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CGC

Canopy Growth

$18.85

-0.57 (-2.94%)

07:31
10/15/19
10/15
07:31
10/15/19
07:31

Canopy Growth sells 42M shares in Australian Cannabis for $6.3M

Canopy Growth has sold its 42,087,639 shares in Australian cannabis company AusCann Group Holdings, or AusCann, via an off market block trade at 15c per share for gross proceeds of $6.3M. The trade was facilitated by Canaccord Australia. The sale represents Canopy Growth's total 13.2% interest in AusCann. Marcel Bonn-Miller, Canopy Growth's Global Senior Director of Clinical Science, will continue to sit on the AusCann Board of Directors to facilitate future collaboration.

CGC Canopy Growth
$18.85

-0.57 (-2.94%)

10/11/19
10/11/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Crowdstrike (CRWD) downgraded to Sell from Neutral at Goldman Sachs with analyst Heather Bellini stating while CrowdStrike is very well positioned in the market for endpoint security, a "blue sky analysis" suggests this is likely priced in at current share levels. 2. Terex (TEX) downgraded to Underweight from Equal Weight at Barclays with analyst Adam Seiden expecting the rental equipment market to move from equilibrium to oversupplied by 2020. 3. Delta Air Lines (DAL) downgraded to Hold from Buy at Argus with analyst John Staszark saying that while Delta is among the best managed airlines, he thinks better returns are available elsewhere, as Delta is facing prospects for rising costs and slowing revenue growth. 4. PG&E (PCG) downgraded to Sell from Neutral at Citi with analyst Praful Mehta seeing a 75% chance of the stock going to zero after Judge Montali terminated PG&E's exclusive right to advance a plan of reorganization. 5. Canopy Growth (CGC) downgraded to Underperform from Hold at Jefferies with analyst Owen Bennett saying despite the recent selloff in shares, Canopy is the most expensive name across the cannabis space. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/14/19
GHSC
10/14/19
DOWNGRADE
GHSC
Neutral
Canopy Growth downgraded to Neutral from Buy at Seaport Global
10/14/19
GHSC
10/14/19
DOWNGRADE
GHSC
Neutral
Canopy, Hexo downgraded to Neutral as Seaport Global cuts cannabis estimates
Seaport Global analyst Brett Hundley lowered his sales and earnings forecasts for the conventional Canadian cannabis companies he covers as part of a broader reset of expectations for the Canadian cannabis space. As part of the broader changes, he downgraded Canopy Growth (CGC) and Hexo Corp. (HEXO), both to Neutral from Buy. Hundley has lowered his FY21 view for Canopy's revenue to $475.5M and his EBITDA forecast to ($75.1M), adding that he no longer feels confident in the company's potential to receive incremental equity warrant funding from Constellation (STZ) in the near-term. For Hexo, he now sees FY21 revenue of $121.7M and $0.2M in EBITDA. He expects market pricing to become "considerably more challenged" as industry production funnels into "a limited store set" in Canada, Hundley tells investors. He keeps a Buy rating on Aphria (APHA), making it his only Buy-rated conventional Canadian cannabis company, though he cut his price target on the stock to $8 from $13. Hundley has Neutral ratings on Aurora Cannabis (ACB) and Tilray (TLRY).
10/14/19
10/14/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Fastenal (FAST) downgraded to Market Perform from Strong Buy at Raymond James and to Equal Weight from Overweight at Stephens. 2. AMC Networks (AMCX) downgraded to Underperform from In Line at Evercore ISI with analyst David Joyce saying given his industry view of accelerating cord-cutting trends, the analyst views AMC's reward/risk tradeoff as unfavorable at current share levels. 3. Delta Air Lines (DAL) downgraded to Equal Weight from Overweight at Stephens with analyst Jack Atkins saying investors are "understandably frustrated" that despite a highly favorable operating environment this year, Delta is unable to more aggressively drive yields higher. 4. Toll Brothers (TOL) downgraded to Neutral from Positive at Susquehanna with analyst Jack Micenko saying the shares have outperformed the S&P and are now at the high end of their historical average forward P/E. 5. Canopy Growth (CGC) and Hexo (HEXO) downgraded to Neutral from Buy at Seaport Global. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

11:17
11/14/19
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

11:16
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Technical Analysis
NYSE market internals summary »

Volume is average for…

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11:15
11/14/19
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11:15
11/14/19
11:15
General news
Powell on changing policy: »

Powell on changing…

11:15
11/14/19
11/14
11:15
11/14/19
11:15
General news
Breaking General news story  »

4-Week Bill Auction to be…

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11/14/19
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General news
Breaking General news story  »

8-Week Bill Auction to be…

BA

Boeing

$362.00

-0.42 (-0.12%)

11:14
11/14/19
11/14
11:14
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11:14
Hot Stocks
Breaking Hot Stocks news story on Boeing »

Boeing moves to session…

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  • 14

    Nov

11:11
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11:11
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11:11
General news
3-Month Bill Announcement Offering Amount data reported »

3-Month Bill Announcement…

11:11
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11:11
General news
10-Yr TIPS Announcement CUSIP Number data reported »

10-Yr TIPS Announcement…

11:11
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11/14
11:11
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11:11
General news
10-Yr TIPS Announcement Offering Amount data reported »

10-Yr TIPS Announcement…

11:10
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11:10
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11:10
General news
6-Month Bill Announcement Offering Amount data reported »

6-Month Bill Announcement…

BMRN

BioMarin

$75.55

-0.54 (-0.71%)

11:07
11/14/19
11/14
11:07
11/14/19
11:07
Hot Stocks
BioMarin sees GAAP break-even or better in 2020 assuming Valoctocogene launch »

BioMarin Pharmaceutical…

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  • 07

    Dec

GILD

Gilead

$62.48

-0.85 (-1.34%)

11:05
11/14/19
11/14
11:05
11/14/19
11:05
Options
Gilead call volume above normal and directionally bullish »

Bullish option flow…

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  • 07

    Dec

11:05
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11:05
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11:05
General news
Powell:the day of reckoning could be "quite far off," »

Powell:the day of…

USO

United States Oil Fund

$12.05

0.09 (0.75%)

11:00
11/14/19
11/14
11:00
11/14/19
11:00
General news
Crude inventories for week of November 8 »

Crude oil inventories…

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AAPL

Apple

$263.91

-0.61 (-0.23%)

10:58
11/14/19
11/14
10:58
11/14/19
10:58
On The Fly
Maxim says sell Apple on concern about 2020 iPhone sales »

Maxim analyst Nehal…

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APD

Air Products

$237.81

0.17 (0.07%)

10:56
11/14/19
11/14
10:56
11/14/19
10:56
Periodicals
Breaking Periodicals news story on Air Products »

Lombard Odier's…

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10:55
11/14/19
11/14
10:55
11/14/19
10:55
General news
Powell: the U.S. is the star economy »

Powell: the U.S. is the…

OPTT

Ocean Power

$1.49

-0.005 (-0.33%)

10:55
11/14/19
11/14
10:55
11/14/19
10:55
Conference/Events
Ocean Power to host business news update conference call »

Conference call to…

03/08/13
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  • 14

    Nov

AAPL

Apple

$263.82

-0.7 (-0.26%)

, UBER

Uber

$25.97

-0.73 (-2.73%)

10:53
11/14/19
11/14
10:53
11/14/19
10:53
On The Fly
Apple downgrade, Uber upgrade among today's top analyst calls »

Check out today's top…

AAPL

Apple

$263.82

-0.7 (-0.26%)

UBER

Uber

$25.97

-0.73 (-2.73%)

KHC

Kraft Heinz

$31.79

-1.1 (-3.34%)

VZ

Verizon

$59.16

-0.25 (-0.42%)

T

AT&T

$38.93

-0.22 (-0.56%)

TMUS

T-Mobile

$77.04

-0.98 (-1.26%)

ATUS

Altice USA

$26.91

0.07 (0.26%)

BYND

Beyond Meat

$81.24

2.26 (2.86%)

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  • 18

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  • 04

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    Dec

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    Dec

  • 10

    Dec

  • 29

    Jan

  • 30

    Jan

10:50
11/14/19
11/14
10:50
11/14/19
10:50
General news
More Powell: the long expansions have been a function of getting inflation under control »

More Powell: the long…

VTGN

VistaGen Therapeutics

$0.34

-0.7449 (-68.65%)

10:45
11/14/19
11/14
10:45
11/14/19
10:45
Downgrade
VistaGen Therapeutics rating change  »

William Blair downgrades…

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CI

Cigna

$191.00

0.84 (0.44%)

10:45
11/14/19
11/14
10:45
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10:45
Options
Cigna call volume above normal and directionally bullish »

Bullish option flow…

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  • 20

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  • 09

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  • 06

    Feb

10:45
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10:45
General news
FX Action: USD-JPY »

FX Action: USD-JPY hit…

10:45
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11/14
10:45
11/14/19
10:45
General news
Breaking General news story  »

3-Month Bill Announcement…

10:45
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10:45
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10:45
General news
Breaking General news story  »

6-Month Bill Announcement…

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