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Restaurant Brands CEO José Cil said if a company delivers good food a recession won't hurt its business.
Canopy Growth Corp (NYSE: CGC)’s former CEO Bruce Linton, ousted from his spot earlier this year, said this week he was still buying shares of the company despite his termination. The company's strong cash position, international footprint and extensive intellectual property library are the main drivers of his bullish thesis. Lowell Herb Co. announced the closing of a funding round supported by A-list celebrities Miley Cyrus, Chris Rock, Sarah Silverman and Mark Ronson.
Which stock wins in a face-off between an investment spin-off of a leading Canadian cannabis producer and the top U.S. cannabis-focused REIT?
(Bloomberg Opinion) -- The fires currently consuming Brazil’s Amazon rainforest seem a world away from the tense diplomacy in the U.S. trade war with China. In truth, they’re more closely connected than you might suspect.One of Beijing’s main acts of retaliation in the fight has been to freeze purchases of the 30 million metric tons to 40 million tons of American soybeans it imports each year. That’s left it more dependent than ever on Brazilian soy to take up the slack. Chinese imports from Brazil in the 12 months through April came to 71 million tons, about as much as it imported from the entire world in 2014. As we’ve written, that’s driving an investment boom into Brazil’s farm sector, with major agribusiness players such as Nutrien Ltd. and Mosaic Co. shifting their focus to South America to take advantage of Beijing's desire to diversify away from dependence on U.S. food supplies. In a sense, this shouldn’t have a direct impact on the Amazon. Most Brazilian soy is grown in the cerrado, a vast area of savannah to the south and east of the rainforest. Agricultural investment has concentrated on converting cerrado land currently used for pasturing livestock into row-crops like soybeans. That process should be able to result in a huge expansion of arable land without touching the Amazon. The trouble is, even Brazil has a finite amount of land and if you squeeze the balloon in one place, it risks popping out in another. As it is, most of the expansion of Brazil’s arable land over the past decade appears to have come at the expense of regrowth forest, which tends to be less well-protected than primary forest like the Amazon. This year’s fires could see ranchers driven out of the cerrado by arable crops to seek new pastures in freshly-cleared former rainforest in the Amazon.That’s particularly dispiriting because preservation campaigns appear to have started paying off in recent years, with clearing of Brazil’s primary rainforest almost brought to a halt over the past decade despite the ongoing felling of regrowth woodlands. President Jair Bolsonaro has already promised a more aggressive approach to developing the Amazon, scorning environmental concerns and jokingly referring to himself as “Captain Chainsaw.” Even when activity is kept away from the Amazon, land conversion has a damaging effect on the atmosphere. Brazil’s cerrado pastureland can be quite densely forested, with livestock grazing beneath the open canopy of the trees. Converting that to row crops necessitates uprooting those carbon-sequestering trunks, one reason it’s such a costly and difficult process. In addition, pastureland trampled by livestock is quite effective at locking atmospheric carbon up in the soil, but arable fields tilled every year fail to make as much difference.It’s still hard to tell exactly who is responsible for the 84% increase in fires in Brazil’s forests over the past year. The intensity of the infernos is likely the result of drought, although the rising number of blazes almost certainly comes from an increase in deliberate human activity. More than half of outbreaks have been in the Amazon, with another 30% in the cerrado and most of the rest in the coastal Atlantic forest.The danger of the current situation is that China’s hunger for soy may derail the halting recent progress in ending deforestation. The European Union in June concluded a trade agreement with the South American Mercosur bloc after two decades of negotiation, but Bolsonaro’s insouciant attitude to the Amazon represents a stumbling bloc for European governments who are needed to ratify the deal. Brazil’s agribusiness sector has even lobbied Bolsonaro’s government to take greater steps to halt deforestation, out of fear that his confrontational stance could jeopardize the EU-Mercosur deal and hurt their exports.China, on the other hand, tends to be a much more hands-off trading partner, and long-standing concerns about food security mean Beijing has been unusually solicitous of Brazil’s approval. If anything could nudge Bolsonaro toward ignoring his country’s land barons and following his instincts instead, it’s the prospect of a rich alternative source of foreign exchange from China.This would be a miserable and unexpected outcome from the current trade war. Despite coming to office on a pledge to revive the coal industry and tear up environmental rules, President Donald Trump has mostly failed to reverse the greening of America’s power sector and the auto industry’s drive toward lower tailpipe emissions.His trade fight with an equally carbon-addicted China, however, encouraged that country to embark on a ruinously carbon-intensive industrial stimulus last year, and may now be driving Brazil to uproot more of its forests. The grimmest climate legacy of the Trump administration may well come not from energy policy, but from trade.To contact the author of this story: David Fickling at firstname.lastname@example.orgTo contact the editor responsible for this story: Patrick McDowell at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
The largest Insider Buys this week were for AbbVie Inc., Occidental Petroleum Corp, General Electric Co. and Keurig Dr Pepper Inc. Continue reading...
Eastman Chemical (EMN) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Morgan Stanley analyst Katy Huberty maintains an Equal-weight rating on HP with a price target lowered from $23 to $21. HP's fiscal third quarter report shows demand for its printer products weakened from poor demand, especially in the EMEA region, Huberty wrote in a note. The company suffered from a greater-than-expected disruption from operational changes and contributed to a supply growth miss at negative 7% versus expectations for 3.4% growth.
Long-time HP veteran Enrique Lores, who runs the $20 billion printer business, is succeeding Dion Weisler effective Nov. 1. Weisler, who was named CEO in late 2014 after the computing behemoth was split into two companies, is leaving for a “family health matter.”
HP news for Friday includes HPQ stock dropping with its CEO is leaving.Source: Tomasz Wozniak / Shutterstock.com Dion Weisler, the current CEO of HP (NYSE:HPQ), is going to be stepping down from this role at the start of November. The reason given for his departure is "a family health matter." This will have him returning to Australia.The HP news release about Weisler's departure also includes information on the company's next CEO. Enrique Lores, the current President of the Imaging, Printing and Solutions business at HP, is going to be taking over for Weisler starting on Nov. 1.InvestorPlace - Stock Market News, Stock Advice & Trading TipsEven with Weisler leaving the CEO position, he will still have a role at the company. This includes continuing to hold his Board of Directors until the next annual meeting of shareholders. He will also be sticking around through January 2020 to ensure a smooth transition between him and Lores."Thirty years ago, I was drawn to HP by the company's unique ability to bring out the best of humanity through the power of technology," Lores said in the HP news release. "The opportunities ahead are vast and the need for us to keep reinventing is more important than ever." * 7 Retail Stocks to Buy on the Dip Even with HP having a new CEO ready to take over for Weisler, the company's stock is still reacting negatively. This has HPQ stock down 6% as of Friday afternoon. The stock is also down 8% since the start of the year. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy on the Dip * 7 Marijuana Stocks With Critical Levels to Watch * 7 Internet of Things Stocks to Buy Now As of this writing, William White did not hold a position in any of the aforementioned securities.The post HP News: HPQ Stock Drops on CEO Departure appeared first on InvestorPlace.
HP announced a trifecta of jolting news during its third-quarter earnings statement Thursday: It named a new CEO, reported a significant slide in printer supply sales, and offered tepid guidance for its current quarter amid economic uncertainty.
Bruce Linton, Canopy Growth's (CGC) (WEED) former co-CEO, has acquired more stock in the company. Overall, analysts favor a “buy” rating on the stock.
HP's (HPQ) third-quarter fiscal 2019 results gain from strong growth in Personal Systems revenues. However, weakness in the Printing business remains an overhang.
U.S. stocks fell on Friday after China threatened to impose additional tariffs on $75 billion worth of U.S. goods, ahead of a highly anticipated speech from Federal Reserve Chair Jerome Powell. China's latest tariffs, which follow U.S. duties on $300 billion worth of Chinese goods, threaten to prolong an ongoing trade war between the world's top two economies that has raised concerns about slowing global growth. China's commerce ministry said it would impose additional tariffs on thousands of U.S. products, including agricultural products, crude oil, small aircraft and cars.
Hexo Corp (NYSE:HEXO) continues to feel the impact of its underwhelming Q3 earnings, a slower than expected recreational cannabis market in Canada, and concern over corporate leadership in the industry. Hexo stock is down 13% from Monday's open, and is now trading right around the $4 mark.Source: Shutterstock This continues a slide that began after HEXO hit an all-time high of $8.28 in April, and worsened after another quarter of red ink and the departure of its co-founder from his executive role. HEXO Underwhelmed in Q3On June 12, HEXO reported Q3 earnings and failed to impress investors. The company missed badly on revenue ($13 million CAD compared to the $14 million analysts were looking for) and the red ink was worse than expected, with a quarterly loss of $7.75 million -- up from a loss of $1.97 million the previous year. The company announced plans to enter the U.S. CDB market through a joint venture with Molson Coors Brewing Co (NYSE:TAP), but that is fast becoming a crowded field and investors weren't overly impressed. Hexo stock dropped over 8% on the results.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Marijuana Stocks That Could See 100% Gains, If Not More HEXO is expected to report Q4 earnings in September. Investor Nervousness Around Cannabis IndustryMany investors piled onto Canadian cannabis stocks over the past year, looking for the legalization of recreational pot in Canada to result in a boom market. The reality has been a little harsh for some.Slower than expected initial sales of recreational pot led to cannabis stocks tumbling in the days after recreational marijuana use was legalized in Canada last October. There were no line-ups at Canadian cannabis retailers and product shortages were reported as a result of glitches in distribution and production. While the situation has improved, recreational pot still isn't exactly flying off the shelves in Canada.Adding to investor unease, 2019 has seen considerable drama among Canadian cannabis companies, and HEXO has not been immune. In January, the CEO of Aphira (NYSE:APHA) left the company amid allegations of improprieties regarding acquisitions in Latin America. On July 10 the CEO and co-founder of Canopy Growth (NYSE:CGC) was forced out of his role, and didn't leave without igniting controversy over his dismissal.Just days later on July 18, HEXO's co-founder stepped down from his role of Chief Brand Officer, although he retained his seat on the board.The most recent headlines were centered around CannTrust Holdings (NYSE:CTST), which became the center of Health Canada and Ontario Securities Commission investigations over illegal cannabis cultivation at one of its facilities. The fallout there has included the firing of the CannTrust Holdings CEO and the forced resignation of the company's co-founder and chairman. The series of leadership shakeups and missteps has certainly not helped cannabis stocks in 2019, although the corporate transitions are expected to put many of these companies in stronger positions for the long term. How Does Hexo Stock Performance Compare to Cannabis Cohorts?Even after this week's 13% drop and a decline in Hexo stock price of around 40% since it reported Q3 earnings in June, HEXO is performing reasonably well on the year compared to its fellow Canadian cannabis stocks. Year-to-date growth is 6.5% for HEXO, while Aurora Cannabis (NYSE:ACB) is up 11% and Aphira has gained over 8%.However the biggest of the Canadian cannabis producers Canopy Growth has lost 13% since the start of the year. CannTrust Holdings -- the company that kicked off the latest round of concern about the industry -- has dropped some 64% so far in 2019. * 7 Retail Stocks to Buy on the Dip The question for HEXO investors is whether the company's Q4 earnings are going to going to be as underwhelming as Q3's were. If so, the Hexo stock price slump that started in April could well continue through the fall. And HEXO doesn't have far to drop before it goes into the red for 2019…As of this writing, Brad Moon did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy on the Dip * 7 Marijuana Stocks With Critical Levels to Watch * 7 Internet of Things Stocks to Buy Now The post Hexo Stock Continues to Feel the Effects of Cannabis Industry Issues appeared first on InvestorPlace.