10:27 a.m. Today10:27 a.m. June 14, 2021
Pipelines Can Profit from the Oil Boom. One to Buy and One to Sell.
Goldman Sachs analyst Michael Lapides says energy- infrastructure stocks can gain as oil prices stay strong and companies are able to transport more fuel.
5:30 a.m. Today5:30 a.m. June 14, 2021
Why Kinaxis Stock Is Due for a Resurgence
With the economy booming again—and global supply chains stretched to the breaking point—the software company’s shares look underpriced.
4:09 a.m. Today4:09 a.m. June 14, 2021
- By Ciara Linnane
Hexo shares slide almost 5% premarket after third-quarter earnings fall far short of estimatesHexo Corp. shares slid 4.8% in premarket trade Monday, after the Canadian cannabis company posted a wider-than-expected loss for its fiscal third quarter and revenue that fell short of estimates. Ottawa-based Hexo said its loss widened to C$20.7 million ($17 million), or 17 cents a share, in the quarter to April 30, from C$19.5 million, or 38 cents a share, a year ago. Revenue climbed to C22.7 million from C$22.1 million. The FactSet consensus was for a loss of 6 cents a share and revenue of C$34.5 million. "While this was a challenging quarter, we maintained our number one position in the beverage category and increased our net sales outside of Quebec by 169% over last year, including 14% sequential quarterly growth in Ontario, while continuing to maintain our number one position as the preferred supplier to Quebec," Chief Executive Sebastien St-Louis said in a statement. "Moving forward, we are committed to rebuilding our strain strategy and brand mix in the province of Quebec to ensure we meet consumer needs and maintain our dominant position in the province." Hexo announced its in late May with news that it is acquiring privately held Redecan for C$925 million in cash and stock. That comes after the February news of the purchase of Zenabis Global Inc. for C$235 million in stock, and earlier in May, it announced the acquisition of 48North Cannabis Corp. for C$50 million in stock. Hexo shares have gained 80% in the year to date, while the Cannabis ETF has gained 44% and the S&P 500 has gained 13%.
3:45 a.m. Today3:45 a.m. June 14, 2021
- By Ciara Linnane
Canadian cannabis company Cronos purchases option to acquire 10.5% stake in PharmaCann for $110.4 millionCronos Group Inc. said Monday it has purchased an option to acquire a 10.5% stake in U.S. cannabis company PharmaCann in a deal valued at $110.4 million. Under the terms of the deal, the option can be exercised upon various factors, including the status of U.S. federal cannabis legalization, as well as regulatory approvals, including in states where PharmaCann operates. PharmaCann has six production facilities and 23 dispensaries operating under the Verilife brand in six states, namely New York, Illinois, Ohio, Maryland, Pennsylvania and Massachusetts. "Our U.S. growth strategy focuses on delivering long term shareholder value by assembling a best-in-class brand and intellectual property portfolio and positioning to deploy our products in the U.S. market through investments and opportunities with U.S. leaders who share our vision and commitment to responsibly distributing disruptive cannabinoid products that improve people's lives," said Cronos CEO Kurt Schmidt in a statement. Cronos' U.S.-listed shares were slightly lower premarket, but have gained 28% in the year to date, while the Cannabis ETF has gained 41% and the S&P 500 has gained 13%.
5:30 p.m. June 13, 2021
- By Rachel Koning Beals
G-7 recommits to clean-energy funds owed to developing nations, gets serious about 2030 targetsThe Group of Seven most powerful nations on Sunday advanced their cooperation to thwart climate change as they aim to nearly halve their greenhouse-gas emissions by 2030 and made good on a late pledge to help developing nations pivot to cleaner energy.
8:56 a.m. June 13, 2021
Biden touts progress in restoring U.S. credibility following G-7 summitPresident Joe Biden on Sunday said the United States had restored its presence on the world stage as he used his first overseas trip since taking office to connect with a new generation of leaders from some of the world’s most powerful countries and more closely unite allies on addressing the coronavirus pandemic and China’s trade and labor practices.
6:25 a.m. June 12, 2021
Biden urges G-7 leaders to call out, compete with ChinaLeaders of the world's largest economies on Saturday unveiled an infrastructure plan for the developing world to compete with China's efforts, but the democracies didn't immediately agree on how to publicly call out Beijing, including for its forced labor practices.
3:00 a.m. June 12, 2021
A Robo-Advisor Bought Up These Vanguard ETFs
Investment advisor Betterment materially added to positions in Vanguard FTSE Developed Markets, Vanguard Total International Bond, and Vanguard Short-Term Inflation-Protected Securities.
2:55 p.m. June 11, 2021
Milking the Newest Meme Stock
Beneath the jokes about cows and the positive thoughts about its business model, the Reddit posters seem to be seeing Clean Energy Fuels as another opportunity for a short squeeze.
8:11 a.m. June 11, 2021
- By Joy Wiltermuth
Some Big Tech companies may 'do better if they're not connected at the hip,' says $9.5 billion fund managerThe world is in the 'early days of tech infusing itself in every industry, much deeper,' says Jonathan Curtis, portfolio manager at Franklin Equity Group.
8:06 a.m. June 11, 2021
G-7 summit's first order of business is commitment to global billion-dose vaccine donationBiden kicks off initiative with promise to supply 500 million doses of Pfizer vaccine to poorer countries through COVAX program.
4:19 a.m. June 11, 2021
Welcome to the No Bad News Stock Market
Didi IPO could value China’s ride-hauling giant at $70 billion, Moderna seeks FDA approval to vaccinate adolescents, cyberattacks continue as companies pay more ransom, and other news to start your day.
4:01 a.m. June 11, 2021
Behind the Trading Controversy at Robinhood and Other Brokers
Online brokers are under scrutiny for getting paid to carry out trades with particular firms. Here's how the system works and what investors need to know.
2:59 p.m. June 10, 2021
SEC Has Meme Trading and Bitcoin in Its Sights
Gary Gensler, the agency's chairman, suggests changes to market structure are coming.
11:11 a.m. June 10, 2021
- By Tonya Garcia
Hard seltzer consumption slows as consumers head back to barsUBS analysts say the decline could be temporary as more people develop a taste for the fizzy beverages.
10:26 a.m. June 10, 2021
- By Weston Blasi
See photos of the 'ring of fire' solar eclipse that captivated the world on ThursdayA 'ring of fire' solar eclipse illuminated the sky on Thursday and quickly became a trending topic
10:10 a.m. June 10, 2021
- By Tomi Kilgore
IM Cannabis stock rallies toward an 8-day win streak after bullish analyst callThe U.S.-listed shares of IM Cannabis Corp. rallied 3.2% in afternoon trading Thursday, putting them on track for an eighth straight gain, after a bullish call from Alliance Global Partners analyst Aaron Grey, saying the Israel-based cannabis company is an "international play" on legal cannabis. The stock, on track to close at a five-week high, has run up 36.86% during its win streak. Grey initiated coverage of the company with at buy rating and stock price target of $10, which is about 66% above current levels. He said he believes IM Cannabis is "particularly well positioned" to benefit from the growing Israeli medical cannabis market. "Additionally, we look for [IM Cannabis] to grow its business in the German medical market, with recent acquisitions positioning it in Canada's premium segment (and
allowing for exports, in time)." The stock is rallying despite broad weakness in the cannabis sector, as the Cannabis ETF dropped 1.7% with 26 of 32 equity components losing ground. Year to date, IM Cannabis shares have slumped 22.9% while the Cannabis ETF has soared 42.0% and the S&P 500 has gained 13.0%.
7:52 a.m. June 10, 2021
- By Barbara Kollmeyer
U.S. investors blew away the rest of the world with bitcoin gains in 2020. Here's one reason why.That classic investment move of selling high worked out well for bitcoin investors in the U.S. last year.
4:14 a.m. June 10, 2021
- By Tomi Kilgore
Moderna files for its COVID-19 vaccine to be granted emergency use in adolescentsModerna Inc. said Thursday that it has filed for Emergency Use Authorization (EUA) with the U.S. Food and Drug Administration for use of its COVID-19 vaccine in adolescents. Moderna's stock slipped 0.2% in premarket trading. In May, the biotechnology company said the vaccine efficacy in the nearly 2,500 participants aged 12 to less than 18 years who received its COVID-19 vaccine was when using the same case definition as in the Phase 3 study in adults. "We are encouraged that the Moderna COVID-19 vaccine was highly effective at preventing COVID-19 and SARS-CoV-2 infection in adolescents," said Chief Executive Stéphane Bancel. "We have already filed for authorization with Health Canada and the European Medicines Agency and we will file with regulatory agencies around the world for this important younger age population." The vaccine developed by Pfizer Inc. and BioNTech SE has already been granted EUA for adolescents. Moderna's stock has soared 108.1% year to date through Wednesday, while the Pfizer shares have gained 8.2% and the S&P 500 has advanced 12.3%.
3:59 a.m. June 10, 2021
- By Rachel Koning Beals
No major stock indexes are on a path to hit the 2°C Paris climate goal --- here's which market runs the hottestNo major stock indexes are currently on a pathway to hit the broadly used 2°C global warming target, much less the more aggressive 1.5° target that is increasingly pushed by environmental interests, according to a new report.
3:02 p.m. June 9, 2021
- By Thornton McEnery
Meme stocks stumble after GameStop discloses SEC probe into trading frenzyThe big meme stocks all took a hit in after-hours trading Wednesday as GameStop discloses SEC probe and willingness to fully cooperate with the regulator's inquiry.
2:31 p.m. June 9, 2021
Keystone XL pipeline project scuttled, in major win for environmentalistsThe sponsor of the Keystone XL crude oil pipeline said Wednesday it is pulling the plug on the contentious project after Canadian officials failed to persuade President Joe Biden to reverse his cancellation of its permit on the day he took office.
1:24 p.m. June 9, 2021
Keystone XL pipeline project scuttled, in major win for environmentalistsCanada’s TC Energy Corp. and the Albertan provincial government said Wednesday they would scuttle the Keystone XL oil pipeline project, bringing to an end a decadelong controversy over an effort to pipe more Canadian crude into the U.S.
12:44 p.m. June 9, 2021
Marqeta Stock Rises in Debut. The Valuation Is $17.3 Billion.
Shares of the payments processing company started trading on the Nasdaq under the ticker MQ.
11:55 a.m. June 9, 2021
- By Lina Saigol
DoorDash heads to Japan as food-delivery wars heat upMove will allow the U.S. food-delivery app to tap into “one of the most restaurant-dense countries in the world."
11:53 a.m. June 9, 2021
- By Callum Keown
Vaccinated and need a vacation? CDC relaxes guidance for Americans traveling to more than 100 countries.The CDC updated its country-by-country travel recommendations on Monday, allowing fully COVID-19 vaccinated Americans to visit a number of new countries, including France, Italy, Spain and Germany.
11:47 a.m. June 9, 2021
SEC Looking At Rules on Stock Trading, Chairman Says
Here's what you need to know to navigate the markets today.
7:41 a.m. June 9, 2021
What a 15% Global Minimum Corporate Tax Rate Means for the Stock Market
The answer is complicated, but investors in it for the long haul should think hard about putting their money in internet and pharmaceuticals companies.
7:28 a.m. June 9, 2021
DoorDash Bets on Japan as Food-Delivery Fight Intensifies
It’s one of the most restaurant-dense countries in the world. Now the biggest food-delivery company in the U.S. wants to capture a slice of it.
12:44 p.m. June 8, 2021
800 arrested in global sting that began by creating message app for crooksWhen the FBI dismantled an encrypted messaging service based in Canada in 2018, agents noticed users moving to other networks. Instead of following their tracks to rivals, investigators decided on a new tactic: creating their own service.
11:15 a.m. June 8, 2021
- By Barbara Kollmeyer
Since 2008, this has been the biggest signal for stock direction. Here's where it's telling investors to go now. Our call of the day says a single indicator is telling them which stock sectors are the best bet right now.
8:07 a.m. June 8, 2021
- By Joy Wiltermuth
Here's a breakdown of the trillions worth of pandemic stimulus already unleashed in the U.S.As the Biden administration makes a push for more infrastructure spending, here's a chart showing the flow of fiscal and monetary stimulus out of Washington and the Federal Reserve in the first 14 months of the pandemic.
7:19 a.m. June 8, 2021
Biden invites Ukrainian President Volodymyr Zelensky to visit White House this summerZelensky has publicly raised concerns about the U.S. president's plan to meet with Russian leader Vladimir Putin this month.
2:55 a.m. June 8, 2021
- By Tonya Garcia
Hexo to offset carbon emissions and plastics packaging by September 2021Hexo Corp. announced Tuesday its commitment to offsetting all of its operational carbon emissions and the carbon emissions of its 1,200 staff members, including powering their homes and food consumption, by September 2021. The cannabis company will also offset its plastic use through a partnership with Plastic Bank. With help from Offsetters, a Canadian carbon management company, Hexo will measure corporate carbon emissions from 2020, becoming carbon neutral by September. So far, in conjunction with its plastic packaging supplier Dymapak, the company has offset 63,000 kilograms of plastic in 2021. Hexo stock has rallied nearly 89% for the year to date while the S&P 500 index is up 12.5% for the period.
5:39 p.m. June 7, 2021
'It's horrific': 4 killed as driver intentionally plows into Muslim family near Toronto, police sayA driver plowed a pickup truck into a family of five, killing four of them and seriously injuring the other in a deliberate attack that targeted the victims because they were Muslims, Canadian police said Monday.
12:22 p.m. June 7, 2021
Pride Progresses in Unlikely Places: 10 Best Cities for LGBTQ Home BuyersWith home prices rising just about everywhere, it’s more important than ever to find places that are not only gay-friendly but also budget-friendly.
11:47 a.m. June 7, 2021
- By Tomi Kilgore
COVID-19 vaccines administered tops 300 million, as cases, deaths and hospitalizations keep fallingDr. Anthony Fauci, President Biden's chief medical adviser, confirmed that the U.S. will meet its goal of Americans receiving at least one dose of a COVID-19 vaccine by July 4, as new daily cases, deaths and hospitalizations have kept falling at a rapid pace.
8:49 a.m. June 7, 2021
Questions raised about G-7 landmark corporate tax dealCritics argue that the rate is too low, and that a loophole could allow Amazon to evade the tax.
4:13 a.m. June 7, 2021
Amazon’s Jeff Bezos Is Going to Space
Google agrees to settlement with French regulators, a divided Congress returns to work, more employers hiring teens as labor shortage continues, and other news to start your day.
3:51 a.m. June 7, 2021
- By Tomi Kilgore
Moderna submits for marketing approval of COVID-19 vaccine in adolescents in EuropeShares of Moderna Inc. rose 0.5% in premarket trading Monday, after the biotechnology company said it had submitted for conditional market approval (CMA) with the European Medicines Agency (EMA) for its COVID-19 vaccine in adolescents, ages 12 to less than 18. In May, the company said the Phase 2/3 study of its vaccine in adolescents met its primary immunogenicity endpoint. "We are encouraged that the Moderna COVID-19 vaccine was highly effective at preventing COVID-19 and SARS-CoV-2 infection in adolescents," said Chief Executive Stéphane Bancel. "We have filed for authorization with Health Canada and we will file for an Emergency Use Authorization with the U.S. FDA and regulatory agencies around the world for this important younger age population." Moderna's stock has soared 97.3% year to date through Friday, while the S&P 500 has gained 12.6%.