|Bid||50.16 x 1800|
|Ask||50.21 x 1400|
|Day's Range||49.90 - 50.38|
|52 Week Range||39.30 - 57.88|
|Beta (5Y Monthly)||0.46|
|PE Ratio (TTM)||53.94|
|Earnings Date||Jan 30, 2020|
|Forward Dividend & Yield||3.36 (6.73%)|
|1y Target Est||53.25|
Morning Consult looked at the brands with the biggest jump in consumers who said they would consider buying from a specific company over the course of 2019. Yahoo Finance's Zack Guzman and Emily McCormick discuss the results with Strictly Cookies CFO Courtney Comstock on YFi PM.
Scott+Scott Attorneys at Law LLP ("Scott+Scott"), an international securities and consumer rights litigation firm, continues investigating certain directors and officers of Altria Group, Inc. ("Altria") (NASDAQ: MO) for breaching their fiduciary duties to Altria and its shareholders. If you are an Altria shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or firstname.lastname@example.org.
Dividend investors usually focus on companies that have a long track record of increasing their dividends year after year. The companies with at least 25 years of consecutive dividend increases are especially favored by income oriented investors. This is actually not a bad idea as long as these companies continue to increase dividends. However, when […]
The right mergers and acquisitions (M&A;) can make a good company even better by opening up new markets, expanding capabilities and market share, and diversifying product lines.Not every deal is a guaranteed winner, but investors typically benefit from smart M&A.; A 2016 Booth Business School study found, on average, an increase in overall value for both the acquiring and acquired companies at the time of the merger, and a long-term rise in value for companies that made cash acquisitions.Consider the $81 billion merger between Exxon and Mobil in 1999 that created Exxon Mobil (XOM) - now a $300 billion goliath and the largest publicly traded energy company on U.S. exchanges. Or there's Walt Disney's (DIS) $6 billion buyout of Pixar in 2006. The studio's animated films have generated nearly $11 billion in worldwide box office alone, not accounting for merchandise and other related opportunities.Last year was an especially good year for corporate M&A; thanks to major catalysts provided by tax reform, low borrowing costs and a healthy stock market. Dealmaking hit near-record levels last year. According to Mergermarket, 5,718 transactions closed, and deal volume exceeded $1.5 trillion - the second-highest total ever. Also noteworthy was last year's surge in "mega-deals" - transactions valued at more than $10 billion. These included Keurig Dr. Pepper's (KDP) $27 billion acquisition of soft drink maker Dr. Pepper Snapple Group and pharmacy chain CVS Health's (CVS) $70 billion takeover of health insurance provider Aetna.Here are 15 large-cap stocks that are looking for big things out of their pending or recently closed M&A; deals. These mergers and acquisitions are either already sparking new life in the acquiring companies, or analysts and other market professionals expect them to do so over the coming years. SEE ALSO: The Berkshire Hathaway Portfolio: All 47 Buffett Stocks Explained
Dec 10 (Reuters) - The following are the top stories in the Wall Street Journal. https://on.wsj.com/2P5Pmsf - NortonLifeLock Inc, the $16 billion consumer-software company, has attracted deal interest from a handful of companies including rival McAfee LLC, people familiar with the matter said.
(Bloomberg) -- Fidelity Investments, an early investor in Juul Labs Inc., has further cut its valuation of the troubled e-cigarette company to $16.4 billion.The Fidelity Blue Chip Growth Fund disclosed that the value of its shares in closely held Juul fell 6.2% during October from the previous month, according to a Nov. 30 report on its website. The fund held almost two-thirds of the 4.1 million Juul shares that Fidelity reported owning on a combined basis at the end of July.Tiger Global Management, the hedge fund run by Chase Coleman, slashed its valuation of Juul by half to $19 billion in September, according to a person with knowledge of the matter. Despite the drop, the fund is up 33% for the year through November, the person said.Juul’s valuation reached $38 billion a year ago when Altria Group Inc. acquired a 35% stake amid vaping’s surging popularity. Altria’s investment made the startup one of the most valuable companies in Silicon Valley and founders Adam Bowen and James Monsees the world’s first e-cigarette billionaires.But Juul’s success led to criticism that the e-cigarette company is responsible for a jump in teen vaping, leading to a investigation by federal regulators.A spokesman for Fidelity had no immediate comment, while Tiger Global and Juul declined to comment. Altria declined to comment beyond noting that the company took a Juul-related $4.5 billion charge in the third quarter as U.S. vaping volume came in lower than expected.The Wall Street Journal reported Tiger Global’s decision earlier Monday.Former Altria executive K.C. Crosthwaite replaced Kevin Burns as Juul’s chief executive officer in September, the same month the U.S. Food and Drug Administration accused the company of marketing its product as a safer alternative to tobacco without government approval. In October, Juul announced it would cut as much as 15% of its workforce.\--With assistance from Melissa Karsh and Cristin Flanagan.To contact the reporters on this story: Miles Weiss in Washington at email@example.com;Sophie Alexander in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Pierre Paulden at email@example.com, Steven CrabillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The writedown of Juul, in which Altria Group Inc has a 35% stake, came at the end of September, the Journal reported, citing people familiar with the matter. Altria took a $4.5 billion hit from its investment in Juul in October, with its valuation shrinking by more than a third to roughly $24 billion.
Canopy Growth (NYSE:CGC), with a $6.5 billion market capitalization, and 2.7 billion CAD in cash, remains better positioned than most of its peers.Source: Shutterstock Nonetheless, like most other marijuana equities, it continues in a downtrend. Worse, little on the horizon has appeared that could keep Canopy around. This decline could bring a grim scenario that would prevent most of Canopy Growth's long-term success from accruing to shareholders.In late October, I urged investors not to trust the rally in the high-flying pot stock. It would go on to lose about one-third of its value in a post-earnings plunge before bouncing off its lows. At the current stock price near $18.70 per share, it has lost about 10% of its value since I made that prediction. Unfortunately for Canopy Growth bulls, it continues to trade below the 50-day moving average.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe company also remains in limbo in the C-suite. Canopy Growth investor Constellation Brands (NYSE:STZ) used its influence to oust the company's founder from the CEO position in July. Since that time, it has not found a permanent replacement. As InvestorPlace's Will Ashworth mentions, it may even miss its self-imposed deadline to appoint a new CEO by the end of 2019. Constellation and Canopy GrowthStill, Constellation has made Canopy Growth what it is today. Thanks to Constellation's investments, the cannabis name still holds one of the strongest balance sheets in the industry. Canopy's size and remaining funds leave it well-positioned despite analyst projections of continuing losses. * 9 Tech Stocks You Wish You'd Bought During 2019 However, this could go poorly for shareholders. The reason why is that stock declines place Constellation in a better position to buy Canopy Growth outright.Yes, Constellation recently stated it would not provide additional cash outside of the exercise of warrants. Nonetheless, as things stand now, Constellation already owns 38% of the company. Moreover, as people drink less, revenues for STZ have fallen, and profits have not increased significantly. Hence, Constellation needs cannabis to return it to consistent growth. Buyout DangerThis could hurt investors as any buyout could come at a much lower stock price. Despite losing nearly two-thirds of its value since the spring, Canopy trades at levels too high for fundamentals to rescue it. The stock sells at almost 25 times sales. That far exceeds Constellation's price-to-sales ratio of 4.3 and that of Altria (NYSE:MO), which trades close to 4.7 time sales.I do not think Canopy will fall to a comparable P/S ratio anytime soon. However, in a buyout situation, the growth investors who bought Canopy Growth would exchange it for a slower-growth, dividend-producing investment. This means equity losses, which mounted quickly, could take years to recover.As mentioned before, I think Constellation's cash will help Canopy Growth weather a downturn in cannabis equities. However, the potential for a buyout at a lower price means reduced profits or steeper losses for shareholders. For this reason, I would think twice about investing in marijuana with Canopy Growth. The Bottom Line on Canopy GrowthA buyout by Constellation could hamper the growth potential of Canopy. Marijuana equities have sold off sharply since the spring as a weed supply glut and legal barriers have forced cannabis companies to revise revenue and earnings forecasts downward. This has hammered marijuana stocks, Canopy Growth included.However, Constellation's firing of Canopy's previous CEO points to its power in the company. Moreover, Constellation needs marijuana to reinvigorate sales and earnings growth. Such conditions point to a likely takeover, especially if the pot stock falls to a much lower price.Such a move means two things for current shareholders. Not only will they have sustained massive losses in a volatile stock, but they will also have to recover those losses in a slow-growth equity. This means it could take years to recover their investment.Since the attributes of Canopy Growth may not accrue to shareholders, investors should consider avoiding this stock.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Tech Stocks You Wish You'd Bought During 2019 * 5 Under-the-Radar Marijuana Stocks With Over 100% Upside * Watch These 5 STARS Stocks as They Change the Future The post A Constellation Buyout Would Harm Canopy Growth Shareholders appeared first on InvestorPlace.
Little known Chicago-area brewery takes over iconic San Diego beer brand for undisclosed sum less than five years after it was bought for a record price.
NEW YORK, NY / ACCESSWIRE / December 2, 2019 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. ...
Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Eastern District of New York captioned Cipolla v. Altria Group, Inc., et al., (Case No. 1:19-cv-06774), on behalf of persons and entities that purchased or otherwise acquired Altria Group, Inc. (NYSE: MO) (“Altria” or the “Company”) securities between October 25, 2018 and September 24, 2019, inclusive (the “Class Period”). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”). Investors are hereby notified that they have until December 2, 2019 to move the Court to serve as lead plaintiff in this action.
NEW YORK, NY / ACCESSWIRE / December 2, 2019 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate ...
STOCKSTOWATCHTODAY BLOG Into the Red. The three major U.S. stock market indexes fell after the latest manufacturing data came in worse than expected and showed that the sector contracted for the fourth straight month.
LOS ANGELES, CA / ACCESSWIRE / December 2, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Altria Group, Inc. ("Altria" or "the Company") (NYSE:MO) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between December 20, 2018 and September 24, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before December 2, 2019.
Citi upgraded Altria Group Inc . (NYSE: MO ) as part of a more bullish general outlook on tobacco companies, but dropped its rating on Philip Morris International Inc . (NYSE: PM ). The stocks moved in ...
NEW YORK, NY / ACCESSWIRE / December 2, 2019 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a ...
NEW YORK, NY / ACCESSWIRE / December 2, 2019 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Altria Group, Inc. ("Altria" or the "Company") ...