Small Canada-based marijuana producer FSD Pharma Inc. said late Monday it intends to acquire Therapix Biosciences Ltd. for $48 million in stock. FSD said that it has a license to cultivate medical marijuana in Canada and has been harvesting cannabis since last month, though the company did not disclose the quantity. MarketWatch was unable to immediately determine whether FSD sells medical pot directly to patients, as many other licensed marijuana producers in Canada do.

Credit Suisse’s Jonathan Golub says an upsurge in volatility may be feeding on itself leading to further wobbles in a market that was on the verge of busting higher just a month ago.

Marijuana stocks suffer broad and sharp losses Monday, and were heading for their worst week in over eight months, as full-legalization in Canada appears to have taken the shine off the sector, despite early indications of strong demand.

Shares of Crane Co. rose 3% in the extended session Monday after the industrial company reported third-quarter per-share earnings above forecasts and upped its guidance for the year. Crane said it earned $97 million, or $1.59 a share, compared with $68 million, or $1.13 a share in the third quarter of 2017. Adjusted for one-time items, Crane earned $1.62 a share. Sales rose 23% to $856 million in the quarter. Analysts polled by FactSet had expected adjusted earnings of $1.46 on sales of $856 million. Crane raised its full-year 2018 EPS guidance to between $5.20 and $5.30 a share, versus a prior range of $4.90-$5.10 a share. It raised adjusted EPS guidance to between $5.80 and $5.90, from $5.60-$5.80. It revised its free cash-flow guidance to $260 million-$290 million, from $250 million-$280 million. "To date, we are tracking ahead of the midpoint of our previously issued guidance, driven by further strengthening in our Aerospace & Electronics and Crane Currency markets, along with faster repayment of short-term debt," CEO Max Mitchell said in a statement. Crane shares fell 0.3% on Monday.

October is living up to its reputation as a volatile month for stocks with major indexes down sharply and there is likely more pain ahead for investors, according to one prominent Wall Street analyst.

Cryptocurrency prices trade mostly unchanged to begin the week.

The anniversary of Black Monday’s crash reminds us to be prepared for a precipitous decline in the stock market.

Uber Technologies Inc.’s head of corporate development, Cameron Poetzscher, has resigned less than a month after a Wall Street Journal article revealed allegations of prior sexual misconduct in the office, according to a person familiar with the matter. 

Shares of Cadence Design Systems Inc. rallied more than 8% in the extended session Monday after the software and engineering company reported third-quarter earnings above Wall Street expectations. Cadence said it earned $95 million, or 34 cents a share, in the third quarter, compared with $81 million, or 29 cents a share, in the same period in 2017. Adjusted for one-time items, Cadence earned $137 million, or 49 cents a share, compared with $98 million, or 35 cents a share, a year ago. Revenue rose to $526 million from $485 million a year ago. Analysts polled by FactSet had expected adjusted earnings of 41 cents a share on sales of $517 million. The company said it expects 2018 revenue between $2.113 billion and $2.123 billion, and adjusted per-share net income between $1.80 to $1.82 for the year. Cadence shares ended 1.3% higher on Monday.

U.S. stocks close mostly lower Monday, with the S&P 500 dropping for a fourth day in a row, as third-quarter earnings season picks up pace.