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4:44 a.m. Sept. 21, 2021 - By Tonya Garcia
Chipotle adds smoked brisket to the menu for a limited timeChipotle Mexican Grill Inc. said Tuesday that it is adding smoked brisket to the menu for a limited time. The item is served with a brisket sauce made with smoky chili peppers. The item was highly requested by Chipotle customers and comes after a two-year process, including a test in Cincinnati and Sacramento in fall 2020. This is the third new menu item launched in 2021 after cilantro-lime cauliflower rice and quesadillas. Chipotle rewards members can order the item starting today. On September 23, it will be widely available in the U.S. and Canada. It will be available on third-party apps on September 27. Chipotle stock has run up 35.9% for the year to date while the S&P 500 index is up 16% for the period.
4:17 a.m. Aug. 31, 2021 - By Tomi Kilgore
Lightning eMotors stock surges after Collins Bus partnership to make all-electric school busesShares of Lightning eMotors Inc. shot up 7.9% in premarket trading Tuesday, after the all-electric powertrains and commercial vehicles company announced a partnership with REV Group Inc. subsidiary Collins Bus to make all-electric Type A school buses. REV Group's stock was still inactive ahead of the open. The companies expect to deploy more than 100 electric school buses in the U.S. and Canada over the next few years. The partnership includes an initial firm order commitment worth about $11 million over the next two years. "Electrifying school buses just makes sense. The environmental and health benefits are a no brainer," said Lightning eMotors Chief Revenue Officer Kash Sethi. "With predicable routes, dedicated overnight parking at school bus depots, fuel and maintenance savings, all-electric school buses now make a lot of operational and financial sense as well." Lightning's stock has rallied 12.3% over the past three months through Monday and REV shares have dropped 14.1%, while the S&P 500 has gained 7.7%.
9:49 a.m. Aug. 26, 2021 - By Tonya Garcia
DSW parent Designer Brands to offer frontline workers $200 bonus in SeptemberDesigner Brands Inc. said Thursday that it will invest $1.3 million in new frontline worker bonuses. More than 7,300 workers in the U.S. and Canada will receive $200 each on September 3. Designer Brands invested more than $2.3 million in worker bonuses in March. The company has also offered emergency pay to those workers needing time off due to COVID, closed stores on Thanksgiving and subsidized child care for more than 1,800 workers, among other benefits. Designer Brands' portfolio includes DSW and Shoe Warehouse, and the company produces shoes through Camuto Group, which designs for brands like Jessica Simpson footwear and Max Studio. Designer Brands stock has more than doubled, up 102.3% for the year to date. The benchmark S&P 500 index has gained 15.4% for the period.
2:52 a.m. Aug. 25, 2021 - By Tomi Kilgore
Organigram launches new 'SHRED'ems' lineup of cannabis-infused gummiesOrganigram Holdings Inc. announced Wednesday the launch of its "SHRED'ems" lineup of "high-quality and bold" cannabis-infused gummies. The parent of Canada-based cannabis producer Organigram Inc., said "SHRED'ems" adds to its value-priced "SHRED" portfolio. The company said the vegan-friendly "SHRED'ems" will be available in three flavors, Wild Berry Blaze (Hybrid), Sour Cherry Punch (Indica) and Sour Megamelon (Sativa). The company said gummies currently represent 74% of the edibles category. "The launch of SHRED'ems is a significant milestone for Organigram," said Chief Revenue Officer Tim Emberg. "As a company, we remain dedicated to developing industry-leading products that meet consumer needs, and the launch of SHRED'ems is the first of many new innovations we anticipate coming from our strategic acquisition of EIC." Organigram's stock, which shed 4.9% in premarket trading, has run up 99.3% year to date through Monday, while the Cannabis ETF has gained 17.8% and the S&P 500 has advanced 19.4%.
9:32 a.m. Aug. 23, 2021 - By Tonya Garcia
Pumpkin spice lattes heading back to the Starbucks menu on TuesdayFall is coming at Starbucks Corp. whether customers are ready or not. The pumpkin spice latte will be back on the menu in the U.S. and Canada starting Tuesday, along with the Pumpkin Cream Cold Brew. This is the 18th year that Starbucks has featured the PSL on its menu, with 500 million sold in the U.S. since 2003. And this is the 3rd year for the Pumpkin Cream Cold Brew, with more than 90 million sold. According to Starbucks, the Pumpkin Cream Cold Brew outsold the PSL last year. A pumpkin scone, pumpkin loaf and pumpkin cream cheese muffin are also heading to the food menu. For those who want to brew their own, Starbucks Reserve Vietnam Da Lat and Starbucks Reserve Costa Rica Naranjo are also coming. Coffee prices due to an unusual frost in Brazil, putting a further premium on a good cup of coffee. Starbucks shares are up 7.8% for the year to date while the S&P 500 index has gained 19.5% for the period.
5:20 a.m. Aug. 20, 2021 - By Tomi Kilgore
Hexo stock tumbles after $140 million share offering pricingThe U.S.-listed shares of Hexo Corp. tumbled 18.4% in premarket trading Friday, after the Canada-based cannabis company announced the pricing of its previously announced public share offering, in which the company raised $140 million. The company said it sold 47.46 million units in the offering, consisting of one share of common stock and one half of one common share purchase warrant, at $2.95 per unit. Each warrant will be exercisable to buy one common share at an exercise price of $3.45 for a period of five years. The stock's Thursday's closing price was $3.20. Plans for the offering were announced after Thursday's closing bell. A.G.P./Alliance Global Partners and Cantor Fitzgerald Canada were the lead underwriters of the offering. Hexo plans to use the proceeds from the offering to help pay for the Redecan acquisition. Hexo's stock has plunged 44.9% over the past three months through Thursday, while the Cannabis ETF has dropped 13.6% and the S&P 500 has gained 5.9%.
5:54 a.m. Aug. 18, 2021 - By Tonya Garcia
Whirlpool Canada launches first laundry detergent brand, SwashWhirlpool Canada, an affiliate of Whirlpool Corp. , said Wednesday that it has launched its first laundry detergent brand, Swash. The brand is focused on using less detergent, with a bottle-and-cap design to measure detergent more precisely and a concentrated formula. This is a new product category for Whirlpool, with the item available at retailers across Canada and online. Whirlpool stock has gained 23.3% for the year to date while the S&P 500 index is up 18.2% for the period.
2:58 a.m. Aug. 17, 2021 - By Tonya Garcia
Eli Lilly creates neuroscience and immunology business unitsEli Lilly & Co. announced Tuesday that it will split its Lilly Bio-Medicines division into two business units: Lilly Neuroscience and Lilly Immunology, effective September 5. Lilly Neuroscience will be led by Anne White, currently president of Lilly Oncology, now responsible for launched products and the unit's phase 3 portfolio in pain and neurodegeneration, including the potential launch of an Alzheimer's drug, donanemab. Loxo Oncology at Lilly Chief Executive Jacob Van Naarden will now add president of Lilly Oncology, bringing these business units together. Patrik Jonsson will be president of Lilly Immunology, leading launched products and the phase 3 portfolio in dermatology, gastroenterology and rheumatology in addition to serving as president of Lilly USA and chief customer officer. And Lilly International President Alfonso Zulueta will retire at the end of 2021 after more than 30 years. Ilya Yuffa, president of Lilly Bio-Medicines, will assume that role for all markets outside of the U.S. except for Canada. Eli Lilly shares have soared nearly 60% in 2021 while the benchmark S&P 500index has gained 19.3% for the period.
8:45 a.m. Aug. 16, 2021 - By Jaimy Lee
Moderna to supply Canada with up to 35 million doses of its COVID-19 vaccine every year through 2024Shares of Moderna Inc. were down 6.6% in trading on Monday after the company announced an updated supply deal for its COVID-19 vaccine with Canada. As part of the new terms, Moderna will supply up to 105 million doses and possibly its booster shot through 2024. This includes up to 35 million doses for each year. Moderna's stock has gained 247.4% so far this year, while the broader S&P 500 is up 18.9%.
6:15 a.m. Aug. 11, 2021 - By Tonya Garcia
Wendy's announces earnings beat, increased dividend and plans for more restaurants and delivery kitchensWendy's Co. stock rose 3.7% in Wednesday trading after the burger chain reported second-quarter earnings that beat expectations. Net income totaled $65.7 million, or 29 cents per share, up from $24.9 million, or 11 cents per share, last year. Adjusted EPS of 27 cents beat the FactSet consensus for 18 cents. Revenue of $493.3 million was up from $402.3 million and ahead of the FactSet consensus for $462.6 million. Global same-restaurant sales rose 17.4%, beating the FactSet consensus for a 15.8% rise. U.S. same-restaurant sales were up 16.1% while international same-restaurant sales grew 31.4%. The U.S. FactSet consensus was for a 14.1% increase. Wendy's has announced plans for a $10 million incremental spend on advertising for the breakfast menu in 2021, bringing the total for the year to $25 million. Wendy's restated its goal to make breakfast 10% of sales by 2022. The company also aims to open and operate 700 delivery kitchens in the U.S., Canada and U.K. with Reef Kitchens by 2025 after a test of eight kitchens in Canada proved successful. Cash obtained from a debt refinancing will fund a $100 million plan to add 80-to-90 new franchise locations between 2022 and 2025. Wendy's is increasing its quarterly dividend by 20% to 12 cents per share payable on September 15 to shareholders of record as of September 1. And the share buyback program has gotten authorization for an additional $70 million, bringing the total to $220 million. For 2021, Wendy's now expects global sales growth of 11% to 13%, and adjusted EPS of 79 cents to 81 cents. The FactSet consensus is for sales of $1.854 billion, suggesting growth of 6.9%, and EPS of 74 cents. Wendy's stock has risen 4.5% for the year to date while the S&P 500 index has gained 18.4% for the period.
7:01 a.m. Aug. 10, 2021 - By Tonya Garcia
Beyond Meat expands partnership with Pizza Hut for Beyond Pepperoni PizzaBeyond Meat Inc. said Tuesday that it has expended its partnership with Pizza Hut to offer plant-based Beyond Pepperoni topping. Beyond Pepperoni Pizza will be available starting today at nearly 70 locations across five U.S. markets: Albany, N.Y.; Columbus and Macon, Ga.; Houston, Tex.; and Jacksonville, Fl. Beyond Meat became a permanent addition to the last month, and expanded on the Pizza Hut menu in . Pizza Hut is part of the Yum Brands Inc. portfolio. Yum shares are up 23% for the year to date. Beyond Meat stock is up 1.7% for the period. And the S&P 500 index has gained 18%.
6:00 a.m. Aug. 10, 2021 - By Tomi Kilgore
Canadian National responds to Canadian Pacific's hostile bid for Kansas City Southern, calling it 'inferior'Canadian National Railway Co. called rival Canadian Pacific Railway Co.'s "inferior" to the terms of the CN-KCS merger deal, despite CP's call that its new bid was "superior." CN noted that was valued at $33.6 billion, including debt, while the bid CP submitted was valued at $31 billion. CP argued that a CP-KCS combination offers "significantly higher regulatory certainty" than a CN-KCS combination. CN responded by saying its merger deal is currently under review by the Surface Transportation Board (STB), following a comment period which resulted in "overwhelming support" from customers, suppliers, elected officials, organized labor, local communities and stakeholders. "CN and KCS' agreed transaction remains superior and the best option for both companies' stakeholders to deliver on a combination that will enhance competition and provide new servicing options for customers," CN said in a statement. CN shares rose 0.4% in morning trading, CP's stock fell 1.0% and KCS shares rallied 7.8%. Meanwhile, the Dow Jones Transportation Average ran up 1.2% and the Dow Jones Industrial Average tacked on 72 points, or 0.2%.
2:31 a.m. July 30, 2021 - By Ciara Linnane
SEC stops processing registrations for IPOs or other securities from Chinese companies amid Beijing crackdown: ReutersThe Securities and Exchange Commission has stopped processing registrations for U.S. initial public offerings or the sale of other securities by Chinese companies to give it time to craft new guidelines for investors to help them understand the risk of a regulatory crackdown by Beijing, citing people familiar with the matter. Chinese companies have raised a record of $12.8 billion in the year to date, Reuters reported, citing data from Refinitiv. But the flow of deals has slowed this month after Chinese regulators banned from signing up new users days after its U.S. IPO. Since then, the regulator has also make moves to rein in tech and private education companies. SEC commissioner Allison Lee said on Tuesday that Chinese companies listed on U.S. stock exchanges must disclose to investors the risks of the Chinese government interfering in their businesses as part of their regular reporting obligations.
3:51 a.m. July 12, 2021 - By Tonya Garcia
Nordstrom takes stake in Asos brands including TopshopNordstrom Inc. announced Monday that it has taken a minority interest in four brands run by online retailer Asos Topshop, Topman, Miss Selfridge and HIIT. Asos will continue to have creative and operational control of Topshop brands, but Asos and Nordstrom will have a shared ownership model. Nordstrom will have exclusive retail rights to Topshop and Topman in North America and be the only store selling the labels. Nordstrom has been the exclusive distributor for the two labels in the U.S. since 2012. Asos customers will be able to pick up their orders at Nordstrom and Nordstrom's Rack stores starting in the fall. The investment sets the stage for a broader alliance going forward, the companies say. Nordstrom shares have gained 15.4% for the year to date while the S&P 500 index is up 16.3% for the period.
4:28 a.m. July 7, 2021 - By Tomi Kilgore
Tilray completes first harvest of medical cannabis for distribution at German pharmaciesTilray Inc. said its Germany-based subsidiary Aphria RX GmbH has completed the first successful harvest of medical cannabis, which was cultivated in Germany, for distribution to pharmacies. Tilray's stock rose 0.4% in premarket trading. The Canada-based cannabis company said the harvest if the first cultivated at its indoor growing facility in Neumunster, Germany. The distribution was carried about by a distributor on behalf of the German Cannabis Agency. "Our harvest in Germany represents an important milestone in granting access to high-quality and trustworthy medical cannabis to patients and healthcare professionals in Germany," said Tilray's Chief Strategy Officer Denise Faltischek. Shares of Tilray, which is the world's largest cannabis company by revenue following the recent completion of its merger with Aphria, have soared 102.4% year to date through Tuesday, while the Cannabis ETF has rallied 33.1% and the S&P 500 has gained 15.6%.
3:25 a.m. June 29, 2021 - By Ciara Linnane
Tilray CEO seeks shareholder approval to increase stock and give it ammunition to make acquisitionsTilray Inc. Chief Executive Irwin Simon called on shareholders to support a proposal at the company's annual shareholder meeting that will allow the Canadian cannabis company to increase the number of authorized shares of common stock, enabling it to make acquisitions for growth. "Importantly, approval does not mean that the authorized shares will be issued, only that they are available if needed in pursuit of these important corporate initiatives to drive shareholder value,' Simon wrote in a letter to shareholders. Tilray has recently completed its merger with Aphria to create the biggest cannabis company in the world, measured by revenue. The company is also seeking to expand shareholder rights at a meeting scheduled for July 29. U.S.-listed shares were up 1.3% premarket and have gained 126% in the year to date, while the Cannabis ETF has gained 39% and the S&P 500 has climbed 14%.
12:26 p.m. June 28, 2021 - By Catey Hill
What it’s really like to retire on a Caribbean island — on $3,000 a month This Virginia couple retired to the Caribbean island of Bequia and opened an art galleryThis Virginia couple retired to the Caribbean island of Bequia and opened an art gallery.
3:22 a.m. June 24, 2021 - By Ciara Linnane
Canada Goose is going fur-free and will cease buying fur by year-endCanada Goose Holdings Inc. said Thursday it is committing to going fur-free and will stop buying fur by the end of 2021 and cease manufacturing with it no later than the end of 2022. "Our focus has always been on making products that deliver exceptional quality, protection from the elements, and perform the way consumers need them to; this decision transforms how we will continue to do just that," Chief Executive Dani Reiss said in a statement. Earlier this year, the maker of outdoor jackets launched a new, more sustainable parka called the Standard Expedition Parka, and launched new lightweight down jackets, called the Cypress and Crofton. The company said the parka generates 30% less carbon and uses 65% less water during production. The two jackets are made with recycled nylon. In 2019, Canada Goose announced its commitments to achieve net-zero carbon emissions and to reduce emissions by more than 80% from current levels by 2025. Shares were up 1.7% premarket and have gained 37% in the year to date, while the S&P 500 has gained 13%.
4:04 a.m. June 21, 2021 - By Tonya Garcia
L Brands to call new company Victoria's Secret & Co.L Brands Inc. announced Monday that Victoria's Secret & Co. will be the new name of the spun-off lingerie brand. L Brands is in the process of separating Bath & Body Works from Victoria's Secret to create . The company that Victoria's Secret is taking a new women-focused and inclusive direction with the creation of the VS Collective, a panel of brand ambassadors that includes soccer star and actor/producer Priyanka Chopras Jonas, and a new board that's majority women. Victoria's Secret & Co. will include Victoria's Secret Lingerie, PINK and Victoria's Secret Beauty. L Brands has set a goal for low-to-mid-single digit comp store growth in the U.S and Canada for the new Bath & Body Works company, high-single digit to mid-teens digital sales growth, and total sales growth of mid-to-high-single digits. L Brands stock has rallied 68.8% for the year to date while the benchmark S&P 500 index is up nearly 11% for the period.)
4:50 a.m. June 18, 2021 - By Ciara Linnane
Edesa Biotech shares jump 14% premarket after early review of COVID treatment finds it should continue trialEdesa Biotech Inc. shares jumped 14% premarket on Friday, after the Canadian biotech, which is listed on Nasdaq, said an interim review of its one-dose COVID-19 treatment candidate found it should continue the study as planned. Toronto-based Edesa said an independent data and safety monitoring board made that determination after an initial review of the first patients enrolled in its Phase 2/3 study evaluating the drug candidate as a treatment for hospitalized patients. "While it is not possible yet to draw conclusions, we are encouraged by the monitoring board's findings as well as the robust enrollment we have achieved to date," Edesa said in a statement. The company has filed a trial amendment with the U.S. Food and Drug Administration to streamline the U.S. protocol and align it with other jurisdictions. More than 370 patients are enrolled in the trial. The drug, called EB05, is a monoclonal antibody that Edesa believes can treat acute respiratory distress syndrome, which is one of the main causes of death from COVID. Edesa shares have gained 34% in the year to date, while the SPDR S&P Biotech ETF has fallen 4% and the S&P 500 has gained 12.4%.
4:41 a.m. June 15, 2021 - By Jaimy Lee
Ocugen's stock is up 14% after announcing manufacturing partner for experimental COVID-19 shotShares of Ocugen Inc. gained 14.3% in premarket trading on Tuesday after the company said it picked Jubilant HollisterStier, a privately held pharmaceutical contract manufacturer, to produce its still-investigational COVID-19 vaccine for the U.S. and Canada. The vaccine is not authorized or approved in either country at this time. Ocugen's stock is up 239.4% so far this year, while the broader S&P 500 has gained 13.3%.
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%.
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%.
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.
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%.
5:41 a.m. June 3, 2021 - By Tomi Kilgore
Ford stock rallies toward 5 1/2-year high after May sales data, showing a near tripling in EVsShares of Ford Motor Co. rallied 2.0% toward a 5 1/2-year high in morning trading Thursday, after the automaker said total U.S. sales in May rose 4.1 to 161,725 vehicles, as jumps SUV and electrified vehicle sales offset declines in truck and car sales. Meanwhile, retail sales fell 11.2%. SUV sales rose 48.6%, with Lincoln-brand SUV sales rising 24.3% and Ford SUV sales climbing 51.8%, with Expedition sales up 110.4%, Escape sales up 51.4% and Explorer sales up 2.1%. Truck sales dropped 11.6%, with F-Series sales dropping 29.2%, while Ranger sales rose 41.8% and Transit sales increased 55.1%. Car sales tumbled 62.4%, with Mustangs down 24.7% and Fusions down 85.4%. Electrified vehicle sales nearly tripled (up 184%) to reach a record 10,364 vehicles. "We have been receiving a massive number of reservations for our all-electric F-150 Lightning over the last two weeks -- totaling over 70,000 trucks," said Andrew Frick, vice president, Ford Sales U.S. and Canada. The stock, on track to close at the highest level since October 2015, has run up 72.9% year to date, while the S&P 500 has gained 11.2%.
5:20 a.m. June 3, 2021 - By Tomi Kilgore
GM stock jumps after call for first-half results to be 'significantly better' than expectedShares of General Motors Co. jumped 3.2% in premarket trading Thursday, after the automaker said it expects first-half 2021 financial results to be "significantly better" than previous guidance, given its "success" in dealing with the semiconductor shortage. GM also said it is taking steps to boost deliveries to dealers and customers in the U.S. and Canada "to meet strong customer demand" for its Chevrolet, Buick, GMC and Cadillac model vehicles. Production of the Chevrolet Silverado HD and GMC Sierra HD pickups will increase by about 1,000 trucks per month, starting in mid-July, while shipments of Chevrolet Colorado and GMC Canyon pickups will increase by about 30,000 vehicles from mid-May through the week of July 5. "The global semiconductor shortage remains complex and very fluid, but the speed, agility and commitment of our team, including our dealers, has helped us find creative ways to satisfy customers," said Phil Kienle, vice president, North America Manufacturing and Labor Relations. "Customer demand continues to be very strong, and GM's engineering, supply chain and manufacturing teams have done a remarkable job maximizing production of high-demand and capacity-constrained vehicles." The stock has run up 43.3% year to date, while the S&P 500 has gained 12.0%.
3:29 a.m. June 2, 2021 - By Jaimy Lee
Moderna signs deal to provide up to 466 million doses of its COVID-19 shot to UnicefShares of Moderna Inc. were down 0.2% in premarket trading on Wednesday after it announced a deal with Unicef to supply 34 million doses of its COVID-19 vaccine in the fourth quarter of 2021 and up to 466 million doses of its mRNA shot in 2022. Moderna's stock is up 76.7% for the year, while the broader S&P 500 has gained 11.8%. Results from the second interim analysis of the NIH-led Phase 1 study of the Moderna COVID-19 Vaccine in the 56-70 and 71+ age groups were published on September 29 in The New England Journal of Medicine. On November 30, 2020, Moderna announced the primary efficacy analysis of the Phase 3 study of the vaccine conducted on 196 cases. On November 30, 2020, the Company also announced that it filed for Emergency Use Authorization with the U.S.FDA and a Conditional Marketing Authorization (CMA) application with the European Medicines Agency. On December 18, 2020, the U.S. FDA authorized the emergency use of the Moderna COVID-19 Vaccine in individuals 18 years of age or older. Moderna has also received emergency (or other conditional, interim or provisional) authorization for use of its COVID-19 vaccine from health agencies in Canada, Israel, the European Union, the United Kingdom, Switzerland, Singapore, Qatar, Taiwan, the Philippines, Thailand, Brunei, Paraguay, Japan, South Korea and an Emergency Use Listing (EUL) from the World Health Organization (WHO). Initial data from Moderna's Phase 2 study in the U.S. showed that a single 50 µg dose of mRNA-1273 or mRNA-1273.351 given as a booster to previously vaccinated individuals increased neutralizing antibody titer responses against SARS-CoV-2 and two variants of concern, B.1.351 (first identified in South Africa) and P.1 (first identified in Brazil). A booster dose of mRNA-1273.351, the Company's strain-matched booster, achieved higher neutralizing antibody titers against the B.1.351 variant of concern than a booster dose of mRNA-1273. Safety and tolerability profiles following third dose booster injections of 50 µg of mRNA-1273 or mRNA-1273.351 were generally comparable to those observed after the second dose of mRNA-1273 in the previously reported Phase 2 and Phase 3 studies. A manuscript describing these preliminary results was submitted as a preprint to medRxiv and will be submitted for peer-reviewed publication upon completion of the multivalent mRNA-1273.211 booster arm. About Moderna
11:57 p.m. May 26, 2021 - By Barbara Kollmeyer
Tesla may pay upfront for chips amid global shortage: FTElectric-car maker Tesla has reportedly opened new fronts in the battle to secure chips amid an industry-wide shortage that includes paying in advance for those supplies and even buying its own plant. Tesla is specifically trying to secure chips with companies in Taiwan and South Korea, which make the newer generation models that it needs, but also the U.S., according to a , which cited industry sources. As for buying a plant outright, sources said those plans are in a much earlier stage, given such an endeavor could prove cost prohibitive. A spokesperson for Tesla could not immediately be reached for comment. The FT said a person familiar with chip giant Samsung's [s:kr: 005930] view on direct chip buying by companies said it has production lines for this purpose and would be open to discuss it further.
10:51 a.m. May 19, 2021 - By Tonya Garcia
Molson Coors to quadruple hard seltzer production in CanadaMolson Coors Beverage Co. said Wednesday that it will increase hard seltzer production in its Canadian facilities by 300%, between owned and third-party facilities. "Hard seltzers are fairly new in Canada, but Vizzy and Coors Seltzer have already proven to be hits," said Frederic Landtmeters, president of Molson Coors in Canada, in a statement. Molson's hard seltzers launched in Canada in March. The production move is part of a $100 million investment in the hard seltzer business, and will mostly go towards the Toronto brewery, which should be producing hard seltzer by winter 2022. Molson expanded its U.S. hard seltzer production by 400% in 2020. Molson's stock has climbed 21.7% for the year to date while the S&P 500 index is up 9% for the period.
3:43 a.m. May 17, 2021 - By Tonya Garcia
Pizza Hut adds Beyond Meat to the menu in CanadaPizza Hut and Beyond Meat Inc. said Monday that the plant-based meat alternative will be coming to Pizza Hut menus in Edmonton and the Greater Toronto Area (GTA). Restaurants in these regions will offer a limited-time three-item menu, each topped with Beyond Italian Sausage Crumble: a veggie pizza called The Great Beyond; Beyond Creamy Alfredo, a pasta dish; and an alfredo topped flatbread. Beyond Italian Sausage Crumble will also be available to add to any item on the Pizza Hut menu. Pizza Hut is part of the Yum Brands Inc. portfolio. Yum Brands shares are up nearly 10% for the year to date. Beyond Meat stock is down 16% for the period. And the S&P 500 index has gained 11.1% for the period.
2:40 a.m. May 17, 2021 - By Tomi Kilgore
Lion Electric stock surges after order for 260 all-electric school busesShares of Lion Electric Co. surged 6.0% in premarket trading Monday, after the Canada-based maker of zero-emission commercial trucks and buses announced an order for 260 all-electric buses from student transportation provider First Student. Deliveries of the buses will start in the second half of 2021 and will be completed in the first half of 2023. Financial terms were not disclosed. "Today marks a new step in the adoption of zero-emission school buses," said Lion Electric Chief Executive Marc Bedard. "First Student's leadership demonstrates that zero-emission technology is here to meet the needs of the market at scale, as is our production capacity -- we are not talking about pilot programs, but rather entire bus fleets going electric, with vehicles that meet the daily requirements of the industry's largest operators." Lion Electric's stock has dropped 15.1% year to date through Friday, while the S&P 500 has gained 11.1%.
5:13 a.m. May 13, 2021 - By Tomi Kilgore
Amazon hiring 75,000 people, at an average pay of more than $17 an hourAmazon.com Inc. said Thursday that it is hiring 75,000 people in the U.S. and Canada for work in its logistics and fulfillment network. The ecommerce and cloud giant said new hires will be paid an average of more than $17 an hour, and will receive sign-on bonuses of up to $1,000. The new hires will also receive an additional $100 if they show proof of COVID-19 vaccination. Amazon said its locations with the most job openings include Arizona, California, Colorado, Georgia, Illinois, Kentucky, Maryland, Minnesota, New Jersey, Pennsylvania, Tennessee, Washington and Wisconsin. The stock, which rose 1.2% in premarket trading, has slipped 3.2% year to date through Wednesday, while the Nasdaq Composite has edged up 1.1% and the S&P 500 has gained 8.2%.
12:16 p.m. May 10, 2021 - By Tonya Garcia
Mattel launches toy recycling programMattel Inc. said Monday that it has launched a toy recycling program, Mattel PlayBack, in which the company will accept used toys for recycling and reuse. Participants can print a shipping label on the PlayBack website and send the toy back to Mattel where it will be sorted and used for new toys. Right now, Mattel is accepting toys from the Barbie, Matchbox and MEGA brands. The program is available in the U.S. and Canada, as well as France, Germany and the U.K. through third-party partnerships. New brands will also be added. The program aims to help push the company towards 100% recycled, recyclable or bio-based plastic materials across all products and packaging by 2030. Mattel stock has gained 24.8% for the year to date while the S&P 500 index is up 12% for the period.
3:11 a.m. May 7, 2021 - By Tonya Garcia
Amazon to add five buildings and 2,000 workers in British ColumbiaAmazon.com Inc. said Friday that it will expand operations in British Columbia with new buildings and new workers. The e-commerce giant will add a fulfillment center, a sortation center and three delivery stations. The facilities, which will be spread across places like Vancouver and Delta, will be open later in 2021 and will create more than 2,000 jobs. Amazon already employs about 5,500 workers in British Columbia. Amazon stock is up 1.5% for the year to date while the S&P 500 index has gained nearly 12% for the period.
6:42 a.m. May 5, 2021 - By Jaimy Lee
Canada authorizes Pfizer's COVID-19 vaccine for kids between the ages of 12 and 15 years oldShares of Pfizer Inc. gained 2.5% in trading on Wednesday after Canadian regulators said they authorized using the company's COVID-19 vaccine for children between the ages of 12 and 15 years old. Pfizer developed the vaccine in partnership with BioNTech SE . Health Canada said in a news release that this is the first coronavirus vaccine that has been authorized for this age group. The vaccine is also expected to receive emergency-use authorization for the same age group in the U.S. sometime in the next week. Pfizer's stock has gained 8.3% since these start of the year, while the S&P 500 is up 11.6%. Health Canada received an application to expand the indication of Pfizer-BioNTech's COVID-19 vaccine on April 16, 2021. The vaccine was initially authorized for use in people 16 years of age and older on December 9, 2020.
2:25 a.m. May 3, 2021 - By Ciara Linnane
Canadian cannabis company Organigram says CEO Greg Engel is stepping down with immediate effectOrganigram Holdings Inc. said Monday that Chief Executive Greg Engel is stepping down from his role effective today and will act as special adviser to the board through a transition period. The Moncton, New Brunswick-based cannabis company said Peter Amirault, currently chairman of the board, will act as executive chair on an interim basis until a new permanent CEO has been appointed. Shares were down 0.9% premarket but have gained 99.6% in the year to date, while the Cannabis ETF has gained 47% and the S&P 500 has gained 11%.
3:48 a.m. April 20, 2021 - By Ciara Linnane
UPDATE: Cannabis stocks rally premarket after House passes SAFE Banking ActCannabis stocks rallied across the board in premarket trade Tuesday, with the Cannabis ETF up 4.6%, after the that do business with companies in states that have legalized the plant for medicinal or recreational purposes from federal enforcement action. The so-called SAFE Banking Act -- SAFE stands for Secure and Fair Enforcement -- aims to open up the federally insured banking system to cannabis companies, that have been starved of capital and forced to do much of their business in cash. The bill would exempt cannabis business transactions from being considered proceeds from illegal activity and subject to anti-money-laundering laws. It would also prohibit banking regulators from asking banks to terminate a customer account unless there was a valid reason aside from reputation risk. The bill last passed the House in 2019, only to die in the Senate. Its fate this time around in the Senate now under Democratic control is still unclear. Premarket gainers were mostly Canadian companies, even though with the exception of Canopy Growth Corp. , they are not expected to immediately benefit from U.S. cannabis law reforms. Tilray Inc. was up 3.8%, Aphria Inc. , with which it is merging, was up 2.2%. Canopy was up 1.6% and Cronos Group Inc. was up 1.2%. Shares of U.S. multistate operators were not yet active.
3:23 a.m. April 20, 2021 - By Tomi Kilgore
Kansas City Southern's stock soars after Canadian National's 'superior' bid valued at $33.7 blnShares of Kansas City Southern soared 19% toward a record in premarket trading Tuesday, after Canadian National Railway Co. announced what it called a "superior proposal" to acquire the railroad operator in a cash-and-stock bid valued at $33.7 billion. Plans for the buyout bid was . which would top Canadian Pacific Railway Ltd.'s previously agreed on buyout bid. Canadian National said its bid is valued at $325 for each Kansas City Southern share outstanding, a 27% premium to Monday's closing price of $256.40. Under terms of Canadian National's bid, Kansas City Southern shareholders would receive $200 in cash and 1.059 Canandian National shares for each Kansas City Southern share they own. In March, Kansas City Southern had in a deal valuing the stock at $275 each and the company at about $25 billion. Kansas City Southern's stock has run up 25.6% year to date through Monday, while the Dow Jones Transportation Average has advanced 18.3% and the Dow Jones Industrial Average has gained 11.3%.
3:30 a.m. April 12, 2021 - By Tomi Kilgore
Aphria stock falls after wider-than-expected loss, revenue misses as COVID-19 reduced demandThe U.S.-listed shares of Aphria Inc. dropped 7.6% in premarket trading Monday, after the Canada-based cannabis company reported a wider-than-expected fiscal third-quarter loss and revenue that rose less than forecast, citing reduced demand resulting from the COVID-19 pandemic. For the quarter ending Feb. 28, the company swung to a net loss of C$366.8 million ($292.7 million), or C$1.14 a share, from net income of C$5.0 million, or C$0.02 a share, in the year ago period. Excluding nonrecurring items, such as unrealized losses and gains on convertible debt, adjusted losses per share widened to 15 cents from 4 cents, compared with the FactSet consensus for a per-share loss of 5 cents. Revenue rose 6.4% to $C153.6 million ($122.6 million), but missed the FactSet consensus of C$161.3 million. "As a result of the ongoing effects of COVID-19, including provincial lockdowns and provincial boards taking measures to lower their inventory levels which had previously included forecasted cannabis market growth, the company experienced what it believes is a transitory reduction in demand during the quarter," the company said in a statement. The average retail selling price of adult-use cannabis fell to 11% to C$3.82 per gram, while the average retail selling price of medical cannabis slipped 3.9T to C$6.69 per gram. "We remain excited with the opportunities created for both Aphria shareholders and Tilray stockholders in completing our , and believe that together, we will create one of the strongest global cannabis and consumer packaged goods companies in the world," Chief Executive Irwin Simon said. Aphria's stock has soared 135.3% year to date through Friday, while the Cannabis ETF has rallied 57.4% and the S&P 500 has gained 9.9%.
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