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.
When Apple introduced Apple Pay in 2014, it was working with credit card providers—not trying to replace them. “When we thought about Apple Pay, we thought, there are a lot of payments out there that our customers already love and trust,” Jennifer Bailey, Apple VP of internet services and Apple Pay, said Tuesday morning during Fortune‘s Brainstorm Reinvent conference in Chicago. Plus, getting a bank charter would have put Apple in regulatory territory—and “we don’t want to be regulated,” Bailey said.
"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.
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.
(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
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.
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,
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.
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.
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.
Facebook is being sued by a former content moderator in a lawsuit seeking class action status. The moderator alleges she experienced PTSD because of her job and that Facebook failed to provide a safe working environment. Content moderators are tasked with policing illegal and unsavory content online, and can be exposed to child abuse imagery, graphic violence, and other dark material.
U.S. oil exports to China are becoming a casualty of Donald Trump’s trade war with Xi Jinping’s administration. Unipec, the trading unit of top Chinese refiner Sinopec, has put a plan to boost U.S. crude imports on hold as it assesses the impact of the Asian nation’s trade war with America, according to company President Chen Bo. The reluctance to boost purchases shows how the trade war between the major economies is reverberating in the world of energy trading even though crude isn’t yet subjected to tariffs.
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.
Activewear maker Nike (NKE) reported quarterly earnings that beat average analyst estimates as company executives asserted the company is on track for “strong, sustainable growth” in its key North American market. Kaepernick began kneeling during the national anthem before football games in 2016 to protest racial injustice and police brutality, sparking criticism from individuals including President Donald Trump.
CNBC's 'Squawk Box' team reports on Chamath Palihapitiya firing people from his venture capital firm. He's reportedly turning his company into a technology holding company.
Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Altria (MO), which belongs to the Zacks Tobacco industry, could be a great candidate to consider. When looking at the last two reports, this owner of Philip Morris USA, the nation's largest cigarette maker has recorded a strong streak of surpassing earnings estimates.
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
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
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
An unusual flurry of activity in Congress is aimed at helping Americans save for retirement. The Retirement Enhancement and Savings Act (RESA), jointly sponsored by Senators Orrin Hatch (R-Utah) and Ron Wyden (D-Oregon), has received the most publicity. My favorite proposal, however, is introducing “side-car” accounts that would enable people to save for rainy days through a workplace savings account.
Shares of China-based Viomi Technology Co. Ltd. (viot) shot up as much as 22% above the initial public offering price of $9 in its public debut, before pulling back sharply. After the initial run up to an intraday high of $10.95, the stock fell to a low of $8.97, or 0.3% below its IPO price, before bouncing slightly to be up 0.7% in afternoon trade. The company raised $102.6 million in the IPO, which valued the company at $811.8 million.
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.
Tuesday, September 25, 2018The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Johnson & Johnson (JNJ), Visa (V) and Verizon (VZ). These research
Over the next five years, the federal government will provide subsidies in excess of $1 trillion for retirement saving, according to estimates from the Joint Committee on Taxation. The bulk of these subsidies will be delivered through defined-contribution accounts, such as 401(k)s and IRAs, that lower savers’ tax bills if they sock money away for retirement. While retirement security is indeed an important policy goal, the way we subsidize such saving is ineffective, regressive and in pressing need of reform.