Buy Texas Instruments before the company gives the ‘all clear:’ Cramer

Don’t wait for the “all clear” on semiconductor sales to make a bet on Texas Instruments, CNBC’s Jim Cramer said Wednesday. “The executives at Texas Instruments aren’t trying to help you time the semiconductor cycle,” the “Mad Money” host said. On the Tuesday earnings call, Texas Instruments reported its second consecutive quarter of declining sales. Tracking and trading Texas Instruments’ stock outside of that cycle helped Cramer pay his share of rent one summer in the 1980s as he studied for t


Don’t wait for the “all clear” on semiconductor sales to make a bet on Texas Instruments, CNBC’s Jim Cramer said Wednesday. “The executives at Texas Instruments aren’t trying to help you time the semiconductor cycle,” the “Mad Money” host said. On the Tuesday earnings call, Texas Instruments reported its second consecutive quarter of declining sales. Tracking and trading Texas Instruments’ stock outside of that cycle helped Cramer pay his share of rent one summer in the 1980s as he studied for t
Buy Texas Instruments before the company gives the ‘all clear:’ Cramer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: tyler clifford
Keywords: news, cnbc, companies, stock, sales, reached, instruments, qualcomm, clear, cramer, cycle, buy, gives, company, semiconductor, texas, apple


Buy Texas Instruments before the company gives the 'all clear:' Cramer

Don’t wait for the “all clear” on semiconductor sales to make a bet on Texas Instruments, CNBC’s Jim Cramer said Wednesday.

The semiconductor manufacturer has posted slowing chip sales in recent quarters, and said Tuesday it does not expect demand for chips to improve in 2019. Meanwhile, its shares reached a 52-week high during the session after beating earnings estimates by 13 cents in the last quarter.

“The executives at Texas Instruments aren’t trying to help you time the semiconductor cycle,” the “Mad Money” host said. “They’re just trying to run the business, and that’s a very different thing.”

When an investor waits until he or she gets the green light to pull the trigger, the easy money will have already been made by the time it comes.

Instead, the wise move would be to do some homework and get ahead on the stock while the share price is less expensive.

But it won’t be necessary for the company to confirm that the slowdown has ended, Cramer said. On the Tuesday earnings call, Texas Instruments reported its second consecutive quarter of declining sales. The host said the chip cycle typically lasts as many as five quarters before turning around.

Tracking and trading Texas Instruments’ stock outside of that cycle helped Cramer pay his share of rent one summer in the 1980s as he studied for the New York bar exam.

Following Texas Instruments’ conference call, the stock rose $6 before giving up those gains and more after CFO Rafael Lizardi did not give that “all clear,” Cramer said. He said that was a moment to buy call options on Texas Instruments, and he still thinks the stock is a steal at its closing price above $118 per share.

“If you wait for the cycle to actually turn, you will be way too late,” he said. “Yet, lots of people were desperate for verification from management so they dumped the stock when they didn’t get it. That’s a huge mistake.”

“Oh, and talk about the need to be ahead: Lam Research told you last quarter a bottom could be in hand for semiconductor equipment. It crushed the numbers tonight,” he added.

Cramer said the same logic applied to Apple. The stock was sitting at about $140 in early January when the iPhone maker was laboring to transform itself into a subscription services business and its now-settled royalties dispute with Qualcomm was heating up.

Shares of Apple closed north of $207 on Wednesday after making steady gains throughout the year. A large chunk of the increase came before it reached an agreement with Qualcomm more than a week ago.

Cramer said investors had to be willing to take a chance and buy Apple before the deal was made in order to reap the profits, especially because Apple did not have a 5G plan without Qualcomm’s chips.

“When the two companies reached a settlement last week, [Qualcomm stock] exploded higher — it’s still going higher — but Apple’s stock also rallied about 7 bucks,” he said. “Now, if you had waited until after the settlement, you missed some incredible moves. The big money was made before you got the all clear.”

The same principle applies to recent runs in Disney, Chipotle, and Home Depot, Cramer said.

Shares of Texas Instrument closed Wednesday at $118.43, up more than 25% from the start of the year.

“The early bird gets the worm, people,” Cramer said. “And, in this case, the early bird is the one who knows you need to buy a stock before the underlying business turns around, while the other birds are still cowering in their nests waiting for the call that will always leave them late for dinner.”

Disclosure: Cramer’s charitable trust owns shares of Apple, Walt Disney, Home Depot, and Lam Research.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: tyler clifford
Keywords: news, cnbc, companies, stock, sales, reached, instruments, qualcomm, clear, cramer, cycle, buy, gives, company, semiconductor, texas, apple


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Walgreens to raise tobacco buying age to 21 in September amid FDA pressure

The FDA put Walgreens “on notice” in February, accusing the pharmacy chain of violating rules that prohibit selling cigarettes and other tobacco products to underage buyers. Walgreens, the FDA noted, is currently the top violator among pharmacies that sell tobacco products. Some 22 percent of Walgreens locations inspected by the agency caught employees illegally selling tobacco products to minors, the FDA said. Starting Sept. 1, it will require customers to be at least 21 years old in order to b


The FDA put Walgreens “on notice” in February, accusing the pharmacy chain of violating rules that prohibit selling cigarettes and other tobacco products to underage buyers. Walgreens, the FDA noted, is currently the top violator among pharmacies that sell tobacco products. Some 22 percent of Walgreens locations inspected by the agency caught employees illegally selling tobacco products to minors, the FDA said. Starting Sept. 1, it will require customers to be at least 21 years old in order to b
Walgreens to raise tobacco buying age to 21 in September amid FDA pressure Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: angelica lavito, christopher dilts, bloomberg, getty images
Keywords: news, cnbc, companies, selling, buying, pressure, fda, age, 21, raise, walgreens, products, cigarettes, tobacco, buy, amid, policies


Walgreens to raise tobacco buying age to 21 in September amid FDA pressure

Walgreens is increasing the age to buy tobacco at its drugstores to 21 later this year as the retailer faces possible sanctions from the Food and Drug Administration for allegedly selling to minors.

The FDA put Walgreens “on notice” in February, accusing the pharmacy chain of violating rules that prohibit selling cigarettes and other tobacco products to underage buyers. Walgreens, the FDA noted, is currently the top violator among pharmacies that sell tobacco products. Some 22 percent of Walgreens locations inspected by the agency caught employees illegally selling tobacco products to minors, the FDA said.

Walgreens has tightened its policies in response. Starting Sept. 1, it will require customers to be at least 21 years old in order to buy tobacco products.

For more on investing in health-care innovation, click here to join CNBC at our Healthy Returns Summit in New York City on May 21.

“We’ve seen positive results from other recent efforts to strengthen our policies related to tobacco sales, and believe this next step can be even more impactful to reduce its use among teens and young adults,” Richard Ashworth, Walgreens president of operations, said in a statement.

A dozen states have already raised the minimum buying age and a handful of others are exploring similar action. Senate Majority Leader Mitch McConnell last week said he would introduce federal legislation sometime next month, marking the strongest support yet in Congress for what’s been dubbed “T21.”

CVS Health stopped selling tobacco products in 2014. Walgreens has tested a few tobacco-free stores but has stuck behind giving consumers the option to buy cigarettes, e-cigarettes and other products if they choose.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: angelica lavito, christopher dilts, bloomberg, getty images
Keywords: news, cnbc, companies, selling, buying, pressure, fda, age, 21, raise, walgreens, products, cigarettes, tobacco, buy, amid, policies


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10 of the best places to buy a home instead of renting

More Americans are renting than at any point in the past 50 years, thanks in part to rising home prices. But there are a few parts of the country where it might make more financial sense to buy. Overall, the report concludes, it’s still more expensive to buy than rent in most parts of the country — and, in fact, rising home prices are outpacing rent increases, which could induce even more prospective buyers to keep renting instead. Homes in these areas cost, on average, $120,000, or 60% less tha


More Americans are renting than at any point in the past 50 years, thanks in part to rising home prices. But there are a few parts of the country where it might make more financial sense to buy. Overall, the report concludes, it’s still more expensive to buy than rent in most parts of the country — and, in fact, rising home prices are outpacing rent increases, which could induce even more prospective buyers to keep renting instead. Homes in these areas cost, on average, $120,000, or 60% less tha
10 of the best places to buy a home instead of renting Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: alicia adamczyk
Keywords: news, cnbc, companies, buying, report, rising, rent, instead, monthly, past, places, renting, country, prices, median, best, buy


10 of the best places to buy a home instead of renting

More Americans are renting than at any point in the past 50 years, thanks in part to rising home prices. But there are a few parts of the country where it might make more financial sense to buy.

“The monthly costs of buying a home are cheaper than renting in 20% of counties” with populations over 100,000, according to Realtor.com’s Q1 2019 Rent vs. Buy report, which compared the monthly median costs of both to the median incomes of people in 3,143 U.S. counties.

Overall, the report concludes, it’s still more expensive to buy than rent in most parts of the country — and, in fact, rising home prices are outpacing rent increases, which could induce even more prospective buyers to keep renting instead. The median-priced home’s monthly cost increased 6% from last year to $1,593, compared to a 4% increase in rent to $1,319 per month.

But that isn’t the case everywhere. Below are 10 of the largest counties in the country, many in the Midwest and the South, where buying a home can actually be the better deal. Homes in these areas cost, on average, $120,000, or 60% less than the national median of $300,000, per the report.

Realtor.com also notes that, over the past year, prices increased in all of these places except Bay County, Michigan, so even here, buying may not be better for long.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: alicia adamczyk
Keywords: news, cnbc, companies, buying, report, rising, rent, instead, monthly, past, places, renting, country, prices, median, best, buy


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Why the Japanese don’t buy American cars

But industry observers chalk the admittedly glaring disparity up to the unique characteristics of the Japanese auto market: American firms don’t really make cars that suit Japanese tastes, Americans have not invested in a dealership presence in the country, and many Japanese consumers have a persistent, if outdated, idea that American vehicles are unreliable and inefficient. Roughly 40 percent of the cars sold in Japan are a special class of extra small cars call Kei cars. Although U.S. autos ar


But industry observers chalk the admittedly glaring disparity up to the unique characteristics of the Japanese auto market: American firms don’t really make cars that suit Japanese tastes, Americans have not invested in a dealership presence in the country, and many Japanese consumers have a persistent, if outdated, idea that American vehicles are unreliable and inefficient. Roughly 40 percent of the cars sold in Japan are a special class of extra small cars call Kei cars. Although U.S. autos ar
Why the Japanese don’t buy American cars Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: robert ferris
Keywords: news, cnbc, companies, japan, japanese, jeep, cars, small, market, dont, american, sold, vehicles, brands, buy


Why the Japanese don't buy American cars

You stand very little chance of seeing an American car on a Japanese road, but if you do, there is a good chance it is a Jeep Wrangler.

While Japanese brands fill U.S. roads and parking lots, American automakers have all but given up on selling cars in Japan — despite the fact that it remains the world’s third-largest car market.

President Donald Trump has called it unfair, as has the American Automotive Policy Council, which represents the three big U.S. auto manufacturers: General Motors, Ford and Fiat Chrysler.

But industry observers chalk the admittedly glaring disparity up to the unique characteristics of the Japanese auto market: American firms don’t really make cars that suit Japanese tastes, Americans have not invested in a dealership presence in the country, and many Japanese consumers have a persistent, if outdated, idea that American vehicles are unreliable and inefficient.

Roughly 40 percent of the cars sold in Japan are a special class of extra small cars call Kei cars. Nearly all of those are sold by Japanese brands, such as Suzuki and Daihatsu. Japan is a crowded country, and drivers like the convenience and efficiency of small vehicles that are easy to maneuver on narrow streets or fit into tight parking spaces.

“In Japan, there is a different market and different consumer,” said Kristin Dziczek, vice president of industry, labor & economics at the Center for Automotive Research. Although U.S. autos aren’t taxed going into Japan, American cars aren’t made for Japanese consumers. “We are giving them our off-cast, things we make for the North American consumer that we hope we can then sell in other markets.”

Japanese automakers are so adept at serving their home turf that about 95 percent of the cars on Japanese roads are Japanese makes. Imports make up the balance, and most of those are European luxury vehicles or sports cars.

Mercedes-Benz, BMW and Volkswagen, including Audi, all sell tens of thousands of cars in Japan each year. While that is still a pretty small number compared with the overall local market and other major markets, it isn’t nothing, said Tokyo-based CLSA analyst Christopher Richter.

American carmakers “don’t really try,” Richter said. Ford left Japan entirely in 2017. GM sold only about 700 cars there in 2018.

The trouble for American brands is that it is tough to compete against comparable Japanese vehicles without differentiating themselves in some way, he said.

That is perhaps what accounts for the popularity of Fiat Chrysler’s Jeep brand. Almost invariably, the Jeeps that Richter sees in Japan are Wranglers, which is the model perhaps most emblematic of the brand and the rugged, outdoor American lifestyle it symbolizes. The Jeep brand has a strikingly strong image abroad, said Rebecca Lindland, an independent auto analyst.

“If you think about some of the most powerful, well respected, and well-liked brands in that world, I would say Jeep is a dark horse in that race,” she said.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: robert ferris
Keywords: news, cnbc, companies, japan, japanese, jeep, cars, small, market, dont, american, sold, vehicles, brands, buy


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Staples stocks are at 52-week highs, but there’s still time to buy, experts say

Consumer staples are moving upwards, here are the ETFs to watch 5 Hours Ago | 02:36Investors are doubling down on the market’s staples. The Consumer Staples Select Sector SPDR Fund, widely known by its ticker, XLP, hit a new 52-week high on Monday, a more than 18% climb from its lows in December. Even so, Nadig still sees opportunities, particularly in U.S.-based consumer staples ETFs. But if you ask ETF expert Reggie Brown, who is senior managing director of Cantor Fitzgerald’s ETF group, inves


Consumer staples are moving upwards, here are the ETFs to watch 5 Hours Ago | 02:36Investors are doubling down on the market’s staples. The Consumer Staples Select Sector SPDR Fund, widely known by its ticker, XLP, hit a new 52-week high on Monday, a more than 18% climb from its lows in December. Even so, Nadig still sees opportunities, particularly in U.S.-based consumer staples ETFs. But if you ask ETF expert Reggie Brown, who is senior managing director of Cantor Fitzgerald’s ETF group, inves
Staples stocks are at 52-week highs, but there’s still time to buy, experts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lizzy gurdus
Keywords: news, cnbc, companies, experts, stocks, little, investors, staples, think, theres, group, xlp, highs, etf, consumer, 52week, nadig, high, buy, say


Staples stocks are at 52-week highs, but there's still time to buy, experts say

Consumer staples are moving upwards, here are the ETFs to watch 5 Hours Ago | 02:36

Investors are doubling down on the market’s staples.

The Consumer Staples Select Sector SPDR Fund, widely known by its ticker, XLP, hit a new 52-week high on Monday, a more than 18% climb from its lows in December. The move was fueled by stronger-than-expected quarterly earnings from Kleenex parent Kimberly-Clark, which could set the rest of the group up for a good week of reporting.

Still, Dave Nadig, managing director of ETF.com, is encouraging investors to be careful with this group, which many see as a safe haven in the stock market.

“I think ‘new highs’ is a relative term,” he said Monday on CNBC’s “ETF Edge.” “We’re only up 12, 13% in this space. This is far from the high-flying segment.”

And with industry giants Procter & Gamble and Coca-Cola — which account for more than 25% of the XLP — reporting later this week, that’s “a lot of concentration” to discount at the moment, Nadig said.

Even so, Nadig still sees opportunities, particularly in U.S.-based consumer staples ETFs.

“I’m still a believer that we’re in a global slowdown environment, [so] I’d rather stick to the U.S.,” he said. “I think it’s a little more understandable, a little more controllable. I would go with equal-weight here because I think that that concentration … could help you. If P&G really blows the doors off, you’ll want that exposure. But I think, long term … the smaller names are doing as well as the bigger names. Why not give yourself a little bit of short-term diversification?”

Alternative plays with exposure to the automotive space could also serve investors well, Nadig said.

But if you ask ETF expert Reggie Brown, who is senior managing director of Cantor Fitzgerald’s ETF group, investors’ moves this earnings season will ultimately boil down to two factors.

“Investors love earnings and outcomes,” he said in the same “ETF Edge” interview. “So I think you’re seeing a drive into the sector based on performance of the underlying companies and, as you know, ETFs represent performance of underlying stocks. So you’re seeing investors want to have exposure.”

The XLP flattened after reaching its 52-week high in Monday’s trading session, hovering in the $56 range. The Invesco S&P 500 Equal Weight Consumer Staples ETF, its equally weighted counterpart, also hit a 52-week high.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lizzy gurdus
Keywords: news, cnbc, companies, experts, stocks, little, investors, staples, think, theres, group, xlp, highs, etf, consumer, 52week, nadig, high, buy, say


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Even 30% of older, wealthier millennials had help paying for their first home

It’s no secret that many millennials are struggling to buy homes, especially without help. Even, it turns out, older, wealthier millennials. Nearly one in three older millennials with over $100,000 to invest say they received financial assistance from their parents in order to buy their first home. That’s according to investment company Ameriprise, which surveyed 453 older millennials, classified here as those ages 30 to 37, and 3,000 adults total, all of whom had at least $100,000 in investable


It’s no secret that many millennials are struggling to buy homes, especially without help. Even, it turns out, older, wealthier millennials. Nearly one in three older millennials with over $100,000 to invest say they received financial assistance from their parents in order to buy their first home. That’s according to investment company Ameriprise, which surveyed 453 older millennials, classified here as those ages 30 to 37, and 3,000 adults total, all of whom had at least $100,000 in investable
Even 30% of older, wealthier millennials had help paying for their first home Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: megan leonhardt, -marcy keckler, vp of financial advice strategy at ameriprise fina
Keywords: news, cnbc, companies, 30, help, paying, ameriprise, 100000, millennials, say, older, financial, parents, buy, vice, wealthier


Even 30% of older, wealthier millennials had help paying for their first home

It’s no secret that many millennials are struggling to buy homes, especially without help. Even, it turns out, older, wealthier millennials.

Nearly one in three older millennials with over $100,000 to invest say they received financial assistance from their parents in order to buy their first home. By contrast, only 15% of comparable Baby Boomers say they had a boost from their parents when making that purchase.

That’s according to investment company Ameriprise, which surveyed 453 older millennials, classified here as those ages 30 to 37, and 3,000 adults total, all of whom had at least $100,000 in investable assets. While this was not a large sample of millennials, and respondents were wealthier than average, other studies have found similar results.

“There is more financial support into adulthood than what past generations experienced,” Marcy Keckler, vice president of Financial Advice Strategy at Ameriprise Financial, tells CNBC Make It.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: megan leonhardt, -marcy keckler, vp of financial advice strategy at ameriprise fina
Keywords: news, cnbc, companies, 30, help, paying, ameriprise, 100000, millennials, say, older, financial, parents, buy, vice, wealthier


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Sen. Majority Leader McConnell to introduce bill to raise the minimum age to buy tobacco to 21

In 2018, the number of high school students using tobacco products increased by about 38%, the CDC found in its annual National Youth Tobacco Survey. In response, local and state governments have pushed up the age to buy tobacco products to 21. A dozen states have already raised the minimum buying age and New York and Maryland are expected to join them soon. Lawmakers in McConnell’s home state of Kentucky rejected a state bill earlier this year to raise the minimum buying age. Tobacco giants Alt


In 2018, the number of high school students using tobacco products increased by about 38%, the CDC found in its annual National Youth Tobacco Survey. In response, local and state governments have pushed up the age to buy tobacco products to 21. A dozen states have already raised the minimum buying age and New York and Maryland are expected to join them soon. Lawmakers in McConnell’s home state of Kentucky rejected a state bill earlier this year to raise the minimum buying age. Tobacco giants Alt
Sen. Majority Leader McConnell to introduce bill to raise the minimum age to buy tobacco to 21 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: angelica lavito, joshua roberts
Keywords: news, cnbc, companies, mcconnell, minimum, bill, altria, 21, legislation, leader, products, buy, age, tobacco, strongly, raising, buying, majority, raise, introduce, sen


Sen. Majority Leader McConnell to introduce bill to raise the minimum age to buy tobacco to 21

In 2018, the number of high school students using tobacco products increased by about 38%, the CDC found in its annual National Youth Tobacco Survey. The agency blamed the increase on e-cigarettes. Use of the products by high school students surged nearly 78%.

In response, local and state governments have pushed up the age to buy tobacco products to 21. A dozen states have already raised the minimum buying age and New York and Maryland are expected to join them soon. Even more states are considering legislation. At least 450 cities and counties have enacted T21 laws, according to the Campaign for Tobacco-Free Kids.

Yet even with McConnell behind the bill, some conservative lawmakers are sure to oppose the measure. Lawmakers in McConnell’s home state of Kentucky rejected a state bill earlier this year to raise the minimum buying age. Sen. Richard Burr, R-N.C., recently blasted the Food and Drug Administration for pursuing a ban on menthol cigarettes.

Tobacco giants Altria, British American Tobacco and e-cigarette maker Juul have all thrown their weight behind raising the minimum buying age. Altria CEO Howard Willard and Juul CEO Kevin Burns have both urged legislation in recent op-eds. Altria started running “T21” ads earlier this month in The Washington Post, The Wall Street Journal and other newspapers.

“Altria strongly supports raising the legal age of purchase for all tobacco products, including e-vapor, to 21. This is the most effective action to reverse rising underage e-vapor usage rates. Now is the time to move to 21 and we welcome Senator McConnell’s leadership on this important issue,” Willard said Thursday in a statement.

“We commend Senator McConnell for announcing this legislation as we strongly support raising the purchasing age for all tobacco products, including vapor products, to 21 and have been actively supporting legislation to do this at the federal level and in states across the country,” Burns said in a statement Thursday.

Burns said this type of legislation can help restrict youth access by preventing products being shared between legal-age and underage peers.

“We support Senator McConnell’s efforts to raise the national minimum purchase age to 21 as an effective means of keeping tobacco products out of middle and high schools, where many youth obtain the products, especially vapor, from friends between the ages of 18 and 21,” BAT said Thursday.

A 2015 National Academy of Medicine study concluded that increasing the minimum buying age would reduce the number of teens who get hooked on nicotine and therefore save lives.

A spokesman for the Campaign for Tobacco-Free Kids said while the group “strongly supports” raising the minimum tobacco buying age, it wants to “make sure it is a strong bill that is free of special interest provisions that benefit the tobacco industry.”

He warned that some proposals have included provisions that prohibit things like flavor bans, which e-cigarette makers strongly oppose.

Shares of Altria slid about 2% and British American Tobacco dipped about 1%. Juul is privately held.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: angelica lavito, joshua roberts
Keywords: news, cnbc, companies, mcconnell, minimum, bill, altria, 21, legislation, leader, products, buy, age, tobacco, strongly, raising, buying, majority, raise, introduce, sen


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Weed giant Canopy Growth closing in on deal to buy Acreage Holdings

Canadian cannabis giant Canopy Growth is close to a deal to purchase Acreage Holdings — the latest in a string of deals in the fast-growing industry. Sources also told CNBC that Canopy had been looking at deals with other U.S.-based operators, in addition to Acreage. For its part, Canopy Growth remains one of the largest players in the burgeoning cannabis industry. In its most recent earnings report, Canopy said it sold 10,102 kilograms of pot and equivalents in the three months ended December 2


Canadian cannabis giant Canopy Growth is close to a deal to purchase Acreage Holdings — the latest in a string of deals in the fast-growing industry. Sources also told CNBC that Canopy had been looking at deals with other U.S.-based operators, in addition to Acreage. For its part, Canopy Growth remains one of the largest players in the burgeoning cannabis industry. In its most recent earnings report, Canopy said it sold 10,102 kilograms of pot and equivalents in the three months ended December 2
Weed giant Canopy Growth closing in on deal to buy Acreage Holdings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: thomas franck, tom franck
Keywords: news, cnbc, companies, largest, growth, closing, giant, industry, acreage, canopy, sources, weed, operators, deal, told, million, cannabis, recent, buy, holdings


Weed giant Canopy Growth closing in on deal to buy Acreage Holdings

Canadian cannabis giant Canopy Growth is close to a deal to purchase Acreage Holdings — the latest in a string of deals in the fast-growing industry.

The two companies have been in talks for about two weeks and were scheduled to speak on the phone Wednesday evening to finalize the agreement, sources familiar with the matter told CNBC’s Melissa Lee. Sources also told CNBC that Canopy had been looking at deals with other U.S.-based operators, in addition to Acreage.

Shares of Canopy rallied more than 10% in after hours trading Wednesday following the news. Neither company was immediately available to comment.

Acreage Holdings, one of the largest vertically integrated, multistate cannabis operators in the U.S., has attracted attention on Wall Street in part thanks to John Boehner, former speaker of the U.S. House of Representatives and a director at the company.

For its part, Canopy Growth remains one of the largest players in the burgeoning cannabis industry. With a market cap of about $14 billion, Canopy has drawn attention for its partnership with Corona beer maker Constellation Brands. It’s also announced plans to locate a hemp operations in New York State with the help of a recent acquisition of cannabis research company, Ebbu.

In its most recent earnings report, Canopy said it sold 10,102 kilograms of pot and equivalents in the three months ended December 2018. It’s also introduced new products such as oral sprays and pre-rolled joints made by its custom-built, proprietary automated cannabis rolling machines.

As of September, Canopy had 4.3 million square feet of licensed capacity in Canada, which it is expanding to 5.6 million. That represents about 35% of industry capacity, according to industry analysts.

This story is developing. Please check back for updates.


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: thomas franck, tom franck
Keywords: news, cnbc, companies, largest, growth, closing, giant, industry, acreage, canopy, sources, weed, operators, deal, told, million, cannabis, recent, buy, holdings


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Stocks making the biggest moves premarket: Goldman Sachs, CVS, Best Buy, Facebook & more

Goldman also increased its quarterly dividend to 85 cents per share from 80 cents a share. Waste Management — Waste Management is buying smaller rival Advanced Disposal Services for $3 billion or $33.15 per share in cash. Best Buy — Best Buy named chief financial officer Corie Barry as its next CEO, effective at the annual meeting on June 11. Wells Fargo — Wells Fargo was downgraded to “neutral” from “buy” at Goldman Sachs and removed from the “Conviction Buy” list. CORRECTION: This article has


Goldman also increased its quarterly dividend to 85 cents per share from 80 cents a share. Waste Management — Waste Management is buying smaller rival Advanced Disposal Services for $3 billion or $33.15 per share in cash. Best Buy — Best Buy named chief financial officer Corie Barry as its next CEO, effective at the annual meeting on June 11. Wells Fargo — Wells Fargo was downgraded to “neutral” from “buy” at Goldman Sachs and removed from the “Conviction Buy” list. CORRECTION: This article has
Stocks making the biggest moves premarket: Goldman Sachs, CVS, Best Buy, Facebook & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: peter schacknow
Keywords: news, cnbc, companies, moves, biggest, morgan, billion, buy, facebook, financial, company, share, ceo, goldman, drug, stocks, sachs, premarket, dollar, making, cvs


Stocks making the biggest moves premarket: Goldman Sachs, CVS, Best Buy, Facebook & more

Check out the companies making headlines before the bell:

Goldman Sachs — The investment bank reported quarterly profit of $5.71 per share, beating the consensus estimate of $4.89. Revenue fell short of forecasts, however. Goldman also increased its quarterly dividend to 85 cents per share from 80 cents a share.

Waste Management — Waste Management is buying smaller rival Advanced Disposal Services for $3 billion or $33.15 per share in cash. That represents a 22 percent premium over Advanced Disposal’s Friday closing price.

CVS Health — Oppenheimer downgraded CVS to “perform” from “outperform,” citing near-term legacy business challenges and its opinion that the execution of the company’s strategy is more of a longer term opportunity for investors.

Catalent — Catalent announced a deal to buy closely held Paragon Bioservices for $1.2 billion in cash. The contract drug manufacturer will expand its presence in gene therapy drugs with the acquisition of Paragon.

Best Buy — Best Buy named chief financial officer Corie Barry as its next CEO, effective at the annual meeting on June 11. Current CEO Hubert Joly will move to the newly created role of executive chairman.

Facebook — Former White House chief of staff Erskine Bowles and Netflix CEO Reed Hastings will be leaving the Facebook board later this year. The company announced that neither would stand for re-election later this year after serving on the board since 2011.

Anheuser-Busch InBev — The beer brewer has added Citigroup and Bank of America to its roster of banks working on a $5 billion Asian initial public offering, according to Reuters. Morgan Stanley and JPMorgan Chase area already participants in the deal.

Lyft — The ride-hailing service is recalling several thousand electric bikes in three cities due to some braking issues. The recall affects bicycles in New York, Washington, and San Francisco.

Levi Strauss — The jeans company was rated “overweight” in new coverage at J.P. Morgan Securities and “outperform” at Telsey. J.P. Morgan said the company has a mature brand multiyear growth drivers in place, while Telsey notes a “position of strength” as Levi Strauss returns to the public markets.

American Airlines — The airline extended cancellations of flight’s involving Boeing’s 737 Max jet through August 19, affecting about 115 flights per day.

Alliance Data — The marketing company’s Epsilon unit will be bought by French advertising giant Publicis for $4.4 billion, in a move by Publicis to expand its North American presence.

Walmart, Kroger — Walmart and Kroger were among retail companies sent letters by the Food and Drug Administration asking for a plan of action to prevent the sale of tobacco products to minors. Dollar Tree’s Family Dollar unit and retail stores run by Chevron and Exxon Mobil were also among those cited.

Apple — Apple is spending “hundreds of millions” of dollars on new video games for its upcoming Arcade subscription service, according to a report in the Financial Times.

Clovis Oncology — Clovis is discontinuing trials for a drug that targets bladder cancer, after a review of data showed that the drug may not provide a meaningful clinical benefit.

Wells Fargo — Wells Fargo was downgraded to “neutral” from “buy” at Goldman Sachs and removed from the “Conviction Buy” list. Goldman questions the bank’s ability to meet near-term and long-term financial targets.

Caesar’s Entertainment — Caesar’s will name Affinity Gaming Chief Executive Officer Anthony Rodio as its next CEO and will evaluate takeover interest in the casino operator, according to The Wall Street Journal.

CORRECTION: This article has been updated to show that Family Dollar is owned by Dollar Tree, not Dollar General.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: peter schacknow
Keywords: news, cnbc, companies, moves, biggest, morgan, billion, buy, facebook, financial, company, share, ceo, goldman, drug, stocks, sachs, premarket, dollar, making, cvs


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Best Buy names Corie Barry as its new CEO, Hubert Joly to become board’s executive chairman

Hubert Joly, who is Best Buy’s current board chairman and CEO, will become executive chairman of the board, a newly created position, the company said. Barry will also join the board of directors, which will now expand to 13 directors, Best Buy said. Best Buy shares were last down less than 1 percent Monday morning following the news. Best Buy said Joly will continue to advise on certain “key matters” like mergers and acquisitions, and relationships with outside companies. Best Buy shares as of


Hubert Joly, who is Best Buy’s current board chairman and CEO, will become executive chairman of the board, a newly created position, the company said. Barry will also join the board of directors, which will now expand to 13 directors, Best Buy said. Best Buy shares were last down less than 1 percent Monday morning following the news. Best Buy said Joly will continue to advise on certain “key matters” like mergers and acquisitions, and relationships with outside companies. Best Buy shares as of
Best Buy names Corie Barry as its new CEO, Hubert Joly to become board’s executive chairman Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: lauren thomas
Keywords: news, cnbc, companies, chairman, company, buy, hubert, board, barry, executive, joly, chief, boards, ceo, officer, corie, best, names, retailers


Best Buy names Corie Barry as its new CEO, Hubert Joly to become board's executive chairman

Best Buy on Monday said Corie Barry, currently the company’s chief financial and strategic transformation officer, will become its new chief executive officer, effective June 11, making her the first woman ever to serve in this role.

Hubert Joly, who is Best Buy’s current board chairman and CEO, will become executive chairman of the board, a newly created position, the company said.

It said the changes are part of the retailer’s board’s “ongoing succession planning process” and are meant “to provide leadership continuity.” Barry will also join the board of directors, which will now expand to 13 directors, Best Buy said.

“Corie has played a critical role in developing and executing the proven growth strategy in place today, and I am confident she has the vision, skills, experience and leadership capabilities necessary to be our CEO,” Joly said in a statement.

Best Buy shares were last down less than 1 percent Monday morning following the news.

There’s some fear on Wall Street that Joly’s stepping down could mean Best Buy’s latest momentum will slow.

But the two executives tried to soothe those concerns during a call with members of the media.

“I think what we have put in place here is a genuinely well-thought out succession,” Barry said. One where the retailer’s board is “deeply involved” and Joly will still be sitting at headquarters “literally right across the hall” from her.

Joly joined Best Buy in 2012 and roughly two years ago laid out a plan for the consumer electronics company to help it achieve a turnaround, at a time when many retailers were figuring out how to incorporate e-commerce into their businesses. He pivoted the company to focus on its in-home advising service, technology as a health-care business and growing partnerships with tech behemoths including Amazon.

Joly has helped Best Buy achieve same-store sales growth for the past eight quarters. In the latest fiscal year, the company said it had already achieved the financial targets it set for fiscal 2021.

“Today’s technology and consumer landscape creates tremendous opportunities for Best Buy to further expand and deepen relationships with our customers and employees, while continuing to deliver shareholder value,” Bary said in a statement. “I am deeply honored to have been selected as Best Buy’s next CEO and look forward to working closely with Hubert.”

Best Buy said Joly will continue to advise on certain “key matters” like mergers and acquisitions, and relationships with outside companies. He’s also expected to help Barry with areas like government affairs and community relations, the company said.

Best Buy also on Monday announced that, effective June 11, current U.S. chief operating officer Mike Mohan will be promoted to president and COO, while the company conducts an internal and external search for a new CFO.

Best Buy shares as of Friday’s market close had climbed nearly 40 percent so far this year.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: lauren thomas
Keywords: news, cnbc, companies, chairman, company, buy, hubert, board, barry, executive, joly, chief, boards, ceo, officer, corie, best, names, retailers


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