Market Insight Blog

SEC Reportedly Probing Altria's $12.8 Billion Stake in E-Cigarette Maker JUUL
The U.S. Securities and Exchange Commission (SEC) has launched an investigation into tobacco giant Altria's (NYSE: MO) stake in e-cigarette maker JUUL Labs, according to a report by The Wall Street Journal. SEC regulators are reportedly looking into whether or not Altria fully disclosed to its shareholders the risks associated with its investment in JUUL. In December 2018, Altria invested $12.8 billion for a 35% stake in JUUL in a deal that pegged the e-cigarette company's value at $38 billion. […]

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HEXO Stock Drops Following Analyst Downgrade
HEXO (NYSE: HEXO) was hit by an analyst downgrade on Friday. In a research note, investment bank Jefferies Financial Group shifted its recommendation on the stock to underperform from the previous hold. It also cut its price target on the shares nearly in half, from 1.90 Canadian dollars ($1.43) to CA$1 ($0.75). In the note, analyst Owen Bennett opines that sales forecasts for marijuana and cannabis products in Canada are too optimistic. He also feels that the profitability of Cannabis 2.0 […]

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Nasdaq Adds Marijuana Price Indexes to Its Platform
Would you like to monitor what cannabis is selling for in Canada? Well, for a price, Nasdaq Stock Market (NASDAQ: NDAQ) can now help you do just that. Cannabis Benchmarks, a unit of a privately held company called New Leaf Data Services, announced Friday morning that its three indexes of Canadian marijuana spot prices are now being disseminated through Nasdaq's proprietary GIDS information service. GIDS offers its products on a subscription basis. Its client base includes entities in the […]

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Why Teck Resources Stock Is Tanking Today
What happened Shares of Teck Resources (NYSE: TECK) had slumped more than 15% by 3 p.m. EST on Friday. Weighing on the Canadian mining company was its fourth-quarter results and outlook for 2020. So what Weak market conditions plagued Teck Resources during the fourth quarter. The mining company only hauled in 122 million Canadian dollars ($92 million), or CA$0.22 per share ($0.17), of adjusted profit. Not only was that well below the CA$500 million ($378 million), or CA$0.87 per share ($0.66), […]

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Why Agile Therapeutics Stock Is Falling Today
What happened After sharing the pricing information of a just-announced common stock offering, Agile Therapeutics (NASDAQ: AGRX), a clinical-stage biopharma focused on women's health, saw its stock fall 14% as of 3:22 p.m. EST on Friday. So what Agile announced on Thursday that it wanted to raise capital from a common stock offering. The company released the pricing details of the proposed offering today. Agile stated that it is selling 15 million shares of stock at $3 per share. The […]

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Why Appian Stock Is Plunging Today
What happened In response to the company announcing fourth-quarter 2019 results that missed the mark, shares of Appian (NASDAQ: APPN), a software-as-a-service company focused on low-code software, fell 21% as of 2:36 p.m. EST on Friday. So what Appian adopted a new accounting standard called ASC 606 in 2019 that makes its year-over-year comparisons a bit wonky. That's because ASC 606 alters the timing of revenue recognition when compared with its old accounting standard (called ASC 605), which […]

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A Plan to Use Blockchain to Stop Counterfeit Drugs Moves Forward
On Friday, the MediLedger Project -- a working group whose members include two dozen of the largest companies involved in healthcare -- submitted its final report to the Food and Drug Administration for a pilot project that will use blockchain to secure the pharmaceutical supply chain. The collaborative effort is a who's who of the healthcare industry, with participation from AmerisourceBergen (NYSE: ABC), Amgen (NASDAQ: AMGN), Eli Lily (NYSE: LLY), Gilead Sciences (NASDAQ: GILD), […]

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Could NVIDIA’s New Gaming Platform Cannibalize Its Gaming GPU Sales?
NVIDIA (NASDAQ: NVDA) recently launched its cloud gaming platform, GeForce Now, on PCs, Macs, Android devices, and Shield devices. The service, which comes in free and paid tiers, lets gamers play their games remotely on servers powered by NVIDIA's high-end GPUs. Unlike Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google Stadia, which requires gamers to repurchase games they may already own, GeForce Now allows them to play the games they already purchased on DRM platforms like Steam. The paid tier, […]

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ViacomCBS Reports a Loss While Trying to Expand into Streaming
Less than three months after Viacom and CBS completed a merger agreement, the new ViacomCBS (NASDAQ: VIAC) (NASDAQ: VIACA) is moving swiftly to make a big splash in video streaming. But the company just reported a loss for its first quarter since the transaction. The net loss of $0.44 per share was lower than analysts' estimates of $1.32, or $1.41 on an adjusted basis. That huge miss sent the shares crashing, but CEO Bob Bakish sees a bright future. During the fourth-quarter call, Bakish said, […]

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Why Century Aluminum Shares Are Climbing Today
What happened Shares of Century Aluminum (NASDAQ: CENX) opened up more than 10% on Friday after the aluminum producer reported better-than-expected fourth-quarter results and gave an optimistic outlook for the year. It's a tough market for metals companies, but Century management seems to think the worst has passed. So what After markets closed Thursday, Century reported a fourth-quarter loss of $0.09 per share, better than the consensus $0.17-per-share loss estimate, on revenue of $435.5 […]

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