippi voters approved the legalization of medical marijuana. Again, these don't represent huge new markets. The votes in these states, however, underscore the popular support for medical cannabis legalization across the U.S.
The big mistake that some investors are making, though, is the assumption that the U.S. is clearly on the way to changing federal laws related to cannabis. Yes, President-elect Biden could be more supportive of revising federal laws about medical cannabis and recognizing the authority of individual states to enforce their own recreational marijuana laws. But Biden isn't a diehard fan of cannabis reform.
More importantly, the primary obstacle to changing federal marijuana laws in the past is getting the Senate to even consider bills. As long as Sen. Mitch McConnell (R-Ky.) remains Senate majority leader, it's likely that he'll keep blocking cannabis legislation.
As it stands right now, the GOP will hold 50 Senate seats next year. Two run-off elections in Georgia will determine which party has a majority in the Senate. There's a pretty good chance that Republicans will win at least one of those races and hang onto control of the Senate. That would mean Sen. McConnell will be able to continue preventing cannabis bills from coming to the Senate floor for a vote.
Irrational exuberance
How can we know that some investors are getting too excited about the prospects for marijuana legalization in the U.S.? Take a look at how several of the top Canadian pot stocks have soared in recent days.
ACB data by YCharts.
Aurora Cannabis skyrocketed after Election Day, although it has given up some of its gains. Canopy Growth, Cronos Group, and Tilray also vaulted much higher.
None of these stocks directly benefit from the new states legalizing recreational and/or medical marijuana. However, they could be big winners if the U.S. legalizes marijuana at the federal level. Such a change would clear the way for Canadian companies to enter the U.S. cannabis market, while still listing their shares on major U.S. stock exchanges.
The key point, though, is that the prospects of this scenario happening aren't nearly as great as some investors appear to think. As a result, the big gains for Canadian pot stocks only reflect irrational exuberance -- at least for now.
No mistake about it
On the other hand, it makes perfect sense why investors are bullish about many U.S.-based marijuana stocks. For example, shares of Cresco Labs (OTC: CRLBF) and Green Thumb Industries (OTC: GTBIF) have delivered solid gains over the last couple of weeks for good reason.
The votes in Arizona and New Jersey, in particular, could open the door to tremendous growth opportunities for these companies and their peers. Green Thumb Industries CEO Ben Kovler referred to one of these opportunities in his comments about the company's Q3 results, stating, "New Jersey is great news for us as we think that legal market has the potential to mirror Illinois -- a single state, multibillion dollar legal cannabis market about to be born."
Some investors are jumping the gun with buying Canadian pot stocks based on the U.S. election results. But make no mistake about it: Those results are good news for several U.S. cannabis companies.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Keith Speights has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Cresco Labs Inc. and Green Thumb Industries. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ACB data by YCharts. Getting the cart before the horse Investors are understandably excited about the positive news for the U.S. cannabis industry stemming from the election results. Such a change would clear the way for Canadian companies to enter the U.S. cannabis market, while still listing their shares on major U.S. stock exchanges. | ACB data by YCharts. None of these stocks directly benefit from the new states legalizing recreational and/or medical marijuana. As a result, the big gains for Canadian pot stocks only reflect irrational exuberance -- at least for now. | ACB data by YCharts. Green Thumb Industries CEO Ben Kovler referred to one of these opportunities in his comments about the company's Q3 results, stating, "New Jersey is great news for us as we think that legal market has the potential to mirror Illinois -- a single state, multibillion dollar legal cannabis market about to be born." Here's The Marijuana Stock You've Been Waiting For A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. | ACB data by YCharts. Irrational exuberance How can we know that some investors are getting too excited about the prospects for marijuana legalization in the U.S.? Take a look at how several of the top Canadian pot stocks have soared in recent days. |
37117.0 | 2020-11-13 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Cisco, Disney, Pinduoduo, Urovant | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-cisco-disney-pinduoduo-urovant-2020-11-13 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
U.S. stock index futures rebounded on Friday as shares of Disney and Cisco advanced after both reported upbeat quarterly results, but investors remained cautious as many U.S. states imposed restrictions to curb the relentless surge in coronavirus cases. .N
At 6:51 ET, Dow e-minis 1YMc1 were up 0.77% at 29,216. S&P 500 e-minis ESc1 were up 0.71% at 3,557.75, while Nasdaq 100 e-minis NQc1 were up 0.73% at 11,906.5. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Farfetch Ltd FTCH.N, up 15.2% ** Fisker Inc FSR.N, up 12.7% ** Aurora Cannabis ACB.N, up 10.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** Gabelli Utility Closed Fund GUT.N, down 12.5% ** Revlon Inc REV.N, down 8.5% ** Genesco Inc GCO.N, down 6.8% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Urovant Sciences Ltd UROV.O, up 90.8% ** Hall Of Fame Resort & Entertainment Co HOFV.O, up 48.5% ** Opes Acquisition Equity Warrant OPESW.O, up 30.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** TOMI Environmental Solutions Inc TOMZ.O, down 25.3% ** Cassava Sciences Inc SAVA.O, down 20.8% ** EuroDry Ltd EDRY.O, down 17.6% ** Cisco CSCO.O: up 7.2% premarket BUZZ-Sees smaller-than-expected fall in Q2 revenue, shares jump
** Disney DIS.N: up 4.3% premarket BUZZ-Rises as return of live sports, parks recovery drive revenue beat
** Pinduoduo PDD.O: up 3.4% premarket BUZZ-Gains as Jefferies raises PT after Q3 results
** Urovant UROV.O: up 90.8% premarket BUZZ-Urovant jumps on Sumitovant Biopharma's buyout offer
** Cassava Sciences SAVA.O: down 20.8% premarket BUZZ-Slumps on proposed stock offering
** Organogenesis Holdings ORGO.O: down 1.6% premarket BUZZ-Falls on $56.9 mln discounted offering
** Cisco Systems CSCO.O: up 7.2% premarket BUZZ-Street View: Cisco looks to return to growth as pandemic effects wane
** Li Auto LI.O: up 20.0% premarket BUZZ-Surges on Q3 revenue beat, strong outlook
** American Well Corp AMWL.N: down 5.3% premarket BUZZ-Drops on bigger-than-expected Q3 loss
** Keros Therapeutics KROS.O: down 3.9% premarket BUZZ-Keros Therapeutics slips on $130 mln equity raise
(Compiled by Shreyasee Raj)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Farfetch Ltd FTCH.N, up 15.2% ** Fisker Inc FSR.N, up 12.7% ** Aurora Cannabis ACB.N, up 10.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** Gabelli Utility Closed Fund GUT.N, down 12.5% ** Revlon Inc REV.N, down 8.5% ** Genesco Inc GCO.N, down 6.8% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Urovant Sciences Ltd UROV.O, up 90.8% ** Hall Of Fame Resort & Entertainment Co HOFV.O, up 48.5% ** Opes Acquisition Equity Warrant OPESW.O, up 30.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** TOMI Environmental Solutions Inc TOMZ.O, down 25.3% ** Cassava Sciences Inc SAVA.O, down 20.8% ** EuroDry Ltd EDRY.O, down 17.6% ** Cisco CSCO.O: up 7.2% premarket BUZZ-Sees smaller-than-expected fall in Q2 revenue, shares jump ** Disney DIS.N: up 4.3% premarket BUZZ-Rises as return of live sports, parks recovery drive revenue beat ** Pinduoduo PDD.O: up 3.4% premarket BUZZ-Gains as Jefferies raises PT after Q3 results ** Urovant UROV.O: up 90.8% premarket BUZZ-Urovant jumps on Sumitovant Biopharma's buyout offer ** Cassava Sciences SAVA.O: down 20.8% premarket BUZZ-Slumps on proposed stock offering ** Organogenesis Holdings ORGO.O: down 1.6% premarket BUZZ-Falls on $56.9 mln discounted offering ** Cisco Systems CSCO.O: up 7.2% premarket BUZZ-Street View: Cisco looks to return to growth as pandemic effects wane ** Li Auto LI.O: up 20.0% premarket BUZZ-Surges on Q3 revenue beat, strong outlook ** American Well Corp AMWL.N: down 5.3% premarket BUZZ-Drops on bigger-than-expected Q3 loss ** Keros Therapeutics KROS.O: down 3.9% premarket BUZZ-Keros Therapeutics slips on $130 mln equity raise (Compiled by Shreyasee Raj) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures rebounded on Friday as shares of Disney and Cisco advanced after both reported upbeat quarterly results, but investors remained cautious as many U.S. states imposed restrictions to curb the relentless surge in coronavirus cases. .N At 6:51 ET, Dow e-minis 1YMc1 were up 0.77% at 29,216. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Farfetch Ltd FTCH.N, up 15.2% ** Fisker Inc FSR.N, up 12.7% ** Aurora Cannabis ACB.N, up 10.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** Gabelli Utility Closed Fund GUT.N, down 12.5% ** Revlon Inc REV.N, down 8.5% ** Genesco Inc GCO.N, down 6.8% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Urovant Sciences Ltd UROV.O, up 90.8% ** Hall Of Fame Resort & Entertainment Co HOFV.O, up 48.5% ** Opes Acquisition Equity Warrant OPESW.O, up 30.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** TOMI Environmental Solutions Inc TOMZ.O, down 25.3% ** Cassava Sciences Inc SAVA.O, down 20.8% ** EuroDry Ltd EDRY.O, down 17.6% ** Cisco CSCO.O: up 7.2% premarket BUZZ-Sees smaller-than-expected fall in Q2 revenue, shares jump ** Disney DIS.N: up 4.3% premarket BUZZ-Rises as return of live sports, parks recovery drive revenue beat ** Pinduoduo PDD.O: up 3.4% premarket BUZZ-Gains as Jefferies raises PT after Q3 results ** Urovant UROV.O: up 90.8% premarket BUZZ-Urovant jumps on Sumitovant Biopharma's buyout offer ** Cassava Sciences SAVA.O: down 20.8% premarket BUZZ-Slumps on proposed stock offering ** Organogenesis Holdings ORGO.O: down 1.6% premarket BUZZ-Falls on $56.9 mln discounted offering ** Cisco Systems CSCO.O: up 7.2% premarket BUZZ-Street View: Cisco looks to return to growth as pandemic effects wane ** Li Auto LI.O: up 20.0% premarket BUZZ-Surges on Q3 revenue beat, strong outlook ** American Well Corp AMWL.N: down 5.3% premarket BUZZ-Drops on bigger-than-expected Q3 loss ** Keros Therapeutics KROS.O: down 3.9% premarket BUZZ-Keros Therapeutics slips on $130 mln equity raise (Compiled by Shreyasee Raj) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures rebounded on Friday as shares of Disney and Cisco advanced after both reported upbeat quarterly results, but investors remained cautious as many U.S. states imposed restrictions to curb the relentless surge in coronavirus cases. S&P 500 e-minis ESc1 were up 0.71% at 3,557.75, while Nasdaq 100 e-minis NQc1 were up 0.73% at 11,906.5. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Farfetch Ltd FTCH.N, up 15.2% ** Fisker Inc FSR.N, up 12.7% ** Aurora Cannabis ACB.N, up 10.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** Gabelli Utility Closed Fund GUT.N, down 12.5% ** Revlon Inc REV.N, down 8.5% ** Genesco Inc GCO.N, down 6.8% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Urovant Sciences Ltd UROV.O, up 90.8% ** Hall Of Fame Resort & Entertainment Co HOFV.O, up 48.5% ** Opes Acquisition Equity Warrant OPESW.O, up 30.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** TOMI Environmental Solutions Inc TOMZ.O, down 25.3% ** Cassava Sciences Inc SAVA.O, down 20.8% ** EuroDry Ltd EDRY.O, down 17.6% ** Cisco CSCO.O: up 7.2% premarket BUZZ-Sees smaller-than-expected fall in Q2 revenue, shares jump ** Disney DIS.N: up 4.3% premarket BUZZ-Rises as return of live sports, parks recovery drive revenue beat ** Pinduoduo PDD.O: up 3.4% premarket BUZZ-Gains as Jefferies raises PT after Q3 results ** Urovant UROV.O: up 90.8% premarket BUZZ-Urovant jumps on Sumitovant Biopharma's buyout offer ** Cassava Sciences SAVA.O: down 20.8% premarket BUZZ-Slumps on proposed stock offering ** Organogenesis Holdings ORGO.O: down 1.6% premarket BUZZ-Falls on $56.9 mln discounted offering ** Cisco Systems CSCO.O: up 7.2% premarket BUZZ-Street View: Cisco looks to return to growth as pandemic effects wane ** Li Auto LI.O: up 20.0% premarket BUZZ-Surges on Q3 revenue beat, strong outlook ** American Well Corp AMWL.N: down 5.3% premarket BUZZ-Drops on bigger-than-expected Q3 loss ** Keros Therapeutics KROS.O: down 3.9% premarket BUZZ-Keros Therapeutics slips on $130 mln equity raise (Compiled by Shreyasee Raj) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures rebounded on Friday as shares of Disney and Cisco advanced after both reported upbeat quarterly results, but investors remained cautious as many U.S. states imposed restrictions to curb the relentless surge in coronavirus cases. S&P 500 e-minis ESc1 were up 0.71% at 3,557.75, while Nasdaq 100 e-minis NQc1 were up 0.73% at 11,906.5. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Farfetch Ltd FTCH.N, up 15.2% ** Fisker Inc FSR.N, up 12.7% ** Aurora Cannabis ACB.N, up 10.7% The top three NYSE percentage losers premarket .PRPL.NQ: ** Gabelli Utility Closed Fund GUT.N, down 12.5% ** Revlon Inc REV.N, down 8.5% ** Genesco Inc GCO.N, down 6.8% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Urovant Sciences Ltd UROV.O, up 90.8% ** Hall Of Fame Resort & Entertainment Co HOFV.O, up 48.5% ** Opes Acquisition Equity Warrant OPESW.O, up 30.6% The top three Nasdaq percentage losers premarket .PRPL.O: ** TOMI Environmental Solutions Inc TOMZ.O, down 25.3% ** Cassava Sciences Inc SAVA.O, down 20.8% ** EuroDry Ltd EDRY.O, down 17.6% ** Cisco CSCO.O: up 7.2% premarket BUZZ-Sees smaller-than-expected fall in Q2 revenue, shares jump ** Disney DIS.N: up 4.3% premarket BUZZ-Rises as return of live sports, parks recovery drive revenue beat ** Pinduoduo PDD.O: up 3.4% premarket BUZZ-Gains as Jefferies raises PT after Q3 results ** Urovant UROV.O: up 90.8% premarket BUZZ-Urovant jumps on Sumitovant Biopharma's buyout offer ** Cassava Sciences SAVA.O: down 20.8% premarket BUZZ-Slumps on proposed stock offering ** Organogenesis Holdings ORGO.O: down 1.6% premarket BUZZ-Falls on $56.9 mln discounted offering ** Cisco Systems CSCO.O: up 7.2% premarket BUZZ-Street View: Cisco looks to return to growth as pandemic effects wane ** Li Auto LI.O: up 20.0% premarket BUZZ-Surges on Q3 revenue beat, strong outlook ** American Well Corp AMWL.N: down 5.3% premarket BUZZ-Drops on bigger-than-expected Q3 loss ** Keros Therapeutics KROS.O: down 3.9% premarket BUZZ-Keros Therapeutics slips on $130 mln equity raise (Compiled by Shreyasee Raj) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures rebounded on Friday as shares of Disney and Cisco advanced after both reported upbeat quarterly results, but investors remained cautious as many U.S. states imposed restrictions to curb the relentless surge in coronavirus cases. .N At 6:51 ET, Dow e-minis 1YMc1 were up 0.77% at 29,216. |
37118.0 | 2020-11-12 00:00:00 UTC | Aurora Cannabis Feels the Heat of Share Dilution; Analyst Weighs In | ACB | https://www.nasdaq.com/articles/aurora-cannabis-feels-the-heat-of-share-dilution-analyst-weighs-in-2020-11-12 | nan | nan | Investors’ pain can hardly have been more acute over the last 18 months than for those putting their trust in Aurora Cannabis (ACB). The nascent Canadian cannabis industry’s problems over the last year and a half have been well documented, and Aurora’s slide has been one of the more eye-catching descents.
November has been particularly volatile for investors. Joe Biden’s presidential win has brought with it almost certain marijuana reform at the federal level which will allow Aurora and fellow Canadian LPs to enter the U.S. market. Cannabis investors evidently liked this development- particularly Aurora investors - who sent shares up by a barely believable 153% over the past week.
But what goes up usually goes down, and history has shown that is certainly true in Aurora’s case. The stock is sinking again after Aurora took advantage of the outsized gains by announcing it plans to sell more shares. On Tuesday, Aurora announced a $125 million share offering in order to raise much needed capital. At a price of $7.50 per unit, and consisting of approximately 16.7 million units, the sell will lead to dilution of at least 17% based on Tuesday’s closing price.
With a notable history of share dilution, disgruntled investors were once again scurrying to the exit doors. But the latest development is hardly surprising, says Jefferies analyst Owen Bennett.
The analyst had already argued the massive share gains were down to “a combination of retail FOMO and a short squeeze,” and anticipated Aurora might take advantage of the “inflated valuation.” And that is what the company has done. However, with the very real possibility of the U.S. market now opening up, Bennett says the move is a clever one.
“Aurora is likely to get criticism for this move, one of the main bear points on the stock in the past being significant dilution,” Bennett said. “And while we agree it is a bit harsh on retail investors that bought into the stock in recent days, it is also a shrewd move. Aurora has current debt/lease obligations of C$141mn, US CBD represents a compelling opportunity, and there is also the possibility that the US THC market opens up sooner rather than later. For all of these the company needs cash.”
Overall, there’s no change to Bennett’s rating which stays a Hold, while the C$6.9 ($5.28) price target remains, too. This figure implies a 25% downside from current levels. (To watch Bennett’s track record, click here)
Wall Street backs Bennett’s caution here, as TipRanks analytics reveal ACB as a Hold. Based on 14 analysts tracked in the last 3 months, 12 rate the stock a Hold while 2 issue a Sell on the stock. The 12-month average price target stands at $21.00, marking a 19% upside from where the stock is currently trading. (See ACB stock analysis on TipRanks)
To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors’ pain can hardly have been more acute over the last 18 months than for those putting their trust in Aurora Cannabis (ACB). (To watch Bennett’s track record, click here) Wall Street backs Bennett’s caution here, as TipRanks analytics reveal ACB as a Hold. (See ACB stock analysis on TipRanks) To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. | (See ACB stock analysis on TipRanks) To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Investors’ pain can hardly have been more acute over the last 18 months than for those putting their trust in Aurora Cannabis (ACB). (To watch Bennett’s track record, click here) Wall Street backs Bennett’s caution here, as TipRanks analytics reveal ACB as a Hold. | (See ACB stock analysis on TipRanks) To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Investors’ pain can hardly have been more acute over the last 18 months than for those putting their trust in Aurora Cannabis (ACB). (To watch Bennett’s track record, click here) Wall Street backs Bennett’s caution here, as TipRanks analytics reveal ACB as a Hold. | Investors’ pain can hardly have been more acute over the last 18 months than for those putting their trust in Aurora Cannabis (ACB). (To watch Bennett’s track record, click here) Wall Street backs Bennett’s caution here, as TipRanks analytics reveal ACB as a Hold. (See ACB stock analysis on TipRanks) To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. |
37119.0 | 2020-11-12 00:00:00 UTC | CANADA STOCKS - TSX falls 1.32% to 16,552.54 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-1.32-to-16552.54-2020-11-12 | nan | nan | * The Toronto Stock Exchange's TSX falls 1.32 percent to 16,552.54
* Leading the index were Intertape Polymer Group Inc , up 20.7%, SSR Mining Inc SSRM.TO, up 9.5%, and Teranga Gold Corp TGZ.TO, higher by 6.7%.
* Lagging shares were NFI Group Inc NFI.TO, down 12.8%, Cascades Inc CAS.TO, down 10.6%, and Vermilion Energy Inc VET.TO, lower by 8.7%.
* On the TSX 64 issues rose and 158 fell as a 0.4-to-1 ratio favored decliners. There were 3 new highs and no new lows, with total volume of 186.0 million shares.
* The most heavily traded shares by volume were Enbridge Inc ENB.TO, Aurora Cannabis Inc ACB.TO and Suncor Energy Inc SU.TO.
* The TSX's energy group .SPTTEN fell 5.12 points, or 6.4%, while the financials sector .SPTTFS slipped 3.86 points, or 1.3%.
* West Texas Intermediate crude futures CLc1 fell 1.16%, or $0.48, to $40.97 a barrel. Brent crude LCOc1 fell 1.05%, or $0.46, to $43.34 O/R
* The TSX is off 3% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Enbridge Inc ENB.TO, Aurora Cannabis Inc ACB.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX falls 1.32 percent to 16,552.54 * Leading the index were Intertape Polymer Group Inc , up 20.7%, SSR Mining Inc SSRM.TO, up 9.5%, and Teranga Gold Corp TGZ.TO, higher by 6.7%. * Lagging shares were NFI Group Inc NFI.TO, down 12.8%, Cascades Inc CAS.TO, down 10.6%, and Vermilion Energy Inc VET.TO, lower by 8.7%. | * The most heavily traded shares by volume were Enbridge Inc ENB.TO, Aurora Cannabis Inc ACB.TO and Suncor Energy Inc SU.TO. * The TSX's energy group .SPTTEN fell 5.12 points, or 6.4%, while the financials sector .SPTTFS slipped 3.86 points, or 1.3%. Brent crude LCOc1 fell 1.05%, or $0.46, to $43.34 O/R * The TSX is off 3% for the year. | * The most heavily traded shares by volume were Enbridge Inc ENB.TO, Aurora Cannabis Inc ACB.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX falls 1.32 percent to 16,552.54 * Leading the index were Intertape Polymer Group Inc , up 20.7%, SSR Mining Inc SSRM.TO, up 9.5%, and Teranga Gold Corp TGZ.TO, higher by 6.7%. * The TSX's energy group .SPTTEN fell 5.12 points, or 6.4%, while the financials sector .SPTTFS slipped 3.86 points, or 1.3%. | * The most heavily traded shares by volume were Enbridge Inc ENB.TO, Aurora Cannabis Inc ACB.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX falls 1.32 percent to 16,552.54 * Leading the index were Intertape Polymer Group Inc , up 20.7%, SSR Mining Inc SSRM.TO, up 9.5%, and Teranga Gold Corp TGZ.TO, higher by 6.7%. * Lagging shares were NFI Group Inc NFI.TO, down 12.8%, Cascades Inc CAS.TO, down 10.6%, and Vermilion Energy Inc VET.TO, lower by 8.7%. |
37120.0 | 2020-11-12 00:00:00 UTC | Why Aurora Cannabis Is Not the Play on Recent Cannabis Optimism | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-is-not-the-play-on-recent-cannabis-optimism-2020-11-12 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Aurora Cannabis (NYSE:ACB) stock took off last week. During those five trading days, ACB stock gained a whopping 142%. Tack on a 14.5% rally on Monday, and shares came close to tripling in six sessions.
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Source: Jarretera / Shutterstock.com
That said, the catalyst appears to be U.S. elections. Note that I wrote “elections” — plural. Headlines attributed the sector rally to the expected, and still-disputed, win by Joe Biden in the presidential contest. But to investors who understand the sector, it’s state-level triumphs that are more important.
After all, what will likely be a still-divided federal government probably won’t move on complete legalization, or even repeal the SAFE Act. But at the state level, cannabis legalization saw a clean sweep on Election Day.
Medical marijuana now is legal, or soon to be legal, in 35 states and Washington D.C. In 15 states, the same is true for recreational use.
The big wins in state initiatives and referendums show that public support is there, even if the federal response is likely to be slow. In other words, legal U.S. cannabis — and more importantly the ability of Canadian operators like Aurora to enter the market — is another step closer to reality.
In turn, that’s the good news for Aurora stock. The problem, as we’ve learned this week, is that it’s still the only good news for ACB stock. This is a business that remains in serious trouble. And although I’m a big-time cannabis bull, I’m far from convinced that the American market will be able to save it.
Soft Earnings
Investors seemed to like Aurora’s fiscal first quarter earnings on Monday morning. Again, Aurora Cannabis stock gained almost 15%. Other major cannabis names posted far smaller gains, or even declines.
7 Solar Stocks to Buy for Biden's Green Wave
Honestly, I’m not sure why. Revenue admittedly topped Wall Street estimates, but sales were essentially flat quarter-over-quarter.
Also, Aurora cut its losses, at least on an adjusted basis. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) loss, excluding costs related to its restructuring, was just 10.5 million CAD. That’s far better than the 32.3 million CAD loss posted in the prior quarter.
Here, too, however, the news isn’t as good as it seemed. Aurora simply slashed its spending. SG&A (selling, general, and administrative) and R&D (research and development) expense combined (and, once again, on an adjusted basis) dropped to 43 million CAD from 66 million CAD the quarter before.
That’s not really good news. Cannabis is a growth industry, even if the Canadian operators are managing through a difficult period. A company can’t drive growth while it’s cutting costs by over one-third in a matter of months.
The problem, as I’ve written before, and as Aurora management itself has detailed, is that the company has no other choice. Aurora has too much debt, and even before interest expense is posting a loss.
That said, debt and interest payments in the quarter were 18.2 million CAD. Capital expenditures (not accounted for in Adjusted EBITDA) were another 14.9 million CAD.
In other words, Aurora still needs to close a roughly 42 million CAD gap to get just to breakeven free cash flow. It generated only 68 million CAD in sales, and roughly 35 million CAD in gross profit, in fiscal Q1.
More Sales of ACB Stock
As that gap persists, Aurora needs to fund itself somehow. Lenders aren’t interested, given a debt load, and so the company needs to keep selling ACB stock.
Incredibly, in fiscal Q1, stock sales through a so-called “at the market” agreement totaled 114 million CAD. Aurora issued more than 15 million shares in the quarter, according to a filing with Canadian regulators. Shareholders were diluted by well more than 10% just within three months.
Again, Aurora has no other choice. But the constant share sales have pressured the Aurora stock price — and are doing so again. After the close Tuesday, Aurora disclosed a proposed offering of units at $7.50. Another 17 million shares are being sold. Institutional investors also are getting a warrant at $9 that doesn’t expire until early 2024.
Because of that, ACB stock — after dropping 26% in regular trading — fell another 16% since then.
Better Options Elsewhere
This type of trading isn’t new for Aurora. Back in May, investors cheered Aurora’s fiscal third quarter earnings report. Then, Aurora stock almost tripled in just three sessions. But as I thought they would, investors eventually figured out that the report simply wasn’t that good. ACB stock faded continuously for months, and by early October was back to new lows.
A single quarter does not change the core problem for Aurora stock. As I’ve said for some time now, there’s a vicious cycle at play here. Aurora has to sell stock to fund itself, which pressures the stock price, which means it has to sell more stock at an even lower price to keep funding itself.
The only thing that breaks the cycle is a business that can generate cash. There’s little, if any, sign in Q1 that the company is close to that point. Aurora promised positive Adjusted EBITDA in Q2 (after originally targeting Q4 FY2020, and then Q1 FY2021), but even that doesn’t get the company in the black (or all that close) in terms of free cash flow.
Ostensibly, U.S. legalization could accelerate growth to the point where Aurora can become profitable and start to fix its balance sheet. But I’m truthfully skeptical Aurora can last long enough to see that legalization without a restructuring. And even if it can hold on, it doesn’t have the resources to attack the American market in the way that other Canadian giants will.
Overall, it bears repeating: I’m a big-time cannabis bull. I’ve kept my faith in the sector despite the admittedly disappointing early results in Canada. This still is going to be a big business worldwide. Many companies, and many investors, will make a lot of money.
Unfortunately, I just don’t believe that Aurora, or Aurora shareholders, will be among them.
On the date of publication, neither Matt McCall nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.
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The post Why Aurora Cannabis Is Not the Play on Recent Cannabis Optimism appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Aurora Cannabis (NYSE:ACB) stock took off last week. During those five trading days, ACB stock gained a whopping 142%. ACB) logo on a web page" width="300" height="169"> Source: Jarretera / Shutterstock.com That said, the catalyst appears to be U.S. elections. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Aurora Cannabis (NYSE:ACB) stock took off last week. During those five trading days, ACB stock gained a whopping 142%. ACB) logo on a web page" width="300" height="169"> Source: Jarretera / Shutterstock.com That said, the catalyst appears to be U.S. elections. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Aurora Cannabis (NYSE:ACB) stock took off last week. During those five trading days, ACB stock gained a whopping 142%. ACB) logo on a web page" width="300" height="169"> Source: Jarretera / Shutterstock.com That said, the catalyst appears to be U.S. elections. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Aurora Cannabis (NYSE:ACB) stock took off last week. During those five trading days, ACB stock gained a whopping 142%. ACB) logo on a web page" width="300" height="169"> Source: Jarretera / Shutterstock.com That said, the catalyst appears to be U.S. elections. |
37121.0 | 2020-11-12 00:00:00 UTC | Why Aurora Cannabis Stock Is Still Going Down Today | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-stock-is-still-going-down-today-2020-11-12 | nan | nan | What happened
It's been a rough week for investors in marijuana stocks, and for investors in Aurora Cannabis (NYSE: ACB) in particular. Aurora stock hasn't seen an up day since Monday, when the election results were mostly finalized.
Because Vice President-elect Kamala Harris had campaigned on a plan to decriminalize marijuana, and expunge the records of those with pot-related convictions, it was assumed Monday that the Democrats' victory would be good news for marijuana stocks such as Aurora.
But following several reports of bad news for the company, Aurora Cannabis stock is trading down for the third day in a row today, falling 4.5% through 11:50 a.m. EST.
Image source: Getty Images.
So what
Aurora's earnings news showed sales down 10% year over year, and an $81 million net loss. Then Aurora said that its free cash flow was still going negative, with $93 million in cash burned during the first fiscal quarter of 2021.
And then the company added insult to financial injury, announcing plans to sell 20 million new shares in an effort to raise $150 million to replace its lost cash.
Now what
Will the sell-off ever end? Investors can hope. If the president-elect even hints at a desire to move forward with federal legalization of marijuana, I expect Aurora shares will jump on the change in sentiment. For the stock to make sustained gains, however, the company must find a way to earn better profits from its product, and start generating cash from its business.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened It's been a rough week for investors in marijuana stocks, and for investors in Aurora Cannabis (NYSE: ACB) in particular. But following several reports of bad news for the company, Aurora Cannabis stock is trading down for the third day in a row today, falling 4.5% through 11:50 a.m. EST. If the president-elect even hints at a desire to move forward with federal legalization of marijuana, I expect Aurora shares will jump on the change in sentiment. | What happened It's been a rough week for investors in marijuana stocks, and for investors in Aurora Cannabis (NYSE: ACB) in particular. But following several reports of bad news for the company, Aurora Cannabis stock is trading down for the third day in a row today, falling 4.5% through 11:50 a.m. EST. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | What happened It's been a rough week for investors in marijuana stocks, and for investors in Aurora Cannabis (NYSE: ACB) in particular. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Aurora Cannabis Inc. wasn't one of them! See the 10 stocks *Stock Advisor returns as of October 20, 2020 Rich Smith has no position in any of the stocks mentioned. | What happened It's been a rough week for investors in marijuana stocks, and for investors in Aurora Cannabis (NYSE: ACB) in particular. Then Aurora said that its free cash flow was still going negative, with $93 million in cash burned during the first fiscal quarter of 2021. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. |
37122.0 | 2020-11-12 00:00:00 UTC | CANADA STOCKS-TSX falls as energy drags, virus cases surge | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-as-energy-drags-virus-cases-surge-2020-11-12 | nan | nan | Nov 12 (Reuters) - Canada's main stock index was set to snap a three day winning streak on Thursday, led by a tumble in energy stocks, as rising global coronavirus cases dented sentiment.
* New York introduced social distancing restrictions on Wednesday, as new coronavirus cases in the United States surged above 100,000 for an eighth consecutive day, while Italy surpassed the 1-million infections mark to become one of the top 10 worst-affected countries.
* The energy sector .SPTTEN dropped 2.2%, the most among the six major sectors trading lower. O/R
* At 9:44 a.m. ET (1444 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 54.46 points, or 0.32%, at 16,719.68.
* Limiting losses in markets, the materials sector .GSPTTMT, which includes precious and base metals miners, added 1.5%, supported by higher gold prices.
** Bullion prices gained as optimism over a potential COVID-19 vaccine were overshadowed by worries over the logistics of its eventual roll-out. GOL/
* The largest percentage gainer on the TSX was Intertape Polymer Group Inc ITP.TO, which jumped 20%, after the packaging products maker posted third-quarter results above estimates.
* Its gains were followed by Home Capital Group Inc HCG.TO, which rose 5.6%, after multiple brokerages raised their price targets on the mortgage lender's stock.
* On the TSX, 103 issues were higher, while 114 issues declined for a 1.11-to-1 ratio to the downside, with 22.74 million shares traded.
* Bus manufacturer NFI Group Inc NFI.TO fell 6.7%, the most on the TSX, and the second biggest decliner was oil producer Canadian Natural Resources Limited CNQ.TO, down 3.3%.
* The most heavily traded shares by volume were Enbridge Inc ENB.TO, Aurora Cannabis Inc ACB.TO and Green Organic Dutchman Holdings Ltd TGOD.TO.
* The TSX posted one new 52-week highs and no new low.
* Across all Canadian issues there were 11 new 52-week highs and two new lows, with total volume of 38.92 million shares.
(Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Enbridge Inc ENB.TO, Aurora Cannabis Inc ACB.TO and Green Organic Dutchman Holdings Ltd TGOD.TO. * New York introduced social distancing restrictions on Wednesday, as new coronavirus cases in the United States surged above 100,000 for an eighth consecutive day, while Italy surpassed the 1-million infections mark to become one of the top 10 worst-affected countries. * Limiting losses in markets, the materials sector .GSPTTMT, which includes precious and base metals miners, added 1.5%, supported by higher gold prices. | * The most heavily traded shares by volume were Enbridge Inc ENB.TO, Aurora Cannabis Inc ACB.TO and Green Organic Dutchman Holdings Ltd TGOD.TO. Nov 12 (Reuters) - Canada's main stock index was set to snap a three day winning streak on Thursday, led by a tumble in energy stocks, as rising global coronavirus cases dented sentiment. * On the TSX, 103 issues were higher, while 114 issues declined for a 1.11-to-1 ratio to the downside, with 22.74 million shares traded. | * The most heavily traded shares by volume were Enbridge Inc ENB.TO, Aurora Cannabis Inc ACB.TO and Green Organic Dutchman Holdings Ltd TGOD.TO. Nov 12 (Reuters) - Canada's main stock index was set to snap a three day winning streak on Thursday, led by a tumble in energy stocks, as rising global coronavirus cases dented sentiment. * Its gains were followed by Home Capital Group Inc HCG.TO, which rose 5.6%, after multiple brokerages raised their price targets on the mortgage lender's stock. | * The most heavily traded shares by volume were Enbridge Inc ENB.TO, Aurora Cannabis Inc ACB.TO and Green Organic Dutchman Holdings Ltd TGOD.TO. Nov 12 (Reuters) - Canada's main stock index was set to snap a three day winning streak on Thursday, led by a tumble in energy stocks, as rising global coronavirus cases dented sentiment. * The TSX posted one new 52-week highs and no new low. |
37123.0 | 2020-11-12 00:00:00 UTC | This U.S. Marijuana Stock Is Still Running Circles Around Aurora Cannabis | ACB | https://www.nasdaq.com/articles/this-u.s.-marijuana-stock-is-still-running-circles-around-aurora-cannabis-2020-11-12 | nan | nan | Somewhat surprisingly, Aurora Cannabis (NYSE: ACB) seems to be the center of attention for many cannabis investors. It's the most popular pot stock on the Robinhood trading platform. Aurora's average trading volume has been much higher than its rivals in recent weeks.
Last week's election results, combined with better-than-expected revenue in Aurora's fiscal year 2021 first quarter, appear to have increased investors' optimism. But there's a U.S. marijuana stock that's still running circles around Aurora: Curaleaf Holdings (OTC: CURLF). Here are three key ways that Curaleaf is beating Aurora.
Image source: Getty Images.
1. Diverging stock charts
Some investors reacted enthusiastically to Aurora's major rebound last week and early this week. However, it was easy to tell that the good times wouldn't keep rolling for long. Sure enough, Aurora's share price fell dramatically over the last couple of days.
It's important to understand that even if Aurora had kept its big recent gains, it would still badly underperform Curaleaf. The stock charts of these two cannabis companies have shown diverging paths throughout much of this year.
CURLF data by YCharts
Aurora and Curaleaf started out 2020 with market caps of close to $3 billion, with Aurora a little under that level and Curaleaf a little over it. Now, Curaleaf's market cap is more than four times greater than Aurora's.
2. Soaring sales vs. stagnant sales
Curaleaf has absolutely clobbered Aurora when it comes to stock performance for a simple reason: Its business is booming while Aurora's isn't. Just look at the two companies' most recent quarterly results.
Curaleaf reported managed revenue of $121.4 million in the second quarter of 2020. This reflected a year-over-year increase of 120% and a quarter-over-quarter gain of 16%. The company estimated that its sales would have been $25.6 million higher without the negative impact of the COVID-19 pandemic, which hurt sales in Massachusetts and Nevada especially.
Meanwhile, Aurora posted fiscal 2021 Q1 revenue of 67.8 million in Canadian dollars (roughly US$52 million). Although this total came in a little higher than expected, it still represented a year-over-year decline of 10% and a sequential increase of only 0.4%.
Curaleaf continues to gain share in the fast-growing U.S. cannabis market. Aurora is losing share in the Canadian recreational marijuana market, where the company makes more than half its total revenue.
3. No contest in the battle of bottom lines
An even starker contrast can be found on the two companies' bottom lines. Neither is consistently profitable yet, but Curaleaf is much closer to reaching the important milestone.
Curaleaf posted a net loss of $2 million in its latest reported quarter, with its bottom line trending in a clearly positive direction. The company recorded all-time high adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $28 million, more than five times higher than its adjusted EBITDA in the prior-year period and up 40% from the previous quarter.
How did Aurora fare in its latest quarter? The Canadian cannabis producer yet again reported a huge net loss, this time coming in at CA$107.2 million (around US$82 million). It generated an adjusted EBITDA loss of CA$57.9 million, nearly two times greater than its adjusted EBITDA loss in the previous quarter.
Sure, one-time expenses made Aurora's numbers worse than they would have otherwise been. The company still hopes to deliver positive adjusted EBITDA next quarter. However, there's really no contest between Curaleaf and Aurora in the battle of bottom lines.
A potential catalyst
Some investors might hope that the U.S. elections will pave the way for some form of federal marijuana legalization that allows Aurora to enter the U.S. cannabis market. If this happened, it would definitely be a major catalyst for the stock.
However, the likelihood right now is that the GOP will retain control of the Senate. This means Sen. Mitch McConnell could hold onto his position as Senate Majority Leader and continue blocking cannabis bills from Senate votes.
Even if there are changes to federal cannabis laws, Curaleaf would probably emerge as a bigger winner than Aurora. The company could list its shares on a major U.S. stock exchange if the federal government recognized the authority of states to enforce their own marijuana laws. Curaleaf's head start in the U.S. market would also give it an edge over Aurora. Look for this U.S. marijuana stock to keep running circles around Aurora well into the future.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Somewhat surprisingly, Aurora Cannabis (NYSE: ACB) seems to be the center of attention for many cannabis investors. Last week's election results, combined with better-than-expected revenue in Aurora's fiscal year 2021 first quarter, appear to have increased investors' optimism. A potential catalyst Some investors might hope that the U.S. elections will pave the way for some form of federal marijuana legalization that allows Aurora to enter the U.S. cannabis market. | Somewhat surprisingly, Aurora Cannabis (NYSE: ACB) seems to be the center of attention for many cannabis investors. Last week's election results, combined with better-than-expected revenue in Aurora's fiscal year 2021 first quarter, appear to have increased investors' optimism. Curaleaf posted a net loss of $2 million in its latest reported quarter, with its bottom line trending in a clearly positive direction. | Somewhat surprisingly, Aurora Cannabis (NYSE: ACB) seems to be the center of attention for many cannabis investors. But there's a U.S. marijuana stock that's still running circles around Aurora: Curaleaf Holdings (OTC: CURLF). CURLF data by YCharts Aurora and Curaleaf started out 2020 with market caps of close to $3 billion, with Aurora a little under that level and Curaleaf a little over it. | Somewhat surprisingly, Aurora Cannabis (NYSE: ACB) seems to be the center of attention for many cannabis investors. Curaleaf continues to gain share in the fast-growing U.S. cannabis market. Aurora is losing share in the Canadian recreational marijuana market, where the company makes more than half its total revenue. |
37124.0 | 2020-11-12 00:00:00 UTC | Robinhood's Fatal Flaw Has Investors Missing Out on Some Serious Green | ACB | https://www.nasdaq.com/articles/robinhoods-fatal-flaw-has-investors-missing-out-on-some-serious-green-2020-11-12 | nan | nan | This has been a year that Wall Street and retail investors won't soon forget. Between the uncertainty tied to the coronavirus disease 2019 (COVID) pandemic and election concerns, equities have been whipsawed since late February. The iconic Dow Jones Industrial Average has logged 14 of its 16 biggest single-day point declines in history this year, as well as eight of its nine largest single-session gains.
For long-term investors, these wild vacillations in the stock market represent opportunities. Since every notable correction is eventually wiped away by a bull market rally, a volatile market is a great time to buy into high-quality companies.
Image source: Getty Images.
Short-term investors have flocked to online investing platform Robinhood
However, a highly volatile stock market also tends to attract short-term traders who have visions of getting rich quick. Online investing app Robinhood -- known for its commission-free platform, fractional-share investing, and gifts of free stock to new members -- has added millions of millennial and novice investors in 2020.
Young investors should take an interest in investing. Time is investors' greatest ally, and the younger people are when they begin putting their money to work in the market, the more leverage they'll have to build wealth.
Yet many Robinhood investors aren't thinking long term. The platform's leaderboard (i.e., the 100 most-held stocks) is filled with myriad penny stocks and otherwise awful businesses, hurting millennials' ability to grow their wealth.
This is far from the only problem you'll find in Robinhood's highly popular investing platform. The biggest issue just might be that members are only allowed to buy stocks listed on major U.S. exchanges, such as the New York Stock Exchange (NYSE) and Nasdaq.
Image source: Getty Images.
Robinhood's fatal flaw has investors missing out on the green rush
In some ways, not being able to invest in over-the-counter stocks is good. Publicly traded companies listed on the OTC exchange are often penny stocks, or have failed to provide regular financial statements for investor inspection. But not all OTC-listed stocks are avoidable.
U.S.-based marijuana stocks find themselves in a bit of a dilemma. They'd love to uplist from the less-followed and less liquid OTC exchange to the NYSE or Nasdaq. Unfortunately, they can't. Cannabis is classified as a Schedule I substance at the federal level, meaning the NYSE and Nasdaq won't allow companies that grow or sell marijuana to list on their exchanges.
Canadian marijuana stocks that don't sell cannabis in the U.S. are allowed to list their shares on the NYSE or Nasdaq, assuming they meet other listing standards.
The U.S. has a considerably larger and more lucrative marijuana market than Canada. Even without federal legalization, California alone is outselling all of Canada on an annual basis. Yet Robinhood investors are incredibly limited in their ability to buy individual pot stocks focused on the U.S. market. Instead, they only have poor-performing Canadian pot stocks to choose from on major U.S. exchanges.
Aurora Cannabis (NYSE: ACB), Canopy Growth, Aphria, HEXO, Tilray, and Cronos Group are all top-100 holdings on Robinhood. In fact, Aurora Cannabis was once the most-held stock on the entire platform.
But Aurora also exemplifies the poor quality of weed stocks available to Robinhood investors. The company has ballooned its outstanding share count by more than 11,800% in a little over six years. It also wrote down around $2.8 billion Canadian in fiscal 2020 after grossly overpaying for its acquisitions and overextending its capacity.
Canadian pot stocks aren't the best ways to take advantage of the fast-growing green rush, and that's really tied Robinhood users' hands.
Image source: Getty Images.
The smart way for Robinhood investors to buy into the cannabis craze
Thankfully, a recently launched exchange-traded fund (ETF) offers Robinhood investors a workaround for the platform's limitation.
Until recently, Robinhood investors who wanted U.S. marijuana exposure could really only buy into marijuana-adjacent opportunities, like cannabis-focused real estate investment trust Innovative Industrial Properties or Scotts Miracle-Gro.
But during the first week of September, the AdvisorShares Pure U.S. Cannabis ETF (NYSEMKT: MSOS) was born. This is the very first ETF focused solely on the U.S. marijuana market. Since it's listed on the NYSE Arca exchange, it's within the universe of securities that Robinhood investors can buy.
As of Nov. 4, the AdvisorShares Pure U.S. Cannabis ETF held 24 marijuana stocks in its portfolio, with the top five accounting for almost 46% of invested assets.
More than 55% of this ETF's invested assets are devoted to vertically integrated multistate operators (MSOs). These are companies like Green Thumb Industries (OTC: GTBIF) and Curaleaf Holdings (OTC: CURLF) that control the seed-to-sale process. They own cultivation and processing sites in select legalized states, and sell flower and derivative products in owned or leased dispensaries. Curaleaf, which holds more than 130 retail licenses in nearly two dozen states, seems on track to hit $1 billion in sales next year. Meanwhile, Green Thumb can hit $1 billion in annual sales by as soon as 2023.
Lack of access to OTC stocks has clearly put Robinhood investors at a disadvantage. The AdvisorShares Pure U.S. Cannabis ETF gives them an opportunity to buy into the higher-growth and higher-quality U.S. pot industry.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Sean Williams has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Green Thumb Industries, Innovative Industrial Properties, and Scotts Miracle-Gro. The Motley Fool recommends HEXO. and Nasdaq. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB), Canopy Growth, Aphria, HEXO, Tilray, and Cronos Group are all top-100 holdings on Robinhood. The iconic Dow Jones Industrial Average has logged 14 of its 16 biggest single-day point declines in history this year, as well as eight of its nine largest single-session gains. Cannabis is classified as a Schedule I substance at the federal level, meaning the NYSE and Nasdaq won't allow companies that grow or sell marijuana to list on their exchanges. | Aurora Cannabis (NYSE: ACB), Canopy Growth, Aphria, HEXO, Tilray, and Cronos Group are all top-100 holdings on Robinhood. Short-term investors have flocked to online investing platform Robinhood However, a highly volatile stock market also tends to attract short-term traders who have visions of getting rich quick. Cannabis is classified as a Schedule I substance at the federal level, meaning the NYSE and Nasdaq won't allow companies that grow or sell marijuana to list on their exchanges. | Aurora Cannabis (NYSE: ACB), Canopy Growth, Aphria, HEXO, Tilray, and Cronos Group are all top-100 holdings on Robinhood. The biggest issue just might be that members are only allowed to buy stocks listed on major U.S. exchanges, such as the New York Stock Exchange (NYSE) and Nasdaq. Canadian marijuana stocks that don't sell cannabis in the U.S. are allowed to list their shares on the NYSE or Nasdaq, assuming they meet other listing standards. | Aurora Cannabis (NYSE: ACB), Canopy Growth, Aphria, HEXO, Tilray, and Cronos Group are all top-100 holdings on Robinhood. Online investing app Robinhood -- known for its commission-free platform, fractional-share investing, and gifts of free stock to new members -- has added millions of millennial and novice investors in 2020. Canadian marijuana stocks that don't sell cannabis in the U.S. are allowed to list their shares on the NYSE or Nasdaq, assuming they meet other listing standards. |
37125.0 | 2020-11-11 00:00:00 UTC | Don’t Let Political Catalysts Cloud Your Judgment on Aurora Cannabis | ACB | https://www.nasdaq.com/articles/dont-let-political-catalysts-cloud-your-judgment-on-aurora-cannabis-2020-11-11 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Early to mid-November was been a great time to be invested in Aurora Cannabis (NYSE:ACB). After a spectacular upside move in ACB stock on Nov. 6, it looks like the share price was set to go even higher.
Source: Shutterstock
Some folks might think that ACB stock, and pot stocks generally, are surging because drugmakers Pfizer (NYSE:PFE) and Germany-based BioNTech SE (NASDAQ:BNTX) announced “success” in the first interim analysis from a Phase 3 study of their novel coronavirus vaccine candidate, BNT162b2.
That’s undoubtedly good news, but it’s not necessarily the main reason for the bullish sentiment surrounding marijuana stocks like ACB. After all, people haven’t typically been waiting for a Covid-19 vaccine in order to use cannabis products.
In actuality, the chief driver of ultra-bullish sentiment with ACB stock may have a political aspect. And the problem with politics is that it can be ugly, unpredictable and, in the final analysis, difficult to base investments on.
A Closer Look at ACB Stock
The market’s sentiment surrounding ABC stock was nothing short of euphoric on Nov. 6 as the share price rose more than 50% on that exciting day.
9 Gold Stocks to Buy as Uncertainty Clouds the Election
One might expect the market to cough up some of those gains on the following trading day. Yet, as it turns out, Nov. 9 was a continuation day, not a retracement day.
On the morning of Nov. 9, ACB stock added around 30% and was trading between $12 and $13 per share. Keep in mind, that’s in addition to the astounding gains already made on Nov. 6.
It just goes to show that the trend is, indeed, oftentimes your friend. As long as the trajectory is to the upside and the trading volume remains strong, it’s reasonably safe to expect the bulls to be in control of the price action with ACB stock.
So, from a technical perspective at least, the outlook appears to be quite bullish. Now, however, it’s appropriate to consider what catalyzed this extraordinary price movement in the first place.
Betting on Biden
No matter what side of the political fence you might happen to sit on, there’s one thing we can all agree on. It’s been a crazy, exhausting and heavily contested election.
The results will likely be disputed for a while, but for the time being, it appears that Joseph Biden will be the next president and Kamala Harris will be the next vice president of the United States.
This, more than the possibility of drugmakers discovering a primising Covid-19 vaccine, is probably what’s catalyzed the massive move in marijuana stocks generally and ACB stock in particular.
In other words, pot-stock traders are betting on Biden and Harris taking a permissive stance toward cannabis legislation. Without a doubt, they’re recalling the time when Harris declared that she is no advocate of “half-steppin’” when it comes to marijuana law reform.
Don’t Get Too Excited
One thing to bear in mind is that while Harris made pronouncements seemingly in favor of relaxed cannabis laws, Biden was not as vocal about this topic.
Will Harris be willing and able to convince Biden to pursue marijuana decriminalization? That’s not predictable, but it appears that the market has already priced in a victory in this regard.
ACB stock bulls would point out that five U.S. states (Arizona, Mississippi, Montana, New Jersey and South Dakota) recently voted in favor of some form of cannabis legalization. Consequently, the U.S. now has 15 states which have approved cannabis for adult use.
Nevertheless, cannabis remains a Schedule I drug on a federal level. Regardless of what the voters in the individual states decide, cannabis is still illegal to sell and consume in the U.S.
So, let’s not get overly excited about ACB stock just yet. I feel that it’s fine to take a small position, but I wouldn’t recommend loading the boat with ACB shares.
The Bottom Line
It’s tempting to make assumptions and think too far ahead as the trading community gets swept up in pro-cannabis mania.
Despite the widespread euphoria, caution and moderation will be the key to success with your position in ACB stock.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article.
David Moadel has provided compelling content – and crossed the occasional line – on behalf of Crush the Street, Market Realist, TalkMarkets, Finom Group, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.
The post Don’t Let Political Catalysts Cloud Your Judgment on Aurora Cannabis appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | As long as the trajectory is to the upside and the trading volume remains strong, it’s reasonably safe to expect the bulls to be in control of the price action with ACB stock. ACB stock bulls would point out that five U.S. states (Arizona, Mississippi, Montana, New Jersey and South Dakota) recently voted in favor of some form of cannabis legalization. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Early to mid-November was been a great time to be invested in Aurora Cannabis (NYSE:ACB). | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Early to mid-November was been a great time to be invested in Aurora Cannabis (NYSE:ACB). That’s undoubtedly good news, but it’s not necessarily the main reason for the bullish sentiment surrounding marijuana stocks like ACB. This, more than the possibility of drugmakers discovering a primising Covid-19 vaccine, is probably what’s catalyzed the massive move in marijuana stocks generally and ACB stock in particular. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Early to mid-November was been a great time to be invested in Aurora Cannabis (NYSE:ACB). A Closer Look at ACB Stock The market’s sentiment surrounding ABC stock was nothing short of euphoric on Nov. 6 as the share price rose more than 50% on that exciting day. This, more than the possibility of drugmakers discovering a primising Covid-19 vaccine, is probably what’s catalyzed the massive move in marijuana stocks generally and ACB stock in particular. | A Closer Look at ACB Stock The market’s sentiment surrounding ABC stock was nothing short of euphoric on Nov. 6 as the share price rose more than 50% on that exciting day. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Early to mid-November was been a great time to be invested in Aurora Cannabis (NYSE:ACB). After a spectacular upside move in ACB stock on Nov. 6, it looks like the share price was set to go even higher. |
37126.0 | 2020-11-11 00:00:00 UTC | 4 Top Stock Trades for Thursday: ACB, BA, ZM, PLUG | ACB | https://www.nasdaq.com/articles/4-top-stock-trades-for-thursday%3A-acb-ba-zm-plug-2020-11-11 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
It remains tricky trading on Wednesday, with shares popping higher but struggling to hold the highs. On the plus side, high-growth stocks bounced on the day. With all of that in mind, let’s look at a few top stock trades.
Top Stock Trades for Tomorrow No. 1: Aurora Cannabis (ACB)
Click to Enlarge
Source: Chart courtesy of StockCharts.com
Aurora Cannabis (NYSE:ACB) has been all over the map lately. Coming into the month it was near $4. But on Monday it almost hit $15.
On Wednesday, shares opened below $7, marking ACB stock down more than 50% from the week’s high. Today’s move is interesting, though.
Aurora is filling the gap from Monday, while also recouping its losses today to fill Wednesday’s massive gap. Now, let’s see if shares can now clear the 100-day moving average.
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If it can, it puts $10 and the 200-day moving average on the table. Above that, and the recent high at $14.48 is in play. On the downside, however, a break of Wednesday’s low and the 50-day moving average would be problematic.
Top Stock Trades for Tomorrow No. 2: Boeing (BA)
Click to Enlarge
Source: Chart courtesy of StockCharts.com
On Monday, Boeing (NYSE:BA) gapped out of its downward channel and over the 50-day and 100-day moving averages. The rally was rejected by the 200-day moving average, but Boeing reclaimed this level on Tuesday.
On Wednesday, it’s struggling to hold it as support.
Should BA stock lose $180, it opens it back up to a move lower. Specifically, it will put this week’s low on the table at $172.16. Below that, and a retest of the 100-day moving average and prior channel resistance could be in play.
On the upside, I want to see Boeing close above the 200-day moving average and take out this week’s high at $193.95. If it can do that, $200-plus is possible.
Top Stock Trades for Tomorrow No. 3: Zoom Video (ZM)
Click to Enlarge
Source: Chart courtesy of StockCharts.com
Zoom Video (NASDAQ:ZM) has been all over the place lately. The moves it’s had into support have proved to be excellent short-term buying opportunities.
Still, question marks exist. Most recently, the 100-day moving average provided a bounce. If it’s retested and fails this level, investors have to be aware of the looming gap down near $325.
Filling this gap could lead to an excellent buying opportunity if ZM stock finds its footing.
On the upside, see if ZM can hold $400. If it can, $450 is a critical level, along with the 50-day moving average. The latter had been strong support before failing this week with Zoom’s big gap down on Monday.
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If Zoom rallies to the 50-day moving average and if it acts as resistance, we could be seeing a change in tune with this stock. Stay open minded.
Top Stock Trades for Tomorrow No. 4: Plug Power (PLUG)
Click to Enlarge
Source: Chart courtesy of StockCharts.com
Plug Power (NASDAQ:PLUG) has been enjoying lockstep gains. The pattern has been simple thus far: Break out over resistance, find prior resistance as support.
You’ll notice that pattern has been in play since June. Most recently, PLUG stock broke out over $19. Now it’s pushing through the 161.8% extension.
Shares could now rally to $24.35, the two-times range extension. However, we don’t know where resistance will come into play yet. On the upside, keep that two-times range level in mind.
On the downside, though, I’m a buyer at former resistance near $19. Below that, and the 50-day moving average is in play.
On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in any of the securities mentioned in this article.
Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.
The post 4 Top Stock Trades for Thursday: ACB, BA, ZM, PLUG appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The post 4 Top Stock Trades for Thursday: ACB, BA, ZM, PLUG appeared first on InvestorPlace. 1: Aurora Cannabis (ACB) Click to Enlarge Source: Chart courtesy of StockCharts.com Aurora Cannabis (NYSE:ACB) has been all over the map lately. | Click to Enlarge Source: Chart courtesy of StockCharts.com Aurora Cannabis (NYSE:ACB) has been all over the map lately. 1: Aurora Cannabis (ACB) On Wednesday, shares opened below $7, marking ACB stock down more than 50% from the week’s high. | 1: Aurora Cannabis (ACB) Click to Enlarge Source: Chart courtesy of StockCharts.com Aurora Cannabis (NYSE:ACB) has been all over the map lately. On Wednesday, shares opened below $7, marking ACB stock down more than 50% from the week’s high. | On Wednesday, shares opened below $7, marking ACB stock down more than 50% from the week’s high. The post 4 Top Stock Trades for Thursday: ACB, BA, ZM, PLUG appeared first on InvestorPlace. 1: Aurora Cannabis (ACB) |
37127.0 | 2020-11-11 00:00:00 UTC | CANADA STOCKS - TSX rises 0.9% to 16,765.46 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.9-to-16765.46-2020-11-11 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.90 percent to 16,765.46
* Leading the index were Great Canadian Gaming Corp , up 34.7%, Linamar Corp LNR.TO, up 15.9%, and Boyd Group Services Inc BYD.TO, higher by 8%.
* Lagging shares were Aurora Cannabis Inc ACB.TO, down 5.5%, New Gold Inc NGD.TO, down 4.4%, and Torex Gold Resources Inc TXG.TO, lower by 4.1%.
* On the TSX 148 issues rose and 72 fell as a 2.1-to-1 ratio favored advancers. There were 6 new highs and no new lows, with total volume of 198.7 million shares.
* The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Enbridge Inc ENB.TO.
* The TSX's energy group .SPTTEN rose 0.56 points, or 0.7%, while the financials sector .SPTTFS climbed 1.32 points, or 0.5%.
* West Texas Intermediate crude futures CLc1 rose 0.51%, or $0.21, to $41.57 a barrel. Brent crude LCOc1 rose 0.66%, or $0.29, to $43.9 O/R
* The TSX is off 1.7% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Enbridge Inc ENB.TO. * Lagging shares were Aurora Cannabis Inc ACB.TO, down 5.5%, New Gold Inc NGD.TO, down 4.4%, and Torex Gold Resources Inc TXG.TO, lower by 4.1%. * The Toronto Stock Exchange's TSX rises 0.90 percent to 16,765.46 * Leading the index were Great Canadian Gaming Corp , up 34.7%, Linamar Corp LNR.TO, up 15.9%, and Boyd Group Services Inc BYD.TO, higher by 8%. | * Lagging shares were Aurora Cannabis Inc ACB.TO, down 5.5%, New Gold Inc NGD.TO, down 4.4%, and Torex Gold Resources Inc TXG.TO, lower by 4.1%. * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Enbridge Inc ENB.TO. * The TSX's energy group .SPTTEN rose 0.56 points, or 0.7%, while the financials sector .SPTTFS climbed 1.32 points, or 0.5%. | * Lagging shares were Aurora Cannabis Inc ACB.TO, down 5.5%, New Gold Inc NGD.TO, down 4.4%, and Torex Gold Resources Inc TXG.TO, lower by 4.1%. * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Enbridge Inc ENB.TO. * The Toronto Stock Exchange's TSX rises 0.90 percent to 16,765.46 * Leading the index were Great Canadian Gaming Corp , up 34.7%, Linamar Corp LNR.TO, up 15.9%, and Boyd Group Services Inc BYD.TO, higher by 8%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Enbridge Inc ENB.TO. * Lagging shares were Aurora Cannabis Inc ACB.TO, down 5.5%, New Gold Inc NGD.TO, down 4.4%, and Torex Gold Resources Inc TXG.TO, lower by 4.1%. * The Toronto Stock Exchange's TSX rises 0.90 percent to 16,765.46 * Leading the index were Great Canadian Gaming Corp , up 34.7%, Linamar Corp LNR.TO, up 15.9%, and Boyd Group Services Inc BYD.TO, higher by 8%. |
37128.0 | 2020-11-11 00:00:00 UTC | Canopy Growth Stock Is a Leader in a Budding Industry | ACB | https://www.nasdaq.com/articles/canopy-growth-stock-is-a-leader-in-a-budding-industry-2020-11-11 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Cannabis stocks rallied fiercely in 2018 when they were all the rage. The imagination of the applications they had took investors in all different directions. Stocks like Canopy Growth (NYSE:CGC), Tilray (NASDAQ:TLRY) and Aurora Cannabis (NYSE:ACB) were superstars back then. Unfortunately they all fell off a cliff and out of the media limelight. Recently, however, they’ve made a comeback thanks to the apparent Joe Biden win in the U.S. elections. In case you forgot how volatile traders are with pot stocks, consider this. ACB fell 26% on Tuesday and another 16% after hours. Meanwhile, CGC stock only fell 3.5%, so among mad tickers it’s the sane one.
Source: Shutterstock
Canopy Growth is still the best of the bunch and deserves our attention today.
Investors who want to invest in pot stocks must consider this one among all others. Wall Street blessed it as the one with the most potential and the least risk. Management has billions it got from Constellation Brands (NASDAQ:STZ) to help it execute on plans. Recently they all rallied incredibly fast on the prospects of a favorable political setting.
The Fundamentals Are not a Problem for Canopy Growth
While the fundamentals are good, investors often get timing in CGC stock trades wrong. These are momentum stocks so they are tricky to trade. If you believe in it for the long haul then own it through thick and thin. Else, trade around the edges.
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Today’s note is bearish but only as a cautionary tale. My opinion is not against the company fundamentals but rather the trade timing. I believe in the viability of cannabis as an investment thesis. In fact my last write-up about CGC stock in August was bullish. Back then I thought that it had upside potential, but I expected a small dip, and that’s exactly what happened.
I am not one to chase runaway rallies, and the cannabis stocks just finished a ridiculous one. They need to consolidate a bit.
Technically CGC stock ran into levels that were accident scenes more than a year old. More often than not, sellers show up in force there — at least at the first go around. It is best to fade and let them retest for better footing. Then the bulls can gather enough momentum to take the resistance out.
I don’t condone shorting the stock, I merely want to temper the enthusiasm after a long run.
CGC Stock Bulls Are Making Great Progress
Source: Charts by TradingView
I recognize that momentum trading is a viable strategy, but not if investors come into it too late. CGC stock rallied almost 100% off of the October low, and this would rarely make for a good starting point. Fast profits make for weak hands, and it’s best to shake a few of them out to resume higher. This was my opinion last Friday, and after the Monday market-wide drunken rally, I was convinced of it.
Canopy Growth stock almost hit $27 per share, which is higher than I expected. I thought that the January high would hold for a bit longer. Consequently I wrote a short gallery about fading the cannabis rally. It is never my intention to wish losses on stock fans, but the article was prophetic.
Nevertheless this marks big progress for CGC stock bulls. Poking prior resistance and fading from it is constructive price action. Now they can find footing to reestablish the base below so they can head back higher. The goal is to set higher-low trends to recover old glory.
Cannabis stocks now have much better fundamentals than they had the first time they were popular. However it is important to recognize that they are still bound by federal laws. Their business is still technically illegal in the United States, but therein lies the opportunity. If indeed a Democratic presidency is going to be more favorable to them, that deregulation headline would be huge. Therefore under the threat of such news it would be a bad idea to short these stocks with conviction. They’ve done so well against so many headwinds. I salute these intrepid companies that continue to surprise us.
Stick With the Best
There are more exciting names to trade than Canopy, but CGC stock would be my pick. Throwing a blanket on the whole sector by using ETFMG Alternative Harvest ETF (NYSEARCA:MJ) is also viable, but I would rather avoid unknowns from other companies. The whole sector is still speculative, so size matters, Taking large positions leaves investors open to a lot of uncertainty.
Don’t forget that two days ago, markets made new all-time highs. That alone leaves room for downside pressure from general corrections.
We are resetting another round of earnings in cannabis stocks, so there should be lull. It will be long before the benefit of a new president impacts the bottom line. But Wall Street loves to price the potential immediately. Hopefully it won’t be a sell-the-news event going into 2021. In short, I would rather wait for a correction before buying CGC stock.
On the date of publication, Nicolas Chahine did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nicolas Chahine is the managing director of SellSpreads.com.
The post Canopy Growth Stock Is a Leader in a Budding Industry appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks like Canopy Growth (NYSE:CGC), Tilray (NASDAQ:TLRY) and Aurora Cannabis (NYSE:ACB) were superstars back then. ACB fell 26% on Tuesday and another 16% after hours. CGC Stock Bulls Are Making Great Progress Source: Charts by TradingView I recognize that momentum trading is a viable strategy, but not if investors come into it too late. | Stocks like Canopy Growth (NYSE:CGC), Tilray (NASDAQ:TLRY) and Aurora Cannabis (NYSE:ACB) were superstars back then. ACB fell 26% on Tuesday and another 16% after hours. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Cannabis stocks rallied fiercely in 2018 when they were all the rage. | Stocks like Canopy Growth (NYSE:CGC), Tilray (NASDAQ:TLRY) and Aurora Cannabis (NYSE:ACB) were superstars back then. ACB fell 26% on Tuesday and another 16% after hours. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Cannabis stocks rallied fiercely in 2018 when they were all the rage. | Stocks like Canopy Growth (NYSE:CGC), Tilray (NASDAQ:TLRY) and Aurora Cannabis (NYSE:ACB) were superstars back then. ACB fell 26% on Tuesday and another 16% after hours. The Fundamentals Are not a Problem for Canopy Growth While the fundamentals are good, investors often get timing in CGC stock trades wrong. |
37129.0 | 2020-11-11 00:00:00 UTC | You've Probably Never Heard of the Stock Market's Biggest Winner Wednesday | ACB | https://www.nasdaq.com/articles/youve-probably-never-heard-of-the-stock-markets-biggest-winner-wednesday-2020-11-11 | nan | nan | The stock market was generally higher on Wednesday, with light trading activity due to the Veterans Day holiday. Market participants continued to have high hopes for a recovery from the worst of the coronavirus crisis, despite the fact that COVID-19 case counts continued at elevated levels throughout the U.S. and in many parts of the world.
Tech stocks rebounded overall, giving that segment a much-needed lift after a considerable downdraft in recent days. Just before 11:30 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 68 points to 29,489. The S&P 500 (SNPINDEX: ^GSPC) rose 26 points to 3,571, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 178 points to 11,732.
There's a stock that few people had ever heard of before today that became the big winner on Wednesday morning. At the same time, though, there's another company that made a move it's done countless times before, and investors aren't happy about it happening yet again. Below, you'll learn about both of those stocks and what their prospects look like down the road.
Image source: Getty Images.
A prime stock
The big winner on the day was Five Prime Therapeutics (NASDAQ: FPRX). The biotech stock soared more than 250% as of late Wednesday morning, having been up as much as 350% earlier in the session.
Five Prime is a biotech company that currently has a candidate treatment that it hopes will help in the fight against stomach cancer. The drug, called bemarituzumab, produced solid test results in a phase 2 clinical trial. Specifically, researchers were looking to see if the treatment would improve progression-free survival among stomach-cancer patients, as well as median overall survival and overall response rate. Bemarituzumab produced statistically significant improvements in all three endpoints.
Five Prime was obviously happy about the positive results, noting that its strategy in targeting what's known as the fibroblast growth factor receptor 2 has promise in fighting other forms of cancer, as well. The company has found that the receptor is overexpressed in many other types of cancer, including certain forms of lung, breast, ovarian, and pancreatic cancer.
Five Prime partner Zai Lab (NASDAQ: ZLAB) also saw solid gains, but its much larger size limited its stock-price rise to 14%. Nevertheless, the news is good for both companies, and it'll be interesting to see what comes next for bemarituzumab and Five Prime's fight against cancer.
Aurora Cannabis is going to pot -- again
Meanwhile, shares of Aurora Cannabis (NYSE: ACB) pulled violently back from their recent gains, falling more than 20%. The downdraft for the pot stock came as the company resorted to a strategy that it's used several times before, each time hurting shareholders.
Aurora decided to take advantage of the recent rise in its stock price to raise more capital through a secondary offering. After announcing the offering late Tuesday, Aurora said it had successfully priced 20 million units at $7.50.
It's bad enough that the stock had closed at $8.30 per share Tuesday afternoon. What's worse is that the units Aurora sold aren't just shares. Each unit contains a share plus one-half of a warrant to purchase additional Aurora stock at $9 per share, with investors getting until March 2024 to decide whether to exercise their warrants.
Aurora has been ruthless in diluting shareholders with repeated offerings. Despite some signs that marijuana stocks might be turning the corner, Aurora's unit sale once again reminded shareholders that it might not be the best play on pot in the market today.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis is going to pot -- again Meanwhile, shares of Aurora Cannabis (NYSE: ACB) pulled violently back from their recent gains, falling more than 20%. Five Prime was obviously happy about the positive results, noting that its strategy in targeting what's known as the fibroblast growth factor receptor 2 has promise in fighting other forms of cancer, as well. Five Prime partner Zai Lab (NASDAQ: ZLAB) also saw solid gains, but its much larger size limited its stock-price rise to 14%. | Aurora Cannabis is going to pot -- again Meanwhile, shares of Aurora Cannabis (NYSE: ACB) pulled violently back from their recent gains, falling more than 20%. A prime stock The big winner on the day was Five Prime Therapeutics (NASDAQ: FPRX). The drug, called bemarituzumab, produced solid test results in a phase 2 clinical trial. | Aurora Cannabis is going to pot -- again Meanwhile, shares of Aurora Cannabis (NYSE: ACB) pulled violently back from their recent gains, falling more than 20%. A prime stock The big winner on the day was Five Prime Therapeutics (NASDAQ: FPRX). 10 stocks we like better than Five Prime Therapeutics When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | Aurora Cannabis is going to pot -- again Meanwhile, shares of Aurora Cannabis (NYSE: ACB) pulled violently back from their recent gains, falling more than 20%. A prime stock The big winner on the day was Five Prime Therapeutics (NASDAQ: FPRX). What's worse is that the units Aurora sold aren't just shares. |
37130.0 | 2020-11-11 00:00:00 UTC | Why Aurora Cannabis, HEXO, and Tilray Stocks Just Crashed | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-hexo-and-tilray-stocks-just-crashed-2020-11-11 | nan | nan | What happened
Wednesday arrived with a rush of news for investors in the cannabis industry -- little of it good. In rapid succession, marijuana producer Aurora Cannabis (NYSE: ACB) first saw its price target raised, then announced a big issuance and sale of stock, and then got its price target cut (along with its stock rating). Soon after, rival cannabis company Tilray (NASDAQ: TLRY) was also downgraded. And, as bad news continued to flood the industry, tiny HEXO (NYSE: HEXO) found it impossible to fight the tide.
Result: As of 10 a.m. EST, all three stocks are down significantly -- Hexo shares by 4.4%, Tilray by 9.6%, and Aurora Cannabis worst of all -- a staggering 20.1% loss.
Image source: Getty Images.
So what
Most of today's news concerns Aurora Cannabis, so let's begin with that one -- and we'll begin on a happy note. Aurora Cannabis stock got pummeled (along with most marijuana stocks) yesterday after reporting disappointing sales and a big net loss. On Wall Street, however, analysts were in a forgiving mood, and at least two big investment banks, Canaccord Genuity and CIBC Capital Markets, took the opportunity to raise their price targets on the stock (to CA$11 and CA$15, respectively).
That, as I say, is the good news. The bad news is that no sooner had these analysts put their reputations on the line defending Aurora than the company announced it will sell about 16.7 million new shares at $7.50 apiece in an effort to raise $125 million in new cash. Then this morning, Aurora upped the size of that stock offering to 20 million shares to raise $150 million instead.
Analysts at Stifel Nicolaus promptly responded by downgrading Aurora Cannabis stock to a sell, albeit with an improved price target of CA$6.50 to account for the stock's recent run-up. Stifel explained, in a note covered on TheFly.com, that Aurora appears to be suffering from increased competition in Canada and that its need for cash (Aurora burnt through $93 million last quarter) is becoming more urgent, which is why the analyst is not optimistic about the stock.
Stifel next turned its guns upon Tilray, which like Aurora suffered a sales shortfall in its most recent earnings report -- and, also like Aurora, lost money and burned cash. Stifel now thinks this one is also a sell, cutting its price target on Tilray to $4.75 and again citing cash burn as a primary concern.
Now what
What about HEXO? The good news here is that no one seems to have downgraded it (not today, at least). But the bad news is that the company is hardly out of the woods, nor is it immune from the pessimism infecting the larger cannabis players.
Last quarter's earnings news was simply awful, with HEXO losing $0.38 per share instead of the projected $0.03. Indeed, over the past year, HEXO has racked up losses of $420 million -- more than the company's own market capitalization. Free cash flow for the period stands at negative $152 million, and if that continues, then investors have to assume that cash will soon be as much of a concern for HEXO as it already is for Aurora Cannabis and Tilray.
So what's the upshot for investors? They've already lost 60% of their investment in shares of Tilray and HEXO, and 80% in Aurora, over the past year -- but things could still get worse. It's bad news all around for marijuana stocks, and I'm not at all convinced that even marijuana legalization can save investors from their losses.
10 stocks we like better than Aurora Cannabis Inc.
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David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Aurora Cannabis Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In rapid succession, marijuana producer Aurora Cannabis (NYSE: ACB) first saw its price target raised, then announced a big issuance and sale of stock, and then got its price target cut (along with its stock rating). Result: As of 10 a.m. EST, all three stocks are down significantly -- Hexo shares by 4.4%, Tilray by 9.6%, and Aurora Cannabis worst of all -- a staggering 20.1% loss. Stifel now thinks this one is also a sell, cutting its price target on Tilray to $4.75 and again citing cash burn as a primary concern. | In rapid succession, marijuana producer Aurora Cannabis (NYSE: ACB) first saw its price target raised, then announced a big issuance and sale of stock, and then got its price target cut (along with its stock rating). And, as bad news continued to flood the industry, tiny HEXO (NYSE: HEXO) found it impossible to fight the tide. So what Most of today's news concerns Aurora Cannabis, so let's begin with that one -- and we'll begin on a happy note. | In rapid succession, marijuana producer Aurora Cannabis (NYSE: ACB) first saw its price target raised, then announced a big issuance and sale of stock, and then got its price target cut (along with its stock rating). Aurora Cannabis stock got pummeled (along with most marijuana stocks) yesterday after reporting disappointing sales and a big net loss. Analysts at Stifel Nicolaus promptly responded by downgrading Aurora Cannabis stock to a sell, albeit with an improved price target of CA$6.50 to account for the stock's recent run-up. | In rapid succession, marijuana producer Aurora Cannabis (NYSE: ACB) first saw its price target raised, then announced a big issuance and sale of stock, and then got its price target cut (along with its stock rating). Now what What about HEXO? Free cash flow for the period stands at negative $152 million, and if that continues, then investors have to assume that cash will soon be as much of a concern for HEXO as it already is for Aurora Cannabis and Tilray. |
37131.0 | 2020-11-11 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Pinduoduo, Fuel Tech, Tencent Music | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-pinduoduo-fuel-tech-tencent-music-2020-11-11 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
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U.S. stock index futures jumped on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound even as some states braced for new business restrictions to combat surging infections. .N
At 7:03 ET, Dow e-minis 1YMc1 were up 0.75% at 29,540. S&P 500 e-minis ESc1 were up 0.83% at 3,570.5, while Nasdaq 100 e-minis NQc1 were up 0.98% at 11,731.75. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Fubotv Inc Ord FUBO.N, up 30.9% ** Orix Corp IX.N, up 9.2% ** VirnetX Holding VHC.N, up 9.2% The top three NYSE percentage losers premarket .PRPL.NQ: ** Aurora Cannabis ACB.N, down 16.6% ** Revlon Inc REV.N, down 10.1% ** Model N Inc MODN.N, down 10% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Five Prime Therapeutics Inc FPRX.O, up 295.9% ** Fuel Tech Inc FTEK.O, up 56.4% ** Performant Financial Corp PFMT.O, up 43.3% The top three Nasdaq percentage losers premarket .PRPL.O: ** Pareteum Corp TEUM.O, down 0% ** China Index Holdings Ltd CIH.O, down 32.9% ** eGain Corp EGAN.O, down 23.6% ** JD.Com JD.O: down 0.6% premarket
** Pinduoduo Inc PDD.O: down 2.1% premarket
BUZZ-U.S.-listed Chinese e-commerce firms fall on likely sharper scrutiny
** Fuel Tech FTEK.O: up 56.4% premarket BUZZ-Surges as co swings to quarterly profit
** Tencent Music TME.N: up 4.1% premarket BUZZ-Rises on strong Q3
** Five Prime FPRX.O: up 295.9% premarket BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT
** Pareteum Corp TEUM.O: down 52.1% premarket BUZZ-Plunges on Nasdaq delisting notice
(Compiled by Shreyasee Raj in Bengaluru)
((Shreyasee.Raj@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Fubotv Inc Ord FUBO.N, up 30.9% ** Orix Corp IX.N, up 9.2% ** VirnetX Holding VHC.N, up 9.2% The top three NYSE percentage losers premarket .PRPL.NQ: ** Aurora Cannabis ACB.N, down 16.6% ** Revlon Inc REV.N, down 10.1% ** Model N Inc MODN.N, down 10% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Five Prime Therapeutics Inc FPRX.O, up 295.9% ** Fuel Tech Inc FTEK.O, up 56.4% ** Performant Financial Corp PFMT.O, up 43.3% The top three Nasdaq percentage losers premarket .PRPL.O: ** Pareteum Corp TEUM.O, down 0% ** China Index Holdings Ltd CIH.O, down 32.9% ** eGain Corp EGAN.O, down 23.6% ** JD.Com JD.O: down 0.6% premarket ** Pinduoduo Inc PDD.O: down 2.1% premarket BUZZ-U.S.-listed Chinese e-commerce firms fall on likely sharper scrutiny ** Fuel Tech FTEK.O: up 56.4% premarket BUZZ-Surges as co swings to quarterly profit ** Tencent Music TME.N: up 4.1% premarket BUZZ-Rises on strong Q3 ** Five Prime FPRX.O: up 295.9% premarket BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT ** Pareteum Corp TEUM.O: down 52.1% premarket BUZZ-Plunges on Nasdaq delisting notice (Compiled by Shreyasee Raj in Bengaluru) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures jumped on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound even as some states braced for new business restrictions to combat surging infections. .N At 7:03 ET, Dow e-minis 1YMc1 were up 0.75% at 29,540. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Fubotv Inc Ord FUBO.N, up 30.9% ** Orix Corp IX.N, up 9.2% ** VirnetX Holding VHC.N, up 9.2% The top three NYSE percentage losers premarket .PRPL.NQ: ** Aurora Cannabis ACB.N, down 16.6% ** Revlon Inc REV.N, down 10.1% ** Model N Inc MODN.N, down 10% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Five Prime Therapeutics Inc FPRX.O, up 295.9% ** Fuel Tech Inc FTEK.O, up 56.4% ** Performant Financial Corp PFMT.O, up 43.3% The top three Nasdaq percentage losers premarket .PRPL.O: ** Pareteum Corp TEUM.O, down 0% ** China Index Holdings Ltd CIH.O, down 32.9% ** eGain Corp EGAN.O, down 23.6% ** JD.Com JD.O: down 0.6% premarket ** Pinduoduo Inc PDD.O: down 2.1% premarket BUZZ-U.S.-listed Chinese e-commerce firms fall on likely sharper scrutiny ** Fuel Tech FTEK.O: up 56.4% premarket BUZZ-Surges as co swings to quarterly profit ** Tencent Music TME.N: up 4.1% premarket BUZZ-Rises on strong Q3 ** Five Prime FPRX.O: up 295.9% premarket BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT ** Pareteum Corp TEUM.O: down 52.1% premarket BUZZ-Plunges on Nasdaq delisting notice (Compiled by Shreyasee Raj in Bengaluru) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures jumped on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound even as some states braced for new business restrictions to combat surging infections. S&P 500 e-minis ESc1 were up 0.83% at 3,570.5, while Nasdaq 100 e-minis NQc1 were up 0.98% at 11,731.75. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Fubotv Inc Ord FUBO.N, up 30.9% ** Orix Corp IX.N, up 9.2% ** VirnetX Holding VHC.N, up 9.2% The top three NYSE percentage losers premarket .PRPL.NQ: ** Aurora Cannabis ACB.N, down 16.6% ** Revlon Inc REV.N, down 10.1% ** Model N Inc MODN.N, down 10% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Five Prime Therapeutics Inc FPRX.O, up 295.9% ** Fuel Tech Inc FTEK.O, up 56.4% ** Performant Financial Corp PFMT.O, up 43.3% The top three Nasdaq percentage losers premarket .PRPL.O: ** Pareteum Corp TEUM.O, down 0% ** China Index Holdings Ltd CIH.O, down 32.9% ** eGain Corp EGAN.O, down 23.6% ** JD.Com JD.O: down 0.6% premarket ** Pinduoduo Inc PDD.O: down 2.1% premarket BUZZ-U.S.-listed Chinese e-commerce firms fall on likely sharper scrutiny ** Fuel Tech FTEK.O: up 56.4% premarket BUZZ-Surges as co swings to quarterly profit ** Tencent Music TME.N: up 4.1% premarket BUZZ-Rises on strong Q3 ** Five Prime FPRX.O: up 295.9% premarket BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT ** Pareteum Corp TEUM.O: down 52.1% premarket BUZZ-Plunges on Nasdaq delisting notice (Compiled by Shreyasee Raj in Bengaluru) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures jumped on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound even as some states braced for new business restrictions to combat surging infections. S&P 500 e-minis ESc1 were up 0.83% at 3,570.5, while Nasdaq 100 e-minis NQc1 were up 0.98% at 11,731.75. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Fubotv Inc Ord FUBO.N, up 30.9% ** Orix Corp IX.N, up 9.2% ** VirnetX Holding VHC.N, up 9.2% The top three NYSE percentage losers premarket .PRPL.NQ: ** Aurora Cannabis ACB.N, down 16.6% ** Revlon Inc REV.N, down 10.1% ** Model N Inc MODN.N, down 10% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Five Prime Therapeutics Inc FPRX.O, up 295.9% ** Fuel Tech Inc FTEK.O, up 56.4% ** Performant Financial Corp PFMT.O, up 43.3% The top three Nasdaq percentage losers premarket .PRPL.O: ** Pareteum Corp TEUM.O, down 0% ** China Index Holdings Ltd CIH.O, down 32.9% ** eGain Corp EGAN.O, down 23.6% ** JD.Com JD.O: down 0.6% premarket ** Pinduoduo Inc PDD.O: down 2.1% premarket BUZZ-U.S.-listed Chinese e-commerce firms fall on likely sharper scrutiny ** Fuel Tech FTEK.O: up 56.4% premarket BUZZ-Surges as co swings to quarterly profit ** Tencent Music TME.N: up 4.1% premarket BUZZ-Rises on strong Q3 ** Five Prime FPRX.O: up 295.9% premarket BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT ** Pareteum Corp TEUM.O: down 52.1% premarket BUZZ-Plunges on Nasdaq delisting notice (Compiled by Shreyasee Raj in Bengaluru) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures jumped on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound even as some states braced for new business restrictions to combat surging infections. .N At 7:03 ET, Dow e-minis 1YMc1 were up 0.75% at 29,540. |
37132.0 | 2020-11-11 00:00:00 UTC | CANADA STOCKS-TSX gains on energy boost; Great Canadian Gaming surges on buyout deal | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-gains-on-energy-boost-great-canadian-gaming-surges-on-buyout-deal-2020 | nan | nan | Nov 11 (Reuters) - Canada's main stock index rose on Wednesday, boosted by energy stocks, as hopes of a working COVID-19 vaccine and a $1.66 billion buyout deal for Great Canadian Gaming lifted sentiment.
* Great Canadian Gaming Corp GC.TO surged 34.9% after the company said Apollo Global Management APO.N would acquire the firm for about C$2.16 billion ($1.66 billion).
* Pfizer Inc PFE.N said on Monday its COVID-19 vaccine candidate, developed with BioNTech BNTX.O, showed a 90% success rate in preventing infection during trials.
* The energy sector .SPTTEN climbed 2% as crude prices jumped about 3% also supported by an industry report showing U.S. crude inventories fell more than expected. O/R
* At 9:40 a.m. ET (1440 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 106.54 points, or 0.64%, at 16,721.91.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.6% as gold futures GCc1 fell 1% to $1,857.3 an ounce. GOL/
* Linamar Corp LNR.TO rose 11.5% and was among the top percentage gainers after multiple brokerages turned bullish on auto parts maker's stock.
* On the TSX, 155 issues were higher, while 62 issues declined for a 2.50-to-1 ratio favouring gainers, with 18.63 million shares traded.
* Aurora Cannabis Inc ACB.TO fell 18.1%, the most on the TSX, after brokerage Stifel downgraded the pot producer's stock to "sell" from "hold".
* The most heavily traded shares by volume were Aurora Cannabis, Bombardier Inc BBDb.TO, and B2gold Corp BTO.TO.
* The TSX posted three new 52-week highs and no new low.
* Across all Canadian issues there were 17 new 52-week highs and one new low, with total volume of 33.59 million shares.
(Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Aurora Cannabis Inc ACB.TO fell 18.1%, the most on the TSX, after brokerage Stifel downgraded the pot producer's stock to "sell" from "hold". * Pfizer Inc PFE.N said on Monday its COVID-19 vaccine candidate, developed with BioNTech BNTX.O, showed a 90% success rate in preventing infection during trials. * The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.6% as gold futures GCc1 fell 1% to $1,857.3 an ounce. | * Aurora Cannabis Inc ACB.TO fell 18.1%, the most on the TSX, after brokerage Stifel downgraded the pot producer's stock to "sell" from "hold". * The energy sector .SPTTEN climbed 2% as crude prices jumped about 3% also supported by an industry report showing U.S. crude inventories fell more than expected. * On the TSX, 155 issues were higher, while 62 issues declined for a 2.50-to-1 ratio favouring gainers, with 18.63 million shares traded. | * Aurora Cannabis Inc ACB.TO fell 18.1%, the most on the TSX, after brokerage Stifel downgraded the pot producer's stock to "sell" from "hold". Nov 11 (Reuters) - Canada's main stock index rose on Wednesday, boosted by energy stocks, as hopes of a working COVID-19 vaccine and a $1.66 billion buyout deal for Great Canadian Gaming lifted sentiment. * On the TSX, 155 issues were higher, while 62 issues declined for a 2.50-to-1 ratio favouring gainers, with 18.63 million shares traded. | * Aurora Cannabis Inc ACB.TO fell 18.1%, the most on the TSX, after brokerage Stifel downgraded the pot producer's stock to "sell" from "hold". Nov 11 (Reuters) - Canada's main stock index rose on Wednesday, boosted by energy stocks, as hopes of a working COVID-19 vaccine and a $1.66 billion buyout deal for Great Canadian Gaming lifted sentiment. * The most heavily traded shares by volume were Aurora Cannabis, Bombardier Inc BBDb.TO, and B2gold Corp BTO.TO. |
37133.0 | 2020-11-11 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Apple, Lyft, Alibaba, D.R. Horton, Norwegian Cruise Line | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-apple-lyft-alibaba-d.r.-horton-norwegian-cruise-line-2020-11 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes were set to open higher on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound, with technology stocks bouncing back from steep losses this week. .N
At 9:02 ET, Dow e-minis 1YMc1 were up 0.58% at 29,489. S&P 500 e-minis ESc1 were up 0.70% at 3,565.75, while Nasdaq 100 e-minis NQc1 were up 0.97% at 11,730.5. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Fubotv Inc FUBO.N, up 27.2% ** Universal Health UHT.N, up 11.9% ** APi Group Corp APG.N, up 10.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Aurora Cannabis ACB.N, down 19.9% ** Model N Inc MODN.N, down 12.8% ** AMC Entertainment AMC.N, down 9.4% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Five Prime Therapeutics Inc FPRX.O, up 284.8% ** DarioHealth DRIOW.O, up 50.4% ** Fuel Tech Inc FTEK.O, up 49.8% The top three Nasdaq percentage losers premarket .PRPL.O: ** Pareteum Corp TEUM.O, down 46.1% ** eGain Corp EGAN.O, down 23% ** Summer Infant Inc SUMR.O, down 22.8% ** Apple AAPL.O: up 1.2% premarket BUZZ-Set to snap 3-day losing streak
** Lyft Inc LYFT.O: up 4.4% premarket BUZZ-Street View: Lyft raises hopes for post-pandemic profitability
** Alibaba BABA.N: down 1.3% premarket
** JD.Com JD.O: down 0.6% premarket
** Pinduoduo Inc PDD.O: down 0.6% premarket
BUZZ-U.S.-listed Chinese e-commerce firms fall on likely sharper scrutiny
** D.R. Horton DHI.N: up 1.9% premarket BUZZ-Rises as brokerages raise PTs on strong results
** Norwegian Cruise Line NCLH.N: up 0.7% premarket BUZZ-Up as brokers raise PT on vaccine optimism
** Fuel Tech FTEK.O: up 49.8% premarket BUZZ-Surges as co swings to quarterly profit
** Tencent Music TME.N: up 5.2% premarket BUZZ-Rises on strong Q3
** HUYA Inc HUYA.N: up 2.7% premarket BUZZ-Rises on Q3 profit beat
** Five Prime FPRX.O: up 284.8% premarket BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT
** Pareteum Corp TEUM.O: down 46.1% premarket BUZZ-Plunges on Nasdaq delisting notice
** Teladoc TDOC.N: up 4.3% premarket BUZZ-Gains on upbeat revenue forecast
** Tapestry TPR.N: up 4.8% premarket BUZZ-Up as Cowen raises to 'outperform' on growth potential
** Co-Diagnostics CODX.O: up 6.3% premarket BUZZ-Rises as co says its tech works as COVID-19 test
** Arbor Realty Trust ABR.N: down 4.5% premarket BUZZ-Drops after pricing stock offering
** Performant Financial Corp PFMT.O: up 15.5% premarket BUZZ-Gains on strong Q3 earnings
** Palo Alto Networks PANW.N: up 1.4% premarket BUZZ-Palo Alto Networks to buy cybersecurity peer Expanse in $800 mln deal
** eGain EGAN.O: down 23.0% premarket BUZZ-Plunges on downbeat second-quarter forecast
** XPEL Inc XPEL.O: up 6.1% premarket BUZZ-Rises as Q3 earnings, revenue beat
** Immuron IMRN.O: up 19.6% premarket BUZZ-Surges after U.S. DoD confirms diarrhea vaccine produces immune response
** Inventiva IVA.O: up 7.0% premarket BUZZ-Rises as FDA agrees one late-stage trial enough for NASH drug
** Surface Oncology SURF.O: up 3.1% premarket BUZZ-Jumps after cancer drug gets FDA 'fast track' status
** Yelp YELP.N: up 2.1% premarket BUZZ-Yelp rises as Evercore upgrades on post-vaccine recovery hopes
** Organogenesis ORGO.O: down 7.8% premarket BUZZ-Organogenesis slumps on planned stock offering
** Howmet Aerospace HWM.N: up 4.0% premarket BUZZ-Rises as Cowen analysts see better days ahead
(Compiled by Shreyasee Raj in Bengaluru)
((Shreyasee.Raj@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Fubotv Inc FUBO.N, up 27.2% ** Universal Health UHT.N, up 11.9% ** APi Group Corp APG.N, up 10.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Aurora Cannabis ACB.N, down 19.9% ** Model N Inc MODN.N, down 12.8% ** AMC Entertainment AMC.N, down 9.4% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Five Prime Therapeutics Inc FPRX.O, up 284.8% ** DarioHealth DRIOW.O, up 50.4% ** Fuel Tech Inc FTEK.O, up 49.8% The top three Nasdaq percentage losers premarket .PRPL.O: ** Pareteum Corp TEUM.O, down 46.1% ** eGain Corp EGAN.O, down 23% ** Summer Infant Inc SUMR.O, down 22.8% ** Apple AAPL.O: up 1.2% premarket BUZZ-Set to snap 3-day losing streak ** Lyft Inc LYFT.O: up 4.4% premarket BUZZ-Street View: Lyft raises hopes for post-pandemic profitability ** Alibaba BABA.N: down 1.3% premarket ** JD.Com JD.O: down 0.6% premarket ** Pinduoduo Inc PDD.O: down 0.6% premarket BUZZ-U.S.-listed Chinese e-commerce firms fall on likely sharper scrutiny ** D.R. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to open higher on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound, with technology stocks bouncing back from steep losses this week. Horton DHI.N: up 1.9% premarket BUZZ-Rises as brokerages raise PTs on strong results ** Norwegian Cruise Line NCLH.N: up 0.7% premarket BUZZ-Up as brokers raise PT on vaccine optimism ** Fuel Tech FTEK.O: up 49.8% premarket BUZZ-Surges as co swings to quarterly profit ** Tencent Music TME.N: up 5.2% premarket BUZZ-Rises on strong Q3 ** HUYA Inc HUYA.N: up 2.7% premarket BUZZ-Rises on Q3 profit beat ** Five Prime FPRX.O: up 284.8% premarket BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT ** Pareteum Corp TEUM.O: down 46.1% premarket BUZZ-Plunges on Nasdaq delisting notice ** Teladoc TDOC.N: up 4.3% premarket BUZZ-Gains on upbeat revenue forecast ** Tapestry TPR.N: up 4.8% premarket BUZZ-Up as Cowen raises to 'outperform' on growth potential ** Co-Diagnostics CODX.O: up 6.3% premarket BUZZ-Rises as co says its tech works as COVID-19 test ** Arbor Realty Trust ABR.N: down 4.5% premarket BUZZ-Drops after pricing stock offering ** Performant Financial Corp PFMT.O: up 15.5% premarket BUZZ-Gains on strong Q3 earnings ** Palo Alto Networks PANW.N: up 1.4% premarket BUZZ-Palo Alto Networks to buy cybersecurity peer Expanse in $800 mln deal ** eGain EGAN.O: down 23.0% premarket BUZZ-Plunges on downbeat second-quarter forecast ** XPEL Inc XPEL.O: up 6.1% premarket BUZZ-Rises as Q3 earnings, revenue beat ** Immuron IMRN.O: up 19.6% premarket BUZZ-Surges after U.S. DoD confirms diarrhea vaccine produces immune response ** Inventiva IVA.O: up 7.0% premarket BUZZ-Rises as FDA agrees one late-stage trial enough for NASH drug ** Surface Oncology SURF.O: up 3.1% premarket BUZZ-Jumps after cancer drug gets FDA 'fast track' status ** Yelp YELP.N: up 2.1% premarket BUZZ-Yelp rises as Evercore upgrades on post-vaccine recovery hopes ** Organogenesis ORGO.O: down 7.8% premarket BUZZ-Organogenesis slumps on planned stock offering ** Howmet Aerospace HWM.N: up 4.0% premarket BUZZ-Rises as Cowen analysts see better days ahead (Compiled by Shreyasee Raj in Bengaluru) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Fubotv Inc FUBO.N, up 27.2% ** Universal Health UHT.N, up 11.9% ** APi Group Corp APG.N, up 10.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Aurora Cannabis ACB.N, down 19.9% ** Model N Inc MODN.N, down 12.8% ** AMC Entertainment AMC.N, down 9.4% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Five Prime Therapeutics Inc FPRX.O, up 284.8% ** DarioHealth DRIOW.O, up 50.4% ** Fuel Tech Inc FTEK.O, up 49.8% The top three Nasdaq percentage losers premarket .PRPL.O: ** Pareteum Corp TEUM.O, down 46.1% ** eGain Corp EGAN.O, down 23% ** Summer Infant Inc SUMR.O, down 22.8% ** Apple AAPL.O: up 1.2% premarket BUZZ-Set to snap 3-day losing streak ** Lyft Inc LYFT.O: up 4.4% premarket BUZZ-Street View: Lyft raises hopes for post-pandemic profitability ** Alibaba BABA.N: down 1.3% premarket ** JD.Com JD.O: down 0.6% premarket ** Pinduoduo Inc PDD.O: down 0.6% premarket BUZZ-U.S.-listed Chinese e-commerce firms fall on likely sharper scrutiny ** D.R. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to open higher on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound, with technology stocks bouncing back from steep losses this week. Horton DHI.N: up 1.9% premarket BUZZ-Rises as brokerages raise PTs on strong results ** Norwegian Cruise Line NCLH.N: up 0.7% premarket BUZZ-Up as brokers raise PT on vaccine optimism ** Fuel Tech FTEK.O: up 49.8% premarket BUZZ-Surges as co swings to quarterly profit ** Tencent Music TME.N: up 5.2% premarket BUZZ-Rises on strong Q3 ** HUYA Inc HUYA.N: up 2.7% premarket BUZZ-Rises on Q3 profit beat ** Five Prime FPRX.O: up 284.8% premarket BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT ** Pareteum Corp TEUM.O: down 46.1% premarket BUZZ-Plunges on Nasdaq delisting notice ** Teladoc TDOC.N: up 4.3% premarket BUZZ-Gains on upbeat revenue forecast ** Tapestry TPR.N: up 4.8% premarket BUZZ-Up as Cowen raises to 'outperform' on growth potential ** Co-Diagnostics CODX.O: up 6.3% premarket BUZZ-Rises as co says its tech works as COVID-19 test ** Arbor Realty Trust ABR.N: down 4.5% premarket BUZZ-Drops after pricing stock offering ** Performant Financial Corp PFMT.O: up 15.5% premarket BUZZ-Gains on strong Q3 earnings ** Palo Alto Networks PANW.N: up 1.4% premarket BUZZ-Palo Alto Networks to buy cybersecurity peer Expanse in $800 mln deal ** eGain EGAN.O: down 23.0% premarket BUZZ-Plunges on downbeat second-quarter forecast ** XPEL Inc XPEL.O: up 6.1% premarket BUZZ-Rises as Q3 earnings, revenue beat ** Immuron IMRN.O: up 19.6% premarket BUZZ-Surges after U.S. DoD confirms diarrhea vaccine produces immune response ** Inventiva IVA.O: up 7.0% premarket BUZZ-Rises as FDA agrees one late-stage trial enough for NASH drug ** Surface Oncology SURF.O: up 3.1% premarket BUZZ-Jumps after cancer drug gets FDA 'fast track' status ** Yelp YELP.N: up 2.1% premarket BUZZ-Yelp rises as Evercore upgrades on post-vaccine recovery hopes ** Organogenesis ORGO.O: down 7.8% premarket BUZZ-Organogenesis slumps on planned stock offering ** Howmet Aerospace HWM.N: up 4.0% premarket BUZZ-Rises as Cowen analysts see better days ahead (Compiled by Shreyasee Raj in Bengaluru) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Fubotv Inc FUBO.N, up 27.2% ** Universal Health UHT.N, up 11.9% ** APi Group Corp APG.N, up 10.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Aurora Cannabis ACB.N, down 19.9% ** Model N Inc MODN.N, down 12.8% ** AMC Entertainment AMC.N, down 9.4% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Five Prime Therapeutics Inc FPRX.O, up 284.8% ** DarioHealth DRIOW.O, up 50.4% ** Fuel Tech Inc FTEK.O, up 49.8% The top three Nasdaq percentage losers premarket .PRPL.O: ** Pareteum Corp TEUM.O, down 46.1% ** eGain Corp EGAN.O, down 23% ** Summer Infant Inc SUMR.O, down 22.8% ** Apple AAPL.O: up 1.2% premarket BUZZ-Set to snap 3-day losing streak ** Lyft Inc LYFT.O: up 4.4% premarket BUZZ-Street View: Lyft raises hopes for post-pandemic profitability ** Alibaba BABA.N: down 1.3% premarket ** JD.Com JD.O: down 0.6% premarket ** Pinduoduo Inc PDD.O: down 0.6% premarket BUZZ-U.S.-listed Chinese e-commerce firms fall on likely sharper scrutiny ** D.R. S&P 500 e-minis ESc1 were up 0.70% at 3,565.75, while Nasdaq 100 e-minis NQc1 were up 0.97% at 11,730.5. Horton DHI.N: up 1.9% premarket BUZZ-Rises as brokerages raise PTs on strong results ** Norwegian Cruise Line NCLH.N: up 0.7% premarket BUZZ-Up as brokers raise PT on vaccine optimism ** Fuel Tech FTEK.O: up 49.8% premarket BUZZ-Surges as co swings to quarterly profit ** Tencent Music TME.N: up 5.2% premarket BUZZ-Rises on strong Q3 ** HUYA Inc HUYA.N: up 2.7% premarket BUZZ-Rises on Q3 profit beat ** Five Prime FPRX.O: up 284.8% premarket BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT ** Pareteum Corp TEUM.O: down 46.1% premarket BUZZ-Plunges on Nasdaq delisting notice ** Teladoc TDOC.N: up 4.3% premarket BUZZ-Gains on upbeat revenue forecast ** Tapestry TPR.N: up 4.8% premarket BUZZ-Up as Cowen raises to 'outperform' on growth potential ** Co-Diagnostics CODX.O: up 6.3% premarket BUZZ-Rises as co says its tech works as COVID-19 test ** Arbor Realty Trust ABR.N: down 4.5% premarket BUZZ-Drops after pricing stock offering ** Performant Financial Corp PFMT.O: up 15.5% premarket BUZZ-Gains on strong Q3 earnings ** Palo Alto Networks PANW.N: up 1.4% premarket BUZZ-Palo Alto Networks to buy cybersecurity peer Expanse in $800 mln deal ** eGain EGAN.O: down 23.0% premarket BUZZ-Plunges on downbeat second-quarter forecast ** XPEL Inc XPEL.O: up 6.1% premarket BUZZ-Rises as Q3 earnings, revenue beat ** Immuron IMRN.O: up 19.6% premarket BUZZ-Surges after U.S. DoD confirms diarrhea vaccine produces immune response ** Inventiva IVA.O: up 7.0% premarket BUZZ-Rises as FDA agrees one late-stage trial enough for NASH drug ** Surface Oncology SURF.O: up 3.1% premarket BUZZ-Jumps after cancer drug gets FDA 'fast track' status ** Yelp YELP.N: up 2.1% premarket BUZZ-Yelp rises as Evercore upgrades on post-vaccine recovery hopes ** Organogenesis ORGO.O: down 7.8% premarket BUZZ-Organogenesis slumps on planned stock offering ** Howmet Aerospace HWM.N: up 4.0% premarket BUZZ-Rises as Cowen analysts see better days ahead (Compiled by Shreyasee Raj in Bengaluru) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Fubotv Inc FUBO.N, up 27.2% ** Universal Health UHT.N, up 11.9% ** APi Group Corp APG.N, up 10.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Aurora Cannabis ACB.N, down 19.9% ** Model N Inc MODN.N, down 12.8% ** AMC Entertainment AMC.N, down 9.4% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Five Prime Therapeutics Inc FPRX.O, up 284.8% ** DarioHealth DRIOW.O, up 50.4% ** Fuel Tech Inc FTEK.O, up 49.8% The top three Nasdaq percentage losers premarket .PRPL.O: ** Pareteum Corp TEUM.O, down 46.1% ** eGain Corp EGAN.O, down 23% ** Summer Infant Inc SUMR.O, down 22.8% ** Apple AAPL.O: up 1.2% premarket BUZZ-Set to snap 3-day losing streak ** Lyft Inc LYFT.O: up 4.4% premarket BUZZ-Street View: Lyft raises hopes for post-pandemic profitability ** Alibaba BABA.N: down 1.3% premarket ** JD.Com JD.O: down 0.6% premarket ** Pinduoduo Inc PDD.O: down 0.6% premarket BUZZ-U.S.-listed Chinese e-commerce firms fall on likely sharper scrutiny ** D.R. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to open higher on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound, with technology stocks bouncing back from steep losses this week. .N At 9:02 ET, Dow e-minis 1YMc1 were up 0.58% at 29,489. |
37134.0 | 2020-11-11 00:00:00 UTC | The Blunt Truth About Marijuana Under Biden | ACB | https://www.nasdaq.com/articles/the-blunt-truth-about-marijuana-under-biden-2020-11-11 | nan | nan | This has been a big month for marijuana stocks. It began on election night, with the U.S. producing a green sweep. Five states had cannabis initiatives or amendments on their ballots for vote, and every single weed measure passed. Since California paved the way in 1996 as the first state to legalize medical marijuana, we've now witnessed 35 additional states follow suit. Of these 36 legalized medical weed states, 15 also allow recreational consumption and/or sale.
Although it took a couple of extra days, we also witnessed Democratic Party challenger Joe Biden win the presidential race. This is noteworthy considering that Democrats have a much more favorable view of cannabis than Republicans -- and it has the investment community excited.
President-Elect Joe Biden listening to former President Barack Obama. Image source: Official White House Photo by Pete Souza.
Canadian pot stocks soar following U.S. election results
Interestingly enough, it wasn't U.S. pot stocks that staged the biggest rally following the U.S. election. Rather, it was Canadian licensed producers (LPs) that've been blazing hot. In the three-day stretch following election night, here are some of the returns for Canada's best-known producers:
Aurora Cannabis (NYSE: ACB): up 99%
Canopy Growth: up 15%
Tilray: up 45%
HEXO (NYSE: HEXO): up 40%
OrganiGram Holdings: up 23%
Cronos Group: up 24%
These gains imply there's growing hope that the Biden administration will lead to the federal legalization of marijuana in the United States. Canadian LPs like Canopy Growth have pledged not to enter the U.S. until the federal government changes its stance on cannabis. Additionally, these companies would risk losing their U.S. listing status by engaging in the cannabis industry while it's still federally illegal.
As some of you might recall, Vice President-Elect Kamala Harris was among a growing number of Democratic presidential candidates during the primary process who voiced clear support for federal marijuana legalization. Investors might be of the opinion that the incoming Vice President can sway policy toward legalization.
And, when in doubt, there's always public opinion. In 2018 and 2019, national pollster Gallup found record-tying support (66% of survey-takers) for the nationwide legalization of pot.
Image source: Getty Images.
The blunt truth about cannabis under the Biden administration
But what if I told you this hope was nothing more than an investor pipe dream?
President-Elect Joe Biden has been vocal about his past views on marijuana, but has stopped short of calling for legalization on numerous occasions. Instead, Biden would prefer to decriminalize weed in the U.S. and reschedule it. Currently, it's classified as a Schedule I substance, meaning it has no recognized medical benefits and is wholly illicit. Biden's proposal would move marijuana one rung lower on the controlled substances ladder (Schedule II). It would have recognized medical benefits at this classification, but also be considered prone to abuse.
This might sound like a "fix," but it's not.
For starters, Schedule I and II substances are subject to Section 280E of the tax code. Implemented in 1982, 280E disallows businesses that sell federally illicit substances from taking normal corporate tax deductions, save for cost of goods sold. As a result, profitable businesses that sell Schedule I and II substances often pay very high effective tax rates.
The potentially scarier problem for the cannabis industry is that Schedule II substances would fall under the critical eye of the U.S. Food and Drug Administration (FDA). The FDA would have the ability to control how pot businesses market and label their products, and is likely to oversee the manufacturing process for cannabis.
More specifically, the FDA could also require that clinical trials be run to validate claims that marijuana helps with specific ailments. This would throw a gigantic monkey wrench into the medical cannabis industry and could actually hamper progress.
Image source: Getty Images.
A divided Congress would create cannabis gridlock
But wait -- there's more.
Aside from Biden's cannabis proposal almost certainly failing to make things better for the U.S. cannabis industry, there's a strong likelihood that the president-elect will be working with a split Congress. Democrats will maintain a small majority in the House of Representatives, while a January runoff for two Senate seats in Georgia will determine the political make-up of the Senate. Republicans only need to win one of those two remaining seats to maintain control off the upper house of Congress.
The reason this is important is because Senate Majority Leader Mitch McConnell (R-Ky.) has a long track record of blocking cannabis reform measures and ensuring they don't make it to the Senate floor for vote. Assuming the GOP retains control of the Senate and McConnell reprises his role as Senate Majority Leader, there'll be almost no opportunity to legalize pot at the federal level or even pass cannabis banking reform.
In other words, the hoopla among Canadian pot stocks makes little sense. While it's true that the Joe Biden has a modestly more favorable stance on weed than sitting President Donald Trump, there's still not a path to legalization, and therefore no clear path for Canadian LPs to enter the United States.
This should serve as a clear warning to investors who've been blindly piling into names like Aurora Cannabis and HEXO in the past couple of days. Aurora Cannabis has been diluting its shareholders to raise capital for years, whereas HEXO is facing a 1-for-8 reverse stock split next month just to avoid being delisted from the New York Stock Exchange.
There's no question the U.S. is going to be the most lucrative marijuana market in the world. But if you want to invest in pot stocks, stick with companies already based in the United States. They may not be listed on a major U.S. exchange, but they're far better suited for long-term success.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Sean Williams has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends OrganiGram Holdings. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the three-day stretch following election night, here are some of the returns for Canada's best-known producers: Aurora Cannabis (NYSE: ACB): up 99% Canopy Growth: up 15% Tilray: up 45% HEXO (NYSE: HEXO): up 40% OrganiGram Holdings: up 23% Cronos Group: up 24% These gains imply there's growing hope that the Biden administration will lead to the federal legalization of marijuana in the United States. As some of you might recall, Vice President-Elect Kamala Harris was among a growing number of Democratic presidential candidates during the primary process who voiced clear support for federal marijuana legalization. Implemented in 1982, 280E disallows businesses that sell federally illicit substances from taking normal corporate tax deductions, save for cost of goods sold. | In the three-day stretch following election night, here are some of the returns for Canada's best-known producers: Aurora Cannabis (NYSE: ACB): up 99% Canopy Growth: up 15% Tilray: up 45% HEXO (NYSE: HEXO): up 40% OrganiGram Holdings: up 23% Cronos Group: up 24% These gains imply there's growing hope that the Biden administration will lead to the federal legalization of marijuana in the United States. Since California paved the way in 1996 as the first state to legalize medical marijuana, we've now witnessed 35 additional states follow suit. While it's true that the Joe Biden has a modestly more favorable stance on weed than sitting President Donald Trump, there's still not a path to legalization, and therefore no clear path for Canadian LPs to enter the United States. | In the three-day stretch following election night, here are some of the returns for Canada's best-known producers: Aurora Cannabis (NYSE: ACB): up 99% Canopy Growth: up 15% Tilray: up 45% HEXO (NYSE: HEXO): up 40% OrganiGram Holdings: up 23% Cronos Group: up 24% These gains imply there's growing hope that the Biden administration will lead to the federal legalization of marijuana in the United States. Assuming the GOP retains control of the Senate and McConnell reprises his role as Senate Majority Leader, there'll be almost no opportunity to legalize pot at the federal level or even pass cannabis banking reform. Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. | In the three-day stretch following election night, here are some of the returns for Canada's best-known producers: Aurora Cannabis (NYSE: ACB): up 99% Canopy Growth: up 15% Tilray: up 45% HEXO (NYSE: HEXO): up 40% OrganiGram Holdings: up 23% Cronos Group: up 24% These gains imply there's growing hope that the Biden administration will lead to the federal legalization of marijuana in the United States. Investors might be of the opinion that the incoming Vice President can sway policy toward legalization. Here's The Marijuana Stock You've Been Waiting For A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. |
37135.0 | 2020-11-11 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Goldman Sachs, Apple, Lyft, eGain, Pacific Biosciences | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-goldman-sachs-apple-lyft-egain-pacific-biosciences-2020-11-11 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes advanced on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound, with technology stocks bouncing back from steep losses this week. .N
At 12:09 ET, the Dow Jones Industrial Average .DJI was up 0.32% at 29,513.7. The S&P 500 .SPX was up 0.94% at 3,578.69 and the Nasdaq Composite .IXIC was up 1.93% at 11,776.278. The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc , up 7.8% ** Qualcomm Inc , up 5.5% ** Bio Rad Laboratories , up 5.5% The top three S&P 500 .PL.INX percentage losers: ** Air Products & Chemicals , down 7.6% ** Dentsply Sirona , down 5.5% ** Henry Schein , down 5.3% The top three NYSE .PG.N percentage gainers: ** Revlon Inc , up 26.4% ** Fubotv Inc Ord , up 16.2% ** Fiverr International , up 15.7% The top three NYSE .PL.N percentage losers: ** Aurora Cannabis , down 21.2% ** Ashford Hospitality , down 17.6% ** Titan International , down 14.6% The top three Nasdaq .PG.O percentage gainers: ** Five Prime Therapeutics , up 256.6% ** CM Life Sciences , up 59.4% ** Equillium Inc , up 46.8% The top three Nasdaq .PL.O percentage losers: ** EGain Corporatio , down 29.6% ** Greenland Technologies , down 17% ** Summit Wireless Technologies , down 16.1% ** Goldman Sachs GS.N: up 0.7%
** Morgan Stanley RIC: up 1.1%
** Wells Fargo WFC.N: up 0.2%
** Citigroup C.N: up 1.7%
BUZZ-U.S. banks track markets higher on economic rebound hopes
** Apple AAPL.O: up 2.5%
BUZZ-Set to snap 3-day losing streak
** Lyft Inc LYFT.O: up 3.3%
BUZZ-Street View: Lyft raises hopes for post-pandemic profitability
** D.R. Horton DHI.N: up 2.0%
BUZZ-Rises as brokerages raise PTs on strong results
** Fuel Tech FTEK.O: up 82.7%
BUZZ-Surges as co swings to quarterly profit
** HUYA Inc HUYA.N: up 4.9%
BUZZ-Rises on Q3 profit beat
** Five Prime FPRX.O: up 256.6%
BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT
** Pareteum Corp TEUM.O: down 42.6%
BUZZ-Plunges on Nasdaq delisting notice
** Teladoc TDOC.N: up 4.9%
BUZZ-Gains on upbeat revenue forecast
** Co-Diagnostics CODX.O: up 8.8%
BUZZ-Rises as co says its tech works as COVID-19 test
** Arbor Realty Trust ABR.N: down 5.4%
BUZZ-Drops after pricing stock offering
** Palo Alto Networks PANW.N: up 2.5%
BUZZ-Palo Alto Networks to buy cybersecurity peer Expanse in $800 mln deal
** eGain EGAN.O: down 29.6%
BUZZ-Plunges on downbeat second-quarter forecast
** Immuron IMRN.O: up 28.6%
BUZZ-Surges after U.S. DoD confirms diarrhea vaccine produces immune response
** Inventiva IVA.O: up 5.9%
BUZZ-Rises as FDA agrees one late-stage trial enough for NASH drug
** Yelp YELP.N: up 3.2%
BUZZ-Rises as Evercore upgrades on post-vaccine recovery hopes
** Organogenesis ORGO.O: down 9.4%
BUZZ-Organogenesis slumps on planned stock offering
** Summer Infant SUMR.O: down 13.6%
BUZZ-Falls on lower Q3 revenue, disappointing Q4 outlook
** Purple Innovation PRPL.O: up 2.5%
BUZZ-Rises as higher direct-selling powers Q3 beat
** Sonim Technologies Inc SONM.O: down 9.8%
BUZZ-Falls after Q3 revenue halves, misses estimates
** KKR & Co KKR.N: down 3.5%
BUZZ-Down after Morgan Stanley prices block
** Performance Shipping PSHG.O: up 27.9%
BUZZ-Performance Shipping to buy tanker vessel, shares soar
** Sorrento SRNE.O: up 10.9%
BUZZ-Rises on application to start COVID-19 treatment clinical trial
** Aurora Cannabis ACB.N: down 21.2%
BUZZ-Dives after upsized public offering, downgrade
** AngloGold Ashanti AU.N: down 1.2%
** Gold Fields GFI.N: down 3.4%
** Newmont Corp NEM.N: down 1.4%
BUZZ-Gold miners: Fall as bullion slips on stronger dollar, equities
** S&W Seed SANW.O: up 5.2%
BUZZ-Rises as Q3 revenue tops estimates
** Addus HomeCare ADUS.O: up 1.2%
BUZZ-Gains; co to acquire Queen City Hospice
** FuboTV FUBO.N: up 16.2%
BUZZ-Surges on higher rev outlook, rise in paid subscribers
** Revlon RIC: up 26.4%
BUZZ-Rises on new bondholder participation in debt restructuring
** Pacific Biosciences PACB.O: up 14.9%
BUZZ-Soars after equity raise
** Esperion ESPR.O: down 6.2%
BUZZ-Down on $200 mln convertible debt offering
** ClearPoint Neuro CLPT.O: up 16.0%
BUZZ-Gains on strong Q3 revenue, FY outlook
** Hexcel HXL.N: up 2.7%
BUZZ-Jumps after report says Belgium's Solvay interested in takeover
** MasterCraft Boat MCFT.O: up 6.4%
BUZZ-Raises outlook following profit beat; shares jump
** Dolby Laboratories DLB.N: up 0.5%
BUZZ-Dolby Laboratories up as JPM raises PT on strong Q4 hopes
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.60%
Consumer Discretionary
.SPLRCD
up 1.68%
Consumer Staples
.SPLRCS
up 1.06%
Energy
.SPNY
down 0.85%
Financial
.SPSY
down 0.34%
Health
.SPXHC
up 0.23%
Industrial
.SPLRCI
down 0.63%
Information Technology
.SPLRCT
up 2.47%
Materials
.SPLRCM
down 1.26%
Real Estate
.SPLRCR
up 1.04%
Utilities
.SPLRCU
up 0.91%
(Compiled by Shreyasee Raj)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Horton DHI.N: up 2.0% BUZZ-Rises as brokerages raise PTs on strong results ** Fuel Tech FTEK.O: up 82.7% BUZZ-Surges as co swings to quarterly profit ** HUYA Inc HUYA.N: up 4.9% BUZZ-Rises on Q3 profit beat ** Five Prime FPRX.O: up 256.6% BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT ** Pareteum Corp TEUM.O: down 42.6% BUZZ-Plunges on Nasdaq delisting notice ** Teladoc TDOC.N: up 4.9% BUZZ-Gains on upbeat revenue forecast ** Co-Diagnostics CODX.O: up 8.8% BUZZ-Rises as co says its tech works as COVID-19 test ** Arbor Realty Trust ABR.N: down 5.4% BUZZ-Drops after pricing stock offering ** Palo Alto Networks PANW.N: up 2.5% BUZZ-Palo Alto Networks to buy cybersecurity peer Expanse in $800 mln deal ** eGain EGAN.O: down 29.6% BUZZ-Plunges on downbeat second-quarter forecast ** Immuron IMRN.O: up 28.6% BUZZ-Surges after U.S. DoD confirms diarrhea vaccine produces immune response ** Inventiva IVA.O: up 5.9% BUZZ-Rises as FDA agrees one late-stage trial enough for NASH drug ** Yelp YELP.N: up 3.2% BUZZ-Rises as Evercore upgrades on post-vaccine recovery hopes ** Organogenesis ORGO.O: down 9.4% BUZZ-Organogenesis slumps on planned stock offering ** Summer Infant SUMR.O: down 13.6% BUZZ-Falls on lower Q3 revenue, disappointing Q4 outlook ** Purple Innovation PRPL.O: up 2.5% BUZZ-Rises as higher direct-selling powers Q3 beat ** Sonim Technologies Inc SONM.O: down 9.8% BUZZ-Falls after Q3 revenue halves, misses estimates ** KKR & Co KKR.N: down 3.5% BUZZ-Down after Morgan Stanley prices block ** Performance Shipping PSHG.O: up 27.9% BUZZ-Performance Shipping to buy tanker vessel, shares soar ** Sorrento SRNE.O: up 10.9% BUZZ-Rises on application to start COVID-19 treatment clinical trial ** Aurora Cannabis ACB.N: down 21.2% BUZZ-Dives after upsized public offering, downgrade ** AngloGold Ashanti AU.N: down 1.2% ** Gold Fields GFI.N: down 3.4% ** Newmont Corp NEM.N: down 1.4% BUZZ-Gold miners: Fall as bullion slips on stronger dollar, equities ** S&W Seed SANW.O: up 5.2% BUZZ-Rises as Q3 revenue tops estimates ** Addus HomeCare ADUS.O: up 1.2% BUZZ-Gains; co to acquire Queen City Hospice ** FuboTV FUBO.N: up 16.2% BUZZ-Surges on higher rev outlook, rise in paid subscribers ** Revlon RIC: up 26.4% BUZZ-Rises on new bondholder participation in debt restructuring ** Pacific Biosciences PACB.O: up 14.9% BUZZ-Soars after equity raise ** Esperion ESPR.O: down 6.2% BUZZ-Down on $200 mln convertible debt offering ** ClearPoint Neuro CLPT.O: up 16.0% BUZZ-Gains on strong Q3 revenue, FY outlook ** Hexcel HXL.N: up 2.7% BUZZ-Jumps after report says Belgium's Solvay interested in takeover ** MasterCraft Boat MCFT.O: up 6.4% BUZZ-Raises outlook following profit beat; shares jump ** Dolby Laboratories DLB.N: up 0.5% BUZZ-Dolby Laboratories up as JPM raises PT on strong Q4 hopes The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes advanced on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound, with technology stocks bouncing back from steep losses this week. The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc , up 7.8% ** Qualcomm Inc , up 5.5% ** Bio Rad Laboratories , up 5.5% The top three S&P 500 .PL.INX percentage losers: ** Air Products & Chemicals , down 7.6% ** Dentsply Sirona , down 5.5% ** Henry Schein , down 5.3% The top three NYSE .PG.N percentage gainers: ** Revlon Inc , up 26.4% ** Fubotv Inc Ord , up 16.2% ** Fiverr International , up 15.7% The top three NYSE .PL.N percentage losers: ** Aurora Cannabis , down 21.2% ** Ashford Hospitality , down 17.6% ** Titan International , down 14.6% The top three Nasdaq .PG.O percentage gainers: ** Five Prime Therapeutics , up 256.6% ** CM Life Sciences , up 59.4% ** Equillium Inc , up 46.8% The top three Nasdaq .PL.O percentage losers: ** EGain Corporatio , down 29.6% ** Greenland Technologies , down 17% ** Summit Wireless Technologies , down 16.1% ** Goldman Sachs GS.N: up 0.7% ** Morgan Stanley RIC: up 1.1% ** Wells Fargo WFC.N: up 0.2% ** Citigroup C.N: up 1.7% BUZZ-U.S. banks track markets higher on economic rebound hopes ** Apple AAPL.O: up 2.5% BUZZ-Set to snap 3-day losing streak ** Lyft Inc LYFT.O: up 3.3% BUZZ-Street View: Lyft raises hopes for post-pandemic profitability ** D.R. | Horton DHI.N: up 2.0% BUZZ-Rises as brokerages raise PTs on strong results ** Fuel Tech FTEK.O: up 82.7% BUZZ-Surges as co swings to quarterly profit ** HUYA Inc HUYA.N: up 4.9% BUZZ-Rises on Q3 profit beat ** Five Prime FPRX.O: up 256.6% BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT ** Pareteum Corp TEUM.O: down 42.6% BUZZ-Plunges on Nasdaq delisting notice ** Teladoc TDOC.N: up 4.9% BUZZ-Gains on upbeat revenue forecast ** Co-Diagnostics CODX.O: up 8.8% BUZZ-Rises as co says its tech works as COVID-19 test ** Arbor Realty Trust ABR.N: down 5.4% BUZZ-Drops after pricing stock offering ** Palo Alto Networks PANW.N: up 2.5% BUZZ-Palo Alto Networks to buy cybersecurity peer Expanse in $800 mln deal ** eGain EGAN.O: down 29.6% BUZZ-Plunges on downbeat second-quarter forecast ** Immuron IMRN.O: up 28.6% BUZZ-Surges after U.S. DoD confirms diarrhea vaccine produces immune response ** Inventiva IVA.O: up 5.9% BUZZ-Rises as FDA agrees one late-stage trial enough for NASH drug ** Yelp YELP.N: up 3.2% BUZZ-Rises as Evercore upgrades on post-vaccine recovery hopes ** Organogenesis ORGO.O: down 9.4% BUZZ-Organogenesis slumps on planned stock offering ** Summer Infant SUMR.O: down 13.6% BUZZ-Falls on lower Q3 revenue, disappointing Q4 outlook ** Purple Innovation PRPL.O: up 2.5% BUZZ-Rises as higher direct-selling powers Q3 beat ** Sonim Technologies Inc SONM.O: down 9.8% BUZZ-Falls after Q3 revenue halves, misses estimates ** KKR & Co KKR.N: down 3.5% BUZZ-Down after Morgan Stanley prices block ** Performance Shipping PSHG.O: up 27.9% BUZZ-Performance Shipping to buy tanker vessel, shares soar ** Sorrento SRNE.O: up 10.9% BUZZ-Rises on application to start COVID-19 treatment clinical trial ** Aurora Cannabis ACB.N: down 21.2% BUZZ-Dives after upsized public offering, downgrade ** AngloGold Ashanti AU.N: down 1.2% ** Gold Fields GFI.N: down 3.4% ** Newmont Corp NEM.N: down 1.4% BUZZ-Gold miners: Fall as bullion slips on stronger dollar, equities ** S&W Seed SANW.O: up 5.2% BUZZ-Rises as Q3 revenue tops estimates ** Addus HomeCare ADUS.O: up 1.2% BUZZ-Gains; co to acquire Queen City Hospice ** FuboTV FUBO.N: up 16.2% BUZZ-Surges on higher rev outlook, rise in paid subscribers ** Revlon RIC: up 26.4% BUZZ-Rises on new bondholder participation in debt restructuring ** Pacific Biosciences PACB.O: up 14.9% BUZZ-Soars after equity raise ** Esperion ESPR.O: down 6.2% BUZZ-Down on $200 mln convertible debt offering ** ClearPoint Neuro CLPT.O: up 16.0% BUZZ-Gains on strong Q3 revenue, FY outlook ** Hexcel HXL.N: up 2.7% BUZZ-Jumps after report says Belgium's Solvay interested in takeover ** MasterCraft Boat MCFT.O: up 6.4% BUZZ-Raises outlook following profit beat; shares jump ** Dolby Laboratories DLB.N: up 0.5% BUZZ-Dolby Laboratories up as JPM raises PT on strong Q4 hopes The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes advanced on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound, with technology stocks bouncing back from steep losses this week. The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc , up 7.8% ** Qualcomm Inc , up 5.5% ** Bio Rad Laboratories , up 5.5% The top three S&P 500 .PL.INX percentage losers: ** Air Products & Chemicals , down 7.6% ** Dentsply Sirona , down 5.5% ** Henry Schein , down 5.3% The top three NYSE .PG.N percentage gainers: ** Revlon Inc , up 26.4% ** Fubotv Inc Ord , up 16.2% ** Fiverr International , up 15.7% The top three NYSE .PL.N percentage losers: ** Aurora Cannabis , down 21.2% ** Ashford Hospitality , down 17.6% ** Titan International , down 14.6% The top three Nasdaq .PG.O percentage gainers: ** Five Prime Therapeutics , up 256.6% ** CM Life Sciences , up 59.4% ** Equillium Inc , up 46.8% The top three Nasdaq .PL.O percentage losers: ** EGain Corporatio , down 29.6% ** Greenland Technologies , down 17% ** Summit Wireless Technologies , down 16.1% ** Goldman Sachs GS.N: up 0.7% ** Morgan Stanley RIC: up 1.1% ** Wells Fargo WFC.N: up 0.2% ** Citigroup C.N: up 1.7% BUZZ-U.S. banks track markets higher on economic rebound hopes ** Apple AAPL.O: up 2.5% BUZZ-Set to snap 3-day losing streak ** Lyft Inc LYFT.O: up 3.3% BUZZ-Street View: Lyft raises hopes for post-pandemic profitability ** D.R. | Horton DHI.N: up 2.0% BUZZ-Rises as brokerages raise PTs on strong results ** Fuel Tech FTEK.O: up 82.7% BUZZ-Surges as co swings to quarterly profit ** HUYA Inc HUYA.N: up 4.9% BUZZ-Rises on Q3 profit beat ** Five Prime FPRX.O: up 256.6% BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT ** Pareteum Corp TEUM.O: down 42.6% BUZZ-Plunges on Nasdaq delisting notice ** Teladoc TDOC.N: up 4.9% BUZZ-Gains on upbeat revenue forecast ** Co-Diagnostics CODX.O: up 8.8% BUZZ-Rises as co says its tech works as COVID-19 test ** Arbor Realty Trust ABR.N: down 5.4% BUZZ-Drops after pricing stock offering ** Palo Alto Networks PANW.N: up 2.5% BUZZ-Palo Alto Networks to buy cybersecurity peer Expanse in $800 mln deal ** eGain EGAN.O: down 29.6% BUZZ-Plunges on downbeat second-quarter forecast ** Immuron IMRN.O: up 28.6% BUZZ-Surges after U.S. DoD confirms diarrhea vaccine produces immune response ** Inventiva IVA.O: up 5.9% BUZZ-Rises as FDA agrees one late-stage trial enough for NASH drug ** Yelp YELP.N: up 3.2% BUZZ-Rises as Evercore upgrades on post-vaccine recovery hopes ** Organogenesis ORGO.O: down 9.4% BUZZ-Organogenesis slumps on planned stock offering ** Summer Infant SUMR.O: down 13.6% BUZZ-Falls on lower Q3 revenue, disappointing Q4 outlook ** Purple Innovation PRPL.O: up 2.5% BUZZ-Rises as higher direct-selling powers Q3 beat ** Sonim Technologies Inc SONM.O: down 9.8% BUZZ-Falls after Q3 revenue halves, misses estimates ** KKR & Co KKR.N: down 3.5% BUZZ-Down after Morgan Stanley prices block ** Performance Shipping PSHG.O: up 27.9% BUZZ-Performance Shipping to buy tanker vessel, shares soar ** Sorrento SRNE.O: up 10.9% BUZZ-Rises on application to start COVID-19 treatment clinical trial ** Aurora Cannabis ACB.N: down 21.2% BUZZ-Dives after upsized public offering, downgrade ** AngloGold Ashanti AU.N: down 1.2% ** Gold Fields GFI.N: down 3.4% ** Newmont Corp NEM.N: down 1.4% BUZZ-Gold miners: Fall as bullion slips on stronger dollar, equities ** S&W Seed SANW.O: up 5.2% BUZZ-Rises as Q3 revenue tops estimates ** Addus HomeCare ADUS.O: up 1.2% BUZZ-Gains; co to acquire Queen City Hospice ** FuboTV FUBO.N: up 16.2% BUZZ-Surges on higher rev outlook, rise in paid subscribers ** Revlon RIC: up 26.4% BUZZ-Rises on new bondholder participation in debt restructuring ** Pacific Biosciences PACB.O: up 14.9% BUZZ-Soars after equity raise ** Esperion ESPR.O: down 6.2% BUZZ-Down on $200 mln convertible debt offering ** ClearPoint Neuro CLPT.O: up 16.0% BUZZ-Gains on strong Q3 revenue, FY outlook ** Hexcel HXL.N: up 2.7% BUZZ-Jumps after report says Belgium's Solvay interested in takeover ** MasterCraft Boat MCFT.O: up 6.4% BUZZ-Raises outlook following profit beat; shares jump ** Dolby Laboratories DLB.N: up 0.5% BUZZ-Dolby Laboratories up as JPM raises PT on strong Q4 hopes The 11 major S&P 500 sectors: Communication Services .N At 12:09 ET, the Dow Jones Industrial Average .DJI was up 0.32% at 29,513.7. The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc , up 7.8% ** Qualcomm Inc , up 5.5% ** Bio Rad Laboratories , up 5.5% The top three S&P 500 .PL.INX percentage losers: ** Air Products & Chemicals , down 7.6% ** Dentsply Sirona , down 5.5% ** Henry Schein , down 5.3% The top three NYSE .PG.N percentage gainers: ** Revlon Inc , up 26.4% ** Fubotv Inc Ord , up 16.2% ** Fiverr International , up 15.7% The top three NYSE .PL.N percentage losers: ** Aurora Cannabis , down 21.2% ** Ashford Hospitality , down 17.6% ** Titan International , down 14.6% The top three Nasdaq .PG.O percentage gainers: ** Five Prime Therapeutics , up 256.6% ** CM Life Sciences , up 59.4% ** Equillium Inc , up 46.8% The top three Nasdaq .PL.O percentage losers: ** EGain Corporatio , down 29.6% ** Greenland Technologies , down 17% ** Summit Wireless Technologies , down 16.1% ** Goldman Sachs GS.N: up 0.7% ** Morgan Stanley RIC: up 1.1% ** Wells Fargo WFC.N: up 0.2% ** Citigroup C.N: up 1.7% BUZZ-U.S. banks track markets higher on economic rebound hopes ** Apple AAPL.O: up 2.5% BUZZ-Set to snap 3-day losing streak ** Lyft Inc LYFT.O: up 3.3% BUZZ-Street View: Lyft raises hopes for post-pandemic profitability ** D.R. | Horton DHI.N: up 2.0% BUZZ-Rises as brokerages raise PTs on strong results ** Fuel Tech FTEK.O: up 82.7% BUZZ-Surges as co swings to quarterly profit ** HUYA Inc HUYA.N: up 4.9% BUZZ-Rises on Q3 profit beat ** Five Prime FPRX.O: up 256.6% BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT ** Pareteum Corp TEUM.O: down 42.6% BUZZ-Plunges on Nasdaq delisting notice ** Teladoc TDOC.N: up 4.9% BUZZ-Gains on upbeat revenue forecast ** Co-Diagnostics CODX.O: up 8.8% BUZZ-Rises as co says its tech works as COVID-19 test ** Arbor Realty Trust ABR.N: down 5.4% BUZZ-Drops after pricing stock offering ** Palo Alto Networks PANW.N: up 2.5% BUZZ-Palo Alto Networks to buy cybersecurity peer Expanse in $800 mln deal ** eGain EGAN.O: down 29.6% BUZZ-Plunges on downbeat second-quarter forecast ** Immuron IMRN.O: up 28.6% BUZZ-Surges after U.S. DoD confirms diarrhea vaccine produces immune response ** Inventiva IVA.O: up 5.9% BUZZ-Rises as FDA agrees one late-stage trial enough for NASH drug ** Yelp YELP.N: up 3.2% BUZZ-Rises as Evercore upgrades on post-vaccine recovery hopes ** Organogenesis ORGO.O: down 9.4% BUZZ-Organogenesis slumps on planned stock offering ** Summer Infant SUMR.O: down 13.6% BUZZ-Falls on lower Q3 revenue, disappointing Q4 outlook ** Purple Innovation PRPL.O: up 2.5% BUZZ-Rises as higher direct-selling powers Q3 beat ** Sonim Technologies Inc SONM.O: down 9.8% BUZZ-Falls after Q3 revenue halves, misses estimates ** KKR & Co KKR.N: down 3.5% BUZZ-Down after Morgan Stanley prices block ** Performance Shipping PSHG.O: up 27.9% BUZZ-Performance Shipping to buy tanker vessel, shares soar ** Sorrento SRNE.O: up 10.9% BUZZ-Rises on application to start COVID-19 treatment clinical trial ** Aurora Cannabis ACB.N: down 21.2% BUZZ-Dives after upsized public offering, downgrade ** AngloGold Ashanti AU.N: down 1.2% ** Gold Fields GFI.N: down 3.4% ** Newmont Corp NEM.N: down 1.4% BUZZ-Gold miners: Fall as bullion slips on stronger dollar, equities ** S&W Seed SANW.O: up 5.2% BUZZ-Rises as Q3 revenue tops estimates ** Addus HomeCare ADUS.O: up 1.2% BUZZ-Gains; co to acquire Queen City Hospice ** FuboTV FUBO.N: up 16.2% BUZZ-Surges on higher rev outlook, rise in paid subscribers ** Revlon RIC: up 26.4% BUZZ-Rises on new bondholder participation in debt restructuring ** Pacific Biosciences PACB.O: up 14.9% BUZZ-Soars after equity raise ** Esperion ESPR.O: down 6.2% BUZZ-Down on $200 mln convertible debt offering ** ClearPoint Neuro CLPT.O: up 16.0% BUZZ-Gains on strong Q3 revenue, FY outlook ** Hexcel HXL.N: up 2.7% BUZZ-Jumps after report says Belgium's Solvay interested in takeover ** MasterCraft Boat MCFT.O: up 6.4% BUZZ-Raises outlook following profit beat; shares jump ** Dolby Laboratories DLB.N: up 0.5% BUZZ-Dolby Laboratories up as JPM raises PT on strong Q4 hopes The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes advanced on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound, with technology stocks bouncing back from steep losses this week. .N At 12:09 ET, the Dow Jones Industrial Average .DJI was up 0.32% at 29,513.7. |
37136.0 | 2020-11-11 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Apple, Lyft, D.R. Horton, Norwegian Cruise Line | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-apple-lyft-d.r.-horton-norwegian-cruise-line-2020-11-11 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes advanced on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound, with technology stocks bouncing back from steep losses this week. .N
At 10:27 ET, the Dow Jones Industrial Average .DJI was down 0.18% at 29,368.85. The S&P 500 .SPX was up 0.45% at 3,561.54 and the Nasdaq Composite .IXIC was up 1.40% at 11,716.112. The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc , up 5.8% ** ServiceNow Inc , up 5.3% ** Invesco Ltd , up 5.2% The top three S&P 500 .PL.INX percentage losers: ** Dentsply Sirona , down 5.9% ** Air Products & Chemicals , down 5.8% ** Federal Realty Investment Trust , down 5.5% The top three NYSE .PG.N percentage gainers: ** Revlon Inc , up 22.2% ** Fubotv Inc , up 21.8% ** Fiverr International , up 12.5% The top three NYSE .PL.N percentage losers: ** Aurora Cannabis , down 19.9% ** Ashford Hosptlty , down 14.7% ** AMC Entertainment , down 13.7% The top three Nasdaq .PG.O percentage gainers: ** Five Prime Therapeutics , up 229.8% ** CM Life Sciences , up 59.4% ** Genfit , up 29.3% The top three Nasdaq .PL.O percentage losers: ** EGain Corporatio , down 29.5% ** Greenland Technologies , down 22% ** Summer Infant , down 21.1%
** Apple AAPL.O: up 1.8%
BUZZ-Set to snap 3-day losing streak
** Lyft Inc LYFT.O: up 4.6%
BUZZ-Street View: Lyft raises hopes for post-pandemic profitability
** D.R. Horton DHI.N: up 0.7%
BUZZ-Rises as brokerages raise PTs on strong results
** Norwegian Cruise Line NCLH.N: up 1.7%
BUZZ-Up as brokers raise PT on vaccine optimism
** Fuel Tech FTEK.O: up 115.5%
BUZZ-Surges as co swings to quarterly profit
** Tencent Music TME.N: up 0.1%
BUZZ-Rises on strong Q3
** HUYA Inc HUYA.N: up 4.1%
BUZZ-Rises on Q3 profit beat
** Five Prime FPRX.O: up 229.8%
BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT
** Pareteum Corp TEUM.O: down 41.5%
BUZZ-Plunges on Nasdaq delisting notice
** Teladoc TDOC.N: up 3.1%
BUZZ-Gains on upbeat revenue forecast
** Co-Diagnostics CODX.O: up 6.9%
BUZZ-Rises as co says its tech works as COVID-19 test
** Arbor Realty Trust ABR.N: down 5.0%
BUZZ-Drops after pricing stock offering
** Performant Financial Corp PFMT.O: up 6.4%
BUZZ-Gains on strong Q3 earnings
** Palo Alto Networks PANW.N: up 1.9%
BUZZ-Palo Alto Networks to buy cybersecurity peer Expanse in $800 mln deal
** eGain EGAN.O: down 29.5%
BUZZ-Plunges on downbeat second-quarter forecast
** Immuron IMRN.O: up 10.1%
BUZZ-Surges after U.S. DoD confirms diarrhea vaccine produces immune response
** Inventiva IVA.O: up 5.2%
BUZZ-Rises as FDA agrees one late-stage trial enough for NASH drug
** Yelp YELP.N: up 2.8%
BUZZ-Rises as Evercore upgrades on post-vaccine recovery hopes
** Organogenesis ORGO.O: down 9.1%
BUZZ-Organogenesis slumps on planned stock offering
** Summer Infant SUMR.O: down 21.1%
BUZZ-Falls on lower Q3 revenue, disappointing Q4 outlook
** Purple Innovation PRPL.O: up 2.3%
BUZZ-Purple Innovation: Rises as higher direct-selling powers Q3 beat
** Sonim Technologies Inc SONM.O: down 13.0%
BUZZ-Falls after Q3 revenue halves, misses estimates
** KKR & Co KKR.N: down 3.8%
BUZZ-Shares down after Morgan Stanley prices block
** Performance Shipping PSHG.O: up 24.8%
BUZZ-Buys tanker vessel, shares soar
** Sorrento SRNE.O: up 13.1%
BUZZ-Rises on application to start COVID-19 treatment clinical trial
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.40%
Consumer Discretionary
.SPLRCD
up 1.19%
Consumer Staples
.SPLRCS
up 0.48%
Energy
.SPNY
down 0.13%
Financial
.SPSY
down 0.93%
Health
.SPXHC
down 0.22%
Industrial
.SPLRCI
down 0.99%
Information Technology
.SPLRCT
up 1.71%
Materials
.SPLRCM
down 1.38%
Real Estate
.SPLRCR
up 0.63%
Utilities
.SPLRCU
up 0.66%
(Compiled by Shreyasee Raj)
((Shreyasee.Raj@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes advanced on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound, with technology stocks bouncing back from steep losses this week. The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc , up 5.8% ** ServiceNow Inc , up 5.3% ** Invesco Ltd , up 5.2% The top three S&P 500 .PL.INX percentage losers: ** Dentsply Sirona , down 5.9% ** Air Products & Chemicals , down 5.8% ** Federal Realty Investment Trust , down 5.5% The top three NYSE .PG.N percentage gainers: ** Revlon Inc , up 22.2% ** Fubotv Inc , up 21.8% ** Fiverr International , up 12.5% The top three NYSE .PL.N percentage losers: ** Aurora Cannabis , down 19.9% ** Ashford Hosptlty , down 14.7% ** AMC Entertainment , down 13.7% The top three Nasdaq .PG.O percentage gainers: ** Five Prime Therapeutics , up 229.8% ** CM Life Sciences , up 59.4% ** Genfit , up 29.3% The top three Nasdaq .PL.O percentage losers: ** EGain Corporatio , down 29.5% ** Greenland Technologies , down 22% ** Summer Infant , down 21.1% ** Apple AAPL.O: up 1.8% BUZZ-Set to snap 3-day losing streak ** Lyft Inc LYFT.O: up 4.6% BUZZ-Street View: Lyft raises hopes for post-pandemic profitability ** D.R. Horton DHI.N: up 0.7% BUZZ-Rises as brokerages raise PTs on strong results ** Norwegian Cruise Line NCLH.N: up 1.7% BUZZ-Up as brokers raise PT on vaccine optimism ** Fuel Tech FTEK.O: up 115.5% BUZZ-Surges as co swings to quarterly profit ** Tencent Music TME.N: up 0.1% BUZZ-Rises on strong Q3 ** HUYA Inc HUYA.N: up 4.1% BUZZ-Rises on Q3 profit beat ** Five Prime FPRX.O: up 229.8% BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT ** Pareteum Corp TEUM.O: down 41.5% BUZZ-Plunges on Nasdaq delisting notice ** Teladoc TDOC.N: up 3.1% BUZZ-Gains on upbeat revenue forecast ** Co-Diagnostics CODX.O: up 6.9% BUZZ-Rises as co says its tech works as COVID-19 test ** Arbor Realty Trust ABR.N: down 5.0% BUZZ-Drops after pricing stock offering ** Performant Financial Corp PFMT.O: up 6.4% BUZZ-Gains on strong Q3 earnings ** Palo Alto Networks PANW.N: up 1.9% BUZZ-Palo Alto Networks to buy cybersecurity peer Expanse in $800 mln deal ** eGain EGAN.O: down 29.5% BUZZ-Plunges on downbeat second-quarter forecast ** Immuron IMRN.O: up 10.1% BUZZ-Surges after U.S. DoD confirms diarrhea vaccine produces immune response ** Inventiva IVA.O: up 5.2% BUZZ-Rises as FDA agrees one late-stage trial enough for NASH drug ** Yelp YELP.N: up 2.8% BUZZ-Rises as Evercore upgrades on post-vaccine recovery hopes ** Organogenesis ORGO.O: down 9.1% BUZZ-Organogenesis slumps on planned stock offering ** Summer Infant SUMR.O: down 21.1% BUZZ-Falls on lower Q3 revenue, disappointing Q4 outlook ** Purple Innovation PRPL.O: up 2.3% BUZZ-Purple Innovation: Rises as higher direct-selling powers Q3 beat ** Sonim Technologies Inc SONM.O: down 13.0% BUZZ-Falls after Q3 revenue halves, misses estimates ** KKR & Co KKR.N: down 3.8% BUZZ-Shares down after Morgan Stanley prices block ** Performance Shipping PSHG.O: up 24.8% BUZZ-Buys tanker vessel, shares soar ** Sorrento SRNE.O: up 13.1% BUZZ-Rises on application to start COVID-19 treatment clinical trial The 11 major S&P 500 sectors: Communication Services | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes advanced on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound, with technology stocks bouncing back from steep losses this week. The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc , up 5.8% ** ServiceNow Inc , up 5.3% ** Invesco Ltd , up 5.2% The top three S&P 500 .PL.INX percentage losers: ** Dentsply Sirona , down 5.9% ** Air Products & Chemicals , down 5.8% ** Federal Realty Investment Trust , down 5.5% The top three NYSE .PG.N percentage gainers: ** Revlon Inc , up 22.2% ** Fubotv Inc , up 21.8% ** Fiverr International , up 12.5% The top three NYSE .PL.N percentage losers: ** Aurora Cannabis , down 19.9% ** Ashford Hosptlty , down 14.7% ** AMC Entertainment , down 13.7% The top three Nasdaq .PG.O percentage gainers: ** Five Prime Therapeutics , up 229.8% ** CM Life Sciences , up 59.4% ** Genfit , up 29.3% The top three Nasdaq .PL.O percentage losers: ** EGain Corporatio , down 29.5% ** Greenland Technologies , down 22% ** Summer Infant , down 21.1% ** Apple AAPL.O: up 1.8% BUZZ-Set to snap 3-day losing streak ** Lyft Inc LYFT.O: up 4.6% BUZZ-Street View: Lyft raises hopes for post-pandemic profitability ** D.R. Horton DHI.N: up 0.7% BUZZ-Rises as brokerages raise PTs on strong results ** Norwegian Cruise Line NCLH.N: up 1.7% BUZZ-Up as brokers raise PT on vaccine optimism ** Fuel Tech FTEK.O: up 115.5% BUZZ-Surges as co swings to quarterly profit ** Tencent Music TME.N: up 0.1% BUZZ-Rises on strong Q3 ** HUYA Inc HUYA.N: up 4.1% BUZZ-Rises on Q3 profit beat ** Five Prime FPRX.O: up 229.8% BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT ** Pareteum Corp TEUM.O: down 41.5% BUZZ-Plunges on Nasdaq delisting notice ** Teladoc TDOC.N: up 3.1% BUZZ-Gains on upbeat revenue forecast ** Co-Diagnostics CODX.O: up 6.9% BUZZ-Rises as co says its tech works as COVID-19 test ** Arbor Realty Trust ABR.N: down 5.0% BUZZ-Drops after pricing stock offering ** Performant Financial Corp PFMT.O: up 6.4% BUZZ-Gains on strong Q3 earnings ** Palo Alto Networks PANW.N: up 1.9% BUZZ-Palo Alto Networks to buy cybersecurity peer Expanse in $800 mln deal ** eGain EGAN.O: down 29.5% BUZZ-Plunges on downbeat second-quarter forecast ** Immuron IMRN.O: up 10.1% BUZZ-Surges after U.S. DoD confirms diarrhea vaccine produces immune response ** Inventiva IVA.O: up 5.2% BUZZ-Rises as FDA agrees one late-stage trial enough for NASH drug ** Yelp YELP.N: up 2.8% BUZZ-Rises as Evercore upgrades on post-vaccine recovery hopes ** Organogenesis ORGO.O: down 9.1% BUZZ-Organogenesis slumps on planned stock offering ** Summer Infant SUMR.O: down 21.1% BUZZ-Falls on lower Q3 revenue, disappointing Q4 outlook ** Purple Innovation PRPL.O: up 2.3% BUZZ-Purple Innovation: Rises as higher direct-selling powers Q3 beat ** Sonim Technologies Inc SONM.O: down 13.0% BUZZ-Falls after Q3 revenue halves, misses estimates ** KKR & Co KKR.N: down 3.8% BUZZ-Shares down after Morgan Stanley prices block ** Performance Shipping PSHG.O: up 24.8% BUZZ-Buys tanker vessel, shares soar ** Sorrento SRNE.O: up 13.1% BUZZ-Rises on application to start COVID-19 treatment clinical trial The 11 major S&P 500 sectors: Communication Services | .N At 10:27 ET, the Dow Jones Industrial Average .DJI was down 0.18% at 29,368.85. The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc , up 5.8% ** ServiceNow Inc , up 5.3% ** Invesco Ltd , up 5.2% The top three S&P 500 .PL.INX percentage losers: ** Dentsply Sirona , down 5.9% ** Air Products & Chemicals , down 5.8% ** Federal Realty Investment Trust , down 5.5% The top three NYSE .PG.N percentage gainers: ** Revlon Inc , up 22.2% ** Fubotv Inc , up 21.8% ** Fiverr International , up 12.5% The top three NYSE .PL.N percentage losers: ** Aurora Cannabis , down 19.9% ** Ashford Hosptlty , down 14.7% ** AMC Entertainment , down 13.7% The top three Nasdaq .PG.O percentage gainers: ** Five Prime Therapeutics , up 229.8% ** CM Life Sciences , up 59.4% ** Genfit , up 29.3% The top three Nasdaq .PL.O percentage losers: ** EGain Corporatio , down 29.5% ** Greenland Technologies , down 22% ** Summer Infant , down 21.1% ** Apple AAPL.O: up 1.8% BUZZ-Set to snap 3-day losing streak ** Lyft Inc LYFT.O: up 4.6% BUZZ-Street View: Lyft raises hopes for post-pandemic profitability ** D.R. Horton DHI.N: up 0.7% BUZZ-Rises as brokerages raise PTs on strong results ** Norwegian Cruise Line NCLH.N: up 1.7% BUZZ-Up as brokers raise PT on vaccine optimism ** Fuel Tech FTEK.O: up 115.5% BUZZ-Surges as co swings to quarterly profit ** Tencent Music TME.N: up 0.1% BUZZ-Rises on strong Q3 ** HUYA Inc HUYA.N: up 4.1% BUZZ-Rises on Q3 profit beat ** Five Prime FPRX.O: up 229.8% BUZZ-Surges on gastric cancer treatment trial data, brokerages raise PT ** Pareteum Corp TEUM.O: down 41.5% BUZZ-Plunges on Nasdaq delisting notice ** Teladoc TDOC.N: up 3.1% BUZZ-Gains on upbeat revenue forecast ** Co-Diagnostics CODX.O: up 6.9% BUZZ-Rises as co says its tech works as COVID-19 test ** Arbor Realty Trust ABR.N: down 5.0% BUZZ-Drops after pricing stock offering ** Performant Financial Corp PFMT.O: up 6.4% BUZZ-Gains on strong Q3 earnings ** Palo Alto Networks PANW.N: up 1.9% BUZZ-Palo Alto Networks to buy cybersecurity peer Expanse in $800 mln deal ** eGain EGAN.O: down 29.5% BUZZ-Plunges on downbeat second-quarter forecast ** Immuron IMRN.O: up 10.1% BUZZ-Surges after U.S. DoD confirms diarrhea vaccine produces immune response ** Inventiva IVA.O: up 5.2% BUZZ-Rises as FDA agrees one late-stage trial enough for NASH drug ** Yelp YELP.N: up 2.8% BUZZ-Rises as Evercore upgrades on post-vaccine recovery hopes ** Organogenesis ORGO.O: down 9.1% BUZZ-Organogenesis slumps on planned stock offering ** Summer Infant SUMR.O: down 21.1% BUZZ-Falls on lower Q3 revenue, disappointing Q4 outlook ** Purple Innovation PRPL.O: up 2.3% BUZZ-Purple Innovation: Rises as higher direct-selling powers Q3 beat ** Sonim Technologies Inc SONM.O: down 13.0% BUZZ-Falls after Q3 revenue halves, misses estimates ** KKR & Co KKR.N: down 3.8% BUZZ-Shares down after Morgan Stanley prices block ** Performance Shipping PSHG.O: up 24.8% BUZZ-Buys tanker vessel, shares soar ** Sorrento SRNE.O: up 13.1% BUZZ-Rises on application to start COVID-19 treatment clinical trial The 11 major S&P 500 sectors: Communication Services | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes advanced on Wednesday as signs of a working COVID-19 vaccine raised hopes of a faster-than-expected economic rebound, with technology stocks bouncing back from steep losses this week. .N At 10:27 ET, the Dow Jones Industrial Average .DJI was down 0.18% at 29,368.85. The S&P 500 .SPX was up 0.45% at 3,561.54 and the Nasdaq Composite .IXIC was up 1.40% at 11,716.112. |
37137.0 | 2020-11-10 00:00:00 UTC | Aurora Cannabis Inc. (ACB) Q1 2021 Earnings Call Transcript | ACB | https://www.nasdaq.com/articles/aurora-cannabis-inc.-acb-q1-2021-earnings-call-transcript-2020-11-10 | nan | nan | Image source: The Motley Fool.
Aurora Cannabis Inc. (NYSE: ACB)
Q1 2021 Earnings Call
Nov 09, 2020, 8:30 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good morning everyone and welcome to the Aurora Cannabis first-quarter fiscal 2021 conference call for the three-months ending September 31, 2020. This call is being recorded today, Monday, November 9, 2020. Listeners are reminded that certain matters discussed in today's conference call or answers that may be given to questions asked could constitute forward-looking statements that are subject to the risks and uncertainties relating to Aurora's future financial or business performance. Actual results could differ materially from those anticipated in the forward-looking statements.
The risk factors that may affect results are detailed in Aurora's annual information form and other periodic filings and registration statements. These documents may be assessed via the SEDAR and EDGAR databases. Since we are conducting today's call from our respective remote locations, there may be brief delays, crosstalk, or other minor technical issues during this call. Thank you in advance for your patience and understanding.
I would now like to introduce Mr. Miguel Martin, chief executive officer for Aurora Cannabis. Please go ahead, Mr. Martin.
Miguel Martin -- Chief Executive Officer
Thank you, operator. And good morning, everyone. And thank you for your interest in Aurora. Since being appointed CEO in late September, I've established the tactical plans to succeed.
And I've been working with our team on executing these plans. We intend to demonstrate that Aurora can be a profitable, growth-oriented leader in the global cannabinoid market. I would therefore like to spend our time today discussing the execution steps we're making in our business, as well as our go-forward strategy. But first, let me comment briefly on the recent quarter.
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Q1 can best be characterized as a transitional period. While there remains a significant opportunity available to Aurora in the Canadian consumer segment the other legs of our business are performing well. We remain the leader in the high margin Canadian medical market., and our International Medical business sells 41% net revenue growth this quarter. Our CBD brand Reliva is the No.1 ranked brand by Nielsen in the U.S.
CBD sector, and most importantly, our platform provides us with significant optionality in the CBD market as I'll explain later. As you can see in my earnings release, our quarterly results were generally in-line with our previous expectations. With cannabis net revenues of $67.8 million, and an adjusted gross margin of 52%, excluding ramp-up costs at Nordic. SG&A excluding restructuring items was $43 million which was consistent with our run rate target of the low $40 million range.
Finally as remains -- relates to Q1, we demonstrated progress with respect in narrowing our adjusted EBITDA loss the $10.5 million. This marked the third consecutive quarter of adjusted EBITDA trending toward breakeven. As you know as part of our business transformation plan, we've made some very tough decisions and done a lot of hard work over the past year with respect to rightsizing our cost structure. This includes taking the largest cut to G&A of any Canadian LP.
For context, we cut quarterly SG&A from $100 million to approximately $43 million per quarter and sharply reduced our capex. Under my leadership, we will continue our focus on fiscal prudence. I can say without hesitation that our entire company is in a different mindset now than we were previously, and I've empowered all levels of the company to look for opportunities for profitable growth and for cost efficiencies. For example, we have demonstrated the capacity to make difficult financial decisions such as in June where we were one of the first cannabis companies to take the step to write down our inventory and recost our trend.
I also think we have a real opportunity to better align production cost to sales and shift costs from fixed to variable. In doing so, we'll manage our working capital investment more effectively, so that we can get the cash flow positive generation more quickly. This longer-term cash flow objective goes beyond simply reaching a positive adjusted EBITDA, our goal for the second quarter. Our expectation for the second quarter and demonstrates our leadership in differentiating Aurora and setting the standard for building a value-creating global Cannabis Company.
Back in June, we announced the closure of five cultivation facilities across our network, and I can confirm that a few of those facilities are now shuttered. But lighting production costs for sales and comes as more than that. Specifically, our Aurora Nordic 1 facility, which is a new EU GMP certified production facility located in Denmark will allow us to more efficiently distribute products in Europe and around the world, and better allocate production here in Canada. Before I discuss the performance of our business segments and in particular our Canadian consumer segment, let me briefly address our recent capital raise under the ATM.
The $280 million that we raised recently through our previous ATM was a responsible decision in today's challenging environment. The cash will ensure that we have the runway needed to complete the remaining elements of our transformation plan, execute our tactical plans to regain market share in the Canadian consumer business and the position for the rapidly changing global cannabinoid market. We appreciate the cannabis companies are being evaluated with respect to their business performance and their liquidity. And we wanted to ensure that we are addressing both sides of this equation without any perceived concerns with respect to liquidity.
We now have a much stronger balance sheet that makes it possible for us to act opportunistically, and allows investors to focus on our business execution. In fact, as I said earlier, we are squarely focused on generating operating cash flow as quickly as possible. And of course, as a matter of good governance, we have also filed the new shell prospectus. This is a common step for most large companies to have available if needed.
Now, let's discuss our business itself beginning with the Canadian consumer market where we have much work to do to gain share, but also a strong sense of urgency to continue executing our well thought out tactical plans. As you know, there are two things to consider that are working in our favor, and in doing so, providing us with considerable tailwinds. First, the category is growing. With Stats cannabinoids are showing 11% month over month growth in July, and another 5% in August and more stores continue open particularly in the province of Ontario, which is very encouraging news.
In fact, from the national data that we have seen, the current store count is approximately 1,200 and could reach 1,300 by December. And second, the consumer has demonstrated very dynamic tendencies, with market share moving very quickly between brands unlike in more stable CPG categories. This provides us with a great opening for our pivot to premium brands. These factors suggest to us that with the right accountabilities and focus, the right products, the right sales execution, including product availability, visibility, packaging, and better engagement with the provinces, we can gain share in key growth categories quickly, ll while achieving profitability.
The data from Canada and other mature markets indicate that premium and super-premium brands have been, and will continue to be successful in all formats. Therefore, Aurora has a real opportunity for a more articulated and balanced portfolio offering. With a greater focus on higher-margin, and sustainable premium assets; such as vapes, pre-rolls, and premium flower offerings across multiple price tiers. For example, gummies as a format, we have a No.1 position.
And we are allocating additional resources so that we can enhance and grow our format. We are also working to expand our leading concentrates and to refocus our dried flower business toward higher gross profit dollar pools. Of course, premium segments must also be supported with classic CPG sales, marketing, trade marketing, and consumer engagement methodologies to build awareness, foster affinity, and generate outsized returns. The key of course is to ensure that in doing so, we're delivering more dollars to the gross profit line versus simply just delivering low-margin revenue.
We are, therefore, much more invested in our market share within the premium and super-premium categories along with our market share of categories such as, vapor, pre-rolls, and concentrates that are margin accreted compared to our market share and a deep discount flower business. While it's still early days, I'm happy to say that we're starting to see some green shoots from these initiatives and suggest they keep tabs on the headset data, and other market data so that you can gauge our ongoing performance. For example, we're very encouraged by the great response to Phase 1 of our vapes' lives that recently hit the market. We're also seeing strong demand from our aces pre-roll, and are currently working through some supply constraints will help get those issues resolved soon so that we can have broader distribution in that key product category.
Let me also say that we would invade some pre-rolls, there's a lot of opportunities to bring classic CPG elements in packaging, and alignment, the traditional flower does not lend itself to. We'll accelerate our focus on our premium brands, Aurora and San Raf, as well as our super-premium brand Whistler. These are tremendous assets that balance out the total offering to our consumers. Our intention is to build an ecosystem around each of them through various formats to foster greater brand visibility and provide greater choices to the consumer where they can work up the value chain.
As an example, we're working to extend these brands to include San Raf pre roles and higher quality, Whistler vape. Through all these initiatives our intention is to generate not just revenue but quality revenue that will deliver a healthy gross profit dollar as opposed to essentially just a gross margin percentage. Whistler for example currently delivers 10 times the gross profit dollars per gram that the discovery and mine. So, our path forward and putting more dollars to the bottom line is based on the notion that not all revenue dollars are created equal.
On a related note, while we continue to support our daily special brand, we think the value segment may -- value opportunity to shift production and manufacturing cost to a more variable model, and we are exploring that opportunity. This wearable model could also allow us to better control inventory build.In my 20 plus years of working with products in dynamic categories, I've seen many examples of there being an advantage to having more flexibility with a variable cost model. Now, let me turn your attention to our domestic and international medical businesses, which are operating well and delivered a 4% revenue increase over the last quarter. While our Canadian medical revenue declined slightly over the prior quarter, this segment is an evolving landscape, and we're extremely happy with our ability to manage that business.
We have moved our patient intake and experience online and can now offer substantially more choices to our patients and veterans as a result. While the medical channel overtime may see some migration of the consumer channel, we see opportunities to retain and grow key patient groups like Veterans to continue to grow the medical market. Our National Medical segment has been a consistent performer and reported a 41% increase in Q1. We are already one of the leading providers of flowers in Germany, and we continue to see opportunities in the oil market.
We also just cleared an important regulatory milestone in the Aurora Nordic 1 production facility in Denmark, which just achieved GMP certification, and its sales license for flower and oil. This facility is now able to ship from Denmark to Germany, as well as the rest of the EU and other parts of the world. There is certainly a great lesson here from our success to date in the global medical market that has positive implications for other opportunities, namely that it takes a lot of investment, a lot of compliance expertise, and a lot of thought to be successful with the high standards that these international markets require. But once those capabilities are built out they become very portable.
We are bullish on the long-term international market opportunity and believe that Aurora would demonstrate expertise and medical market leadership is very well positioned to continue to generate enduring shareholder value from international business as these markets develop. Lastly, our Nielsen top-ranked U.S. CBD brand Reliva remains an enviable strategic platform. Despite the temporary slow growth due to COVID, our platform already provides us with a critical distribution and regulatory expertise, and relationships both advantages as the U.S.
market continues to evolve. Reliva focuses on brick and mortar stores as an exclusive CBD supplier for some of the largest retailers and wholesalers nationally, and our products are in over 23,000 stores. This may be seen as an unusual approach in a COVID environment given the general consumer shift to online sales, but our trade partners have taken a really dim view of those that have pivoted to online sales amid the pandemic, and we decided to stick with them to the long term. Given its variable cost model, Reliva is even a positive and as an aside late model that does not require any capex.
Looking ahead, we're very bullish on what we've heard of the FDA and anticipate positive action. So, when the FDA moves forward those companies with a history of compliance and experience in brick and mortar will win. We, therefore, think Reliva is a wonderful asset, and we'll continue to be a significant EBITDA contributor. According to the most conservative estimates, CBD represents about $2.0 billion in retail revenue.
So when we talk about global cannabinoids and leveraging Aurora's science and innovation, the non-THC parts of our portfolio could potentially be bigger than the THC parts of our portfolio, particularly with positive FDA action in the U.S.. I'll now turn it over to Glen, to walk through the financial details.
Glen Ibbott -- Chief Financial Officer
Thanks, Miguel. Good morning everyone. And thanks for joining us on today's call. We'll take a few minutes to review our first-quarter 20 21 results.
Please note that the figures I'll be going over today can be found in the press release we issued this morning. And our role in Canadian dollars unless otherwise stated. I should also note that in accordance with IFRS standards, the comparative revenue figures for Q4 2020 have been reduced slightly to reflect the removal of discontinued operations results from our ancillary revenues. Our first-quarter fiscal 2021, the period from July 1 to September 30, 2020, our net revenue, all of it from cannabis businesses came in at $67.8 million, a bit higher than the $60 million to $64 million range we previously provided.
Our sales mix remains evenly split with the consumer cannabis segment delivering $34.3 million in net revenue, and our medical cannabis segment delivering $33.5 million in net revenue. So let me dig into revenue a bit further. In the first quarter, our medical revenue was up slightly. Underlying this was a temporary decrease in Canada of about $600,000, as we transition all of our patients to a new integrated sales platform where they have access now to all of our medical brands.
Including MedReleaf, CanniMed, and Aurora, and soon, Whistler. Aurora continues to have a significant advantage in the Canadian medical market share. More than offsetting that temporary decline with a stellar performance from our international medical business, which continued to show the strength of our expertise and brands with a 41% increase quarter over quarter to almost $6.5 million of revenue. I should remind you that our leadership in the Canadian International Medical markets is very important to our bottom line and long-term value creation bringing sustainable growth expectations in a very solid gross margin profile averaging in the high 60% range in both Canada and internationally.
A Q1 consumer revenue declined 3% over Q4, despite the growing overall market.[Inaudible] outlined both the challenges and the opportunity for a large Canadian consumer market, we see Q1 consumer revenue as reflecting that period of transition for us. Despite the challenges, there are certainly some great spots in earnings including a $2.5 million increase in derivative product sales, and a 1.1 million increase in U.S. CBD revenues. We also recently launched our daily special vape offering quickly capturing consumer attention and the number three spot in Ontario.
Of course, this is just the first vape launch in a planned flower brand portfolio of vape offerings in the near-term. Turning now to our margins. Adjusted gross margin before fair value adjustments on overall cannabis net revenue remains strong at 48% in Q1, and this compares to 50% in the prior quarter. But excluding the $2.6 million of ramp-up costs and our Aurora Nordics facility in Denmark, our overall Q1 adjusted gross margin was actually 52%.
Medical margins continued to deliver important levels of profit at 67% overall excluding Aurora Nordic ramp-up costs. Our consumer margins improved at 38% due mainly to product mix with a heavier weighting on 2.0 products in the quarter. While inventory levels increased about $27 million, overall from the previous quarter, we are making progress in reducing this growth. And as Miguel has noted in his remarks between the facility closure is currently being executed, and opportunities to align current demand and production needs that our ongoing facilities expect to bring this into balance during the fiscal year.
Cannabis is a long lead time agricultural crop with the challenging demands schedule to forecasts alignment does take a bit of time. Miguel's remarks regarding shifting the more fixed cost to a variable over time are also very important to our plans to drive sustainable positive cash flow in the near future. Looking now at SG&A, including R&D. We successfully reduced SG&A costs, which we defined as including R&D spending as well.
For the announced target of below $40 million range. Taking it from over $100 million in Q2 2020, down to $43 million in Q1, 2021. This excludes approximately $4 million of termination costs related to the business result. As an important driver of our profitability and positive cash flow, I'm encouraged to tell you that we continue to operate our targeted corporate SG&A run rate in Q2, and have the entire company incentive to find incremental opportunities to hold and even reduce this important metric.
We do believe this level of SG&A spending is quite sustainable and capable of supporting a much higher revenue line. Pulling all of this together, adjusted EBITDA in Q1 2021 with the loss of $57.5 million, but that included a number of previously communicated restructuring costs, including employee and contract terminations. Adjusting for these costs and in accordance with our bank covenant definition, adjusted EBITDA for Q1 is $10.5 million. This is the third consecutive quarter of improvement as we continue to work toward positive EBITDA on cash flow.
And just make a couple of comments regarding our cash position and cash flows down, but as of November 6, our consolidated cash position was $250 million. That compares to $162 million as of June 30. That balance reflects the improvements in our recurring cash flows, which I'll describe in a moment, as well as cash raised through our ATM program in the last couple of months. It also reflects payments in October for our major annual cost of insurance and employee bonuses.
The balance on our term debt stands at $101 million on November 6, and we remain in compliance followed by debt covenants under this agreement. We are very happy with the continued excellent relationship and ongoing dialogue we have with our very supportive banking partners. The cash flow. The amount of cash we used in Q1 is similar to that in the prior quarter.
However, the mix within cash use showed significant positive progress. We use $25.2 million in cash to fund operations, excluding working capital investments, and used $47.4 million for contract and employee termination costs. These costs included the previously announced termination of the UFC agreement. We also paid $15 million for capital expenditures in Q1, down materially as many long weight projects are now complete.
Increases in networking capital use $37 million in the quarter, driven by a $14 million increase in accounts receivable, and a $25 million increase in inventory. As both Miguel and I have described earlier, we continue to execute plans to more closely aligned production levels with demand. Finally, in the quarter. We also used $18.2 million in cash to reduce our term debt and lease obligations.
So cash used in operations and for capital expenditures is crucial metrics in our drive toward generating sustainable positive free cash flow. And both have improved significantly and consistently over the past several quarters. As an example in our Q2 2020 fiscal quarter. That's the last quarter before we announced our business transformation plan, we used $86 million cash in operations, not counting working capital bill and $128 million for capital expenditures.
So total outflow $240 million for just these two items. As a comparison, I just reported a Q1 total of about $40 million for these same two items. We made the decision to reposition our company to be a leader in our industry and driving deposit EBITDA and cash flow. The actions we have taken have improved cash outflow on these returning items by over 80% within three quarters.
Even with a solid balance sheet and rapidly improving cash flows, we still believe that access to capital is of paramount importance. Particularly in an environment of rapid change and value-driving opportunities. So you will have noted that we recently filed a new shelf prospectus that is intended to protect the company and our shareholders as we navigate through an uncertain environment. But we are firmly convinced that our focus on getting the cash flow positive as quickly as possible will both demonstrate the excellent long-term value creation possible in this industry.
And will alleviate the need for additional equity capital as far as possible. As we have shown with our progress on the business transformation, we will continue to prudently manage our liquidity as we drive to a positive viewpoint between cash flow. So to conclude, and as I mentioned in our last report to you, I'm incredibly excited about the vision and tactical plan that Miguel's laid out here. I am seeing the recovery in a Canadian consumer business showing signs of traction.
And when you add that the leading position we have in medical candidates globally, the excellent gross margins we continue to deliver. With a vastly improved SG&A cost structure, and an important platform for U.S. growth, and a much-improved balance sheet you may be able to understand why we are quite Bullish for Aurora's future, and for our shareholders. Thanks for taking the time with us on a very busy reporting day.
Before we take questions, I'd like to now turn the call back to Miguel, for a few wrap-up remarks. Miguel.
Miguel Martin -- Chief Executive Officer
Thanks, Glenn. I want to close by highlighting the steps of the plan we're executing now with the Canadian consumer market. First, we're focused on driving sales of premium brands and flowers, Whistler, San Raf, and Aurora. Second, we are focused on winning share and key growth formats, vapor, freerolls, edibles, and concentrates.
And third, evaluating and executing on opportunities to align our production and manufacturing costs to sales and shift our model away from fixed to variable cost. I'm very confident in the early execution of these tactical plans. We know what we need to do to be successful across our main markets, and are already seeing early signs around the right path. As CEO, it is my responsibility to ensure that the entire team is executing accordingly to their respective responsibilities.
This entails continuously looking for more effective ways to capture top-line opportunities that are margin and creative and extract even more efficiencies from operations. When we are successful, we are not only strengthening our financial condition but over time, build a sustainable and growing level of adjusted EBITDA. And the base of positive free cash flow that can be used to invest globally over a multi-year horizon in both the THC and non-THC cannabinoids. We look forward to sharing our progress with respect to our plans, and in reaching these goals over the coming quarters.
Thank you. Operator, if you could please open it up for questions.
Questions & Answers:
Operator
Thank you. We will now be conducting a Q&A session. [Operator instructions]. Thank you.
Our first question comes from the line of Vivien Azer with Cowen. Please proceed with your question.
Vivien Azer -- Cowen and Company -- Analyst
Hi. Good morning.
Miguel Martin -- Chief Executive Officer
Good morning, Viv.
Vivien Azer -- Cowen and Company -- Analyst
So understanding this is a transitional quarter like maybe let's take it a little bit more near-term. Obviously, a lot of volatility in the markets. Elections are incredibly topical in the United States. So, Miguel, perhaps this is the great opportunity for you to levels that everyone on what you view as the tangible and likely regulatory pathways for a more notable entry into the U.S.
beyond CBD.
Miguel Martin -- Chief Executive Officer
Well, good morning Vivien and it's a great question. I think like most things with me, my background really colors my opinion. And having spent 20 years to 25 years in the tobacco business, you saw a lot of uncertainty and there are a lot of cool areas here. So first and foremost, while everyone is hyper-focused on potential federal action, I would really draw your attention to what's happening in the states.
When you talk about controlled substances and we talk about regulated products, state-level actions in many ways have more applicability in the short-term than federal actions. You see that in CBD today in the U.S. and the cannabinoid business and you clearly see it in the THC bearing cannabinoids, we had four really important states pass comprehensive cannabis legislation. And so that starts to move the ball forward in terms of when do you get to this tipping point.
Now on the federal side, the Biden/Harris position is clear and I think it's going to have to be a little more articulated than what the timing is. But depending on what happens with a runoff election in Georgia, the Republicans' control of the Senate has a key impact. So, all in all, if you boil it all down, I guess I would say the following three things: first and foremost, very positive news at the state level. We see both in the U.S.
and globally an increasing openness toward THC bearing cannabinoids and that bodes well for a company like Aurora; Secondly, there is no work to be done to see what a federal construct looks like; and third, and I think this is the most important piece by far is, if and when you see countries including the U.S. pass federal regulations and legislation the experiences that the Canadians LPs have had in Canada as the largest federal construct on manufacturing, packaging, production, sales and marketing, all of those things instantly becomes really valuable. By the same token the riggers getting into Germany or Poland or in Israel that is muscle memory that you can't just replicate really quickly. So we continue to learn.
We continue to see those pieces as being portable. And at a time in which there is an opening for us in the U.S., we think that we'll have a ton of resources and a ton of interest because of all those experiences. And so that's how I would couch it and it's -- I'm not here to give a particular timeline because I think that's folly trying to predict legislation like this at a federal level.
Vivien Azer -- Cowen and Company -- Analyst
Absolutely. And I appreciate that perspective. Miguel, If I can squeeze in a follow up then.
Miguel Martin -- Chief Executive Officer
Sure.
Vivien Azer -- Cowen and Company -- Analyst
As it relates to the Senate election to the extent that the Democrats do not take the Senate. Do you want to offer a view on what that means in terms of [Inaudible] and catalysts? Thanks.
Miguel Martin -- Chief Executive Officer
Yes. I mean I don't mean that it's easy to say that if Senator McConnell and the Republicans keep control of the Senate that's sort of that. I mean, as we've learned with states like Illinois the economic benefits of legalization of medical/rec has become a bit of a bipartisan issue. And so, I think we have to see unfortunately with the pandemic of COVID, you're seeing a lot of budget shortfalls, and a lot of people are looking toward a responsible regulated version of cannabis in order to fill that.
So I think maybe we'll have to see. But I understand that historical positions would be the Democrats are always going to support it, and Republicans always won't. That's not the case. We have not seen that in CBD.
As an example when you look at Republican governors particularly in say, Texas or Florida seeing the benefits of a regulated thoughtful approach on non-THC very cannabinoids, and I don't think it's a foregone conclusion that the Republicans given their focus on fiscal prudence wouldn't also have a similar opinion under the right construct. And again, those companies that have acted responsibly in a compliance-driven manner in Canada clearly are going to have an advantage when that construct presents itself.
Vivien Azer -- Cowen and Company -- Analyst
Understood. Thanks for the time.
Miguel Martin -- Chief Executive Officer
Thank you, very much.
Operator
Our next question comes from the line of Pablo Zuanic with Cantor Fitzgerald. Please, proceed with your question.
Pablo Zuanic -- Cantor Fitzgerald -- Analyst
Thank you. Good morning.
Miguel Martin -- Chief Executive Officer
Good morning, Pablo.
Pablo Zuanic -- Cantor Fitzgerald -- Analyst
I guess the first question would be just following up on the last one. When you see our cannabis growth, licensing, Tokyo Smoke, and Tweed to acreage and building awareness for their brands. And you here are free to talk about the strategic relevance of the sweet water dealing craft beer to build relevance for their brands. Do you think you need to do something similar to push or to start building awareness for your brands in the U.S., or it's just too early and there's still enough time to get behind that.
Thanks.
Miguel Martin -- Chief Executive Officer
Well, thank you for the thoughtful question, Pablo. I mean, listen. I'm not here to be critical of anyone else's approach, particularly as it builds awareness. I think the two examples you gave are a bit different.
One is, about leveraging infrastructure, and expertise. And the second to your point it is about awareness. My opinion is that when you have high-quality brands that can operate in a variety of different markets, as we do I think there's an opportunity. The biggest thing though Pablo to me is, all of your capabilities to be able to execute at a time in which it makes sense.
Obviously, there are challenges, structural challenges for publicly traded companies to operate today in the U.S. That doesn't mean though that you can't build infrastructure and capabilities for a time in which it is federally regulated. And that's really what we're focused on. So we will be opportunistic.
I clearly expect that a lot of folks will be deeply interested in what we've been able to do around the world from a regulated standpoint. I would also tell you that the science in genetics, and genomics, and experience with the plant may be one of the most portable aspects of both our business and other pieces of business. So it doesn't give me any pause that our friends in Canada have done what they've done, and the folks of Africa have done what they've done with the craft brewery in Atlanta. We feel very confident about our position.
We feel very confident that the resources that we have will be attractive, and there is a time in which it makes sense you'll see us be there.
Pablo Zuanic -- Cantor Fitzgerald -- Analyst
Ok then. Just a quick follow up on the Canadian market. I don't think there's much in the press release about outlook or comments in the quarter but. Obviously, you'll beat into the September quarter right.
$68 million versus $60 million to $64 million. Maybe what drove that because guidance was given late in the September quarter, but more importantly where are we -- what comments can you give in terms of guidance with the outlook for the December quarter in the break. With the -- I guess with a slight concern on my side that when I look at the market data particularly [Inaudible], I see evidence of the successful pivot into derivatives under premium brands. But I see a big fallout in sales so your value flower business right, which is still relevant to your total revenue.
So I wonder what that means to your total rig sales in the December quarter. So just some color there in terms of beat and in terms of where we are in the December quarter. Thanks.
Miguel Martin -- Chief Executive Officer
All right. I'll take the second half, and then I'll turn it over to Glen to talk about the first half. So, you just mentioned that these are big ships to move. Clearly, I've been unabashed in my focus on premium flower derivatives, vapor which obviously, have a long history and given with running Logic.
And so, what I would say is, there is a lot of folks that are pumping out low-cost flower at the low end. And that's had an impact. And you're going to see disruption as us and others right-sized production to consumer demand. And so that is what it is, and can certainly get there.
I think as you look at the percentage of the profit pool, and you look at the margins associated. And as I mentioned Whistler's 10 acts program as a discount flower you're going to start to see us move pretty strongly into the areas I've talked about. You've seen it on vapor. You'll see it on pre-rolls.
You'll see it on concentrates. And so, I'm not worried about the contribution of our profitability being reliant upon a low-cost flower and the commoditization of that particular aspect of the flower, I think is not a great place to be. And so, we're confident with our plan, and I think having being blessed with such premium assets is really going to be important. And for everyone that has this belief, I know you don't.
But this whole thing gives me commodities. I would draw your attention to what we're seeing in California and Colorado, and you know over 50 years to 100 years of regulated products there is clearly a place for premium products in the regulated space. And clearly in place as being demonstrated for premium products in the cannabis business. And as you know the margins of those derivative products are 2.0, some may call it away are stronger.
So, Glen, you want -- could you please take Pablo's first part of his question.
Glen Ibbott -- Chief Financial Officer
Yes.Thanks. Good morning. No problem. Listen, we have a range and as we were closing our books, it looks like we're getting toward the upper end of the range and potentially a little bit over.
I wasn't comfortable giving you guys any additional guidance beyond that range or shipped again till we got through all of this the review as opposed to closing the bottom review with our auditors. And for instance, you'll see in our MD&A where we disclose more. We pursue our revenues. In particular, our revenue provision is about a million dollars lower than it would have been the previous quarter.
And that all takes time to work through. So the outcome we knew here at the top or maybe slightly over. In fact, as we looked at it, as I say finalizing the book and recording all the proper provisions and things like that, we ended up coming in slightly above the range. And that's about it.
Pablo Zuanic -- Cantor Fitzgerald -- Analyst
That's good. Thank you both.
Miguel Martin -- Chief Executive Officer
No problem.
Operator
Our next question comes from the line of Michael Lavery with Piper Sandler. Please, proceed with your question.
Michael Laver -- Piper Sandler -- Analyst
Thank you. Good morning.
Miguel Martin -- Chief Executive Officer
Good morning, Michael.
Michael Laver -- Piper Sandler -- Analyst
So can you -- even if the timing of any entry into THC in the U.S. is certainly unknown. How much thought have you given to your strategic approach or how you would plan to go to market. And specifically, I'm curious how you view interstate commerce.
Do you see that as an inevitability, and if so, would you wait for that to come into place before trying to make an investment or entry or would you go ahead and begin on a state by state approach. How do you think about that?
Miguel Martin -- Chief Executive Officer
Well, first, as you look at the things that we have to do to be successful say in Germany or in Israel or in Poland, there are a lot of similarities to what you've had to do in the U.S. If you look at everything we've had to do in Canada, there are a lot of similarities to what I believe you'll have to do in the U.S. So much of the -- I know it's fun to talk about brands, and marketing, and devices, and formats but the real heavy lifting is going to be on the back end. So IP genetics, genomics, trademarks, science, compliance, manufacturing protocols, GMP, ICS certification, packaging compliance, testing protocols, sales, and marketing.
And so if I was asked by one that you want to focus on who are the companies that are going to win long term, look at the companies that do that. Yes, clearly having some brand awareness and excellence in terms of consumer awareness will be critical, but in a new regulated category, it's going to be all of the other stuff that I just mentioned that's going to clearly make a difference. And we're working on that every day, all day not only in Canada but around the world. And that benefits us greatly in the U.S.
Now, Michael as you know, the legal restrictions are the different aspects of what a publicly traded company has to do in order to be compliant will require some form of a federal construct. Now as I mentioned earlier, there are a lot of different pathways to get there that is not just a red-blue issue that can be around economics and a variety of things. And clearly, I think for the U.S. and for the states to truly unlock the greatest amount of economic potential interstate trade and shipment will have to be there.
I mean, if you look at it's somewhat of a correlated the Farm Bill on CBD, it would be incredibly challenging if you continue to ring-fence these states and have to produce register license grow and sell all within a state. And that really creates I think limitations on how the true economics. Now some might say, well that's always to exist because the states are going to want their piece of the pie of the economics of how that's grown. We don't see that in tobacco.
We don't see that in alcohol. We don't see that in spirits. We don't see that in pharma. So I think as this proceeds, really to unlock those economics and whether it's compliance or all these other aspects.
That would be there you would have interstate, and then at that point, you're starting to get into a federal construct, and at that point, you know things open up. I do -- and it's why I think we have a leading position. I do think the expertise that the Canadian LPs have will be in high demand for all the reasons that I've mentioned. There is nothing currently globally like Canada.
And while U.S. FDA and DA and other regulatory agencies don't always follow international protocols, there's no question. It's going to influence that because a strong neighbor already a lot of different interactions. And so I think there is a big advantage for those LPs that have successfully navigate them.
Michael Laver -- Piper Sandler -- Analyst
Ok. Thanks for that. And just a follow-up. You've mentioned genetics and genomics a couple of times.
Can you give us maybe a little more color on how you see Aurora differentiated or standing out there? And then how that translates into marketplace execution either with the consumer or anyone else.
Miguel Martin -- Chief Executive Officer
So, Aurora over its lifespan has acquired a significant amount of companies and resources, and with a lot of those companies has become -- has come to a very significant library of genetics and genomics. And so, like any other agricultural company, genetics have a lot to do with yields. A lot to do with the durability of the plant. A lot to do with the output.
And clearly, given the variances in how we see people use cannabis in the articulation of all those core metrics whether it's intensity or onset or offset, genetics and genomics are really important in this category like they would in most of these regulated types of categories. So as you think about that expertise and the value of that being able to leverage that in a market the size of the U.S. it becomes incredibly important. And again, it's the lifecycle of it.
It's the fact that these assets and these outputs have been tried and tested over multiple crop cycles, in multiple markets, and in different environments. And so all of those things are valuable as you get into a market the size of the U.S. where you really can't be as niches and there will be under a potential federal construct the value for large scale agriculture like you're seeing in Canada today. And so again that all play a role in how quickly and how effectively, and how thoughtfully you go to a market with the size of the U.S.
Michael Laver -- Piper Sandler -- Analyst
Ok. That's great. Thank you, very much.
Miguel Martin -- Chief Executive Officer
You're very welcome, Michael.
Operator
Our next question comes from the line of Tamy Chen with BMO. Please, proceed with your question.
Tamy Chen -- BMO Capital Markets -- Analyst
Thanks. Good morning, everyone. The first question is, I wanted to understand better the shelf with the $500 million U.S. ATM is quite significant in amount.
So I mean, how should we investors think about that. Have you taken that on so you can ride out the chop environment in Canada or is it also for how you're thinking about the U.S. you mentioned opportunistic a couple of times? I just wanted to understand that given it's a pretty sizable amount.
Miguel Martin -- Chief Executive Officer
Glen, we're taking that one.
Glen Ibbott -- Chief Financial Officer
Yes. I'll get started on that Tamy. The thing you said, it's not ATM, it's a shelf prospectus, and not just pre-qualified shares for issuance or any securities for issuance. And pretty broad, and allow us to issue debt.
It allows us to issue our shares certainly should we see an opportunity to do so. But it's not an ATM If we're to use an ATM and we have to fund a supplement to be able to do that and see that. Should we do that at some point? So this is really -- as Miguel mentioned in his remarks just the hallmark of any mature companies how do show respect qualified and available opportunistically. That's the way to think about it.
It's not with -- it's no ATM. It doesn't allow us to sell shares tomorrow under ATM unless we polish supplement.
Miguel Martin -- Chief Executive Officer
Yes, I guess to be the only thing I'd add to it. We mentioned this a bit earlier. If you look at cash burn or the cash component, which is becoming such an important metric for a lot of good reasons. On cost and cash use, we've got about $60 million in cash expenses, more on SG&A in three quarters.
We've severely reduced our capex over that time, and now we really lower our run rate really focused around maintenance capex going forward. So I think overall, the focus on cash is headed in the right direction. We look at the industry. We look at our peers.
I'd say, we're clearly well-capitalized. But I think the big thing also is the market's appreciation of business execution and rock-solid liquidity. And when we prove to investors that execute on the plan, we put forward where I really don't that's success to be overshadowed by perceived liquidity issues. And so as we move forward in the tactical plan gaining back market share and growth of that was premium segments in Canada, we really want to have those financial resources available to be opportunistic which you've mentioned.
So, I just would add that color about the importance of having both sides of it. It's really I think allowing people to uniquely focus on execution, particularly in the rec cannabis business.
Tamy Chen -- BMO Capital Markets -- Analyst
Got it. Ok. That's helpful. Thank you.
And I guess my follow-up is if you could just elaborate a bit more on what you were talking about, and shifting more production costs from fix to variable. I mean is that considering even more facility closures, and more leverage on third party supplies. Can you elaborate on what you meant by that? Thank you.
Miguel Martin -- Chief Executive Officer
Sure. Sure. I'll be happy to. I mean the base premise.
I mean if you go back to all these facilities the amount of production in Canada and a lot of ways was built to service global opportunities, and to service a market that just is bigger than it is currently there. And so I've got a long history of using variable versus fixed, and I will tell you the one thing I can predict in this category is that things are moving very quickly. And so, the hardwire yourselves to these massive fix costs not knowing exactly what the outcome is, I think is not -- doesn't best serve Aurora. Secondly, as we've all know, there was plenty of great high-quality products available particularly in Canada.
So, while we'll have to have the new GMP facility over in Denmark which is a tremendous asset to have. And clearly, there's plenty of work for that. There's nobody in Canada particularly with these large-scale facilities. So we've announced the downturn of five of them.
A couple of them already closed. And yes, we are looking at some external sources to give us greater flexibility so that we don't have to carry all those costs, and also be in a good position. This would be both in flower, and as well as a couple of other items. If you look at other businesses I've been a part of it, some might argue have been quite successful.
You don't hardwire huge fixed costs. You give yourself maximum flexibility. And then once a category really is on firm footing and you can determine exactly where it's going. I think you can make a more educated decision.
So, I'm very confident that you're going to find this to be in a strong position regardless of which way the category moves, particularly in between formats.
Operator
Our next question comes from the line of David Kideckel with ATB Capital Markets. Please, proceed with your question.
David Kideckel -- ATB Capital Markets -- Analyst
Hi. Good morning, guys.
Miguel Martin -- Chief Executive Officer
Good morning, David.
David Kideckel -- ATB Capital Markets -- Analyst
Congrats on the quarter. I want to just go down into your International Medical cannabis opportunity, a little bit more in detail. That's ok. So just to note, one of your competitors also announced and you also announced results this morning after the International Medical Cannabis component date, the sales were actually down quarter over quarter versus Aurora, your sales are up.
So my question is, given just how important this channel is. Overall, like Glen, you mentioned gross margin in particular. Do you see this trend continuing with upwards sales on the international channel specifically? And I'll just not to give that call or question some color I mean one of the comments made by the competitor was that it's a very crowded space. So just any color you can offer with not only market potential there but how is Aurora navigating the complexities associated with Medical cannabis on an international scale.
Thanks.
Miguel Martin -- Chief Executive Officer
Yes. I mean. So first and foremost, I think we're bullish. As I mentioned before, if you think about the permissive nature of the movement of legal cannabis across the globe, opportunities are more prevalent and are going to happen more frequently than the opposite.
So, I just would throw that out there as a general tailwind. Secondly, I will tell you that compliance regulatory having facilities in Europe and the navigation of specific aspects about the infrastructure that's focused on Science technology and regulation are differentiators as markets internationally are becoming more, I would guess professionalized and more sophisticated. I think companies like Aurora will be an advantage in that they can produce quality cannabis in a certain manner with a certain level of infrastructure. And so listen, we're in the early days here and I'm not here to dismiss or be critical of any of our competitors, I have great respect for them.
We like where we're at. We like the possibilities that the EU facility in Denmark provides for us. And we'd like the conversations that we're having with external partners based on our history of compliance and science-based production. And I think as long as those tailwinds continue of cannabis being permitted and being open internationally, I think what we bring to the table and continue to invest in will be a compelling argument.
Glen Ibbott -- Chief Financial Officer
Let's establish a little bit of that. And just you will see in our MD&A where we pull apart the international business. You can see the revenue is mainly generated at a flower. And there is a developing market in Germany actually quite a healthy one for attracting oils and things.
So it's important to note that the licensing that we got at our lower Nordic sold in Denmark includes oil. So, its flower and oil, and we intend to use that facility to supply the European markets in the international markets. In fact, whether it's Europe, Israel, or whatever and free up the Canadian facilities. But the oil licensing out of Nordic is important because that's an opportunity for us to grow in Europe.
In the part of the market, we haven't actually been participating in very strongly.
David Kideckel -- ATB Capital Markets -- Analyst
Got it. Ok. That's helpful. So certainly it sounds like there's a lot of room for growth there.
My follow-up question is to shifting gears altogether to beverages. I know Aurora currently does not have a presence in the beverage category, maybe that's because in the U.S. they've been a flop, but with all the technology that Aurora and others have had, we're seeing an uptake of beverages specifically in Canada. So I'm just wondering, do you have a preference, either way, moving forward as beverages category that you're looking to get into.
Thank you.
Miguel Martin -- Chief Executive Officer
Well, we do have a beverage in Canada. We have a shot which has done quite well. I mean my opinion on beverages, I guess is a couple of fold. First is in these categories, I would argue that there is not a significant advantage in being the first mover.
We've seen that in a variety of correlated categories around. I'm very respectful of what our competitors done. I think what's more important is having a strong innovation system. Can you bring high-quality products to market that meet consumer needs at a proper price point? And I believe Aurora is developing those capabilities.
And you've seen it with vapor. Secondly, if and when there was going to be an opportunity in beverage, clearly we have all of the other pieces put together and all of the plant genomics and everything we would need in order to play in that category. What I do believe though is that this category is moving so quickly that to make outsized bets and presuppose exactly where the consumer is going is a mistake. So, we are going to continue to offer a variety of consumer options, particularly in emerging categories.
And I could argue that concentrates vapor and pre-roll today have much more actionable opportunities from an economic standpoint. And if and when beverage or any other category like that emerges, we'll be there. I will also say that we see in California and Colorado, those are really bellwether states and operate about a year, 10 months to a year from a consumer standpoint ahead of where Canada's at. And if we start to see inclinations that beverage or something else is really taking off in those markets or any other bellwether market that we get consumer data on, we can quickly do it.
So I respect others making that push. We don't see it as an opportunity today, but if and when it was there we'd be there. And like I said at the beginning, these categories are not one where first-mover status matters.
Operator
Our next question comes from the line of John Zamparo with CIBC. Please, proceed with your question.
John Zamparo -- CIBC -- Analyst
Thanks. Good morning.
Miguel Martin -- Chief Executive Officer
Good morning.
John Zamparo -- CIBC -- Analyst
Good morning. The fact is you listed as being success indicators like IP science, and testing, and packaging. I guess that's how you monetize that. Does it assume a federal pathway to operate in the U.S.
and Aurora is the one executing that or you think about it as selling that expertise to local state level providers or is there an assumption of an additional equity investor partnering with Aurora? I know there's a lot of unknowns there. But I just would like to get a sense of how you think about monetizing the factors where you lead the U.S. or international competitors.
Miguel Martin -- Chief Executive Officer
Well, this is a great question. I think there is. The good news is there is a ton of different ways to do it. I mean if you look at companies like Monsanto or you look at other companies that are branded companies, there's a variety of different ways to get there.
I think the main thing to understand is at the time in which the U.S. legalizes cannabis either at the medical side or on the rec side, clearly the Canadian companies are going to have a massive head start in terms of understanding what that type of construct means. So listen, whether that means we're opportunistic through M&A, whether there's licensing, whether there's [Inaudible] all types of things. What I do know is that our continued focus and effort in being compliant and being thoughtful around the globe outside of the U.S.
puts us in a position where others are not. And I have -- listen, I have tremendous respect for the MSOS in the U.S. in what they've done. But the fact of the matter is they have not operated in the federal contract.
They've not operated in all of these different markets, and that is a different animal. And so, whether that's a partnership, whether that's a go it alone, whether that's the right things, I'm not going to stand here and presuppose what that is. But what I can say is, all the hard work that we're doing around the globe to be successful is portable. Can be plugged and played into the U.S.
and so there's no disconnect there. We don't have to take resources away from what we're doing to be more attractive to the U.S. We don't have to focus on that. So we continue to be in a good position of optionality.
And like I said, it's the Canadian LPs can have a significant set of resources that upon federal legalization of either side will be -- I would argue uniquely valuable.
John Zamparo -- CIBC -- Analyst
Ok. That's helpful. I'll pass it on. Thank you.
Miguel Martin -- Chief Executive Officer
Thank you.
Operator
Our next question comes from the line of Matt McGinley with Needham. Please, proceed with your question.
Matt McGinley -- Needham & Company -- Analyst
Thank you. Questions on the cash register. You started the second quarter with $103 million in cash and with the equity raise you did it with the cash balances that you had. I think on November 6, you had $50 million which implies you still I think had around $50 million in cash losses.
Are the 2Q cash losses still on the operating side and that the revenue isn't covering the costs or is this more related to working capital and capex.
Glen Ibbott -- Chief Financial Officer
Yes. Thanks for that. I think I mentioned in my remarks and gave just past over fairly quickly that we did have a couple of the larger annual costs in October. Including our insurance which is in excess of $10 million paid out in October.
And also our employee bonuses, which are in the same neighborhood. So we take those out of that cash burn in terms of turnout focus on operations is delivering right now.
Matt McGinley -- Needham & Company -- Analyst
Ok. Turning to your European facility. Now you noted the increase in production costs related to that the ramp of the Nordic 1 facility in Denmark. When would we expect to see that fully operational and, I guess when could that impact the Medical segment revenue and given gross margin rates are already pretty high in that segment.
Would that have a positive impact on gross margin rates or is it net initially because the U.S. gets more efficient larger Canadian operations would be offset by this smaller European operation at the gate?
Glen Ibbott -- Chief Financial Officer
So, it's operational now. I mean that's why you're seeing the ramp-up costs as they build inventory. They're simply waiting for all the licensing. All the licensing is in place and believe you'll see -- we expect to see sales from that facility in this quarter into Europe.
Into Germany, and other places. And simply just the import/export permit that is the typical process now and may take a week or two for those. So it helps. It's already though is built with a lot of similarities to our existing facilities in Canada built by the same -- we built that we retrofitted an existing facility there.
So it's a very efficient producer and operated while filming Matt Peterson who's a third-generation agricultural grower in the Netherlands and I believe is in Denmark is one of the largest tomato exporters in the area as well. So a lot of history there a great operator and so do that built in a similar method to the way we built Canada. So we expect it to be built with a high yield and a very efficient operator.
Miguel Martin -- Chief Executive Officer
I got to tell you that the other point I make there is that EU GMP is going to be an important designation for all the other markets as well. And so while it's more expensive in order there's value there. Plus also, navigating that again builds capabilities for us in other markets. Sorry, operator.
Operator
Our next question comes from the line of Owen Bennett with Jefferies. Please, proceed with your question.
Owen Bennett -- Jefferies -- Analyst
Morning, guys. Hope you're well.
Miguel Martin -- Chief Executive Officer
Good morning, Owen.
Owen Bennett -- Jefferies -- Analyst
Just one question for me on the dried flower. So sequential decline, driven by daily special. So arguably in line with a new strategy in putting less focus there. But the balance being flat would also suggest share loss continues in the over more premium brands which is not in line with the new strategy.
Ideally, we'd like to see this moving upwards. Can you maybe speak a bit more too soon? When would you expect to see share on the premium brands in flower start to pick up with the actions that you were taken? Thank you.
Miguel Martin -- Chief Executive Officer
Sure. Listen, I just got in to see. And so some of these things take a little bit longer. What I can tell you is that you're going to see a significant focus on our premium flower.
And then we have some tremendous brands as you know, Whistler saying wrap in Aurora. The Company had gone through a lot of transition. As you know in the first half of the year and there was quite a bit of interest in getting to that transition. And then to be honest that daily special lines that happened in February and March was so -- I think took everyone by surprise.
So there's a couple of things going on. First and foremost, it takes a bit to get those premium brands resettled. Secondly, we've had very substantive and good conversations with our trade partners about that. And third, we have to look at in some ways looking into better articulation on format and packaging and those things take a little bit longer than just flipping a switch and saying we care about San Raf, Whistler, and Aurora.
So, I don't want to give you timing. I think, listen, I'm impatient with all things. I think as you look at the headset and body data, we don't take away data. You'll see it.
What I can tell you is that you're not going to see competing priorities from us. You're not going to see us try to do both things exceedingly well. So I don't think we can. So our focus will be on the premium flower, and not on the deep commoditization that's happening on the low-cost flower.
And what has not been mentioned today is that you've got 1,300 stores which is an amazingly small amount of stores. And you can muscle 1,300 stores through marketing trade, marketing, and sales execution all of which I've got a long history with. And I can tell you that our focus of those resources will be on premium products and premium accretive margins such as vapor and pre-roll. So, I know that's not the exact answer from the timing standpoint you want, but you know better than anyone and have access to that data.
You'll see others do it and I'll be we'll be happy to answer it as we go along.
Owen Bennett -- Jefferies -- Analyst
Ok. Thanks very much. Very helpful.
Miguel Martin -- Chief Executive Officer
Thank you, Owen
Operator
We have reached the end of the Q&A session. Mr. Martin. I would now like to turn the floor back over to you for closing comments.
Miguel Martin -- Chief Executive Officer
Well, thank you. And I want to thank everybody for your questions. We really appreciate your interest in Aurora. While it's early days under my tenure, I'm very excited about where we're going, and I really appreciate that all of you took the time here today.
And lastly, and probably most importantly from all of us, we hope all of you are safe and healthy. And we look forward to seeing you soon in person in the future. All the best.
Operator
[Operator signoff]
Duration: 63 minutes
Call participants:
Miguel Martin -- Chief Executive Officer
Glen Ibbott -- Chief Financial Officer
Vivien Azer -- Cowen and Company -- Analyst
Pablo Zuanic -- Cantor Fitzgerald -- Analyst
Michael Laver -- Piper Sandler -- Analyst
Tamy Chen -- BMO Capital Markets -- Analyst
David Kideckel -- ATB Capital Markets -- Analyst
John Zamparo -- CIBC -- Analyst
Matt McGinley -- Needham & Company -- Analyst
Owen Bennett -- Jefferies -- Analyst
More ACB analysis
All earnings call transcripts
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
Motley Fool Transcribing has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis Inc. (NYSE: ACB) Q1 2021 Earnings Call Nov 09, 2020, 8:30 a.m. Operator [Operator signoff] Duration: 63 minutes Call participants: Miguel Martin -- Chief Executive Officer Glen Ibbott -- Chief Financial Officer Vivien Azer -- Cowen and Company -- Analyst Pablo Zuanic -- Cantor Fitzgerald -- Analyst Michael Laver -- Piper Sandler -- Analyst Tamy Chen -- BMO Capital Markets -- Analyst David Kideckel -- ATB Capital Markets -- Analyst John Zamparo -- CIBC -- Analyst Matt McGinley -- Needham & Company -- Analyst Owen Bennett -- Jefferies -- Analyst More ACB analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Listeners are reminded that certain matters discussed in today's conference call or answers that may be given to questions asked could constitute forward-looking statements that are subject to the risks and uncertainties relating to Aurora's future financial or business performance. | Operator [Operator signoff] Duration: 63 minutes Call participants: Miguel Martin -- Chief Executive Officer Glen Ibbott -- Chief Financial Officer Vivien Azer -- Cowen and Company -- Analyst Pablo Zuanic -- Cantor Fitzgerald -- Analyst Michael Laver -- Piper Sandler -- Analyst Tamy Chen -- BMO Capital Markets -- Analyst David Kideckel -- ATB Capital Markets -- Analyst John Zamparo -- CIBC -- Analyst Matt McGinley -- Needham & Company -- Analyst Owen Bennett -- Jefferies -- Analyst More ACB analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Aurora Cannabis Inc. (NYSE: ACB) Q1 2021 Earnings Call Nov 09, 2020, 8:30 a.m. The cash will ensure that we have the runway needed to complete the remaining elements of our transformation plan, execute our tactical plans to regain market share in the Canadian consumer business and the position for the rapidly changing global cannabinoid market. | Operator [Operator signoff] Duration: 63 minutes Call participants: Miguel Martin -- Chief Executive Officer Glen Ibbott -- Chief Financial Officer Vivien Azer -- Cowen and Company -- Analyst Pablo Zuanic -- Cantor Fitzgerald -- Analyst Michael Laver -- Piper Sandler -- Analyst Tamy Chen -- BMO Capital Markets -- Analyst David Kideckel -- ATB Capital Markets -- Analyst John Zamparo -- CIBC -- Analyst Matt McGinley -- Needham & Company -- Analyst Owen Bennett -- Jefferies -- Analyst More ACB analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Aurora Cannabis Inc. (NYSE: ACB) Q1 2021 Earnings Call Nov 09, 2020, 8:30 a.m. We are bullish on the long-term international market opportunity and believe that Aurora would demonstrate expertise and medical market leadership is very well positioned to continue to generate enduring shareholder value from international business as these markets develop. | Operator [Operator signoff] Duration: 63 minutes Call participants: Miguel Martin -- Chief Executive Officer Glen Ibbott -- Chief Financial Officer Vivien Azer -- Cowen and Company -- Analyst Pablo Zuanic -- Cantor Fitzgerald -- Analyst Michael Laver -- Piper Sandler -- Analyst Tamy Chen -- BMO Capital Markets -- Analyst David Kideckel -- ATB Capital Markets -- Analyst John Zamparo -- CIBC -- Analyst Matt McGinley -- Needham & Company -- Analyst Owen Bennett -- Jefferies -- Analyst More ACB analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Aurora Cannabis Inc. (NYSE: ACB) Q1 2021 Earnings Call Nov 09, 2020, 8:30 a.m. We are, therefore, much more invested in our market share within the premium and super-premium categories along with our market share of categories such as, vapor, pre-rolls, and concentrates that are margin accreted compared to our market share and a deep discount flower business. |
37138.0 | 2020-11-10 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Revance, Lipocine, Inovio | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-revance-lipocine-inovio-2020-11-10 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
The S&P 500 and the Nasdaq fell on Tuesday as excitement over signs of a first successful late-stage COVID-19 vaccine trial faded, while investors continued to pull money out of some Big Tech companies that have benefited most from the pandemic. .N
At 1:14 p.m. ET, the Dow Jones Industrial Average .DJI was up 0.53% at 29,311.6. The S&P 500 .SPX was down 0.07% at 3,547.97 and the Nasdaq Composite .IXIC was down 0.79% at 11,621.524. The top three S&P 500 .PG.INX percentage gainers: ** Walgreens Boots Alliance Inc , up 8.5 % ** Ulta Beauty Inc , up 8.1 % ** D.R. Horton Inc , up 7.5 % The top three S&P 500 .PL.INX percentage losers: ** Carnival Corp , down 12.9 % ** Norwegian Cruise Line , down 7.2 % ** HollyFrontier Corp , down 6.6 % The top three NYSE .PG.N percentage gainers: ** Revlon Inc , up 57.3 % ** Quad Graphic , up 26.2 % ** Preferred Apartment Communities Inc , up 20.6 % The top three NYSE .PL.N percentage losers: ** GasLog Partners LLP , down 33.1 % ** Aurora Cannabis , down 25.8 % ** MediaAlpha Inc , down 21.4 % The top three Nasdaq .PG.O percentage gainers: ** Greenland Technologies Holding Corp , up 155.1 % ** TWC Tech Holdings II Equity Warrant , up 100 % ** ummit Wireless Technologies Inc , up 56.1 % The top three Nasdaq .PL.O percentage losers: ** Tattooed Chef Equity Warrant , down 22.9 % ** Voyage Therapeutics Inc , down 22.5 % ** Arena Pharmaceuticals Inc , down 22.5 % ** Norwegian Cruise Line NCLH.N: down 7.2%
BUZZ-Falls on bigger-than-expected loss, weak H1 demand ** Boeing Co BA.N: up 5.6%
BUZZ-Rises on report of MAX approval happening as soon as Nov 18
** Eli Lilly LLY.N: up 3.1%
BUZZ-Up after FDA grants emergency use authorization for COVID-19 drug
** Holly Energy Partners HEP.N: up 4.6%
BUZZ-Credit Suisse raises to outperform
** FreightCar America RAIL.O: down 13.3%
BUZZ-Drops on weak results, narrowed outlook ** Xperi Holding Corp XPER.O: up 23.3%
BUZZ-Enters patent agreement with Comcast ** Smart Sand Inc SND.O: up 5.6%
BUZZ-Gains as cost cuts drive surprise profit ** Novavax Inc NVAX.O: down 13.1%
BUZZ-Slips after at-the-market share sale agreement ** Peloton Interactive Inc PTON.O: up 5.7%
BUZZ-Rises on partnership with Beyonce ** D.R. Horton Inc DHI.N: up 7.5%
BUZZ-Up as FY 2021 sales forecast, results top estimates ** Viper Energy Partners LP VNOM.O: up 12.7%
BUZZ-Rises on 'surprise' buyback program ** Kraft Heinz Co KHC.O: down 1.0%
BUZZ-Slips as 3G Capital cuts stake ** Amazon.com Inc AMZN.O: down 3.0%
BUZZ-Falls as EU charges co of competition distortion in online retail ** American Airlines Group Inc AAL.O: down 3.5%
BUZZ-Slips on stock offering ** Mirati Therapeutics Inc MRTX.O: down 2.5%
BUZZ-Guggenheim says bullish scenario is priced into stock, downgrades ** Papa John's International Inc PZZA.O: up 3%
BUZZ-DB sees potential for sales growth next year, raises to 'buy' ** Simon Property Group Inc SPG.N: up 2.2%
BUZZ-Street View: A vaccine to power Simon Property's rebound ** CureVac NV CVAC.O: up 5.6%
BUZZ-Jumps on positive data from early-stage COVID-19 vaccine trial ** Ulta Beauty Inc ULTA.O: up 2.2%
BUZZ-Rises on partnership with Target ** Square Inc SQ.N: down 3.9%
BUZZ-Dips after $1 bln convertible debt raise ** TherapeuticsMD Inc TXMD.O: down 10.2%
BUZZ-Falls on $30 mln equity raise ** AnPac Bio-Medical Science Co Ltd ANPC.O: up 2.9%
BUZZ-Rises as lab gets FDA approval to start COVID-19 testing ** Carnival Corp CCL.N: down 12.9%
BUZZ-Drops on planned $1.5 bln equity raise; peers sag
** Arena Pharmaceuticals Inc ARNA.O: down 22.5%
BUZZ-Plunges after lead drug fails eczema trial ** Kansas City Southern KSU.N: up 1.9%
BUZZ-Up on share buyback program, dividend raise ** Beyond Meat Inc BYND.O: down 17.1%
BUZZ-Set for worst day in over a year on quarterly sales shock ** Voyager Therapeutics Inc VYGR.O: down 22.5%
BUZZ-Falls on delayed resumption of Parkinson's disease trial ** Walt Disney Co DIS.N: down 1.7%
BUZZ-Unsure about California theme park reopening, shares fall ** AngloGold Ashanti Ltd AU.N: down 2.8%
BUZZ-Down on suspension of operations at Argentinian mine ** Lipocine Inc LPCN.O: down 3.5%
BUZZ-Falls as quarterly loss widens ** Revance Therapeutics Inc RVNC.O: down 9.6%
BUZZ-Falls on likely delay in experimental injection approval ** AerCap Holdings nv AER.N: down 2.1%
BUZZ-Slips on Q3 miss, MAX order cancellations
** Inovio Pharmaceuticals Inc INO.O: up 28.7%
BUZZ-Expects FDA decision on vaccine trial in Nov, shares soar
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 0.62%
Consumer Discretionary
.SPLRCD
down 0.94%
Consumer Staples
.SPLRCS
up 1.76%
Energy
.SPNY
up 0.66%
Financial
.SPSY
up 0.26%
Health
.SPXHC
up 0.18%
Industrial
.SPLRCI
up 1.52%
Information Technology
.SPLRCT
down 1.38%
Materials
.SPLRCM
up 0.79%
Real Estate
.SPLRCR
up 0.31%
Utilities
.SPLRCU
up 0.97%
(Compiled by Eva Mathews in Bengaluru)
((eva.mathews@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The S&P 500 and the Nasdaq fell on Tuesday as excitement over signs of a first successful late-stage COVID-19 vaccine trial faded, while investors continued to pull money out of some Big Tech companies that have benefited most from the pandemic. Horton Inc , up 7.5 % The top three S&P 500 .PL.INX percentage losers: ** Carnival Corp , down 12.9 % ** Norwegian Cruise Line , down 7.2 % ** HollyFrontier Corp , down 6.6 % The top three NYSE .PG.N percentage gainers: ** Revlon Inc , up 57.3 % ** Quad Graphic , up 26.2 % ** Preferred Apartment Communities Inc , up 20.6 % The top three NYSE .PL.N percentage losers: ** GasLog Partners LLP , down 33.1 % ** Aurora Cannabis , down 25.8 % ** MediaAlpha Inc , down 21.4 % The top three Nasdaq .PG.O percentage gainers: ** Greenland Technologies Holding Corp , up 155.1 % ** TWC Tech Holdings II Equity Warrant , up 100 % ** ummit Wireless Technologies Inc , up 56.1 % The top three Nasdaq .PL.O percentage losers: ** Tattooed Chef Equity Warrant , down 22.9 % ** Voyage Therapeutics Inc , down 22.5 % ** Arena Pharmaceuticals Inc , down 22.5 % ** Norwegian Cruise Line NCLH.N: down 7.2% BUZZ-Falls on bigger-than-expected loss, weak H1 demand ** Boeing Co BA.N: up 5.6% BUZZ-Rises on report of MAX approval happening as soon as Nov 18 ** Eli Lilly LLY.N: up 3.1% BUZZ-Up after FDA grants emergency use authorization for COVID-19 drug ** Holly Energy Partners HEP.N: up 4.6% BUZZ-Credit Suisse raises to outperform ** FreightCar America RAIL.O: down 13.3% BUZZ-Drops on weak results, narrowed outlook ** Xperi Holding Corp XPER.O: up 23.3% BUZZ-Enters patent agreement with Comcast ** Smart Sand Inc SND.O: up 5.6% BUZZ-Gains as cost cuts drive surprise profit ** Novavax Inc NVAX.O: down 13.1% BUZZ-Slips after at-the-market share sale agreement ** Peloton Interactive Inc PTON.O: up 5.7% BUZZ-Rises on partnership with Beyonce ** D.R. Horton Inc DHI.N: up 7.5% BUZZ-Up as FY 2021 sales forecast, results top estimates ** Viper Energy Partners LP VNOM.O: up 12.7% BUZZ-Rises on 'surprise' buyback program ** Kraft Heinz Co KHC.O: down 1.0% BUZZ-Slips as 3G Capital cuts stake ** Amazon.com Inc AMZN.O: down 3.0% BUZZ-Falls as EU charges co of competition distortion in online retail ** American Airlines Group Inc AAL.O: down 3.5% BUZZ-Slips on stock offering ** Mirati Therapeutics Inc MRTX.O: down 2.5% BUZZ-Guggenheim says bullish scenario is priced into stock, downgrades ** Papa John's International Inc PZZA.O: up 3% BUZZ-DB sees potential for sales growth next year, raises to 'buy' ** Simon Property Group Inc SPG.N: up 2.2% BUZZ-Street View: A vaccine to power Simon Property's rebound ** CureVac NV CVAC.O: up 5.6% BUZZ-Jumps on positive data from early-stage COVID-19 vaccine trial ** Ulta Beauty Inc ULTA.O: up 2.2% BUZZ-Rises on partnership with Target ** Square Inc SQ.N: down 3.9% BUZZ-Dips after $1 bln convertible debt raise ** TherapeuticsMD Inc TXMD.O: down 10.2% BUZZ-Falls on $30 mln equity raise ** AnPac Bio-Medical Science Co Ltd ANPC.O: up 2.9% BUZZ-Rises as lab gets FDA approval to start COVID-19 testing ** Carnival Corp CCL.N: down 12.9% BUZZ-Drops on planned $1.5 bln equity raise; peers sag ** Arena Pharmaceuticals Inc ARNA.O: down 22.5% BUZZ-Plunges after lead drug fails eczema trial ** Kansas City Southern KSU.N: up 1.9% BUZZ-Up on share buyback program, dividend raise ** Beyond Meat Inc BYND.O: down 17.1% BUZZ-Set for worst day in over a year on quarterly sales shock ** Voyager Therapeutics Inc VYGR.O: down 22.5% BUZZ-Falls on delayed resumption of Parkinson's disease trial ** Walt Disney Co DIS.N: down 1.7% BUZZ-Unsure about California theme park reopening, shares fall ** AngloGold Ashanti Ltd AU.N: down 2.8% BUZZ-Down on suspension of operations at Argentinian mine ** Lipocine Inc LPCN.O: down 3.5% BUZZ-Falls as quarterly loss widens ** Revance Therapeutics Inc RVNC.O: down 9.6% BUZZ-Falls on likely delay in experimental injection approval ** AerCap Holdings nv AER.N: down 2.1% BUZZ-Slips on Q3 miss, MAX order cancellations ** Inovio Pharmaceuticals Inc INO.O: up 28.7% BUZZ-Expects FDA decision on vaccine trial in Nov, shares soar The 11 major S&P 500 sectors: Communication Services | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The S&P 500 and the Nasdaq fell on Tuesday as excitement over signs of a first successful late-stage COVID-19 vaccine trial faded, while investors continued to pull money out of some Big Tech companies that have benefited most from the pandemic. Horton Inc , up 7.5 % The top three S&P 500 .PL.INX percentage losers: ** Carnival Corp , down 12.9 % ** Norwegian Cruise Line , down 7.2 % ** HollyFrontier Corp , down 6.6 % The top three NYSE .PG.N percentage gainers: ** Revlon Inc , up 57.3 % ** Quad Graphic , up 26.2 % ** Preferred Apartment Communities Inc , up 20.6 % The top three NYSE .PL.N percentage losers: ** GasLog Partners LLP , down 33.1 % ** Aurora Cannabis , down 25.8 % ** MediaAlpha Inc , down 21.4 % The top three Nasdaq .PG.O percentage gainers: ** Greenland Technologies Holding Corp , up 155.1 % ** TWC Tech Holdings II Equity Warrant , up 100 % ** ummit Wireless Technologies Inc , up 56.1 % The top three Nasdaq .PL.O percentage losers: ** Tattooed Chef Equity Warrant , down 22.9 % ** Voyage Therapeutics Inc , down 22.5 % ** Arena Pharmaceuticals Inc , down 22.5 % ** Norwegian Cruise Line NCLH.N: down 7.2% BUZZ-Falls on bigger-than-expected loss, weak H1 demand ** Boeing Co BA.N: up 5.6% BUZZ-Rises on report of MAX approval happening as soon as Nov 18 ** Eli Lilly LLY.N: up 3.1% BUZZ-Up after FDA grants emergency use authorization for COVID-19 drug ** Holly Energy Partners HEP.N: up 4.6% BUZZ-Credit Suisse raises to outperform ** FreightCar America RAIL.O: down 13.3% BUZZ-Drops on weak results, narrowed outlook ** Xperi Holding Corp XPER.O: up 23.3% BUZZ-Enters patent agreement with Comcast ** Smart Sand Inc SND.O: up 5.6% BUZZ-Gains as cost cuts drive surprise profit ** Novavax Inc NVAX.O: down 13.1% BUZZ-Slips after at-the-market share sale agreement ** Peloton Interactive Inc PTON.O: up 5.7% BUZZ-Rises on partnership with Beyonce ** D.R. Horton Inc DHI.N: up 7.5% BUZZ-Up as FY 2021 sales forecast, results top estimates ** Viper Energy Partners LP VNOM.O: up 12.7% BUZZ-Rises on 'surprise' buyback program ** Kraft Heinz Co KHC.O: down 1.0% BUZZ-Slips as 3G Capital cuts stake ** Amazon.com Inc AMZN.O: down 3.0% BUZZ-Falls as EU charges co of competition distortion in online retail ** American Airlines Group Inc AAL.O: down 3.5% BUZZ-Slips on stock offering ** Mirati Therapeutics Inc MRTX.O: down 2.5% BUZZ-Guggenheim says bullish scenario is priced into stock, downgrades ** Papa John's International Inc PZZA.O: up 3% BUZZ-DB sees potential for sales growth next year, raises to 'buy' ** Simon Property Group Inc SPG.N: up 2.2% BUZZ-Street View: A vaccine to power Simon Property's rebound ** CureVac NV CVAC.O: up 5.6% BUZZ-Jumps on positive data from early-stage COVID-19 vaccine trial ** Ulta Beauty Inc ULTA.O: up 2.2% BUZZ-Rises on partnership with Target ** Square Inc SQ.N: down 3.9% BUZZ-Dips after $1 bln convertible debt raise ** TherapeuticsMD Inc TXMD.O: down 10.2% BUZZ-Falls on $30 mln equity raise ** AnPac Bio-Medical Science Co Ltd ANPC.O: up 2.9% BUZZ-Rises as lab gets FDA approval to start COVID-19 testing ** Carnival Corp CCL.N: down 12.9% BUZZ-Drops on planned $1.5 bln equity raise; peers sag ** Arena Pharmaceuticals Inc ARNA.O: down 22.5% BUZZ-Plunges after lead drug fails eczema trial ** Kansas City Southern KSU.N: up 1.9% BUZZ-Up on share buyback program, dividend raise ** Beyond Meat Inc BYND.O: down 17.1% BUZZ-Set for worst day in over a year on quarterly sales shock ** Voyager Therapeutics Inc VYGR.O: down 22.5% BUZZ-Falls on delayed resumption of Parkinson's disease trial ** Walt Disney Co DIS.N: down 1.7% BUZZ-Unsure about California theme park reopening, shares fall ** AngloGold Ashanti Ltd AU.N: down 2.8% BUZZ-Down on suspension of operations at Argentinian mine ** Lipocine Inc LPCN.O: down 3.5% BUZZ-Falls as quarterly loss widens ** Revance Therapeutics Inc RVNC.O: down 9.6% BUZZ-Falls on likely delay in experimental injection approval ** AerCap Holdings nv AER.N: down 2.1% BUZZ-Slips on Q3 miss, MAX order cancellations ** Inovio Pharmaceuticals Inc INO.O: up 28.7% BUZZ-Expects FDA decision on vaccine trial in Nov, shares soar The 11 major S&P 500 sectors: Communication Services | ET, the Dow Jones Industrial Average .DJI was up 0.53% at 29,311.6. Horton Inc , up 7.5 % The top three S&P 500 .PL.INX percentage losers: ** Carnival Corp , down 12.9 % ** Norwegian Cruise Line , down 7.2 % ** HollyFrontier Corp , down 6.6 % The top three NYSE .PG.N percentage gainers: ** Revlon Inc , up 57.3 % ** Quad Graphic , up 26.2 % ** Preferred Apartment Communities Inc , up 20.6 % The top three NYSE .PL.N percentage losers: ** GasLog Partners LLP , down 33.1 % ** Aurora Cannabis , down 25.8 % ** MediaAlpha Inc , down 21.4 % The top three Nasdaq .PG.O percentage gainers: ** Greenland Technologies Holding Corp , up 155.1 % ** TWC Tech Holdings II Equity Warrant , up 100 % ** ummit Wireless Technologies Inc , up 56.1 % The top three Nasdaq .PL.O percentage losers: ** Tattooed Chef Equity Warrant , down 22.9 % ** Voyage Therapeutics Inc , down 22.5 % ** Arena Pharmaceuticals Inc , down 22.5 % ** Norwegian Cruise Line NCLH.N: down 7.2% BUZZ-Falls on bigger-than-expected loss, weak H1 demand ** Boeing Co BA.N: up 5.6% BUZZ-Rises on report of MAX approval happening as soon as Nov 18 ** Eli Lilly LLY.N: up 3.1% BUZZ-Up after FDA grants emergency use authorization for COVID-19 drug ** Holly Energy Partners HEP.N: up 4.6% BUZZ-Credit Suisse raises to outperform ** FreightCar America RAIL.O: down 13.3% BUZZ-Drops on weak results, narrowed outlook ** Xperi Holding Corp XPER.O: up 23.3% BUZZ-Enters patent agreement with Comcast ** Smart Sand Inc SND.O: up 5.6% BUZZ-Gains as cost cuts drive surprise profit ** Novavax Inc NVAX.O: down 13.1% BUZZ-Slips after at-the-market share sale agreement ** Peloton Interactive Inc PTON.O: up 5.7% BUZZ-Rises on partnership with Beyonce ** D.R. Horton Inc DHI.N: up 7.5% BUZZ-Up as FY 2021 sales forecast, results top estimates ** Viper Energy Partners LP VNOM.O: up 12.7% BUZZ-Rises on 'surprise' buyback program ** Kraft Heinz Co KHC.O: down 1.0% BUZZ-Slips as 3G Capital cuts stake ** Amazon.com Inc AMZN.O: down 3.0% BUZZ-Falls as EU charges co of competition distortion in online retail ** American Airlines Group Inc AAL.O: down 3.5% BUZZ-Slips on stock offering ** Mirati Therapeutics Inc MRTX.O: down 2.5% BUZZ-Guggenheim says bullish scenario is priced into stock, downgrades ** Papa John's International Inc PZZA.O: up 3% BUZZ-DB sees potential for sales growth next year, raises to 'buy' ** Simon Property Group Inc SPG.N: up 2.2% BUZZ-Street View: A vaccine to power Simon Property's rebound ** CureVac NV CVAC.O: up 5.6% BUZZ-Jumps on positive data from early-stage COVID-19 vaccine trial ** Ulta Beauty Inc ULTA.O: up 2.2% BUZZ-Rises on partnership with Target ** Square Inc SQ.N: down 3.9% BUZZ-Dips after $1 bln convertible debt raise ** TherapeuticsMD Inc TXMD.O: down 10.2% BUZZ-Falls on $30 mln equity raise ** AnPac Bio-Medical Science Co Ltd ANPC.O: up 2.9% BUZZ-Rises as lab gets FDA approval to start COVID-19 testing ** Carnival Corp CCL.N: down 12.9% BUZZ-Drops on planned $1.5 bln equity raise; peers sag ** Arena Pharmaceuticals Inc ARNA.O: down 22.5% BUZZ-Plunges after lead drug fails eczema trial ** Kansas City Southern KSU.N: up 1.9% BUZZ-Up on share buyback program, dividend raise ** Beyond Meat Inc BYND.O: down 17.1% BUZZ-Set for worst day in over a year on quarterly sales shock ** Voyager Therapeutics Inc VYGR.O: down 22.5% BUZZ-Falls on delayed resumption of Parkinson's disease trial ** Walt Disney Co DIS.N: down 1.7% BUZZ-Unsure about California theme park reopening, shares fall ** AngloGold Ashanti Ltd AU.N: down 2.8% BUZZ-Down on suspension of operations at Argentinian mine ** Lipocine Inc LPCN.O: down 3.5% BUZZ-Falls as quarterly loss widens ** Revance Therapeutics Inc RVNC.O: down 9.6% BUZZ-Falls on likely delay in experimental injection approval ** AerCap Holdings nv AER.N: down 2.1% BUZZ-Slips on Q3 miss, MAX order cancellations ** Inovio Pharmaceuticals Inc INO.O: up 28.7% BUZZ-Expects FDA decision on vaccine trial in Nov, shares soar The 11 major S&P 500 sectors: Communication Services | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The S&P 500 and the Nasdaq fell on Tuesday as excitement over signs of a first successful late-stage COVID-19 vaccine trial faded, while investors continued to pull money out of some Big Tech companies that have benefited most from the pandemic. ET, the Dow Jones Industrial Average .DJI was up 0.53% at 29,311.6. Horton Inc , up 7.5 % The top three S&P 500 .PL.INX percentage losers: ** Carnival Corp , down 12.9 % ** Norwegian Cruise Line , down 7.2 % ** HollyFrontier Corp , down 6.6 % The top three NYSE .PG.N percentage gainers: ** Revlon Inc , up 57.3 % ** Quad Graphic , up 26.2 % ** Preferred Apartment Communities Inc , up 20.6 % The top three NYSE .PL.N percentage losers: ** GasLog Partners LLP , down 33.1 % ** Aurora Cannabis , down 25.8 % ** MediaAlpha Inc , down 21.4 % The top three Nasdaq .PG.O percentage gainers: ** Greenland Technologies Holding Corp , up 155.1 % ** TWC Tech Holdings II Equity Warrant , up 100 % ** ummit Wireless Technologies Inc , up 56.1 % The top three Nasdaq .PL.O percentage losers: ** Tattooed Chef Equity Warrant , down 22.9 % ** Voyage Therapeutics Inc , down 22.5 % ** Arena Pharmaceuticals Inc , down 22.5 % ** Norwegian Cruise Line NCLH.N: down 7.2% BUZZ-Falls on bigger-than-expected loss, weak H1 demand ** Boeing Co BA.N: up 5.6% BUZZ-Rises on report of MAX approval happening as soon as Nov 18 ** Eli Lilly LLY.N: up 3.1% BUZZ-Up after FDA grants emergency use authorization for COVID-19 drug ** Holly Energy Partners HEP.N: up 4.6% BUZZ-Credit Suisse raises to outperform ** FreightCar America RAIL.O: down 13.3% BUZZ-Drops on weak results, narrowed outlook ** Xperi Holding Corp XPER.O: up 23.3% BUZZ-Enters patent agreement with Comcast ** Smart Sand Inc SND.O: up 5.6% BUZZ-Gains as cost cuts drive surprise profit ** Novavax Inc NVAX.O: down 13.1% BUZZ-Slips after at-the-market share sale agreement ** Peloton Interactive Inc PTON.O: up 5.7% BUZZ-Rises on partnership with Beyonce ** D.R. |
37139.0 | 2020-11-10 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Peloton, Beyond Meat, Voyager Therapeutics | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-peloton-beyond-meat-voyager-therapeutics-2020-11-10 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
The S&P 500 and the Nasdaq dropped on Tuesday as excitement over signs of a first successful late-stage COVID-19 vaccine trial faded, while investors continued to pull money out of some Big Tech companies that have benefited most from the pandemic. .N
At 11:51 ET, the Dow Jones Industrial Average .DJI was up 0.56% at 29,322.64. The S&P 500 .SPX was down 0.42% at 3,535.43 and the Nasdaq Composite .IXIC was down 1.35% at 11,555.711. The top three S&P 500 .PG.INX percentage gainers: ** Walgreens Boots Alliance Inc WBA.O, up 8.1% ** Ulta Beauty Inc ULTA.O, up 6.8% ** Howmet Aerospace Inc HWM.N, up 6.7% The top three S&P 500 .PL.INX percentage losers: ** Carnival Corp CCL.N, down 10.8% ** Norwegian Cruise Line NCLH.N, down 6.5% ** Paycom Software Inc PAYC.N, down 6% The top three NYSE .PG.N percentage gainers: ** Boqii Holding Ltd BQ.N, up 20.7% ** Preferred Apartment Communities Inc APTS.N, up 18.6% ** Revlon Inc REV.N, up 17.9% The top three NYSE .PL.N percentage losers: ** GasLog Partners LLP GLOP.N, down 31.1% ** Ashford Hospitality Trust Inc AHT.N, down 22% ** Aurora Cannabis Inc ACB.N, down 21.9% The top three Nasdaq .PG.O percentage gainers: ** Greenland Technologies Holdings Corp GTEC.O, up 271.3% ** TWC Tech Holdings II Equity Warrant TWCTW.O, up 100% ** Summit Wireless Technologies Inc WISA.O, up 73.2% The top three Nasdaq .PL.O percentage losers: ** Arena Pharmaceuticals Inc ARNA.O, down 27.3% ** Praxis Precision Medicines Inc PRAX.O, down 24.5% ** Kandi Technologies Group Inc KNDI.O, down 22.4% ** Norwegian Cruise Line NCLH.N: down 6.5%
BUZZ-Falls on bigger-than-expected loss, weak H1 demand ** Boeing Co BA.N: up 6.6%
BUZZ-Rises on report of MAX approval happening as soon as Nov. 18
** Eli Lilly LLY.N: up 3.7%
BUZZ-Up after FDA grants emergency use authorization for COVID-19 drug
** Holly Energy Partners HEP.N: up 4.2%
BUZZ-Credit Suisse raises to outperform
** FreightCar America RAIL.O: down 12.1%
BUZZ-Drops on weak results, narrowed outlook ** Xperi Holding Corp XPER.O: up 23.5%
BUZZ-Enters patent agreement with Comcast
** Smart Sand Inc SND.O: up 3.1%
BUZZ-Gains as cost cuts drive surprise profit ** Novavax Inc NVAX.O: down 14.0%
BUZZ-Slips after at-the-market share sale agreement ** Peloton Interactive Inc PTON.O: up 6.3%
BUZZ-Rises on partnership with Beyonce ** D.R. Horton Inc DHI.N: up 6.6%
BUZZ-Up as FY 2021 sales forecast, results top estimates ** Viper Energy Partners LP VNOM.O: up 8.3%
BUZZ-Rises on 'surprise' buyback program ** Kraft Heinz Co KHC.O: down 1.7%
BUZZ-Slips as 3G Capital cuts stake ** Amazon.com Inc AMZN.O: down 2.4%
BUZZ-Falls as EU charges co of competition distortion in online retail ** American Airlines Group Inc AAL.O: down 3.9%
BUZZ-Slips on stock offering ** Mirati Therapeutics Inc MRTX.O: down 4.3%
BUZZ-Guggenheim says bullish scenario is priced into stock, downgrades ** Papa John's International Inc PZZA.O: up 2.9%
BUZZ-DB sees potential for sales growth next year, raises to 'buy' ** CureVac NV CVAC.O: up 4.3%
BUZZ-Jumps on positive data from early-stage COVID-19 vaccine trial ** Ulta Beauty Inc ULTA.O: up 1.2%
BUZZ-Rises on partnership with Target ** Square Inc SQ.N: down 3.4%
BUZZ-Dips after $1 bln convertible debt raise ** TherapeuticsMD Inc TXMD.O: down 9.2%
BUZZ-Falls on $30 mln equity raise ** Evergy Inc EVRG.N: up 1.5%
BUZZ-Gains as Elliott seeks restart of deal talks with NextEra ** Carnival Corp CCL.N: down 10.8%
BUZZ-Drops on planned $1.5 bln equity raise; peers sag
** Arena Pharmaceuticals Inc ARNA.O: down 27.3%
BUZZ-Plunges after lead drug fails eczema trial ** JPMorgan Chase & Co JPM.N: down 0.8% ** Bank of America BAC.N: down 0.9% ** Wells Fargo AND Co WFC.N: down 1.0% ** Goldman Sachs Group GS.N: down 0.7% ** Morgan Stanley MS.N: down 1.1% ** Citigroup Inc C.N: up 0.6%
BUZZ-U.S. big banks serve up mixed bag as vaccine cheer fades ** Beyond Meat Inc BYND.O: down 20.2%
BUZZ-Set for worst day in over a year on quarterly sales shock ** Voyager Therapeutics Inc VYGR.O: down 22.1%
BUZZ-Falls on delayed resumption of Parkinson's disease trial
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 0.64%
Consumer Discretionary
.SPLRCD
down 0.70%
Consumer Staples
.SPLRCS
up 1.35%
Energy
.SPNY
up 0.79%
Financial
.SPSY
down 0.06%
Health
.SPXHC
down 0.10%
Industrial
.SPLRCI
up 1.80%
Information Technology
.SPLRCT
down 1.13%
Materials
.SPLRCM
up 0.74%
Real Estate
.SPLRCR
down 0.04%
Utilities
.SPLRCU
up 0.63%
(Compiled by Eva Mathews in Bengaluru)
((eva.mathews@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Walgreens Boots Alliance Inc WBA.O, up 8.1% ** Ulta Beauty Inc ULTA.O, up 6.8% ** Howmet Aerospace Inc HWM.N, up 6.7% The top three S&P 500 .PL.INX percentage losers: ** Carnival Corp CCL.N, down 10.8% ** Norwegian Cruise Line NCLH.N, down 6.5% ** Paycom Software Inc PAYC.N, down 6% The top three NYSE .PG.N percentage gainers: ** Boqii Holding Ltd BQ.N, up 20.7% ** Preferred Apartment Communities Inc APTS.N, up 18.6% ** Revlon Inc REV.N, up 17.9% The top three NYSE .PL.N percentage losers: ** GasLog Partners LLP GLOP.N, down 31.1% ** Ashford Hospitality Trust Inc AHT.N, down 22% ** Aurora Cannabis Inc ACB.N, down 21.9% The top three Nasdaq .PG.O percentage gainers: ** Greenland Technologies Holdings Corp GTEC.O, up 271.3% ** TWC Tech Holdings II Equity Warrant TWCTW.O, up 100% ** Summit Wireless Technologies Inc WISA.O, up 73.2% The top three Nasdaq .PL.O percentage losers: ** Arena Pharmaceuticals Inc ARNA.O, down 27.3% ** Praxis Precision Medicines Inc PRAX.O, down 24.5% ** Kandi Technologies Group Inc KNDI.O, down 22.4% ** Norwegian Cruise Line NCLH.N: down 6.5% BUZZ-Falls on bigger-than-expected loss, weak H1 demand ** Boeing Co BA.N: up 6.6% BUZZ-Rises on report of MAX approval happening as soon as Nov. 18 ** Eli Lilly LLY.N: up 3.7% BUZZ-Up after FDA grants emergency use authorization for COVID-19 drug ** Holly Energy Partners HEP.N: up 4.2% BUZZ-Credit Suisse raises to outperform ** FreightCar America RAIL.O: down 12.1% BUZZ-Drops on weak results, narrowed outlook ** Xperi Holding Corp XPER.O: up 23.5% BUZZ-Enters patent agreement with Comcast ** Smart Sand Inc SND.O: up 3.1% BUZZ-Gains as cost cuts drive surprise profit ** Novavax Inc NVAX.O: down 14.0% BUZZ-Slips after at-the-market share sale agreement ** Peloton Interactive Inc PTON.O: up 6.3% BUZZ-Rises on partnership with Beyonce ** D.R. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The S&P 500 and the Nasdaq dropped on Tuesday as excitement over signs of a first successful late-stage COVID-19 vaccine trial faded, while investors continued to pull money out of some Big Tech companies that have benefited most from the pandemic. Horton Inc DHI.N: up 6.6% BUZZ-Up as FY 2021 sales forecast, results top estimates ** Viper Energy Partners LP VNOM.O: up 8.3% BUZZ-Rises on 'surprise' buyback program ** Kraft Heinz Co KHC.O: down 1.7% BUZZ-Slips as 3G Capital cuts stake ** Amazon.com Inc AMZN.O: down 2.4% BUZZ-Falls as EU charges co of competition distortion in online retail ** American Airlines Group Inc AAL.O: down 3.9% BUZZ-Slips on stock offering ** Mirati Therapeutics Inc MRTX.O: down 4.3% BUZZ-Guggenheim says bullish scenario is priced into stock, downgrades ** Papa John's International Inc PZZA.O: up 2.9% BUZZ-DB sees potential for sales growth next year, raises to 'buy' ** CureVac NV CVAC.O: up 4.3% BUZZ-Jumps on positive data from early-stage COVID-19 vaccine trial ** Ulta Beauty Inc ULTA.O: up 1.2% BUZZ-Rises on partnership with Target ** Square Inc SQ.N: down 3.4% BUZZ-Dips after $1 bln convertible debt raise ** TherapeuticsMD Inc TXMD.O: down 9.2% BUZZ-Falls on $30 mln equity raise ** Evergy Inc EVRG.N: up 1.5% BUZZ-Gains as Elliott seeks restart of deal talks with NextEra ** Carnival Corp CCL.N: down 10.8% BUZZ-Drops on planned $1.5 bln equity raise; peers sag ** Arena Pharmaceuticals Inc ARNA.O: down 27.3% BUZZ-Plunges after lead drug fails eczema trial ** JPMorgan Chase & Co JPM.N: down 0.8% ** Bank of America BAC.N: down 0.9% ** Wells Fargo AND Co WFC.N: down 1.0% ** Goldman Sachs Group GS.N: down 0.7% ** Morgan Stanley MS.N: down 1.1% ** Citigroup Inc C.N: up 0.6% BUZZ-U.S. big banks serve up mixed bag as vaccine cheer fades ** Beyond Meat Inc BYND.O: down 20.2% BUZZ-Set for worst day in over a year on quarterly sales shock ** Voyager Therapeutics Inc VYGR.O: down 22.1% BUZZ-Falls on delayed resumption of Parkinson's disease trial The 11 major S&P 500 sectors: Communication Services | The top three S&P 500 .PG.INX percentage gainers: ** Walgreens Boots Alliance Inc WBA.O, up 8.1% ** Ulta Beauty Inc ULTA.O, up 6.8% ** Howmet Aerospace Inc HWM.N, up 6.7% The top three S&P 500 .PL.INX percentage losers: ** Carnival Corp CCL.N, down 10.8% ** Norwegian Cruise Line NCLH.N, down 6.5% ** Paycom Software Inc PAYC.N, down 6% The top three NYSE .PG.N percentage gainers: ** Boqii Holding Ltd BQ.N, up 20.7% ** Preferred Apartment Communities Inc APTS.N, up 18.6% ** Revlon Inc REV.N, up 17.9% The top three NYSE .PL.N percentage losers: ** GasLog Partners LLP GLOP.N, down 31.1% ** Ashford Hospitality Trust Inc AHT.N, down 22% ** Aurora Cannabis Inc ACB.N, down 21.9% The top three Nasdaq .PG.O percentage gainers: ** Greenland Technologies Holdings Corp GTEC.O, up 271.3% ** TWC Tech Holdings II Equity Warrant TWCTW.O, up 100% ** Summit Wireless Technologies Inc WISA.O, up 73.2% The top three Nasdaq .PL.O percentage losers: ** Arena Pharmaceuticals Inc ARNA.O, down 27.3% ** Praxis Precision Medicines Inc PRAX.O, down 24.5% ** Kandi Technologies Group Inc KNDI.O, down 22.4% ** Norwegian Cruise Line NCLH.N: down 6.5% BUZZ-Falls on bigger-than-expected loss, weak H1 demand ** Boeing Co BA.N: up 6.6% BUZZ-Rises on report of MAX approval happening as soon as Nov. 18 ** Eli Lilly LLY.N: up 3.7% BUZZ-Up after FDA grants emergency use authorization for COVID-19 drug ** Holly Energy Partners HEP.N: up 4.2% BUZZ-Credit Suisse raises to outperform ** FreightCar America RAIL.O: down 12.1% BUZZ-Drops on weak results, narrowed outlook ** Xperi Holding Corp XPER.O: up 23.5% BUZZ-Enters patent agreement with Comcast ** Smart Sand Inc SND.O: up 3.1% BUZZ-Gains as cost cuts drive surprise profit ** Novavax Inc NVAX.O: down 14.0% BUZZ-Slips after at-the-market share sale agreement ** Peloton Interactive Inc PTON.O: up 6.3% BUZZ-Rises on partnership with Beyonce ** D.R. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The S&P 500 and the Nasdaq dropped on Tuesday as excitement over signs of a first successful late-stage COVID-19 vaccine trial faded, while investors continued to pull money out of some Big Tech companies that have benefited most from the pandemic. Horton Inc DHI.N: up 6.6% BUZZ-Up as FY 2021 sales forecast, results top estimates ** Viper Energy Partners LP VNOM.O: up 8.3% BUZZ-Rises on 'surprise' buyback program ** Kraft Heinz Co KHC.O: down 1.7% BUZZ-Slips as 3G Capital cuts stake ** Amazon.com Inc AMZN.O: down 2.4% BUZZ-Falls as EU charges co of competition distortion in online retail ** American Airlines Group Inc AAL.O: down 3.9% BUZZ-Slips on stock offering ** Mirati Therapeutics Inc MRTX.O: down 4.3% BUZZ-Guggenheim says bullish scenario is priced into stock, downgrades ** Papa John's International Inc PZZA.O: up 2.9% BUZZ-DB sees potential for sales growth next year, raises to 'buy' ** CureVac NV CVAC.O: up 4.3% BUZZ-Jumps on positive data from early-stage COVID-19 vaccine trial ** Ulta Beauty Inc ULTA.O: up 1.2% BUZZ-Rises on partnership with Target ** Square Inc SQ.N: down 3.4% BUZZ-Dips after $1 bln convertible debt raise ** TherapeuticsMD Inc TXMD.O: down 9.2% BUZZ-Falls on $30 mln equity raise ** Evergy Inc EVRG.N: up 1.5% BUZZ-Gains as Elliott seeks restart of deal talks with NextEra ** Carnival Corp CCL.N: down 10.8% BUZZ-Drops on planned $1.5 bln equity raise; peers sag ** Arena Pharmaceuticals Inc ARNA.O: down 27.3% BUZZ-Plunges after lead drug fails eczema trial ** JPMorgan Chase & Co JPM.N: down 0.8% ** Bank of America BAC.N: down 0.9% ** Wells Fargo AND Co WFC.N: down 1.0% ** Goldman Sachs Group GS.N: down 0.7% ** Morgan Stanley MS.N: down 1.1% ** Citigroup Inc C.N: up 0.6% BUZZ-U.S. big banks serve up mixed bag as vaccine cheer fades ** Beyond Meat Inc BYND.O: down 20.2% BUZZ-Set for worst day in over a year on quarterly sales shock ** Voyager Therapeutics Inc VYGR.O: down 22.1% BUZZ-Falls on delayed resumption of Parkinson's disease trial The 11 major S&P 500 sectors: Communication Services | The top three S&P 500 .PG.INX percentage gainers: ** Walgreens Boots Alliance Inc WBA.O, up 8.1% ** Ulta Beauty Inc ULTA.O, up 6.8% ** Howmet Aerospace Inc HWM.N, up 6.7% The top three S&P 500 .PL.INX percentage losers: ** Carnival Corp CCL.N, down 10.8% ** Norwegian Cruise Line NCLH.N, down 6.5% ** Paycom Software Inc PAYC.N, down 6% The top three NYSE .PG.N percentage gainers: ** Boqii Holding Ltd BQ.N, up 20.7% ** Preferred Apartment Communities Inc APTS.N, up 18.6% ** Revlon Inc REV.N, up 17.9% The top three NYSE .PL.N percentage losers: ** GasLog Partners LLP GLOP.N, down 31.1% ** Ashford Hospitality Trust Inc AHT.N, down 22% ** Aurora Cannabis Inc ACB.N, down 21.9% The top three Nasdaq .PG.O percentage gainers: ** Greenland Technologies Holdings Corp GTEC.O, up 271.3% ** TWC Tech Holdings II Equity Warrant TWCTW.O, up 100% ** Summit Wireless Technologies Inc WISA.O, up 73.2% The top three Nasdaq .PL.O percentage losers: ** Arena Pharmaceuticals Inc ARNA.O, down 27.3% ** Praxis Precision Medicines Inc PRAX.O, down 24.5% ** Kandi Technologies Group Inc KNDI.O, down 22.4% ** Norwegian Cruise Line NCLH.N: down 6.5% BUZZ-Falls on bigger-than-expected loss, weak H1 demand ** Boeing Co BA.N: up 6.6% BUZZ-Rises on report of MAX approval happening as soon as Nov. 18 ** Eli Lilly LLY.N: up 3.7% BUZZ-Up after FDA grants emergency use authorization for COVID-19 drug ** Holly Energy Partners HEP.N: up 4.2% BUZZ-Credit Suisse raises to outperform ** FreightCar America RAIL.O: down 12.1% BUZZ-Drops on weak results, narrowed outlook ** Xperi Holding Corp XPER.O: up 23.5% BUZZ-Enters patent agreement with Comcast ** Smart Sand Inc SND.O: up 3.1% BUZZ-Gains as cost cuts drive surprise profit ** Novavax Inc NVAX.O: down 14.0% BUZZ-Slips after at-the-market share sale agreement ** Peloton Interactive Inc PTON.O: up 6.3% BUZZ-Rises on partnership with Beyonce ** D.R. .N At 11:51 ET, the Dow Jones Industrial Average .DJI was up 0.56% at 29,322.64. Horton Inc DHI.N: up 6.6% BUZZ-Up as FY 2021 sales forecast, results top estimates ** Viper Energy Partners LP VNOM.O: up 8.3% BUZZ-Rises on 'surprise' buyback program ** Kraft Heinz Co KHC.O: down 1.7% BUZZ-Slips as 3G Capital cuts stake ** Amazon.com Inc AMZN.O: down 2.4% BUZZ-Falls as EU charges co of competition distortion in online retail ** American Airlines Group Inc AAL.O: down 3.9% BUZZ-Slips on stock offering ** Mirati Therapeutics Inc MRTX.O: down 4.3% BUZZ-Guggenheim says bullish scenario is priced into stock, downgrades ** Papa John's International Inc PZZA.O: up 2.9% BUZZ-DB sees potential for sales growth next year, raises to 'buy' ** CureVac NV CVAC.O: up 4.3% BUZZ-Jumps on positive data from early-stage COVID-19 vaccine trial ** Ulta Beauty Inc ULTA.O: up 1.2% BUZZ-Rises on partnership with Target ** Square Inc SQ.N: down 3.4% BUZZ-Dips after $1 bln convertible debt raise ** TherapeuticsMD Inc TXMD.O: down 9.2% BUZZ-Falls on $30 mln equity raise ** Evergy Inc EVRG.N: up 1.5% BUZZ-Gains as Elliott seeks restart of deal talks with NextEra ** Carnival Corp CCL.N: down 10.8% BUZZ-Drops on planned $1.5 bln equity raise; peers sag ** Arena Pharmaceuticals Inc ARNA.O: down 27.3% BUZZ-Plunges after lead drug fails eczema trial ** JPMorgan Chase & Co JPM.N: down 0.8% ** Bank of America BAC.N: down 0.9% ** Wells Fargo AND Co WFC.N: down 1.0% ** Goldman Sachs Group GS.N: down 0.7% ** Morgan Stanley MS.N: down 1.1% ** Citigroup Inc C.N: up 0.6% BUZZ-U.S. big banks serve up mixed bag as vaccine cheer fades ** Beyond Meat Inc BYND.O: down 20.2% BUZZ-Set for worst day in over a year on quarterly sales shock ** Voyager Therapeutics Inc VYGR.O: down 22.1% BUZZ-Falls on delayed resumption of Parkinson's disease trial The 11 major S&P 500 sectors: Communication Services | The top three S&P 500 .PG.INX percentage gainers: ** Walgreens Boots Alliance Inc WBA.O, up 8.1% ** Ulta Beauty Inc ULTA.O, up 6.8% ** Howmet Aerospace Inc HWM.N, up 6.7% The top three S&P 500 .PL.INX percentage losers: ** Carnival Corp CCL.N, down 10.8% ** Norwegian Cruise Line NCLH.N, down 6.5% ** Paycom Software Inc PAYC.N, down 6% The top three NYSE .PG.N percentage gainers: ** Boqii Holding Ltd BQ.N, up 20.7% ** Preferred Apartment Communities Inc APTS.N, up 18.6% ** Revlon Inc REV.N, up 17.9% The top three NYSE .PL.N percentage losers: ** GasLog Partners LLP GLOP.N, down 31.1% ** Ashford Hospitality Trust Inc AHT.N, down 22% ** Aurora Cannabis Inc ACB.N, down 21.9% The top three Nasdaq .PG.O percentage gainers: ** Greenland Technologies Holdings Corp GTEC.O, up 271.3% ** TWC Tech Holdings II Equity Warrant TWCTW.O, up 100% ** Summit Wireless Technologies Inc WISA.O, up 73.2% The top three Nasdaq .PL.O percentage losers: ** Arena Pharmaceuticals Inc ARNA.O, down 27.3% ** Praxis Precision Medicines Inc PRAX.O, down 24.5% ** Kandi Technologies Group Inc KNDI.O, down 22.4% ** Norwegian Cruise Line NCLH.N: down 6.5% BUZZ-Falls on bigger-than-expected loss, weak H1 demand ** Boeing Co BA.N: up 6.6% BUZZ-Rises on report of MAX approval happening as soon as Nov. 18 ** Eli Lilly LLY.N: up 3.7% BUZZ-Up after FDA grants emergency use authorization for COVID-19 drug ** Holly Energy Partners HEP.N: up 4.2% BUZZ-Credit Suisse raises to outperform ** FreightCar America RAIL.O: down 12.1% BUZZ-Drops on weak results, narrowed outlook ** Xperi Holding Corp XPER.O: up 23.5% BUZZ-Enters patent agreement with Comcast ** Smart Sand Inc SND.O: up 3.1% BUZZ-Gains as cost cuts drive surprise profit ** Novavax Inc NVAX.O: down 14.0% BUZZ-Slips after at-the-market share sale agreement ** Peloton Interactive Inc PTON.O: up 6.3% BUZZ-Rises on partnership with Beyonce ** D.R. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The S&P 500 and the Nasdaq dropped on Tuesday as excitement over signs of a first successful late-stage COVID-19 vaccine trial faded, while investors continued to pull money out of some Big Tech companies that have benefited most from the pandemic. .N At 11:51 ET, the Dow Jones Industrial Average .DJI was up 0.56% at 29,322.64. |
37140.0 | 2020-11-10 00:00:00 UTC | CANADA STOCKS - TSX rises 0.78% to 16,604.80 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.78-to-16604.80-2020-11-10 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.78 percent to 16,604.80
* Leading the index were Enerplus Corp , up 12.0%, Sleep Country Canada Holdings Inc ZZZ.TO, up 9.7%, and Inter Pipeline Ltd IPL.TO, higher by 8.7%.
* Lagging shares were Aurora Cannabis Inc ACB.TO, down 25.7%, Kinaxis Inc KXS.TO, down 11.1%, and Jamieson Wellness Inc JWEL.TO, lower by 8.9%.
* On the TSX 127 issues rose and 94 fell as a 1.4-to-1 ratio favored advancers. There were 4 new highs and no new lows, with total volume of 240.9 million shares.
* The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO.
* The TSX's energy group .SPTTEN rose 1.47 points, or 1.9%, while the financials sector .SPTTFS climbed 6.46 points, or 2.3%.
* West Texas Intermediate crude futures CLc1 rose 2.68%, or $1.08, to $41.37 a barrel. Brent crude LCOc1 rose 2.85%, or $1.21, to $43.61 O/R
* The TSX is off 2.7% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Lagging shares were Aurora Cannabis Inc ACB.TO, down 25.7%, Kinaxis Inc KXS.TO, down 11.1%, and Jamieson Wellness Inc JWEL.TO, lower by 8.9%. * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * The Toronto Stock Exchange's TSX rises 0.78 percent to 16,604.80 * Leading the index were Enerplus Corp , up 12.0%, Sleep Country Canada Holdings Inc ZZZ.TO, up 9.7%, and Inter Pipeline Ltd IPL.TO, higher by 8.7%. | * Lagging shares were Aurora Cannabis Inc ACB.TO, down 25.7%, Kinaxis Inc KXS.TO, down 11.1%, and Jamieson Wellness Inc JWEL.TO, lower by 8.9%. * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * The TSX's energy group .SPTTEN rose 1.47 points, or 1.9%, while the financials sector .SPTTFS climbed 6.46 points, or 2.3%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * Lagging shares were Aurora Cannabis Inc ACB.TO, down 25.7%, Kinaxis Inc KXS.TO, down 11.1%, and Jamieson Wellness Inc JWEL.TO, lower by 8.9%. * The Toronto Stock Exchange's TSX rises 0.78 percent to 16,604.80 * Leading the index were Enerplus Corp , up 12.0%, Sleep Country Canada Holdings Inc ZZZ.TO, up 9.7%, and Inter Pipeline Ltd IPL.TO, higher by 8.7%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. * Lagging shares were Aurora Cannabis Inc ACB.TO, down 25.7%, Kinaxis Inc KXS.TO, down 11.1%, and Jamieson Wellness Inc JWEL.TO, lower by 8.9%. * The Toronto Stock Exchange's TSX rises 0.78 percent to 16,604.80 * Leading the index were Enerplus Corp , up 12.0%, Sleep Country Canada Holdings Inc ZZZ.TO, up 9.7%, and Inter Pipeline Ltd IPL.TO, higher by 8.7%. |
37141.0 | 2020-11-10 00:00:00 UTC | CANADA STOCKS-Financials lift TSX as investors cheer vaccine developments | ACB | https://www.nasdaq.com/articles/canada-stocks-financials-lift-tsx-as-investors-cheer-vaccine-developments-2020-11-10 | nan | nan | Updates prices, adds details on sectors
Nov 10 (Reuters) - Canada's main stock index hit a one-month high on Tuesday, led by gains in financial shares, as positive COVID-19 vaccine developments boosted hopes of a faster economic revival.
* Canadian drug developer Medicago said on Tuesday a combination of its experimental COVID-19 vaccine and GlaxoSmithKline's GSK.L vaccine booster produced virus-neutralizing antibodies in all healthy volunteers in an early-stage study.
* At 9:48 a.m. ET (1448 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 36.65 points, or 0.22%, at 16,512.51.
* Financials .SPTTFS gained 0.8%, the most among the three major sectors trading higher.
* Energy stocks .SPTTEN rose 0.6% as crude prices jumped about 1.5% as hopes that a COVID-19 vaccine could be on the horizon outweighed the expected negative impact on fuel demand from new lockdowns to contain the virus. O/R
* Limiting market gains, material stocks .GSPTTMT, which include precious and base metals miners and fertilizer companies, fell 0.5%.
* Endeavour Mining Corp EDV.TO fell 4.07% after the company said it was in talks with fellow West African-focused gold mining company Teranga Gold TGZ.TO over a potential merger, as it looks to add heft at a time of soaring gold prices.
* On the TSX, 117 issues were higher, while 100 issues declined for a 1.17-to-1 ratio favouring gainers, with 35.98 million shares traded.
* The largest percentage gainer on the TSX was Sleep Country Canada Holdings ZZZ.TO, which jumped 13.6%, after reporting improved quarterly sales.
* Aurora Cannabis ACB.TO fell 23.3%, the most on the TSX, while the second biggest decliner was Kinaxis Inc KXS.TO, down 6.7%.
* The TSX posted two new 52-week highs and no new low.
* Across all Canadian issues there were 10 new 52-week highs and three new lows, with total volume of 63.11 million shares.
(Reporting by Shashank Nayar in Bengaluru; Editing by Krishna Chandra Eluri and Amy Caren Daniel)
((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2256;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Aurora Cannabis ACB.TO fell 23.3%, the most on the TSX, while the second biggest decliner was Kinaxis Inc KXS.TO, down 6.7%. Updates prices, adds details on sectors Nov 10 (Reuters) - Canada's main stock index hit a one-month high on Tuesday, led by gains in financial shares, as positive COVID-19 vaccine developments boosted hopes of a faster economic revival. * Energy stocks .SPTTEN rose 0.6% as crude prices jumped about 1.5% as hopes that a COVID-19 vaccine could be on the horizon outweighed the expected negative impact on fuel demand from new lockdowns to contain the virus. | * Aurora Cannabis ACB.TO fell 23.3%, the most on the TSX, while the second biggest decliner was Kinaxis Inc KXS.TO, down 6.7%. Updates prices, adds details on sectors Nov 10 (Reuters) - Canada's main stock index hit a one-month high on Tuesday, led by gains in financial shares, as positive COVID-19 vaccine developments boosted hopes of a faster economic revival. * Endeavour Mining Corp EDV.TO fell 4.07% after the company said it was in talks with fellow West African-focused gold mining company Teranga Gold TGZ.TO over a potential merger, as it looks to add heft at a time of soaring gold prices. | * Aurora Cannabis ACB.TO fell 23.3%, the most on the TSX, while the second biggest decliner was Kinaxis Inc KXS.TO, down 6.7%. Updates prices, adds details on sectors Nov 10 (Reuters) - Canada's main stock index hit a one-month high on Tuesday, led by gains in financial shares, as positive COVID-19 vaccine developments boosted hopes of a faster economic revival. * Endeavour Mining Corp EDV.TO fell 4.07% after the company said it was in talks with fellow West African-focused gold mining company Teranga Gold TGZ.TO over a potential merger, as it looks to add heft at a time of soaring gold prices. | * Aurora Cannabis ACB.TO fell 23.3%, the most on the TSX, while the second biggest decliner was Kinaxis Inc KXS.TO, down 6.7%. Updates prices, adds details on sectors Nov 10 (Reuters) - Canada's main stock index hit a one-month high on Tuesday, led by gains in financial shares, as positive COVID-19 vaccine developments boosted hopes of a faster economic revival. * On the TSX, 117 issues were higher, while 100 issues declined for a 1.17-to-1 ratio favouring gainers, with 35.98 million shares traded. |
37142.0 | 2020-11-10 00:00:00 UTC | 3 Reasons Why Aurora Cannabis' Q1 Results Were Worse Than You Might Think | ACB | https://www.nasdaq.com/articles/3-reasons-why-aurora-cannabis-q1-results-were-worse-than-you-might-think-2020-11-10 | nan | nan | Aurora Cannabis (NYSE: ACB) is once again sizzling-hot. The Canadian pot stock skyrocketed last week as investors celebrated the U.S. election results. Aurora's off to a great start this week after reporting its fiscal year 2021 first-quarter results.
Many investors are excited that Aurora beat revenue estimates in the first quarter. However, there are three reasons why the company's Q1 results were worse than you might think based on the market's immediate reaction.
Image source: Getty Images.
1. Only a minuscule revenue increase
Aurora posted total net revenue in the first quarter of 67.8 million in Canadian dollars. This was higher than the company's previous forecast of revenue between CA$60 million and CA$64 million. However, it's important to note that this was only a minuscule increase of 0.4% from the previous quarter.
Also, Aurora's Q1 revenue total came in nearly 10% below the company's revenue generated in the prior-year period. Sure, the company divested some of its noncore businesses over the last 12 months. However, Aurora's cannabis net revenue still slipped 4% year over year. The company might have beat expectations in Q1, but those expectations were lower than they've been in the past.
It would be one thing if Aurora's top rivals were experiencing the same malaise, but they're not. Canopy Growth (NYSE: CGC), for example, reported its latest quarterly results Monday morning as well. Aurora barely squeaked out a quarter-over-quarter increase, but Canopy's revenue jumped 23% from the previous quarter to CA$135.3 million -- a record high for the company.
2. Losing ground in the Canadian recreational market
The most important market for Aurora Cannabis right now is the Canadian recreational marijuana market. It accounts for roughly half of the company's total revenue.
Unfortunately for Aurora, it's losing ground in this key market. The company announced Q1 consumer cannabis net revenue (most of which is generated in Canada) totaling CA$34.3 million. This amount was 3% below Aurora's Canadian recreational marijuana net sales in the previous quarter.
It could have been even worse. Aurora said that its consumer cannabis revenue in the first quarter was bolstered by CA$1.1 million in U.S. CBD sales, made possible by its acquisition earlier this year of Reliva. Meanwhile, Canopy Growth heralded its increasing market share in the Canadian recreational market.
3. Yet another big loss
We certainly can't overlook the fact that Aurora yet again posted a big loss in the first quarter. The company recorded a net loss from continuing operations of CA$107.2 million. However, it focused more on the adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss in Q1 of CA$57.9 million -- worse than the adjusted EBITDA loss of CA$29.6 million in the previous quarter.
Granted, Aurora's adjusted EBITDA deteriorated because of a legal settlement, contract termination fees, and costs related to ongoing severance and benefits associated with its downsizing. Without these expenses, the company's adjusted EBITDA loss would have been CA$10.5 million.
Still, Aurora's path to achieving positive adjusted EBITDA and positive cash flow depends on slashing costs more than it does top-line growth. That's not ideal.
What really matters now
Aurora still thinks it will generate positive adjusted EBITDA in the second quarter of fiscal 2021. The credibility of the company's management team rides on Aurora hitting that goal. Even more importantly, Aurora expects to deliver positive cash flow in fiscal 2021. This is critical for the company to avoid having to issue more shares to raise cash, thereby diluting the value of existing shares.
While these objectives are within Aurora's control, there's another major story for the marijuana stock that isn't. Aurora desperately wants to expand into the U.S. cannabis market. It can't do so and retain its listing on a major U.S. stock exchange until federal marijuana laws are changed. The best chance at this happening would be with a Democratic majority in both houses of the U.S. Congress and a Democrat in the White House.
Two of these three conditions should now be met, with the Democrats holding onto control of the U.S. House of Representatives and Joe Biden the projected winner in the presidential race. However, the fate of the Senate hinges on two runoff elections in Georgia.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) is once again sizzling-hot. Aurora barely squeaked out a quarter-over-quarter increase, but Canopy's revenue jumped 23% from the previous quarter to CA$135.3 million -- a record high for the company. Aurora said that its consumer cannabis revenue in the first quarter was bolstered by CA$1.1 million in U.S. CBD sales, made possible by its acquisition earlier this year of Reliva. | Aurora Cannabis (NYSE: ACB) is once again sizzling-hot. Only a minuscule revenue increase Aurora posted total net revenue in the first quarter of 67.8 million in Canadian dollars. This amount was 3% below Aurora's Canadian recreational marijuana net sales in the previous quarter. | Aurora Cannabis (NYSE: ACB) is once again sizzling-hot. Aurora barely squeaked out a quarter-over-quarter increase, but Canopy's revenue jumped 23% from the previous quarter to CA$135.3 million -- a record high for the company. Losing ground in the Canadian recreational market The most important market for Aurora Cannabis right now is the Canadian recreational marijuana market. | Aurora Cannabis (NYSE: ACB) is once again sizzling-hot. Only a minuscule revenue increase Aurora posted total net revenue in the first quarter of 67.8 million in Canadian dollars. Meanwhile, Canopy Growth heralded its increasing market share in the Canadian recreational market. |
37143.0 | 2020-11-10 00:00:00 UTC | Why Aurora Cannabis, Canopy Growth, and Tilray Stocks Wilted This Morning | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-canopy-growth-and-tilray-stocks-wilted-this-morning-2020-11-10 | nan | nan | What happened
On Monday, marijuana stocks were on fire, but on Tuesday, it's mostly smoke and ashes. As of 9:45 a.m. EST, shares of industry giant Canopy Growth (NYSE: CGC) are down 4.9%, while smaller Tilray (NASDAQ: TLRY) has tumbled 15% and Aurora Cannabis (NYSE: ACB) is down 21.6%.
I suppose there are any number of theories for why this might be: worries that the Democrats will not, in fact, sweep the White House, House of Representatives, and U.S. Senate, ushering in a "green" new deal of an entirely different sort -- or simply the law of gravity, and the knowledge that what goes up, must come down.
However, I prefer to think that whenever possible, investors respond to facts rather than theories --and the fact is that all three of these cannabis companies reported earnings yesterday.
And the fact also is that those earnings were not great.
Image source: Getty Images.
So what
Let's begin at the top (by market capitalization) with Canopy Growth, and its second-quarter 2021 results reported before market open yesterday. On the one hand, Canopy Growth reported $102 million in Q2 sales, 75% ahead of last year's Q2 haul (according to data from S&P Global Market Intelligence) and well ahead of Wall Street estimates. On the other hand, though, Canopy Growth continued to lose money -- $24 million for the quarter -- and burn cash. Negative free cash flow for the quarter was $143 million.
The numbers at Aurora Cannabis were almost a mirror image of what we saw at Canopy -- and even worse news for investors. Instead of rising, sales stalled out and fell 10% year over year, to $51 million. Net earnings a year ago flipped to a net loss of $81 million in Aurora's fiscal first quarter of 2021. And free cash flow, while not as negative as a year ago, was still quite negative at $93 million.
Finally, Tilray's results looked a bit more like Canopy's than Aurora's. Sales grew, albeit less than 7% to $51 million. Losses shrank, but the company still lost $2 million. And once again, the size of the cash bonfire dwarfed reported results, as Tilray burned through $26 million in negative free cash flow.
Now what
On Wall Street, all three of these stocks went soaring yesterday, and in the face of such enthusiasm, the only stock that analysts were prepared to criticize in public was Aurora Cannabis. Specifically, investment bank Stifel Nicolaus called the report "negative."
But even there, Stifel wasn't prepared to come right out and tell investors to take profits on Aurora, despite the stock being up 137% in a week.
Today, however, investors seem to be rethinking that advice. Over the past 12 reported months, months in which cannabis was legal to sell and use in Canada, and in many U.S. states, Tilray has still managed to lose $488 million, Canopy Growth $1.2 billion, and Aurora Cannabis $2.6 billion.
Marijuana legalization across the rest of the United States might change that -- or might not -- and in any case, with control of the Senate still in doubt, there's no guarantee that nationwide legalization will in fact happen. In the face of the prospect of continued months, quarters, and perhaps even years of losses still ahead, taking some profits off the table after yesterday's amazing rally sounds like a really good idea to me.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | As of 9:45 a.m. EST, shares of industry giant Canopy Growth (NYSE: CGC) are down 4.9%, while smaller Tilray (NASDAQ: TLRY) has tumbled 15% and Aurora Cannabis (NYSE: ACB) is down 21.6%. On the other hand, though, Canopy Growth continued to lose money -- $24 million for the quarter -- and burn cash. In the face of the prospect of continued months, quarters, and perhaps even years of losses still ahead, taking some profits off the table after yesterday's amazing rally sounds like a really good idea to me. | As of 9:45 a.m. EST, shares of industry giant Canopy Growth (NYSE: CGC) are down 4.9%, while smaller Tilray (NASDAQ: TLRY) has tumbled 15% and Aurora Cannabis (NYSE: ACB) is down 21.6%. On the one hand, Canopy Growth reported $102 million in Q2 sales, 75% ahead of last year's Q2 haul (according to data from S&P Global Market Intelligence) and well ahead of Wall Street estimates. And once again, the size of the cash bonfire dwarfed reported results, as Tilray burned through $26 million in negative free cash flow. | As of 9:45 a.m. EST, shares of industry giant Canopy Growth (NYSE: CGC) are down 4.9%, while smaller Tilray (NASDAQ: TLRY) has tumbled 15% and Aurora Cannabis (NYSE: ACB) is down 21.6%. Now what On Wall Street, all three of these stocks went soaring yesterday, and in the face of such enthusiasm, the only stock that analysts were prepared to criticize in public was Aurora Cannabis. Over the past 12 reported months, months in which cannabis was legal to sell and use in Canada, and in many U.S. states, Tilray has still managed to lose $488 million, Canopy Growth $1.2 billion, and Aurora Cannabis $2.6 billion. | As of 9:45 a.m. EST, shares of industry giant Canopy Growth (NYSE: CGC) are down 4.9%, while smaller Tilray (NASDAQ: TLRY) has tumbled 15% and Aurora Cannabis (NYSE: ACB) is down 21.6%. However, I prefer to think that whenever possible, investors respond to facts rather than theories --and the fact is that all three of these cannabis companies reported earnings yesterday. Net earnings a year ago flipped to a net loss of $81 million in Aurora's fiscal first quarter of 2021. |
37144.0 | 2020-11-09 00:00:00 UTC | Aurora Cannabis Stock Soars on Q1 Results | ACB | https://www.nasdaq.com/articles/aurora-cannabis-stock-soars-on-q1-results-2020-11-10 | nan | nan | Already high on recent state legalization initiatives and a potentially more weed business-friendly presidential administration, marijuana stock investors got another blast of good news on Monday. A bellwether company in the industry, Aurora Cannabis (NYSE: ACB) delivered better-than-expected quarterly results, at least on the top line.
For Aurora's Q1 of fiscal 2021, the company's net revenue was $67.8 million Canadian ($52.2 million), down by 1% from the previous quarter, and 10% lower on a year-over-year basis.
The company confusingly presented several different profitability metrics. The one it favors, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), deepened by 79% quarter over quarter to CA$57.9 million ($44.5 million), a figure that includes expenses related to recent restructuring activities. The Q1 2020 result was CA$39.7 million ($30.5 million).
Image source: Getty Images.
In spite of those erosions, investors were cheered by the fact that analysts tracking the stock collectively estimated it would book only CA$63.6 million ($48.9 million) in revenue.
Describing the quarter as a "transitional," one on the path to liquidity and stability, CEO Miguel Martin didn't hesitate to point out several reasons for investors to be cheerful.
He was quoted as saying that "We remain the leader by revenue in the high-margin Canadian medical market, our international medical business experienced more than 40% net revenue growth this quarter, and our CBD [cannabidiol] brand Reliva is No. 1 ranked by Nielsen in the U.S. CBD sector."
In its release, the company added that it aims to reach positive adjusted EBITDA next quarter.
Investors are certainly looking on the bright side of Aurora's results. They bid the company's stock up by 14.5% on Monday, crushing the comparatively modest gain of the S&P 500 index.
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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A bellwether company in the industry, Aurora Cannabis (NYSE: ACB) delivered better-than-expected quarterly results, at least on the top line. Already high on recent state legalization initiatives and a potentially more weed business-friendly presidential administration, marijuana stock investors got another blast of good news on Monday. Describing the quarter as a "transitional," one on the path to liquidity and stability, CEO Miguel Martin didn't hesitate to point out several reasons for investors to be cheerful. | A bellwether company in the industry, Aurora Cannabis (NYSE: ACB) delivered better-than-expected quarterly results, at least on the top line. For Aurora's Q1 of fiscal 2021, the company's net revenue was $67.8 million Canadian ($52.2 million), down by 1% from the previous quarter, and 10% lower on a year-over-year basis. The one it favors, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), deepened by 79% quarter over quarter to CA$57.9 million ($44.5 million), a figure that includes expenses related to recent restructuring activities. | A bellwether company in the industry, Aurora Cannabis (NYSE: ACB) delivered better-than-expected quarterly results, at least on the top line. For Aurora's Q1 of fiscal 2021, the company's net revenue was $67.8 million Canadian ($52.2 million), down by 1% from the previous quarter, and 10% lower on a year-over-year basis. The one it favors, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), deepened by 79% quarter over quarter to CA$57.9 million ($44.5 million), a figure that includes expenses related to recent restructuring activities. | A bellwether company in the industry, Aurora Cannabis (NYSE: ACB) delivered better-than-expected quarterly results, at least on the top line. The Q1 2020 result was CA$39.7 million ($30.5 million). Here's The Marijuana Stock You've Been Waiting For A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. |
37145.0 | 2020-11-09 00:00:00 UTC | CANADA STOCKS - TSX rises 1.28% to 16,491.60 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-1.28-to-16491.60-2020-11-09 | nan | nan | * The Toronto Stock Exchange's TSX rises 1.28 percent to 16,491.60
* Leading the index were Air Canada , up 26.8%, Vermilion Energy Inc VET.TO, up 26.2%, and Suncor Energy Inc SU.TO, higher by 24.8%.
* Lagging shares were Shopify Inc SHOP.TO, down 13.6%, Cargojet Inc CJT.TO, down 13.0%, and Agnico Eagle Mines Ltd AEM.TO, lower by 9.8%.
* On the TSX 138 issues rose and 82 fell as a 1.7-to-1 ratio favored advancers. There were 22 new highs and no new lows, with total volume of 363.6 million shares.
* The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Aurora Cannabis Inc ACB.TO.
* The TSX's energy group .SPTTEN rose 11.19 points, or 17.0%, while the financials sector .SPTTFS climbed 11.14 points, or 4.1%.
* West Texas Intermediate crude futures CLc1 rose 7.84%, or $2.91, to $40.05 a barrel. Brent crude LCOc1 rose 7%, or $2.76, to $42.21 O/R
* The TSX is off 3.4% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Aurora Cannabis Inc ACB.TO. * Lagging shares were Shopify Inc SHOP.TO, down 13.6%, Cargojet Inc CJT.TO, down 13.0%, and Agnico Eagle Mines Ltd AEM.TO, lower by 9.8%. * West Texas Intermediate crude futures CLc1 rose 7.84%, or $2.91, to $40.05 a barrel. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Aurora Cannabis Inc ACB.TO. * The Toronto Stock Exchange's TSX rises 1.28 percent to 16,491.60 * Leading the index were Air Canada , up 26.8%, Vermilion Energy Inc VET.TO, up 26.2%, and Suncor Energy Inc SU.TO, higher by 24.8%. * The TSX's energy group .SPTTEN rose 11.19 points, or 17.0%, while the financials sector .SPTTFS climbed 11.14 points, or 4.1%. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Aurora Cannabis Inc ACB.TO. * The Toronto Stock Exchange's TSX rises 1.28 percent to 16,491.60 * Leading the index were Air Canada , up 26.8%, Vermilion Energy Inc VET.TO, up 26.2%, and Suncor Energy Inc SU.TO, higher by 24.8%. * The TSX's energy group .SPTTEN rose 11.19 points, or 17.0%, while the financials sector .SPTTFS climbed 11.14 points, or 4.1%. | * The most heavily traded shares by volume were Air Canada AC.TO, Suncor Energy Inc SU.TO and Aurora Cannabis Inc ACB.TO. * Lagging shares were Shopify Inc SHOP.TO, down 13.6%, Cargojet Inc CJT.TO, down 13.0%, and Agnico Eagle Mines Ltd AEM.TO, lower by 9.8%. * On the TSX 138 issues rose and 82 fell as a 1.7-to-1 ratio favored advancers. |
37146.0 | 2020-11-09 00:00:00 UTC | Why Aurora Cannabis Fell 13.2% in October | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-fell-13.2-in-october-2020-11-09 | nan | nan | What happened
Shares of Aurora Cannabis (NYSE: ACB) fell 13.2% during the month of October, according to data from S&P Global Market Intelligence. The Canadian cannabis company has seen its stock decimated this year, as oversupply in the Canadian market, disappointing overseas sales, a rampant black market, and a balance sheet in need of repair have all conspired against it.
Even though the stock had already fallen by a huge amount this year, and did again after a disappointing September earnings report, the stock took yet another tumble in the month of October as the company said it would be selling more stock.
Image source: Getty Images.
So what
In late October, Aurora filed a press release saying that it would sell either "common shares, preferred shares, warrants, subscription receipts and debt securities" worth some $500 million over the next 25 months. Since Aurora's market capitalization was only around $500 million at the time of the announcement, it meant that current shareholders could be diluted by about 50% in the months ahead as the company tries to replenish its balance sheet amid negative earnings and cash flow. What's troubling is that Aurora had already completed a $250 million at-the-market stock offering, and still felt the need to go back for more.
Troubling, but not a surprise. At the end of the June quarter, Aurora counted $204 million in short and long-term debt, another $327 million in short and long-term convertible debt, against just $162 million in cash. The company also burned $337 million in operating cash and spent another $355 million in capital expenditures in the last year alone, for a shocking $692 million cash burn over the 12 months ended in June.
Now what
Amazingly, Aurora has rocketed 50% on Friday, Nov. 8 in the wake of the U.S. election, probably the result of a short squeeze and the prospect of marijuana legalization in the U.S. However, investors may be getting ahead of themselves. It's not a sure bet that Democrats will take the Senate or that federal cannabis legalization is coming -- although several individual states did vote to legalize cannabis on Nov. 3.
Even if legalization does happen, it doesn't mean every cannabis company will be successful; Aurora will still have to compete against several vertically integrated operators already competing successfully within individual states.
Investors should take care to look realistically at Aurora's current financial prospects, which appear quite dim, rather than speculating on "what-ifs" in U.S. cannabis policy.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened Shares of Aurora Cannabis (NYSE: ACB) fell 13.2% during the month of October, according to data from S&P Global Market Intelligence. Since Aurora's market capitalization was only around $500 million at the time of the announcement, it meant that current shareholders could be diluted by about 50% in the months ahead as the company tries to replenish its balance sheet amid negative earnings and cash flow. Investors should take care to look realistically at Aurora's current financial prospects, which appear quite dim, rather than speculating on "what-ifs" in U.S. cannabis policy. | What happened Shares of Aurora Cannabis (NYSE: ACB) fell 13.2% during the month of October, according to data from S&P Global Market Intelligence. At the end of the June quarter, Aurora counted $204 million in short and long-term debt, another $327 million in short and long-term convertible debt, against just $162 million in cash. The company also burned $337 million in operating cash and spent another $355 million in capital expenditures in the last year alone, for a shocking $692 million cash burn over the 12 months ended in June. | What happened Shares of Aurora Cannabis (NYSE: ACB) fell 13.2% during the month of October, according to data from S&P Global Market Intelligence. Even though the stock had already fallen by a huge amount this year, and did again after a disappointing September earnings report, the stock took yet another tumble in the month of October as the company said it would be selling more stock. At the end of the June quarter, Aurora counted $204 million in short and long-term debt, another $327 million in short and long-term convertible debt, against just $162 million in cash. | What happened Shares of Aurora Cannabis (NYSE: ACB) fell 13.2% during the month of October, according to data from S&P Global Market Intelligence. At the end of the June quarter, Aurora counted $204 million in short and long-term debt, another $327 million in short and long-term convertible debt, against just $162 million in cash. 10 stocks we like better than Aurora Cannabis Inc. |
37147.0 | 2020-11-09 00:00:00 UTC | CANADA STOCKS-TSX gains on positive vaccine news, Biden win | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-gains-on-positive-vaccine-news-biden-win-2020-11-09 | nan | nan | Updates share prices, adds details on sectors
Nov 9 (Reuters) - Canada's main stock index hit a two-month high on Monday after drugmaker Pfizer PFE.N said its experimental COVID-19 vaccine was more than 90% effective and as hopes of more stimulus under U.S. President-elect Joe Biden also boosted sentiment.
U.S. drugmaker Pfizer and German partner BioNTech SE BNTX.O are the first drugmakers to release successful data from a large-scale clinical trial of a coronavirus vaccine.
The companies said they have so far found no serious safety concerns and expect to seek U.S. authorization this month for emergency use of the vaccine.
* At 9:47 a.m. ET (1447 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 379.21 points, or 2.33%, at 16,662.04.
* The index is on track to record its highest single-day jump in nearly seven months.
* Cenovus Energy Inc's shares CVE.TO jumped 15% after the oil and gas producer said it will sell its Marten Hills oil assets in northern Alberta to Headwater Exploration Inc HWX.TO for C$100 million ($77.16 million).
* The energy sector .SPTTEN climbed 11.9% as U.S. crude CLc1 prices were up 10.7% a barrel and Brent crude LCOc1 added 9.6%. O/R
* A decliner was the materials sector .GSPTTMT, which includes precious metals miners, lost 5% as gold futures GCc1 fell 4%. GOL/MET/L
* On the TSX, 171 issues were higher, while 50 issues declined for a 3.42-to-1 ratio favoring gainers, with 69.55 million shares traded.
* The largest percentage gainers on the TSX was Aurora Cannabis ACB.TO, which jumped 25.9%, after reporting an improvement in quarterly results.
* Alamos Gold AGI.TO fell 11.8%, the most on the TSX, while the second biggest decliner was Kinross Gold Corp K.TO, down 10.2%.
* The TSX posted 22 new 52-week highs and no new low.
* Across all Canadian issues there were 147 new 52-week highs and 10 new lows, with total volume of 129.36 million shares.
(Reporting by Shashank Nayar in Bengaluru; Editing by Amy Caren Daniel)
((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2256;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The largest percentage gainers on the TSX was Aurora Cannabis ACB.TO, which jumped 25.9%, after reporting an improvement in quarterly results. Updates share prices, adds details on sectors Nov 9 (Reuters) - Canada's main stock index hit a two-month high on Monday after drugmaker Pfizer PFE.N said its experimental COVID-19 vaccine was more than 90% effective and as hopes of more stimulus under U.S. President-elect Joe Biden also boosted sentiment. O/R * A decliner was the materials sector .GSPTTMT, which includes precious metals miners, lost 5% as gold futures GCc1 fell 4%. | * The largest percentage gainers on the TSX was Aurora Cannabis ACB.TO, which jumped 25.9%, after reporting an improvement in quarterly results. Updates share prices, adds details on sectors Nov 9 (Reuters) - Canada's main stock index hit a two-month high on Monday after drugmaker Pfizer PFE.N said its experimental COVID-19 vaccine was more than 90% effective and as hopes of more stimulus under U.S. President-elect Joe Biden also boosted sentiment. * Cenovus Energy Inc's shares CVE.TO jumped 15% after the oil and gas producer said it will sell its Marten Hills oil assets in northern Alberta to Headwater Exploration Inc HWX.TO for C$100 million ($77.16 million). | * The largest percentage gainers on the TSX was Aurora Cannabis ACB.TO, which jumped 25.9%, after reporting an improvement in quarterly results. Updates share prices, adds details on sectors Nov 9 (Reuters) - Canada's main stock index hit a two-month high on Monday after drugmaker Pfizer PFE.N said its experimental COVID-19 vaccine was more than 90% effective and as hopes of more stimulus under U.S. President-elect Joe Biden also boosted sentiment. * Cenovus Energy Inc's shares CVE.TO jumped 15% after the oil and gas producer said it will sell its Marten Hills oil assets in northern Alberta to Headwater Exploration Inc HWX.TO for C$100 million ($77.16 million). | * The largest percentage gainers on the TSX was Aurora Cannabis ACB.TO, which jumped 25.9%, after reporting an improvement in quarterly results. Updates share prices, adds details on sectors Nov 9 (Reuters) - Canada's main stock index hit a two-month high on Monday after drugmaker Pfizer PFE.N said its experimental COVID-19 vaccine was more than 90% effective and as hopes of more stimulus under U.S. President-elect Joe Biden also boosted sentiment. GOL/MET/L * On the TSX, 171 issues were higher, while 50 issues declined for a 3.42-to-1 ratio favoring gainers, with 69.55 million shares traded. |
37148.0 | 2020-11-09 00:00:00 UTC | 3 Pot Stocks to Fade Into 2021 | ACB | https://www.nasdaq.com/articles/3-pot-stocks-to-fade-into-2021-2020-11-09 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
This morning, news that Pfizer (NYSE:PFE) has a successful vaccine is fueling a massive rally in stocks. There is also another catalyst to boot, which is the U.S. election process. Most investors wanted relief on either of these issues and today we got both. Some sectors like cannabis have been eagerly awaiting the election news. It looks like they are getting their wish but now it becomes almost a no-win situation for them. At least in the short term. They have already rallied too much in anticipation of a Biden victory. Case in point, pot stocks caught fire this month to the point of diminishing returns.
On Friday alone, the ETFMG Alternative Harvest ETF (NYSEARCA:MJ) and Tilray (NASDAQ:TLRY) spiked 10% and 24%, respectively. This morning’s news is adding to that.
The polls have leaned Biden’s way since the debates started, that’s when cannabis took flight. They’ve rallied 35% in under 30 days. The contention today is that Wall Street has already accounted for most of the upside already. They could potentially fade into next year. This won’t be a knock against the companies, but it’s just normal stock price action. Notice that I didn’t call it a correction or disaster. The point is not to raise extreme alarms. Investors on Wall Street usually price in the future as soon as they find out about it. The technicals on the charts also support it. The minute Biden took the lead in the polls, traders started buying pot stocks.
Cannabis Stocks Will Have Better Legislative Days Ahead
I don’t disagree that there are better legislative days ahead for pot stocks. It’s just that it’s almost all priced in already. By the time the new president takes office there will be a sell the news event. Conversely, let’s assume that President Trump miraculously wins re-election through litigation, then the selling will be even worse. In either case, cannabis stocks could cool off and recent buyers may suffer disappointment.
I am not a bear on the sector, in fact I predicted a few cannabis stock rallies in write ups and videos. But for now, I bet that the easy money is made. From here, the stocks are going into heavy resistance zones. The bulls usually need to gather more steam, so they can to re-mount more efforts to erode overcome the sellers.
7 Autonomous Vehicle Stocks to Buy As Transpiration Enters a New Era
Today the three marijuana stocks in focus are:
Canopy Growth (NYSE:CGC)
Aphria (NASDAQ:APHA)
Aurora Cannabis (NASDAQ:ACB)
Pot Stocks to Fade into 2021: Canopy Growth (CGC)
Source: Charts by TradingView
We cannot discuss cannabis investments and not mention Canopy Growth. Consensus is that it’s the crème of the crop. Ever since Constellation Brands (NYSE:STZ) invested $4.5 billion in it, investors dubbed it legit. They are not wrong because in this environment, having a war chest of cash is essential. Management will then have options to tackle the challenges they face.
The cannabis industry is swimming upstream. It is amazing that pot stocks are doing this well. This is an illegal activity in the eyes of the White House. Yet here they are still alive and kicking on Wall Street. I have the utmost respect for the group, so I apologize in advance for having a negative bias today. This is only for a trade, in fact think of it as finding an opportunity to buy a bargain.
It is exciting to see CGC stock approach $26 per share. But if we look left on the chart, we see that it had been there many times in the last few months. They all ended in failures, so now the assumption is that they will fail again. Onus is on the bulls to finally take it out. The biggest test today is the high it hit on Friday. Getting above $25 per share is crucial and would be a good omen for fans. Meanwhile, the proper trade is to wait for it and chase the breakout. The upside target would then be above $32 per share.
My guess is that it will fade again into support so that the bulls can reset and reload with stronger traders. Fast profits like these usually create a batch of weak hands. CGC stock needs stronger conviction to punch through the wall above. The dip if and when it comes will find footing near $18. See? I told you that I am not a hater. Case in point I’ve written about the upside almost exclusively like this in the middle of August.
Aphria (APHA)
Source: Charts by TradingView
Of the three today, APHA stock was the least happy on Friday, up only 0.75%. This morning it’s up 11%, so it’s making up for it a bit. It has had unusual price action lately. Maybe it has caused it to divest from the rest a little. This month it rallied and faded twice each time more than 30%. Unlike the other two, it had two major spikes similar to a third in July. The reaction to its earnings was negative, so investors are clearly confused about it.
They have good reason for this since they also had acquisition news. Management recently announced the acquisition of SweetWater Brewing. This is good news for the future because it looks like the team is planning for future prospects. It is ventures like these that made the cannabis stock so popular in 2018. It’s not the single form or use, but the hundreds of mainstream applications. Blending cannabis to social drinking is one of the most exciting possibilities. Beer and wine will likely have a strong competitive segment from cannabis.
7 Data-Driven Stocks for a Wave of Innovation
Not every stock is easy to trade, so investing in them might be best. This cohort moves so fast that investors should do their homework and decide to own shares through thick and thin. Ignoring short-term moves is tough on the way up and down. The FOMO is a powerful motivator. This morning I would resist the pop into the $6.5 zone. It was a ledge about a year ago, so it should be resistance into it. There is no incrementally good news from the earnings score card. There’s no tangible sequential revenue growth to justify the rally.
Aurora Cannabis (ACB)
Source: Charts by TradingView
The ACB stock rally on Friday was ridiculous by any measure and it’s up almost as much again today. I don’t need any charts to pass on taking new longs after a stock moves 90% in two mere hours. This is where responsible investors should admit that they’ve missed it if not already long. I am aware of the concept of momentum trading. There the idea is to buy high and sell higher. But this setup leaves a lot of room for failure.
Other than the fact that nothing has changed in the company’s actual operation, it’s pure speculation. The spike brings ACB stock into a major pivot level from 2016 and beyond. The rally from the October low is more than 260% now. It did almost exactly the same thing in May. Back then it announced a split just so it would stay on the board. The operational results have not improved as they have not grown revenues in three quarters. The gross profit has improved this year but August’s was 12% below last year’s same period.
Now it is facing a ton of resistance above on the chart. These are not hard lines in the sand but rather a bunch of smaller ones. Collectively they make up a difficult slog for the bulls. With the absence of actual improvement in the company results, the buyers need to prove themselves again. A far better entry into ACB stock is either on a dip closer to $7 per share, or above $13.
In 2018 when pot stocks burst onto the scene they received a lot of love. Too much, in fact, and the result was a let-down after the honeymoon. Today, I simply want to raise a similar caution flag. Consider it a yellow flag on the beach where investors can wade in but with caution.
On the date of publication, Nicolas Chahine did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nicolas Chahine is the managing director of SellSpreads.com.
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The post 3 Pot Stocks to Fade Into 2021 appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 7 Autonomous Vehicle Stocks to Buy As Transpiration Enters a New Era Today the three marijuana stocks in focus are: Canopy Growth (NYSE:CGC) Aphria (NASDAQ:APHA) Aurora Cannabis (NASDAQ:ACB) Pot Stocks to Fade into 2021: Canopy Growth (CGC) Source: Charts by TradingView We cannot discuss cannabis investments and not mention Canopy Growth. Aurora Cannabis (ACB) Source: Charts by TradingView The ACB stock rally on Friday was ridiculous by any measure and it’s up almost as much again today. The spike brings ACB stock into a major pivot level from 2016 and beyond. | 7 Autonomous Vehicle Stocks to Buy As Transpiration Enters a New Era Today the three marijuana stocks in focus are: Canopy Growth (NYSE:CGC) Aphria (NASDAQ:APHA) Aurora Cannabis (NASDAQ:ACB) Pot Stocks to Fade into 2021: Canopy Growth (CGC) Source: Charts by TradingView We cannot discuss cannabis investments and not mention Canopy Growth. Aurora Cannabis (ACB) Source: Charts by TradingView The ACB stock rally on Friday was ridiculous by any measure and it’s up almost as much again today. The spike brings ACB stock into a major pivot level from 2016 and beyond. | 7 Autonomous Vehicle Stocks to Buy As Transpiration Enters a New Era Today the three marijuana stocks in focus are: Canopy Growth (NYSE:CGC) Aphria (NASDAQ:APHA) Aurora Cannabis (NASDAQ:ACB) Pot Stocks to Fade into 2021: Canopy Growth (CGC) Source: Charts by TradingView We cannot discuss cannabis investments and not mention Canopy Growth. Aurora Cannabis (ACB) Source: Charts by TradingView The ACB stock rally on Friday was ridiculous by any measure and it’s up almost as much again today. The spike brings ACB stock into a major pivot level from 2016 and beyond. | 7 Autonomous Vehicle Stocks to Buy As Transpiration Enters a New Era Today the three marijuana stocks in focus are: Canopy Growth (NYSE:CGC) Aphria (NASDAQ:APHA) Aurora Cannabis (NASDAQ:ACB) Pot Stocks to Fade into 2021: Canopy Growth (CGC) Source: Charts by TradingView We cannot discuss cannabis investments and not mention Canopy Growth. Aurora Cannabis (ACB) Source: Charts by TradingView The ACB stock rally on Friday was ridiculous by any measure and it’s up almost as much again today. The spike brings ACB stock into a major pivot level from 2016 and beyond. |
37149.0 | 2020-11-09 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-McDonald's, New York Times, Pfizer, JPM, Apollo Global, American Airlines | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-mcdonalds-new-york-times-pfizer-jpm-apollo-global-american | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
U.S. stock prices surged on Monday as news of the first successful late stage COVID-19 vaccine trials stirred hopes of the economy emerging from a year of pandemic-driven crisis. .N
At 8:29 ET, Dow e-minis 1YMc1 were up 5.57% at 29,776. S&P 500 e-minis ESc1 were up 4.28% at 3,650.75, while Nasdaq 100 e-minis NQc1 were up 0.62% at 12,149.75. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Amc Entertat Hld , up 83.1% ** Ashford Hosptlty , up 41.0% ** Cinemark Hldgs , up 40.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Highpoint Resrcs , down 23.4% ** Duff & Plp Mdstm , down 17.1% ** Nautilus Inc , down 13.6% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sundial Growers Inc , up 128.0% ** Aptevo Therapeutics Inc , up 112.0% ** Company name not found , up 54.5% The top three Nasdaq percentage losers premarket .PRPL.O: ** Monocle Acquisition , down 43.6% ** Quidel Corp , down 32.3% ** Biogen Inc , down 28.2% ** New York Times NYT.N: up 1.4% premarket BUZZ-Evercore ISI upgrades on subscriber growth expectations
** Sundial Growers Inc SNDL.O: up 128.0% premarket
** Canopy Growth Corp CGC.N: up 12.0% premarket
** Aphria Inc APHA.O: up 15.3% premarket
** Cronos Group CRON.O: up 14.0% premarket
** Aurora Cannabis Inc ACB.N: up 30.6% premarket
** Tilray Inc TLRY.O: up 20.5% premarket
BUZZ-Pot stocks high on Biden election win
** Array Technologies ARRY.O: down 4.0% premarket
BUZZ-JPM, CS start coverage eyeing solar market growth
** MSCI Turkey ETF TUR.O: up 8.8% premarket BUZZ-Jumps as country's finance minister resigns
** Biogen BIIB.O: down 28.2% premarket BUZZ-Street View: Approval of Biogen's Alzheimer's drug no longer a slam dunk
** F5 Networks FFIV.O: up 14.3% premarket BUZZ-Up on report of Elliott's stake
** Pfizer PFE.N: up 16.1% premarket BUZZ-Jumps after company says its COVID-19 vaccine is more than 90% effective
** JPMorgan Chase & Co JPM.N: up 9.1% premarket ** Morgan Stanley MS.N: up 7.2% premarket ** Wells Fargo WFC.N: up 8.4% premarket ** Citigroup C.N: up 8.8% premarket BUZZ-U.S. banks track market gains as Pfizer says vaccine effective
** TrueCar TRUE.O: up 8.4% premarket BUZZ-Rises after brokerage upgrades to 'market outperform'
** Pfizer PFE.N: up 16.1% premarket ** BioNTech BNTX.O: up 27.2% premarket BUZZ-Rise as COVID-19 vaccine shown effective in large study
** Mastercard Inc MA.N: up 8.5% premarket ** Visa Inc V.N: up 6.9% premarket ** American Express Co AXP.N: up 19.0% premarket BUZZ-U.S. card firms jump on vaccine cheer
** Fisker Inc FSR.N: up 7.3% premarket BUZZ-Rises as Cowen initiates with 'outperform'
** CVS Health Corp CVS.N: up 2.1% premarket BUZZ-Street View: CVS Health's long-term story seems intact
** KKR & Co Inc KKR.N: up 4.9% premarket ** Blackstone Group Inc BX.N: up 2.8% premarket ** BlackRock Inc BLK.N: up 4.3% premarket ** Apollo Global Management Inc APO.N: up 4.4% premarket BuZZ-U.S. private equity firms rise as Pfizer says vaccine effective
** Calliditas Therapeutics CALT.O: up 50.0% premarket BUZZ-Soars on positive data for its kidney disease treatment
** American Airlines AAL.O: up 23.8% premarket ** Hilton Worldwide HLT.N: up 15.3% premarket ** Carnival Corp CCL.N: up 31.0% premarket ** MGM Resorts International MGM.N: up 15.3% premarket BUZZ-U.S. airlines, travel stocks soar after Pfizer's COVID-19 vaccine more than 90% effective
(Reporting by Shreyasee Raj in Bangalore)
((Shreyasee.Raj@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Amc Entertat Hld , up 83.1% ** Ashford Hosptlty , up 41.0% ** Cinemark Hldgs , up 40.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Highpoint Resrcs , down 23.4% ** Duff & Plp Mdstm , down 17.1% ** Nautilus Inc , down 13.6% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sundial Growers Inc , up 128.0% ** Aptevo Therapeutics Inc , up 112.0% ** Company name not found , up 54.5% The top three Nasdaq percentage losers premarket .PRPL.O: ** Monocle Acquisition , down 43.6% ** Quidel Corp , down 32.3% ** Biogen Inc , down 28.2% ** New York Times NYT.N: up 1.4% premarket BUZZ-Evercore ISI upgrades on subscriber growth expectations ** Sundial Growers Inc SNDL.O: up 128.0% premarket ** Canopy Growth Corp CGC.N: up 12.0% premarket ** Aphria Inc APHA.O: up 15.3% premarket ** Cronos Group CRON.O: up 14.0% premarket ** Aurora Cannabis Inc ACB.N: up 30.6% premarket ** Tilray Inc TLRY.O: up 20.5% premarket BUZZ-Pot stocks high on Biden election win ** Array Technologies ARRY.O: down 4.0% premarket BUZZ-JPM, CS start coverage eyeing solar market growth ** MSCI Turkey ETF TUR.O: up 8.8% premarket BUZZ-Jumps as country's finance minister resigns ** Biogen BIIB.O: down 28.2% premarket BUZZ-Street View: Approval of Biogen's Alzheimer's drug no longer a slam dunk ** F5 Networks FFIV.O: up 14.3% premarket BUZZ-Up on report of Elliott's stake ** Pfizer PFE.N: up 16.1% premarket BUZZ-Jumps after company says its COVID-19 vaccine is more than 90% effective ** JPMorgan Chase & Co JPM.N: up 9.1% premarket ** Morgan Stanley MS.N: up 7.2% premarket ** Wells Fargo WFC.N: up 8.4% premarket ** Citigroup C.N: up 8.8% premarket BUZZ-U.S. banks track market gains as Pfizer says vaccine effective ** TrueCar TRUE.O: up 8.4% premarket BUZZ-Rises after brokerage upgrades to 'market outperform' ** Pfizer PFE.N: up 16.1% premarket ** BioNTech BNTX.O: up 27.2% premarket BUZZ-Rise as COVID-19 vaccine shown effective in large study ** Mastercard Inc MA.N: up 8.5% premarket ** Visa Inc V.N: up 6.9% premarket ** American Express Co AXP.N: up 19.0% premarket BUZZ-U.S. card firms jump on vaccine cheer ** Fisker Inc FSR.N: up 7.3% premarket BUZZ-Rises as Cowen initiates with 'outperform' ** CVS Health Corp CVS.N: up 2.1% premarket BUZZ-Street View: CVS Health's long-term story seems intact ** KKR & Co Inc KKR.N: up 4.9% premarket ** Blackstone Group Inc BX.N: up 2.8% premarket ** BlackRock Inc BLK.N: up 4.3% premarket ** Apollo Global Management Inc APO.N: up 4.4% premarket BuZZ-U.S. private equity firms rise as Pfizer says vaccine effective ** Calliditas Therapeutics CALT.O: up 50.0% premarket BUZZ-Soars on positive data for its kidney disease treatment ** American Airlines AAL.O: up 23.8% premarket ** Hilton Worldwide HLT.N: up 15.3% premarket ** Carnival Corp CCL.N: up 31.0% premarket ** MGM Resorts International MGM.N: up 15.3% premarket BUZZ-U.S. airlines, travel stocks soar after Pfizer's COVID-19 vaccine more than 90% effective (Reporting by Shreyasee Raj in Bangalore) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock prices surged on Monday as news of the first successful late stage COVID-19 vaccine trials stirred hopes of the economy emerging from a year of pandemic-driven crisis. .N At 8:29 ET, Dow e-minis 1YMc1 were up 5.57% at 29,776. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Amc Entertat Hld , up 83.1% ** Ashford Hosptlty , up 41.0% ** Cinemark Hldgs , up 40.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Highpoint Resrcs , down 23.4% ** Duff & Plp Mdstm , down 17.1% ** Nautilus Inc , down 13.6% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sundial Growers Inc , up 128.0% ** Aptevo Therapeutics Inc , up 112.0% ** Company name not found , up 54.5% The top three Nasdaq percentage losers premarket .PRPL.O: ** Monocle Acquisition , down 43.6% ** Quidel Corp , down 32.3% ** Biogen Inc , down 28.2% ** New York Times NYT.N: up 1.4% premarket BUZZ-Evercore ISI upgrades on subscriber growth expectations ** Sundial Growers Inc SNDL.O: up 128.0% premarket ** Canopy Growth Corp CGC.N: up 12.0% premarket ** Aphria Inc APHA.O: up 15.3% premarket ** Cronos Group CRON.O: up 14.0% premarket ** Aurora Cannabis Inc ACB.N: up 30.6% premarket ** Tilray Inc TLRY.O: up 20.5% premarket BUZZ-Pot stocks high on Biden election win ** Array Technologies ARRY.O: down 4.0% premarket BUZZ-JPM, CS start coverage eyeing solar market growth ** MSCI Turkey ETF TUR.O: up 8.8% premarket BUZZ-Jumps as country's finance minister resigns ** Biogen BIIB.O: down 28.2% premarket BUZZ-Street View: Approval of Biogen's Alzheimer's drug no longer a slam dunk ** F5 Networks FFIV.O: up 14.3% premarket BUZZ-Up on report of Elliott's stake ** Pfizer PFE.N: up 16.1% premarket BUZZ-Jumps after company says its COVID-19 vaccine is more than 90% effective ** JPMorgan Chase & Co JPM.N: up 9.1% premarket ** Morgan Stanley MS.N: up 7.2% premarket ** Wells Fargo WFC.N: up 8.4% premarket ** Citigroup C.N: up 8.8% premarket BUZZ-U.S. banks track market gains as Pfizer says vaccine effective ** TrueCar TRUE.O: up 8.4% premarket BUZZ-Rises after brokerage upgrades to 'market outperform' ** Pfizer PFE.N: up 16.1% premarket ** BioNTech BNTX.O: up 27.2% premarket BUZZ-Rise as COVID-19 vaccine shown effective in large study ** Mastercard Inc MA.N: up 8.5% premarket ** Visa Inc V.N: up 6.9% premarket ** American Express Co AXP.N: up 19.0% premarket BUZZ-U.S. card firms jump on vaccine cheer ** Fisker Inc FSR.N: up 7.3% premarket BUZZ-Rises as Cowen initiates with 'outperform' ** CVS Health Corp CVS.N: up 2.1% premarket BUZZ-Street View: CVS Health's long-term story seems intact ** KKR & Co Inc KKR.N: up 4.9% premarket ** Blackstone Group Inc BX.N: up 2.8% premarket ** BlackRock Inc BLK.N: up 4.3% premarket ** Apollo Global Management Inc APO.N: up 4.4% premarket BuZZ-U.S. private equity firms rise as Pfizer says vaccine effective ** Calliditas Therapeutics CALT.O: up 50.0% premarket BUZZ-Soars on positive data for its kidney disease treatment ** American Airlines AAL.O: up 23.8% premarket ** Hilton Worldwide HLT.N: up 15.3% premarket ** Carnival Corp CCL.N: up 31.0% premarket ** MGM Resorts International MGM.N: up 15.3% premarket BUZZ-U.S. airlines, travel stocks soar after Pfizer's COVID-19 vaccine more than 90% effective (Reporting by Shreyasee Raj in Bangalore) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock prices surged on Monday as news of the first successful late stage COVID-19 vaccine trials stirred hopes of the economy emerging from a year of pandemic-driven crisis. S&P 500 e-minis ESc1 were up 4.28% at 3,650.75, while Nasdaq 100 e-minis NQc1 were up 0.62% at 12,149.75. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Amc Entertat Hld , up 83.1% ** Ashford Hosptlty , up 41.0% ** Cinemark Hldgs , up 40.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Highpoint Resrcs , down 23.4% ** Duff & Plp Mdstm , down 17.1% ** Nautilus Inc , down 13.6% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sundial Growers Inc , up 128.0% ** Aptevo Therapeutics Inc , up 112.0% ** Company name not found , up 54.5% The top three Nasdaq percentage losers premarket .PRPL.O: ** Monocle Acquisition , down 43.6% ** Quidel Corp , down 32.3% ** Biogen Inc , down 28.2% ** New York Times NYT.N: up 1.4% premarket BUZZ-Evercore ISI upgrades on subscriber growth expectations ** Sundial Growers Inc SNDL.O: up 128.0% premarket ** Canopy Growth Corp CGC.N: up 12.0% premarket ** Aphria Inc APHA.O: up 15.3% premarket ** Cronos Group CRON.O: up 14.0% premarket ** Aurora Cannabis Inc ACB.N: up 30.6% premarket ** Tilray Inc TLRY.O: up 20.5% premarket BUZZ-Pot stocks high on Biden election win ** Array Technologies ARRY.O: down 4.0% premarket BUZZ-JPM, CS start coverage eyeing solar market growth ** MSCI Turkey ETF TUR.O: up 8.8% premarket BUZZ-Jumps as country's finance minister resigns ** Biogen BIIB.O: down 28.2% premarket BUZZ-Street View: Approval of Biogen's Alzheimer's drug no longer a slam dunk ** F5 Networks FFIV.O: up 14.3% premarket BUZZ-Up on report of Elliott's stake ** Pfizer PFE.N: up 16.1% premarket BUZZ-Jumps after company says its COVID-19 vaccine is more than 90% effective ** JPMorgan Chase & Co JPM.N: up 9.1% premarket ** Morgan Stanley MS.N: up 7.2% premarket ** Wells Fargo WFC.N: up 8.4% premarket ** Citigroup C.N: up 8.8% premarket BUZZ-U.S. banks track market gains as Pfizer says vaccine effective ** TrueCar TRUE.O: up 8.4% premarket BUZZ-Rises after brokerage upgrades to 'market outperform' ** Pfizer PFE.N: up 16.1% premarket ** BioNTech BNTX.O: up 27.2% premarket BUZZ-Rise as COVID-19 vaccine shown effective in large study ** Mastercard Inc MA.N: up 8.5% premarket ** Visa Inc V.N: up 6.9% premarket ** American Express Co AXP.N: up 19.0% premarket BUZZ-U.S. card firms jump on vaccine cheer ** Fisker Inc FSR.N: up 7.3% premarket BUZZ-Rises as Cowen initiates with 'outperform' ** CVS Health Corp CVS.N: up 2.1% premarket BUZZ-Street View: CVS Health's long-term story seems intact ** KKR & Co Inc KKR.N: up 4.9% premarket ** Blackstone Group Inc BX.N: up 2.8% premarket ** BlackRock Inc BLK.N: up 4.3% premarket ** Apollo Global Management Inc APO.N: up 4.4% premarket BuZZ-U.S. private equity firms rise as Pfizer says vaccine effective ** Calliditas Therapeutics CALT.O: up 50.0% premarket BUZZ-Soars on positive data for its kidney disease treatment ** American Airlines AAL.O: up 23.8% premarket ** Hilton Worldwide HLT.N: up 15.3% premarket ** Carnival Corp CCL.N: up 31.0% premarket ** MGM Resorts International MGM.N: up 15.3% premarket BUZZ-U.S. airlines, travel stocks soar after Pfizer's COVID-19 vaccine more than 90% effective (Reporting by Shreyasee Raj in Bangalore) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. .N At 8:29 ET, Dow e-minis 1YMc1 were up 5.57% at 29,776. S&P 500 e-minis ESc1 were up 4.28% at 3,650.75, while Nasdaq 100 e-minis NQc1 were up 0.62% at 12,149.75. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Amc Entertat Hld , up 83.1% ** Ashford Hosptlty , up 41.0% ** Cinemark Hldgs , up 40.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Highpoint Resrcs , down 23.4% ** Duff & Plp Mdstm , down 17.1% ** Nautilus Inc , down 13.6% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sundial Growers Inc , up 128.0% ** Aptevo Therapeutics Inc , up 112.0% ** Company name not found , up 54.5% The top three Nasdaq percentage losers premarket .PRPL.O: ** Monocle Acquisition , down 43.6% ** Quidel Corp , down 32.3% ** Biogen Inc , down 28.2% ** New York Times NYT.N: up 1.4% premarket BUZZ-Evercore ISI upgrades on subscriber growth expectations ** Sundial Growers Inc SNDL.O: up 128.0% premarket ** Canopy Growth Corp CGC.N: up 12.0% premarket ** Aphria Inc APHA.O: up 15.3% premarket ** Cronos Group CRON.O: up 14.0% premarket ** Aurora Cannabis Inc ACB.N: up 30.6% premarket ** Tilray Inc TLRY.O: up 20.5% premarket BUZZ-Pot stocks high on Biden election win ** Array Technologies ARRY.O: down 4.0% premarket BUZZ-JPM, CS start coverage eyeing solar market growth ** MSCI Turkey ETF TUR.O: up 8.8% premarket BUZZ-Jumps as country's finance minister resigns ** Biogen BIIB.O: down 28.2% premarket BUZZ-Street View: Approval of Biogen's Alzheimer's drug no longer a slam dunk ** F5 Networks FFIV.O: up 14.3% premarket BUZZ-Up on report of Elliott's stake ** Pfizer PFE.N: up 16.1% premarket BUZZ-Jumps after company says its COVID-19 vaccine is more than 90% effective ** JPMorgan Chase & Co JPM.N: up 9.1% premarket ** Morgan Stanley MS.N: up 7.2% premarket ** Wells Fargo WFC.N: up 8.4% premarket ** Citigroup C.N: up 8.8% premarket BUZZ-U.S. banks track market gains as Pfizer says vaccine effective ** TrueCar TRUE.O: up 8.4% premarket BUZZ-Rises after brokerage upgrades to 'market outperform' ** Pfizer PFE.N: up 16.1% premarket ** BioNTech BNTX.O: up 27.2% premarket BUZZ-Rise as COVID-19 vaccine shown effective in large study ** Mastercard Inc MA.N: up 8.5% premarket ** Visa Inc V.N: up 6.9% premarket ** American Express Co AXP.N: up 19.0% premarket BUZZ-U.S. card firms jump on vaccine cheer ** Fisker Inc FSR.N: up 7.3% premarket BUZZ-Rises as Cowen initiates with 'outperform' ** CVS Health Corp CVS.N: up 2.1% premarket BUZZ-Street View: CVS Health's long-term story seems intact ** KKR & Co Inc KKR.N: up 4.9% premarket ** Blackstone Group Inc BX.N: up 2.8% premarket ** BlackRock Inc BLK.N: up 4.3% premarket ** Apollo Global Management Inc APO.N: up 4.4% premarket BuZZ-U.S. private equity firms rise as Pfizer says vaccine effective ** Calliditas Therapeutics CALT.O: up 50.0% premarket BUZZ-Soars on positive data for its kidney disease treatment ** American Airlines AAL.O: up 23.8% premarket ** Hilton Worldwide HLT.N: up 15.3% premarket ** Carnival Corp CCL.N: up 31.0% premarket ** MGM Resorts International MGM.N: up 15.3% premarket BUZZ-U.S. airlines, travel stocks soar after Pfizer's COVID-19 vaccine more than 90% effective (Reporting by Shreyasee Raj in Bangalore) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock prices surged on Monday as news of the first successful late stage COVID-19 vaccine trials stirred hopes of the economy emerging from a year of pandemic-driven crisis. .N At 8:29 ET, Dow e-minis 1YMc1 were up 5.57% at 29,776. |
37150.0 | 2020-11-09 00:00:00 UTC | Pre-Market Most Active for Nov 9, 2020 : AAL, ACB, PFE, CCL, NIO, AMC, QQQ, SQQQ, GE, TLRY, AAPL, TQQQ | ACB | https://www.nasdaq.com/articles/pre-market-most-active-for-nov-9-2020-%3A-aal-acb-pfe-ccl-nio-amc-qqq-sqqq-ge-tlry-aapl-tqqq | nan | nan | The NASDAQ 100 Pre-Market Indicator is up 147.15 to 12,238.5. The total Pre-Market volume is currently 183,651,558 shares traded.
The following are the most active stocks for the pre-market session:
American Airlines Group, Inc. (AAL) is +2.76 at $14.22, with 18,509,701 shares traded. AAL's current last sale is 142.2% of the target price of $10.
Aurora Cannabis Inc. (ACB) is +2.93 at $12.72, with 15,458,290 shares traded. Reuters Reports: BUZZ-U.S. STOCKS ON THE MOVE-U.S. homebuilders, cannabis stocks, CVS Health
Pfizer, Inc. (PFE) is +5.85 at $42.25, with 14,157,131 shares traded. PFE's current last sale is 104.32% of the target price of $40.5.
Carnival Corporation (CCL) is +4.32 at $18.14, with 13,008,662 shares traded. CCL's current last sale is 129.57% of the target price of $14.
NIO Inc. (NIO) is -0.67 at $40.96, with 10,481,317 shares traded. NIO's current last sale is 136.53% of the target price of $30.
AMC Entertainment Holdings, Inc. (AMC) is +2.15 at $4.64, with 10,454,562 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. The consensus EPS forecast is $-0.87. AMC's current last sale is 132.57% of the target price of $3.5.
Invesco QQQ Trust, Series 1 (QQQ) is +1.52 at $296.13, with 8,606,644 shares traded. This represents a 79.55% increase from its 52 Week Low.
ProShares UltraPro Short QQQ (SQQQ) is -0.3 at $18.53, with 6,257,818 shares traded. This represents a -2.22% decrease from its 52 Week Low.
General Electric Company (GE) is +0.86 at $8.95, with 6,096,440 shares traded. As reported by Zacks, the current mean recommendation for GE is in the "buy range".
Tilray, Inc. (TLRY) is +1.95 at $11.58, with 4,240,620 shares traded. Reuters Reports: BUZZ-U.S. STOCKS ON THE MOVE-U.S. homebuilders, cannabis stocks, CVS Health
Apple Inc. (AAPL) is +1.2098 at $119.90, with 3,778,311 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. The consensus EPS forecast is $1.39. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
ProShares UltraPro QQQ (TQQQ) is +2.4 at $153.80, with 3,072,206 shares traded. This represents a 376.6% increase from its 52 Week Low.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis Inc. (ACB) is +2.93 at $12.72, with 15,458,290 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. | Reuters Reports: BUZZ-U.S. STOCKS ON THE MOVE-U.S. homebuilders, cannabis stocks, CVS Health Aurora Cannabis Inc. (ACB) is +2.93 at $12.72, with 15,458,290 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. | Aurora Cannabis Inc. (ACB) is +2.93 at $12.72, with 15,458,290 shares traded. The total Pre-Market volume is currently 183,651,558 shares traded. NIO Inc. (NIO) is -0.67 at $40.96, with 10,481,317 shares traded. | Aurora Cannabis Inc. (ACB) is +2.93 at $12.72, with 15,458,290 shares traded. AAL's current last sale is 142.2% of the target price of $10. PFE's current last sale is 104.32% of the target price of $40.5. |
37151.0 | 2020-11-09 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-McDonald's, New York Times, Pfizer, JPM | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-mcdonalds-new-york-times-pfizer-jpm-2020-11-09 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Futures tracking the S&P 500 hit a record high on Monday after U.S. drugmaker Pfizer said its experimental vaccine was more than 90% effective in preventing COVID-19 based on initial data from a large study. .N
At 7:55 ET, Dow e-minis 1YMc1 were up 5.21% at 29,674. S&P 500 e-minis ESc1 were up 3.84% at 3,635.25, while Nasdaq 100 e-minis NQc1 were down 0.78% at 11,981. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Amc Entertat Hld , up 59.0% ** Penn Real Est , up 41.4% ** Carnival Plc Adr , up 35.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Highpoint Resrcs , down 29.3% ** Fiverr Intrntltd , down 11% ** Wayfair Inc , down 10.2% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sundial Growers Inc , up 136.0% ** Aptevo Therapeutics Inc , up 95.1% ** Company name not found , up 50.7% The top three Nasdaq percentage losers premarket .PRPL.O: ** Monocle Acquisition , down 40% ** Biogen Inc , down 28.9% ** Company name not found , down 23.5% ** McDonald's MCD.N: up 5.1% premarket BUZZ-PREVIEW: Seen posting 10% earnings drop
** New York Times NYT.N: up 4.3% premarket BUZZ-Evercore ISI upgrades on subscriber growth expectations
** Sundial Growers Inc SNDL.O: up 136.0% premarket
** Canopy Growth Corp CGC.N: up 8.2% premarket
** Aphria Inc APHA.O: up 11.8% premarket
** Cronos Group CRON.O: up 13.4% premarket
** Aurora Cannabis Inc ACB.N: up 22.0% premarket
** Tilray Inc TLRY.O: up 16.4% premarket
BUZZ-Pot stocks high on Biden election win
** Array Technologies ARRY.O: down 0.7% premarket
BUZZ-JPM, CS start coverage eyeing solar market growth
** MSCI Turkey ETF TUR.O: up 8.3% premarket BUZZ-Jumps as country's finance minister resigns
** Biogen BIIB.O: down 28.9% premarket BUZZ-Street View: Approval of Biogen's Alzheimer's drug no longer a slam dunk
** F5 Networks FFIV.O: up 9.8% premarket BUZZ-Up on report of Elliott's stake
** Pfizer PFE.N: up 11.9% premarket BUZZ-Jumps after company says its COVID-19 vaccine is more than 90% effective
** JPMorgan Chase & Co JPM.N: up 8.0% premarket ** Morgan Stanley MS.N: up 6.6% premarket ** Wells Fargo WFC.N: up 7.9% premarket ** Citigroup C.N: up 8.2% premarket BUZZ-U.S. banks track market gains as Pfizer says vaccine effective
(Compiled by Shreyasee Raj in Bangalore)
((Shreyasee.Raj@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Amc Entertat Hld , up 59.0% ** Penn Real Est , up 41.4% ** Carnival Plc Adr , up 35.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Highpoint Resrcs , down 29.3% ** Fiverr Intrntltd , down 11% ** Wayfair Inc , down 10.2% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sundial Growers Inc , up 136.0% ** Aptevo Therapeutics Inc , up 95.1% ** Company name not found , up 50.7% The top three Nasdaq percentage losers premarket .PRPL.O: ** Monocle Acquisition , down 40% ** Biogen Inc , down 28.9% ** Company name not found , down 23.5% ** McDonald's MCD.N: up 5.1% premarket BUZZ-PREVIEW: Seen posting 10% earnings drop ** New York Times NYT.N: up 4.3% premarket BUZZ-Evercore ISI upgrades on subscriber growth expectations ** Sundial Growers Inc SNDL.O: up 136.0% premarket ** Canopy Growth Corp CGC.N: up 8.2% premarket ** Aphria Inc APHA.O: up 11.8% premarket ** Cronos Group CRON.O: up 13.4% premarket ** Aurora Cannabis Inc ACB.N: up 22.0% premarket ** Tilray Inc TLRY.O: up 16.4% premarket BUZZ-Pot stocks high on Biden election win ** Array Technologies ARRY.O: down 0.7% premarket BUZZ-JPM, CS start coverage eyeing solar market growth ** MSCI Turkey ETF TUR.O: up 8.3% premarket BUZZ-Jumps as country's finance minister resigns ** Biogen BIIB.O: down 28.9% premarket BUZZ-Street View: Approval of Biogen's Alzheimer's drug no longer a slam dunk ** F5 Networks FFIV.O: up 9.8% premarket BUZZ-Up on report of Elliott's stake ** Pfizer PFE.N: up 11.9% premarket BUZZ-Jumps after company says its COVID-19 vaccine is more than 90% effective ** JPMorgan Chase & Co JPM.N: up 8.0% premarket ** Morgan Stanley MS.N: up 6.6% premarket ** Wells Fargo WFC.N: up 7.9% premarket ** Citigroup C.N: up 8.2% premarket BUZZ-U.S. banks track market gains as Pfizer says vaccine effective (Compiled by Shreyasee Raj in Bangalore) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Futures tracking the S&P 500 hit a record high on Monday after U.S. drugmaker Pfizer said its experimental vaccine was more than 90% effective in preventing COVID-19 based on initial data from a large study. .N At 7:55 ET, Dow e-minis 1YMc1 were up 5.21% at 29,674. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Amc Entertat Hld , up 59.0% ** Penn Real Est , up 41.4% ** Carnival Plc Adr , up 35.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Highpoint Resrcs , down 29.3% ** Fiverr Intrntltd , down 11% ** Wayfair Inc , down 10.2% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sundial Growers Inc , up 136.0% ** Aptevo Therapeutics Inc , up 95.1% ** Company name not found , up 50.7% The top three Nasdaq percentage losers premarket .PRPL.O: ** Monocle Acquisition , down 40% ** Biogen Inc , down 28.9% ** Company name not found , down 23.5% ** McDonald's MCD.N: up 5.1% premarket BUZZ-PREVIEW: Seen posting 10% earnings drop ** New York Times NYT.N: up 4.3% premarket BUZZ-Evercore ISI upgrades on subscriber growth expectations ** Sundial Growers Inc SNDL.O: up 136.0% premarket ** Canopy Growth Corp CGC.N: up 8.2% premarket ** Aphria Inc APHA.O: up 11.8% premarket ** Cronos Group CRON.O: up 13.4% premarket ** Aurora Cannabis Inc ACB.N: up 22.0% premarket ** Tilray Inc TLRY.O: up 16.4% premarket BUZZ-Pot stocks high on Biden election win ** Array Technologies ARRY.O: down 0.7% premarket BUZZ-JPM, CS start coverage eyeing solar market growth ** MSCI Turkey ETF TUR.O: up 8.3% premarket BUZZ-Jumps as country's finance minister resigns ** Biogen BIIB.O: down 28.9% premarket BUZZ-Street View: Approval of Biogen's Alzheimer's drug no longer a slam dunk ** F5 Networks FFIV.O: up 9.8% premarket BUZZ-Up on report of Elliott's stake ** Pfizer PFE.N: up 11.9% premarket BUZZ-Jumps after company says its COVID-19 vaccine is more than 90% effective ** JPMorgan Chase & Co JPM.N: up 8.0% premarket ** Morgan Stanley MS.N: up 6.6% premarket ** Wells Fargo WFC.N: up 7.9% premarket ** Citigroup C.N: up 8.2% premarket BUZZ-U.S. banks track market gains as Pfizer says vaccine effective (Compiled by Shreyasee Raj in Bangalore) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Futures tracking the S&P 500 hit a record high on Monday after U.S. drugmaker Pfizer said its experimental vaccine was more than 90% effective in preventing COVID-19 based on initial data from a large study. S&P 500 e-minis ESc1 were up 3.84% at 3,635.25, while Nasdaq 100 e-minis NQc1 were down 0.78% at 11,981. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Amc Entertat Hld , up 59.0% ** Penn Real Est , up 41.4% ** Carnival Plc Adr , up 35.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Highpoint Resrcs , down 29.3% ** Fiverr Intrntltd , down 11% ** Wayfair Inc , down 10.2% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sundial Growers Inc , up 136.0% ** Aptevo Therapeutics Inc , up 95.1% ** Company name not found , up 50.7% The top three Nasdaq percentage losers premarket .PRPL.O: ** Monocle Acquisition , down 40% ** Biogen Inc , down 28.9% ** Company name not found , down 23.5% ** McDonald's MCD.N: up 5.1% premarket BUZZ-PREVIEW: Seen posting 10% earnings drop ** New York Times NYT.N: up 4.3% premarket BUZZ-Evercore ISI upgrades on subscriber growth expectations ** Sundial Growers Inc SNDL.O: up 136.0% premarket ** Canopy Growth Corp CGC.N: up 8.2% premarket ** Aphria Inc APHA.O: up 11.8% premarket ** Cronos Group CRON.O: up 13.4% premarket ** Aurora Cannabis Inc ACB.N: up 22.0% premarket ** Tilray Inc TLRY.O: up 16.4% premarket BUZZ-Pot stocks high on Biden election win ** Array Technologies ARRY.O: down 0.7% premarket BUZZ-JPM, CS start coverage eyeing solar market growth ** MSCI Turkey ETF TUR.O: up 8.3% premarket BUZZ-Jumps as country's finance minister resigns ** Biogen BIIB.O: down 28.9% premarket BUZZ-Street View: Approval of Biogen's Alzheimer's drug no longer a slam dunk ** F5 Networks FFIV.O: up 9.8% premarket BUZZ-Up on report of Elliott's stake ** Pfizer PFE.N: up 11.9% premarket BUZZ-Jumps after company says its COVID-19 vaccine is more than 90% effective ** JPMorgan Chase & Co JPM.N: up 8.0% premarket ** Morgan Stanley MS.N: up 6.6% premarket ** Wells Fargo WFC.N: up 7.9% premarket ** Citigroup C.N: up 8.2% premarket BUZZ-U.S. banks track market gains as Pfizer says vaccine effective (Compiled by Shreyasee Raj in Bangalore) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. .N At 7:55 ET, Dow e-minis 1YMc1 were up 5.21% at 29,674. S&P 500 e-minis ESc1 were up 3.84% at 3,635.25, while Nasdaq 100 e-minis NQc1 were down 0.78% at 11,981. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Amc Entertat Hld , up 59.0% ** Penn Real Est , up 41.4% ** Carnival Plc Adr , up 35.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Highpoint Resrcs , down 29.3% ** Fiverr Intrntltd , down 11% ** Wayfair Inc , down 10.2% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sundial Growers Inc , up 136.0% ** Aptevo Therapeutics Inc , up 95.1% ** Company name not found , up 50.7% The top three Nasdaq percentage losers premarket .PRPL.O: ** Monocle Acquisition , down 40% ** Biogen Inc , down 28.9% ** Company name not found , down 23.5% ** McDonald's MCD.N: up 5.1% premarket BUZZ-PREVIEW: Seen posting 10% earnings drop ** New York Times NYT.N: up 4.3% premarket BUZZ-Evercore ISI upgrades on subscriber growth expectations ** Sundial Growers Inc SNDL.O: up 136.0% premarket ** Canopy Growth Corp CGC.N: up 8.2% premarket ** Aphria Inc APHA.O: up 11.8% premarket ** Cronos Group CRON.O: up 13.4% premarket ** Aurora Cannabis Inc ACB.N: up 22.0% premarket ** Tilray Inc TLRY.O: up 16.4% premarket BUZZ-Pot stocks high on Biden election win ** Array Technologies ARRY.O: down 0.7% premarket BUZZ-JPM, CS start coverage eyeing solar market growth ** MSCI Turkey ETF TUR.O: up 8.3% premarket BUZZ-Jumps as country's finance minister resigns ** Biogen BIIB.O: down 28.9% premarket BUZZ-Street View: Approval of Biogen's Alzheimer's drug no longer a slam dunk ** F5 Networks FFIV.O: up 9.8% premarket BUZZ-Up on report of Elliott's stake ** Pfizer PFE.N: up 11.9% premarket BUZZ-Jumps after company says its COVID-19 vaccine is more than 90% effective ** JPMorgan Chase & Co JPM.N: up 8.0% premarket ** Morgan Stanley MS.N: up 6.6% premarket ** Wells Fargo WFC.N: up 7.9% premarket ** Citigroup C.N: up 8.2% premarket BUZZ-U.S. banks track market gains as Pfizer says vaccine effective (Compiled by Shreyasee Raj in Bangalore) ((Shreyasee.Raj@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Futures tracking the S&P 500 hit a record high on Monday after U.S. drugmaker Pfizer said its experimental vaccine was more than 90% effective in preventing COVID-19 based on initial data from a large study. .N At 7:55 ET, Dow e-minis 1YMc1 were up 5.21% at 29,674. |
37152.0 | 2020-11-09 00:00:00 UTC | Top 5 Things To Watch In The Stock Market This Week | ACB | https://www.nasdaq.com/articles/top-5-things-to-watch-in-the-stock-market-this-week-2020-11-09 | nan | nan | U.S. Stock Futures Rise After Biden/Harris Win
U.S. stock futures jumped higher starting Sunday evening as investors took in President-elect Joe Biden’s victory in the U.S. presidential election. A powerful stock market rally has taken hold, fueled by-election results despite surging coronavirus cases. The Dow Jones, S&P 500 index, and the Nasdaq Composite had their best weeks since early April after their worst weeks since the March crash.
Investors are looking for more optimism in the stock market today. As the overnight session kicked off, it appears that we are in the midst of setting the index up to extend its sharp gains from last week. The Dow, S&P 500, and Nasdaq futures were all in positive territory moving 1.43%,1.46%, and1.78% higher respectively as of 5.31 am ET. The S&P 500 rose by over 7% last week, with technology and health-care stocks leading the gains. That was the index’s best week in the past 6 months.
“Investors should expect a ratcheting down of US/China tensions and the ‘decoupling path’ of the Cold Tech war, which is a bullish sign for Apple (AAPL Stock Report) and semi [semiconductor] stocks looking ahead,” Ives said in a note Saturday. Concerns of a tougher antitrust environment for Big Tech companies have also likely eased, according to WedBush analyst Dan Ives.
Read More
Could These Top Tech Stocks Benefit From A Biden Presidency?
Are These The Top Tech Stocks To Buy Before The End Of This Month?
Gold Starting The Week With Solid Footing
Gold’s modest gains after the market’s Sunday evening open comes as Democratic nominee Joe Biden continues to secure his place as President-elect. Although some states haven’t released their official tally from last week’s election, Biden has secured enough votes to win the race to the White House. That’s according to various media reports. While it appears to me that Joe Biden has solidified his place in history, many political pundits believe that President Donald Trump is not expected to give up without a fight.
“With recounts and lawsuits, we could be months away from finding out who will be the next president. That I think will weigh on the dollar. Because there is so much uncertainty in the U.S., I think you have to be in gold,” said Darin Newsom, president of Darin Newsom Analysis
Of course, it is not just politics hogging the limelight. Analysts expect economic uncertainty to affect the dollar. Such sentiments could provide support for gold. We saw new records in COVD-19 infections in the U.S. last week. The virus has infected more than 10 million people across the country. Many health officials believe it will only worsen.
DraftKings In Focus
Investors have had quite a roller-coaster ride with DraftKings’ (DKNG Stock Report) stock heading into Friday’s earnings report. The volatility is likely to continue for this unproven online casino stock. Apart from the red-hot rally with DKNG stock through most of the year, concerns include an unexpected decline in viewership figures for sporting events in recent months. The resurgence in virus cases could also lead to further event cancellations or delays. That would certainly have an impact on DraftKings’ business.
Of course, investors would be following closely on how the company’s management thinks about sports viewing demand. They would also be keen to know the company’s plans in growing market access. Management should also provide an update on the company’s plans to utilize cash it raised from a recent stock offering. All these will provide insights to investors on DraftKings’ plan to build a lucrative sports-betting business.
Disney Set To Report Earnings On November 12
Disney (DIS Stock Report) has been among the myriad companies hard-hit by the coronavirus pandemic. This came as stay-in-place orders and social distancing turned its once-lucrative theme parks business into a money-losing operation.
Amid the struggles across many of its legacy businesses, Disney recently announced it planned to focus more heavily on building out its one-year-old streaming service, Disney+. As of August, Disney+ had about 60 million subscribers, versus Netflix’s (NFLX Stock Report) nearly 200 million. So, when the company reports its quarterly update on this Thursday, the number of subscribers on the Disney+ streaming platform is what investors will be watching closely.
[Read More] Are These The Best Automotive Stocks To Buy This Week? 3 Names To Watch
More Earnings Underway
Another batch of corporate earnings results is slated for release throughout the week. They include Canadian cannabis stocks like Aurora Cannabis (ACB Stock Report) and Canopy Growth Corporation (CGC Stock Report). Besides, consumer stocks including McDonald’s Corp. (MCD Stock Report) and Beyond Meat (BYND Stock Report) will also be reporting quarterly results. A number of newly listed companies including Nikola (NKLA Stock Report), Lemonade (LMND Stock Report), and Palantir (PLTR Stock Report) are also set to report for the first time.
So far, about 89% of S&P 500 companies had reported third-quarter results. FactSet data suggested that 86% of companies reported positive earnings per share surprise. Could it be possible that the same percentage of companies yet to report can achieve an outperformance? If that is the case, it would be the highest percentage of upside earnings surprises in the past decade or so. Should it be surprising? Maybe. But perhaps uncertainties of the pandemic have introduced conservatism in forecasts. So, whether it’s the U.S. elections or earnings, there’s a lot on investors’ plates this week.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | They include Canadian cannabis stocks like Aurora Cannabis (ACB Stock Report) and Canopy Growth Corporation (CGC Stock Report). Although some states haven’t released their official tally from last week’s election, Biden has secured enough votes to win the race to the White House. While it appears to me that Joe Biden has solidified his place in history, many political pundits believe that President Donald Trump is not expected to give up without a fight. | They include Canadian cannabis stocks like Aurora Cannabis (ACB Stock Report) and Canopy Growth Corporation (CGC Stock Report). U.S. Stock Futures Rise After Biden/Harris Win U.S. stock futures jumped higher starting Sunday evening as investors took in President-elect Joe Biden’s victory in the U.S. presidential election. DraftKings In Focus Investors have had quite a roller-coaster ride with DraftKings’ (DKNG Stock Report) stock heading into Friday’s earnings report. | They include Canadian cannabis stocks like Aurora Cannabis (ACB Stock Report) and Canopy Growth Corporation (CGC Stock Report). DraftKings In Focus Investors have had quite a roller-coaster ride with DraftKings’ (DKNG Stock Report) stock heading into Friday’s earnings report. Besides, consumer stocks including McDonald’s Corp. (MCD Stock Report) and Beyond Meat (BYND Stock Report) will also be reporting quarterly results. | They include Canadian cannabis stocks like Aurora Cannabis (ACB Stock Report) and Canopy Growth Corporation (CGC Stock Report). That was the index’s best week in the past 6 months. Disney Set To Report Earnings On November 12 Disney (DIS Stock Report) has been among the myriad companies hard-hit by the coronavirus pandemic. |
37153.0 | 2020-11-09 00:00:00 UTC | Will Aurora Cannabis Become a Penny Stock Once Again? | ACB | https://www.nasdaq.com/articles/will-aurora-cannabis-become-a-penny-stock-once-again-2020-11-09 | nan | nan | The marijuana industry created a lot of buzz last week following the U.S. election. Residents in five states went to the polls to determine whether recreational or medical cannabis would be legalized, with every single ballot measure passing. It was a true green wave for the cannabis industry, and pot stocks have been soaring in unison ever since.
One marijuana stock that's caught fire is Canadian licensed producer Aurora Cannabis (NYSE: ACB), which on Thursday, Nov. 5, shot higher by 42%. Aurora has consistently been the most popular pot stock held by millennial investors on online investing app Robinhood.
But don't let these recent big gains fool you -- Aurora Cannabis isn't a well-run company. In fact, after escaping penny stock territory with a 1-for-12 reverse split in May that staved off delisting from the New York Stock Exchange, the company could well find itself a penny stock, once again, if things don't dramatically improve in the near future.
Image source: Getty Images.
Margins will remain under pressure
At roughly the midpoint of 2019, Aurora Cannabis was the talk of the town. It had 15 cultivation facilities that could, in theory, yield north of 650,000 kilos annually if fully built out. This made the company a logical choice to land lucrative long-term supply deals, and was also expected to significantly reduce per-gram growing costs well below the industry average.
But over roughly the past year, Aurora Cannabis has shuttered five of its smaller grow farms, sold off a 1-million-square-foot greenhouse that it never retrofit for pot production, and halted construction on two its largest (and costliest) projects to conserve capital. It's no longer the projected leader in worldwide output.
What's been more concerning in 2020 is how most Canadian licensed producers, including Aurora, have been forced to go toe-to-toe with the black market on price. Even with a relatively low tax rate on legal weed in Canada, it's been difficult for average-grade cannabis to compete on price with illicitly grown pot. As a result, Aurora and its peers have had no choice but churn out value-priced cannabis products. Aurora is picking up customers but is sacrificing its margins in the process. Promoting value cannabis is pushing the company's chance of recurring profitability even further down the road.
Image source: Getty Images.
International sales are nothing to write home about
Aurora Cannabis is also built around the idea of expanding beyond Canada's borders. At this time last year, it had a production, partnership, export, or research presence in 24 countries outside of Canada. This made it something of a lock to generate significant revenue in overseas markets... or so you'd think.
It's been more than two years since Canada waved the green flag on recreational cannabis, and Aurora hasn't managed to hit $5 million Canadian in international revenue once yet on a quarterly basis. What makes this lack of traction in overseas markets especially disturbing is that two of its chief rivals, Canopy Growth and Tilray, have had no issue substantially growing their medical cannabis revenue internationally.
Without substantive international revenue, Aurora Cannabis becomes even more reliant on the margin-suppressed and supply chain-challenged Canadian market. While I do expect Canada to work through its issues, some companies are better suited to wait for these problems to be corrected than others; and Aurora isn't one of those companies.
Image source: Getty Images.
Cash is a serious issue
Investors also need to be seriously worried about Aurora's balance sheet, and more specifically its cash balance.
As of Oct. 27, the company announced that it had $272 million (that's U.S.) in cash and cash equivalents on hand, with another $11 million from a revolving credit facility that hadn't been drawn down. That might sound like a healthy buffer, but it's really not when you consider just how much capital the company has burned through.
In May 2019, Aurora's board of directors authorized a $400 million at-the-market (ATM) offering that allowed the company to sell up to $400 million worth of its stock, less fees, to raise capital to cover its operating activities. In April 2020, it announced another $250 million ATM offering, which was based on the same shelf prospectus filed in May 2019. That offering has also been completed. Of this $650 million, just the aforementioned $272 million remains.
On Oct. 27, the company filed a new shelf prospectus to sell an additional $500 million ATM over the coming 25 months. If history is any indication of what's to come with this company, this $500 million might only give Aurora a year, or perhaps a bit more, of cushion, even after enacting steep cost cuts.
Image source: Getty Images.
Management is doing you no favors
Finally, Aurora's management team isn't looking out for your best interests. The company's money-losing ways and constant share issuances have ballooned its outstanding share count by over 11,800% since June 30, 2014. With absolutely no end in sight to this ongoing dilution, shareholders are fighting an uphill battle.
Aurora's management team also did a very poor job of assessing production demand in Canada. Clearly, Aurora's more than 650,000 kilos of peak annual output was unnecessary. Further, its more than a dozen acquisitions since 2016 were all grossly overvalued, with no deal representing more of an eyesore than the CA$2.64 billion Aurora paid for MedReleaf.
But the biggest slap in the face to Aurora's shareholders just might be the pay raises that Aurora's leading executives received for the fiscal 2020 campaign. Despite all the layoffs, a net loss of CA$3.3 billion that was magnified by multiple writedowns, and ongoing share-based dilution, most executives walked away with a double-digit pay hike. It's perfectly legal but morally criminal.
Given all of its shortcomings, I wouldn't be the least bit surprised if Aurora Cannabis finds its way back to penny stock territory.
Here's The Marijuana Stock You've Been Waiting For
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And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
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Sean Williams has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | One marijuana stock that's caught fire is Canadian licensed producer Aurora Cannabis (NYSE: ACB), which on Thursday, Nov. 5, shot higher by 42%. This made the company a logical choice to land lucrative long-term supply deals, and was also expected to significantly reduce per-gram growing costs well below the industry average. But over roughly the past year, Aurora Cannabis has shuttered five of its smaller grow farms, sold off a 1-million-square-foot greenhouse that it never retrofit for pot production, and halted construction on two its largest (and costliest) projects to conserve capital. | One marijuana stock that's caught fire is Canadian licensed producer Aurora Cannabis (NYSE: ACB), which on Thursday, Nov. 5, shot higher by 42%. It's been more than two years since Canada waved the green flag on recreational cannabis, and Aurora hasn't managed to hit $5 million Canadian in international revenue once yet on a quarterly basis. What makes this lack of traction in overseas markets especially disturbing is that two of its chief rivals, Canopy Growth and Tilray, have had no issue substantially growing their medical cannabis revenue internationally. | One marijuana stock that's caught fire is Canadian licensed producer Aurora Cannabis (NYSE: ACB), which on Thursday, Nov. 5, shot higher by 42%. But don't let these recent big gains fool you -- Aurora Cannabis isn't a well-run company. It's been more than two years since Canada waved the green flag on recreational cannabis, and Aurora hasn't managed to hit $5 million Canadian in international revenue once yet on a quarterly basis. | One marijuana stock that's caught fire is Canadian licensed producer Aurora Cannabis (NYSE: ACB), which on Thursday, Nov. 5, shot higher by 42%. It's been more than two years since Canada waved the green flag on recreational cannabis, and Aurora hasn't managed to hit $5 million Canadian in international revenue once yet on a quarterly basis. Here's The Marijuana Stock You've Been Waiting For A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. |
37154.0 | 2020-11-08 00:00:00 UTC | Why This 1 Marijuana Stock Could Bring Life-Changing Returns | ACB | https://www.nasdaq.com/articles/why-this-1-marijuana-stock-could-bring-life-changing-returns-2020-11-08 | nan | nan | Did you give up on marijuana stocks after their disastrous 2019? The industry benchmark, the Horizons Marijuana Life Sciences ETF, slumped 36% last year, compared to the S&P 500's increase of 29%. If you decided to hold on your shares despite the industrywide setbacks, you've been on a wild ride. The coronavirus pandemic helped cannabis sales surge as people started accepting it as a consumer staple product, but the benchmark ETF is still down 31% since Jan. 1.
Both Canada and the U.S. saw impressive sales numbers this summer. The Canadian market, which has always been challenged by the black market, saw legal cannabis sales surpass illicit sales for the first time in the second quarter. In the U.S., states including Illinois -- a rather new recreational pot market -- have broken sales records. Illinois saw a massive $431 million in total sales between Jan. 1, when legalization took effect, and September.
The U.S. cannabis stocks are among the best in the industry right now, with many sporting triple-digit revenue growth. Their Canadian counterparts are also catching up, barring a few that have miscalculated supply and demand. But there is one company that could bring life-changing returns if added to your portfolio now. Canada-based Canopy Growth (NYSE: CGC) might not currently be in the same space as its U.S. counterparts, but has a bright-looking future. Let's see why.
Image source: Getty Images.
Canopy Growth might see clear skies soon
After being considered top cannabis picks for awhile, Canopy and its peer Aurora Cannabis (NYSE: ACB) had a disastrous 2019. Demand for cannabis pushed these companies to make some rash decisions, going too far too fast via aggressive expansion plans.
Adding to their troubles, regulatory challenges like licensing delays made it difficult for legal stores to open in Canada, and different cannabis laws in various provinces helped to keep both companies from achieving profitability. That said, 2020 has seen fewer challenges to the opening of legal stores.The province of Ontario granted its 100th store authorization in June, and Canopy opened 10 retail stores under its Tokyo Smoke and Tweed banners in the province of Alberta in September.
These factors could help Canopy grow its revenue numbers. In its first quarter, which ended June 30, revenue jumped 22% year over year to 110 million Canadian dollars, mostly thanks to medical pot sales in Canada and Germany. Canopy has yet to make a mark with its new recreational derivatives products. It has been working hard to ensure it offers consumers the best variety of innovative cannabis derivatives (vapes, edibles, beverages, and more), which Canada legalized as a part of "Cannabis 2.0" legislation in October of 2019. So far, it has few offerings available on the market, but those that are have garnered positive reviews. The company's new derivative products also made a 13% contribution to total Canadian business-to-business sales in Q1.
Despite its revenue gains, Canopy hasn't yet been able to hit positive earnings before income, tax, depreciation, and amortization (EBITDA), an important measure of a company's operating performance. Rising operating expenses have resulted in EBITDA losses for the quarter of CA$92 million, compared with CA$93 million in the year-ago quarter.
With that said, as the regulatory and licensing challenges improve in Canada and the company's sales from derivatives products grow, Canopy could see things turn around sooner.
Image source: Getty Images.
Canopy Growth is on track for success
Aphria (NASDAQ: APHA), which has a lower market cap ($1.2 billion) than Canopy ($6.8 billion), boasts the highest revenue growth in the industry right now. However, Canopy still has an edge with its higher medical pot sales and its new recreational derivatives products. Canopy was an early mover in the industry, which boosted its medical cannabis business in Canada. In fiscal 2020, the company's medical marijuana revenue came in at CA$56.8 million, while Aphria's medical revenue was CA$37.4 million, most of which came in from its German subsidiary, CC Pharma.
Canopy can draw in higher revenue from its recreational business not only in Canada but also in the U.S. Its partnership with beverage giant Constellation Brands (NYSE: STZ) will come in handy for this. The maker of well-known beers like Corona and Modelo, Constellation can help Canopy market its cannabis beverages in the U.S. The two companies entered into a strategic partnership in 2017, with Constellation investing CA$245 million in Canopy. It has been increasing its stake in Canopy since then, a sign of faith in Canopy's potential and of its the hopes that the cannabis industry is yet to reach its full capacity. Constellation currently holds a 38% stake in the company.
Canopy can also utilize its strategic acquisition of U.S. hemp company Acreage Holdings (which will be finalized if or when the U.S. legalizes marijuana at the federal level) to strengthen its footing across the border.
This marijuana stock could bring you long-term gains
Investing in an evolving industry like cannabis requires patience and a stomach for risk. As new U.S. states vote to legalize cannabis, Canopy could sail to great heights. Furthermore, Canopy has a new CEO who understands the value of controlling operating expenses: former Constellation CFO David Klein. He took over the reins at Canopy in January, and has since announced various cost-cutting measures. These changes are expected to reduce the company's selling, general, and administrative (SG&A) expenses, and bring it closer to achieving profitability.
Shares of Canopy are about flat so far this year, while Aphria is up 5%. Aurora Cannabis' stock has been hit the hardest, sinking 76%, worse than the Horizons Marijuana Life Sciences ETF's fall of 31%.
CGC data by YCharts
New Jersey, Mississippi, South Dakota, Arizona, and Montana all passed versions of marijuana legalization on their November ballots, and with federal legalization expected by 2022, Canopy should rise to great heights. A strong new leadership team, innovative products, slow but growing revenues, and a stable financial partner are factors that make Canopy an attractive investment today. This is the right cannabis stock for new and seasoned investors eyeing life-changing long-term returns.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Sushree Mohanty has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Constellation Brands. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Canopy Growth might see clear skies soon After being considered top cannabis picks for awhile, Canopy and its peer Aurora Cannabis (NYSE: ACB) had a disastrous 2019. Adding to their troubles, regulatory challenges like licensing delays made it difficult for legal stores to open in Canada, and different cannabis laws in various provinces helped to keep both companies from achieving profitability. Despite its revenue gains, Canopy hasn't yet been able to hit positive earnings before income, tax, depreciation, and amortization (EBITDA), an important measure of a company's operating performance. | Canopy Growth might see clear skies soon After being considered top cannabis picks for awhile, Canopy and its peer Aurora Cannabis (NYSE: ACB) had a disastrous 2019. The industry benchmark, the Horizons Marijuana Life Sciences ETF, slumped 36% last year, compared to the S&P 500's increase of 29%. Adding to their troubles, regulatory challenges like licensing delays made it difficult for legal stores to open in Canada, and different cannabis laws in various provinces helped to keep both companies from achieving profitability. | Canopy Growth might see clear skies soon After being considered top cannabis picks for awhile, Canopy and its peer Aurora Cannabis (NYSE: ACB) had a disastrous 2019. Canopy Growth is on track for success Aphria (NASDAQ: APHA), which has a lower market cap ($1.2 billion) than Canopy ($6.8 billion), boasts the highest revenue growth in the industry right now. Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. | Canopy Growth might see clear skies soon After being considered top cannabis picks for awhile, Canopy and its peer Aurora Cannabis (NYSE: ACB) had a disastrous 2019. Adding to their troubles, regulatory challenges like licensing delays made it difficult for legal stores to open in Canada, and different cannabis laws in various provinces helped to keep both companies from achieving profitability. Constellation currently holds a 38% stake in the company. |
37155.0 | 2020-11-08 00:00:00 UTC | Why Aurora Cannabis' Ginormous Gain Could Quickly Evaporate | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-ginormous-gain-could-quickly-evaporate-2020-11-08 | nan | nan | Aurora Cannabis (NYSE: ACB) shareholders are probably on Cloud Nine after shares of the Canadian cannabis producer skyrocketed more than 50% on Friday and were up 94% at one point. The U.S. election results have investors more excited about Aurora than they've been in a very long time.
Are the good times ready to roll again for Aurora Cannabis? Don't bet the farm on it. Here's why Aurora's ginormous gain could quickly evaporate.
Image source: Getty Images.
Anatomy of a short squeeze?
Around 19% of Aurora's outstanding shares were sold short as of Oct. 15. When there's good news for a stock that's so heavily shorted, short-sellers usually scramble to cover their positions. This creates significant upward pressure on the share price, resulting in what's called a short squeeze. It really looks like we're seeing a short squeeze with Aurora Cannabis stock right now.
Of course, there are also investors who aren't short-sellers and are now more bullish about Aurora's prospects. Their buying only makes it harder for short-sellers to maintain their positions.
The important thing to know is that most short squeezes inevitably collapse. Sooner or later, all of the short positions are covered. When that happens, the artificially driven momentum ends almost immediately.
How long can a short squeeze go on? It depends. But if the good news that spurred short-sellers to run for the hills in the first place becomes not-so-good, the party could be over quickly.
Everything hinges on the Senate
With that in mind, let's look at the good news serving as a catalyst for the upswing in Aurora's shares -- the U.S. elections. Many marijuana stocks rose on the prospects that Joe Biden would win the presidential race and that Democrats have a chance at gaining control of both houses in the U.S. Congress.
Investors are hoping that a Democratic sweep would greatly increase the possibility of federal marijuana legalization, even if only for medical cannabis, along with federal recognition of states' authority in enforcing their own recreational marijuana laws. This would be great for Aurora, since it would pave the way for the company to expand into the lucrative U.S. marijuana market.
But the news isn't as positive as many investors might think. Most importantly, the path for Democrats to regain control of the U.S. Senate isn't an easy one. At this point, it seems likely that runoff elections in Georgia will decide which party claims a majority in the Senate.
Expect a fierce battle in Georgia, with Republicans arguing that voters should keep the Senate in GOP control to provide a balance against a Democratic majority in the House and a Democratic president. If Georgians ultimately vote for the GOP candidates, Sen. Mitch McConnell (R-Ky.) is likely to retain his position as Senate majority leader. McConnell could singlehandedly prevent any bills related to cannabis reform from being voted on in the Senate.
A prediction
What will happen with Aurora Cannabis stock? My prediction is that most of its gains from last week will soon go up in smoke. The short squeeze will end. The political reality of the battle ahead for control of the Senate will sink in. And shares of Aurora will sink like a brick.
Don't get me wrong: I'm not dismissing the Democrats' prospects of winning a Senate majority (or at least a 50-50 split that would effectively give the party control, since the vice president casts any tie-breaking votes). However, the runoff elections in Georgia won't be held until January. That's a long time for investors to begin to worry again about Aurora.
I'm also not saying that Aurora won't be able to make another significant comeback. If the company achieves its goal of generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA) in its next quarter, investors' enthusiasm for the stock could rise.
For now, though, my view is that Aurora's tremendous returns will be short-lived. Irrational exuberance usually doesn't end well.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) shareholders are probably on Cloud Nine after shares of the Canadian cannabis producer skyrocketed more than 50% on Friday and were up 94% at one point. Many marijuana stocks rose on the prospects that Joe Biden would win the presidential race and that Democrats have a chance at gaining control of both houses in the U.S. Congress. Don't get me wrong: I'm not dismissing the Democrats' prospects of winning a Senate majority (or at least a 50-50 split that would effectively give the party control, since the vice president casts any tie-breaking votes). | Aurora Cannabis (NYSE: ACB) shareholders are probably on Cloud Nine after shares of the Canadian cannabis producer skyrocketed more than 50% on Friday and were up 94% at one point. It really looks like we're seeing a short squeeze with Aurora Cannabis stock right now. Don't get me wrong: I'm not dismissing the Democrats' prospects of winning a Senate majority (or at least a 50-50 split that would effectively give the party control, since the vice president casts any tie-breaking votes). | Aurora Cannabis (NYSE: ACB) shareholders are probably on Cloud Nine after shares of the Canadian cannabis producer skyrocketed more than 50% on Friday and were up 94% at one point. When there's good news for a stock that's so heavily shorted, short-sellers usually scramble to cover their positions. It really looks like we're seeing a short squeeze with Aurora Cannabis stock right now. | Aurora Cannabis (NYSE: ACB) shareholders are probably on Cloud Nine after shares of the Canadian cannabis producer skyrocketed more than 50% on Friday and were up 94% at one point. When there's good news for a stock that's so heavily shorted, short-sellers usually scramble to cover their positions. It really looks like we're seeing a short squeeze with Aurora Cannabis stock right now. |
37156.0 | 2020-11-07 00:00:00 UTC | How Risky Is Aurora Cannabis Stock? | ACB | https://www.nasdaq.com/articles/how-risky-is-aurora-cannabis-stock-2020-11-07 | nan | nan | Aurora Cannabis (NYSE: ACB) is easy to see as a particularly risky cannabis company, especially since its stock price effectively collapsed this year, dropping nearly 80% since Jan. 1. Between the pandemic's effect on retail revenue and an uncertain future for the legalization of cannabis in North America and elsewhere, Aurora Cannabis is not the lone pot stock experiencing immense disruption. If investors want to protect their marijuana stock portfolios, they'll need to understand the plethora of risks facing companies like Aurora.
In short, Aurora's stock could easily see a burst of growth if cannabis is federally legalized in the U.S. or the E.U., but that won't solve the company's larger issues with profitability. Nor will it guarantee that the company captures a significant share of the newly created markets. In fact, new developments in both of these areas have recently changed the riskiness of the stock.
Image source: Getty Images.
Aurora has plenty of internal and external factors driving risk
The first thing that potential investors should know about Aurora is that it isn't profitable. While the company is taking aggressive actions to reduce its heavily overbuilt cannabis cultivation capabilities, only closing a few cultivation centers may not be enough to bridge the gap between its sales and its expenses. So, while the risk of it being unprofitable in the long term may be dropping, there's still a substantial risk in the short term that profitability will be slower to arrive than investors want.
There's also a substantial risk that Aurora's market share is slipping. According to the company's latest earnings report, it has lost its number one position in the consumer use segment of Canada, which is its largest market. Furthermore, consumer cannabis revenue (for the period ended June 30) shrank by 9% compared to the prior quarter, driven by a 30% fall in the average price per gram of cannabis sold. This last point is especially bad news, because it means that the company's narrow-margin and low value-added products like bulk cannabis flower are selling better than more profitable items like vaporizer canisters. A slipping market share in Canada doesn't portend well for the company's ability to penetrate and retain dominance in new markets enabled by cannabis legalization, which may be looming in the U.S.
Risk is falling in several key areas, but slowly
Aurora's ambitious plan to scale back its operations to focus on its core profitable products has been in full swing for several quarters now. Some of the plan's beneficial effects are already appearing in the company's financial metrics. Selling, general, and administrative (SG&A) expenses fell by 18% in the most recent quarter, which is something that the company's leadership has mentioned as a priority. Likewise, Aurora's cannabis production volume is rising, which is allowing it to take advantage of economies of scale. This reduced the cash cost to produce a gram of cannabis by 27% compared to the prior quarter.
New cost reductions are slated to begin next year. By the middle of 2021, Aurora expects to have positive earnings. So, if everything goes according to plan, Aurora might start to have upward pressure on its stock from positive earnings growth by the end of next year or in early 2022.
What's the verdict on Aurora's risk?
The final piece of the puzzle is that Aurora is facing a shareholder lawsuit alleging that its transformation plan failed to mitigate the company's profitability issues, among other claims. In other words, the company's investors haven't been satisfied with the actions that it has taken so far to reduce its downside risks. And, as a result, the company may be on the hook to compensate its shareholders, losing more money in the process.
I think that Aurora Cannabis is still a highly risky stock. But its overall level of risk appears to be dropping thanks to the company's transformation plan, even if it has proceeded a bit more slowly than we would have hoped. If you're still interested in investing in Aurora, check back in the middle of next year to see if it has reached the positive earnings its management aspires to, and be sure to tread carefully -- even then. For investors with a very high tolerance for risk, investing now might result in the largest gains, but it's a gamble at best.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 15 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Alex Carchidi has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) is easy to see as a particularly risky cannabis company, especially since its stock price effectively collapsed this year, dropping nearly 80% since Jan. 1. In short, Aurora's stock could easily see a burst of growth if cannabis is federally legalized in the U.S. or the E.U., but that won't solve the company's larger issues with profitability. This last point is especially bad news, because it means that the company's narrow-margin and low value-added products like bulk cannabis flower are selling better than more profitable items like vaporizer canisters. | Aurora Cannabis (NYSE: ACB) is easy to see as a particularly risky cannabis company, especially since its stock price effectively collapsed this year, dropping nearly 80% since Jan. 1. There's also a substantial risk that Aurora's market share is slipping. A slipping market share in Canada doesn't portend well for the company's ability to penetrate and retain dominance in new markets enabled by cannabis legalization, which may be looming in the U.S. Risk is falling in several key areas, but slowly Aurora's ambitious plan to scale back its operations to focus on its core profitable products has been in full swing for several quarters now. | Aurora Cannabis (NYSE: ACB) is easy to see as a particularly risky cannabis company, especially since its stock price effectively collapsed this year, dropping nearly 80% since Jan. 1. In short, Aurora's stock could easily see a burst of growth if cannabis is federally legalized in the U.S. or the E.U., but that won't solve the company's larger issues with profitability. A slipping market share in Canada doesn't portend well for the company's ability to penetrate and retain dominance in new markets enabled by cannabis legalization, which may be looming in the U.S. Risk is falling in several key areas, but slowly Aurora's ambitious plan to scale back its operations to focus on its core profitable products has been in full swing for several quarters now. | Aurora Cannabis (NYSE: ACB) is easy to see as a particularly risky cannabis company, especially since its stock price effectively collapsed this year, dropping nearly 80% since Jan. 1. A slipping market share in Canada doesn't portend well for the company's ability to penetrate and retain dominance in new markets enabled by cannabis legalization, which may be looming in the U.S. Risk is falling in several key areas, but slowly Aurora's ambitious plan to scale back its operations to focus on its core profitable products has been in full swing for several quarters now. In other words, the company's investors haven't been satisfied with the actions that it has taken so far to reduce its downside risks. |
37157.0 | 2020-11-06 00:00:00 UTC | Top Marijuana Stocks To Watch As The U.S Elections Come To An End | ACB | https://www.nasdaq.com/articles/top-marijuana-stocks-to-watch-as-the-u.s-elections-come-to-an-end-2020-11-06 | nan | nan | Looking For Top Marijuana Stocks To Add To Your Portfolio? Here’s 3 To Watch In November
Marijuana stocks have seen a surge in overall interest this week. For example, Aphria Inc (APHA Stock Report) saw an impressive 19% increase in its share prices in the past few days. Companies who are not direct producers have also seen growth. This can be seen in marijuana real estate company Innovative Industrial‘s (IIPR Stock Report) sudden growth of 20% this week. To address the elephant in the room (or donkey in this case), this is likely due to the current standings of the U.S. presidential race.
The Biden/Harris candidacy has not been shy about their opinions on the calming substance. This in conjunction with their current lead in the polls could bring interesting opportunities for eagle-eyed investors. They have expressed strong views in favor of marijuana legalization. Considering this, investors could be flocking towards the marijuana industry. With Harris pledging decriminalization of the substance, it appears that investors anticipate a possible Biden/Harris win.
In addition to this, voters in three states approved ballot measures involving marijuana. They voted in favor of recreational marijuana in Arizona, New Jersey, and South Dakota. The results from Montana’s recreational ballot question and Mississippi’s medical measure have yet to be tallied. Although these initiatives are only the first steps in the process of legalization, marijuana companies are already riding this socio-political tailwind this week. Having said all this, here is a list of marijuana stocks that investors are watching.
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Top Marijuana Stocks To Watch In Q4 2020: Aurora Cannabis Inc
The first stock on this list is Aurora Cannabis Inc (ACB Stock Report). Aurora is a Canadian licensed cannabis producer that is headquartered in Edmonton. The company has eight licensed production facilities, five sales licenses, and operates in 25 countries. It also has a robust portfolio of medical and consumer brands under the company name.
In Q4 2020, the company produced over 44,000 kilograms of cannabis. This is a 23% increase from Q3 2020. As a result, Aurora saw higher overhead absorption, greater weighted average yields per plant, and capacity utilization. Ultimately, this contributed to a decrease in cash cost quarter-over-quarter. The company’s share price saw a phenomenal rise of 31% this week as well.
The company acquired private cannabidiol (CBD) company Reliva in May. Reliva is a big player in the U.S. CBD industry where its products are sold in over 20,000 retail locations across the country. With the company being the second largest in the market, this is undoubtedly a good move on Aurora’s part. This acquisition is likely Aurora’s means of penetrating the U.S. cannabis market. Consequently, investors are likely watching the company as it appears to have been preparing for a Biden/Harris win this year.
For the most part, Aurora has been making moves in anticipation of federal-level legalization of marijuana. With its extended reach into the U.S. market, high-tech low-cost production facilities, and science-driven innovations, could it be a top marijuana stock to watch?
Top Marijuana Stocks To Watch In Q4 2020: Canopy Growth Corp
The next stock on this list is Canopy Growth Corp (CGC Stock Report). Canopy is known as the largest cannabis company in the world based on market capitalization. The company is based in Ontario and was founded in 2013. In addition to its operation in Canada, Canopy also has partnership agreements with Spanish pharma company Alcaliber. The collaboration with Alcaliber serves as the company’s means of penetrating key European markets. It aims to do so by establishing European based cultivation and extraction capabilities. This essentially enables Alcaliber to grow and cultivate marijuana at its facilities for global sales.
In the last week, the company saw its shares jump 12% on Thursday’s intraday trading. Its fiscal Q1 2021 financials revealed a 22% increase in net revenue year-over-year. This in addition to a 50% improvement in free cash flow year-over-year may indicate that the company is recovering from its rough year in the stock market. Why is the company seeing this much movement?
Canopy is undoubtedly having a very busy week. The marijuana industry titan is in the limelight due to the current presidential race standings. However, another key piece of news would be its transition to Nasdaq’s (NDAQ Stock Report) Global Select Market. Its shares will reportedly start trading on the new exchange on November 16.
The company mentioned that this move is cheaper for the company compared to being listed on the New York Stock Exchange. CEO David Klein elaborated on this by saying that the move provided the company with “greater cost-effectiveness and access to a suite of tools and services that will help us connect more efficiently with our current and future investors.” With all things considered, will CGC stocks be a top marijuana stock to buy for the long run?
[Read More] Top Tech Stocks To Watch For Exposure To Bitcoin
Top Marijuana Stocks To Watch In Q4 2020: Tilray Inc
The final spot on this list goes to Tilray Inc (TLRY Stock Report). This Canadian pharmaceutical and cannabis company (founded in 2013) is based in Nanaimo. It also has operations in Australia, New Zealand, Germany, Portugal, and Latin America. Over the last few years, Tilray has made a string of strategic partnerships and acquisitions. As a result, the company’s portfolio now consists of a diverse collection of cannabis-based products.
This ranges from non-combustible medical products to non-alcoholic CBD-infused beverages and edibles. The most notable of these would be its acquisition of Manitoba Harvest which markets its CBD products in 13,000 stores all over the U.S. Tilray also ventures into the medical aspect of the industry via clinical trial testing of medical cannabis.
The company’s stock has seen an explosive growth of 30% on Thursday. In fiscal Q2 2020, it reported a 10% increase in year-over-year revenue with a 32% improvement of adjusted EBITDA year-over-year. This seemingly healthy growth could be a good sign for the company considering the challenging year it has had. With its Q3 financials set to be reported on November 9, investors are likely watching Tilray closely.
Assuming the votes go in favor of the marijuana industry, the company is undeniably looking for an entry point into the lucrative U.S. cannabis market. Tilray could have a means of doing so via its recent venture in medical cannabis clinical research. In September, the company published preliminary results regarding one of the company’s Good Manufacturing Practice (GMP) products. The results indicate that the product could be a promising means of reducing nausea and vomiting for cancer patients undergoing chemotherapy. With these findings and the current political landscape, TLRY stocks have earned its spot on this list.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Top Marijuana Stocks To Watch In Q4 2020: Aurora Cannabis Inc The first stock on this list is Aurora Cannabis Inc (ACB Stock Report). This can be seen in marijuana real estate company Innovative Industrial‘s (IIPR Stock Report) sudden growth of 20% this week. With its extended reach into the U.S. market, high-tech low-cost production facilities, and science-driven innovations, could it be a top marijuana stock to watch? | Top Marijuana Stocks To Watch In Q4 2020: Aurora Cannabis Inc The first stock on this list is Aurora Cannabis Inc (ACB Stock Report). Top Marijuana Stocks To Watch In Q4 2020: Canopy Growth Corp The next stock on this list is Canopy Growth Corp (CGC Stock Report). [Read More] Top Tech Stocks To Watch For Exposure To Bitcoin Top Marijuana Stocks To Watch In Q4 2020: Tilray Inc The final spot on this list goes to Tilray Inc (TLRY Stock Report). | Top Marijuana Stocks To Watch In Q4 2020: Aurora Cannabis Inc The first stock on this list is Aurora Cannabis Inc (ACB Stock Report). Top Marijuana Stocks To Watch In Q4 2020: Canopy Growth Corp The next stock on this list is Canopy Growth Corp (CGC Stock Report). [Read More] Top Tech Stocks To Watch For Exposure To Bitcoin Top Marijuana Stocks To Watch In Q4 2020: Tilray Inc The final spot on this list goes to Tilray Inc (TLRY Stock Report). | Top Marijuana Stocks To Watch In Q4 2020: Aurora Cannabis Inc The first stock on this list is Aurora Cannabis Inc (ACB Stock Report). Here’s 3 To Watch In November Marijuana stocks have seen a surge in overall interest this week. This acquisition is likely Aurora’s means of penetrating the U.S. cannabis market. |
37158.0 | 2020-11-06 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-U.S. homebuilders, cannabis stocks, CVS Health | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-u.s.-homebuilders-cannabis-stocks-cvs-health-2020-11-06 | nan | nan | Eikon search string for individual stock moves: STXBZ
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Wall Street's main indexes took a breather on Friday after sharp gains this week as Democrat Joe Biden edged closer to victory in a nail-biting election, while the monthly jobs report underlined the economic challenge facing America's next president. .N
At 1321 ET, the Dow Jones Industrial Average .DJI was down 0.17% at 28,342.95. The S&P 500 .SPX was down 0.02% at 3,509.59 and the Nasdaq Composite .IXIC was up 0.10% at 11,902.231. The top S&P 500 .PG.INX percentage gainers: ** CVS Health Corp , up 9.1% ** News Corp , up 8.1% The top three S&P 500 .PL.INX percentage losers: ** Flowserve Corp , down 9.6% ** Electronic Arts Inc , down 7.2% ** Regency Centers Corp , down 6.3% The top three NYSE .PG.N percentage gainers: ** Aurora Cannabis Inc , up 76.7% ** Cooper-Standard Holdings Inc , up 35.5% ** Modine Manufacturing Co , up 34.6% The top three NYSE .PL.N percentage losers: ** Maxar Technologies Inc , down 24.6% ** Quotient Technology Inc , down 23.3% ** Alteryx Inc , down 18% The top three Nasdaq .PG.O percentage gainers: ** Akerna Corp , up 44.2% ** Tilray Inc , up 39.9% ** Glu Mobile Inc , up 28.2% The top three Nasdaq .PL.O percentage losers: ** Assembly Biosciences Inc , down 67.5% ** Global Blood Therapeutics Inc , down 36.9% ** Anavex Life Sciences Corp , down 26.8% ** PetIQ PETQ.O: down 16.8%
BUZZ-Hits 6-mth low after Q3 sales misses estimates on pandemic hit ** Colony Capital CLNY.N: up 0.3%
BUZZ-Rises as loss narrows, core FFO rebounds ** Microchip Technology MCHP.O: up 6.3%
BUZZ-Gains as brokerages turn bullish after upbeat Q2 ** PulteGroup Inc PHM.N: down 3.0% ** Tri Pointe TPH.N: down 3.9% ** D.R. Horton Inc DHI.N: down 1.9% ** Toll Brothers Inc TOL.N: down 1.9% ** KB Home KBH.N: down 3.6% ** Lennar Corp LEN.N: down 3.1%
BUZZ-U.S. homebuilders: Drop after data shows U.S. job growth slows in October ** TrueCar Inc TRUE.O: down 22.4%
BUZZ-Drops after results, outlook disappoint ** Peloton PTON.O: down 1.0%
BUZZ-Brokerages turn bullish after upbeat Q1, shares up ** Axon Enterprises AAXN.O: up 12.9%
BUZZ-Taser maker Axon surges to record high after strong Q3 report ** Epizyme Inc EPZM.O: down 17.4%
BUZZ-Slumps on Q3 revenue miss ** HubSpot HUBS.N: up 16.1%
BUZZ-Surges on slew of PT hikes after upbeat Q3 ** Livent LTHM.N: up 9.0%
BUZZ-Posts biggest gain in over 1-1/2 years on extending Tesla contract ** Molecular Templates MTEM.O: down 25.8%
BUZZ-Falls as FDA puts cancer studies on hold after death of patient ** Pluralsight PS.O: down 24.3%
BUZZ-Plunges after Q3 billings miss estimate, brokerages cut PTs ** Sunrun RUN.O: up 1.8%
BUZZ-Roth Capital sees bright outlook, hikes PT ** Canopy Growth CGC.N: up 15.1% ** Cronos CRON.O: up 26.4% ** Tilray TLRY.O: up 39.9% ** Aurora Cannabis ACB.N: up 76.7%
BUZZ-Cannabis stocks surge as Biden edges closer to win ** AIG AIG.N: up 0.6%
BUZZ-Rises on plans for IPO or stake sale of life and retirement unit ** Marriott MAR.O: up 3.3%
BUZZ-Rises after surprise profit on travel rebound ** Roku Inc ROKU.O: up 13.1%
BUZZ-Rises as brokerages raise PTs after Q3 results ** Trade Desk TTD.O: up 26.8%
BUZZ-Eyes record high on results, forecast beat; Wall Street hikes PTs ** Full House Resorts Inc FLL.O: up 11.7%
BUZZ-Surges on surprise quarterly profit ** Tanger Factory Outlet SKT.N: up 8.7%
BUZZ-Gains on surprise Q3 profit ** Mogo MOGO.O: up 33.2%
BUZZ-Soars as platform supports use of Apple Pay, Google Pay ** Maxar Technologies MAXR.N: down 24.6%
BUZZ-Falls after Q3 revenue misses estimates ** Hershey HSY.N: up 1.8%
BUZZ-Rises on Q3 profit beat ** Glu Mobile GLUU.O: up 28.2%
BUZZ-Surges after raising full-year bookings forecast ** T-Mobile TMUS.O: up 5.8% BUZZ-Rises as brokerages hike PTs after strong Q3 results ** Dish Network DISH.O: up 2.3% BUZZ-Set for best day in three months on upbeat quarter ** Coty Inc COTY.N: up 15.4% BUZZ-Jumps on surprise quarterly profit ** Cloudflare Inc NET.N: up 16.7% BUZZ-Gains on upbeat Q3, PT hikes ** Charles & Colvard LTD CTHR.O: up 8.0% BUZZ-Shines on Q1 revenue beat ** Elanco Animal Health Inc ELAN.N: down 7.7% BUZZ-Falls on Q3 revenue miss ** Humanigen Inc HGEN.O: up 7.4% BUZZ-Up on COVID-19 drug development deal with U.S. DoD ** At Home Group HOME.N: down 6.7% BUZZ-Drops as Morgan Stanley shops large block ** GoPro GPRO.O: up 19.8% BUZZ-Set to hit near three-year high as Q3 results beat ** CVS Health CVS.N: up 9.1% BUZZ-Surges on Q3 profit beat, CEO change ** Zillow Group ZG.O: up 14.6% BUZZ-Rises on Q3 revenue beat, PT hikes ** Assembly Biosciences ASMB.O: down 67.5% BUZZ-Plunges as lead hepatitis drug fails mid-stage study ** Farfetch Ltd FTCH.N: up 12.3% BUZZ-Rises as Alibaba, Richemont look to $1.1 bln ** Electronic Arts EA.O: down 7.2% BUZZ-Falls as Q2 sales miss estimates ** Square Inc SQ.N: up 13.7% BUZZ-Shares rise after stellar Q3 ** Beckton Dickinson BDX.N: up 2.2% BUZZ-Analysts bullish after Q3 profit beat ** Alibaba Group Holding Ltd BABA.N: up 3.2% BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Bristol-Myers Squibb Co BMY.N: up 0.5% BUZZ-Street View: Bristol Myers' growth outlook remains positive ** iRhythm Technologies Inc IRTC.O: up 9.9% BUZZ-JPM says iRhythm well-positioned to weather COVID-19 hit, hikes PT
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 0.02%
Consumer Discretionary
.SPLRCD
down 0.28%
Consumer Staples
.SPLRCS
up 0.04%
Energy
.SPNY
down 1.92%
Financial
.SPSY
down 0.46%
Health
.SPXHC
up 0.51%
Industrial
.SPLRCI
up 0.02%
Information Technology
.SPLRCT
up 0.33%
Materials
.SPLRCM
up 0.12%
Real Estate
.SPLRCR
down 0.44%
Utilities
.SPLRCU
up 0.06%
(Compiled by Arunima Kumar)
((Arunima.Kumar@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Horton Inc DHI.N: down 1.9% ** Toll Brothers Inc TOL.N: down 1.9% ** KB Home KBH.N: down 3.6% ** Lennar Corp LEN.N: down 3.1% BUZZ-U.S. homebuilders: Drop after data shows U.S. job growth slows in October ** TrueCar Inc TRUE.O: down 22.4% BUZZ-Drops after results, outlook disappoint ** Peloton PTON.O: down 1.0% BUZZ-Brokerages turn bullish after upbeat Q1, shares up ** Axon Enterprises AAXN.O: up 12.9% BUZZ-Taser maker Axon surges to record high after strong Q3 report ** Epizyme Inc EPZM.O: down 17.4% BUZZ-Slumps on Q3 revenue miss ** HubSpot HUBS.N: up 16.1% BUZZ-Surges on slew of PT hikes after upbeat Q3 ** Livent LTHM.N: up 9.0% BUZZ-Posts biggest gain in over 1-1/2 years on extending Tesla contract ** Molecular Templates MTEM.O: down 25.8% BUZZ-Falls as FDA puts cancer studies on hold after death of patient ** Pluralsight PS.O: down 24.3% BUZZ-Plunges after Q3 billings miss estimate, brokerages cut PTs ** Sunrun RUN.O: up 1.8% BUZZ-Roth Capital sees bright outlook, hikes PT ** Canopy Growth CGC.N: up 15.1% ** Cronos CRON.O: up 26.4% ** Tilray TLRY.O: up 39.9% ** Aurora Cannabis ACB.N: up 76.7% BUZZ-Cannabis stocks surge as Biden edges closer to win ** AIG AIG.N: up 0.6% BUZZ-Rises on plans for IPO or stake sale of life and retirement unit ** Marriott MAR.O: up 3.3% BUZZ-Rises after surprise profit on travel rebound ** Roku Inc ROKU.O: up 13.1% BUZZ-Rises as brokerages raise PTs after Q3 results ** Trade Desk TTD.O: up 26.8% BUZZ-Eyes record high on results, forecast beat; Wall Street hikes PTs ** Full House Resorts Inc FLL.O: up 11.7% BUZZ-Surges on surprise quarterly profit ** Tanger Factory Outlet SKT.N: up 8.7% BUZZ-Gains on surprise Q3 profit ** Mogo MOGO.O: up 33.2% BUZZ-Soars as platform supports use of Apple Pay, Google Pay ** Maxar Technologies MAXR.N: down 24.6% BUZZ-Falls after Q3 revenue misses estimates ** Hershey HSY.N: up 1.8% BUZZ-Rises on Q3 profit beat ** Glu Mobile GLUU.O: up 28.2% BUZZ-Surges after raising full-year bookings forecast ** T-Mobile TMUS.O: up 5.8% BUZZ-Rises as brokerages hike PTs after strong Q3 results ** Dish Network DISH.O: up 2.3% BUZZ-Set for best day in three months on upbeat quarter ** Coty Inc COTY.N: up 15.4% BUZZ-Jumps on surprise quarterly profit ** Cloudflare Inc NET.N: up 16.7% BUZZ-Gains on upbeat Q3, PT hikes ** Charles & Colvard LTD CTHR.O: up 8.0% BUZZ-Shines on Q1 revenue beat ** Elanco Animal Health Inc ELAN.N: down 7.7% BUZZ-Falls on Q3 revenue miss ** Humanigen Inc HGEN.O: up 7.4% BUZZ-Up on COVID-19 drug development deal with U.S. DoD ** At Home Group HOME.N: down 6.7% BUZZ-Drops as Morgan Stanley shops large block ** GoPro GPRO.O: up 19.8% BUZZ-Set to hit near three-year high as Q3 results beat ** CVS Health CVS.N: up 9.1% BUZZ-Surges on Q3 profit beat, CEO change ** Zillow Group ZG.O: up 14.6% BUZZ-Rises on Q3 revenue beat, PT hikes ** Assembly Biosciences ASMB.O: down 67.5% BUZZ-Plunges as lead hepatitis drug fails mid-stage study ** Farfetch Ltd FTCH.N: up 12.3% BUZZ-Rises as Alibaba, Richemont look to $1.1 bln ** Electronic Arts EA.O: down 7.2% BUZZ-Falls as Q2 sales miss estimates ** Square Inc SQ.N: up 13.7% BUZZ-Shares rise after stellar Q3 ** Beckton Dickinson BDX.N: up 2.2% BUZZ-Analysts bullish after Q3 profit beat ** Alibaba Group Holding Ltd BABA.N: up 3.2% BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Bristol-Myers Squibb Co BMY.N: up 0.5% BUZZ-Street View: Bristol Myers' growth outlook remains positive ** iRhythm Technologies Inc IRTC.O: up 9.9% BUZZ-JPM says iRhythm well-positioned to weather COVID-19 hit, hikes PT The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes took a breather on Friday after sharp gains this week as Democrat Joe Biden edged closer to victory in a nail-biting election, while the monthly jobs report underlined the economic challenge facing America's next president. The top S&P 500 .PG.INX percentage gainers: ** CVS Health Corp , up 9.1% ** News Corp , up 8.1% The top three S&P 500 .PL.INX percentage losers: ** Flowserve Corp , down 9.6% ** Electronic Arts Inc , down 7.2% ** Regency Centers Corp , down 6.3% The top three NYSE .PG.N percentage gainers: ** Aurora Cannabis Inc , up 76.7% ** Cooper-Standard Holdings Inc , up 35.5% ** Modine Manufacturing Co , up 34.6% The top three NYSE .PL.N percentage losers: ** Maxar Technologies Inc , down 24.6% ** Quotient Technology Inc , down 23.3% ** Alteryx Inc , down 18% The top three Nasdaq .PG.O percentage gainers: ** Akerna Corp , up 44.2% ** Tilray Inc , up 39.9% ** Glu Mobile Inc , up 28.2% The top three Nasdaq .PL.O percentage losers: ** Assembly Biosciences Inc , down 67.5% ** Global Blood Therapeutics Inc , down 36.9% ** Anavex Life Sciences Corp , down 26.8% ** PetIQ PETQ.O: down 16.8% BUZZ-Hits 6-mth low after Q3 sales misses estimates on pandemic hit ** Colony Capital CLNY.N: up 0.3% BUZZ-Rises as loss narrows, core FFO rebounds ** Microchip Technology MCHP.O: up 6.3% BUZZ-Gains as brokerages turn bullish after upbeat Q2 ** PulteGroup Inc PHM.N: down 3.0% ** Tri Pointe TPH.N: down 3.9% ** D.R. | Horton Inc DHI.N: down 1.9% ** Toll Brothers Inc TOL.N: down 1.9% ** KB Home KBH.N: down 3.6% ** Lennar Corp LEN.N: down 3.1% BUZZ-U.S. homebuilders: Drop after data shows U.S. job growth slows in October ** TrueCar Inc TRUE.O: down 22.4% BUZZ-Drops after results, outlook disappoint ** Peloton PTON.O: down 1.0% BUZZ-Brokerages turn bullish after upbeat Q1, shares up ** Axon Enterprises AAXN.O: up 12.9% BUZZ-Taser maker Axon surges to record high after strong Q3 report ** Epizyme Inc EPZM.O: down 17.4% BUZZ-Slumps on Q3 revenue miss ** HubSpot HUBS.N: up 16.1% BUZZ-Surges on slew of PT hikes after upbeat Q3 ** Livent LTHM.N: up 9.0% BUZZ-Posts biggest gain in over 1-1/2 years on extending Tesla contract ** Molecular Templates MTEM.O: down 25.8% BUZZ-Falls as FDA puts cancer studies on hold after death of patient ** Pluralsight PS.O: down 24.3% BUZZ-Plunges after Q3 billings miss estimate, brokerages cut PTs ** Sunrun RUN.O: up 1.8% BUZZ-Roth Capital sees bright outlook, hikes PT ** Canopy Growth CGC.N: up 15.1% ** Cronos CRON.O: up 26.4% ** Tilray TLRY.O: up 39.9% ** Aurora Cannabis ACB.N: up 76.7% BUZZ-Cannabis stocks surge as Biden edges closer to win ** AIG AIG.N: up 0.6% BUZZ-Rises on plans for IPO or stake sale of life and retirement unit ** Marriott MAR.O: up 3.3% BUZZ-Rises after surprise profit on travel rebound ** Roku Inc ROKU.O: up 13.1% BUZZ-Rises as brokerages raise PTs after Q3 results ** Trade Desk TTD.O: up 26.8% BUZZ-Eyes record high on results, forecast beat; Wall Street hikes PTs ** Full House Resorts Inc FLL.O: up 11.7% BUZZ-Surges on surprise quarterly profit ** Tanger Factory Outlet SKT.N: up 8.7% BUZZ-Gains on surprise Q3 profit ** Mogo MOGO.O: up 33.2% BUZZ-Soars as platform supports use of Apple Pay, Google Pay ** Maxar Technologies MAXR.N: down 24.6% BUZZ-Falls after Q3 revenue misses estimates ** Hershey HSY.N: up 1.8% BUZZ-Rises on Q3 profit beat ** Glu Mobile GLUU.O: up 28.2% BUZZ-Surges after raising full-year bookings forecast ** T-Mobile TMUS.O: up 5.8% BUZZ-Rises as brokerages hike PTs after strong Q3 results ** Dish Network DISH.O: up 2.3% BUZZ-Set for best day in three months on upbeat quarter ** Coty Inc COTY.N: up 15.4% BUZZ-Jumps on surprise quarterly profit ** Cloudflare Inc NET.N: up 16.7% BUZZ-Gains on upbeat Q3, PT hikes ** Charles & Colvard LTD CTHR.O: up 8.0% BUZZ-Shines on Q1 revenue beat ** Elanco Animal Health Inc ELAN.N: down 7.7% BUZZ-Falls on Q3 revenue miss ** Humanigen Inc HGEN.O: up 7.4% BUZZ-Up on COVID-19 drug development deal with U.S. DoD ** At Home Group HOME.N: down 6.7% BUZZ-Drops as Morgan Stanley shops large block ** GoPro GPRO.O: up 19.8% BUZZ-Set to hit near three-year high as Q3 results beat ** CVS Health CVS.N: up 9.1% BUZZ-Surges on Q3 profit beat, CEO change ** Zillow Group ZG.O: up 14.6% BUZZ-Rises on Q3 revenue beat, PT hikes ** Assembly Biosciences ASMB.O: down 67.5% BUZZ-Plunges as lead hepatitis drug fails mid-stage study ** Farfetch Ltd FTCH.N: up 12.3% BUZZ-Rises as Alibaba, Richemont look to $1.1 bln ** Electronic Arts EA.O: down 7.2% BUZZ-Falls as Q2 sales miss estimates ** Square Inc SQ.N: up 13.7% BUZZ-Shares rise after stellar Q3 ** Beckton Dickinson BDX.N: up 2.2% BUZZ-Analysts bullish after Q3 profit beat ** Alibaba Group Holding Ltd BABA.N: up 3.2% BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Bristol-Myers Squibb Co BMY.N: up 0.5% BUZZ-Street View: Bristol Myers' growth outlook remains positive ** iRhythm Technologies Inc IRTC.O: up 9.9% BUZZ-JPM says iRhythm well-positioned to weather COVID-19 hit, hikes PT The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes took a breather on Friday after sharp gains this week as Democrat Joe Biden edged closer to victory in a nail-biting election, while the monthly jobs report underlined the economic challenge facing America's next president. The top S&P 500 .PG.INX percentage gainers: ** CVS Health Corp , up 9.1% ** News Corp , up 8.1% The top three S&P 500 .PL.INX percentage losers: ** Flowserve Corp , down 9.6% ** Electronic Arts Inc , down 7.2% ** Regency Centers Corp , down 6.3% The top three NYSE .PG.N percentage gainers: ** Aurora Cannabis Inc , up 76.7% ** Cooper-Standard Holdings Inc , up 35.5% ** Modine Manufacturing Co , up 34.6% The top three NYSE .PL.N percentage losers: ** Maxar Technologies Inc , down 24.6% ** Quotient Technology Inc , down 23.3% ** Alteryx Inc , down 18% The top three Nasdaq .PG.O percentage gainers: ** Akerna Corp , up 44.2% ** Tilray Inc , up 39.9% ** Glu Mobile Inc , up 28.2% The top three Nasdaq .PL.O percentage losers: ** Assembly Biosciences Inc , down 67.5% ** Global Blood Therapeutics Inc , down 36.9% ** Anavex Life Sciences Corp , down 26.8% ** PetIQ PETQ.O: down 16.8% BUZZ-Hits 6-mth low after Q3 sales misses estimates on pandemic hit ** Colony Capital CLNY.N: up 0.3% BUZZ-Rises as loss narrows, core FFO rebounds ** Microchip Technology MCHP.O: up 6.3% BUZZ-Gains as brokerages turn bullish after upbeat Q2 ** PulteGroup Inc PHM.N: down 3.0% ** Tri Pointe TPH.N: down 3.9% ** D.R. | Horton Inc DHI.N: down 1.9% ** Toll Brothers Inc TOL.N: down 1.9% ** KB Home KBH.N: down 3.6% ** Lennar Corp LEN.N: down 3.1% BUZZ-U.S. homebuilders: Drop after data shows U.S. job growth slows in October ** TrueCar Inc TRUE.O: down 22.4% BUZZ-Drops after results, outlook disappoint ** Peloton PTON.O: down 1.0% BUZZ-Brokerages turn bullish after upbeat Q1, shares up ** Axon Enterprises AAXN.O: up 12.9% BUZZ-Taser maker Axon surges to record high after strong Q3 report ** Epizyme Inc EPZM.O: down 17.4% BUZZ-Slumps on Q3 revenue miss ** HubSpot HUBS.N: up 16.1% BUZZ-Surges on slew of PT hikes after upbeat Q3 ** Livent LTHM.N: up 9.0% BUZZ-Posts biggest gain in over 1-1/2 years on extending Tesla contract ** Molecular Templates MTEM.O: down 25.8% BUZZ-Falls as FDA puts cancer studies on hold after death of patient ** Pluralsight PS.O: down 24.3% BUZZ-Plunges after Q3 billings miss estimate, brokerages cut PTs ** Sunrun RUN.O: up 1.8% BUZZ-Roth Capital sees bright outlook, hikes PT ** Canopy Growth CGC.N: up 15.1% ** Cronos CRON.O: up 26.4% ** Tilray TLRY.O: up 39.9% ** Aurora Cannabis ACB.N: up 76.7% BUZZ-Cannabis stocks surge as Biden edges closer to win ** AIG AIG.N: up 0.6% BUZZ-Rises on plans for IPO or stake sale of life and retirement unit ** Marriott MAR.O: up 3.3% BUZZ-Rises after surprise profit on travel rebound ** Roku Inc ROKU.O: up 13.1% BUZZ-Rises as brokerages raise PTs after Q3 results ** Trade Desk TTD.O: up 26.8% BUZZ-Eyes record high on results, forecast beat; Wall Street hikes PTs ** Full House Resorts Inc FLL.O: up 11.7% BUZZ-Surges on surprise quarterly profit ** Tanger Factory Outlet SKT.N: up 8.7% BUZZ-Gains on surprise Q3 profit ** Mogo MOGO.O: up 33.2% BUZZ-Soars as platform supports use of Apple Pay, Google Pay ** Maxar Technologies MAXR.N: down 24.6% BUZZ-Falls after Q3 revenue misses estimates ** Hershey HSY.N: up 1.8% BUZZ-Rises on Q3 profit beat ** Glu Mobile GLUU.O: up 28.2% BUZZ-Surges after raising full-year bookings forecast ** T-Mobile TMUS.O: up 5.8% BUZZ-Rises as brokerages hike PTs after strong Q3 results ** Dish Network DISH.O: up 2.3% BUZZ-Set for best day in three months on upbeat quarter ** Coty Inc COTY.N: up 15.4% BUZZ-Jumps on surprise quarterly profit ** Cloudflare Inc NET.N: up 16.7% BUZZ-Gains on upbeat Q3, PT hikes ** Charles & Colvard LTD CTHR.O: up 8.0% BUZZ-Shines on Q1 revenue beat ** Elanco Animal Health Inc ELAN.N: down 7.7% BUZZ-Falls on Q3 revenue miss ** Humanigen Inc HGEN.O: up 7.4% BUZZ-Up on COVID-19 drug development deal with U.S. DoD ** At Home Group HOME.N: down 6.7% BUZZ-Drops as Morgan Stanley shops large block ** GoPro GPRO.O: up 19.8% BUZZ-Set to hit near three-year high as Q3 results beat ** CVS Health CVS.N: up 9.1% BUZZ-Surges on Q3 profit beat, CEO change ** Zillow Group ZG.O: up 14.6% BUZZ-Rises on Q3 revenue beat, PT hikes ** Assembly Biosciences ASMB.O: down 67.5% BUZZ-Plunges as lead hepatitis drug fails mid-stage study ** Farfetch Ltd FTCH.N: up 12.3% BUZZ-Rises as Alibaba, Richemont look to $1.1 bln ** Electronic Arts EA.O: down 7.2% BUZZ-Falls as Q2 sales miss estimates ** Square Inc SQ.N: up 13.7% BUZZ-Shares rise after stellar Q3 ** Beckton Dickinson BDX.N: up 2.2% BUZZ-Analysts bullish after Q3 profit beat ** Alibaba Group Holding Ltd BABA.N: up 3.2% BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Bristol-Myers Squibb Co BMY.N: up 0.5% BUZZ-Street View: Bristol Myers' growth outlook remains positive ** iRhythm Technologies Inc IRTC.O: up 9.9% BUZZ-JPM says iRhythm well-positioned to weather COVID-19 hit, hikes PT The 11 major S&P 500 sectors: Communication Services .N At 1321 ET, the Dow Jones Industrial Average .DJI was down 0.17% at 28,342.95. The top S&P 500 .PG.INX percentage gainers: ** CVS Health Corp , up 9.1% ** News Corp , up 8.1% The top three S&P 500 .PL.INX percentage losers: ** Flowserve Corp , down 9.6% ** Electronic Arts Inc , down 7.2% ** Regency Centers Corp , down 6.3% The top three NYSE .PG.N percentage gainers: ** Aurora Cannabis Inc , up 76.7% ** Cooper-Standard Holdings Inc , up 35.5% ** Modine Manufacturing Co , up 34.6% The top three NYSE .PL.N percentage losers: ** Maxar Technologies Inc , down 24.6% ** Quotient Technology Inc , down 23.3% ** Alteryx Inc , down 18% The top three Nasdaq .PG.O percentage gainers: ** Akerna Corp , up 44.2% ** Tilray Inc , up 39.9% ** Glu Mobile Inc , up 28.2% The top three Nasdaq .PL.O percentage losers: ** Assembly Biosciences Inc , down 67.5% ** Global Blood Therapeutics Inc , down 36.9% ** Anavex Life Sciences Corp , down 26.8% ** PetIQ PETQ.O: down 16.8% BUZZ-Hits 6-mth low after Q3 sales misses estimates on pandemic hit ** Colony Capital CLNY.N: up 0.3% BUZZ-Rises as loss narrows, core FFO rebounds ** Microchip Technology MCHP.O: up 6.3% BUZZ-Gains as brokerages turn bullish after upbeat Q2 ** PulteGroup Inc PHM.N: down 3.0% ** Tri Pointe TPH.N: down 3.9% ** D.R. | Horton Inc DHI.N: down 1.9% ** Toll Brothers Inc TOL.N: down 1.9% ** KB Home KBH.N: down 3.6% ** Lennar Corp LEN.N: down 3.1% BUZZ-U.S. homebuilders: Drop after data shows U.S. job growth slows in October ** TrueCar Inc TRUE.O: down 22.4% BUZZ-Drops after results, outlook disappoint ** Peloton PTON.O: down 1.0% BUZZ-Brokerages turn bullish after upbeat Q1, shares up ** Axon Enterprises AAXN.O: up 12.9% BUZZ-Taser maker Axon surges to record high after strong Q3 report ** Epizyme Inc EPZM.O: down 17.4% BUZZ-Slumps on Q3 revenue miss ** HubSpot HUBS.N: up 16.1% BUZZ-Surges on slew of PT hikes after upbeat Q3 ** Livent LTHM.N: up 9.0% BUZZ-Posts biggest gain in over 1-1/2 years on extending Tesla contract ** Molecular Templates MTEM.O: down 25.8% BUZZ-Falls as FDA puts cancer studies on hold after death of patient ** Pluralsight PS.O: down 24.3% BUZZ-Plunges after Q3 billings miss estimate, brokerages cut PTs ** Sunrun RUN.O: up 1.8% BUZZ-Roth Capital sees bright outlook, hikes PT ** Canopy Growth CGC.N: up 15.1% ** Cronos CRON.O: up 26.4% ** Tilray TLRY.O: up 39.9% ** Aurora Cannabis ACB.N: up 76.7% BUZZ-Cannabis stocks surge as Biden edges closer to win ** AIG AIG.N: up 0.6% BUZZ-Rises on plans for IPO or stake sale of life and retirement unit ** Marriott MAR.O: up 3.3% BUZZ-Rises after surprise profit on travel rebound ** Roku Inc ROKU.O: up 13.1% BUZZ-Rises as brokerages raise PTs after Q3 results ** Trade Desk TTD.O: up 26.8% BUZZ-Eyes record high on results, forecast beat; Wall Street hikes PTs ** Full House Resorts Inc FLL.O: up 11.7% BUZZ-Surges on surprise quarterly profit ** Tanger Factory Outlet SKT.N: up 8.7% BUZZ-Gains on surprise Q3 profit ** Mogo MOGO.O: up 33.2% BUZZ-Soars as platform supports use of Apple Pay, Google Pay ** Maxar Technologies MAXR.N: down 24.6% BUZZ-Falls after Q3 revenue misses estimates ** Hershey HSY.N: up 1.8% BUZZ-Rises on Q3 profit beat ** Glu Mobile GLUU.O: up 28.2% BUZZ-Surges after raising full-year bookings forecast ** T-Mobile TMUS.O: up 5.8% BUZZ-Rises as brokerages hike PTs after strong Q3 results ** Dish Network DISH.O: up 2.3% BUZZ-Set for best day in three months on upbeat quarter ** Coty Inc COTY.N: up 15.4% BUZZ-Jumps on surprise quarterly profit ** Cloudflare Inc NET.N: up 16.7% BUZZ-Gains on upbeat Q3, PT hikes ** Charles & Colvard LTD CTHR.O: up 8.0% BUZZ-Shines on Q1 revenue beat ** Elanco Animal Health Inc ELAN.N: down 7.7% BUZZ-Falls on Q3 revenue miss ** Humanigen Inc HGEN.O: up 7.4% BUZZ-Up on COVID-19 drug development deal with U.S. DoD ** At Home Group HOME.N: down 6.7% BUZZ-Drops as Morgan Stanley shops large block ** GoPro GPRO.O: up 19.8% BUZZ-Set to hit near three-year high as Q3 results beat ** CVS Health CVS.N: up 9.1% BUZZ-Surges on Q3 profit beat, CEO change ** Zillow Group ZG.O: up 14.6% BUZZ-Rises on Q3 revenue beat, PT hikes ** Assembly Biosciences ASMB.O: down 67.5% BUZZ-Plunges as lead hepatitis drug fails mid-stage study ** Farfetch Ltd FTCH.N: up 12.3% BUZZ-Rises as Alibaba, Richemont look to $1.1 bln ** Electronic Arts EA.O: down 7.2% BUZZ-Falls as Q2 sales miss estimates ** Square Inc SQ.N: up 13.7% BUZZ-Shares rise after stellar Q3 ** Beckton Dickinson BDX.N: up 2.2% BUZZ-Analysts bullish after Q3 profit beat ** Alibaba Group Holding Ltd BABA.N: up 3.2% BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Bristol-Myers Squibb Co BMY.N: up 0.5% BUZZ-Street View: Bristol Myers' growth outlook remains positive ** iRhythm Technologies Inc IRTC.O: up 9.9% BUZZ-JPM says iRhythm well-positioned to weather COVID-19 hit, hikes PT The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes took a breather on Friday after sharp gains this week as Democrat Joe Biden edged closer to victory in a nail-biting election, while the monthly jobs report underlined the economic challenge facing America's next president. .N At 1321 ET, the Dow Jones Industrial Average .DJI was down 0.17% at 28,342.95. |
37159.0 | 2020-11-06 00:00:00 UTC | Stock Markets Pause as Square Gets a Bitcoin Boost; Aurora Cannabis Has High Hopes for New York | ACB | https://www.nasdaq.com/articles/stock-markets-pause-as-square-gets-a-bitcoin-boost-aurora-cannabis-has-high-hopes-for-new | nan | nan | Investors have been distracted by the presidential election all week; as of noon EST Friday, counting continued in key states. Yet market participants are also starting to take a look at other factors beyond the election results. After four straight days of big upward moves for the markets, Friday morning brought a more flattish performance.
However, earlier losses largely evaporated as major market benchmarks came close to the unchanged level by midday. As of just after 12:15 p.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 62 points to 28,328, and the S&P 500 (SNPINDEX: ^GSPC) eased lower by 2 points to 3,508. The Nasdaq Composite (NASDAQINDEX: ^IXIC) gave up 16 points to 11,875.
Earnings continued to play a role in supporting much of the stock market, and some of today's good news came from electronic-payments specialist Square (NYSE: SQ). Meanwhile, after a good day on Thursday, Aurora Cannabis (NYSE: ACB) positively soared on Friday amid comments that suggest some big new markets might open up for marijuana in the near future.
Hip to be Square
Square saw its stock jump 12% on Friday. The company released third-quarter results that showed just how influential the company's bitcoin business has been.
Total net revenue for Square soared 140% from year-ago levels, climbing above the $3 billion mark. More than half of that was attributable to bitcoin, as other revenue rose just 25%. Net income moved higher by 28% year over year.
Square was particularly pleased with several areas of its business. The Cash App ecosystem has done extremely well, with gross profit more than tripling from year-ago levels. Moreover, although the U.S. seller market continued to see headwinds from the COVID-19 pandemic, international gross payment volume for sellers jumped by 46%.
People are doing a lot more of their financial transactions by electronic payments, and that plays to Square's strengths. Add in a bull market in bitcoin, and you've got the recipe for the kind of blowout quarter that Square just reported.
Image source: Getty Images.
Aurora Cannabis shines brighter
The marijuana stock area has bounced big this week, and Friday brought some of the biggest gains of all. Aurora Cannabis in particular got a big push higher, with its stock skyrocketing more than 70% as of midday Friday.
For much of the week, investors in Aurora and other cannabis stocks have celebrated the passage of ballot measures supporting greater use of recreational and medical marijuana in key U.S. states. Late Thursday, for example, comments from Gov. Andrew Cuomo (D-New York state) laid open the prospect of legalizing marijuana in New York.
Cuomo's reasoning was a nod to financial reality at the state level. With states struggling in the aftermath of the pandemic, the governor believes that New York will have to legalize marijuana in pursuit of tax revenue to close budget shortfalls. The fact that neighboring New Jersey just approved pot could well have played a role in his comments as well.
To be clear, it'll take time for any New York legislation to move through the state government, and even then, Aurora in particular doesn't necessarily have the inside track to success in the Empire State. However, given how long marijuana stocks have suffered, it's not surprising to see investors hoping for a big turnaround from Aurora and its peers.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Meanwhile, after a good day on Thursday, Aurora Cannabis (NYSE: ACB) positively soared on Friday amid comments that suggest some big new markets might open up for marijuana in the near future. Earnings continued to play a role in supporting much of the stock market, and some of today's good news came from electronic-payments specialist Square (NYSE: SQ). For much of the week, investors in Aurora and other cannabis stocks have celebrated the passage of ballot measures supporting greater use of recreational and medical marijuana in key U.S. states. | Meanwhile, after a good day on Thursday, Aurora Cannabis (NYSE: ACB) positively soared on Friday amid comments that suggest some big new markets might open up for marijuana in the near future. Aurora Cannabis shines brighter The marijuana stock area has bounced big this week, and Friday brought some of the biggest gains of all. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | Meanwhile, after a good day on Thursday, Aurora Cannabis (NYSE: ACB) positively soared on Friday amid comments that suggest some big new markets might open up for marijuana in the near future. Hip to be Square Square saw its stock jump 12% on Friday. Find out why Square is one of the 10 best stocks to buy now Motley Fool co-founders Tom and David Gardner have spent more than a decade beating the market. | Meanwhile, after a good day on Thursday, Aurora Cannabis (NYSE: ACB) positively soared on Friday amid comments that suggest some big new markets might open up for marijuana in the near future. Hip to be Square Square saw its stock jump 12% on Friday. Aurora Cannabis in particular got a big push higher, with its stock skyrocketing more than 70% as of midday Friday. |
37160.0 | 2020-11-06 00:00:00 UTC | Why Marijuana Stocks Are Hopping on Friday | ACB | https://www.nasdaq.com/articles/why-marijuana-stocks-are-hopping-on-friday-2020-11-06 | nan | nan | What happened
It's Friday, and marijuana stocks are on fire. In late-morning trading, circa 11:20 a.m. EST, shares of industry giant Canopy Growth (NYSE: CGC) are up 10.9%, while smaller Tilray (NASDAQ: TLRY) and Aurora Cannabis (NYSE: ACB) are surging 33.8% and 63.2%, respectively.
You can thank New York Gov. Andrew Cuomo for that.
Image source: Getty Images.
So what
As you've probably heard, on Tuesday the state of New Jersey voted 66.9% to 33.1% to legalize the recreational use of marijuana. Yesterday, the governor of neighboring New York announced that it, too, could go the legalization route -- perhaps in 2021.
New York already permits the medical use of marijuana and has decriminalized possession of small amounts of the drug. But in an interview with local WAMC radio, Cuomo suggested that the conditions are now "ripe" to take the next logical step and legalize marijuana entirely.
Why? Well, with New Jersey's conversion, three of the states surrounding New York have now legalized marijuana, making it easy for any New Yorker who wants to buy it to cross a border and do so. Problem is, when they do so, the sales tax they pay on that purchase will go to someone other than New York, and with New York state strapped for cash, Cuomo thinks he'd rather keep those tax dollars at home.
Now what
Already this week, voters in Arizona, South Dakota, and Montana -- in addition to New Jersey -- have voted to legalize pot. That makes 15 states in which the drug is totally legal, at least under state law. Clearly, the legalization wave is gathering steam, and the addition of the nation's fourth-most-populous state to the ranks of "legal weed" states would only add to that momentum.
Investors buying Canopy Growth, Aurora Cannabis, and Tilray stocks today are just reading the writing on the wall, and it's plain as day they're right.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In late-morning trading, circa 11:20 a.m. EST, shares of industry giant Canopy Growth (NYSE: CGC) are up 10.9%, while smaller Tilray (NASDAQ: TLRY) and Aurora Cannabis (NYSE: ACB) are surging 33.8% and 63.2%, respectively. But in an interview with local WAMC radio, Cuomo suggested that the conditions are now "ripe" to take the next logical step and legalize marijuana entirely. Well, with New Jersey's conversion, three of the states surrounding New York have now legalized marijuana, making it easy for any New Yorker who wants to buy it to cross a border and do so. | In late-morning trading, circa 11:20 a.m. EST, shares of industry giant Canopy Growth (NYSE: CGC) are up 10.9%, while smaller Tilray (NASDAQ: TLRY) and Aurora Cannabis (NYSE: ACB) are surging 33.8% and 63.2%, respectively. Investors buying Canopy Growth, Aurora Cannabis, and Tilray stocks today are just reading the writing on the wall, and it's plain as day they're right. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | In late-morning trading, circa 11:20 a.m. EST, shares of industry giant Canopy Growth (NYSE: CGC) are up 10.9%, while smaller Tilray (NASDAQ: TLRY) and Aurora Cannabis (NYSE: ACB) are surging 33.8% and 63.2%, respectively. Well, with New Jersey's conversion, three of the states surrounding New York have now legalized marijuana, making it easy for any New Yorker who wants to buy it to cross a border and do so. Clearly, the legalization wave is gathering steam, and the addition of the nation's fourth-most-populous state to the ranks of "legal weed" states would only add to that momentum. | In late-morning trading, circa 11:20 a.m. EST, shares of industry giant Canopy Growth (NYSE: CGC) are up 10.9%, while smaller Tilray (NASDAQ: TLRY) and Aurora Cannabis (NYSE: ACB) are surging 33.8% and 63.2%, respectively. You can thank New York Gov. 10 stocks we like better than Aurora Cannabis Inc. |
37161.0 | 2020-11-06 00:00:00 UTC | CANADA STOCKS - TSX rises 0.01% to 16,299.55 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.01-to-16299.55-2020-11-06 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.01 percent to 16,299.55
* Leading the index were Aurora Cannabis Inc , up 56.7%, Cronos Group Inc CRON.TO, up 15.3%, and Ritchie Bros. Auctioneers Inc RBA.TO, higher by 10.7%.
* Lagging shares were Ballard Power Systems Inc BLDP.TO, down 6.6%, ARC Resources Ltd ARX.TO, down 5.6%, and Gildan Activewear Inc GIL.TO, lower by 5.5%.
* On the TSX 93 issues rose and 126 fell as a 0.7-to-1 ratio favored decliners. There were 19 new highs and no new lows, with total volume of 227.7 million shares.
* The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Aphria Inc APHA.TO and Enbridge Inc ENB.TO.
* The TSX's energy group .SPTTEN fell 0.88 points, or 1.3%, while the financials sector .SPTTFS slipped 0.28 points, or 0.1%.
* West Texas Intermediate crude futures CLc1 fell 3.56%, or $1.38, to $37.41 a barrel. Brent crude LCOc1 fell 3.01%, or $1.23, to $39.7 O/R
* The TSX is off 4.5% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Aphria Inc APHA.TO and Enbridge Inc ENB.TO. * The Toronto Stock Exchange's TSX rises 0.01 percent to 16,299.55 * Leading the index were Aurora Cannabis Inc , up 56.7%, Cronos Group Inc CRON.TO, up 15.3%, and Ritchie Bros. Auctioneers Inc RBA.TO, higher by 10.7%. * Lagging shares were Ballard Power Systems Inc BLDP.TO, down 6.6%, ARC Resources Ltd ARX.TO, down 5.6%, and Gildan Activewear Inc GIL.TO, lower by 5.5%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Aphria Inc APHA.TO and Enbridge Inc ENB.TO. * The Toronto Stock Exchange's TSX rises 0.01 percent to 16,299.55 * Leading the index were Aurora Cannabis Inc , up 56.7%, Cronos Group Inc CRON.TO, up 15.3%, and Ritchie Bros. Auctioneers Inc RBA.TO, higher by 10.7%. * The TSX's energy group .SPTTEN fell 0.88 points, or 1.3%, while the financials sector .SPTTFS slipped 0.28 points, or 0.1%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Aphria Inc APHA.TO and Enbridge Inc ENB.TO. * The Toronto Stock Exchange's TSX rises 0.01 percent to 16,299.55 * Leading the index were Aurora Cannabis Inc , up 56.7%, Cronos Group Inc CRON.TO, up 15.3%, and Ritchie Bros. Auctioneers Inc RBA.TO, higher by 10.7%. * The TSX's energy group .SPTTEN fell 0.88 points, or 1.3%, while the financials sector .SPTTFS slipped 0.28 points, or 0.1%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Aphria Inc APHA.TO and Enbridge Inc ENB.TO. * Lagging shares were Ballard Power Systems Inc BLDP.TO, down 6.6%, ARC Resources Ltd ARX.TO, down 5.6%, and Gildan Activewear Inc GIL.TO, lower by 5.5%. * On the TSX 93 issues rose and 126 fell as a 0.7-to-1 ratio favored decliners. |
37162.0 | 2020-11-06 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-GoPro, CVS Health, Disney, Aurora Cannabis | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-gopro-cvs-health-disney-aurora-cannabis-2020-11-06 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes gave back some of this week's sharp gains on Friday as investors awaited the outcome of a nail-biting election, while the monthly payrolls report underlined the economic challenge facing America's next president. .N
At 10:07 a.m. ET, the Dow Jones Industrial Average .DJI was down 0.52% at 28,243.35. The S&P 500 .SPX was down 0.56% at 3,490.82 and the Nasdaq Composite .IXIC was down 1.04% at 11,766.863. The top S&P 500 .PG.INX percentage gainers: ** News Corp , up 9.6% ** Mettler-Toledo , up 7.9% The top three S&P 500 .PL.INX percentage losers: ** Electronic Art Inc , down 10.6% ** NortonLifeLock Inc , down 5.4% ** Live Nation Entertainment Inc , down 5.1% The top three NYSE .PG.N percentage gainers: ** Aurora Cannabis Inc , up 48.3% ** FTS International Inc , up 43.9% ** Cooper-Standard Holdings Inc , up 30.2% The top three NYSE .PL.N percentage losers: ** Quotient Technology Inc , down 17.7% ** Alteryx Inc , down 15.6% ** New Relic Inc , down 14.8% The top three Nasdaq .PG.O percentage gainers: ** Mogo Inc , up 53.4% ** The Trade Desk, Inc , up 23.3% ** GoPro Inc, up 22.5% The top three Nasdaq .PL.O percentage losers: ** Assembly Biosciences Inc , down 67.7% ** Global Blood Therapeutics Inc , down 35.7% ** Truecar Inc , down 25.5% ** Marriott MAR.O: up 2.3%
BUZZ-Rises after surprise profit on travel rebound ** Roku Inc ROKU.O: up 10.4%
BUZZ-Rises as brokerages raise PTs after Q3 results ** Trade Desk TTD.O: up 23.3%
BUZZ-Eyes record high on results, forecast beat; Wall Street hikes PTs ** Full House Resorts Inc FLL.O: up 12.4%
BUZZ-Surges on surprise quarterly profit ** Equillium Inc EQ.O: down 1.9%
BUZZ-Rises on positive data on antibody to treat graft-versus-host disease ** Tanger Factory Outlet SKT.N: up 12.4%
BUZZ-Gains on surprise Q3 profit ** Mogo MOGO.O: up 53.4%
BUZZ-Soars as platform supports use of Apple Pay, Google Pay ** Maxar Technologies MAXR.N: down 14.3%
BUZZ-Falls after Q3 revenue misses estimates ** Hershey HSY.N: up 3.2%
BUZZ-Rises on Q3 profit beat ** Glu Mobile GLUU.O: up 21.4%
BUZZ-Surges after raising full-year bookings forecast ** ViacomCBS Inc VIACA.O: down 2.4% BUZZ-Rises on Q3 revenue beat ** T-Mobile TMUS.O: up 6.3% BUZZ-Rises as brokerages hike PTs after strong Q3 results ** Dish Network DISH.O: up 1.8% BUZZ-Set for best day in three months on upbeat quarter ** Coty Inc COTY.N: up 13.6% BUZZ-Jumps on surprise quarterly profit ** Cloudflare Inc NET.N: up 16.8% BUZZ-Gains on upbeat Q3, PT hikes ** Charles & Colvard LTD CTHR.O: up 7.4% BUZZ-Shines on Q1 revenue beat ** Elanco Animal Health Inc ELAN.N: down 7.9% BUZZ-Falls on Q3 revenue miss ** Humanigen Inc HGEN.O: up 7.1% BUZZ-Up on COVID-19 drug development deal with U.S. DoD ** At Home Group HOME.N: down 8.1% BUZZ-Drops as Morgan Stanley shops large block ** GoPro GPRO.O: up 22.5% BUZZ-Set to hit near three-year high as Q3 results beat ** CVS Health CVS.N: up 5.1% BUZZ-Surges on Q3 profit beat, CEO change ** Zillow Group ZG.O: up 11.1% BUZZ-Rises on Q3 revenue beat, PT hikes ** Assembly Biosciences ASMB.O: down 67.7% BUZZ-Plunges as lead hepatitis drug fails mid-stage study ** Disney DIS.N: down 1.8%
BUZZ-Falls as co delays release of "Death on the Nile" ** Farfetch Ltd FTCH.N: up 11.6% BUZZ-Rises as Alibaba, Richemont look to $1.1 bln ** Electronic Arts EA.O: down 10.6% BUZZ-Falls as Q2 sales miss estimates ** Square Inc SQ.N: up 8.4% BUZZ-Shares rise after stellar Q3 ** Beckton Dickinson BDX.N: up 2.1% BUZZ-Analysts bullish after Q3 profit beat ** Alibaba Group Holding Ltd BABA.N: up 2.6% BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Uber Technologies Inc UBER.N: up 4.9% BUZZ-Shares drop on dour results ** Bristol-Myers Squibb Co BMY.N: up 0.9% BUZZ-Street View: Bristol Myers' growth outlook remains positive ** iRhythm Technologies Inc IRTC.O: up 7.6% BUZZ-JPM says iRhythm well-positioned to weather COVID-19 hit, hikes PT
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 1.09%
Consumer Discretionary
.SPLRCD
down 1.21%
Consumer Staples
.SPLRCS
up 0.59%
Energy
.SPNY
up 0.42%
Financial
.SPSY
down 0.21%
Health
.SPXHC
up 0.10%
Industrial
.SPLRCI
up 0.13%
Information Technology
.SPLRCT
down 1.28%
Materials
.SPLRCM
up 0.80%
Real Estate
.SPLRCR
up 0.57%
Utilities
.SPLRCU
up 0.67%
(Complied by Arunima Kumar)
((Arunima.Kumar@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes gave back some of this week's sharp gains on Friday as investors awaited the outcome of a nail-biting election, while the monthly payrolls report underlined the economic challenge facing America's next president. The top S&P 500 .PG.INX percentage gainers: ** News Corp , up 9.6% ** Mettler-Toledo , up 7.9% The top three S&P 500 .PL.INX percentage losers: ** Electronic Art Inc , down 10.6% ** NortonLifeLock Inc , down 5.4% ** Live Nation Entertainment Inc , down 5.1% The top three NYSE .PG.N percentage gainers: ** Aurora Cannabis Inc , up 48.3% ** FTS International Inc , up 43.9% ** Cooper-Standard Holdings Inc , up 30.2% The top three NYSE .PL.N percentage losers: ** Quotient Technology Inc , down 17.7% ** Alteryx Inc , down 15.6% ** New Relic Inc , down 14.8% The top three Nasdaq .PG.O percentage gainers: ** Mogo Inc , up 53.4% ** The Trade Desk, Inc , up 23.3% ** GoPro Inc, up 22.5% The top three Nasdaq .PL.O percentage losers: ** Assembly Biosciences Inc , down 67.7% ** Global Blood Therapeutics Inc , down 35.7% ** Truecar Inc , down 25.5% ** Marriott MAR.O: up 2.3% BUZZ-Rises after surprise profit on travel rebound ** Roku Inc ROKU.O: up 10.4% BUZZ-Rises as brokerages raise PTs after Q3 results ** Trade Desk TTD.O: up 23.3% BUZZ-Eyes record high on results, forecast beat; Wall Street hikes PTs ** Full House Resorts Inc FLL.O: up 12.4% BUZZ-Surges on surprise quarterly profit ** Equillium Inc EQ.O: down 1.9% BUZZ-Rises on positive data on antibody to treat graft-versus-host disease ** Tanger Factory Outlet SKT.N: up 12.4% BUZZ-Gains on surprise Q3 profit ** Mogo MOGO.O: up 53.4% BUZZ-Soars as platform supports use of Apple Pay, Google Pay ** Maxar Technologies MAXR.N: down 14.3% BUZZ-Falls after Q3 revenue misses estimates ** Hershey HSY.N: up 3.2% BUZZ-Rises on Q3 profit beat ** Glu Mobile GLUU.O: up 21.4% BUZZ-Surges after raising full-year bookings forecast ** ViacomCBS Inc VIACA.O: down 2.4% BUZZ-Rises on Q3 revenue beat ** T-Mobile TMUS.O: up 6.3% BUZZ-Rises as brokerages hike PTs after strong Q3 results ** Dish Network DISH.O: up 1.8% BUZZ-Set for best day in three months on upbeat quarter ** Coty Inc COTY.N: up 13.6% BUZZ-Jumps on surprise quarterly profit ** Cloudflare Inc NET.N: up 16.8% BUZZ-Gains on upbeat Q3, PT hikes ** Charles & Colvard LTD CTHR.O: up 7.4% BUZZ-Shines on Q1 revenue beat ** Elanco Animal Health Inc ELAN.N: down 7.9% BUZZ-Falls on Q3 revenue miss ** Humanigen Inc HGEN.O: up 7.1% BUZZ-Up on COVID-19 drug development deal with U.S. DoD ** At Home Group HOME.N: down 8.1% BUZZ-Drops as Morgan Stanley shops large block ** GoPro GPRO.O: up 22.5% BUZZ-Set to hit near three-year high as Q3 results beat ** CVS Health CVS.N: up 5.1% BUZZ-Surges on Q3 profit beat, CEO change ** Zillow Group ZG.O: up 11.1% BUZZ-Rises on Q3 revenue beat, PT hikes ** Assembly Biosciences ASMB.O: down 67.7% BUZZ-Plunges as lead hepatitis drug fails mid-stage study ** Disney DIS.N: down 1.8% BUZZ-Falls as co delays release of "Death on the Nile" ** Farfetch Ltd FTCH.N: up 11.6% BUZZ-Rises as Alibaba, Richemont look to $1.1 bln ** Electronic Arts EA.O: down 10.6% BUZZ-Falls as Q2 sales miss estimates ** Square Inc SQ.N: up 8.4% BUZZ-Shares rise after stellar Q3 ** Beckton Dickinson BDX.N: up 2.1% BUZZ-Analysts bullish after Q3 profit beat ** Alibaba Group Holding Ltd BABA.N: up 2.6% BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Uber Technologies Inc UBER.N: up 4.9% BUZZ-Shares drop on dour results ** Bristol-Myers Squibb Co BMY.N: up 0.9% BUZZ-Street View: Bristol Myers' growth outlook remains positive ** iRhythm Technologies Inc IRTC.O: up 7.6% BUZZ-JPM says iRhythm well-positioned to weather COVID-19 hit, hikes PT The 11 major S&P 500 sectors: Communication Services up 0.67% (Complied by Arunima Kumar) ((Arunima.Kumar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes gave back some of this week's sharp gains on Friday as investors awaited the outcome of a nail-biting election, while the monthly payrolls report underlined the economic challenge facing America's next president. The top S&P 500 .PG.INX percentage gainers: ** News Corp , up 9.6% ** Mettler-Toledo , up 7.9% The top three S&P 500 .PL.INX percentage losers: ** Electronic Art Inc , down 10.6% ** NortonLifeLock Inc , down 5.4% ** Live Nation Entertainment Inc , down 5.1% The top three NYSE .PG.N percentage gainers: ** Aurora Cannabis Inc , up 48.3% ** FTS International Inc , up 43.9% ** Cooper-Standard Holdings Inc , up 30.2% The top three NYSE .PL.N percentage losers: ** Quotient Technology Inc , down 17.7% ** Alteryx Inc , down 15.6% ** New Relic Inc , down 14.8% The top three Nasdaq .PG.O percentage gainers: ** Mogo Inc , up 53.4% ** The Trade Desk, Inc , up 23.3% ** GoPro Inc, up 22.5% The top three Nasdaq .PL.O percentage losers: ** Assembly Biosciences Inc , down 67.7% ** Global Blood Therapeutics Inc , down 35.7% ** Truecar Inc , down 25.5% ** Marriott MAR.O: up 2.3% BUZZ-Rises after surprise profit on travel rebound ** Roku Inc ROKU.O: up 10.4% BUZZ-Rises as brokerages raise PTs after Q3 results ** Trade Desk TTD.O: up 23.3% BUZZ-Eyes record high on results, forecast beat; Wall Street hikes PTs ** Full House Resorts Inc FLL.O: up 12.4% BUZZ-Surges on surprise quarterly profit ** Equillium Inc EQ.O: down 1.9% BUZZ-Rises on positive data on antibody to treat graft-versus-host disease ** Tanger Factory Outlet SKT.N: up 12.4% BUZZ-Gains on surprise Q3 profit ** Mogo MOGO.O: up 53.4% BUZZ-Soars as platform supports use of Apple Pay, Google Pay ** Maxar Technologies MAXR.N: down 14.3% BUZZ-Falls after Q3 revenue misses estimates ** Hershey HSY.N: up 3.2% BUZZ-Rises on Q3 profit beat ** Glu Mobile GLUU.O: up 21.4% BUZZ-Surges after raising full-year bookings forecast ** ViacomCBS Inc VIACA.O: down 2.4% BUZZ-Rises on Q3 revenue beat ** T-Mobile TMUS.O: up 6.3% BUZZ-Rises as brokerages hike PTs after strong Q3 results ** Dish Network DISH.O: up 1.8% BUZZ-Set for best day in three months on upbeat quarter ** Coty Inc COTY.N: up 13.6% BUZZ-Jumps on surprise quarterly profit ** Cloudflare Inc NET.N: up 16.8% BUZZ-Gains on upbeat Q3, PT hikes ** Charles & Colvard LTD CTHR.O: up 7.4% BUZZ-Shines on Q1 revenue beat ** Elanco Animal Health Inc ELAN.N: down 7.9% BUZZ-Falls on Q3 revenue miss ** Humanigen Inc HGEN.O: up 7.1% BUZZ-Up on COVID-19 drug development deal with U.S. DoD ** At Home Group HOME.N: down 8.1% BUZZ-Drops as Morgan Stanley shops large block ** GoPro GPRO.O: up 22.5% BUZZ-Set to hit near three-year high as Q3 results beat ** CVS Health CVS.N: up 5.1% BUZZ-Surges on Q3 profit beat, CEO change ** Zillow Group ZG.O: up 11.1% BUZZ-Rises on Q3 revenue beat, PT hikes ** Assembly Biosciences ASMB.O: down 67.7% BUZZ-Plunges as lead hepatitis drug fails mid-stage study ** Disney DIS.N: down 1.8% BUZZ-Falls as co delays release of "Death on the Nile" ** Farfetch Ltd FTCH.N: up 11.6% BUZZ-Rises as Alibaba, Richemont look to $1.1 bln ** Electronic Arts EA.O: down 10.6% BUZZ-Falls as Q2 sales miss estimates ** Square Inc SQ.N: up 8.4% BUZZ-Shares rise after stellar Q3 ** Beckton Dickinson BDX.N: up 2.1% BUZZ-Analysts bullish after Q3 profit beat ** Alibaba Group Holding Ltd BABA.N: up 2.6% BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Uber Technologies Inc UBER.N: up 4.9% BUZZ-Shares drop on dour results ** Bristol-Myers Squibb Co BMY.N: up 0.9% BUZZ-Street View: Bristol Myers' growth outlook remains positive ** iRhythm Technologies Inc IRTC.O: up 7.6% BUZZ-JPM says iRhythm well-positioned to weather COVID-19 hit, hikes PT The 11 major S&P 500 sectors: Communication Services up 0.67% (Complied by Arunima Kumar) ((Arunima.Kumar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ET, the Dow Jones Industrial Average .DJI was down 0.52% at 28,243.35. The top S&P 500 .PG.INX percentage gainers: ** News Corp , up 9.6% ** Mettler-Toledo , up 7.9% The top three S&P 500 .PL.INX percentage losers: ** Electronic Art Inc , down 10.6% ** NortonLifeLock Inc , down 5.4% ** Live Nation Entertainment Inc , down 5.1% The top three NYSE .PG.N percentage gainers: ** Aurora Cannabis Inc , up 48.3% ** FTS International Inc , up 43.9% ** Cooper-Standard Holdings Inc , up 30.2% The top three NYSE .PL.N percentage losers: ** Quotient Technology Inc , down 17.7% ** Alteryx Inc , down 15.6% ** New Relic Inc , down 14.8% The top three Nasdaq .PG.O percentage gainers: ** Mogo Inc , up 53.4% ** The Trade Desk, Inc , up 23.3% ** GoPro Inc, up 22.5% The top three Nasdaq .PL.O percentage losers: ** Assembly Biosciences Inc , down 67.7% ** Global Blood Therapeutics Inc , down 35.7% ** Truecar Inc , down 25.5% ** Marriott MAR.O: up 2.3% BUZZ-Rises after surprise profit on travel rebound ** Roku Inc ROKU.O: up 10.4% BUZZ-Rises as brokerages raise PTs after Q3 results ** Trade Desk TTD.O: up 23.3% BUZZ-Eyes record high on results, forecast beat; Wall Street hikes PTs ** Full House Resorts Inc FLL.O: up 12.4% BUZZ-Surges on surprise quarterly profit ** Equillium Inc EQ.O: down 1.9% BUZZ-Rises on positive data on antibody to treat graft-versus-host disease ** Tanger Factory Outlet SKT.N: up 12.4% BUZZ-Gains on surprise Q3 profit ** Mogo MOGO.O: up 53.4% BUZZ-Soars as platform supports use of Apple Pay, Google Pay ** Maxar Technologies MAXR.N: down 14.3% BUZZ-Falls after Q3 revenue misses estimates ** Hershey HSY.N: up 3.2% BUZZ-Rises on Q3 profit beat ** Glu Mobile GLUU.O: up 21.4% BUZZ-Surges after raising full-year bookings forecast ** ViacomCBS Inc VIACA.O: down 2.4% BUZZ-Rises on Q3 revenue beat ** T-Mobile TMUS.O: up 6.3% BUZZ-Rises as brokerages hike PTs after strong Q3 results ** Dish Network DISH.O: up 1.8% BUZZ-Set for best day in three months on upbeat quarter ** Coty Inc COTY.N: up 13.6% BUZZ-Jumps on surprise quarterly profit ** Cloudflare Inc NET.N: up 16.8% BUZZ-Gains on upbeat Q3, PT hikes ** Charles & Colvard LTD CTHR.O: up 7.4% BUZZ-Shines on Q1 revenue beat ** Elanco Animal Health Inc ELAN.N: down 7.9% BUZZ-Falls on Q3 revenue miss ** Humanigen Inc HGEN.O: up 7.1% BUZZ-Up on COVID-19 drug development deal with U.S. DoD ** At Home Group HOME.N: down 8.1% BUZZ-Drops as Morgan Stanley shops large block ** GoPro GPRO.O: up 22.5% BUZZ-Set to hit near three-year high as Q3 results beat ** CVS Health CVS.N: up 5.1% BUZZ-Surges on Q3 profit beat, CEO change ** Zillow Group ZG.O: up 11.1% BUZZ-Rises on Q3 revenue beat, PT hikes ** Assembly Biosciences ASMB.O: down 67.7% BUZZ-Plunges as lead hepatitis drug fails mid-stage study ** Disney DIS.N: down 1.8% BUZZ-Falls as co delays release of "Death on the Nile" ** Farfetch Ltd FTCH.N: up 11.6% BUZZ-Rises as Alibaba, Richemont look to $1.1 bln ** Electronic Arts EA.O: down 10.6% BUZZ-Falls as Q2 sales miss estimates ** Square Inc SQ.N: up 8.4% BUZZ-Shares rise after stellar Q3 ** Beckton Dickinson BDX.N: up 2.1% BUZZ-Analysts bullish after Q3 profit beat ** Alibaba Group Holding Ltd BABA.N: up 2.6% BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Uber Technologies Inc UBER.N: up 4.9% BUZZ-Shares drop on dour results ** Bristol-Myers Squibb Co BMY.N: up 0.9% BUZZ-Street View: Bristol Myers' growth outlook remains positive ** iRhythm Technologies Inc IRTC.O: up 7.6% BUZZ-JPM says iRhythm well-positioned to weather COVID-19 hit, hikes PT The 11 major S&P 500 sectors: Communication Services down 1.09% Consumer Discretionary | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes gave back some of this week's sharp gains on Friday as investors awaited the outcome of a nail-biting election, while the monthly payrolls report underlined the economic challenge facing America's next president. ET, the Dow Jones Industrial Average .DJI was down 0.52% at 28,243.35. The S&P 500 .SPX was down 0.56% at 3,490.82 and the Nasdaq Composite .IXIC was down 1.04% at 11,766.863. |
37163.0 | 2020-11-06 00:00:00 UTC | After Hours Most Active for Nov 6, 2020 : MRO, INTC, AAPL, FHN, QQQ, ACB, BMY, SIRI, BAC, CMCSA, EMB, TGT | ACB | https://www.nasdaq.com/articles/after-hours-most-active-for-nov-6-2020-%3A-mro-intc-aapl-fhn-qqq-acb-bmy-siri-bac-cmcsa-emb | nan | nan | The NASDAQ 100 After Hours Indicator is up 3.72 to 12,095.07. The total After hours volume is currently 57,395,591 shares traded.
The following are the most active stocks for the after hours session:
Marathon Oil Corporation (MRO) is +0.03 at $4.16, with 3,933,973 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. The consensus EPS forecast is $-0.19. MRO's current last sale is 69.33% of the target price of $6.
Intel Corporation (INTC) is +0.0045 at $45.39, with 3,572,262 shares traded. Over the last four weeks they have had 10 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. The consensus EPS forecast is $1.1. INTC's current last sale is 81.79% of the target price of $55.5.
Apple Inc. (AAPL) is -0.1102 at $118.58, with 2,446,337 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. The consensus EPS forecast is $1.39. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
First Horizon National Corporation (FHN) is +0.08 at $10.75, with 1,821,204 shares traded. As reported by Zacks, the current mean recommendation for FHN is in the "buy range".
Invesco QQQ Trust, Series 1 (QQQ) is +0.24 at $294.85, with 1,778,075 shares traded. This represents a 78.77% increase from its 52 Week Low.
Aurora Cannabis Inc. (ACB) is -0.36 at $9.43, with 1,606,755 shares traded.ACB is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. The consensus earnings per share forecast is -0.24 per share, which represents a 12 percent increase over the EPS one Year Ago
Bristol-Myers Squibb Company (BMY) is -0.0064 at $63.79, with 1,377,072 shares traded. As reported by Zacks, the current mean recommendation for BMY is in the "buy range".
Sirius XM Holdings Inc. (SIRI) is -0.03 at $6.00, with 1,203,939 shares traded. As reported by Zacks, the current mean recommendation for SIRI is in the "buy range".
Bank of America Corporation (BAC) is +0.0024 at $24.31, with 1,203,656 shares traded. Over the last four weeks they have had 7 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. The consensus EPS forecast is $0.5. As reported by Zacks, the current mean recommendation for BAC is in the "buy range".
Comcast Corporation (CMCSA) is -0.0045 at $44.53, with 1,064,640 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. The consensus EPS forecast is $0.81. As reported by Zacks, the current mean recommendation for CMCSA is in the "buy range".
iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) is +0.01 at $112.76, with 1,022,398 shares traded. This represents a 32.66% increase from its 52 Week Low.
Target Corporation (TGT) is unchanged at $161.50, with 900,260 shares traded. As reported by Zacks, the current mean recommendation for TGT is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis Inc. (ACB) is -0.36 at $9.43, with 1,606,755 shares traded.ACB is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2021. iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) is +0.01 at $112.76, with 1,022,398 shares traded. | Aurora Cannabis Inc. (ACB) is -0.36 at $9.43, with 1,606,755 shares traded.ACB is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. Over the last four weeks they have had 10 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. | Aurora Cannabis Inc. (ACB) is -0.36 at $9.43, with 1,606,755 shares traded.ACB is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. Over the last four weeks they have had 10 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. | Aurora Cannabis Inc. (ACB) is -0.36 at $9.43, with 1,606,755 shares traded.ACB is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. The NASDAQ 100 After Hours Indicator is up 3.72 to 12,095.07. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. |
37164.0 | 2020-11-06 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Aurora Cannabis, Uber, GoPro Inc | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-aurora-cannabis-uber-gopro-inc-2020-11-06 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street was set to trim this week's more than 7% jump on Friday, ahead of a jobs report expected to underline the scale of the economic challenge awaiting America's next president. .N
At 6:33 a.m. ET, Dow e-minis 1YMc1 were down 0.51% at 28,154. S&P 500 e-minis ESc1 were down 0.69% at 3,480.5, while Nasdaq 100 e-minis NQc1 were down 1.01% at 11,955. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Aurora Cannabis Inc , up 18.0% ** Farfetch Ltd , up 11.1% ** Yelp Inc , up 10% The top three NYSE percentage losers premarket .PRPL.NQ: ** New Relic Inc , down 14% ** Alteryx Inc , down 9.4% ** Select Energy Services Inc , down 8.3% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sundial Growers Inc , up 35.4% ** GoPro Inc , up 22.4% ** Charles & Colvard Ltd , up 18.4% The top three Nasdaq percentage losers premarket .PRPL.O: ** Assembly Biosciences Inc , down 33.1% ** Global Blood Therapeutics Inc , down 28.7% ** Molecular Templates Inc , down 27% ** Alibaba Group Holding Ltd BABA.N: up 0.5% premarket BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Uber Technologies Inc UBER.N: down 3.3% premarket BUZZ-Shares drop on dour results ** Bristol-Myers Squibb Co BMY.N: up 0.1% premarket BUZZ-Street View: Bristol Myers' growth outlook remains positive
(Compiled by Arunima Kumar)
((arunima.kumar@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street was set to trim this week's more than 7% jump on Friday, ahead of a jobs report expected to underline the scale of the economic challenge awaiting America's next president. ET, Dow e-minis 1YMc1 were down 0.51% at 28,154. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Aurora Cannabis Inc , up 18.0% ** Farfetch Ltd , up 11.1% ** Yelp Inc , up 10% The top three NYSE percentage losers premarket .PRPL.NQ: ** New Relic Inc , down 14% ** Alteryx Inc , down 9.4% ** Select Energy Services Inc , down 8.3% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sundial Growers Inc , up 35.4% ** GoPro Inc , up 22.4% ** Charles & Colvard Ltd , up 18.4% The top three Nasdaq percentage losers premarket .PRPL.O: ** Assembly Biosciences Inc , down 33.1% ** Global Blood Therapeutics Inc , down 28.7% ** Molecular Templates Inc , down 27% ** Alibaba Group Holding Ltd BABA.N: up 0.5% premarket BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Uber Technologies Inc UBER.N: down 3.3% premarket BUZZ-Shares drop on dour results ** Bristol-Myers Squibb Co BMY.N: up 0.1% premarket BUZZ-Street View: Bristol Myers' growth outlook remains positive (Compiled by Arunima Kumar) ((arunima.kumar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street was set to trim this week's more than 7% jump on Friday, ahead of a jobs report expected to underline the scale of the economic challenge awaiting America's next president. S&P 500 e-minis ESc1 were down 0.69% at 3,480.5, while Nasdaq 100 e-minis NQc1 were down 1.01% at 11,955. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Aurora Cannabis Inc , up 18.0% ** Farfetch Ltd , up 11.1% ** Yelp Inc , up 10% The top three NYSE percentage losers premarket .PRPL.NQ: ** New Relic Inc , down 14% ** Alteryx Inc , down 9.4% ** Select Energy Services Inc , down 8.3% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sundial Growers Inc , up 35.4% ** GoPro Inc , up 22.4% ** Charles & Colvard Ltd , up 18.4% The top three Nasdaq percentage losers premarket .PRPL.O: ** Assembly Biosciences Inc , down 33.1% ** Global Blood Therapeutics Inc , down 28.7% ** Molecular Templates Inc , down 27% ** Alibaba Group Holding Ltd BABA.N: up 0.5% premarket BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Uber Technologies Inc UBER.N: down 3.3% premarket BUZZ-Shares drop on dour results ** Bristol-Myers Squibb Co BMY.N: up 0.1% premarket BUZZ-Street View: Bristol Myers' growth outlook remains positive (Compiled by Arunima Kumar) ((arunima.kumar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street was set to trim this week's more than 7% jump on Friday, ahead of a jobs report expected to underline the scale of the economic challenge awaiting America's next president. S&P 500 e-minis ESc1 were down 0.69% at 3,480.5, while Nasdaq 100 e-minis NQc1 were down 1.01% at 11,955. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Aurora Cannabis Inc , up 18.0% ** Farfetch Ltd , up 11.1% ** Yelp Inc , up 10% The top three NYSE percentage losers premarket .PRPL.NQ: ** New Relic Inc , down 14% ** Alteryx Inc , down 9.4% ** Select Energy Services Inc , down 8.3% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Sundial Growers Inc , up 35.4% ** GoPro Inc , up 22.4% ** Charles & Colvard Ltd , up 18.4% The top three Nasdaq percentage losers premarket .PRPL.O: ** Assembly Biosciences Inc , down 33.1% ** Global Blood Therapeutics Inc , down 28.7% ** Molecular Templates Inc , down 27% ** Alibaba Group Holding Ltd BABA.N: up 0.5% premarket BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Uber Technologies Inc UBER.N: down 3.3% premarket BUZZ-Shares drop on dour results ** Bristol-Myers Squibb Co BMY.N: up 0.1% premarket BUZZ-Street View: Bristol Myers' growth outlook remains positive (Compiled by Arunima Kumar) ((arunima.kumar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street was set to trim this week's more than 7% jump on Friday, ahead of a jobs report expected to underline the scale of the economic challenge awaiting America's next president. ET, Dow e-minis 1YMc1 were down 0.51% at 28,154. S&P 500 e-minis ESc1 were down 0.69% at 3,480.5, while Nasdaq 100 e-minis NQc1 were down 1.01% at 11,955. |
37165.0 | 2020-11-06 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-ViacomCBS, Coty, Aurora Cannabis, CVS Health | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-viacomcbs-coty-aurora-cannabis-cvs-health-2020-11-06 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes were set to take a breather on Friday after surging more than 7% this week as monthly payrolls data underlined the scale of the economic challenge awaiting America's next president. .N
At 9:03 a.m. ET, Dow e-minis 1YMc1 were up 0.02% at 28,304. S&P 500 e-minis ESc1 were down 0.19% at 3,498, while Nasdaq 100 e-minis NQc1 were down 0.49% at 12,016.75. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Aurora Cannabis Inc , up 26.6% ** Cooper-Standard Holdings Inc , up 20.3% ** Oak Street Health Inc , up 18.9% The top NYSE percentage losers premarket .PRPL.NQ: ** New Relic Inc , down 13.3% ** Quotient Technology Inc , down 12.3% The top Nasdaq percentage gainers premarket .PRPG.O: ** Mogo Inc , up 87.3% ** GoPro Inc , up 22.4% The top three Nasdaq percentage losers premarket .PRPL.O: ** Assembly Biosciences Inc , down 61.4% ** Global Blood Therapeutics Inc , down 32.9% ** Molecular Templates Inc , down 27.3%
** ViacomCBS Inc VIACA.O: up 0.6% premarket BUZZ-Rises on Q3 revenue beat ** T-Mobile TMUS.O: up 6.0% premarket BUZZ-Rises as brokerages hike PTs after strong Q3 results ** Dish Network DISH.O: up 4.3% premarket BUZZ-Set for best day in three months on upbeat quarter ** Coty Inc COTY.N: up 14.4% premarket BUZZ-Jumps on surprise quarterly profit ** Cloudflare Inc NET.N: up 11.3% premarket BUZZ-Gains on upbeat Q3, PT hikes ** Charles & Colvard LTD CTHR.O: up 18.4% premarket BUZZ-Shines on Q1 revenue beat ** Elanco Animal Health Inc ELAN.N : down 8.7% premarket BUZZ-Falls on Q3 revenue miss ** Humanigen Inc HGEN.O: up 12.5% premarket BUZZ-Up on COVID-19 drug development deal with U.S. DoD ** At Home Group HOME.N: down 4.9% premarket BUZZ-Drops as Morgan Stanley shops large block ** GoPro GPRO.O: up 22.4% premarket BUZZ-Set to hit near three-year high as Q3 results beat ** CVS Health CVS.N: up 3.2% premarket BUZZ-Surges on Q3 profit beat, CEO change ** Zillow Group ZG.O: up 8.3% premarket BUZZ-Rises on Q3 revenue beat, PT hikes ** Assembly Biosciences ASMB.O: down 61.4% premarket BUZZ-Plunges as lead hepatitis drug fails mid-stage study ** Disney DIS.N: down 0.1% premarket BUZZ-Falls as co delays release of "Death on the Nile" ** Farfetch Ltd FTCH.N: up 12.1% premarket BUZZ-Rises as Alibaba, Richemont look to $1.1 bln ** Electronic Arts EA.O: down 8.0% premarket BUZZ-Falls as Q2 sales miss estimates ** Alibaba Group Holding Ltd BABA.N: up 2.1% premarket BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Uber Technologies Inc UBER.N: up 0.3% premarket BUZZ-Shares drop on dour results ** Bristol Myers Squibb Co BMY.N: down 0.8% premarket BUZZ-Street View: Bristol Myers' growth outlook remains positive
(Compiled by Arunima Kumar)
((arunima.kumar@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to take a breather on Friday after surging more than 7% this week as monthly payrolls data underlined the scale of the economic challenge awaiting America's next president. ET, Dow e-minis 1YMc1 were up 0.02% at 28,304. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Aurora Cannabis Inc , up 26.6% ** Cooper-Standard Holdings Inc , up 20.3% ** Oak Street Health Inc , up 18.9% The top NYSE percentage losers premarket .PRPL.NQ: ** New Relic Inc , down 13.3% ** Quotient Technology Inc , down 12.3% The top Nasdaq percentage gainers premarket .PRPG.O: ** Mogo Inc , up 87.3% ** GoPro Inc , up 22.4% The top three Nasdaq percentage losers premarket .PRPL.O: ** Assembly Biosciences Inc , down 61.4% ** Global Blood Therapeutics Inc , down 32.9% ** Molecular Templates Inc , down 27.3% ** ViacomCBS Inc VIACA.O: up 0.6% premarket BUZZ-Rises on Q3 revenue beat ** T-Mobile TMUS.O: up 6.0% premarket BUZZ-Rises as brokerages hike PTs after strong Q3 results ** Dish Network DISH.O: up 4.3% premarket BUZZ-Set for best day in three months on upbeat quarter ** Coty Inc COTY.N: up 14.4% premarket BUZZ-Jumps on surprise quarterly profit ** Cloudflare Inc NET.N: up 11.3% premarket BUZZ-Gains on upbeat Q3, PT hikes ** Charles & Colvard LTD CTHR.O: up 18.4% premarket BUZZ-Shines on Q1 revenue beat ** Elanco Animal Health Inc ELAN.N : down 8.7% premarket BUZZ-Falls on Q3 revenue miss ** Humanigen Inc HGEN.O: up 12.5% premarket BUZZ-Up on COVID-19 drug development deal with U.S. DoD ** At Home Group HOME.N: down 4.9% premarket BUZZ-Drops as Morgan Stanley shops large block ** GoPro GPRO.O: up 22.4% premarket BUZZ-Set to hit near three-year high as Q3 results beat ** CVS Health CVS.N: up 3.2% premarket BUZZ-Surges on Q3 profit beat, CEO change ** Zillow Group ZG.O: up 8.3% premarket BUZZ-Rises on Q3 revenue beat, PT hikes ** Assembly Biosciences ASMB.O: down 61.4% premarket BUZZ-Plunges as lead hepatitis drug fails mid-stage study ** Disney DIS.N: down 0.1% premarket BUZZ-Falls as co delays release of "Death on the Nile" ** Farfetch Ltd FTCH.N: up 12.1% premarket BUZZ-Rises as Alibaba, Richemont look to $1.1 bln ** Electronic Arts EA.O: down 8.0% premarket BUZZ-Falls as Q2 sales miss estimates ** Alibaba Group Holding Ltd BABA.N: up 2.1% premarket BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Uber Technologies Inc UBER.N: up 0.3% premarket BUZZ-Shares drop on dour results ** Bristol Myers Squibb Co BMY.N: down 0.8% premarket BUZZ-Street View: Bristol Myers' growth outlook remains positive (Compiled by Arunima Kumar) ((arunima.kumar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to take a breather on Friday after surging more than 7% this week as monthly payrolls data underlined the scale of the economic challenge awaiting America's next president. S&P 500 e-minis ESc1 were down 0.19% at 3,498, while Nasdaq 100 e-minis NQc1 were down 0.49% at 12,016.75. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Aurora Cannabis Inc , up 26.6% ** Cooper-Standard Holdings Inc , up 20.3% ** Oak Street Health Inc , up 18.9% The top NYSE percentage losers premarket .PRPL.NQ: ** New Relic Inc , down 13.3% ** Quotient Technology Inc , down 12.3% The top Nasdaq percentage gainers premarket .PRPG.O: ** Mogo Inc , up 87.3% ** GoPro Inc , up 22.4% The top three Nasdaq percentage losers premarket .PRPL.O: ** Assembly Biosciences Inc , down 61.4% ** Global Blood Therapeutics Inc , down 32.9% ** Molecular Templates Inc , down 27.3% ** ViacomCBS Inc VIACA.O: up 0.6% premarket BUZZ-Rises on Q3 revenue beat ** T-Mobile TMUS.O: up 6.0% premarket BUZZ-Rises as brokerages hike PTs after strong Q3 results ** Dish Network DISH.O: up 4.3% premarket BUZZ-Set for best day in three months on upbeat quarter ** Coty Inc COTY.N: up 14.4% premarket BUZZ-Jumps on surprise quarterly profit ** Cloudflare Inc NET.N: up 11.3% premarket BUZZ-Gains on upbeat Q3, PT hikes ** Charles & Colvard LTD CTHR.O: up 18.4% premarket BUZZ-Shines on Q1 revenue beat ** Elanco Animal Health Inc ELAN.N : down 8.7% premarket BUZZ-Falls on Q3 revenue miss ** Humanigen Inc HGEN.O: up 12.5% premarket BUZZ-Up on COVID-19 drug development deal with U.S. DoD ** At Home Group HOME.N: down 4.9% premarket BUZZ-Drops as Morgan Stanley shops large block ** GoPro GPRO.O: up 22.4% premarket BUZZ-Set to hit near three-year high as Q3 results beat ** CVS Health CVS.N: up 3.2% premarket BUZZ-Surges on Q3 profit beat, CEO change ** Zillow Group ZG.O: up 8.3% premarket BUZZ-Rises on Q3 revenue beat, PT hikes ** Assembly Biosciences ASMB.O: down 61.4% premarket BUZZ-Plunges as lead hepatitis drug fails mid-stage study ** Disney DIS.N: down 0.1% premarket BUZZ-Falls as co delays release of "Death on the Nile" ** Farfetch Ltd FTCH.N: up 12.1% premarket BUZZ-Rises as Alibaba, Richemont look to $1.1 bln ** Electronic Arts EA.O: down 8.0% premarket BUZZ-Falls as Q2 sales miss estimates ** Alibaba Group Holding Ltd BABA.N: up 2.1% premarket BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Uber Technologies Inc UBER.N: up 0.3% premarket BUZZ-Shares drop on dour results ** Bristol Myers Squibb Co BMY.N: down 0.8% premarket BUZZ-Street View: Bristol Myers' growth outlook remains positive (Compiled by Arunima Kumar) ((arunima.kumar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to take a breather on Friday after surging more than 7% this week as monthly payrolls data underlined the scale of the economic challenge awaiting America's next president. S&P 500 e-minis ESc1 were down 0.19% at 3,498, while Nasdaq 100 e-minis NQc1 were down 0.49% at 12,016.75. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Aurora Cannabis Inc , up 26.6% ** Cooper-Standard Holdings Inc , up 20.3% ** Oak Street Health Inc , up 18.9% The top NYSE percentage losers premarket .PRPL.NQ: ** New Relic Inc , down 13.3% ** Quotient Technology Inc , down 12.3% The top Nasdaq percentage gainers premarket .PRPG.O: ** Mogo Inc , up 87.3% ** GoPro Inc , up 22.4% The top three Nasdaq percentage losers premarket .PRPL.O: ** Assembly Biosciences Inc , down 61.4% ** Global Blood Therapeutics Inc , down 32.9% ** Molecular Templates Inc , down 27.3% ** ViacomCBS Inc VIACA.O: up 0.6% premarket BUZZ-Rises on Q3 revenue beat ** T-Mobile TMUS.O: up 6.0% premarket BUZZ-Rises as brokerages hike PTs after strong Q3 results ** Dish Network DISH.O: up 4.3% premarket BUZZ-Set for best day in three months on upbeat quarter ** Coty Inc COTY.N: up 14.4% premarket BUZZ-Jumps on surprise quarterly profit ** Cloudflare Inc NET.N: up 11.3% premarket BUZZ-Gains on upbeat Q3, PT hikes ** Charles & Colvard LTD CTHR.O: up 18.4% premarket BUZZ-Shines on Q1 revenue beat ** Elanco Animal Health Inc ELAN.N : down 8.7% premarket BUZZ-Falls on Q3 revenue miss ** Humanigen Inc HGEN.O: up 12.5% premarket BUZZ-Up on COVID-19 drug development deal with U.S. DoD ** At Home Group HOME.N: down 4.9% premarket BUZZ-Drops as Morgan Stanley shops large block ** GoPro GPRO.O: up 22.4% premarket BUZZ-Set to hit near three-year high as Q3 results beat ** CVS Health CVS.N: up 3.2% premarket BUZZ-Surges on Q3 profit beat, CEO change ** Zillow Group ZG.O: up 8.3% premarket BUZZ-Rises on Q3 revenue beat, PT hikes ** Assembly Biosciences ASMB.O: down 61.4% premarket BUZZ-Plunges as lead hepatitis drug fails mid-stage study ** Disney DIS.N: down 0.1% premarket BUZZ-Falls as co delays release of "Death on the Nile" ** Farfetch Ltd FTCH.N: up 12.1% premarket BUZZ-Rises as Alibaba, Richemont look to $1.1 bln ** Electronic Arts EA.O: down 8.0% premarket BUZZ-Falls as Q2 sales miss estimates ** Alibaba Group Holding Ltd BABA.N: up 2.1% premarket BUZZ-Street View: Alibaba will bank on investments, cloud business for long run ** Uber Technologies Inc UBER.N: up 0.3% premarket BUZZ-Shares drop on dour results ** Bristol Myers Squibb Co BMY.N: down 0.8% premarket BUZZ-Street View: Bristol Myers' growth outlook remains positive (Compiled by Arunima Kumar) ((arunima.kumar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to take a breather on Friday after surging more than 7% this week as monthly payrolls data underlined the scale of the economic challenge awaiting America's next president. ET, Dow e-minis 1YMc1 were up 0.02% at 28,304. S&P 500 e-minis ESc1 were down 0.19% at 3,498, while Nasdaq 100 e-minis NQc1 were down 0.49% at 12,016.75. |
37166.0 | 2020-11-06 00:00:00 UTC | Pre-Market Most Active for Nov 6, 2020 : NIO, ACB, XPEV, SQQQ, LI, TLRY, AAPL, COTY, QQQ, TQQQ, GE, GSX | ACB | https://www.nasdaq.com/articles/pre-market-most-active-for-nov-6-2020-%3A-nio-acb-xpev-sqqq-li-tlry-aapl-coty-qqq-tqqq-ge | nan | nan | The NASDAQ 100 Pre-Market Indicator is down -79.92 to 11,998.15. The total Pre-Market volume is currently 39,966,323 shares traded.
The following are the most active stocks for the pre-market session:
NIO Inc. (NIO) is -1.2 at $41.15, with 11,282,191 shares traded., following a 52-week high recorded in prior regular session.
Aurora Cannabis Inc. (ACB) is +1.11 at $7.38, with 7,100,968 shares traded.ACB is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. The consensus earnings per share forecast is -0.24 per share, which represents a 12 percent increase over the EPS one Year Ago
XPeng Inc. (XPEV) is +1.66 at $37.51, with 5,112,306 shares traded.XPEV is scheduled to provide an earnings report on 11/12/2020, for the fiscal quarter ending Sep2020. The consensus earnings per share forecast is 999 per share, which represents a 99,900 percent increase over the EPS one Year Ago
ProShares UltraPro Short QQQ (SQQQ) is +0.53 at $19.43, with 2,746,388 shares traded., following a 52-week high recorded in prior regular session.
Li Auto Inc. (LI) is -0.87 at $27.22, with 2,160,926 shares traded.LI is scheduled to provide an earnings report on 11/13/2020, for the fiscal quarter ending Sep2020. The consensus earnings per share forecast is -0.04 per share, which represents a 99,900 percent increase over the EPS one Year Ago
Tilray, Inc. (TLRY) is +0.54 at $8.36, with 1,299,081 shares traded.TLRY is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. The consensus earnings per share forecast is -0.21 per share, which represents a -50 percent increase over the EPS one Year Ago
Apple Inc. (AAPL) is -1.675 at $117.15, with 1,183,648 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. The consensus EPS forecast is $1.39. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Coty Inc. (COTY) is +0.48 at $3.82, with 1,084,703 shares traded. Reuters Reports: Coty posts better-than-expected revenue on online strength
Invesco QQQ Trust, Series 1 (QQQ) is -2.85 at $291.54, with 938,861 shares traded. This represents a 76.77% increase from its 52 Week Low.
ProShares UltraPro QQQ (TQQQ) is -4.2799 at $146.61, with 626,091 shares traded. This represents a 354.32% increase from its 52 Week Low.
General Electric Company (GE) is -0.0399 at $7.95, with 575,405 shares traded. As reported by Zacks, the current mean recommendation for GE is in the "buy range".
GSX Techedu Inc. (GSX) is unchanged at $72.65, with 504,931 shares traded. GSX's current last sale is 129.16% of the target price of $56.25.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis Inc. (ACB) is +1.11 at $7.38, with 7,100,968 shares traded.ACB is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. ProShares UltraPro Short QQQ (SQQQ) is +0.53 at $19.43, with 2,746,388 shares traded., following a 52-week high recorded in prior regular session. Tilray, Inc. (TLRY) is +0.54 at $8.36, with 1,299,081 shares traded.TLRY is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. | Aurora Cannabis Inc. (ACB) is +1.11 at $7.38, with 7,100,968 shares traded.ACB is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. The consensus earnings per share forecast is -0.24 per share, which represents a 12 percent increase over the EPS one Year Ago The consensus earnings per share forecast is 999 per share, which represents a 99,900 percent increase over the EPS one Year Ago | Aurora Cannabis Inc. (ACB) is +1.11 at $7.38, with 7,100,968 shares traded.ACB is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. The consensus earnings per share forecast is -0.24 per share, which represents a 12 percent increase over the EPS one Year Ago The consensus earnings per share forecast is 999 per share, which represents a 99,900 percent increase over the EPS one Year Ago | Aurora Cannabis Inc. (ACB) is +1.11 at $7.38, with 7,100,968 shares traded.ACB is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. ProShares UltraPro Short QQQ (SQQQ) is +0.53 at $19.43, with 2,746,388 shares traded., following a 52-week high recorded in prior regular session. Apple Inc. (AAPL) is -1.675 at $117.15, with 1,183,648 shares traded. |
37167.0 | 2020-11-05 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE- Albemarle, Barrick Gold, Qualcomm, Nikola, Canopy Growth | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-albemarle-barrick-gold-qualcomm-nikola-canopy-growth-2020-11 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
U.S. stocks jumped on Thursday as bets on Republicans retaining control of the Senate eased worries of major policy changes that could hurt corporate America under a Joe Biden White House, even as the presidential election hung in balance. .N
At 12:32 ET, the Dow Jones Industrial Average .DJI was up 1.47% at 28,256.8. The S&P 500 .SPX was up 1.88% at 3,508.33 and the Nasdaq Composite .IXIC was up 2.37% at 11,865.586. The top three S&P 500 .PG.INX percentage gainers: ** Qualcomm Inc , up 13.1% ** Albemarle Corp , up 11.6% ** Parker-Hannifin Corp , up 10.1% The top three S&P 500 .PL.INX percentage losers: ** Hanesbrands , down 20.3% ** Biogen Inc , down 8.3% ** Incyte Corp , down 5.8% The top three NYSE .PG.N percentage gainers: ** Resideo Technologies , up 35.3% ** Aurora Cannabis , up 32.8% ** Sandridge Energy , up 29.4% The top three NYSE .PL.N percentage losers: ** Hanesbrands , down 20.3% ** Ping Idenity Holding , down 17% ** Direxion Daily Junior Gold Miners , down 15.1% The top three Nasdaq .PG.O percentage gainers: ** Altus Midstream , up 140.2 % ** Hall of Fame Resort & Entertainment Co , up 123.6 % ** Oncternal Therapeutics Inc , up 81.5 % The top three Nasdaq .PL.O percentage losers: ** Clovis Oncology , down 21.3 % ** Amyris Inc , down 17.9 % ** Lendingtree Inc , down 17.1 % ** Mastercard Inc MA.N : up 2.2% ** Visa Inc V.N : up 1.8%
BUZZ-U.S. card firms: Rise as investors turn to defensive stocks ** Tilray Inc TLRY.O : up 26.7% ** Aurora Cannabis ACB.N : up 32.8% ** Canopy Growth CGC.N : up 11.5% ** Cronos CRON.O : up 14.5% ** Sundial Growers SNDL.O: up 13.4%
BUZZ-Pot stocks fly high as Biden inches closer to White House ** Aphria Inc APHA.O : up 11.0%
BUZZ-Cannabis producer Aphria gains on deal to buy beer maker SweetWater ** Barrick ABX.TO : up 6.8%
BUZZ-Rises on upbeat Q3, dividend hike ** Canopy Growth CGC.N : up 11.5%
BUZZ-Rises on launch of CBD beverage line ** General Motors GM.N : up 1.9%
BUZZ-Jumps as rebound in truck, SUV sales drives Q3 beat ** Qualcomm Inc QCOM.O : up 13.1%
BUZZ-Jumps as brokerages raise PTs on strong Q1 forecast ** Match Group Inc MTCH.O : up 4.9%
BUZZ-Set to open at record high as Tinder drives Q3 beat ** Expedia EXPE.O : up 3.8%
BUZZ-Gains on smaller-than-expected Q3 loss ** Qualcomm Inc QCOM.O : up 13.1% ** Apple Inc AAPL.O : up 2.3%
BUZZ-Street View: 5G to provide blazing fast growth for Qualcomm ** Intercontinental Exchange ICE.N : up 2.4%
BUZZ-Rises as Thoma Bravo cashes out ** Bluebird Bio BLUE.O : down 14.8%
BUZZ-Analysts concerned over delay in sickle cell disease therapy application ** Expedia Group Inc EXPE.O: up 3.8%
BUZZ-up as brokerages turn bullish after smaller-than-expected Q3 loss ** Inogen Inc INGN.O : down 14.8% ** JPMorgan Chase JPM.N : up 3.9%
BUZZ-COVID-19 will continue to affect Inogen in the near term-JPM ** Ping Identity Holding PING.N : down 17.0%
BUZZ-slumps on weak Q4 subscription guide ** Electronic Arts EA.O : up 1.9%
BUZZ-Rises as co extends deals with UFC, NHL ** Cardinal Health CAH.N : up 5.9%
BUZZ-Rises on Q1 rev beat; Baird sees COVID-19 headwinds falling ** Nikola NKLA.O : up 4.1%
BUZZ-Set for best day in nearly a month ** Hall of Fame Resort HOFV.O : up 123.6%
BUZZ-Spikes on Sports Illustrated Studios media deal ** Resideo Tech REZI.N : up 35.3%
BUZZ-Jumps most on record on strong Q4 forecast ** Hanesbrands Inc HBI.N : down 20.3%
BUZZ-Down as pandemic hits Q3 sales ** Dominion Energy D.N : up 0.5%
BUZZ-Up on profit beat, outlook ** Qorvo Inc QRVO.O : up 7.6%
BUZZ-Surges as brokerages hike PTs after strong Q2 result ** New York Times NYT.N : down 3.9%
BUZZ-Down after warning of easing growth ** LendingTree Inc TREE.O : down 17.1%
BUZZ-Falls on lower Q3 revenue and profit ** Huntington Ingalls HII.N : up 3.5%
BUZZ-Military shipbuilder Huntington Ingalls rises after results beat
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 1.55%
Consumer Discretionary
.SPLRCD
up 1.67%
Consumer Staples
.SPLRCS
up 0.63%
Energy
.SPNY
up 0.58%
Financial
.SPSY
up 2.34%
Health
.SPXHC
up 0.07%
Industrial
.SPLRCI
up 2.28%
Information Technology
.SPLRCT
up 2.31%
Materials
.SPLRCM
up 4.05%
Real Estate
.SPLRCR
up 0.03%
Utilities
.SPLRCU
up 0.98%
(Reporting by Lasya Priya M in Bengaluru)
((LasyaPriya.M@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Qualcomm Inc , up 13.1% ** Albemarle Corp , up 11.6% ** Parker-Hannifin Corp , up 10.1% The top three S&P 500 .PL.INX percentage losers: ** Hanesbrands , down 20.3% ** Biogen Inc , down 8.3% ** Incyte Corp , down 5.8% The top three NYSE .PG.N percentage gainers: ** Resideo Technologies , up 35.3% ** Aurora Cannabis , up 32.8% ** Sandridge Energy , up 29.4% The top three NYSE .PL.N percentage losers: ** Hanesbrands , down 20.3% ** Ping Idenity Holding , down 17% ** Direxion Daily Junior Gold Miners , down 15.1% The top three Nasdaq .PG.O percentage gainers: ** Altus Midstream , up 140.2 % ** Hall of Fame Resort & Entertainment Co , up 123.6 % ** Oncternal Therapeutics Inc , up 81.5 % The top three Nasdaq .PL.O percentage losers: ** Clovis Oncology , down 21.3 % ** Amyris Inc , down 17.9 % ** Lendingtree Inc , down 17.1 % ** Mastercard Inc MA.N : up 2.2% ** Visa Inc V.N : up 1.8% BUZZ-U.S. card firms: Rise as investors turn to defensive stocks ** Tilray Inc TLRY.O : up 26.7% ** Aurora Cannabis ACB.N : up 32.8% ** Canopy Growth CGC.N : up 11.5% ** Cronos CRON.O : up 14.5% ** Sundial Growers SNDL.O: up 13.4% BUZZ-Pot stocks fly high as Biden inches closer to White House ** Aphria Inc APHA.O : up 11.0% BUZZ-Cannabis producer Aphria gains on deal to buy beer maker SweetWater ** Barrick ABX.TO : up 6.8% BUZZ-Rises on upbeat Q3, dividend hike ** Canopy Growth CGC.N : up 11.5% BUZZ-Rises on launch of CBD beverage line ** General Motors GM.N : up 1.9% BUZZ-Jumps as rebound in truck, SUV sales drives Q3 beat ** Qualcomm Inc QCOM.O : up 13.1% BUZZ-Jumps as brokerages raise PTs on strong Q1 forecast ** Match Group Inc MTCH.O : up 4.9% BUZZ-Set to open at record high as Tinder drives Q3 beat ** Expedia EXPE.O : up 3.8% BUZZ-Gains on smaller-than-expected Q3 loss ** Qualcomm Inc QCOM.O : up 13.1% ** Apple Inc AAPL.O : up 2.3% BUZZ-Street View: 5G to provide blazing fast growth for Qualcomm ** Intercontinental Exchange ICE.N : up 2.4% BUZZ-Rises as Thoma Bravo cashes out ** Bluebird Bio BLUE.O : down 14.8% BUZZ-Analysts concerned over delay in sickle cell disease therapy application ** Expedia Group Inc EXPE.O: up 3.8% BUZZ-up as brokerages turn bullish after smaller-than-expected Q3 loss ** Inogen Inc INGN.O : down 14.8% ** JPMorgan Chase JPM.N : up 3.9% BUZZ-COVID-19 will continue to affect Inogen in the near term-JPM ** Ping Identity Holding PING.N : down 17.0% BUZZ-slumps on weak Q4 subscription guide ** Electronic Arts EA.O : up 1.9% BUZZ-Rises as co extends deals with UFC, NHL ** Cardinal Health CAH.N : up 5.9% BUZZ-Rises on Q1 rev beat; Baird sees COVID-19 headwinds falling ** Nikola NKLA.O : up 4.1% BUZZ-Set for best day in nearly a month ** Hall of Fame Resort HOFV.O : up 123.6% BUZZ-Spikes on Sports Illustrated Studios media deal ** Resideo Tech REZI.N : up 35.3% BUZZ-Jumps most on record on strong Q4 forecast ** Hanesbrands Inc HBI.N : down 20.3% BUZZ-Down as pandemic hits Q3 sales ** Dominion Energy D.N : up 0.5% BUZZ-Up on profit beat, outlook ** Qorvo Inc QRVO.O : up 7.6% BUZZ-Surges as brokerages hike PTs after strong Q2 result ** New York Times NYT.N : down 3.9% BUZZ-Down after warning of easing growth ** LendingTree Inc TREE.O : down 17.1% BUZZ-Falls on lower Q3 revenue and profit ** Huntington Ingalls HII.N : up 3.5% BUZZ-Military shipbuilder Huntington Ingalls rises after results beat The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks jumped on Thursday as bets on Republicans retaining control of the Senate eased worries of major policy changes that could hurt corporate America under a Joe Biden White House, even as the presidential election hung in balance. up 0.98% (Reporting by Lasya Priya M in Bengaluru) ((LasyaPriya.M@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Qualcomm Inc , up 13.1% ** Albemarle Corp , up 11.6% ** Parker-Hannifin Corp , up 10.1% The top three S&P 500 .PL.INX percentage losers: ** Hanesbrands , down 20.3% ** Biogen Inc , down 8.3% ** Incyte Corp , down 5.8% The top three NYSE .PG.N percentage gainers: ** Resideo Technologies , up 35.3% ** Aurora Cannabis , up 32.8% ** Sandridge Energy , up 29.4% The top three NYSE .PL.N percentage losers: ** Hanesbrands , down 20.3% ** Ping Idenity Holding , down 17% ** Direxion Daily Junior Gold Miners , down 15.1% The top three Nasdaq .PG.O percentage gainers: ** Altus Midstream , up 140.2 % ** Hall of Fame Resort & Entertainment Co , up 123.6 % ** Oncternal Therapeutics Inc , up 81.5 % The top three Nasdaq .PL.O percentage losers: ** Clovis Oncology , down 21.3 % ** Amyris Inc , down 17.9 % ** Lendingtree Inc , down 17.1 % ** Mastercard Inc MA.N : up 2.2% ** Visa Inc V.N : up 1.8% BUZZ-U.S. card firms: Rise as investors turn to defensive stocks ** Tilray Inc TLRY.O : up 26.7% ** Aurora Cannabis ACB.N : up 32.8% ** Canopy Growth CGC.N : up 11.5% ** Cronos CRON.O : up 14.5% ** Sundial Growers SNDL.O: up 13.4% BUZZ-Pot stocks fly high as Biden inches closer to White House ** Aphria Inc APHA.O : up 11.0% BUZZ-Cannabis producer Aphria gains on deal to buy beer maker SweetWater ** Barrick ABX.TO : up 6.8% BUZZ-Rises on upbeat Q3, dividend hike ** Canopy Growth CGC.N : up 11.5% BUZZ-Rises on launch of CBD beverage line ** General Motors GM.N : up 1.9% BUZZ-Jumps as rebound in truck, SUV sales drives Q3 beat ** Qualcomm Inc QCOM.O : up 13.1% BUZZ-Jumps as brokerages raise PTs on strong Q1 forecast ** Match Group Inc MTCH.O : up 4.9% BUZZ-Set to open at record high as Tinder drives Q3 beat ** Expedia EXPE.O : up 3.8% BUZZ-Gains on smaller-than-expected Q3 loss ** Qualcomm Inc QCOM.O : up 13.1% ** Apple Inc AAPL.O : up 2.3% BUZZ-Street View: 5G to provide blazing fast growth for Qualcomm ** Intercontinental Exchange ICE.N : up 2.4% BUZZ-Rises as Thoma Bravo cashes out ** Bluebird Bio BLUE.O : down 14.8% BUZZ-Analysts concerned over delay in sickle cell disease therapy application ** Expedia Group Inc EXPE.O: up 3.8% BUZZ-up as brokerages turn bullish after smaller-than-expected Q3 loss ** Inogen Inc INGN.O : down 14.8% ** JPMorgan Chase JPM.N : up 3.9% BUZZ-COVID-19 will continue to affect Inogen in the near term-JPM ** Ping Identity Holding PING.N : down 17.0% BUZZ-slumps on weak Q4 subscription guide ** Electronic Arts EA.O : up 1.9% BUZZ-Rises as co extends deals with UFC, NHL ** Cardinal Health CAH.N : up 5.9% BUZZ-Rises on Q1 rev beat; Baird sees COVID-19 headwinds falling ** Nikola NKLA.O : up 4.1% BUZZ-Set for best day in nearly a month ** Hall of Fame Resort HOFV.O : up 123.6% BUZZ-Spikes on Sports Illustrated Studios media deal ** Resideo Tech REZI.N : up 35.3% BUZZ-Jumps most on record on strong Q4 forecast ** Hanesbrands Inc HBI.N : down 20.3% BUZZ-Down as pandemic hits Q3 sales ** Dominion Energy D.N : up 0.5% BUZZ-Up on profit beat, outlook ** Qorvo Inc QRVO.O : up 7.6% BUZZ-Surges as brokerages hike PTs after strong Q2 result ** New York Times NYT.N : down 3.9% BUZZ-Down after warning of easing growth ** LendingTree Inc TREE.O : down 17.1% BUZZ-Falls on lower Q3 revenue and profit ** Huntington Ingalls HII.N : up 3.5% BUZZ-Military shipbuilder Huntington Ingalls rises after results beat The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks jumped on Thursday as bets on Republicans retaining control of the Senate eased worries of major policy changes that could hurt corporate America under a Joe Biden White House, even as the presidential election hung in balance. up 0.98% (Reporting by Lasya Priya M in Bengaluru) ((LasyaPriya.M@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Qualcomm Inc , up 13.1% ** Albemarle Corp , up 11.6% ** Parker-Hannifin Corp , up 10.1% The top three S&P 500 .PL.INX percentage losers: ** Hanesbrands , down 20.3% ** Biogen Inc , down 8.3% ** Incyte Corp , down 5.8% The top three NYSE .PG.N percentage gainers: ** Resideo Technologies , up 35.3% ** Aurora Cannabis , up 32.8% ** Sandridge Energy , up 29.4% The top three NYSE .PL.N percentage losers: ** Hanesbrands , down 20.3% ** Ping Idenity Holding , down 17% ** Direxion Daily Junior Gold Miners , down 15.1% The top three Nasdaq .PG.O percentage gainers: ** Altus Midstream , up 140.2 % ** Hall of Fame Resort & Entertainment Co , up 123.6 % ** Oncternal Therapeutics Inc , up 81.5 % The top three Nasdaq .PL.O percentage losers: ** Clovis Oncology , down 21.3 % ** Amyris Inc , down 17.9 % ** Lendingtree Inc , down 17.1 % ** Mastercard Inc MA.N : up 2.2% ** Visa Inc V.N : up 1.8% BUZZ-U.S. card firms: Rise as investors turn to defensive stocks ** Tilray Inc TLRY.O : up 26.7% ** Aurora Cannabis ACB.N : up 32.8% ** Canopy Growth CGC.N : up 11.5% ** Cronos CRON.O : up 14.5% ** Sundial Growers SNDL.O: up 13.4% BUZZ-Pot stocks fly high as Biden inches closer to White House ** Aphria Inc APHA.O : up 11.0% BUZZ-Cannabis producer Aphria gains on deal to buy beer maker SweetWater ** Barrick ABX.TO : up 6.8% BUZZ-Rises on upbeat Q3, dividend hike ** Canopy Growth CGC.N : up 11.5% BUZZ-Rises on launch of CBD beverage line ** General Motors GM.N : up 1.9% BUZZ-Jumps as rebound in truck, SUV sales drives Q3 beat ** Qualcomm Inc QCOM.O : up 13.1% BUZZ-Jumps as brokerages raise PTs on strong Q1 forecast ** Match Group Inc MTCH.O : up 4.9% BUZZ-Set to open at record high as Tinder drives Q3 beat ** Expedia EXPE.O : up 3.8% BUZZ-Gains on smaller-than-expected Q3 loss ** Qualcomm Inc QCOM.O : up 13.1% ** Apple Inc AAPL.O : up 2.3% BUZZ-Street View: 5G to provide blazing fast growth for Qualcomm ** Intercontinental Exchange ICE.N : up 2.4% BUZZ-Rises as Thoma Bravo cashes out ** Bluebird Bio BLUE.O : down 14.8% BUZZ-Analysts concerned over delay in sickle cell disease therapy application ** Expedia Group Inc EXPE.O: up 3.8% BUZZ-up as brokerages turn bullish after smaller-than-expected Q3 loss ** Inogen Inc INGN.O : down 14.8% ** JPMorgan Chase JPM.N : up 3.9% BUZZ-COVID-19 will continue to affect Inogen in the near term-JPM ** Ping Identity Holding PING.N : down 17.0% BUZZ-slumps on weak Q4 subscription guide ** Electronic Arts EA.O : up 1.9% BUZZ-Rises as co extends deals with UFC, NHL ** Cardinal Health CAH.N : up 5.9% BUZZ-Rises on Q1 rev beat; Baird sees COVID-19 headwinds falling ** Nikola NKLA.O : up 4.1% BUZZ-Set for best day in nearly a month ** Hall of Fame Resort HOFV.O : up 123.6% BUZZ-Spikes on Sports Illustrated Studios media deal ** Resideo Tech REZI.N : up 35.3% BUZZ-Jumps most on record on strong Q4 forecast ** Hanesbrands Inc HBI.N : down 20.3% BUZZ-Down as pandemic hits Q3 sales ** Dominion Energy D.N : up 0.5% BUZZ-Up on profit beat, outlook ** Qorvo Inc QRVO.O : up 7.6% BUZZ-Surges as brokerages hike PTs after strong Q2 result ** New York Times NYT.N : down 3.9% BUZZ-Down after warning of easing growth ** LendingTree Inc TREE.O : down 17.1% BUZZ-Falls on lower Q3 revenue and profit ** Huntington Ingalls HII.N : up 3.5% BUZZ-Military shipbuilder Huntington Ingalls rises after results beat The 11 major S&P 500 sectors: Communication Services .N At 12:32 ET, the Dow Jones Industrial Average .DJI was up 1.47% at 28,256.8. up 1.55% Consumer Discretionary | The top three S&P 500 .PG.INX percentage gainers: ** Qualcomm Inc , up 13.1% ** Albemarle Corp , up 11.6% ** Parker-Hannifin Corp , up 10.1% The top three S&P 500 .PL.INX percentage losers: ** Hanesbrands , down 20.3% ** Biogen Inc , down 8.3% ** Incyte Corp , down 5.8% The top three NYSE .PG.N percentage gainers: ** Resideo Technologies , up 35.3% ** Aurora Cannabis , up 32.8% ** Sandridge Energy , up 29.4% The top three NYSE .PL.N percentage losers: ** Hanesbrands , down 20.3% ** Ping Idenity Holding , down 17% ** Direxion Daily Junior Gold Miners , down 15.1% The top three Nasdaq .PG.O percentage gainers: ** Altus Midstream , up 140.2 % ** Hall of Fame Resort & Entertainment Co , up 123.6 % ** Oncternal Therapeutics Inc , up 81.5 % The top three Nasdaq .PL.O percentage losers: ** Clovis Oncology , down 21.3 % ** Amyris Inc , down 17.9 % ** Lendingtree Inc , down 17.1 % ** Mastercard Inc MA.N : up 2.2% ** Visa Inc V.N : up 1.8% BUZZ-U.S. card firms: Rise as investors turn to defensive stocks ** Tilray Inc TLRY.O : up 26.7% ** Aurora Cannabis ACB.N : up 32.8% ** Canopy Growth CGC.N : up 11.5% ** Cronos CRON.O : up 14.5% ** Sundial Growers SNDL.O: up 13.4% BUZZ-Pot stocks fly high as Biden inches closer to White House ** Aphria Inc APHA.O : up 11.0% BUZZ-Cannabis producer Aphria gains on deal to buy beer maker SweetWater ** Barrick ABX.TO : up 6.8% BUZZ-Rises on upbeat Q3, dividend hike ** Canopy Growth CGC.N : up 11.5% BUZZ-Rises on launch of CBD beverage line ** General Motors GM.N : up 1.9% BUZZ-Jumps as rebound in truck, SUV sales drives Q3 beat ** Qualcomm Inc QCOM.O : up 13.1% BUZZ-Jumps as brokerages raise PTs on strong Q1 forecast ** Match Group Inc MTCH.O : up 4.9% BUZZ-Set to open at record high as Tinder drives Q3 beat ** Expedia EXPE.O : up 3.8% BUZZ-Gains on smaller-than-expected Q3 loss ** Qualcomm Inc QCOM.O : up 13.1% ** Apple Inc AAPL.O : up 2.3% BUZZ-Street View: 5G to provide blazing fast growth for Qualcomm ** Intercontinental Exchange ICE.N : up 2.4% BUZZ-Rises as Thoma Bravo cashes out ** Bluebird Bio BLUE.O : down 14.8% BUZZ-Analysts concerned over delay in sickle cell disease therapy application ** Expedia Group Inc EXPE.O: up 3.8% BUZZ-up as brokerages turn bullish after smaller-than-expected Q3 loss ** Inogen Inc INGN.O : down 14.8% ** JPMorgan Chase JPM.N : up 3.9% BUZZ-COVID-19 will continue to affect Inogen in the near term-JPM ** Ping Identity Holding PING.N : down 17.0% BUZZ-slumps on weak Q4 subscription guide ** Electronic Arts EA.O : up 1.9% BUZZ-Rises as co extends deals with UFC, NHL ** Cardinal Health CAH.N : up 5.9% BUZZ-Rises on Q1 rev beat; Baird sees COVID-19 headwinds falling ** Nikola NKLA.O : up 4.1% BUZZ-Set for best day in nearly a month ** Hall of Fame Resort HOFV.O : up 123.6% BUZZ-Spikes on Sports Illustrated Studios media deal ** Resideo Tech REZI.N : up 35.3% BUZZ-Jumps most on record on strong Q4 forecast ** Hanesbrands Inc HBI.N : down 20.3% BUZZ-Down as pandemic hits Q3 sales ** Dominion Energy D.N : up 0.5% BUZZ-Up on profit beat, outlook ** Qorvo Inc QRVO.O : up 7.6% BUZZ-Surges as brokerages hike PTs after strong Q2 result ** New York Times NYT.N : down 3.9% BUZZ-Down after warning of easing growth ** LendingTree Inc TREE.O : down 17.1% BUZZ-Falls on lower Q3 revenue and profit ** Huntington Ingalls HII.N : up 3.5% BUZZ-Military shipbuilder Huntington Ingalls rises after results beat The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks jumped on Thursday as bets on Republicans retaining control of the Senate eased worries of major policy changes that could hurt corporate America under a Joe Biden White House, even as the presidential election hung in balance. .N At 12:32 ET, the Dow Jones Industrial Average .DJI was up 1.47% at 28,256.8. |
37168.0 | 2020-11-05 00:00:00 UTC | Why Aurora Cannabis, Canopy Growth, and Tilray Stocks Are Rebounding Today | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-canopy-growth-and-tilray-stocks-are-rebounding-today-2020-11-05 | nan | nan | What happened
Shares of several top Canadian cannabis producers were rebounding today after significant drops on Wednesday. Aurora Cannabis (NYSE: ACB) stock was up 12% as of 9:47 a.m. EST. Shares of Tilray (NASDAQ: TLRY) were soaring 12.7%. Canopy Growth (NYSE: CGC) was up 3.7% after rising as much as 7.6%. Today's gains stemmed from the same reason that led to Wednesday's drops: the U.S. election outcomes.
However, there's a twist today. It looks increasingly more likely that former Vice President Joe Biden will win the presidential race. Also, Democrats could still have a shot at winning 50 votes in the U.S. Senate, which would effectively give them control in the chamber if Biden wins, since his running mate, Sen. Kamala Harris, would cast any tie-breaking votes if she becomes vice president.
So what
Canadian cannabis producers desperately seek to enter the lucrative U.S. cannabis market. They're prohibited from doing so and keeping their shares listed on major U.S. stock exchanges, though, because marijuana remains illegal at the federal level in the U.S.
Image source: Getty Images.
Sure, several of the biggest Canadian players compete in the U.S. hemp market. Aurora acquired U.S.-based hemp CBD company Reliva earlier this year. Canopy established hemp operations in the U.S. soon after the 2018 Farm Bill made hemp legal. Tilray acquired hemp foods producer Manitoba Harvest in early 2019. However, the U.S. marijuana market remained off-limits.
Many cannabis investors expected the Democrats to win a majority in the U.S. Senate and hold on to their majority in the House of Representatives in the 2020 elections. A Democratic-controlled Congress would have been much more likely to pass marijuana-reform legislation that has been blocked in the past by the GOP-controlled Senate. With a Democrat in the White House along with Democratic majorities in both houses, the potential for U.S. marijuana legalization, even if only for medical marijuana, was viewed as much higher.
To be sure, the vote count is still underway. However, Biden is currently leading in the popular vote and in the projected Electoral College vote. He also appears to be winning in enough uncalled battleground states to secure the Electoral College votes needed to win the presidency. Democrats are also in a solid position to retain a majority in the House of Representatives.
The outcome of the Senate races is less certain. As it stands right now, the GOP appears to be on track to have 50 seats in the Senate. Control of the Senate could hinge on which candidate wins a January runoff for one of two Senate seats in Georgia.
Now what
The bottom line is that the U.S. elections really aren't completely over yet. Until winners are declared in the several key Senate races and in the presidential race, the prospects for Aurora, Canopy, and Tilray will be in doubt. Look for increased volatility for most Canadian marijuana stocks in the meantime.
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Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) stock was up 12% as of 9:47 a.m. EST. What happened Shares of several top Canadian cannabis producers were rebounding today after significant drops on Wednesday. They're prohibited from doing so and keeping their shares listed on major U.S. stock exchanges, though, because marijuana remains illegal at the federal level in the U.S. | Aurora Cannabis (NYSE: ACB) stock was up 12% as of 9:47 a.m. EST. What happened Shares of several top Canadian cannabis producers were rebounding today after significant drops on Wednesday. It looks increasingly more likely that former Vice President Joe Biden will win the presidential race. | Aurora Cannabis (NYSE: ACB) stock was up 12% as of 9:47 a.m. EST. Also, Democrats could still have a shot at winning 50 votes in the U.S. Senate, which would effectively give them control in the chamber if Biden wins, since his running mate, Sen. Kamala Harris, would cast any tie-breaking votes if she becomes vice president. With a Democrat in the White House along with Democratic majorities in both houses, the potential for U.S. marijuana legalization, even if only for medical marijuana, was viewed as much higher. | Aurora Cannabis (NYSE: ACB) stock was up 12% as of 9:47 a.m. EST. Today's gains stemmed from the same reason that led to Wednesday's drops: the U.S. election outcomes. Also, Democrats could still have a shot at winning 50 votes in the U.S. Senate, which would effectively give them control in the chamber if Biden wins, since his running mate, Sen. Kamala Harris, would cast any tie-breaking votes if she becomes vice president. |
37169.0 | 2020-11-05 00:00:00 UTC | CANADA STOCKS-TSX climbs on materials boost, upbeat earnings | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-climbs-on-materials-boost-upbeat-earnings-2020-11-05 | nan | nan | Nov 5 (Reuters) - Canada's main stock index rose on Thursday, led by a surge in materials stocks and upbeat earnings from Canada Tire Corp Ltd CTCa.TO and Canada Goose Holdings Inc GOOS.TO.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, gained 3.9% as gold futures GCc1 jumped 2% as the dollar slipped. GOL/
* At 09:37 a.m. ET (14:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 270.69 points, or 1.69%, at 16,269.43.
* Luxury parka maker Canada Goose Holdings Inc GOOS.TO,GOOS.N beat estimates for quarterly revenue, while retailer Canadian Tire Corp Ltd CTCa.TO reported better-than-expected quarterly results.
* The largest percentage gainers on the TSX were Aurora Cannabis Inc ACB.TO, which jumped 11.2%, and Tourmaline Oil Corp TOU.TO, which rose 7.9% after multiple brokerages raised their price targets on the oil producer's stock.
* Aiding the upbeat mood was a 2.1% jump for the energy sector .SPTTEN, even though U.S. crude CLc1 prices were down 0.6% a barrel and Brent crude LCOc1 lost 0.3%. O/R
* The financials sector .SPTTFS gained 0.8%, while industrials .GSPTTIN rose 1.5%.
* On the TSX, 208 issues were higher, while 14 issues declined for a 14.86-to-1 ratio favouring gainers, with 17.72 million shares traded.
* Badger Daylighting Ltd BAD.TO was the biggest decliner on the TSX, falling 4.2% after the construction and engineering services provider missed third-quarter revenue estimates, followed by Stantec Inc STN.TO, down 3%.
* The most heavily traded shares by volume were Enbridge Inc ENB.TO, Bombardier Inc BBDb.TO, and Trevali Mining Corp TV.TO.
* The TSX posted nine new 52-week highs and no new low.
* Across all Canadian issues there were 25 new 52-week highs and one new low, with total volume of 32.41 million shares.
(Reporting by Amal S in Bengaluru; Editing by Sriraj Kalluvila)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The largest percentage gainers on the TSX were Aurora Cannabis Inc ACB.TO, which jumped 11.2%, and Tourmaline Oil Corp TOU.TO, which rose 7.9% after multiple brokerages raised their price targets on the oil producer's stock. * The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, gained 3.9% as gold futures GCc1 jumped 2% as the dollar slipped. * Badger Daylighting Ltd BAD.TO was the biggest decliner on the TSX, falling 4.2% after the construction and engineering services provider missed third-quarter revenue estimates, followed by Stantec Inc STN.TO, down 3%. | * The largest percentage gainers on the TSX were Aurora Cannabis Inc ACB.TO, which jumped 11.2%, and Tourmaline Oil Corp TOU.TO, which rose 7.9% after multiple brokerages raised their price targets on the oil producer's stock. Nov 5 (Reuters) - Canada's main stock index rose on Thursday, led by a surge in materials stocks and upbeat earnings from Canada Tire Corp Ltd CTCa.TO and Canada Goose Holdings Inc GOOS.TO. * Luxury parka maker Canada Goose Holdings Inc GOOS.TO,GOOS.N beat estimates for quarterly revenue, while retailer Canadian Tire Corp Ltd CTCa.TO reported better-than-expected quarterly results. | * The largest percentage gainers on the TSX were Aurora Cannabis Inc ACB.TO, which jumped 11.2%, and Tourmaline Oil Corp TOU.TO, which rose 7.9% after multiple brokerages raised their price targets on the oil producer's stock. Nov 5 (Reuters) - Canada's main stock index rose on Thursday, led by a surge in materials stocks and upbeat earnings from Canada Tire Corp Ltd CTCa.TO and Canada Goose Holdings Inc GOOS.TO. * Luxury parka maker Canada Goose Holdings Inc GOOS.TO,GOOS.N beat estimates for quarterly revenue, while retailer Canadian Tire Corp Ltd CTCa.TO reported better-than-expected quarterly results. | * The largest percentage gainers on the TSX were Aurora Cannabis Inc ACB.TO, which jumped 11.2%, and Tourmaline Oil Corp TOU.TO, which rose 7.9% after multiple brokerages raised their price targets on the oil producer's stock. Nov 5 (Reuters) - Canada's main stock index rose on Thursday, led by a surge in materials stocks and upbeat earnings from Canada Tire Corp Ltd CTCa.TO and Canada Goose Holdings Inc GOOS.TO. * The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, gained 3.9% as gold futures GCc1 jumped 2% as the dollar slipped. |
37170.0 | 2020-11-05 00:00:00 UTC | Pre-Market Most Active for Nov 5, 2020 : NIO, ACB, SQQQ, XPEV, BABA, AAPL, TLRY, QQQ, LI, GM, F, ZNGA | ACB | https://www.nasdaq.com/articles/pre-market-most-active-for-nov-5-2020-%3A-nio-acb-sqqq-xpev-baba-aapl-tlry-qqq-li-gm-f-znga | nan | nan | The NASDAQ 100 Pre-Market Indicator is up 282.12 to 12,059.14. The total Pre-Market volume is currently 29,602,298 shares traded.
The following are the most active stocks for the pre-market session:
NIO Inc. (NIO) is +1.16 at $38.87, with 6,406,831 shares traded., following a 52-week high recorded in prior regular session.
Aurora Cannabis Inc. (ACB) is +0.96 at $5.39, with 3,805,628 shares traded.ACB is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. The consensus earnings per share forecast is -0.24 per share, which represents a 12 percent increase over the EPS one Year Ago
ProShares UltraPro Short QQQ (SQQQ) is -1.57 at $18.91, with 2,841,952 shares traded. This represents a -.21% decrease from its 52 Week Low.
XPeng Inc. (XPEV) is +2.94 at $30.33, with 2,607,103 shares traded.XPEV is scheduled to provide an earnings report on 11/12/2020, for the fiscal quarter ending Sep2020. The consensus earnings per share forecast is 999 per share, which represents a 99,900 percent increase over the EPS one Year Ago
Alibaba Group Holding Limited (BABA) is -10.64 at $285.07, with 2,339,779 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. The consensus EPS forecast is $2.64. GlobeNewswire Reports: Atlas Air Worldwide Reports Third-Quarter 2020 Results
Apple Inc. (AAPL) is +2.9999 at $117.95, with 1,767,379 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. The consensus EPS forecast is $1.39. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Tilray, Inc. (TLRY) is +1.03 at $7.03, with 1,607,013 shares traded.TLRY is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. The consensus earnings per share forecast is -0.21 per share, which represents a -50 percent increase over the EPS one Year Ago
Invesco QQQ Trust, Series 1 (QQQ) is +7.39 at $294.30, with 1,302,665 shares traded. This represents a 78.44% increase from its 52 Week Low.
Li Auto Inc. (LI) is +1.58 at $26.89, with 1,173,312 shares traded., following a 52-week high recorded in prior regular session.
General Motors Company (GM) is +2.04 at $37.28, with 1,084,356 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2020. The consensus EPS forecast is $1.47. Reuters Reports: GM profit beat driven by strength in trucks, SUVs and China rebound
Ford Motor Company (F) is +0.13 at $7.77, with 983,254 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. The consensus EPS forecast is $-0.09. F's current last sale is 86.33% of the target price of $9.
Zynga Inc. (ZNGA) is -0.53 at $9.34, with 789,126 shares traded. As reported by Zacks, the current mean recommendation for ZNGA is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis Inc. (ACB) is +0.96 at $5.39, with 3,805,628 shares traded.ACB is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. XPeng Inc. (XPEV) is +2.94 at $30.33, with 2,607,103 shares traded.XPEV is scheduled to provide an earnings report on 11/12/2020, for the fiscal quarter ending Sep2020. Reuters Reports: GM profit beat driven by strength in trucks, SUVs and China rebound | Aurora Cannabis Inc. (ACB) is +0.96 at $5.39, with 3,805,628 shares traded.ACB is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. The consensus earnings per share forecast is -0.24 per share, which represents a 12 percent increase over the EPS one Year Ago The consensus earnings per share forecast is 999 per share, which represents a 99,900 percent increase over the EPS one Year Ago | Aurora Cannabis Inc. (ACB) is +0.96 at $5.39, with 3,805,628 shares traded.ACB is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. The consensus earnings per share forecast is -0.24 per share, which represents a 12 percent increase over the EPS one Year Ago The consensus earnings per share forecast is 999 per share, which represents a 99,900 percent increase over the EPS one Year Ago | Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. Aurora Cannabis Inc. (ACB) is +0.96 at $5.39, with 3,805,628 shares traded.ACB is scheduled to provide an earnings report on 11/9/2020, for the fiscal quarter ending Sep2020. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. |
37171.0 | 2020-11-05 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Card firms, Qualcomm, Bluebird, Expedia | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-card-firms-qualcomm-bluebird-expedia-2020-11-05 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
U.S. stock futures jumped on Thursday as investors bet that a Republican held Senate would block any moves by a Joe Biden administration to tighten regulation and raise taxes on corporate America, even as the presidential election remained too close to call. .N
At 7:03 a.m. ET, Dow e-minis 1YMc1 were up 1.41% at 28,127. S&P 500 e-minis ESc1 were up 1.90% at 3,500.25, while Nasdaq 100 e-minis NQc1 were up 2.73% at 12,084. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Aurora Cannabis Inc , up 20.8% ** Tenaris SA , up 14.7% ** Capri Holdings Ltd , up 13.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** HighPoint Resources Corp , down 15.9% ** Ping Identity Holding Corp , down 13.2% ** ION Geophysical Corp , down 10.1% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Hall Of Fame Resort & Entertainment Co , up 106.8% ** Hall of Fame Resort & Entertainment Equity Warrant , up 95.7% ** Kaixin Auto Holdings , up 69.7% The top three Nasdaq percentage losers premarket .PRPL.O: ** Bluebird Bio Inc , down 14% ** Marine Petroleum Trust , down 12.4% ** Aptevo Therapeutics Inc , down 10.2%
** Mastercard Inc MA.N : up 2.8% premarket ** Visa Inc V.N : up 1.5% premarket ** American Express Co AXP.N : up 0.3% premarket BUZZ-U.S. card firms: Rise as investors turn to defensive stocks ** Qualcomm Inc QCOM.O : up 15.0% premarket BUZZ-Jumps as brokerages raise PTs on strong Q1 forecast ** Match Group Inc MTCH.O : up 2.6% premarket BUZZ-Set to open at record high as Tinder drives Q3 beat ** Expedia EXPE.O : up 5.7% premarket BUZZ-Gains on smaller-than-expected Q3 loss ** GoDaddy Inc GDDY.N : up 2.8% premarket BUZZ-Rises on revenue beat, outlook ** Hologic Inc HOLX.O : up 3.1% premarket BUZZ-Gains as COVID-19 test demand boosts Q4 results ** bluebird bio Inc BLUE.O : down 14.0% premarket BUZZ-Falls after sickle cell disease therapy application pushed back ** Expedia Group Inc EXPE.O : up 5.7% premarket BUZZ-Up as brokerages turn bullish after smaller-than-expected Q3 loss
(Compiled by Lasya Priya M in Bengaluru)
((LasyaPriya.M@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock futures jumped on Thursday as investors bet that a Republican held Senate would block any moves by a Joe Biden administration to tighten regulation and raise taxes on corporate America, even as the presidential election remained too close to call. ET, Dow e-minis 1YMc1 were up 1.41% at 28,127. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Aurora Cannabis Inc , up 20.8% ** Tenaris SA , up 14.7% ** Capri Holdings Ltd , up 13.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** HighPoint Resources Corp , down 15.9% ** Ping Identity Holding Corp , down 13.2% ** ION Geophysical Corp , down 10.1% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Hall Of Fame Resort & Entertainment Co , up 106.8% ** Hall of Fame Resort & Entertainment Equity Warrant , up 95.7% ** Kaixin Auto Holdings , up 69.7% The top three Nasdaq percentage losers premarket .PRPL.O: ** Bluebird Bio Inc , down 14% ** Marine Petroleum Trust , down 12.4% ** Aptevo Therapeutics Inc , down 10.2% ** Mastercard Inc MA.N : up 2.8% premarket ** Visa Inc V.N : up 1.5% premarket ** American Express Co AXP.N : up 0.3% premarket BUZZ-U.S. card firms: Rise as investors turn to defensive stocks ** Qualcomm Inc QCOM.O : up 15.0% premarket BUZZ-Jumps as brokerages raise PTs on strong Q1 forecast ** Match Group Inc MTCH.O : up 2.6% premarket BUZZ-Set to open at record high as Tinder drives Q3 beat ** Expedia EXPE.O : up 5.7% premarket BUZZ-Gains on smaller-than-expected Q3 loss ** GoDaddy Inc GDDY.N : up 2.8% premarket BUZZ-Rises on revenue beat, outlook ** Hologic Inc HOLX.O : up 3.1% premarket BUZZ-Gains as COVID-19 test demand boosts Q4 results ** bluebird bio Inc BLUE.O : down 14.0% premarket BUZZ-Falls after sickle cell disease therapy application pushed back ** Expedia Group Inc EXPE.O : up 5.7% premarket BUZZ-Up as brokerages turn bullish after smaller-than-expected Q3 loss (Compiled by Lasya Priya M in Bengaluru) ((LasyaPriya.M@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock futures jumped on Thursday as investors bet that a Republican held Senate would block any moves by a Joe Biden administration to tighten regulation and raise taxes on corporate America, even as the presidential election remained too close to call. S&P 500 e-minis ESc1 were up 1.90% at 3,500.25, while Nasdaq 100 e-minis NQc1 were up 2.73% at 12,084. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Aurora Cannabis Inc , up 20.8% ** Tenaris SA , up 14.7% ** Capri Holdings Ltd , up 13.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** HighPoint Resources Corp , down 15.9% ** Ping Identity Holding Corp , down 13.2% ** ION Geophysical Corp , down 10.1% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Hall Of Fame Resort & Entertainment Co , up 106.8% ** Hall of Fame Resort & Entertainment Equity Warrant , up 95.7% ** Kaixin Auto Holdings , up 69.7% The top three Nasdaq percentage losers premarket .PRPL.O: ** Bluebird Bio Inc , down 14% ** Marine Petroleum Trust , down 12.4% ** Aptevo Therapeutics Inc , down 10.2% ** Mastercard Inc MA.N : up 2.8% premarket ** Visa Inc V.N : up 1.5% premarket ** American Express Co AXP.N : up 0.3% premarket BUZZ-U.S. card firms: Rise as investors turn to defensive stocks ** Qualcomm Inc QCOM.O : up 15.0% premarket BUZZ-Jumps as brokerages raise PTs on strong Q1 forecast ** Match Group Inc MTCH.O : up 2.6% premarket BUZZ-Set to open at record high as Tinder drives Q3 beat ** Expedia EXPE.O : up 5.7% premarket BUZZ-Gains on smaller-than-expected Q3 loss ** GoDaddy Inc GDDY.N : up 2.8% premarket BUZZ-Rises on revenue beat, outlook ** Hologic Inc HOLX.O : up 3.1% premarket BUZZ-Gains as COVID-19 test demand boosts Q4 results ** bluebird bio Inc BLUE.O : down 14.0% premarket BUZZ-Falls after sickle cell disease therapy application pushed back ** Expedia Group Inc EXPE.O : up 5.7% premarket BUZZ-Up as brokerages turn bullish after smaller-than-expected Q3 loss (Compiled by Lasya Priya M in Bengaluru) ((LasyaPriya.M@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock futures jumped on Thursday as investors bet that a Republican held Senate would block any moves by a Joe Biden administration to tighten regulation and raise taxes on corporate America, even as the presidential election remained too close to call. S&P 500 e-minis ESc1 were up 1.90% at 3,500.25, while Nasdaq 100 e-minis NQc1 were up 2.73% at 12,084. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Aurora Cannabis Inc , up 20.8% ** Tenaris SA , up 14.7% ** Capri Holdings Ltd , up 13.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** HighPoint Resources Corp , down 15.9% ** Ping Identity Holding Corp , down 13.2% ** ION Geophysical Corp , down 10.1% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Hall Of Fame Resort & Entertainment Co , up 106.8% ** Hall of Fame Resort & Entertainment Equity Warrant , up 95.7% ** Kaixin Auto Holdings , up 69.7% The top three Nasdaq percentage losers premarket .PRPL.O: ** Bluebird Bio Inc , down 14% ** Marine Petroleum Trust , down 12.4% ** Aptevo Therapeutics Inc , down 10.2% ** Mastercard Inc MA.N : up 2.8% premarket ** Visa Inc V.N : up 1.5% premarket ** American Express Co AXP.N : up 0.3% premarket BUZZ-U.S. card firms: Rise as investors turn to defensive stocks ** Qualcomm Inc QCOM.O : up 15.0% premarket BUZZ-Jumps as brokerages raise PTs on strong Q1 forecast ** Match Group Inc MTCH.O : up 2.6% premarket BUZZ-Set to open at record high as Tinder drives Q3 beat ** Expedia EXPE.O : up 5.7% premarket BUZZ-Gains on smaller-than-expected Q3 loss ** GoDaddy Inc GDDY.N : up 2.8% premarket BUZZ-Rises on revenue beat, outlook ** Hologic Inc HOLX.O : up 3.1% premarket BUZZ-Gains as COVID-19 test demand boosts Q4 results ** bluebird bio Inc BLUE.O : down 14.0% premarket BUZZ-Falls after sickle cell disease therapy application pushed back ** Expedia Group Inc EXPE.O : up 5.7% premarket BUZZ-Up as brokerages turn bullish after smaller-than-expected Q3 loss (Compiled by Lasya Priya M in Bengaluru) ((LasyaPriya.M@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock futures jumped on Thursday as investors bet that a Republican held Senate would block any moves by a Joe Biden administration to tighten regulation and raise taxes on corporate America, even as the presidential election remained too close to call. ET, Dow e-minis 1YMc1 were up 1.41% at 28,127. S&P 500 e-minis ESc1 were up 1.90% at 3,500.25, while Nasdaq 100 e-minis NQc1 were up 2.73% at 12,084. |
37172.0 | 2020-11-05 00:00:00 UTC | 3 Pot Stocks to Avoid Like the Plague in November | ACB | https://www.nasdaq.com/articles/3-pot-stocks-to-avoid-like-the-plague-in-november-2020-11-05 | nan | nan | Though investors' eyes are squarely on tech stocks, it's marijuana that could be one of the fastest-growing industries in North America over the next decade.
The latest edition of Marijuana Business Factbook from Marijuana Business Daily forecasts that legal weed sales in the U.S. could potentially triple to as much as $37 billion by 2024. With more U.S. states giving the green light to recreational and medical cannabis every year, and the Canadian industry working out its kinks, the sky's the limit for North American pot stocks -- well, most of them at least.
Even the fastest-growing industries have laggards that should be avoided at all costs by investors. In November, there are three pot stocks that cannabis stock investors would be wise to steer clear of.
Image source: Getty Images.
Canopy Growth
First up is Canopy Growth (NYSE: CGC), the largest pure-play marijuana stock by market cap.
There's a lot that investors seem to like about Canopy. For instance, it has the largest cash pile of any pure-play pot stock, and spirits giant Constellation Brands (NYSE: STZ) owns a nearly 38% stake in the company. This cash pile acts as something of a downside buffer for Canopy's share price, while Constellation serves as an invaluable (and vested) partner in its future.
However, any positives that investors can come up with for Canopy Growth will take a backseat to three sizable negative catalysts.
To begin with, Canopy Growth, like its Canadian licensed peers, is having to head-to-head with low-priced illicit cannabis from the black market. A combination of having to delay the launch of higher-margin derivatives, coupled with the strength of value cannabis, means Canopy Growth's margins are sinking.
Second, the company is losing money hand over fist. Even after shuttering 3 million square feet of licensed indoor cultivation, passing on the opening of the Niagara-on-the-Lake facility, laying off workers, and substantially cutting back on share-based compensation, Canopy Growth still lost $108.5 million Canadian dollars in the fiscal first quarter (ended June 30). It should be noted that even with substantive share-based compensation cuts, this expense still accounted for close to CA$31 million in first-quarter 2021 costs. According to Wall Street, it could be another four years before the company pushes into the profit column.
Third, the company's cash buffer isn't as safe as you might think. This cash pile stood at close to CA$5 billion following a November 2018 investment from Constellation Brands but has been whittled down to a little over CA$2 billion. Keep in mind this CA$2 billion includes CA$245 million from Constellation Brands exercising warrants earlier this year. Without this extra cash, Canopy would have burned through two-thirds of its cash in under two years.
In spite of its brand name and cash pile, Canopy Growth should be avoided by investors.
Image source: Getty Images.
Harvest Health & Recreation
Although U.S. pot stocks offer considerably more upside than Canadian licensed producers, not every U.S. marijuana stock is worth your hard-earned money. In November, vertically integrated multistate operator (MSO) Harvest Health & Recreation (OTC: HRVSF) is a name I'd suggest avoiding.
Around this time last year, I was actually very excited for the future of Harvest Health. It was taking an acquisition-heavy strategy that was designed to push its dispensary license count above 130 as well as extend its presence into more than a dozen states. The company also worked out an agreement in June 2019 with the Asian American Trade Associations Council (AATAC) to provide proprietary and wholesale cannabidiol (CBD) products to over 10,000 convenience stores and gas stations throughout the country.
Sounds like a pretty solid growth plan, right? Unfortunately, it's hit multiple snags.
For instance, the CBD growth train completely derailed in the latter half of 2019. The U.S. Food and Drug Administration decided not to allow CBD as an additive to food, beverages, and dietary supplements, which limited the applications for CBD. In other words, Harvest's CBD agreement with AATAC hasn't been the game-changer that investors expected.
Another problem is that Harvest Health bit off more than it could chew on the acquisition front. With marijuana industry dynamics shifting, Harvest was forced to call off two buyout agreements -- Falcon International and Verano Holdings -- and focus on cutting expenditures instead. Despite more than doubling sales in the second quarter, Harvest Health still lost $18.5 million. Relative to other major MSOs, it could be the last vertically integrated operator to generate a recurring profit.
While I don't dislike Harvest Health, its valuation makes little sense given how much this business still has to prove itself to Wall Street and investors.
Image source: Getty Images.
Aurora Cannabis
Absolutely no list of pot stocks to avoid like the plague is ever complete without Aurora Cannabis (NYSE: ACB) getting its time in the spotlight.
Aurora is the most popular cannabis stock among millennial investors and, until May, was the most-held stock on online investing app Robinhood. The company's push to become the world's top marijuana producer, as well as its access to two dozen markets outside of Canada, were expected to be insurmountable competitive advantages. But little has gone according to plan.
Aurora Cannabis can place some of the blame on Canadian regulatory agencies, which delayed the launch of high-margin derivatives, and were slow to approve cultivation and sales licenses. Provincial regulators in Ontario, Canada's most-populous province, haven't been much better. A now-abandoned lottery system to assign dispensary licenses yielded only 24 opened locations by the one-year anniversary of legalizing adult-use weed sales.
But deflecting everything on regulators would be a mistake. Aurora Cannabis is a poorly run company that has deservedly lost around 96% of its value over the past 19 months. It extended capacity well beyond what was needed domestically, struggled to generate significant revenue outside of Canada, and burned through its cash at a worrisome pace. The company's only answer to its capital concerns is to continue issuing shares of common stock that drown its shareholders.
Aurora Cannabis also grossly overpaid for all of its acquisitions. Most notably, the company paid CA$2.64 billion to acquire MedReleaf. Subsequent to the deal, Aurora has closed MedReleaf's Markham facility (7,000 kilos of annual output) and sold the 1-million-square-foot Exeter greenhouse for a meager CA$10.25 million. The final tally for this deal is 28,000 kilos of annual cannabis output and a handful of proprietary brands.
This continues to be one of the worst-run cannabis stocks throughout North America, and it should be avoided like the plague.
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Sean Williams has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Constellation Brands. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis Absolutely no list of pot stocks to avoid like the plague is ever complete without Aurora Cannabis (NYSE: ACB) getting its time in the spotlight. With more U.S. states giving the green light to recreational and medical cannabis every year, and the Canadian industry working out its kinks, the sky's the limit for North American pot stocks -- well, most of them at least. The company also worked out an agreement in June 2019 with the Asian American Trade Associations Council (AATAC) to provide proprietary and wholesale cannabidiol (CBD) products to over 10,000 convenience stores and gas stations throughout the country. | Aurora Cannabis Absolutely no list of pot stocks to avoid like the plague is ever complete without Aurora Cannabis (NYSE: ACB) getting its time in the spotlight. Canopy Growth First up is Canopy Growth (NYSE: CGC), the largest pure-play marijuana stock by market cap. For instance, it has the largest cash pile of any pure-play pot stock, and spirits giant Constellation Brands (NYSE: STZ) owns a nearly 38% stake in the company. | Aurora Cannabis Absolutely no list of pot stocks to avoid like the plague is ever complete without Aurora Cannabis (NYSE: ACB) getting its time in the spotlight. Canopy Growth First up is Canopy Growth (NYSE: CGC), the largest pure-play marijuana stock by market cap. Harvest Health & Recreation Although U.S. pot stocks offer considerably more upside than Canadian licensed producers, not every U.S. marijuana stock is worth your hard-earned money. | Aurora Cannabis Absolutely no list of pot stocks to avoid like the plague is ever complete without Aurora Cannabis (NYSE: ACB) getting its time in the spotlight. Canopy Growth First up is Canopy Growth (NYSE: CGC), the largest pure-play marijuana stock by market cap. In other words, Harvest's CBD agreement with AATAC hasn't been the game-changer that investors expected. |
37173.0 | 2020-11-05 00:00:00 UTC | 4 Top Stock Trades for Friday: NIO, ACB, TLRY, UPWK | ACB | https://www.nasdaq.com/articles/4-top-stock-trades-for-friday%3A-nio-acb-tlry-upwk-2020-11-05 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Stocks enjoyed another day of gains on Thursday, as investors continue to wait for the final results from the election. That said, let’s look at a few top stock trades going into the end of the week.
Top Stock Trades for Tomorrow No. 1: Nio (NIO)
Click to EnlargeSource: Chart courtesy of StockCharts.com
Nio (NYSE:NIO) stock continues its powerful move higher. Let’s take a minute to simply appreciate this rally. Nio’s problems started before Covid-19, with shares bottoming at $1.32 in October 2019. Since then, the stock has now rallied 3,250% after eclipsing $40 on Thursday.
Lately, the momentum has been robust with this one. In a series of bullish consolidations and breakouts, we’ve now seen the share price explode. Nio is up more than 38.5% this week alone.
Amid that move, the stock has taken out its 261.8% and three-times range extensions. That leaves its 361.8% extension in play up at $46.81, followed by $50.
7 Unicorn Startups to Watch Into 2021
On a dip, see that the 20-day moving average continues to hold as support.
Top Stock Trades for Tomorrow No. 2: Aurora Cannabis (ACB)
Click to EnlargeSource: Chart courtesy of StockCharts.com
Cannabis stocks have taken a beating this year, and specifically over the last few months. Now, they’re trying to mount a comeback.
Aurora Cannabis (NYSE:ACB) ended the day on Thursday up more than 41%. Importantly, it is reclaiming the 20-day moving average and the $5.50 area.
However, it’s struggling with the 50-day moving average and the $6.25 area. If shares can clear this zone, see if ACB stock can close above downtrend resistance (blue line) currently near $6.75. Above that and we could see a squeeze higher.
On the downside, though, I don’t want to see ACB lose $5.25. Below puts the 20-day moving average back on the table.
Top Stock Trades for Tomorrow No. 3: Tilray (TLRY)
Click to EnlargeSource: Chart courtesy of StockCharts.com
Tilray (NASDAQ:TLRY) is a similar situation to Aurora, although the stock has been trading better. Shares bottomed in late-September and put in a higher low last month. That was constructive although hardly convincing after such a disappointing fall.
In any regard, we’re seeing more strength now. Shares are above the 20-day and 50-day moving averages, and are also clearing a key level at $7.
Above there now, the 200-day moving average and $9 are on the table. Above that and a squeeze up toward the $10 to $11 area is possible.
Top 3 Dow Jones Stocks to Buy Now
However, back below $7 puts the 20-day and 50-day moving averages in play, followed by a test of prior downtrend resistance and/or the September lows, whichever comes first.
Top Stock Trades for Tomorrow No. 4: Upwork (UPWK)
Click to EnlargeSource: Chart courtesy of StockCharts.com
While Tilray and Aurora are both up huge on the day, both trail Upwork (NASDAQ:UPWK), which was up more than 53% at one point on Thursday. And ending Thursday up “just” 43%, it’s still a huge win for the bulls.
Bulls had a great surge followed by a perfect three-week dip to the 10-week moving average ahead of earnings. Then, this week’s wrath was unleashed on the bears. It sent UPWK stock up through the prior highs, an area that bulls now want to see hold as support on any dips.
That’s the $24 to $26 area, and I would certainly expect it to be support given the strength of this move.
As measured from the 2020 low to the 2019 high, the 138.2% extension comes into play at $32.59. The 161.8% extension can be used for a longer term target, at $37.27, should UPWK stock push through the 138.2% extension.
On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in any of the securities mentioned in this article.
Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.
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Daily Picks: Stocks to Buy Ahead of the Election
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 2: Aurora Cannabis (ACB) Aurora Cannabis (NYSE:ACB) ended the day on Thursday up more than 41%. If shares can clear this zone, see if ACB stock can close above downtrend resistance (blue line) currently near $6.75. | More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner Radical New Battery Could Dismantle Oil Markets Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company Daily Picks: Stocks to Buy Ahead of the Election The post 4 Top Stock Trades for Friday: NIO, ACB, TLRY, UPWK appeared first on InvestorPlace. 2: Aurora Cannabis (ACB) Aurora Cannabis (NYSE:ACB) ended the day on Thursday up more than 41%. | More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner Radical New Battery Could Dismantle Oil Markets Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company Daily Picks: Stocks to Buy Ahead of the Election The post 4 Top Stock Trades for Friday: NIO, ACB, TLRY, UPWK appeared first on InvestorPlace. 2: Aurora Cannabis (ACB) Aurora Cannabis (NYSE:ACB) ended the day on Thursday up more than 41%. | 2: Aurora Cannabis (ACB) Aurora Cannabis (NYSE:ACB) ended the day on Thursday up more than 41%. If shares can clear this zone, see if ACB stock can close above downtrend resistance (blue line) currently near $6.75. |
37174.0 | 2020-11-05 00:00:00 UTC | CANADA STOCKS - TSX rises 1.74% to 16,276.96 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-1.74-to-16276.96-2020-11-05 | nan | nan | * The Toronto Stock Exchange's TSX rises 1.74 percent to 16,276.96
* Leading the index were Aurora Cannabis Inc , up 38.1%, Lightspeed POS Inc LSPD.TO, up 15.7%, and Silvercrest Metals Inc SIL.TO, higher by 15.6%.
* Lagging shares were Badger Daylighting Ltd BAD.TO, down 12.6%, Norbord Inc OSB.TO, down 4.1%, and Stantec Inc STN.TO, lower by 3.7%.
* On the TSX 170 issues rose and 52 fell as a 3.3-to-1 ratio favored advancers. There were 15 new highs and no new lows, with total volume of 206.3 million shares.
* The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Aphria Inc APHA.TO and Enbridge Inc ENB.TO.
* The TSX's energy group .SPTTEN rose 0.32 points, or 0.5%, while the financials sector .SPTTFS climbed 0.43 points, or 0.2%.
* West Texas Intermediate crude futures CLc1 fell 1.61%, or $0.63, to $38.52 a barrel. Brent crude LCOc1 fell 1.24%, or $0.51, to $40.72 O/R
* The TSX is off 4.6% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Aphria Inc APHA.TO and Enbridge Inc ENB.TO. * The Toronto Stock Exchange's TSX rises 1.74 percent to 16,276.96 * Leading the index were Aurora Cannabis Inc , up 38.1%, Lightspeed POS Inc LSPD.TO, up 15.7%, and Silvercrest Metals Inc SIL.TO, higher by 15.6%. * Lagging shares were Badger Daylighting Ltd BAD.TO, down 12.6%, Norbord Inc OSB.TO, down 4.1%, and Stantec Inc STN.TO, lower by 3.7%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Aphria Inc APHA.TO and Enbridge Inc ENB.TO. * The Toronto Stock Exchange's TSX rises 1.74 percent to 16,276.96 * Leading the index were Aurora Cannabis Inc , up 38.1%, Lightspeed POS Inc LSPD.TO, up 15.7%, and Silvercrest Metals Inc SIL.TO, higher by 15.6%. * On the TSX 170 issues rose and 52 fell as a 3.3-to-1 ratio favored advancers. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Aphria Inc APHA.TO and Enbridge Inc ENB.TO. * The Toronto Stock Exchange's TSX rises 1.74 percent to 16,276.96 * Leading the index were Aurora Cannabis Inc , up 38.1%, Lightspeed POS Inc LSPD.TO, up 15.7%, and Silvercrest Metals Inc SIL.TO, higher by 15.6%. * The TSX's energy group .SPTTEN rose 0.32 points, or 0.5%, while the financials sector .SPTTFS climbed 0.43 points, or 0.2%. | * The most heavily traded shares by volume were Aurora Cannabis Inc ACB.TO, Aphria Inc APHA.TO and Enbridge Inc ENB.TO. * Lagging shares were Badger Daylighting Ltd BAD.TO, down 12.6%, Norbord Inc OSB.TO, down 4.1%, and Stantec Inc STN.TO, lower by 3.7%. Brent crude LCOc1 fell 1.24%, or $0.51, to $40.72 O/R * The TSX is off 4.6% for the year. |
37175.0 | 2020-11-04 00:00:00 UTC | Why Aurora Cannabis, Canopy Growth, and Other Top Canadian Pot Stocks Are Sinking Today | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-canopy-growth-and-other-top-canadian-pot-stocks-are-sinking-today-2020 | nan | nan | What happened
Several top Canadian cannabis stocks were sinking on Wednesday. Shares of Aurora Cannabis (NYSE: ACB) were down 9.9% as of 11:14 a.m. EST. Canopy Growth (NYSE: CGC) stock was tumbling 8.7% lower. Cronos Group (NASDAQ: CRON) and Tilray (NASDAQ: TLRY) were falling 9.4% and 9.7%, respectively. Aphria (NASDAQ: APHA) and OrganiGram Holdings (NASDAQ: OGI) also slid to a lesser extent -- 2.4% and 5.2%, respectively.
The culprit behind these declines was the surprising outcome (or, at least, anticipated outcome) of the U.S. elections. Polls leading up to Election Day indicated that Democrats had a very good chance of regaining control of the Senate. At this point, that scenario doesn't seem likely (although some votes remain to be counted). With the GOP in control of the Senate, the possibility of changes to federal laws related to cannabis will almost certainly be much lower than they'd be with Democrats in the majority.
Image source: Getty Images.
So what
All of the major Canadian cannabis producers really want to enter the huge U.S. marijuana market. Canopy Growth even struck a deal to acquire U.S.-based Acreage Holdings if marijuana becomes legal at the federal level. Canopy, Aurora, Cronos, and Tilray have already taken steps to enter the U.S. hemp market, but it's the U.S. marijuana market that they're really eager to jump into.
Technically, any of these companies (including Aphria and OrganiGram) could enter the U.S. marijuana market right now. However, they'd have to forfeit their listings on major U.S. stock exchanges. No company can list its shares on the major U.S. exchanges and be in violation of federal laws. Currently, of course, marijuana remains illegal at the federal level in the U.S.
It's probably fair to say that the management teams of all of the top Canadian cannabis producers were rooting for the Democrats to gain control of the Senate and for Joe Biden to win the presidential race. That could have set the stage for medical marijuana legalization throughout the U.S. and for changes to federal laws that would recognize the rights of individual states to enforce their own recreational pot laws. This would have in turn enabled Aurora, Canopy, and the other leading Canadian cannabis producers to expand into the U.S. market without jeopardizing their stock listings on the major U.S. exchanges.
For now, at least, these companies might have to remain focused on the Canadian market, where both medical and recreational cannabis is legal. Several of the companies also have sizable operations in other countries where medical cannabis is legal, especially in Germany.
Now what
Democrats appear to have picked up additional Senate seats in Arizona and Colorado but lost one seat in Alabama. They need to net three pickups if Biden wins (the vice president casts any tie votes in the Senate) or four seats if President Donald Trump is reelected. It could be a few days or even more before the final outcome is known.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Keith Speights has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends OrganiGram Holdings. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shares of Aurora Cannabis (NYSE: ACB) were down 9.9% as of 11:14 a.m. EST. It's probably fair to say that the management teams of all of the top Canadian cannabis producers were rooting for the Democrats to gain control of the Senate and for Joe Biden to win the presidential race. This would have in turn enabled Aurora, Canopy, and the other leading Canadian cannabis producers to expand into the U.S. market without jeopardizing their stock listings on the major U.S. exchanges. | Shares of Aurora Cannabis (NYSE: ACB) were down 9.9% as of 11:14 a.m. EST. What happened Several top Canadian cannabis stocks were sinking on Wednesday. So what All of the major Canadian cannabis producers really want to enter the huge U.S. marijuana market. | Shares of Aurora Cannabis (NYSE: ACB) were down 9.9% as of 11:14 a.m. EST. This would have in turn enabled Aurora, Canopy, and the other leading Canadian cannabis producers to expand into the U.S. market without jeopardizing their stock listings on the major U.S. exchanges. Here's The Marijuana Stock You've Been Waiting For A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. | Shares of Aurora Cannabis (NYSE: ACB) were down 9.9% as of 11:14 a.m. EST. With the GOP in control of the Senate, the possibility of changes to federal laws related to cannabis will almost certainly be much lower than they'd be with Democrats in the majority. So what All of the major Canadian cannabis producers really want to enter the huge U.S. marijuana market. |
37176.0 | 2020-11-04 00:00:00 UTC | Wall St seeks safety of Big Tech bets as election hangs in the balance | ACB | https://www.nasdaq.com/articles/wall-st-seeks-safety-of-big-tech-bets-as-election-hangs-in-the-balance-2020-11-04 | nan | nan | By Susan Mathew
Nov 4 (Reuters) - The United States' big technology names led gainers on Wall Street on Wednesday, as investors sought the security of this year's big stay-at-home corporate success stories in the face of a presidential election set to go down to the wire.
Gains for Joe Biden in vote tallies in the swing states of Wisconsin and Michigan cooled initial selling of renewable energy, marijuana and other companies seen as potential beneficiaries of a sweeping Democrat victory.
Overall, futures for the tech-heavy Nasdaq 100 NQcv1 jumped 3.7%, with Dow 1YMcv1 and S&P 500 EScv1 futures also trading in positive territory in a volatile session. .N
Following are major movers as traders and investors in New York's main stock indexes digested the results and President Donald Trump's chances of beating Biden to win a second term.
ENERGY
Traditional energy companies, which could enjoy a lighter regulatory and tax environment under a second term for Trump, gained, with the SPDR S&P Oil & Gas Exploration & Production ETF XOP.P up 2.3%.
Stocks of solar energy-based firms such as First Solar FSLR.O, Enphase ENPH.O and JinkoSolarJKS.Ntraded between 3% and 4.7% lower.
The Invesco Solar ETF TAN.P dropped 3%, handing back some of a more than 40% gain from September lows, while the iShares Global Clean Energy ETF ICLN.O, another instrument representing the developing sector which Biden had made a key plank of his agenda, fell 2%.
"The fact that Republicans are likely to retain a Senate majority would make it virtually impossible for Biden (if he wins) to enact his major climate reforms," said Raymond James analyst Pavel Molchanov.
"There is virtually no chance of a net zero emissions target passing through a Republican-controlled Senate."
MARIJUANA
Major cannabis producers had surged after the vice presidential debate, when Biden's partner on the ticket Kamala Harris said marijuana would be decriminalized at the federal level under their administration.
But with exit polls surprising markets, the ETFMG Alternative Harvest ETF .N> slipped 1.7%.
Shares of Tilray TLRY.Oas well as U.S.-based listings of Canada's Canopy Growth CGC.N, Cronos CRON.O and Aurora Cannabis ACB.N fell between 3% and 6.3%. [nL4N2HQ3C0]
TECHNOLOGY
Big tech companies, which have benefited from Trump's softer stance on regulation and anti-trust policies as well as a tax cut that targeted U.S. big business, rose between 3% and 5.3%.
The Invesco QQQ ETF QQQ.O and Technology Select Sector SPDR Fund XLK.Pwere both up around 3%.
Microsoft MSFT.O, Intel INTC.O and IBM IBM.N rose between 0.4% and 2.2%, while FAANG stocks Facebook FB.O, Apple AAPL.O, Amazon AMZN.O, Netflix NFLX.O and Google GOOGL.O gained around 2.3% each. [nL4N2HQ3HP]
"With a Trump presidency more likely than expected and a more evenly balanced Senate, any big change like higher capital gains tax or a legislation that regulates the tax more aggressively is less likely, and that's why tech is doing better," said TS Lombard's head of strategy, Andrea Cicione.
DEFENSE
The iShares US Aerospace & Defense ITA.Z was set for its best day in nearly three months, while the SPDR S&P Aerospace & Defense ETF XAR.P looked to post its biggest one-day gain since mid-July.
A second-term for the Trump administration is expected to mean continued higher spending on defense.
Contractors Northrop Grumman NOC.N, Lockheed Martin LMT.N and Raytheon RTX.N rose between 1.4% and 2.7%.
PRIVATE PRISON OPERATORS
Private prison operators Geo Group GEO.N and CoreCivic Inc CXW.N gave up early gains as Biden, who has committed to ending the federal government's use of private prisons, was reinstalled as the favorite to win the election by online betting markets.
BANKS
Most of Wall Street's big banks slipped.
"Now there will be a split Congress and, therefore, a lot more fiscal restraint and those expectations of higher inflation and high yields favoring banks and financials will have to be reassessed," Cicione said.
JP Morgan JPM.N lost 1.6% while Bank of America BAC.N, Citi C.N and Wells Fargo WFC.N -- listed under JP Morgan's basket of stocks that should gain from a Trump victory -- fell more than 1%.
PHARMACEUTICALS
Pfizer PFE.N, Merck & Co MRK.N, Biogen BIIB.O, Regeneron Pharmaceuticals REGN.O, Bristol Myers BMY.N and Johnson & Johnson JNJ.N all rose between 1.6% and 3.7%.
Analysts at SVB Leerink said a Trump win with a close Senate race was almost an ideal outcome for biopharma and that an effectively split Senate would likely shield the industry from any sweeping reforms.
Trump vs Biden stock basketshttps://tmsnrt.rs/34Fjxyh
(Reporting by Susan Mathew, additional reporting by Trisha Roy and Arunima Kumar in Bengaluru; editing by Patrick Graham and Bernard Orr)
((susan.mathew@thomsonreuters.com; +91-80-6287-2704;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shares of Tilray TLRY.Oas well as U.S.-based listings of Canada's Canopy Growth CGC.N, Cronos CRON.O and Aurora Cannabis ACB.N fell between 3% and 6.3%. Gains for Joe Biden in vote tallies in the swing states of Wisconsin and Michigan cooled initial selling of renewable energy, marijuana and other companies seen as potential beneficiaries of a sweeping Democrat victory. .N Following are major movers as traders and investors in New York's main stock indexes digested the results and President Donald Trump's chances of beating Biden to win a second term. | Shares of Tilray TLRY.Oas well as U.S.-based listings of Canada's Canopy Growth CGC.N, Cronos CRON.O and Aurora Cannabis ACB.N fell between 3% and 6.3%. Most of Wall Street's big banks slipped. JP Morgan JPM.N lost 1.6% while Bank of America BAC.N, Citi C.N and Wells Fargo WFC.N -- listed under JP Morgan's basket of stocks that should gain from a Trump victory -- fell more than 1%. | Shares of Tilray TLRY.Oas well as U.S.-based listings of Canada's Canopy Growth CGC.N, Cronos CRON.O and Aurora Cannabis ACB.N fell between 3% and 6.3%. The Invesco Solar ETF TAN.P dropped 3%, handing back some of a more than 40% gain from September lows, while the iShares Global Clean Energy ETF ICLN.O, another instrument representing the developing sector which Biden had made a key plank of his agenda, fell 2%. [nL4N2HQ3HP] "With a Trump presidency more likely than expected and a more evenly balanced Senate, any big change like higher capital gains tax or a legislation that regulates the tax more aggressively is less likely, and that's why tech is doing better," said TS Lombard's head of strategy, Andrea Cicione. | Shares of Tilray TLRY.Oas well as U.S.-based listings of Canada's Canopy Growth CGC.N, Cronos CRON.O and Aurora Cannabis ACB.N fell between 3% and 6.3%. "The fact that Republicans are likely to retain a Senate majority would make it virtually impossible for Biden (if he wins) to enact his major climate reforms," said Raymond James analyst Pavel Molchanov. A second-term for the Trump administration is expected to mean continued higher spending on defense. |
37177.0 | 2020-11-04 00:00:00 UTC | ANALYSIS-U.S. states votes legalizing marijuana to drive growth despite election uncertainty | ACB | https://www.nasdaq.com/articles/analysis-u.s.-states-votes-legalizing-marijuana-to-drive-growth-despite-election | nan | nan | By Shariq Khan and David Randall
Nov 4 (Reuters) - Votes to legalize marijuana on Tuesday by a handful more U.S. states should spur further development of the industry and possibly bring changes at a federal level, even if pro-decriminalization candidate Joe Biden loses his bid for the White House, according to industry executives and analysts.
Consumer demand and the promise of tax revenue are leading more states to embrace pot, which then leads other states to follow suit, making what happens at the local level more important, they said.
Shares of U.S. companies with footprints in multiple states, including Curaleaf Holdings Inc CURA.CD, Cresco Labs Ltd CL.CD and Green Thumb Industries Inc GTII.CD, were all up on Wednesday after voters in Arizona, Montana, New Jersey and South Dakota chose to legalize recreational use.
The votes should add steam to an industry now pushing hard for new federal legislation.
"The momentum of the legal industry will likely remain unchanged regardless of the election outcome," said Matt Hawkins, founder and managing partner at cannabis-focused private equity firm Entourage Effect Capital.
"As long as there is strong consumer demand, the industry will continue its upward growth trajectory and the pathway to legalization will likely speed up regardless."
For example, approval in New Jersey is expected to open up other eastern states, such as New York and Pennsylvania, said Salvator Armenia, vice president of business development at producer C21 investments CXXI.CD. Those states and nearby Connecticut already allow marijuana sales for medical purposes.
Tuesday's votes takes the tally of U.S. states where recreational use will be legal to 15 plus the District of Columbia. Mississippi voters also backed legalizing cannabis for medical use, while Oregon voters approved legalizing the psychoactive substance psilocybin found in "magic mushrooms."
The "total addressable market" in those five states alone is considered to be as large the entire Canadian cannabis market, worth a potential $5 billion to $9 billion annually, Armenia said.
The path to federal legislation that would allow cannabis companies to bank and trade freely is still unclear, with Republican Senate Majority Leader Mitch McConnell a major opponent. Republicans appear poised to retain control of the senate.
Michael Underhill, chief investment officer at Capital Innovations, cautioned that several bills would need to pass before U.S. companies found themselves on the same regulatory playing field as their Canadian counterparts.
CLOSER TO ACCEPTANCE
In last month's debate with Vice President Mike Pence, Democratic vice presidential candidate Kamala Harris said marijuana would be decriminalized at a federal level under a Biden administration.
"Each election cycle cannabis comes closer to federal acceptance, and this election is pivotal to those goals," said Cynthia Salarizadeh, founder and president of House of Saka, a cannabis-infused beverages business.
Cannabis sales have surged with people stuck at home during the coronavirus pandemic. In California, sales data for August showed a 26% jump over the past year, while sales in Nevada were up 34%, according to BDS Analytics.
Alcohol and tobacco companies have taken notice, with some investing in the sector. Drinks maker Constellation Brands STZ.N has a stake in Canopy Growth Corp WEED.TO, CGC.N, while Marlboro maker Altria MO.N has a stake in Cronos Group Inc CRON.TO.
Still, federal decriminalization, or legalization in more states, would not be without challenges, investors said. Many point to Canada as an example.
Though the country became the first G-20 nation to legalize recreational use of cannabis in 2018, regulatory hiccups in Canadian dispensary rollouts, slow international legalization, and a lack of profitability sent investors packing over the next year. That left most companies at a fraction of their market values by the beginning of 2020.
Shares of Canada-based pot producers and distributors, including Canopy, Cronos, Aurora Cannabis ACB.N and Tilray TLRY.O all fell on Wednesday as the chances of a swift victory for Biden faded.
(Reporting by Shariq Khan in Bangaluru and David Randall in New York; Additional reporting by Martinne Geller in London; Editing by Patrick Graham, Ira Iosebashvili and Bill Berkrot)
((David.Randall@thomsonreuters.com; 646-223-6607; Reuters Messaging: david.randall.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shares of Canada-based pot producers and distributors, including Canopy, Cronos, Aurora Cannabis ACB.N and Tilray TLRY.O all fell on Wednesday as the chances of a swift victory for Biden faded. Shares of U.S. companies with footprints in multiple states, including Curaleaf Holdings Inc CURA.CD, Cresco Labs Ltd CL.CD and Green Thumb Industries Inc GTII.CD, were all up on Wednesday after voters in Arizona, Montana, New Jersey and South Dakota chose to legalize recreational use. "The momentum of the legal industry will likely remain unchanged regardless of the election outcome," said Matt Hawkins, founder and managing partner at cannabis-focused private equity firm Entourage Effect Capital. | Shares of Canada-based pot producers and distributors, including Canopy, Cronos, Aurora Cannabis ACB.N and Tilray TLRY.O all fell on Wednesday as the chances of a swift victory for Biden faded. By Shariq Khan and David Randall Nov 4 (Reuters) - Votes to legalize marijuana on Tuesday by a handful more U.S. states should spur further development of the industry and possibly bring changes at a federal level, even if pro-decriminalization candidate Joe Biden loses his bid for the White House, according to industry executives and analysts. For example, approval in New Jersey is expected to open up other eastern states, such as New York and Pennsylvania, said Salvator Armenia, vice president of business development at producer C21 investments CXXI.CD. | Shares of Canada-based pot producers and distributors, including Canopy, Cronos, Aurora Cannabis ACB.N and Tilray TLRY.O all fell on Wednesday as the chances of a swift victory for Biden faded. By Shariq Khan and David Randall Nov 4 (Reuters) - Votes to legalize marijuana on Tuesday by a handful more U.S. states should spur further development of the industry and possibly bring changes at a federal level, even if pro-decriminalization candidate Joe Biden loses his bid for the White House, according to industry executives and analysts. Shares of U.S. companies with footprints in multiple states, including Curaleaf Holdings Inc CURA.CD, Cresco Labs Ltd CL.CD and Green Thumb Industries Inc GTII.CD, were all up on Wednesday after voters in Arizona, Montana, New Jersey and South Dakota chose to legalize recreational use. | Shares of Canada-based pot producers and distributors, including Canopy, Cronos, Aurora Cannabis ACB.N and Tilray TLRY.O all fell on Wednesday as the chances of a swift victory for Biden faded. By Shariq Khan and David Randall Nov 4 (Reuters) - Votes to legalize marijuana on Tuesday by a handful more U.S. states should spur further development of the industry and possibly bring changes at a federal level, even if pro-decriminalization candidate Joe Biden loses his bid for the White House, according to industry executives and analysts. Shares of U.S. companies with footprints in multiple states, including Curaleaf Holdings Inc CURA.CD, Cresco Labs Ltd CL.CD and Green Thumb Industries Inc GTII.CD, were all up on Wednesday after voters in Arizona, Montana, New Jersey and South Dakota chose to legalize recreational use. |
37178.0 | 2020-11-04 00:00:00 UTC | Will Marijuana's Biggest ETF Miss the Cannabis Rebound? | ACB | https://www.nasdaq.com/articles/will-marijuanas-biggest-etf-miss-the-cannabis-rebound-2020-11-04 | nan | nan | The cannabis industry has had an extremely tough couple of years. After seeing an upsurge in interest in 2018 as Canada went through the process of legalizing recreational marijuana, the reality of more open cannabis markets fell short of the hype. That sent shares of top stocks in the marijuana space sharply lower, and along with it, top marijuana ETF ETFMG Alternative Harvest (NYSEMKT: MJ) has lost more than 60% of its value over the past two years.
Recently, though, some marijuana stocks have started to perk up again. That's pushed shares of the Alternative Harvest ETF up 13% over the past month, but some investors fear that the cannabis-focused fund will never be able to claw back all of its losses. To understand why, you have to look at the stocks that have played the most important role in Alternative Harvest's returns and see whether they match up with the growing leaders of the cannabis industry.
Image source: Getty Images.
When your biggest stocks get hit the hardest
The Alternative Harvest ETF tracks an index of companies within the cannabis industry. It includes growers along with companies that are involved in supplying ancillary products and services to grow operations. It also includes companies in the pharmaceutical and tobacco arenas looking to diversify their exposure by incorporating cannabis into their business models.
Unfortunately for Alternative Harvest, the big stocks in the index haven't been great performers in 2020. Consider the following:
Canopy Growth (NYSE: CGC) is down about 7% from where it started 2020. It currently makes up 10% of the fund's assets.
Cronos Group (NASDAQ: CRON) gets an 8% weighting and has fallen 24% year to date.
Tilray (NASDAQ: TLRY) has been a particularly poor performer, dropping 63% since Jan. 1. Yet it still makes up nearly 8% of the fund.
The picture gets even grimmer when you look at some smaller players. Aurora Cannabis (NYSE: ACB) has plunged more than 80% in 2020, but it still gets a 4% weighting in the fund. OrganiGram Holdings (NASDAQ: OGI) and HEXO (NYSE: HEXO) haven't fared much better, falling 48% and 60% respectively but still making up a combined 9% of the fund.
Are investors losing interest?
Alternative Harvest has seen its asset levels languish as marijuana stocks have stayed under pressure. Asset levels are currently just over $600 million, less than half what they were at their peak levels.
Yet much of that drop reflects the loss in value of the stocks the ETF holds. In fact, if investors were leaving the fund in droves, then you would expect to see even lower asset levels. That suggests that shareholders are hoping that Alternative Harvest can bounce back.
What's missing at Alternative Harvest
To be fair, the Alternative Harvest ETF hasn't whiffed on all of its stocks. Its ownership of GrowGeneration (NASDAQ: GRWG) has been a big winner in 2020, with the investment having risen by more than 350% year to date. Yet even after that huge rise in the hydroponic supplier's shares, the ETF's allocation to GrowGeneration is only a bit over 3%.
But some strong performers aren't in the portfolio at all. Consider Trulieve Cannabis (OTC: TCNNF), which has more than doubled so far in 2020. The Florida-focused medical cannabis grower and dispensary network has done a great job of penetrating one of the most important state markets in the U.S., but it hasn't gotten onto Alternative Harvest's radar as of yet.
Alternative Harvest should take a long, hard look at its index provider and figure out whether it's coming up with the best companies in the sector. If it's not, then the ETF would be well-served to consider changing its index to find the marijuana stocks most likely to participate in a rebound in the cannabis industry when it comes.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends GrowGeneration and OrganiGram Holdings. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) has plunged more than 80% in 2020, but it still gets a 4% weighting in the fund. After seeing an upsurge in interest in 2018 as Canada went through the process of legalizing recreational marijuana, the reality of more open cannabis markets fell short of the hype. That's pushed shares of the Alternative Harvest ETF up 13% over the past month, but some investors fear that the cannabis-focused fund will never be able to claw back all of its losses. | Aurora Cannabis (NYSE: ACB) has plunged more than 80% in 2020, but it still gets a 4% weighting in the fund. Unfortunately for Alternative Harvest, the big stocks in the index haven't been great performers in 2020. OrganiGram Holdings (NASDAQ: OGI) and HEXO (NYSE: HEXO) haven't fared much better, falling 48% and 60% respectively but still making up a combined 9% of the fund. | Aurora Cannabis (NYSE: ACB) has plunged more than 80% in 2020, but it still gets a 4% weighting in the fund. That sent shares of top stocks in the marijuana space sharply lower, and along with it, top marijuana ETF ETFMG Alternative Harvest (NYSEMKT: MJ) has lost more than 60% of its value over the past two years. When your biggest stocks get hit the hardest The Alternative Harvest ETF tracks an index of companies within the cannabis industry. | Aurora Cannabis (NYSE: ACB) has plunged more than 80% in 2020, but it still gets a 4% weighting in the fund. Unfortunately for Alternative Harvest, the big stocks in the index haven't been great performers in 2020. What's missing at Alternative Harvest To be fair, the Alternative Harvest ETF hasn't whiffed on all of its stocks. |
37179.0 | 2020-11-04 00:00:00 UTC | CANADA STOCKS-TSX gains as U.S. election gets tight | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-gains-as-u.s.-election-gets-tight-2020-11-04 | nan | nan | Nov 4 (Reuters) - Canada's main stock index tracked Wall Street higher on Wednesday as the U.S. presidential election hung in the balance, with a handful of close-fought states set to decide the outcome in the coming hours or days.
* At 9:57 a.m. ET (1457 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 112.15 points, or 0.8%, at 16059.68.
* U.S. President Donald Trump falsely claimed victory and made unsubstantiated allegations of electoral fraud, while Joe Biden said in the early hours he was confident of winning once the votes are counted, and urged patience.
* The country's trade deficit widened to C$3.25 billion ($2.47 billion) in September, missing analyst estimates, with both imports and exports rising in the month, data from Statistics Canada showed.
* The largest percentage gainer on the TSX was Finning International Inc FTT.TO, which jumped 9.1% after the heavy machinery maker reported third-quarter profits above analysts' estimates.
* Cancer drug developer Trillium Therapeutics Inc TRIL.TO rose 8%.
* The energy sector .SPTTEN dropped 0.3%, even as U.S. crude CLc1 prices were up 0.9% a barrel, while Brent crude LCOc1 added 1.1%. O/R
* The financials sector .SPTTFS slipped 0.1%. The industrials sector .GSPTTIN fell 0.4%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 1% as gold futures GCc1 fell 0.1% to $1,906.9 an ounce. GOL/
* On the TSX, 115 issues were higher, while 106 issues declined for a 1.08-to-1 ratio favouring gainers, with 26.06 million shares traded.
* Pot producers Canopy Growth Corp and Cronos Group Inc CRON.TO were the biggest decliners in TSX, falling 8% and 7.5%, respectively.
* The most heavily-traded shares by volume were Bank of Montreal , Aurora Cannabis Inc , and Suncor Energy Inc .
* The TSX posted one new 52-week high and no new lows.
* Across all Canadian issues there were eight new 52-week highs and one new low, with a total volume of 43.66 million shares.
(Reporting by Amal S in Bengaluru; Editing by Ramakrishnan M.)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 4 (Reuters) - Canada's main stock index tracked Wall Street higher on Wednesday as the U.S. presidential election hung in the balance, with a handful of close-fought states set to decide the outcome in the coming hours or days. * U.S. President Donald Trump falsely claimed victory and made unsubstantiated allegations of electoral fraud, while Joe Biden said in the early hours he was confident of winning once the votes are counted, and urged patience. * The largest percentage gainer on the TSX was Finning International Inc FTT.TO, which jumped 9.1% after the heavy machinery maker reported third-quarter profits above analysts' estimates. | * The country's trade deficit widened to C$3.25 billion ($2.47 billion) in September, missing analyst estimates, with both imports and exports rising in the month, data from Statistics Canada showed. GOL/ * On the TSX, 115 issues were higher, while 106 issues declined for a 1.08-to-1 ratio favouring gainers, with 26.06 million shares traded. * Across all Canadian issues there were eight new 52-week highs and one new low, with a total volume of 43.66 million shares. | Nov 4 (Reuters) - Canada's main stock index tracked Wall Street higher on Wednesday as the U.S. presidential election hung in the balance, with a handful of close-fought states set to decide the outcome in the coming hours or days. * The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 1% as gold futures GCc1 fell 0.1% to $1,906.9 an ounce. GOL/ * On the TSX, 115 issues were higher, while 106 issues declined for a 1.08-to-1 ratio favouring gainers, with 26.06 million shares traded. | The industrials sector .GSPTTIN fell 0.4%. GOL/ * On the TSX, 115 issues were higher, while 106 issues declined for a 1.08-to-1 ratio favouring gainers, with 26.06 million shares traded. * Across all Canadian issues there were eight new 52-week highs and one new low, with a total volume of 43.66 million shares. |
37180.0 | 2020-11-04 00:00:00 UTC | CANADA STOCKS - TSX rises 0.41% to 16,003.71 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.41-to-16003.71-2020-11-04 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.41 percent to 16,003.71
* Leading the index were Finning International Inc , up 11.9%, ATS Automation Tooling Systems Inc ATA.TO, up 10.2%, and Intact Financial Corp IFC.TO, higher by 6.4%.
* Lagging shares were Aurora Cannabis Inc ACB.TO, down 9.3%, Cronos Group Inc CRON.TO, down 9.1%, and Canopy Growth Corp WEED.TO, lower by 7.3%.
* On the TSX 120 issues rose and 100 fell as a 1.2-to-1 ratio favored advancers. There were 6 new highs and no new lows, with total volume of 148.7 million shares.
* The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aurora Cannabis Inc ACB.TO and B2gold Corp BTO.TO.
* The TSX's energy group .SPTTEN rose 0.12 points, or 0.2%, while the financials sector .SPTTFS climbed 1.58 points, or 0.6%.
* West Texas Intermediate crude futures CLc1 rose 3.51%, or $1.32, to $38.98 a barrel. Brent crude LCOc1 rose 3.42%, or $1.36, to $41.07 O/R
* The TSX is off 6.2% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Lagging shares were Aurora Cannabis Inc ACB.TO, down 9.3%, Cronos Group Inc CRON.TO, down 9.1%, and Canopy Growth Corp WEED.TO, lower by 7.3%. * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aurora Cannabis Inc ACB.TO and B2gold Corp BTO.TO. * The Toronto Stock Exchange's TSX rises 0.41 percent to 16,003.71 * Leading the index were Finning International Inc , up 11.9%, ATS Automation Tooling Systems Inc ATA.TO, up 10.2%, and Intact Financial Corp IFC.TO, higher by 6.4%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aurora Cannabis Inc ACB.TO and B2gold Corp BTO.TO. * Lagging shares were Aurora Cannabis Inc ACB.TO, down 9.3%, Cronos Group Inc CRON.TO, down 9.1%, and Canopy Growth Corp WEED.TO, lower by 7.3%. * The Toronto Stock Exchange's TSX rises 0.41 percent to 16,003.71 * Leading the index were Finning International Inc , up 11.9%, ATS Automation Tooling Systems Inc ATA.TO, up 10.2%, and Intact Financial Corp IFC.TO, higher by 6.4%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aurora Cannabis Inc ACB.TO and B2gold Corp BTO.TO. * Lagging shares were Aurora Cannabis Inc ACB.TO, down 9.3%, Cronos Group Inc CRON.TO, down 9.1%, and Canopy Growth Corp WEED.TO, lower by 7.3%. * The Toronto Stock Exchange's TSX rises 0.41 percent to 16,003.71 * Leading the index were Finning International Inc , up 11.9%, ATS Automation Tooling Systems Inc ATA.TO, up 10.2%, and Intact Financial Corp IFC.TO, higher by 6.4%. | * The most heavily traded shares by volume were Suncor Energy Inc SU.TO, Aurora Cannabis Inc ACB.TO and B2gold Corp BTO.TO. * Lagging shares were Aurora Cannabis Inc ACB.TO, down 9.3%, Cronos Group Inc CRON.TO, down 9.1%, and Canopy Growth Corp WEED.TO, lower by 7.3%. * The Toronto Stock Exchange's TSX rises 0.41 percent to 16,003.71 * Leading the index were Finning International Inc , up 11.9%, ATS Automation Tooling Systems Inc ATA.TO, up 10.2%, and Intact Financial Corp IFC.TO, higher by 6.4%. |
37181.0 | 2020-11-04 00:00:00 UTC | Renewable energy, pot stocks top losers as election results leave Wall St hanging | ACB | https://www.nasdaq.com/articles/renewable-energy-pot-stocks-top-losers-as-election-results-leave-wall-st-hanging-2020-11 | nan | nan | By Susan Mathew
Nov 4 (Reuters) - Renewable energy and cannabis-related stocks, tipped to gain under a Joe Biden administration, were among the hardest hit on Wall Street on Wednesday, as traders adjusted to overnight results that left the presidential election hanging in the balance.
Tech stocks were the initial big winners as President Donald Trump won the key states of Florida and Ohio and confounded earlier poll readings in others, quelling the expectations of some market participants of a swift Biden victory.
Following are major movers as traders and investors in New York's main stock indexes digested the results. Overall, futures for the Nasdaq 100 NQcv1, Dow 1YMcv1 and S&P 500 EScv1 were trading in positive territory after swinging sharply overnight. .N
ENERGY
Traditional energy companies, which could enjoy a lighter regulatory and tax environment under a second term for Trump, rose, with the SPDR S&P Oil & Gas Exploration & Production ETF XOP.P up 2.3%.
Chevron CVX.N gained 0.6%, while shares in Exxon XOM.N rose 1.8%
Stocks of solar energy-based firms, which had soared in anticipation of Biden and the Democrats faring well, fell. The Invesco Solar ETF TAN.P dropped 3% after climbing more than 40% since September lows.
Another instrument representing the developing sector, the iShares Global Clean Energy ETF ICLN.O, fell 2%.
MARIJUANA
Major cannabis producers surged after the vice presidential debate, when vice-presidential candidate Kamala Harris said marijuana would be decriminalized at the federal level under a Biden administration.
The ETFMG Alternative Harvest ETF MJ slipped 1.9%, putting it on track for its worst day in nearly two months.
Shares of cannabis producers Tilray TLRY.O, U.S. listings of Canada's Canopy Growth CGC.N, Cronos CRON.O and Aurora Cannabis ACB.N, dropped between 3% and 6.3%.
TECHNOLOGY
Big tech companies, which have benefited from Trump's softer stance on regulation and anti-trust policies as well as a tax cut that targeted U.S. big business, rose, with the Invesco QQQ ETF QQQ.O and Technology Select Sector SPDR Fund XLK.P both up 2.3%.
Microsoft MSFT.O, Intel INTC.O and IBM IBM.N rose between 0.4% and 2.2%, while the FAANG stocks Facebook FB.O, Apple AAPL.O, Amazon AMZN.O, Netflix NFLX.O and Google GOOGL.O gained around 2.3% each.
PRIVATE PRISON OPERATORS
Geo Group GEO.N and CoreCivic Inc CXW.N jumped 1.9% and 6.5%, respectively, before the bell.
They had been pressured in recent months as Biden, who has committed to ending the federal government's use of private prisons, took a sizeable lead in the polls.
Trump vs Biden stock basketshttps://tmsnrt.rs/34Fjxyh
(Reporting by Susan Mathew in Bengaluru; Editing by Patrick Graham and Bernard Orr)
((susan.mathew@thomsonreuters.com; +91-80-6287-2704;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shares of cannabis producers Tilray TLRY.O, U.S. listings of Canada's Canopy Growth CGC.N, Cronos CRON.O and Aurora Cannabis ACB.N, dropped between 3% and 6.3%. By Susan Mathew Nov 4 (Reuters) - Renewable energy and cannabis-related stocks, tipped to gain under a Joe Biden administration, were among the hardest hit on Wall Street on Wednesday, as traders adjusted to overnight results that left the presidential election hanging in the balance. Tech stocks were the initial big winners as President Donald Trump won the key states of Florida and Ohio and confounded earlier poll readings in others, quelling the expectations of some market participants of a swift Biden victory. | Shares of cannabis producers Tilray TLRY.O, U.S. listings of Canada's Canopy Growth CGC.N, Cronos CRON.O and Aurora Cannabis ACB.N, dropped between 3% and 6.3%. The Invesco Solar ETF TAN.P dropped 3% after climbing more than 40% since September lows. Another instrument representing the developing sector, the iShares Global Clean Energy ETF ICLN.O, fell 2%. | Shares of cannabis producers Tilray TLRY.O, U.S. listings of Canada's Canopy Growth CGC.N, Cronos CRON.O and Aurora Cannabis ACB.N, dropped between 3% and 6.3%. By Susan Mathew Nov 4 (Reuters) - Renewable energy and cannabis-related stocks, tipped to gain under a Joe Biden administration, were among the hardest hit on Wall Street on Wednesday, as traders adjusted to overnight results that left the presidential election hanging in the balance. Big tech companies, which have benefited from Trump's softer stance on regulation and anti-trust policies as well as a tax cut that targeted U.S. big business, rose, with the Invesco QQQ ETF QQQ.O and Technology Select Sector SPDR Fund XLK.P both up 2.3%. | Shares of cannabis producers Tilray TLRY.O, U.S. listings of Canada's Canopy Growth CGC.N, Cronos CRON.O and Aurora Cannabis ACB.N, dropped between 3% and 6.3%. By Susan Mathew Nov 4 (Reuters) - Renewable energy and cannabis-related stocks, tipped to gain under a Joe Biden administration, were among the hardest hit on Wall Street on Wednesday, as traders adjusted to overnight results that left the presidential election hanging in the balance. Following are major movers as traders and investors in New York's main stock indexes digested the results. |
37182.0 | 2020-11-03 00:00:00 UTC | Canopy Growth to move U.S. listing to Nasdaq as it eyes lower costs | ACB | https://www.nasdaq.com/articles/canopy-growth-to-move-u.s.-listing-to-nasdaq-as-it-eyes-lower-costs-2020-11-03 | nan | nan | By Shariq Khan
Nov 3 (Reuters) - Canadian pot producer Canopy Growth Corp WEED.TO, CGC.N said on Tuesday it would move its U.S. stock listing to the Nasdaq, following rival Aphria Inc APHA.TO, APHA.O in favoring the exchange's "cost-effectiveness".
Canopy's U.S. shares, currently listed on the New York Stock Exchange, rose over 4% in extended trading.
Years of high expenses and a lack of profitability have soured investor sentiment towards Canadian pot producers, forcing the companies to cut costs aggressively this year by shuttering facilities, laying off employees and resetting portfolios.
The transition to the Nasdaq gives the company greater cost-effectiveness and better access to tools and services to connect with current and future investors, Canopy Chief Executive Officer David Klein said in a statement.
The change also suggests Canopy had a difficult time raising capital on the NYSE, said Avis Bulbulyan, CEO of cannabis consulting firm Siva Enterprises.
"Nasdaq listings are a bit more volatile and used by fast-growth companies such as tech," Bulbulyan said.
"Considering Canopy hasn't really been that stable and doesn't have much to show for their history, they may have a relatively easier time raising money with a Nasdaq listing," he said.
Canopy's shares, which fell 3% this year through Tuesday's closing bell, will start trading on the Nasdaq under the ticker symbol 'CGC' on Nov. 16.
Aphria completed its move to the Nasdaq in June. Among other major Canadian producers with listings in Canada and the United States, Hexo Corp HEXO.TOHEXO.Nand Aurora Cannabis Inc ACB.TOACB.N remain NYSE-listed.
Both were warned by the exchange's operator about a possible delisting earlier this year after their share prices slid below $1.
Aurora's shares rose above the threshold after it undertook a reverse stock split, while Hexo has detailed plans to carry out a similar consolidation around December.
(Reporting by Shariq Khan in Bengaluru; Editing by Maju Samuel)
((Shariq.Khan@thomsonreuters.com; Within U.S.+1 646 223 8780, outside U.S. +91 80 6182 2681; Twitter: @shariqrtrs;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among other major Canadian producers with listings in Canada and the United States, Hexo Corp HEXO.TOHEXO.Nand Aurora Cannabis Inc ACB.TOACB.N remain NYSE-listed. By Shariq Khan Nov 3 (Reuters) - Canadian pot producer Canopy Growth Corp WEED.TO, CGC.N said on Tuesday it would move its U.S. stock listing to the Nasdaq, following rival Aphria Inc APHA.TO, APHA.O in favoring the exchange's "cost-effectiveness". The transition to the Nasdaq gives the company greater cost-effectiveness and better access to tools and services to connect with current and future investors, Canopy Chief Executive Officer David Klein said in a statement. | Among other major Canadian producers with listings in Canada and the United States, Hexo Corp HEXO.TOHEXO.Nand Aurora Cannabis Inc ACB.TOACB.N remain NYSE-listed. By Shariq Khan Nov 3 (Reuters) - Canadian pot producer Canopy Growth Corp WEED.TO, CGC.N said on Tuesday it would move its U.S. stock listing to the Nasdaq, following rival Aphria Inc APHA.TO, APHA.O in favoring the exchange's "cost-effectiveness". Aurora's shares rose above the threshold after it undertook a reverse stock split, while Hexo has detailed plans to carry out a similar consolidation around December. | Among other major Canadian producers with listings in Canada and the United States, Hexo Corp HEXO.TOHEXO.Nand Aurora Cannabis Inc ACB.TOACB.N remain NYSE-listed. By Shariq Khan Nov 3 (Reuters) - Canadian pot producer Canopy Growth Corp WEED.TO, CGC.N said on Tuesday it would move its U.S. stock listing to the Nasdaq, following rival Aphria Inc APHA.TO, APHA.O in favoring the exchange's "cost-effectiveness". "Considering Canopy hasn't really been that stable and doesn't have much to show for their history, they may have a relatively easier time raising money with a Nasdaq listing," he said. | Among other major Canadian producers with listings in Canada and the United States, Hexo Corp HEXO.TOHEXO.Nand Aurora Cannabis Inc ACB.TOACB.N remain NYSE-listed. By Shariq Khan Nov 3 (Reuters) - Canadian pot producer Canopy Growth Corp WEED.TO, CGC.N said on Tuesday it would move its U.S. stock listing to the Nasdaq, following rival Aphria Inc APHA.TO, APHA.O in favoring the exchange's "cost-effectiveness". Canopy's U.S. shares, currently listed on the New York Stock Exchange, rose over 4% in extended trading. |
37183.0 | 2020-11-03 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-U.S. banks, Plug Power, Spirit AeroSystems, Gartner, Solaredge | ACB | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-u.s.-banks-plug-power-spirit-aerosystems-gartner-solaredge | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
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Wall Street's main indexes jumped on Tuesday as investors bet that one of the country's most divisive presidential races could end with a clear victory for Democratic nominee Joe Biden and a swift deal on more fiscal stimulus. .N
At 13:10 ET, the Dow Jones Industrial Average .DJI was up 2.00% at 27,462.9. The S&P 500 .SPX was up 1.85% at 3,371.33 and the Nasdaq Composite .IXIC was up 2.00% at 11,176.599. The top three S&P 500 .PG.INX percentage gainers: ** Arista Networks ANET.N, up 15.7% ** Gartner IT.N, up 11.6% ** Catalent CTLT.N, up 7.7% The top three S&P 500 .PL.INX percentage losers: ** Mosaic MOS.N, down 12.9% ** Leggett& Platt LEG.N, down 6.6% ** CF Industries CF.N, down 4.7% The top three NYSE .PG.N percentage gainers: ** Inspre Med Systm INSP.N, up 26.4% ** Ellomay Capital ELLO.N, up 21.7% ** Arista Networks ANET.N, up 15.7% The top three NYSE .PL.N percentage losers: ** Ambow Education AMBO.N, down 30.7% ** Greenhill GHL.N, down 20.4% ** Intrepid Potash IPI.N, down 18.3% The top Nasdaq .PG.O percentage gainers: ** Alaska Communications ALSK.O, up 57.9% ** BioLine RX BLRX.O, up 35.4% The top Nasdaq .PL.O percentage losers: ** Solaredge SEDG.O, down 23.8 % ** KBL Merger Corp. IV. KBLM.O, down 22.3 %
** Biomarin Pharma BMRN.O: down 2.0%
BUZZ-Falls on concerns over FDA review of growth disorder treatment ** Humana HUM.N: up 2.6%
BUZZ-Rises on strong 2021 profit outlook, Q3 earnings ** Emerson Electric EMR.N: up 2.3%
BUZZ-Emerson Electric: Gains after cost cuts drive quarterly profit beat ** Aptevo Therapeutics APVO.O: up 19.5%
BUZZ-Surges after cancer symptoms disappear in study patient ** Eaton Corp ETN.N: up 2.4%
BUZZ-Up on Q3 results beat ** Fabrinet FN.N: up 7.2%
BUZZ-Hits 2-month high after Q1 results beat estimates ** Spirit AeroSystems SPR.N: up 4.0%
BUZZ-Up after forecasting lower 2021 cash burn
** Alibaba BABA.N: down 8.0%
BUZZ-Drops after Shanghai stock exchange suspends Ant's A-share IPO ** Fox Corp FOXA.O: down 2.8%
BUZZ-Rises after Q1 profit beat
** Designer Brands DBI.N: up 12.1%
BUZZ-Rises as Susquehanna upgrades to 'neutral' ** GW Pharma GWPH.O : up 22.5%
BUZZ-Up as co starts study on cannabis-based drug for MS, Q3 results ** Telenav TNAV.O: up 20.2%
BUZZ-Jumps on go-private deal with CEO-led firm ** Ferrari NV RACE.N: up 7.7%
BUZZ-Zooms after raising profit forecast as shipments recover ** CDW Corp CDW.O: up 3.2%
BUZZ-Brokerages turn bullish after upbeat Q3 ** 3D Systems Corp DDD.N: up 6.6%
BUZZ-Rises on $65 mln sale of software businesses ** UnitedHealth UNH.N: up 2.8% ** Anthem ANTM.N: up 4.9% ** Humana HUM.N: up 2.6%
BUZZ-Health insurers trade higher ahead of U.S. presidential elections ** Thomson Reuters TRI.N: up 3.6%
BUZZ-Profit beat lifts stock ** Sysco Corp SYY.N: up 6.3%
BUZZ-Rises on better-than-expected quarterly results ** Aurinia Pharma AUPH.O: down 12.7%
BUZZ-Falls on failure of dry-eye syndrome drug study ** Gilead Sciences Inc GILD.O: up 0.4%
BUZZ-Value investors should keep Gilead Sciences on the radar: Mizuho ** Tilray TLRY.O: down 1.4% ** Cronos CRON.O: down 0.2% ** Sundial Growers SNDL.O: !RIC {RIC.NB} is invalid ** Aurora Cannabis ACB.N: up 1.1%
BUZZ-Pot stocks gain as investors bet on Biden-Harris victory ** Esperion Therapeutic ESPR.O: down 15.7%
BUZZ-Analysts ring alarm bells over cash balance ** Jakks Pacific Inc JAKK.O: up 25.1% BUZZ-Surges as Q3 results beat ** Paypal PYPL.O: down 2.5% BUZZ-Falls on disappointing Q4 outlook; some analysts remain bullish ** Mondelez International Inc MDLZ.O: up 0.4% BUZZ-Mondelez forecast suggests strong momentum in 2021 ** Trivago NV TRVG.O: up 3.5% BUZZ-Jumps on smaller-than-expected loss in Q3 ** TechnipFMC FTI.N: up 1.2% BUZZ-Rises on stake disclosure by shareholder ** Biogen BIIB.O: down 2.0% BUZZ-Cantor slashes PT on concerns over Spinraza competition, growth ** Plug Power PLUG.O: up 9.5% BUZZ-Gains after D.E. Shaw discloses passive stake ** Alaska Communications ALSK.O: up 57.9% BUZZ-Soars on go-private deal ** Baxter BAX.N: down 0.2% BUZZ-Fall in Baxter shares potential "buying opportunity" - JPM ** Goldman Sachs GS.N: up 4.1%
** JPMorgan Chase & Co JPM.N: up 3.2% ** Morgan Stanley MS.N: up 2.9% BUZZ-U.S. banks track Treasury yields higher as investors bet on Biden win ** Bristol Myers BMY.N: up 3.7% BUZZ-Up after psoriasis drug meets main goals in late-stage study ** STRATA Skin Science SSKN.O: up 8.9% BUZZ-STRATA Skin Sciences rises after brokerage upgrades to 'buy' ** Exelon EXC.O: up 3.7% BUZZ-Up as co weighs separating generation business from utilities ** Arista Networks ANET.N: up 15.7% BUZZ-Surges after beating profit est for third quarter ** Uber Technologies Inc UBER.N: up 3.0% ** Lyft Inc LYFT.O: up 6.6% BUZZ-Bernstein says focus on California's gig-worker ballot measure ** Wayfair W.N: up 7.5% BUZZ-Jumps as Q3 revenue beats estimates ** Pacific Biosciences PACB.O: down 3.4% BUZZ-Drops on missing Q3 revenue estimates ** McKesson Corp MCK.N: up 5.4% BUZZ-Up after raising profit forecast ** Zebra Technologies ZBRA.O: up 7.5% BUZZ-Rises on better-than-expected results, forecast ** Beasley Broadcast Group BBGI.O: up 33.8% BUZZ-Soars; co expects to reduce op-ex by $32 mln
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 2.04%
Consumer Discretionary
.SPLRCD
up 2.20%
Consumer Staples
.SPLRCS
up 1.70%
Energy
.SPNY
down 0.88%
Financial
.SPSY
up 2.38%
Health
.SPXHC
up 1.45%
Industrial
.SPLRCI
up 2.34%
Information Technology
.SPLRCT
up 2.02%
Materials
.SPLRCM
up 1.14%
Real Estate
.SPLRCR
up 1.62%
Utilities
.SPLRCU
up 1.29%
(Compiled by Arundhati Sarkar in Bengaluru)
((Arundhati.Sarkar@thomsonreuters.com; twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | KBLM.O, down 22.3 % ** Biomarin Pharma BMRN.O: down 2.0% BUZZ-Falls on concerns over FDA review of growth disorder treatment ** Humana HUM.N: up 2.6% BUZZ-Rises on strong 2021 profit outlook, Q3 earnings ** Emerson Electric EMR.N: up 2.3% BUZZ-Emerson Electric: Gains after cost cuts drive quarterly profit beat ** Aptevo Therapeutics APVO.O: up 19.5% BUZZ-Surges after cancer symptoms disappear in study patient ** Eaton Corp ETN.N: up 2.4% BUZZ-Up on Q3 results beat ** Fabrinet FN.N: up 7.2% BUZZ-Hits 2-month high after Q1 results beat estimates ** Spirit AeroSystems SPR.N: up 4.0% BUZZ-Up after forecasting lower 2021 cash burn ** Alibaba BABA.N: down 8.0% BUZZ-Drops after Shanghai stock exchange suspends Ant's A-share IPO ** Fox Corp FOXA.O: down 2.8% BUZZ-Rises after Q1 profit beat ** Designer Brands DBI.N: up 12.1% BUZZ-Rises as Susquehanna upgrades to 'neutral' ** GW Pharma GWPH.O : up 22.5% BUZZ-Up as co starts study on cannabis-based drug for MS, Q3 results ** Telenav TNAV.O: up 20.2% BUZZ-Jumps on go-private deal with CEO-led firm ** Ferrari NV RACE.N: up 7.7% BUZZ-Zooms after raising profit forecast as shipments recover ** CDW Corp CDW.O: up 3.2% BUZZ-Brokerages turn bullish after upbeat Q3 ** 3D Systems Corp DDD.N: up 6.6% BUZZ-Rises on $65 mln sale of software businesses ** UnitedHealth UNH.N: up 2.8% ** Anthem ANTM.N: up 4.9% ** Humana HUM.N: up 2.6% BUZZ-Health insurers trade higher ahead of U.S. presidential elections ** Thomson Reuters TRI.N: up 3.6% BUZZ-Profit beat lifts stock ** Sysco Corp SYY.N: up 6.3% BUZZ-Rises on better-than-expected quarterly results ** Aurinia Pharma AUPH.O: down 12.7% BUZZ-Falls on failure of dry-eye syndrome drug study ** Gilead Sciences Inc GILD.O: up 0.4% BUZZ-Value investors should keep Gilead Sciences on the radar: Mizuho ** Tilray TLRY.O: down 1.4% ** Cronos CRON.O: down 0.2% ** Sundial Growers SNDL.O: !RIC {RIC.NB} is invalid ** Aurora Cannabis ACB.N: up 1.1% BUZZ-Pot stocks gain as investors bet on Biden-Harris victory ** Esperion Therapeutic ESPR.O: down 15.7% BUZZ-Analysts ring alarm bells over cash balance ** Jakks Pacific Inc JAKK.O: up 25.1% BUZZ-Surges as Q3 results beat ** Paypal PYPL.O: down 2.5% BUZZ-Falls on disappointing Q4 outlook; some analysts remain bullish ** Mondelez International Inc MDLZ.O: up 0.4% BUZZ-Mondelez forecast suggests strong momentum in 2021 ** Trivago NV TRVG.O: up 3.5% BUZZ-Jumps on smaller-than-expected loss in Q3 ** TechnipFMC FTI.N: up 1.2% BUZZ-Rises on stake disclosure by shareholder ** Biogen BIIB.O: down 2.0% BUZZ-Cantor slashes PT on concerns over Spinraza competition, growth ** Plug Power PLUG.O: up 9.5% BUZZ-Gains after D.E. Shaw discloses passive stake ** Alaska Communications ALSK.O: up 57.9% BUZZ-Soars on go-private deal ** Baxter BAX.N: down 0.2% BUZZ-Fall in Baxter shares potential "buying opportunity" - JPM ** Goldman Sachs GS.N: up 4.1% ** JPMorgan Chase & Co JPM.N: up 3.2% ** Morgan Stanley MS.N: up 2.9% BUZZ-U.S. banks track Treasury yields higher as investors bet on Biden win ** Bristol Myers BMY.N: up 3.7% BUZZ-Up after psoriasis drug meets main goals in late-stage study ** STRATA Skin Science SSKN.O: up 8.9% BUZZ-STRATA Skin Sciences rises after brokerage upgrades to 'buy' ** Exelon EXC.O: up 3.7% BUZZ-Up as co weighs separating generation business from utilities ** Arista Networks ANET.N: up 15.7% BUZZ-Surges after beating profit est for third quarter ** Uber Technologies Inc UBER.N: up 3.0% ** Lyft Inc LYFT.O: up 6.6% BUZZ-Bernstein says focus on California's gig-worker ballot measure ** Wayfair W.N: up 7.5% BUZZ-Jumps as Q3 revenue beats estimates ** Pacific Biosciences PACB.O: down 3.4% BUZZ-Drops on missing Q3 revenue estimates ** McKesson Corp MCK.N: up 5.4% BUZZ-Up after raising profit forecast ** Zebra Technologies ZBRA.O: up 7.5% BUZZ-Rises on better-than-expected results, forecast ** Beasley Broadcast Group BBGI.O: up 33.8% BUZZ-Soars; co expects to reduce op-ex by $32 mln The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes jumped on Tuesday as investors bet that one of the country's most divisive presidential races could end with a clear victory for Democratic nominee Joe Biden and a swift deal on more fiscal stimulus. | KBLM.O, down 22.3 % ** Biomarin Pharma BMRN.O: down 2.0% BUZZ-Falls on concerns over FDA review of growth disorder treatment ** Humana HUM.N: up 2.6% BUZZ-Rises on strong 2021 profit outlook, Q3 earnings ** Emerson Electric EMR.N: up 2.3% BUZZ-Emerson Electric: Gains after cost cuts drive quarterly profit beat ** Aptevo Therapeutics APVO.O: up 19.5% BUZZ-Surges after cancer symptoms disappear in study patient ** Eaton Corp ETN.N: up 2.4% BUZZ-Up on Q3 results beat ** Fabrinet FN.N: up 7.2% BUZZ-Hits 2-month high after Q1 results beat estimates ** Spirit AeroSystems SPR.N: up 4.0% BUZZ-Up after forecasting lower 2021 cash burn ** Alibaba BABA.N: down 8.0% BUZZ-Drops after Shanghai stock exchange suspends Ant's A-share IPO ** Fox Corp FOXA.O: down 2.8% BUZZ-Rises after Q1 profit beat ** Designer Brands DBI.N: up 12.1% BUZZ-Rises as Susquehanna upgrades to 'neutral' ** GW Pharma GWPH.O : up 22.5% BUZZ-Up as co starts study on cannabis-based drug for MS, Q3 results ** Telenav TNAV.O: up 20.2% BUZZ-Jumps on go-private deal with CEO-led firm ** Ferrari NV RACE.N: up 7.7% BUZZ-Zooms after raising profit forecast as shipments recover ** CDW Corp CDW.O: up 3.2% BUZZ-Brokerages turn bullish after upbeat Q3 ** 3D Systems Corp DDD.N: up 6.6% BUZZ-Rises on $65 mln sale of software businesses ** UnitedHealth UNH.N: up 2.8% ** Anthem ANTM.N: up 4.9% ** Humana HUM.N: up 2.6% BUZZ-Health insurers trade higher ahead of U.S. presidential elections ** Thomson Reuters TRI.N: up 3.6% BUZZ-Profit beat lifts stock ** Sysco Corp SYY.N: up 6.3% BUZZ-Rises on better-than-expected quarterly results ** Aurinia Pharma AUPH.O: down 12.7% BUZZ-Falls on failure of dry-eye syndrome drug study ** Gilead Sciences Inc GILD.O: up 0.4% BUZZ-Value investors should keep Gilead Sciences on the radar: Mizuho ** Tilray TLRY.O: down 1.4% ** Cronos CRON.O: down 0.2% ** Sundial Growers SNDL.O: !RIC {RIC.NB} is invalid ** Aurora Cannabis ACB.N: up 1.1% BUZZ-Pot stocks gain as investors bet on Biden-Harris victory ** Esperion Therapeutic ESPR.O: down 15.7% BUZZ-Analysts ring alarm bells over cash balance ** Jakks Pacific Inc JAKK.O: up 25.1% BUZZ-Surges as Q3 results beat ** Paypal PYPL.O: down 2.5% BUZZ-Falls on disappointing Q4 outlook; some analysts remain bullish ** Mondelez International Inc MDLZ.O: up 0.4% BUZZ-Mondelez forecast suggests strong momentum in 2021 ** Trivago NV TRVG.O: up 3.5% BUZZ-Jumps on smaller-than-expected loss in Q3 ** TechnipFMC FTI.N: up 1.2% BUZZ-Rises on stake disclosure by shareholder ** Biogen BIIB.O: down 2.0% BUZZ-Cantor slashes PT on concerns over Spinraza competition, growth ** Plug Power PLUG.O: up 9.5% BUZZ-Gains after D.E. Shaw discloses passive stake ** Alaska Communications ALSK.O: up 57.9% BUZZ-Soars on go-private deal ** Baxter BAX.N: down 0.2% BUZZ-Fall in Baxter shares potential "buying opportunity" - JPM ** Goldman Sachs GS.N: up 4.1% ** JPMorgan Chase & Co JPM.N: up 3.2% ** Morgan Stanley MS.N: up 2.9% BUZZ-U.S. banks track Treasury yields higher as investors bet on Biden win ** Bristol Myers BMY.N: up 3.7% BUZZ-Up after psoriasis drug meets main goals in late-stage study ** STRATA Skin Science SSKN.O: up 8.9% BUZZ-STRATA Skin Sciences rises after brokerage upgrades to 'buy' ** Exelon EXC.O: up 3.7% BUZZ-Up as co weighs separating generation business from utilities ** Arista Networks ANET.N: up 15.7% BUZZ-Surges after beating profit est for third quarter ** Uber Technologies Inc UBER.N: up 3.0% ** Lyft Inc LYFT.O: up 6.6% BUZZ-Bernstein says focus on California's gig-worker ballot measure ** Wayfair W.N: up 7.5% BUZZ-Jumps as Q3 revenue beats estimates ** Pacific Biosciences PACB.O: down 3.4% BUZZ-Drops on missing Q3 revenue estimates ** McKesson Corp MCK.N: up 5.4% BUZZ-Up after raising profit forecast ** Zebra Technologies ZBRA.O: up 7.5% BUZZ-Rises on better-than-expected results, forecast ** Beasley Broadcast Group BBGI.O: up 33.8% BUZZ-Soars; co expects to reduce op-ex by $32 mln The 11 major S&P 500 sectors: Communication Services The top three S&P 500 .PG.INX percentage gainers: ** Arista Networks ANET.N, up 15.7% ** Gartner IT.N, up 11.6% ** Catalent CTLT.N, up 7.7% The top three S&P 500 .PL.INX percentage losers: ** Mosaic MOS.N, down 12.9% ** Leggett& Platt LEG.N, down 6.6% ** CF Industries CF.N, down 4.7% The top three NYSE .PG.N percentage gainers: ** Inspre Med Systm INSP.N, up 26.4% ** Ellomay Capital ELLO.N, up 21.7% ** Arista Networks ANET.N, up 15.7% The top three NYSE .PL.N percentage losers: ** Ambow Education AMBO.N, down 30.7% ** Greenhill GHL.N, down 20.4% ** Intrepid Potash IPI.N, down 18.3% The top Nasdaq .PG.O percentage gainers: ** Alaska Communications ALSK.O, up 57.9% ** BioLine RX BLRX.O, up 35.4% The top Nasdaq .PL.O percentage losers: ** Solaredge SEDG.O, down 23.8 % ** KBL Merger Corp. IV. | KBLM.O, down 22.3 % ** Biomarin Pharma BMRN.O: down 2.0% BUZZ-Falls on concerns over FDA review of growth disorder treatment ** Humana HUM.N: up 2.6% BUZZ-Rises on strong 2021 profit outlook, Q3 earnings ** Emerson Electric EMR.N: up 2.3% BUZZ-Emerson Electric: Gains after cost cuts drive quarterly profit beat ** Aptevo Therapeutics APVO.O: up 19.5% BUZZ-Surges after cancer symptoms disappear in study patient ** Eaton Corp ETN.N: up 2.4% BUZZ-Up on Q3 results beat ** Fabrinet FN.N: up 7.2% BUZZ-Hits 2-month high after Q1 results beat estimates ** Spirit AeroSystems SPR.N: up 4.0% BUZZ-Up after forecasting lower 2021 cash burn ** Alibaba BABA.N: down 8.0% BUZZ-Drops after Shanghai stock exchange suspends Ant's A-share IPO ** Fox Corp FOXA.O: down 2.8% BUZZ-Rises after Q1 profit beat ** Designer Brands DBI.N: up 12.1% BUZZ-Rises as Susquehanna upgrades to 'neutral' ** GW Pharma GWPH.O : up 22.5% BUZZ-Up as co starts study on cannabis-based drug for MS, Q3 results ** Telenav TNAV.O: up 20.2% BUZZ-Jumps on go-private deal with CEO-led firm ** Ferrari NV RACE.N: up 7.7% BUZZ-Zooms after raising profit forecast as shipments recover ** CDW Corp CDW.O: up 3.2% BUZZ-Brokerages turn bullish after upbeat Q3 ** 3D Systems Corp DDD.N: up 6.6% BUZZ-Rises on $65 mln sale of software businesses ** UnitedHealth UNH.N: up 2.8% ** Anthem ANTM.N: up 4.9% ** Humana HUM.N: up 2.6% BUZZ-Health insurers trade higher ahead of U.S. presidential elections ** Thomson Reuters TRI.N: up 3.6% BUZZ-Profit beat lifts stock ** Sysco Corp SYY.N: up 6.3% BUZZ-Rises on better-than-expected quarterly results ** Aurinia Pharma AUPH.O: down 12.7% BUZZ-Falls on failure of dry-eye syndrome drug study ** Gilead Sciences Inc GILD.O: up 0.4% BUZZ-Value investors should keep Gilead Sciences on the radar: Mizuho ** Tilray TLRY.O: down 1.4% ** Cronos CRON.O: down 0.2% ** Sundial Growers SNDL.O: !RIC {RIC.NB} is invalid ** Aurora Cannabis ACB.N: up 1.1% BUZZ-Pot stocks gain as investors bet on Biden-Harris victory ** Esperion Therapeutic ESPR.O: down 15.7% BUZZ-Analysts ring alarm bells over cash balance ** Jakks Pacific Inc JAKK.O: up 25.1% BUZZ-Surges as Q3 results beat ** Paypal PYPL.O: down 2.5% BUZZ-Falls on disappointing Q4 outlook; some analysts remain bullish ** Mondelez International Inc MDLZ.O: up 0.4% BUZZ-Mondelez forecast suggests strong momentum in 2021 ** Trivago NV TRVG.O: up 3.5% BUZZ-Jumps on smaller-than-expected loss in Q3 ** TechnipFMC FTI.N: up 1.2% BUZZ-Rises on stake disclosure by shareholder ** Biogen BIIB.O: down 2.0% BUZZ-Cantor slashes PT on concerns over Spinraza competition, growth ** Plug Power PLUG.O: up 9.5% BUZZ-Gains after D.E. Shaw discloses passive stake ** Alaska Communications ALSK.O: up 57.9% BUZZ-Soars on go-private deal ** Baxter BAX.N: down 0.2% BUZZ-Fall in Baxter shares potential "buying opportunity" - JPM ** Goldman Sachs GS.N: up 4.1% ** JPMorgan Chase & Co JPM.N: up 3.2% ** Morgan Stanley MS.N: up 2.9% BUZZ-U.S. banks track Treasury yields higher as investors bet on Biden win ** Bristol Myers BMY.N: up 3.7% BUZZ-Up after psoriasis drug meets main goals in late-stage study ** STRATA Skin Science SSKN.O: up 8.9% BUZZ-STRATA Skin Sciences rises after brokerage upgrades to 'buy' ** Exelon EXC.O: up 3.7% BUZZ-Up as co weighs separating generation business from utilities ** Arista Networks ANET.N: up 15.7% BUZZ-Surges after beating profit est for third quarter ** Uber Technologies Inc UBER.N: up 3.0% ** Lyft Inc LYFT.O: up 6.6% BUZZ-Bernstein says focus on California's gig-worker ballot measure ** Wayfair W.N: up 7.5% BUZZ-Jumps as Q3 revenue beats estimates ** Pacific Biosciences PACB.O: down 3.4% BUZZ-Drops on missing Q3 revenue estimates ** McKesson Corp MCK.N: up 5.4% BUZZ-Up after raising profit forecast ** Zebra Technologies ZBRA.O: up 7.5% BUZZ-Rises on better-than-expected results, forecast ** Beasley Broadcast Group BBGI.O: up 33.8% BUZZ-Soars; co expects to reduce op-ex by $32 mln The 11 major S&P 500 sectors: Communication Services The top three S&P 500 .PG.INX percentage gainers: ** Arista Networks ANET.N, up 15.7% ** Gartner IT.N, up 11.6% ** Catalent CTLT.N, up 7.7% The top three S&P 500 .PL.INX percentage losers: ** Mosaic MOS.N, down 12.9% ** Leggett& Platt LEG.N, down 6.6% ** CF Industries CF.N, down 4.7% The top three NYSE .PG.N percentage gainers: ** Inspre Med Systm INSP.N, up 26.4% ** Ellomay Capital ELLO.N, up 21.7% ** Arista Networks ANET.N, up 15.7% The top three NYSE .PL.N percentage losers: ** Ambow Education AMBO.N, down 30.7% ** Greenhill GHL.N, down 20.4% ** Intrepid Potash IPI.N, down 18.3% The top Nasdaq .PG.O percentage gainers: ** Alaska Communications ALSK.O, up 57.9% ** BioLine RX BLRX.O, up 35.4% The top Nasdaq .PL.O percentage losers: ** Solaredge SEDG.O, down 23.8 % ** KBL Merger Corp. IV. | KBLM.O, down 22.3 % ** Biomarin Pharma BMRN.O: down 2.0% BUZZ-Falls on concerns over FDA review of growth disorder treatment ** Humana HUM.N: up 2.6% BUZZ-Rises on strong 2021 profit outlook, Q3 earnings ** Emerson Electric EMR.N: up 2.3% BUZZ-Emerson Electric: Gains after cost cuts drive quarterly profit beat ** Aptevo Therapeutics APVO.O: up 19.5% BUZZ-Surges after cancer symptoms disappear in study patient ** Eaton Corp ETN.N: up 2.4% BUZZ-Up on Q3 results beat ** Fabrinet FN.N: up 7.2% BUZZ-Hits 2-month high after Q1 results beat estimates ** Spirit AeroSystems SPR.N: up 4.0% BUZZ-Up after forecasting lower 2021 cash burn ** Alibaba BABA.N: down 8.0% BUZZ-Drops after Shanghai stock exchange suspends Ant's A-share IPO ** Fox Corp FOXA.O: down 2.8% BUZZ-Rises after Q1 profit beat ** Designer Brands DBI.N: up 12.1% BUZZ-Rises as Susquehanna upgrades to 'neutral' ** GW Pharma GWPH.O : up 22.5% BUZZ-Up as co starts study on cannabis-based drug for MS, Q3 results ** Telenav TNAV.O: up 20.2% BUZZ-Jumps on go-private deal with CEO-led firm ** Ferrari NV RACE.N: up 7.7% BUZZ-Zooms after raising profit forecast as shipments recover ** CDW Corp CDW.O: up 3.2% BUZZ-Brokerages turn bullish after upbeat Q3 ** 3D Systems Corp DDD.N: up 6.6% BUZZ-Rises on $65 mln sale of software businesses ** UnitedHealth UNH.N: up 2.8% ** Anthem ANTM.N: up 4.9% ** Humana HUM.N: up 2.6% BUZZ-Health insurers trade higher ahead of U.S. presidential elections ** Thomson Reuters TRI.N: up 3.6% BUZZ-Profit beat lifts stock ** Sysco Corp SYY.N: up 6.3% BUZZ-Rises on better-than-expected quarterly results ** Aurinia Pharma AUPH.O: down 12.7% BUZZ-Falls on failure of dry-eye syndrome drug study ** Gilead Sciences Inc GILD.O: up 0.4% BUZZ-Value investors should keep Gilead Sciences on the radar: Mizuho ** Tilray TLRY.O: down 1.4% ** Cronos CRON.O: down 0.2% ** Sundial Growers SNDL.O: !RIC {RIC.NB} is invalid ** Aurora Cannabis ACB.N: up 1.1% BUZZ-Pot stocks gain as investors bet on Biden-Harris victory ** Esperion Therapeutic ESPR.O: down 15.7% BUZZ-Analysts ring alarm bells over cash balance ** Jakks Pacific Inc JAKK.O: up 25.1% BUZZ-Surges as Q3 results beat ** Paypal PYPL.O: down 2.5% BUZZ-Falls on disappointing Q4 outlook; some analysts remain bullish ** Mondelez International Inc MDLZ.O: up 0.4% BUZZ-Mondelez forecast suggests strong momentum in 2021 ** Trivago NV TRVG.O: up 3.5% BUZZ-Jumps on smaller-than-expected loss in Q3 ** TechnipFMC FTI.N: up 1.2% BUZZ-Rises on stake disclosure by shareholder ** Biogen BIIB.O: down 2.0% BUZZ-Cantor slashes PT on concerns over Spinraza competition, growth ** Plug Power PLUG.O: up 9.5% BUZZ-Gains after D.E. Shaw discloses passive stake ** Alaska Communications ALSK.O: up 57.9% BUZZ-Soars on go-private deal ** Baxter BAX.N: down 0.2% BUZZ-Fall in Baxter shares potential "buying opportunity" - JPM ** Goldman Sachs GS.N: up 4.1% ** JPMorgan Chase & Co JPM.N: up 3.2% ** Morgan Stanley MS.N: up 2.9% BUZZ-U.S. banks track Treasury yields higher as investors bet on Biden win ** Bristol Myers BMY.N: up 3.7% BUZZ-Up after psoriasis drug meets main goals in late-stage study ** STRATA Skin Science SSKN.O: up 8.9% BUZZ-STRATA Skin Sciences rises after brokerage upgrades to 'buy' ** Exelon EXC.O: up 3.7% BUZZ-Up as co weighs separating generation business from utilities ** Arista Networks ANET.N: up 15.7% BUZZ-Surges after beating profit est for third quarter ** Uber Technologies Inc UBER.N: up 3.0% ** Lyft Inc LYFT.O: up 6.6% BUZZ-Bernstein says focus on California's gig-worker ballot measure ** Wayfair W.N: up 7.5% BUZZ-Jumps as Q3 revenue beats estimates ** Pacific Biosciences PACB.O: down 3.4% BUZZ-Drops on missing Q3 revenue estimates ** McKesson Corp MCK.N: up 5.4% BUZZ-Up after raising profit forecast ** Zebra Technologies ZBRA.O: up 7.5% BUZZ-Rises on better-than-expected results, forecast ** Beasley Broadcast Group BBGI.O: up 33.8% BUZZ-Soars; co expects to reduce op-ex by $32 mln The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes jumped on Tuesday as investors bet that one of the country's most divisive presidential races could end with a clear victory for Democratic nominee Joe Biden and a swift deal on more fiscal stimulus. |
37184.0 | 2020-11-03 00:00:00 UTC | Another Marijuana Stock Reverse Split Is on Deck | ACB | https://www.nasdaq.com/articles/another-marijuana-stock-reverse-split-is-on-deck-2020-11-03 | nan | nan | The next decade looks very promising for the North American cannabis industry. With tens of billions of dollars in black-market marijuana sales conducted annually, we know the demand for pot products is there. As more U.S. states legalize marijuana, and the legal Canadian pot industry matures, there's definitely potential for investors to see the green.
But it's also important to recognize that not every company in a high-growth space can be a winner. Thus far, it's a lesson that investors of Canadian licensed producers know all too well.
Image source: Getty Images.
Canadian pot stocks have lost their buzz
Canada was expected to be the global blueprint for adult-use weed legalization. However, it's completely fouled up its chance to be a cannabis leader.
Part of the blame lies with federal and provincial regulators, which have done a poor job of setting up the Canadian pot industry for success. Health Canada was particularly slow in reviewing and approving cultivation, processing, and sales licenses, and also delayed the launch of higher-margin derivative products (e.g., edibles, vapes, topicals, concentrates, and beverages) by two months.
At the provincial level, we witnessed Canada's most-populous province (Ontario) stick with an ineffective lottery system for assigning retail licenses through 2019. By the one-year anniversary of adult-use legalization (Oct. 17, 2019), only 24 dispensaries were open in a province that could reasonably house 1,000 retail locations. Ontario has since abandoned its lottery system in favor of a traditional application vetting process, but the damage has been done.
Licensed producers (LPs) also deserve their fair share of the blame, with many expanding capacity far above and beyond what would be necessary to satisfy Canadian consumers, when taking into account how many LPs were competing against each other.
It's for all these reasons that Canadian marijuana stocks have been an utter disaster.
But it can always get worse.
Image source: Getty Images.
Reverse-split mania hits Wall Street
In May, the most popular pot stock among millennials, Aurora Cannabis (NYSE: ACB), was forced to enact a 1-for-12 reverse split to avoid being delisted from the New York Stock Exchange (NYSE). Aurora's share price had been middling under $1 for months, and the NYSE requires a minimum share price of at least $1 for continued listing. A reverse split was an easy way for the company to remedy its insufficient share price.
However, reverse splits are often viewed negatively by the investment community. Consolidating stock to boost a company's share price is almost always done to avoid delisting. And the primary reason a publicly traded stock would facing delisting is due to poor operating performance. That's most definitely been the case with Aurora Cannabis, which reported a whopping net loss of $3.3 billion Canadian in fiscal 2020. This net loss includes over CA$2.8 billion in writedowns tied to overpriced acquisitions, closed facilities, and cannabis oversupply.
But Aurora's not alone.
Last week, Quebec-based LP HEXO (NYSE: HEXO) proposed a 1-for-8 reverse split that would help the company avoid delisting from the NYSE. If approved by its shareholders and regulators, it would take effect in mid-December and lift HEXO's share price close to $5 (based on a $0.6075 closing price on Oct. 30).
If Aurora's more than 50% loss since reverse-splitting its shares in May are any indication, HEXO's stock could be facing some rough times ahead.
Image source: Getty Images.
A reverse split doesn't resolve HEXO's pressing issues
The problems for HEXO extend well beyond its persistently low share price.
To begin with, the company grossly overpaid for the Newstrike Brands acquisition, which was completed in May 2019. HEXO was counting on the Newstrike's Niagara facility to push peak annual output potential to at least 150,000 kilos of cannabis. But given the numerous issues the domestic market is contending with, the Niagara facility was an expense that HEXO simply couldn't lug around. Roughly 13 months after the CA$263 million deal was completed, and a couple of months after shuttering the Niagara grow farm, HEXO sold the Niagara facility for a mere CA$10.25 million. This prompted big writedowns and a huge loss in fiscal 2020.
Another issue for HEXO (as well as most LPs) is that it's being forced to go toe-to-toe with the black market. Even with Canadian regulators assigning a relatively low tax rate on legal pot purchases, LPs have struggled to complete with low-cost illicit weed. As a result, companies like HEXO have had to introduce value brands to attract cannabis consumers. While building customer rapport is great, the margins associated with value cannabis are terrible. Without a significant uptick in derivative sales, HEXO looks to be years away from turning the corner to profitability.
Making matters worse, HEXO is also facing a cash crunch. The company has been regularly selling its common stock to raise capital because it can't stop losing money and burning through its cash on hand. Between July 31, 2019 and July 31, 2020, HEXO share count nearly doubled from 257 million to 482.5 million. This type of share-based dilution absolutely crushes long-term investors.
In other words, don't be shocked if HEXO's share price continues to get pummeled after enacting a reverse split.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Sean Williams has no position in any of the stocks mentioned. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Reverse-split mania hits Wall Street In May, the most popular pot stock among millennials, Aurora Cannabis (NYSE: ACB), was forced to enact a 1-for-12 reverse split to avoid being delisted from the New York Stock Exchange (NYSE). Health Canada was particularly slow in reviewing and approving cultivation, processing, and sales licenses, and also delayed the launch of higher-margin derivative products (e.g., edibles, vapes, topicals, concentrates, and beverages) by two months. Even with Canadian regulators assigning a relatively low tax rate on legal pot purchases, LPs have struggled to complete with low-cost illicit weed. | Reverse-split mania hits Wall Street In May, the most popular pot stock among millennials, Aurora Cannabis (NYSE: ACB), was forced to enact a 1-for-12 reverse split to avoid being delisted from the New York Stock Exchange (NYSE). As more U.S. states legalize marijuana, and the legal Canadian pot industry matures, there's definitely potential for investors to see the green. This net loss includes over CA$2.8 billion in writedowns tied to overpriced acquisitions, closed facilities, and cannabis oversupply. | Reverse-split mania hits Wall Street In May, the most popular pot stock among millennials, Aurora Cannabis (NYSE: ACB), was forced to enact a 1-for-12 reverse split to avoid being delisted from the New York Stock Exchange (NYSE). Last week, Quebec-based LP HEXO (NYSE: HEXO) proposed a 1-for-8 reverse split that would help the company avoid delisting from the NYSE. A reverse split doesn't resolve HEXO's pressing issues The problems for HEXO extend well beyond its persistently low share price. | Reverse-split mania hits Wall Street In May, the most popular pot stock among millennials, Aurora Cannabis (NYSE: ACB), was forced to enact a 1-for-12 reverse split to avoid being delisted from the New York Stock Exchange (NYSE). As more U.S. states legalize marijuana, and the legal Canadian pot industry matures, there's definitely potential for investors to see the green. However, reverse splits are often viewed negatively by the investment community. |
37185.0 | 2020-11-03 00:00:00 UTC | Why Aurora Cannabis' Latest Good News Doesn't Outweigh Its Bad News | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-latest-good-news-doesnt-outweigh-its-bad-news-2020-11-03 | nan | nan | Aurora Cannabis (NYSE: ACB) is on a roll. Granted, it's a very short roll. Still, Aurora's shares are up more than 10% since the company announced good news last Friday. What was this good news that got investors fired up? Aurora stated that its net revenue for the three months ending Sept. 30, 2020, is expected to be at the high end of its previously announced guidance range.
The cannabis producer won't announce its fiscal 2021 first-quarter results until Nov. 9, but investors now know to expect net revenue of close to 64 million in Canadian dollars. This revenue will consist almost entirely of cannabis sales after Aurora's divestiture of its non-cannabis subsidiaries in fiscal 2020.
Is this a sign that marijuana stock could be about to make a big comeback? Not necessarily. The reality is that Aurora's latest good news doesn't outweigh its bad news.
Image source: Getty Images.
Six words that can't be overlooked
There were six words included with Aurora's good news about hitting the upper end of its revenue guidance range that provide important context: "compared to $67.5 million in Q4 2020." Even if the company does generate net revenue of CA$64 million in its fiscal 2021 Q1 results, it will still reflect a quarter-over-quarter decline of more than 5%.
Perhaps this wouldn't be too concerning if it was an anomaly for Aurora. And maybe if the company's biggest rival was facing a similar decline, there would be less of a reason for concern.
However, Aurora posted a sequential revenue decline in its last quarter, too. It wasn't just because of the company's divestitures, either. Aurora's cannabis revenue in fiscal 2020 Q4 fell 3% from the previous quarter.
Aurora's big rival, Canopy Growth, recorded quarter-over-quarter revenue growth in its latest quarter. Granted, Canadian recreational cannabis sales slipped. However, Canopy more than made up for this decline with its strong medical cannabis sales growth in both Canada and in Europe.
More bad news than good
It's also important to note that Aurora's fiscal Q1 revenue projection came along with some not-so-great news: The company filed a shelf prospectus with all Canadian provinces except Quebec and a corresponding shelf registration statement with the U.S. Securities and Exchange Commission. This means that more dilution is on the way.
Unfortunately, we're not talking about a small amount of dilution. Aurora's shelf registration stated that it could sell up to US$500 million worth of new shares. That amount is roughly equivalent to the company's current market cap.
Granted, Aurora isn't obligated to sell all of the shares that its shelf registration indicates that it could sell. However, investors who responded enthusiastically to the company's good news about its fiscal Q1 revenue could be overlooking the fact that the recent gains for the stock would be completely wiped out even if Aurora only issues a fraction of the new shares that it could.
The need for Aurora to issue new shares underscores the company's biggest problem: its ongoing lack of profitability. Aurora continues to post huge net losses each quarter. The Canadian cannabis producer, however, remains optimistic that it will generate positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in the second quarter of fiscal 2021.
The good news Aurora really needs
Hitting near the upper end of a revenue range that reflects a continued negative trend of declines simply isn't enough good news to outweigh Aurora's bad news. So what kind of good news would move the needle in a major way for Aurora?
One positive development could come as a result of the U.S. elections. Should Democrats regain control of the Senate and Joe Biden defeat Donald Trump, the prospects for marijuana legalization at the federal level in the U.S. would increase significantly. This would be potentially huge for Aurora since it could open up the lucrative U.S. marijuana market to the company.
Another big milestone for Aurora would be for the company to not only deliver positive adjusted EBITDA in its fiscal 2021 Q2 but to also stake out a clear path to full profitability. Such a move would reassure investors that Aurora won't have to resort to dilution-causing stock offerings in the future.
Despite all of its challenges, Aurora remains the most popular pot stock on Robinhood and continues to be widely followed by many investors interested in the cannabis industry. However, until the company's good news can consistently outweigh its bad news, Aurora's popularity isn't likely to be accompanied by winning returns.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) is on a roll. The cannabis producer won't announce its fiscal 2021 first-quarter results until Nov. 9, but investors now know to expect net revenue of close to 64 million in Canadian dollars. However, investors who responded enthusiastically to the company's good news about its fiscal Q1 revenue could be overlooking the fact that the recent gains for the stock would be completely wiped out even if Aurora only issues a fraction of the new shares that it could. | Aurora Cannabis (NYSE: ACB) is on a roll. Six words that can't be overlooked There were six words included with Aurora's good news about hitting the upper end of its revenue guidance range that provide important context: "compared to $67.5 million in Q4 2020." Aurora's big rival, Canopy Growth, recorded quarter-over-quarter revenue growth in its latest quarter. | Aurora Cannabis (NYSE: ACB) is on a roll. More bad news than good It's also important to note that Aurora's fiscal Q1 revenue projection came along with some not-so-great news: The company filed a shelf prospectus with all Canadian provinces except Quebec and a corresponding shelf registration statement with the U.S. Securities and Exchange Commission. However, investors who responded enthusiastically to the company's good news about its fiscal Q1 revenue could be overlooking the fact that the recent gains for the stock would be completely wiped out even if Aurora only issues a fraction of the new shares that it could. | Aurora Cannabis (NYSE: ACB) is on a roll. Still, Aurora's shares are up more than 10% since the company announced good news last Friday. The reality is that Aurora's latest good news doesn't outweigh its bad news. |
37186.0 | 2020-11-03 00:00:00 UTC | 3 Marijuana Stocks That Won’t Last the Next 4 Years | ACB | https://www.nasdaq.com/articles/3-marijuana-stocks-that-wont-last-the-next-4-years-2020-11-03 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Investors are positioning their portfolios for the last quarter of 2020, a difficult year for most marijuana stocks. Many lost a significant portion of their value. While shareholders wonder what may be next, we will discuss marijuana stocks that may not be around in the coming years.
In 2018, during the initial days of cannabis legalization in Canada, there was euphoria surrounding most pot stocks. In a recent study published in the University of Miami International and Comparative Law Review, Stephanie Ben-Ishai cites, “When cannabis was first legalized, the market capitalization of the industry as a whole in Canada exceeded that of publicly traded grocery stores, implying that consumers would spend more on cannabis than on groceries.”
That would have been an unrealistic expectation. Understandably, over the past two years, those valuations have certainly come down. Cannabis is an agricultural produce, bound by laws of supply and demand. Despite legalization, the black market in Canada, where the price of the produce is cheaper, is still going strong. High hopes around “Legalization 2.0,” which means edibles and pot vapes, did not generate much revenue for most companies, either.
Moreover, Canadian medicinal use and exports have not necessarily increased enough to make a positive impact for producers. The industry has too many players for each to benefit. Put another way, 2021 may become the year of consolidation.
Most analysts agree that unless there is a legal change at the U.S. federal level, cannabis stocks’ revenue is unlikely to improve. Unless there is increased revenue, a number of companies will find it close to impossible to survive.
7 Hot Stocks to Buy With Mega-Cap Status
Here are three marijuana stocks that are likely to have a difficult time in coming quarters:
Aurora Cannabis (NYSE:ACB)
Hexo (NYSE:HEXO)
MedMen (OTCMKTS:MMNFF)
Marijuana Stocks: Aurora Cannabis (ACB)
Source: Shutterstock
Our first discussion centers around Edmonton, Canada-based Aurora Cannabis, which gets significant investor interest. It was originally one of the darlings of the cannabis space.
Marijuana heavyweight ACB started trading first on the Toronto Venture Exchange (TSXV) in 2016. A year later it moved to the Toronto Stock Exchange (TSX). Late 2018 saw Aurora Cannabis list its shares on the NYSE. In a matter of days, ACB stock hit an all-time high of almost $120. But since then optimism has faded as the stock changes hand around $4. It is down close to 85% this year.
In recent months, the company has been selling shares and issuing debt securities, leading to a dilution in shareholder wealth. Quarter after quarter, it has been announcing less-than-impressive financial results and providing tepid guidance at best. Continued losses simply mean it is burning investor wealth with no end in sight to financial woes.
As of this writing, short interest in ACB is high and stands at around 20%. Contrarian investors may expect this metric to lead to a short-covering. However, any such jump in price is likely to be short-lived. Under the current circumstances, it would not be realistic to expect much from ACB stock.
Hexo (HEXO)
Source: Shutterstock
Ottawa, Canada-based Hexo first started trading, under its previous name Hydropothecary, also on TSXV in 2016 and then on TSX in 2017. In January 2019, it listed on the NYSE. The company was of one the high flyers in the first part of 2019. It was in the news when Hexo bought Newstrike in an all-stock deal valued at over $250 million. In April 2019, HEXO shares were flirting with $8.5. Those days are in rearview now as the price is around 70 cents.
In order to stay afloat, the group has had to resort to frequent equity issuance. The Newstrike purchase turned out to be a complete headache and financial loss as it became clear Newstrike had been operating without full legality. Hopes of expanding cultivation capacity also died. At this point, Hexo is still burning through cash and has no clear path to profitability.
Poor due diligence at the height of market optimism possibly led to the purchase of Newstrike. However, it also meant the beginning of the end for the share price. In 2020, HEXO stock has more than halved.
7 Hot Stocks to Buy With Mega-Cap Status
Hexo currently needs nothing short of a miracle at this point to make it a profitable company that would create shareholder value. We would not be buyers of the stock.
Medmen (MMNFF)
Source: Shutterstock
Culver City, California-based MedMen is a cannabis retailer with locations in six states. In October, the group released results for Q4 and fiscal year ended June 27, 2020. Revenue of $27.4 million was down 40% sequentially. Management blamed the pandemic for the decrease in sales. The company reported a loss of $23.3 million for Q4. A quarter ago, it had been $26.1 million.
Quarter after quarter, investors have been scratching their heads as they compare the revenue with the loss. Where does all the money go? To complicate things further, debt levels are concerning. As in the case of other cannabis companies, dilution of shares is the unpleasant reality for shareholders.
Spring for MedMen shares, which are down close to 80% this year, has ended. Sane investing discipline would require keeping away from MMNFF stock.
On the date of publication, Tezcan Gecgil did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Tezcan Gecgil has worked in investment management for over two decades in the U.S. and U.K. In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Her passion is for options trading based on technical analysis of fundamentally strong companies. She especially enjoys setting up weekly covered calls for income generation. She also publishes educational articles on long-term investing.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 7 Hot Stocks to Buy With Mega-Cap Status Here are three marijuana stocks that are likely to have a difficult time in coming quarters: Aurora Cannabis (NYSE:ACB) Hexo (NYSE:HEXO) MedMen (OTCMKTS:MMNFF) Marijuana Stocks: Aurora Cannabis (ACB) Source: Shutterstock Our first discussion centers around Edmonton, Canada-based Aurora Cannabis, which gets significant investor interest. Marijuana heavyweight ACB started trading first on the Toronto Venture Exchange (TSXV) in 2016. In a matter of days, ACB stock hit an all-time high of almost $120. | 7 Hot Stocks to Buy With Mega-Cap Status Here are three marijuana stocks that are likely to have a difficult time in coming quarters: Aurora Cannabis (NYSE:ACB) Hexo (NYSE:HEXO) MedMen (OTCMKTS:MMNFF) Marijuana Stocks: Aurora Cannabis (ACB) Source: Shutterstock Our first discussion centers around Edmonton, Canada-based Aurora Cannabis, which gets significant investor interest. Marijuana heavyweight ACB started trading first on the Toronto Venture Exchange (TSXV) in 2016. In a matter of days, ACB stock hit an all-time high of almost $120. | 7 Hot Stocks to Buy With Mega-Cap Status Here are three marijuana stocks that are likely to have a difficult time in coming quarters: Aurora Cannabis (NYSE:ACB) Hexo (NYSE:HEXO) MedMen (OTCMKTS:MMNFF) Marijuana Stocks: Aurora Cannabis (ACB) Source: Shutterstock Our first discussion centers around Edmonton, Canada-based Aurora Cannabis, which gets significant investor interest. Marijuana heavyweight ACB started trading first on the Toronto Venture Exchange (TSXV) in 2016. In a matter of days, ACB stock hit an all-time high of almost $120. | 7 Hot Stocks to Buy With Mega-Cap Status Here are three marijuana stocks that are likely to have a difficult time in coming quarters: Aurora Cannabis (NYSE:ACB) Hexo (NYSE:HEXO) MedMen (OTCMKTS:MMNFF) Marijuana Stocks: Aurora Cannabis (ACB) Source: Shutterstock Our first discussion centers around Edmonton, Canada-based Aurora Cannabis, which gets significant investor interest. Marijuana heavyweight ACB started trading first on the Toronto Venture Exchange (TSXV) in 2016. In a matter of days, ACB stock hit an all-time high of almost $120. |
37187.0 | 2020-11-02 00:00:00 UTC | Stock Markets Bounced Monday, but These Pot Stocks Really Smoked Higher | ACB | https://www.nasdaq.com/articles/stock-markets-bounced-monday-but-these-pot-stocks-really-smoked-higher-2020-11-02 | nan | nan | November got off to a positive start for the stock market, as major market benchmarks were able to post some gains on Monday following last week's big sell-off. Even with the uncertainties related to Tuesday's election and the worsening COVID-19 pandemic, investors were willing to focus on best-case scenarios and push stocks higher. The Dow Jones Industrial Average (DJINDICES: ^DJI) had the biggest gains, but the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) also finished with respectable moves higher.
Today's stock market
INDEX
PERCENTAGE CHANGE
POINT CHANGE
Dow
+1.60%
+423
S&P 500
+1.23%
+40
Nasdaq Composite
+0.42%
+46
Data source: Yahoo! Finance.
The area of the market that showed the most impressive strength was the cannabis industry, as marijuana stocks moved higher. Even without a clear catalyst to press higher, companies across the industry seem to be banking on a change in federal policy after Election Day.
Broad-based gains
Cannabis stocks across the sector performed well. Among the tried-and-true market favorites, Canadian cultivator Aurora Cannabis (NYSE: ACB) posted a 17% gain, matched by Tilray (NASDAQ: TLRY). Cronos Group (NASDAQ: CRON) followed with a 14% rise of its own, with Canopy Growth (NYSE: CGC) managing an 11% gain. Aphria (NASDAQ: APHA) picked up 12%.
Image source: Getty Images.
The companies that help facilitate marijuana production also saw some gains, albeit not as big. Cannabis-focused real estate investment trust Innovative Industrial Properties (NYSE: IIPR) was higher by 5% on the day. Scotts Miracle-Gro (NYSE: SMG) rose 3.5%.
Without company-specific news explaining any of the moves, it appears that investors are hoping for an election result that will bring about change in the way companies in the sector do business in the U.S. market. That might prove to be ambitious.
Challenges to cannabis companies
The problem with U.S. cannabis regulation is that it's a prime example of federal inconsistency. The U.S. government has thus far allowed states to legalize marijuana use, but pot is still listed as an illegal substance under federal law.
That introduces many obstacles for cannabis companies just to do business. Things that most companies take for granted, including cash management, banking services, insurance coverage, and interstate commerce, aren't necessarily available.
A change in federal government policy toward cannabis could finally resolve inconsistencies. Obviously, cannabis companies hope that the U.S. will decriminalize marijuana at the federal level, opening the door to more mainstream business operations.
Far from a sure thing
Yet those who think that the election will result in fundamental change to U.S. cannabis regulation might well prove to be sorely disappointed. With so many other policy priorities right now, including handling of the COVID-19 pandemic, it's hard to imagine that changing marijuana laws will be particularly high up on the list.
On the other hand, some innovative players in the cannabis sector are proving that you don't actually need federal legalization to thrive. For instance, Trulieve (OTC: TCNNF) has concentrated its efforts on the state of Florida, where medical marijuana is legal. By containing all of its operations within the Sunshine State and owning its own grow operations, dispensaries, and distribution assets, Trulieve has been able to make money even as most cannabis companies are struggling with huge losses.
Marijuana stocks have seen a lot of turbulence in recent years, and past hopes have been quashed repeatedly. Today's gains might not signal a lasting reversal for the companies that have grabbed most of the attention in the cannabis sector, but that doesn't mean that there won't be big winners in marijuana in the years to come.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Innovative Industrial Properties and Scotts Miracle-Gro. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the tried-and-true market favorites, Canadian cultivator Aurora Cannabis (NYSE: ACB) posted a 17% gain, matched by Tilray (NASDAQ: TLRY). The Dow Jones Industrial Average (DJINDICES: ^DJI) had the biggest gains, but the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) also finished with respectable moves higher. Without company-specific news explaining any of the moves, it appears that investors are hoping for an election result that will bring about change in the way companies in the sector do business in the U.S. market. | Among the tried-and-true market favorites, Canadian cultivator Aurora Cannabis (NYSE: ACB) posted a 17% gain, matched by Tilray (NASDAQ: TLRY). The area of the market that showed the most impressive strength was the cannabis industry, as marijuana stocks moved higher. Even without a clear catalyst to press higher, companies across the industry seem to be banking on a change in federal policy after Election Day. | Among the tried-and-true market favorites, Canadian cultivator Aurora Cannabis (NYSE: ACB) posted a 17% gain, matched by Tilray (NASDAQ: TLRY). The area of the market that showed the most impressive strength was the cannabis industry, as marijuana stocks moved higher. Today's gains might not signal a lasting reversal for the companies that have grabbed most of the attention in the cannabis sector, but that doesn't mean that there won't be big winners in marijuana in the years to come. | Among the tried-and-true market favorites, Canadian cultivator Aurora Cannabis (NYSE: ACB) posted a 17% gain, matched by Tilray (NASDAQ: TLRY). November got off to a positive start for the stock market, as major market benchmarks were able to post some gains on Monday following last week's big sell-off. Even without a clear catalyst to press higher, companies across the industry seem to be banking on a change in federal policy after Election Day. |
37188.0 | 2020-11-02 00:00:00 UTC | Hedge funds raise Canadian energy shorts ahead of U.S. election | ACB | https://www.nasdaq.com/articles/hedge-funds-raise-canadian-energy-shorts-ahead-of-u.s.-election-2020-11-02 | nan | nan | By Maiya Keidan
TORONTO, Nov 2 (Reuters) - Hedge funds upped bets against Canadian energy companies in the run-up to Tuesday's U.S. presidential election, regulatory filings reviewed by Reuters showed.
Market participants have speculated energy stocks could fall if Democratic Party candidate Joe Biden wins the race against incumbent President Donald Trump.
Biden has laid out a series of plans for the environment, which include a desire to "transition from the oil industry," words that ricocheted across Canada as the world's fourth-largest crude producer and major exporter to its neighbour south of the border.
"There is a sense that there is a greater chance of a Biden win," said Rob Romero, portfolio manager at Connective Capital.
"I do think Biden would promote a more interventionist policy into the economy, favoring renewable energy, so demand for Canadian energy could be challenged."
"For example, gas and liquids pipeline projects would receive less support, and enforcement of environmental regulation would be increased."
The number of short trades as a percentage of total traded volume for Imperial Oil Ltd IMO.TO rose to approximately 49% for the second half of October, from approximately 36.5% for the first half of October, regulatory filings showed.
Cenovus Energy Inc CVE.TO saw an increase to 39.3%, from 36.5%, over the same period, while the number rose in Canadian Natural Resources Ltd CNQ.TO to 26.2%, from 25.6%, according to the data.
That compared with 35.6% for Imperial Oil between Sept. 16 and Oct. 1 and 27.1% for Cenovus and 20.4% in Canadian Natural Resources over the same period.
The energy sub-index .SPTTEN has fallen 55% since Jan. 1.
Hedge funds typically engage in the practice of short-selling by borrowing a stock from an institutional investor, such as a pension fund, and selling it back at a lower price when shares fall, pocketing the difference.
A Biden win is expected to benefit the cannabis sector as vice president pick Kamala Harris has promised the Democratic party will decriminalize marijuana at the federal level. Some investors expect such a move to benefit U.S. weed companies more than the Canadian producers.
The number of short trades as a percentage of total traded volume rose in Canada’s No. 2 marijuana producer Aurora Cannabis Inc ACB.TO, Canopy Growth Corp WEED.TO and Aphria Inc APHA.TO in the run-up to the election.
Biden has also pledged to rescind the presidential permit for Keystone XL, a heavy oil pipeline TC Energy Corp TRP.TO has sought to build for more than a decade.
However, short trades in TC Energy most recently fell to 21.2%, from 36.6% last month.
(Reporting by Maiya Keidan, additional reporting by Jeff Lewis Editing by Marguerita Choy)
((Maiya.Keidan@thomsonreuters.com; 44 207 542 1594; Reuters Messaging: maiya.keidan.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 2 marijuana producer Aurora Cannabis Inc ACB.TO, Canopy Growth Corp WEED.TO and Aphria Inc APHA.TO in the run-up to the election. Market participants have speculated energy stocks could fall if Democratic Party candidate Joe Biden wins the race against incumbent President Donald Trump. Biden has laid out a series of plans for the environment, which include a desire to "transition from the oil industry," words that ricocheted across Canada as the world's fourth-largest crude producer and major exporter to its neighbour south of the border. | 2 marijuana producer Aurora Cannabis Inc ACB.TO, Canopy Growth Corp WEED.TO and Aphria Inc APHA.TO in the run-up to the election. By Maiya Keidan TORONTO, Nov 2 (Reuters) - Hedge funds upped bets against Canadian energy companies in the run-up to Tuesday's U.S. presidential election, regulatory filings reviewed by Reuters showed. The number of short trades as a percentage of total traded volume for Imperial Oil Ltd IMO.TO rose to approximately 49% for the second half of October, from approximately 36.5% for the first half of October, regulatory filings showed. | 2 marijuana producer Aurora Cannabis Inc ACB.TO, Canopy Growth Corp WEED.TO and Aphria Inc APHA.TO in the run-up to the election. By Maiya Keidan TORONTO, Nov 2 (Reuters) - Hedge funds upped bets against Canadian energy companies in the run-up to Tuesday's U.S. presidential election, regulatory filings reviewed by Reuters showed. "I do think Biden would promote a more interventionist policy into the economy, favoring renewable energy, so demand for Canadian energy could be challenged." | 2 marijuana producer Aurora Cannabis Inc ACB.TO, Canopy Growth Corp WEED.TO and Aphria Inc APHA.TO in the run-up to the election. By Maiya Keidan TORONTO, Nov 2 (Reuters) - Hedge funds upped bets against Canadian energy companies in the run-up to Tuesday's U.S. presidential election, regulatory filings reviewed by Reuters showed. The number of short trades as a percentage of total traded volume for Imperial Oil Ltd IMO.TO rose to approximately 49% for the second half of October, from approximately 36.5% for the first half of October, regulatory filings showed. |
37189.0 | 2020-11-01 00:00:00 UTC | The Best Strategy for Investing in Cannabis Stocks | ACB | https://www.nasdaq.com/articles/the-best-strategy-for-investing-in-cannabis-stocks-2020-11-01 | nan | nan | Investing in marijuana stocks can be a harrowing experience. Stocks such as Aurora Cannabis (NYSE: ACB) have performed dismally, but others such as Curaleaf Holdings (OTC: CURLF) have soared. What's the best strategy for nervous investors? That's the question that Corinne Cardina, The Motley Fool's Bureau Chief of Healthcare and Cannabis, addressed with longtime Motley Fool contributor Keith Speights in this Fool Live video.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Corinne Cardina: Do you have any tips on strategies for cannabis investing that someone might consider today? Any kind of guidance or things that you think are compelling?
Keith Speights: I think maybe the best wisdom on that for investors is to go back to that 1970s movie, All The President's Men. There was a famous line in that movie, "Follow the money." That's probably the best strategy that investors can adopt. "Follow the money."
For example, when you look at the market size and the potential, the US is where the market is. Canada has taken the limelight for several years, but all along, it's been the US that was the big opportunity.
There are US stocks that are doing much better than their Canadian counterparts. So I would definitely say, "Take a look at where the real market potential is and look at companies that are going to be in the best position to take advantage of that market."
The other thing is back in the gold mining days, there was an old saying that it was the people who sold the picks and shovels who made more money than the miners themselves. I think there's some truth to that even today in the cannabis industry.
Some of these ancillary stocks could be better picks right now for investors than the pure-play cannabis companies. That's not always the case, but I think there are some real opportunities there.
Corinne Cardina has no position in any of the stocks mentioned. Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks such as Aurora Cannabis (NYSE: ACB) have performed dismally, but others such as Curaleaf Holdings (OTC: CURLF) have soared. Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks. The other thing is back in the gold mining days, there was an old saying that it was the people who sold the picks and shovels who made more money than the miners themselves. | Stocks such as Aurora Cannabis (NYSE: ACB) have performed dismally, but others such as Curaleaf Holdings (OTC: CURLF) have soared. That's the question that Corinne Cardina, The Motley Fool's Bureau Chief of Healthcare and Cannabis, addressed with longtime Motley Fool contributor Keith Speights in this Fool Live video. Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. | Stocks such as Aurora Cannabis (NYSE: ACB) have performed dismally, but others such as Curaleaf Holdings (OTC: CURLF) have soared. That's the question that Corinne Cardina, The Motley Fool's Bureau Chief of Healthcare and Cannabis, addressed with longtime Motley Fool contributor Keith Speights in this Fool Live video. Here's The Marijuana Stock You've Been Waiting For A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. | Stocks such as Aurora Cannabis (NYSE: ACB) have performed dismally, but others such as Curaleaf Holdings (OTC: CURLF) have soared. Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks. Learn more Corinne Cardina: Do you have any tips on strategies for cannabis investing that someone might consider today? |
37190.0 | 2020-10-31 00:00:00 UTC | 1 Big Question to Ask Yourself Before Buying Aurora Cannabis | ACB | https://www.nasdaq.com/articles/1-big-question-to-ask-yourself-before-buying-aurora-cannabis-2020-10-31 | nan | nan | Let's call it like it is. Aurora Cannabis (NYSE: ACB) is an underperforming stock, with its shares down more than 90% over the last 12 months. That's not only worse than the S&P 500, up over 12% during the same period, but it's not even close to the Horizons Marijuana Life Sciences Index ETF, which includes many of Aurora's peers and has fallen by 46%.
The Canadian cannabis company is an intriguing investment because on one side of the coin, its recovery seems inevitable given its low price. On the flip side, the company has continually disappointed investors through share dilution and consistent writedowns. If these trends continue, its shares could crash to the ground. There's certainly significant risk involved with investing in Aurora, and one important question investors need to ask themselves before adding the pot stock to their portfolios is the following:
Is the risk worth the potential reward?
There's no doubt that if Aurora turns things around in the next 12 months, grows its sales, and achieves a positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), then the stock could reverse its current downward trajectory. (Aurora's current target for reaching a positive EBITDA is the second quarter of fiscal 2021.) Considering how much the stock has already fallen, it's not unrealistic to hope it doubles or triples in value during a turnaround.
But the problem is that there's no guarantee this will happen. The company's track record for meeting expectations simply isn't good. In September 2019, the company infamously released fourth-quarter results that fell short of the projections it made only a month earlier.
Image source: Getty Images.
Since then, the company has undergone two changes in leadership. Founder and former CEO Terry Booth resigned in February, and Michael Singer, who ended up taking over on an interim basis, stayed on until September when the company announced Miguel Martin would be the pot producer's new CEO.
Since Martin's taken over, billionaire investor Nelson Peltz resigned from his role as an advisor to the company. Peltz joined Aurora in March 2019, and many investors were hopeful he'd find a partner for the company, perhaps not unlike the relationship Canopy Growth (NYSE: CGC) has with alcohol giant Constellation Brands (NYSE: STZ). However, nothing significant materialized during Peltz's time with Aurora.
On the Alberta-based company's most recentearnings call Martin also said the company would be focusing on premium brands, including San Raf and Whistler, which could help it improve its financials. Aurora desperately needs to improve its bottom line; the company's coming off a dreadful fiscal 2020, incurring a loss of 3.3 billion Canadian dollars. Although much of that was due to impairment charges, profits have been elusive for the cannabis company, with Aurora reporting a loss in six of its past eight quarterly results. Any profits it does achieve are typically a result of non-operating items.
Prior to Martin, under Singer, the company was already in cost-cutting mode, slashing expenses and laying off staff. In June, the company also announced it was shutting down operations at five locations in Canada.
Do these changes make Aurora a safer buy?
It's difficult to assess whether the cuts and changes Aurora's made in recent months will be enough to fix what's wrong with the business. Even if Aurora slashes expenses, it may not be enough to turn a profit at its current run rate. The company still needs to worry about growing its sales, which isn't normally an easy or cheap task. In the fourth quarter, its net revenue of CA$72.1 million for the period ending June 30 declined 5% from the third quarter.
That decline in revenue happened when the industry's been doing well. According to Statistics Canada, sales at cannabis stores totaled CA$244.9 million in August. That's up 59% from January when revenue totaled just CA$154.1 million. August was the fourth month in a row that sales were on the rise.
The challenge for Aurora will be growing sales, especially of its premium brands, at a time when many cannabis companies are offering value brands as they try to be competitive and lure customers away from the black market.
Should you invest in Aurora today?
Aurora is a $3.80 stock that could go to either $0 next year or to over $10. If you're prepared to risk losing all or most of your investment in the pot stock, then it may be worth the gamble, but that's what it would be at this point -- a gamble. Until the company can demonstrate some positive results and prove that its strategy is paying off, investors will be taking on significant risk and putting their hopes on the new CEO's vision. But to deploy a change in strategy will likely require an influx of cash from the equity markets, which leads to another problem: share dilution.
Share dilution happens when the company issues stock which decreases an investors' ownership and sends the stock price down as there are more shares hitting the markets. As of the end of June, Aurora reported 115.2 million shares outstanding, and that's after the company's 1-for-12 reverse split, otherwise the tally would be over 1.38 billion. That's up from a year ago when Aurora had just over 1 billion shares outstanding. And there's more dilution to come as Aurora still needs more cash, filing a new shelf prospectus in October that would allow it to issue up to $500 million worth of shares and other equity instruments.
That's why even if the company performs well, it may not be enough to keep its share price from falling further down. Aurora's a dangerous stock to invest in and unless you have a higher risk tolerance, you're better off steering clear of it. As tantalizing as the potential returns may appear, there are better, safer growth stocks you can invest in than Aurora.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
David Jagielski has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Constellation Brands. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) is an underperforming stock, with its shares down more than 90% over the last 12 months. There's no doubt that if Aurora turns things around in the next 12 months, grows its sales, and achieves a positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), then the stock could reverse its current downward trajectory. Aurora desperately needs to improve its bottom line; the company's coming off a dreadful fiscal 2020, incurring a loss of 3.3 billion Canadian dollars. | Aurora Cannabis (NYSE: ACB) is an underperforming stock, with its shares down more than 90% over the last 12 months. In the fourth quarter, its net revenue of CA$72.1 million for the period ending June 30 declined 5% from the third quarter. According to Statistics Canada, sales at cannabis stores totaled CA$244.9 million in August. | Aurora Cannabis (NYSE: ACB) is an underperforming stock, with its shares down more than 90% over the last 12 months. The challenge for Aurora will be growing sales, especially of its premium brands, at a time when many cannabis companies are offering value brands as they try to be competitive and lure customers away from the black market. Share dilution happens when the company issues stock which decreases an investors' ownership and sends the stock price down as there are more shares hitting the markets. | Aurora Cannabis (NYSE: ACB) is an underperforming stock, with its shares down more than 90% over the last 12 months. In the fourth quarter, its net revenue of CA$72.1 million for the period ending June 30 declined 5% from the third quarter. Aurora is a $3.80 stock that could go to either $0 next year or to over $10. |
37191.0 | 2020-10-30 00:00:00 UTC | Why Aurora Cannabis Stock Slid 5% This Morning | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-stock-slid-5-this-morning-2020-10-30 | nan | nan | What happened
Another day, another decline for Aurora Cannabis (NYSE: ACB) stock.
Earlier this week, we discussed Aurora Cannabis's decision to try to raise another $500 million to keep its business solvent by selling one or more batches of "common shares, preferred shares, warrants, subscription receipts and debt securities" over the next 25 months -- and how investors reacted to this news by selling off the stock.
Yesterday, Aurora made its latest attempt to stop the bleeding, reassuring investors that it remains in "compliance" with its debt covenants and is on course to land toward the high end of its previously announced $60 million to $64 million revenue guidance range for Q1 2021, reports TheFly.com. Furthermore, said management, it's going to land near the high of its 46% to 50% range for "adjusted gross margin before fair value adjustments on cannabis net revenue," and will spend not much more than $40 million on selling, general, and administrative expenses "excluding certain one-time contract and employee termination costs."
Image source: Getty Images.
So what
Investors responded to these assurances by selling off Aurora Cannabis stock by more than 5% in early trading Friday, although the stock has since retraced to about a 2% loss as of 2:10 p.m. EDT.
Why the unexpected lack of enthusiasm? I can't help but think that, after being disappointed time and again by Aurora, investors are looking askance at all the wiggle room Aurora gave itself with phrases like "before fair value adjustments on cannabis net revenue" and "excluding certain one-time contract and employee termination costs."
Now what
On the one hand, Aurora Cannabis still ended up promising investors that it will produce "positive adjusted EBITDA in the second quarter of fiscal 2021."
On the other hand, that's not saying anything good about the next quarter to be reported -- i.e. the first quarter of fiscal 2021 -- the one that Aurora will be reporting next month, and the one to which all the wiggle words above referred.
That's the quarter investors are worried about right now, and I can't say I blame them.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened Another day, another decline for Aurora Cannabis (NYSE: ACB) stock. Earlier this week, we discussed Aurora Cannabis's decision to try to raise another $500 million to keep its business solvent by selling one or more batches of "common shares, preferred shares, warrants, subscription receipts and debt securities" over the next 25 months -- and how investors reacted to this news by selling off the stock. Now what On the one hand, Aurora Cannabis still ended up promising investors that it will produce "positive adjusted EBITDA in the second quarter of fiscal 2021." | What happened Another day, another decline for Aurora Cannabis (NYSE: ACB) stock. Furthermore, said management, it's going to land near the high of its 46% to 50% range for "adjusted gross margin before fair value adjustments on cannabis net revenue," and will spend not much more than $40 million on selling, general, and administrative expenses "excluding certain one-time contract and employee termination costs." I can't help but think that, after being disappointed time and again by Aurora, investors are looking askance at all the wiggle room Aurora gave itself with phrases like "before fair value adjustments on cannabis net revenue" and "excluding certain one-time contract and employee termination costs." | What happened Another day, another decline for Aurora Cannabis (NYSE: ACB) stock. Earlier this week, we discussed Aurora Cannabis's decision to try to raise another $500 million to keep its business solvent by selling one or more batches of "common shares, preferred shares, warrants, subscription receipts and debt securities" over the next 25 months -- and how investors reacted to this news by selling off the stock. So what Investors responded to these assurances by selling off Aurora Cannabis stock by more than 5% in early trading Friday, although the stock has since retraced to about a 2% loss as of 2:10 p.m. EDT. | What happened Another day, another decline for Aurora Cannabis (NYSE: ACB) stock. I can't help but think that, after being disappointed time and again by Aurora, investors are looking askance at all the wiggle room Aurora gave itself with phrases like "before fair value adjustments on cannabis net revenue" and "excluding certain one-time contract and employee termination costs." 10 stocks we like better than Aurora Cannabis Inc. |
37192.0 | 2020-10-30 00:00:00 UTC | Why Is Aurora Cannabis the Most Popular Pot Stock on Robinhood? | ACB | https://www.nasdaq.com/articles/why-is-aurora-cannabis-the-most-popular-pot-stock-on-robinhood-2020-10-30 | nan | nan | Pot is hot on Robinhood. Of the 100 most popular stocks on the trading platform, five of them are marijuana stocks. That's not particularly surprising considering the growth potential for the global cannabis industry.
What might be surprising, though, is which pot stock is the favorite for Robinhood investors. Aurora Cannabis (NYSE: ACB) currently ranks No. 11 among Robinhood's 100 most popular stocks, beating all of its cannabis rivals. Why Aurora? It's complicated.
Image source: Getty Images.
Popular but pitiful
Aurora Cannabis might be popular, but that's about all the company has going for it these days. Just look at the stock's pitiful performance.
So far this year, Aurora's shares have plunged more than 80%. The marijuana stock is a whopping 97% off the high it set in early 2018.
ACB data by YCharts
Part of the problem is dilution. Over the last three years, Aurora's outstanding shares count has soared 238%. However, dilution is really just a symptom of Aurora's real problem -- it continues to lose a boatload of money.
There are some straightforward reasons for the Canadian cannabis producer's lack of profitability. Aurora faced and continues to face challenges in the Canadian market that aren't under its control, notably including a limited retail infrastructure and the ongoing COVID-19 pandemic.
However, the company also spent money like it was going out of style. It gobbled up smaller companies left and right. It aggressively ramped up production capacity on a scale that dwarfed most of its rivals. Management also made some boneheaded mistakes along the way, such as failing to secure the necessary permit to market medical cannabis in Germany, a blunder that suspended Aurora's sales in the key European market for a while.
Most likely attractions
Despite all this, Aurora is still more popular among Robinhood investors than any other marijuana stock. We can't know exactly what's inside these investors' minds, but here are some guesses that could explain Aurora's popularity.
First, Aurora has been widely followed in the U.S. for a long time. In 2018, rumors circulated that Coca-Cola was in discussions with the company about teaming up to develop cannabis-infused beverages. That partnership never materialized, but the publicity Aurora received was tremendous.
There could also be psychological factors at work. Confirmation bias causes individuals to look at information only in a way that confirms their existing beliefs. The sunk-cost effect manifests when people stick with an investment that has lost money because they don't want to admit failure. Some Robinhood investors who bought Aurora when the stock was performing well could be reluctant to let go.
It's also likely that some investors simply think Aurora now has no place to go but up. They could look at Aurora's valuation, particularly in comparison to other leaders in the Canadian cannabis market such as Canopy Growth, and see the potential for a big rebound.
Some could eagerly await the prospects of some form of marijuana legalization at the federal level in the U.S. The odds of this happening appear better than ever, with polls showing that Democrats have a decent shot at regaining control of the U.S. Senate.
Follow your mother's advice
All of these are possible reasons why Aurora Cannabis remains so popular among Robinhood investors. Are they good reasons to buy the stock? I wouldn't go that far.
If your mother is like mine, at some point when you were growing up, she said something along the lines of, "Don't do something just because others are doing it." She might have even thrown in a reference to jumping off a cliff. Following your mother's advice is usually wise, and I suspect this particular motherly advice applies to Aurora Cannabis.
It's possible that Aurora could bounce back. The company could make significant progress toward achieving profitability. The U.S. cannabis market might open up to Canadian producers. But is Aurora Cannabis the best place to park your money right now? No. It's not even the best marijuana stock to buy right now, no matter how popular it might be with some investors.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aurora Cannabis (NYSE: ACB) currently ranks No. ACB data by YCharts Part of the problem is dilution. The sunk-cost effect manifests when people stick with an investment that has lost money because they don't want to admit failure. | Aurora Cannabis (NYSE: ACB) currently ranks No. ACB data by YCharts Part of the problem is dilution. Popular but pitiful Aurora Cannabis might be popular, but that's about all the company has going for it these days. | Aurora Cannabis (NYSE: ACB) currently ranks No. ACB data by YCharts Part of the problem is dilution. Popular but pitiful Aurora Cannabis might be popular, but that's about all the company has going for it these days. | Aurora Cannabis (NYSE: ACB) currently ranks No. ACB data by YCharts Part of the problem is dilution. Of the 100 most popular stocks on the trading platform, five of them are marijuana stocks. |
37193.0 | 2020-10-29 00:00:00 UTC | CANADA STOCKS - TSX rises 0.54% to 15,670.70 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.54-to-15670.70-2020-10-29 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.54 percent to 15,670.70
* Leading the index were Alamos Gold Inc , up 12.5%, Aurora Cannabis Inc ACB.TO, up 7.1%, and FirstService Corp FSV.TO, higher by 6%.
* Lagging shares were OceanaGold Corp OGC.TO, down 10.3%, Shopify Inc SHOP.TO, down 5.0%, and Element Fleet Management Corp EFN.TO, lower by 4.9%.
* On the TSX 172 issues rose and 50 fell as a 3.4-to-1 ratio favored advancers. There was 1 new high and 1 new low, with total volume of 205.4 million shares.
* The most heavily traded shares by volume were Husky Energy Inc HSE.TO, Cenovus Energy Inc CVE.TO and Suncor Energy Inc SU.TO.
* The TSX's energy group .SPTTEN fell 0.08 points, or 0.1%, while the financials sector .SPTTFS climbed 3.36 points, or 1.3%.
* West Texas Intermediate crude futures CLc1 fell 3.42%, or $1.28, to $36.11 a barrel. Brent crude LCOc1 fell 4.01%, or $1.57, to $37.55 O/R
* The TSX is off 8.2% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The Toronto Stock Exchange's TSX rises 0.54 percent to 15,670.70 * Leading the index were Alamos Gold Inc , up 12.5%, Aurora Cannabis Inc ACB.TO, up 7.1%, and FirstService Corp FSV.TO, higher by 6%. * On the TSX 172 issues rose and 50 fell as a 3.4-to-1 ratio favored advancers. * West Texas Intermediate crude futures CLc1 fell 3.42%, or $1.28, to $36.11 a barrel. | * The Toronto Stock Exchange's TSX rises 0.54 percent to 15,670.70 * Leading the index were Alamos Gold Inc , up 12.5%, Aurora Cannabis Inc ACB.TO, up 7.1%, and FirstService Corp FSV.TO, higher by 6%. * The most heavily traded shares by volume were Husky Energy Inc HSE.TO, Cenovus Energy Inc CVE.TO and Suncor Energy Inc SU.TO. * The TSX's energy group .SPTTEN fell 0.08 points, or 0.1%, while the financials sector .SPTTFS climbed 3.36 points, or 1.3%. | * The Toronto Stock Exchange's TSX rises 0.54 percent to 15,670.70 * Leading the index were Alamos Gold Inc , up 12.5%, Aurora Cannabis Inc ACB.TO, up 7.1%, and FirstService Corp FSV.TO, higher by 6%. * The most heavily traded shares by volume were Husky Energy Inc HSE.TO, Cenovus Energy Inc CVE.TO and Suncor Energy Inc SU.TO. * The TSX's energy group .SPTTEN fell 0.08 points, or 0.1%, while the financials sector .SPTTFS climbed 3.36 points, or 1.3%. | * The Toronto Stock Exchange's TSX rises 0.54 percent to 15,670.70 * Leading the index were Alamos Gold Inc , up 12.5%, Aurora Cannabis Inc ACB.TO, up 7.1%, and FirstService Corp FSV.TO, higher by 6%. * Lagging shares were OceanaGold Corp OGC.TO, down 10.3%, Shopify Inc SHOP.TO, down 5.0%, and Element Fleet Management Corp EFN.TO, lower by 4.9%. * The most heavily traded shares by volume were Husky Energy Inc HSE.TO, Cenovus Energy Inc CVE.TO and Suncor Energy Inc SU.TO. |
37194.0 | 2020-10-29 00:00:00 UTC | Aurora Cannabis: The 11,800% Gain No One Saw Coming | ACB | https://www.nasdaq.com/articles/aurora-cannabis%3A-the-11800-gain-no-one-saw-coming-2020-10-29 | nan | nan | Over the next decade, marijuana is projected to be one of the fastest-growing industries. We already know that tens of billions of dollars in sales are currently conducted in the global black market. If legalization slowly but surely moves these consumers to legal channels, cannabis companies shouldn't have any trouble delivering the green to investors.
But as we've learned over the past few years, not all marijuana stocks are built to thrive as cannabis goes global. Canadian licensed producer Aurora Cannabis (NYSE: ACB) is a perfect example.
Image source: Getty Images.
Aurora Cannabis has shattered shareholders' dreams
Aurora Cannabis is an absolute favorite among millennial investors; prior to its reverse split in May, it was the most held stock on investing platform Robinhood. The bullishness surrounding Aurora can be summed up as follows:
Top-tier production: Aurora had 15 cultivation facilities that, if fully developed, could have yielded more than 650,000 kilos of weed annually. The ability to produce so much pot made it a likely candidate for long-term domestic and international supply deals. It was also widely believed that Aurora's large-scale output would yield some of the lowest growing costs per gram in the industry.
Unparalleled international access: Aside from being a capacity hound, Aurora had a production, export, partnership, or research presence in 24 countries outside of Canada. This includes the U.S., which Aurora entered through its purchase of cannabidiol (CBD)-based company Reliva.
Partnership appeal: In March 2019, Aurora hired billionaire activist investor Nelson Peltz as its strategic advisor. Peltz's focus on consumer packaged food and beverage companies made him a logical liaison to broker an equity investment or partnership.
But here's where things stand today:
Production more than halved: Over roughly the past year, Aurora Cannabis has shuttered five of its smaller cultivation facilities, sold its 1-million-square-foot Exeter greenhouse, and halted construction on two of its largest projects. Peak annual output is now probably in the 200,000 kilos to 250,000 kilos range.
International sales are virtually nonexistent: Despite Aurora's expected reliance on foreign markets to offset supply concerns in Canada, international sales have struggled to significantly surpass $4 million Canadian a quarter.
Peltz resigns: After roughly a year and a half, Peltz recently stepped down. He failed to broker any significant or lasting deals for Aurora.
Image source: Getty Images.
The 11,800% gain shareholders aren't thrilled about
Aurora Cannabis' problems continue to mount.
Earlier this week, the company announced that it had fully completed a $250 million (that's U.S.) at-the-market (ATM) offering first announced in April. This $250 million ATM followed a completed $400 million ATM offering. After effectively selling its common stock at whatever the current price was for Aurora's shares, the company ended Oct. 26 with $272 million in cash and $11 million in untapped revolving credit.
More importantly, as of Oct. 26, Aurora's share count had ballooned to 160,656,048 from approximately 115.2 million on June 30, 2020. That might not seem like a huge increase, but let me back this time frame out a bit. At the end of the company's fiscal year on June 30, 2014, it had 16.15 million shares outstanding. That works out to 1,345,833 shares after accounting for its 1-for-12 reverse split enacted in May 2020. In a little over six years, Aurora's outstanding share count has ballooned by more than 11,800%. I've previously commented that "Aurora is a serial diluter of its shareholders," and I wasn't exaggerating.
Having completed its $250 million ATM offering, Aurora announced a new ATM program that'll allow the company to sell up to $500 million in shares over the next 25 months. For context, Aurora Cannabis ended Oct. 27 with a market cap of about $642 million, based on its updated outstanding share count. Another $500 million in stock issuances could balloon Aurora's outstanding share count by another 44%. If that happens, it'll constitute outstanding share inflation of greater than 21,000% from where it began on June 30, 2014.
Aurora's need to quickly usher in another round of ATM offerings suggests that the company's ongoing cash burn would quickly gobble up the remaining $272 million in cash and cash equivalents. In other words, it's still nowhere near adjusted profitability.
Image source: Getty Images.
Aurora Cannabis has shown a complete disregard for its shareholders
If Aurora Cannabis has taught investors anything, it's that cheap stocks are usually cheap for a reason. We've also learned that not all stocks in a high-growth industry can be winners.
Aside from continuing to dilute its shareholders at an extraordinary pace, poor decisions by management have also proved how little they care about their investors.
In fiscal 2020, Aurora Cannabis reported a CA$3.3 billion net loss, which was magnified by more than CA$2.8 billion in writedowns and impairment charges. While some of these charges were tied to the closure of the company's smaller cultivation facilities and to layoffs, most relate to the company's grossly overpriced acquisitions.
For example, Aurora paid a jaw-dropping CA$2.64 billion in an all-share deal to acquire licensed producer MedReleaf in 2018. The expectation when this deal closed was that MedReleaf would support 140,000 kilos of annual marijuana production. Ultimately, Aurora sold the Exeter facility (which was never retrofit for pot production) for a meager CA$8.6 million. It was expected to yield 105,000 kilos of the 140,000-kilo estimate. The smaller Markham facility (7,000 kilos a year) also got the ax. Aurora effectively paid a net of CA$2.63 billion for 28,000 kilos of annual output and a handful of proprietary brands. Decisions like this have doomed the company's shareholders.
Management also received hefty pay raises in 2020 for meeting some of the company's key performance indicators for the year. That's right -- as Aurora's future remains in doubt and the company continues to sell its own stock at the detriment of shareholders to raise capital, it's raising its executives' pay.
What a company! What a mess.
Here's The Marijuana Stock You've Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Learn more
Sean Williams has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Canadian licensed producer Aurora Cannabis (NYSE: ACB) is a perfect example. Peltz's focus on consumer packaged food and beverage companies made him a logical liaison to broker an equity investment or partnership. But here's where things stand today: Production more than halved: Over roughly the past year, Aurora Cannabis has shuttered five of its smaller cultivation facilities, sold its 1-million-square-foot Exeter greenhouse, and halted construction on two of its largest projects. | Canadian licensed producer Aurora Cannabis (NYSE: ACB) is a perfect example. In a little over six years, Aurora's outstanding share count has ballooned by more than 11,800%. Aurora effectively paid a net of CA$2.63 billion for 28,000 kilos of annual output and a handful of proprietary brands. | Canadian licensed producer Aurora Cannabis (NYSE: ACB) is a perfect example. Aurora Cannabis has shattered shareholders' dreams Aurora Cannabis is an absolute favorite among millennial investors; prior to its reverse split in May, it was the most held stock on investing platform Robinhood. Having completed its $250 million ATM offering, Aurora announced a new ATM program that'll allow the company to sell up to $500 million in shares over the next 25 months. | Canadian licensed producer Aurora Cannabis (NYSE: ACB) is a perfect example. The 11,800% gain shareholders aren't thrilled about Aurora Cannabis' problems continue to mount. What a company! |
37195.0 | 2020-10-28 00:00:00 UTC | Aurora Cannabis (ACB): Prepare for More Dilution Yet Again | ACB | https://www.nasdaq.com/articles/aurora-cannabis-acb%3A-prepare-for-more-dilution-yet-again-2020-10-28 | nan | nan | More dilution could be on the way for beleaguered shareholders of Aurora Cannabis (ACB). The company gave note of a preliminary prospectus, which over the next 25 months authorizes the Canadian cannabis player to issue up to US$500 million in securities. The prospectus also noted exhaustion of the company's ATM, through which it has raised gross proceeds of US$214.7 million since its fiscal fourth quarter.
Aurora might have all sorts of issues, but it is an expert at issuing shares. Over the past 6 years, the share count has increased by almost 9,250%.
Jefferies analyst Owen Bennett is not surprised by the latest attempt to pad the coffers, having already argued post Aurora’s September business update and then again following the company’s F4Q results, that in order to support near-term operations and debt obligations, Aurora would exhaust its ATM and require further raises.
However, the analyst is taken back by one aspect of the raise.
“What is surprising is the size of the possible raise and the dilution that comes with this. Exhaustion of the ATM would have already represented c26% dilution, while full use of the US$500mn would be an additional c50% based on the current share price,” the analyst noted.
That said, Bennett does count several positives the unwelcome surprise offers.
“First,” he says, “The news is now out of the way, and by announcing such a large number there is unlikely to be any more surprises.”
Secondly, while Aurora is expected to turn EBITDA positive this year, Bennett notes that without an additional raise it was “at risk of under investing in the business.” The money should go toward supporting its top line in Canada, where Aurora still “has a very strong brand and product portfolio,” while its European and, particularly, German investments could get an injection, too.
Lastly, and most importantly, with potential federal legislation looming across the border, the money could be well spent in the U.S.
“It needs to establish a strong CBD business (and US infrastructure) ahead of this, and then be prepared to invest in cannabis if any laws change,” Bennett opined. “With most institutional money likely to be focused on US names should we see legalisation, if Canadian names can't argue a strong case for competitiveness, they may struggle to catch a bid.”
Overall, there’s no change to Bennett’s rating which stays a Hold, while the C$6.90 (US$5.24) price target suggests possible upside of 24%. (To watch Bennett’s track record, click here)
Barring 1 Buy rating, all 13 other analysts to have posted an Aurora review over the past 3 months are on the same page as Bennett and also say Hold. However, they might as well have said Buy as the C$9.30 (US$6.99) average price target implies upside of 83% over the next 12 months. (See ACB stock analysis on TipRanks)
To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | More dilution could be on the way for beleaguered shareholders of Aurora Cannabis (ACB). (See ACB stock analysis on TipRanks) To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. The company gave note of a preliminary prospectus, which over the next 25 months authorizes the Canadian cannabis player to issue up to US$500 million in securities. | More dilution could be on the way for beleaguered shareholders of Aurora Cannabis (ACB). (See ACB stock analysis on TipRanks) To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Over the past 6 years, the share count has increased by almost 9,250%. | More dilution could be on the way for beleaguered shareholders of Aurora Cannabis (ACB). (See ACB stock analysis on TipRanks) To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Jefferies analyst Owen Bennett is not surprised by the latest attempt to pad the coffers, having already argued post Aurora’s September business update and then again following the company’s F4Q results, that in order to support near-term operations and debt obligations, Aurora would exhaust its ATM and require further raises. | More dilution could be on the way for beleaguered shareholders of Aurora Cannabis (ACB). (See ACB stock analysis on TipRanks) To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. The prospectus also noted exhaustion of the company's ATM, through which it has raised gross proceeds of US$214.7 million since its fiscal fourth quarter. |
37196.0 | 2020-10-28 00:00:00 UTC | Why Aurora Cannabis, Aphria, and Charlotte's Web Stocks Are Wilting Wednesday | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-aphria-and-charlottes-web-stocks-are-wilting-wednesday-2020-10-28 | nan | nan | What happened
The stock market's meltdown continued Wednesday morning, with the S&P 500 falling close to 3%. And marijuana stocks such as Aurora Cannabis (NYSE: ACB), Aphria (NASDAQ: APHA), and Charlotte's Web (OTC: CWBHF) got hit hard along with the rest of the market, falling 5% and more early.
That's the bad news. The good news is that as the morning wore on, cannabis shares appeared to be recovering somewhat. As of midday trading, Aphria shares shed 3.5%, and Charlotte's Web was down 5% -- but Aurora Cannabis shares recovered to only a 2.6% loss, which is actually a somewhat smaller-than-average loss relative to the market as a whole.
Image source: Getty Images.
So what
This is surprising because, of the three marijuana stocks named, Aurora Cannabis is actually the only one that has specific bad news attached to it today.
Yesterday, as you'll recall, Aurora Cannabis shares tanked after the company revealed that it has been burning through cash faster than anticipated -- and will need to raise a further $500 million over the next 25 months. One analyst downgraded the stock in response to the revelation, and this morning, a second analyst, investment bank Stifel Nicolaus, has decided to cut its target price on Aurora shares -- by 66%, to just 3.60 Canadian dollars, or about $2.70.
Now what
Specifically, Stifel warns that there "will be no investor interest or enthusiasm" in Aurora Cannabis stock for the foreseeable future, reports TheFly.com today. Because in addition to announcing some pretty significant stock dilution, the stock is likely to fall short on sales estimates in fiscal Q1 (Stifel projects CA$54 million, down from CA$62 million previously) and report a CA$13 million EBITDA loss to boot.
In short, the fundamentals of Aurora stock are looking increasingly lousy, and Stifel can't recommend buying the shares until they improve. Of course, you could say the same thing about Aphria and Charlotte's Web as well -- they're not currently profitable, either.
And in fact, with all three stocks down today on just one marijuana stock's bad news, it appears that investors are saying the same things about them all.
10 stocks we like better than Aurora Cannabis Inc.
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Aurora Cannabis Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends Charlotte's Web. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | And marijuana stocks such as Aurora Cannabis (NYSE: ACB), Aphria (NASDAQ: APHA), and Charlotte's Web (OTC: CWBHF) got hit hard along with the rest of the market, falling 5% and more early. Yesterday, as you'll recall, Aurora Cannabis shares tanked after the company revealed that it has been burning through cash faster than anticipated -- and will need to raise a further $500 million over the next 25 months. In short, the fundamentals of Aurora stock are looking increasingly lousy, and Stifel can't recommend buying the shares until they improve. | And marijuana stocks such as Aurora Cannabis (NYSE: ACB), Aphria (NASDAQ: APHA), and Charlotte's Web (OTC: CWBHF) got hit hard along with the rest of the market, falling 5% and more early. Because in addition to announcing some pretty significant stock dilution, the stock is likely to fall short on sales estimates in fiscal Q1 (Stifel projects CA$54 million, down from CA$62 million previously) and report a CA$13 million EBITDA loss to boot. In short, the fundamentals of Aurora stock are looking increasingly lousy, and Stifel can't recommend buying the shares until they improve. | And marijuana stocks such as Aurora Cannabis (NYSE: ACB), Aphria (NASDAQ: APHA), and Charlotte's Web (OTC: CWBHF) got hit hard along with the rest of the market, falling 5% and more early. Because in addition to announcing some pretty significant stock dilution, the stock is likely to fall short on sales estimates in fiscal Q1 (Stifel projects CA$54 million, down from CA$62 million previously) and report a CA$13 million EBITDA loss to boot. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Rich Smith has no position in any of the stocks mentioned. | And marijuana stocks such as Aurora Cannabis (NYSE: ACB), Aphria (NASDAQ: APHA), and Charlotte's Web (OTC: CWBHF) got hit hard along with the rest of the market, falling 5% and more early. 10 stocks we like better than Aurora Cannabis Inc. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Aurora Cannabis Inc. wasn't one of them! |
37197.0 | 2020-10-28 00:00:00 UTC | Ranking the ‘Big 4’ Canadian Marijuana Stocks From Best to Worst | ACB | https://www.nasdaq.com/articles/ranking-the-big-4-canadian-marijuana-stocks-from-best-to-worst-2020-10-28 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Marijuana stocks have been red-hot heading into the U.S. election. Former Vice President Joe Biden is performing well in the polls. A “blue wave” could open the door for decriminalization of recreational marijuana, potential rescheduling and other federal cannabis legislation.
A Biden victory could be best for U.S. multi-state operators. But Cantor Fitzgerald said this month that Canadian legal cannabis producers could also enjoy “collateral benefits” from their Southern neighbor’s marijuana legislation.
To be sure, 2020 has been another disappointing year for Canadian cannabis stocks. Investors hoping for a rebound after a difficult 2019 have instead suffered even more-negative price action. Canadian marijuana prices have continued to deflate, and so-called Cannabis 2.0 products have yet to pick up the slack.
In fact, the so-called “big four” Canadian legal cannabis producers are each down between 3% and a whopping 82% year-to-date.
They are as follows:
Aurora Cannabis (NYSE:ACB)
Canopy Growth Corp (NYSE:CGC)
Cronos Group (NASDAQ:CRON)
Tilray (NASDAQ:TLRY)
The election may very well make 2021 the year cannabis investors have been waiting for. However, there is still plenty of uncertainty in the cannabis market, particularly in Canada. I still believe the cannabis industry will ultimately produce some huge winners for investors in the long-term. So for investors looking to bet on cannabis by buying Canadian LPs, here’s a rundown of the big four Canadian marijuana stocks — ranked from best to worst.
7 Growth Stocks Running On Fumes
When I ranked the big four Canadian marijuana back on April 22, I put Canopy first, followed by Cronos, Tilray and Aurora last. The chart below shows I’ve been four-for-four up to this point.
Canopy has been by far the best performer followed by Cronos then Tilray then Aurora. Since then, some things have changed, and I believe that chart will look a lot different six months from now.
Big 4 Marijuana Stocks: Canopy Growth Corp (CGC)
CGC) website is open in an internet browser tab." width="300" height="169">Source: Jarretera / Shutterstock.com
Canopy Growth is the only cannabis stock that I personally bought on the market downturn back in March. So of course it’s going to be my top pick out of the big four. CGC stock has been the best performer of the big four Canadian marijuana stocks in 2020. It’s also up 72.5% in the seven months since I bought the stock, so no complaints here.
There are several reasons why I like Canopy more than any other pot stock. First, it has the largest share of the Canadian recreational cannabis market. Second, it has the financial backing of minority investor and global alcohol giant Constellation Brands (NYSE:STZ). Balance sheets are one of the biggest problems in the cannabis space these days. Constellation has Canopy’s back.
But most importantly, Canopy has the biggest vested interest in U.S. federal cannabis legalization. Canopy has already agreed to a conditional buyout of U.S. MSO Acreage Holdings (OtherOTC:ACRHF). If the Washington ever legalizes pot, Canopy immediately has a massive first-mover advantage due to its Acreage acquisition.
Aurora Cannabis (ACB)
Source: ElRoi / Shutterstock.com
When I last ranked the Canadian cannabis stocks, I ranked Aurora Cannabis dead last. Despite the fact that ACB stock is down another 44% since then, I believe the outlook has significantly improved.
In September, Aurora announced a new CEO and a non-cash writedown of goodwill and intangible assets of between $1.6 billion CAD ($1.21 billion) and $1.8 billion CAD ($1.37 billion).
Cantor Fitzgerald analyst Pablo Zuanic says Aurora’s recreational marijuana business is not currently in a good place. But the company’s management team has the right plan moving forward.
7 Growth Stocks Running On Fumes
“Management will increase focus on other premium and super premium flower lines, and expand other formats (pre-rolls, vapes, edibles),” Zuanic told clients.
I’ve repeatedly called ACB stock a lottery ticket pick. But expectations are so low at this point that the potential payoff on that ticket is higher than ever.
Cronos Group (CRON)
Click to EnlargeSource: Shutterstock
The more the cannabis bull case has shifted away from growth and toward balance sheets, the better Cronos Group has looked.
As a value investor at heart, I always feel more comfortable recommending stocks that are liquid and profitable. Cronos is profitable over the past four quarters. It also has plenty of liquidity and the financial backing of tobacco giant Altria (NYSE:MO).
Critics could point to Cronos being too defensive in investing in expanding its business. But given the financial troubles Aurora and other marijuana stocks have run into by overextending themselves, CRON stock investors are likely now thankful the company took a more conservative approach.
Morningstar analyst Kristoffer Inton is bullish on Cronos’ exposure to the U.S. cannabidiol market and other international cannabis markets.
“Cronos’ efforts to expand production internationally should offset its cost-disadvantaged Canadian production. We forecast roughly 20% average annual growth through 2030,” Inton told clients.
Tilray (TLRY)
TLRY) logo on a web browser." width="300" height="169">Source: Jarretera / Shutterstock.com
Once upon a time, Tilray’s ambitious international growth strategy made it among the hottest marijuana stocks. Today, its lack of profitability, lack of major financial backers and aggressive shareholder dilution makes it the most dangerous investment of all the big four Canadian cannabis stocks.
Last quarter, Tilray’s revenue growth dropped to just 10%, down from 126% in the previous quarter. Without a compelling growth narrative and a solid balance sheet, Tilray is at the mercy of a struggling Canadian cannabis market.
The longer the growth narrative takes to play out, the more TLRY stock holders will suffer.
7 Growth Stocks Running On Fumes
“The company has yet to generate positive free cash flow and faces maturing notes in the medium term, which will likely require outside capital or refinancing,” Inton wrote.
Slowing growth, rising costs and ongoing cash burn apply further pressure to Tilray’s balance sheet. That being said, the stock could still ultimately prove to be a big winner if cannabis market conditions improve.
On the date of publication, Wayne Duggan held a long position in CGC.
Wayne Duggan has been a U.S. News & World Report Investing contributor since 2016 and is a staff writer at Benzinga, where he has written more than 7,000 articles. He is the author of the book “Beating Wall Street With Common Sense,” which focuses on investing psychology and practical strategies to outperform the stock market.
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The post Ranking the ‘Big 4’ Canadian Marijuana Stocks From Best to Worst appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | They are as follows: Aurora Cannabis (NYSE:ACB) Canopy Growth Corp (NYSE:CGC) Cronos Group (NASDAQ:CRON) Tilray (NASDAQ:TLRY) The election may very well make 2021 the year cannabis investors have been waiting for. Aurora Cannabis (ACB) Source: ElRoi / Shutterstock.com When I last ranked the Canadian cannabis stocks, I ranked Aurora Cannabis dead last. Despite the fact that ACB stock is down another 44% since then, I believe the outlook has significantly improved. | They are as follows: Aurora Cannabis (NYSE:ACB) Canopy Growth Corp (NYSE:CGC) Cronos Group (NASDAQ:CRON) Tilray (NASDAQ:TLRY) The election may very well make 2021 the year cannabis investors have been waiting for. Aurora Cannabis (ACB) Source: ElRoi / Shutterstock.com When I last ranked the Canadian cannabis stocks, I ranked Aurora Cannabis dead last. Despite the fact that ACB stock is down another 44% since then, I believe the outlook has significantly improved. | They are as follows: Aurora Cannabis (NYSE:ACB) Canopy Growth Corp (NYSE:CGC) Cronos Group (NASDAQ:CRON) Tilray (NASDAQ:TLRY) The election may very well make 2021 the year cannabis investors have been waiting for. Aurora Cannabis (ACB) Source: ElRoi / Shutterstock.com When I last ranked the Canadian cannabis stocks, I ranked Aurora Cannabis dead last. Despite the fact that ACB stock is down another 44% since then, I believe the outlook has significantly improved. | They are as follows: Aurora Cannabis (NYSE:ACB) Canopy Growth Corp (NYSE:CGC) Cronos Group (NASDAQ:CRON) Tilray (NASDAQ:TLRY) The election may very well make 2021 the year cannabis investors have been waiting for. Aurora Cannabis (ACB) Source: ElRoi / Shutterstock.com When I last ranked the Canadian cannabis stocks, I ranked Aurora Cannabis dead last. Despite the fact that ACB stock is down another 44% since then, I believe the outlook has significantly improved. |
37198.0 | 2020-10-27 00:00:00 UTC | CANADA STOCKS - TSX falls 0.36% to 16,020.94 | ACB | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-0.36-to-16020.94-2020-10-27 | nan | nan | * The Toronto Stock Exchange's TSX falls 0.36 percent to 16,020.94
* Leading the index were Colliers International Group Inc , up 12.0%, Husky Energy Inc HSE.TO, up 7.3%, and Cenovus Energy Inc CVE.TO, higher by 6.7%.
* Lagging shares were Aurora Cannabis Inc ACB.TO, down 9.5%, Teck Resources Ltd TECKb.TO, down 5.8%, and Maple Leaf Foods Inc MFI.TO, lower by 4.7%.
* On the TSX 100 issues rose and 121 fell as a 0.8-to-1 ratio favored decliners. There was 1 new high and no new lows, with total volume of 188.8 million shares.
* The most heavily traded shares by volume were Cenovus Energy Inc CVE.TO, Royal Bank Of Canada RY.TO and Suncor Energy Inc SU.TO.
* The TSX's energy group .SPTTEN fell 0.08 points, or 0.1%, while the financials sector .SPTTFS slipped 4.49 points, or 1.7%.
* West Texas Intermediate crude futures CLc1 rose 0.96%, or $0.37, to $38.93 a barrel. Brent crude LCOc1 rose 0.49%, or $0.2, to $40.66 O/R
* The TSX is off 6.1% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Lagging shares were Aurora Cannabis Inc ACB.TO, down 9.5%, Teck Resources Ltd TECKb.TO, down 5.8%, and Maple Leaf Foods Inc MFI.TO, lower by 4.7%. * On the TSX 100 issues rose and 121 fell as a 0.8-to-1 ratio favored decliners. * West Texas Intermediate crude futures CLc1 rose 0.96%, or $0.37, to $38.93 a barrel. | * Lagging shares were Aurora Cannabis Inc ACB.TO, down 9.5%, Teck Resources Ltd TECKb.TO, down 5.8%, and Maple Leaf Foods Inc MFI.TO, lower by 4.7%. * On the TSX 100 issues rose and 121 fell as a 0.8-to-1 ratio favored decliners. * The most heavily traded shares by volume were Cenovus Energy Inc CVE.TO, Royal Bank Of Canada RY.TO and Suncor Energy Inc SU.TO. | * Lagging shares were Aurora Cannabis Inc ACB.TO, down 9.5%, Teck Resources Ltd TECKb.TO, down 5.8%, and Maple Leaf Foods Inc MFI.TO, lower by 4.7%. * The Toronto Stock Exchange's TSX falls 0.36 percent to 16,020.94 * Leading the index were Colliers International Group Inc , up 12.0%, Husky Energy Inc HSE.TO, up 7.3%, and Cenovus Energy Inc CVE.TO, higher by 6.7%. * The most heavily traded shares by volume were Cenovus Energy Inc CVE.TO, Royal Bank Of Canada RY.TO and Suncor Energy Inc SU.TO. | * Lagging shares were Aurora Cannabis Inc ACB.TO, down 9.5%, Teck Resources Ltd TECKb.TO, down 5.8%, and Maple Leaf Foods Inc MFI.TO, lower by 4.7%. * The Toronto Stock Exchange's TSX falls 0.36 percent to 16,020.94 * Leading the index were Colliers International Group Inc , up 12.0%, Husky Energy Inc HSE.TO, up 7.3%, and Cenovus Energy Inc CVE.TO, higher by 6.7%. * The most heavily traded shares by volume were Cenovus Energy Inc CVE.TO, Royal Bank Of Canada RY.TO and Suncor Energy Inc SU.TO. |
37199.0 | 2020-10-27 00:00:00 UTC | Why Aurora Cannabis Stock Just Tanked 6% | ACB | https://www.nasdaq.com/articles/why-aurora-cannabis-stock-just-tanked-6-2020-10-27 | nan | nan | What happened
Aurora Cannabis (NYSE: ACB) investors are having a bad day. Investment bank Cantor Fitzgerald cut its rating on the marijuana stock from overweight to neutral Tuesday morning, reported TheFly.com, and cut its price target in half -- from 18 Canadian dollars a share to just CA$7 -- sending the stock spiraling downward on a flat day for the broader market.
As of 1:34 p.m. EDT, Aurora Cannabis stock was down by 6.3% -- but the company has only itself to blame.
Image source: Getty Images.
So what
Early Tuesday morning -- about two and a half hours before Cantor issued its downgrade -- Aurora announced that it only has about $272 million left in proceeds from its previous "at the market" stock sale. To refill its coffers, the company is proposing to sell another $500 million worth of "common shares, preferred shares, warrants, subscription receipts and debt securities" over the next 25 months.
Cantor Fitzgerald was not at all pleased to hear this, observing that "contrary to expectations and guidance," says TheFly, the company appears to have burned through "what was left of the $183M equity facility in the last 30 days."
Now what
Now, Aurora needs more money, and to raise it, the company is issuing new stock, debt, warrants -- everything it thinks it might be able to sell, kitchen sink included. Notably, Aurora Cannabis's current stock is only valued at $505 million in total (plus another $275 million in net debt) so the sales it just announced that it's planning hold the potential to dilute existing shareholders' ownership stakes in the company by 50%.
No wonder investors are upset -- and no wonder Cantor Fitzgerald downgraded the stock.
10 stocks we like better than Aurora Cannabis Inc.
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Aurora Cannabis Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of October 20, 2020
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened Aurora Cannabis (NYSE: ACB) investors are having a bad day. So what Early Tuesday morning -- about two and a half hours before Cantor issued its downgrade -- Aurora announced that it only has about $272 million left in proceeds from its previous "at the market" stock sale. Cantor Fitzgerald was not at all pleased to hear this, observing that "contrary to expectations and guidance," says TheFly, the company appears to have burned through "what was left of the $183M equity facility in the last 30 days." | What happened Aurora Cannabis (NYSE: ACB) investors are having a bad day. Investment bank Cantor Fitzgerald cut its rating on the marijuana stock from overweight to neutral Tuesday morning, reported TheFly.com, and cut its price target in half -- from 18 Canadian dollars a share to just CA$7 -- sending the stock spiraling downward on a flat day for the broader market. So what Early Tuesday morning -- about two and a half hours before Cantor issued its downgrade -- Aurora announced that it only has about $272 million left in proceeds from its previous "at the market" stock sale. | What happened Aurora Cannabis (NYSE: ACB) investors are having a bad day. Investment bank Cantor Fitzgerald cut its rating on the marijuana stock from overweight to neutral Tuesday morning, reported TheFly.com, and cut its price target in half -- from 18 Canadian dollars a share to just CA$7 -- sending the stock spiraling downward on a flat day for the broader market. Notably, Aurora Cannabis's current stock is only valued at $505 million in total (plus another $275 million in net debt) so the sales it just announced that it's planning hold the potential to dilute existing shareholders' ownership stakes in the company by 50%. | What happened Aurora Cannabis (NYSE: ACB) investors are having a bad day. Notably, Aurora Cannabis's current stock is only valued at $505 million in total (plus another $275 million in net debt) so the sales it just announced that it's planning hold the potential to dilute existing shareholders' ownership stakes in the company by 50%. No wonder investors are upset -- and no wonder Cantor Fitzgerald downgraded the stock. |
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