Canada-based Aurora Cannabis Inc. tripled its revenue thanks to bigger weed sales in the final quarter of its fiscal year, but the pot producer’s profit gains were mostly the result of a different business: investing in other marijuana companies. Aurora (ACBFF)(CA:ACB) executives, similar to competitors like Canopy Growth Corp. (CGC)(CA:WEED) and Cronos Group Inc. (CRON)(CA:CRON) , said after releasing earnings Monday evening that the company is prepared for a big spike in sales. “In about three weeks from now, a significant increase in demand will initially come from the Canadian legal consumer use market,” Aurora Chief Corporate Officer Cameron Battley said on a conference call Tuesday morning.
Michael Kors has an ambitious plan to turn Versace into a multibillion-dollar business. Kors, which is changing its corporate name to Capri Holdings Ltd., announced Tuesday that it would buy Gianni Versace SpA for about $2.2 billion. It outlined a plan to more than double the high-end brand’s sales by opening about 100 new stores, investing in e-commerce and selling more accessories and footwear under the Versace label.
"It is a voluntary plan and offers employees three weeks' pay for every year of service," Verizon spokesman Jim Gerace said, without providing details on the number of employees who would be offered the plan. Verizon had about 153,100 employees as of June.
Jim Cramer rattles off his take on callers' favorite stocks, including a high-profile auto play with a heavy trading volume.
With the Federal Reserve all but certain to raise interest rates on Wednesday, investors may need to brace for sudden, unexpected market volatility as stocks have been underperforming on Fed Days in recent months. Data published by Bespoke Investment Group Tuesday indicate that stocks, on average, fell 0.13% on the last 10 times the central bank held its policy meetings. Adding to potential trouble, George Goncalves, head of U.S. rates strategy at Nomura, notes that a Wednesday rate hike would mark the first time that the Fed has tightened in September, a month in which the stock market historically has not performed well.
U.S. equities are under pressure on Monday amid fresh U.S.-China trade tensions (Beijing is threatening to abandon discussions) and reports in the political press that Deputy Attorney General Rosenstein — who is in charge of the Mueller investigation — has resigned in anticipation of being fired by President Trump. Subsequent reporting says that Trump and Rosenstein had an extended conversation and will meet on Thursday when Trump returns to Washington D.C. Stocks are weakening on worries the fate of the Russia investigation is tied up with Rosenstein.
Investors are no longer skeptical enough about corporate earnings and in turn have made the U.S. stock market the most expensive in the world, says Yale economist Robert Shiller. Investors are no longer skeptical enough about corporate earnings and in turn have made the U.S. stock market the most expensive in the world, Nobel Prize winner Robert Shiller told CNBC on Tuesday.
With a 52-week high just over $50 and with the stock now under $25, JD stock is officially down more than 50% from its January highs. The company has a $35 billion valuation and is expected to generate sales of almost $69 billion this year. Is JD stock a screaming buy amid an escalating trade way?
MARKET PULSE Shares of General Electric Co. (ge) sank 4.1% in afternoon trade Tuesday, putting them on track to close at the lowest level since July 10, 2009. The industrial conglomerate's stock has now plunged 12% in four sessions,
(Photo credit: CNBC) Weed has been a red-hot investment theme in 2018. As some cannabis companies’ share prices have shot up in the past few months, some already caution that we may be experiencing a bitcoin craze again. Here are the cannabis stocks
India is not planning to buy any crude oil from Iran in November, raising the prospect that Tehran will lose another major customer as U.S. sanctions hit. Indian Oil Corp. and Bharat Petroleum Corp. haven’t asked for any Iranian cargoes for loading in November, according to officials at the companies. India is the second-largest buyer of Iranian oil, having imported an average of 577,000 barrels a day this year, or about 27 percent of the Middle Eastern country’s exports, according to Bloomberg tanker tracking data.
The stock lagged the S&P 500's daily loss of 0.13%. This has outpaced the Computer and Technology sector's gain of 0.35% and the S&P 500's gain of 1.71% in that time. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $45.56 billion, up 14.85% from the year-ago period.
A leaked letter confirms that Starbucks layoffs and other changes are on the way. This letter comes from Starbucks (NASDAQ:SBUX) CEO Kevin Johnson and was sent to the coffee chain’s employees via email. According to this letter, the Starbucks layoffs and other changes are starting this week and will last into November.
Nio, widely seen as the Tesla of China, is tumbling after its initial-public-offering highs. "An unproven management team along zero experience in manufacturing cars makes this an easy stock to steer clear of," said Mark Tepper, president of Strategic Wealth Partners. Nio, widely seen as the Tesla of China, is tumbling this week, which echoes an investor's bearish view.
Will turmoil in D.C. derail the rally. Just how bad can the chaos in D.C. get? With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, Steve Grasso and Guy Adami.
The top is in for existing-home sales, which make up 90% of transactions in the US, according to economists at Bank of America Merrill Lynch. The largest segment of the housing market has peaked and will no longer contribute to the US economy's growth, according to US economists at Bank of America Merrill Lynch. "We are calling it," the team led by Michelle Meyer said in a research note on Friday.
China is starting to buy more Argentine soybeans because of China’s trade war with the United States, and Argentina will in turn purchase more U.S. soybeans to meet its own needs, oilseeds analysts Oil World said on Tuesday. Soybean exports from the United States to China have come to a virtual stop since July when Beijing imposed heavy tariffs on U.S. imports as part of a trade war between the two countries.
Aurora Cannabis, one of the world's largest publicly traded marijuana companies, reported a surprise profit Tuesday that sent shares soaring more than 9%. The company increased its gross margins thanks to a higher selling price per gram of cannabis. Follow Aurora's stock price in real-time here.
SurveyMonkey parent company SVMK Inc. proved that dot-com-era companies can still go public decades after that bubble popped and still be in heavy demand. The San Mateo, Calif.-based survey-software maker priced its initial public offering higher than expected Tuesday evening and even added more shares to the sale. SurveyMonkey also planned to sell $40 million in stock to the venture-capital arm of Salesforce.com Inc. (CRM) , and there are 2.25 million more shares available to underwriters.
It's that time again! "Mad Money" host Jim Cramer rang the lightning round bell, which means he gave his take on callers' favorite stocks at rapid speed. Tesla TSLA : "I think that Tesla's just OK. It's a battle between the longs and the shorts. I don
Nike NKE is set to report its quarterly earnings results after the closing bell Tuesday. The yoga apparel firm’s adjusted quarterly earnings skyrocketed over 97% from $0.36 per share to $0.71 per share, which crushed our Zacks Consensus Estimate of $0.49. Equally important was Lululemon’s e-commerce growth, which is something Nike, Adidas ADDYY, Under Armour UAA, and many other retailers remain committed to.
DEEP DIVE Shares of many U.S. semiconductor manufacturers and their suppliers have been hammered over the past week, as investors have learned about the potential effects of President Trump’s trade war with China. But a high level
Tesla (NASDAQ:TSLA) has been all over the map, forcing investors to focus on seemingly everything except the automaker’s production. Tesla stock has been as volatile as ever, thanks to concerns over CEO Elon Musk, the Justice Department and whether the company is going private. One must wonder where TSLA stock price would be trading had Musk not said anything about “considering” taking Tesla private at $420 per share shortly after the company reported its second quarter earnings.
Alibaba (NYSE:BABA) looks absurdly cheap at the moment. Alibaba grew revenue 58% year over year in fiscal 2018 (ending March), and non-GAAP earnings per share surged by 40%. Margins were pressured in the first quarter, admittedly. But the top line still
Verizon (NYSE:VZ) will be offering to pay employees three weeks of severance for each year they have been with the company. News of these plans come as the wireless company looks to reduce its costs by $10 billion before 2021 rolls around. Another recent bit of news that may be connected to the layoffs are plans from Verizon to outsource its IT work.