Stocks - Canopy Growth, Caterpillar Fall Premarket
Investing.com - Stocks in focus in premarket trading on Friday:
• Canopy Growth (NYSE:CGC) stock slumped 6.5% after it reported a sharp widening in operating and net losses driven by heavy investment in expansion; revenue in the quarter grew nearly fourfold, driven by higher retail sales following the legalization of recreational marijuana use in Canada.
• Delta Airlines (NYSE:DAL) stock inched down 0.1% after it bought a 4.3% stake in the parent company of Korean Air Lines, and announced that it would like to increase its stake to 10%.
• UnitedHealth (NYSE:UNH) stock was unmoved by 8:20 AM ET (12:20 GMT) after The Wall Street Journal reported that it had agreed to buy health-care payments firm Equian for $3.2 billion. The insurer is likely to merge Equian into its Optum health services arm, the paper reported.
• Caterpillar (NYSE:CAT) stock slipped 1.3% after Atlantic Equities downgraded it to “underweight” from “neutral,” due to expectations for weaker growth, according to CNBC.
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