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Canopy Growth Soars 29% as Constellation Brands Makes $3.8 Bln Strategic Investment in Company

Shares of Canopy Growth (CGC) surged by 29% intraday after the company and Constellation Brands (STZ) said Wednesday that they expanded their strategic partnership in a bid to position Canopy Growth as a global leader in cannabis production, branding, intellectual property and retailing. The alcoholic beverage company said that it will raise its ownership interest in Canopy Growth by acquiring […]

European Equity Benchmarks Close Sharply Lower; Mining, Automotive, Bank Stocks Saddle Markets

The broad-based major European indices closed lower in Wednesday trading as mining, automotive and bank stocks burdened the markets In economic news, the UK’s consumer prices index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.3% in July, unchanged from June 2018, while the consumer prices index (CPI) 12-month rate was 2.5% for the month, up from 2.4% […]

TIC Release Will Be Watched For Russians

TIC Release Will Be Watched For Russians

The June Treasury International Capital (TIC) flows data is due Wednesday at 4 pm ET. There will be scrutiny after Russian holdings “disappeared” from the May list of “Major Foreign Holder of Treasury Securities.” There has been much speculation that the Russians moved holdings into less identifiable accounts. In the June report Russia’s total security holdings plunged to $14.9 billion […]

Tribune Media May Review Assets, Make Acquisitions in Wake of Sinclair Deal Failure

Tribune Media (TRCO) could still explore a strategic review of some of its assets and start making acquisitions soon after killing its attempt to merge with Sinclair Broadcast Group (SBGI), S&P Global Ratings said on Wednesday. The agency raised its outlook on the Chicago-based broadcast and digital content company to stable from negative, while affirming its BB- issuer credit rating […]

CURO Group Holdings’ Price Target From Janney Boosted to $36 From $33

CURO Group Holdings’ Price Target From Janney Boosted to $36 From $33

CURO Group Holdings (CURO) received an increase to its price target Tuesday from Janney Montgomery Scott following the short-term credit provider’s late-Monday pricing of $690 million in senior secured notes, upsized from its previous plan to offer $675 million of the notes. Janney’s new price target on the stock is $36 per share, up from $33. This brings the target […]

US Treasury Prices Slightly Lower as Curve Flattening Resumes

US Treasury Prices Slightly Lower as Curve Flattening Resumes

US Treasury prices were slightly lower as curves resumed flattening after risk sentiment recovered somewhat as the Turkey panic subsided. This comes after US press secretary Sanders Monday said national security adviser Bolton met with Turkish ambassador Serdar Kilic at the White House. – Turkish Lira up about 4.4% with other EM currencies up as well (RUB, ZAR, MXN). – […]

Advance Auto Parts Beats Sales, Earnings Expectations as Outlook Bolstered for 2018

Advance Auto Parts Beats Sales, Earnings Expectations as Outlook Bolstered for 2018

Advance Auto Parts (AAP) reported better-than-expected results for its second quarter, with a turnaround in comparable store sales bringing a higher view for the aftermarket parts retailer’s full-year outcome. The Roanoke, Virginia-based company said net sales rose 2.8% in the second quarter to $2.33 billion, beating the consensus on Capital IQ for $2.26 billion. Adjusted earnings increased to $1.97 a […]