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CBWTF

Auxly Cannabis

$0.00

(0.00%)

, IMBBY

Imperial Brands

$0.00

(0.00%)

07:43
12/17/19
12/17
07:43
12/17/19
07:43

Auxly reports Imperial Brands exercises rights under subscription agreement

Auxly Cannabis Group (CBWTF) announced that Imperial Brands PLC (IMBBY) has exercised its pre-emptive right to subscribe for an aggregate amount of 6,315,574 common shares of Auxly for $5,207,110.94. By subscribing for the Purchased Shares, Imperial Brands shows its continued support in Auxly by maintaining its 19.9% ownership of the Company, following its initial investment of $123M by way of convertible debentures in a transaction announced July 25, 2019. Imperial Brands has subscribed for the Purchased Shares to maintain its pro rata ownership in Auxly as follows: 914,960 common shares at a subscription price of 91c per share; and 5,400,614 common shares at a subscription price of $0.81 per share, issuable to Imperial Brands; for the issuance of shares to non-executive employees and for the remaining 6% unsecured convertible debentures.

CBWTF

Auxly Cannabis

$0.00

(0.00%)

IMBBY

Imperial Brands

$0.00

(0.00%)

CBWTF Auxly Cannabis
$0.00

(0.00%)

IMBBY Imperial Brands
$0.00

(0.00%)

03/28/19
SBSH
03/28/19
UPGRADE
SBSH
Buy
Imperial Brands upgraded to Buy from Neutral at Citi
Citi analyst Adam Spielman upgraded Imperial Brands to Buy from Neutral and raised his price target for the shares to GBP 30 from GBP 27. The analyst believes organic revenue growth for tobacco companies will pick up this year as sales of next generation products accelerate. Further, the regulatory threat will probably move away from cigarettes, Spielman tells investors in a research note. He thinks an even greater focus on e-vapor cigarettes could be positive for both British American Tobacco and Imperial Brands.
05/28/19
SBSH
05/28/19
NO CHANGE
SBSH
Cigarette data from Nielsen 'dire,' industry data also 'very bad,' says Citi
Citi analyst Adam Spielman noted that Nielsen reported earlier today that cigarette industry volumes fell 11.2% in the four weeks ended May 18, noting that shares of Altria (MO), British American Tobacco (BTI) and Imperial (IMBBY) all fell following the "dire" data. Volumes in MSAi, the industry database that he regards as much more reliable than Nielsen, were down 6.4% in the same period, which Spielman said "is still a very bad figure, but it is a lot, lot better than the Nielsen one." Looking ahead, the analyst said he expects "gradually less bad" volumes in Nielsen in the rest of the year, though he noted that Altria has said it expects industry volumes to fall about 4%-5% this year and he forecasts a decline of about 6%. In late afternoon trading, Altria shares are down 4.5%, British American has declined over 4% and Philip Morris (PM) is down 5%.
08/27/19
SBSH
08/27/19
NO CHANGE
SBSH
Citi sees no antitrust reason to stop Philip Morris, Altria deal
Citi analyst Adam Spielman is surprised by the merger talks between Philip Morris (MO) and Altria Group (MO) but feels the deal is likely to go ahead as he sees no antitrust reason to stop it. With the combined company likely a stronger competitor, the potential deal is not a positive for both British American Tobacco (BTI) and Imperial Brands (IMBBY), Spielman tells investors in a research note.
09/12/19
SBSH
09/12/19
NO CHANGE
SBSH
E-vapor regulation to hit Juul hard, 'odd time' for merger talks, says Citi
The Trump Administration said yesterday that it will "clear" the market of all non-tobacco flavored e-vapor products, including mint and menthol, Citi analyst Adam Spielman tells investors in a research note. The analyst had hoped the rules would have little impact on Juul as it has stopped supplying fruit flavors to physical stores. However, Trump's proposal is likely to hit Juul hard, as about three-quarter of its volume is in mint, says Spielman. Further, he believes at least half of British American Tobacco's (BTI) and IImperial Brands' (IMBBY) e-vapor volumes in the U.S. will be banned under the new definition. This all reinforces that this is an "odd time" for Philip Morris (PM) and Altria Group (MO) to be in merger talks, contends Spielman. The analyst, who doubts Trump's announcement will affect the talks between the companies, says the future of tobacco regulation in the U.S. is unclear currently. "We can only assume the companies have chosen to talk now because they are very confident about the outcomes. We, by contrast, see plenty of risk," writes Spielman.

TODAY'S FREE FLY STORIES

STT

State Street

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Breaking Hot Stocks news story on State Street »

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FTSV

Forty Seven

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4.39 (11.94%)

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State Street

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Earnings
State Street reports Q4 EPS $1.73, consensus $1.69 »

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ICFI

ICF International

$92.60

-0.16 (-0.17%)

07:36
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ICF International management to meet with SunTrust »

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SPSC

SPS Commerce

$58.40

0.61 (1.06%)

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SPS Commerce rating change  »

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TSLA

Tesla

$513.41

-4.855 (-0.94%)

, BAC

Bank of America

$34.73

0.05 (0.14%)

07:35
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Options
Unusual call flow in option market yesterday »

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BAC

Bank of America

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0.05 (0.14%)

SIG

Signet Jewelers

$30.11

8.63 (40.18%)

NLOK

NortonLifeLock

$27.89

0.38 (1.38%)

CNP

CenterPoint Energy

$27.05

0.05 (0.19%)

CX

Cemex

$3.92

0.21 (5.67%)

SSYS

Stratasys

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0.83 (3.94%)

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HASI

Hannon Armstrong

$33.59

0.225 (0.67%)

07:34
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Conference/Events
Hannon Armstrong management to meet with Oppenheimer »

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ADSK

Autodesk

$192.41

1.62 (0.85%)

07:34
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Downgrade
Autodesk rating change  »

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CMG

Chipotle

$869.71

5.76 (0.67%)

07:33
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YUM

Yum! Brands

07:32
01/17/20
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Yum! Brands rating change  »

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ZEN

Zendesk

$84.64

0.62 (0.74%)

07:32
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Zendesk rating change  »

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CMCM

Cheetah Mobile

$3.92

-0.155 (-3.80%)

, RENN

Renren

$1.83

-0.07 (-3.68%)

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Hot Stocks
Cheetah Mobile names Thomas Jintao Ren as CFO, succeeding Vincent Jiang »

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Cheetah Mobile

$3.92

-0.155 (-3.80%)

RENN

Renren

$1.83

-0.07 (-3.68%)

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BCO

Brink's

$94.08

1.21 (1.30%)

07:32
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Brink's analyst commentary  »

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  • 06

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EFX

Equifax

$150.97

1.22 (0.81%)

07:31
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Hot Stocks
Equifax increasing ownership of Indian JV subsidiary to 100% »

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FLXN

Flexion

$17.82

-0.4 (-2.20%)

07:31
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Conference/Events
Flexion management to meet with BTIG »

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BL

BlackLine

$61.93

4.08 (7.05%)

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FC

Franklin Covey

$33.24

0.41 (1.25%)

07:27
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Conference/Events
Franklin Covey management to meet with Barrington »

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SLF

Sun Life Financial

$48.34

0.405 (0.84%)

, AFL

Aflac

$52.78

0.48 (0.92%)

07:27
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Sun Life Financial, Aflac, Primerica analyst commentary  »

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SLF

Sun Life Financial

$48.34

0.405 (0.84%)

AFL

Aflac

$52.78

0.48 (0.92%)

PRI

Primerica

$128.36

1.145 (0.90%)

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ES

Eversource

$87.73

0.43 (0.49%)

07:25
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Conference/Events
Eversource management to meet with KeyBanc »

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  • 22

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TXN

Texas Instruments

$130.17

1 (0.77%)

07:24
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  • 22

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TGNA

Tegna

$17.95

(0.00%)

07:23
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  • 20

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AUMN

Golden Minerals

$0.29

-0.0155 (-5.08%)

07:23
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Golden Minerals reports 'promising' results from Velardena properties in Mexico »

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  • 16

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NVO

Novo Nordisk

$61.29

-1.1 (-1.76%)

07:23
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Novo Nordisk's Ozempic approved by FDA for expanded CV risk reduction indication »

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BJ

BJ's Wholesale

$22.74

-0.315 (-1.37%)

07:22
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Syndicate
BJ's Wholesale 1.5M share Block Trade priced at $22.70 »

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  • 17

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GPS

Gap

$18.62

0.695 (3.88%)

07:22
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