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CGC

Canopy Growth

$24.96

1.11 (4.65%)

12:25
01/15/20
01/15
12:25
01/15/20
12:25

Canopy Growth call volume above normal and directionally bullish

Bullish option flow detected in Canopy Growth with 72,315 calls trading, 3x expected, and implied vol increasing almost 10 points to 100.87%. Jan-20 25 calls and Jan-20 24 calls are the most active options, with total volume in those strikes near 16,900 contracts. The Put/Call Ratio is 0.27. Earnings are expected on February 14th.

CGC Canopy Growth
$24.96

1.11 (4.65%)

11/22/19
MKMP
11/22/19
NO CHANGE
MKMP
Canopy Growth, Aurora Cannabis profitability hard to achieve, MKM Partners says
MKM Partners analyst Bill Kirk remains cautious on Canadian Cannabis producers, saying that consensus expectations are still "high as a kite". The analyst notes that the sector has recently rebounded to "prior earnings level share prices", but believes that the assumption of "massive revenue growth with hardly any absolute cost growth" embedded in consensus is "very unlikely". Kirk cites fresh signs of cracks in the Canada market - namely that pricing is down, gaps to illicit aren't closing, and consumption per federal license is contracting - which suggests that the near-term path to profitability looks challenged. Kirk keeps his Neutral rating and CAD23 price target on Canopy Growth (CGC) and Sells rating with CAD3 price target on Aurora (ACB).
12/09/19
CANT
12/09/19
NO CHANGE
Target $18.9
CANT
Neutral
Cantor sees over 66% chance of Constellation bidding for Canopy Growth
Cantor Fitzgerald analyst Pablo Zuanic is surprised it has taken this long for Constellation Brands (STZ) to appoint a new CEO at Canopy Growth (CGC) following the exit of Bruce Linton. Pundits trying to read the tea leaves could make arguments both pro and con regarding whether the probability of a bid for the entire company by Constellation has increased or not, Zuanic tells investors in a research note. For his part, the analyst thinks the probability of Constellation trying to acquire Canopy has increased. However, he admits it is not an easy strategic decision for Constellation given its balance sheet, likely mid- to high-teens earnings dilution from a deal for the 65% of Canopy it does not own, and likely near-term hit to its own share price. Nonetheless, Zuanic assigns a more than two-thirds probability to Constellation putting in a bid for all of the Canopy Growth equity in the near term. On the argument of an improving outlook for the cannabis industry, Constellation could justify a deal, contends the analyst, who has a Neutral rating on Canopy Growth with a C$18.90 price target.
12/12/19
CANT
12/12/19
NO CHANGE
Target $27
CANT
Neutral
Canopy Growth price target raised to C$27 from C$18.90 at Cantor Fitzgerald
Cantor Fitzgerald analyst Pablo Zuanic raised his price target for Canopy Growth (CGC) to C$27 from C$18.90 and keeps a Neutral rating on the shares after meeting with management. The analyst assumes a C$31 potential takeover price and assigns a 65% probability to a deal happening. Constellation Brands (STZ) has confirmed it will contribute further cash to Canopy at some point via the outstanding warrants. However, it could take control of the company with less cash disbursement given the strike prices are up to three times above current levels, Zuanic tells investors in a research note.
01/10/20
ARGS
01/10/20
DOWNGRADE
ARGS
Hold
Constellation Brands downgraded to Hold from Buy at Argus
Argus analyst John Staszak downgraded Constellation Brands (STZ) to Hold from Buy following the company's quarterly results. In a research note to investors, Staszak says that despite a strong Q3, he thinks further upward revisions to guidance are "unlikely" in fiscal 2021 and he worries that beer sales could decelerate and divestitures in the wine and spirits division could continue to be a headwind. Additionally, he says the company's investment in Canopy Growth (CGC) reduced earnings in Q3 by 25c and should continue to pressure earnings amid a large number of competitors.

TODAY'S FREE FLY STORIES

BKR

Baker Hughes

$23.56

0.06 (0.26%)

13:04
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Baker Hughes reports U.S. rig count up 15 to 796 rigs »

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  • 22

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MDR

McDermott

$0.73

0.0119 (1.66%)

13:02
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01/17
13:02
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13:02
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McDermott announces start of commercial operation of Freeport LNG Train 2 »

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AMGN

Amgen

$240.69

0.17 (0.07%)

13:02
01/17/20
01/17
13:02
01/17/20
13:02
Recommendations
Amgen analyst commentary  »

Amgen raised prices today…

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  • 30

    Jan

BKR

Baker Hughes

$23.57

0.07 (0.30%)

13:01
01/17/20
01/17
13:01
01/17/20
13:01
Hot Stocks
Breaking Hot Stocks news story on Baker Hughes »

Baker Hughes reports U.S.…

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  • 22

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SNCA

Seneca Biopharma

$3.09

1.84 (147.20%)

12:59
01/17/20
01/17
12:59
01/17/20
12:59
Hot Stocks
Seneca Biopharma surges after saying talks starting with 'interested parties' »

Shares of micro-cap…

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AUPH

Aurinia Pharmaceuticals

$20.02

0.19 (0.96%)

12:45
01/17/20
01/17
12:45
01/17/20
12:45
Options
Aurinia Pharmaceuticals call volume above normal and directionally bullish »

Bullish option flow…

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12:45
01/17/20
01/17
12:45
01/17/20
12:45
General news
Breaking General news story  »

Week of 1/17 Baker-Hughes…

12:45
01/17/20
01/17
12:45
01/17/20
12:45
General news
Breaking General news story  »

Week of 1/17 Baker-Hughes…

DLAKY

Lufthansa

$0.00

(0.00%)

12:41
01/17/20
01/17
12:41
01/17/20
12:41
Periodicals
Lufthansa extends Tehran flight halt until March 28, Reuters reports »

Lufthansa said that…

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TM

Toyota

$139.71

-0.32 (-0.23%)

12:36
01/17/20
01/17
12:36
01/17/20
12:36
Hot Stocks
Toyota provides outline of production alignment through 2022 »

To "improve the…

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TM

Toyota

$139.71

-0.32 (-0.23%)

12:33
01/17/20
01/17
12:33
01/17/20
12:33
Hot Stocks
Toyota Indiana completes $1.3B modernization, adds 550 new jobs »

Toyota Indiana invested…

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12:30
01/17/20
01/17
12:30
01/17/20
12:30
General news
Treasury Dealer Agenda: the dealer meeting will be held on January 30, 31 »

Treasury Dealer Agenda:…

12:30
01/17/20
01/17
12:30
01/17/20
12:30
General news
Breaking General news story  »

Federal Reserve Board of…

12:30
01/17/20
01/17
12:30
01/17/20
12:30
General news
Breaking General news story  »

Federal Reserve Board of…

AXTA

Axalta Coating

$30.30

0.225 (0.75%)

12:25
01/17/20
01/17
12:25
01/17/20
12:25
Options
Axalta Coating call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
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  • 30

    Jan

12:25
01/17/20
01/17
12:25
01/17/20
12:25
Conference/Events
Federal Reserve Board of Governors Vice Chairman speaks at a meeting »

Randal Quarles, Vice…

MSFT

Microsoft

$165.58

-0.66 (-0.40%)

, WORK

Slack Technologies

$22.68

-0.28 (-1.22%)

12:23
01/17/20
01/17
12:23
01/17/20
12:23
Periodicals
Microsoft to launch global ad campaign for Teams, CNBC reports »

Microsoft (MSFT) will…

MSFT

Microsoft

$165.58

-0.66 (-0.40%)

WORK

Slack Technologies

$22.68

-0.28 (-1.22%)

IPG

Interpublic Group

$23.96

0.22 (0.93%)

03/08/13
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  • 29

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  • 12

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  • 25

    Feb

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
01/17/20
01/17
12:17
01/17/20
12:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
01/17/20
01/17
12:16
01/17/20
12:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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DIS

Disney

$144.95

-0.15 (-0.10%)

12:07
01/17/20
01/17
12:07
01/17/20
12:07
Periodicals
Disney dropping 'Fox' name from 21st Century Fox assets, Variety reports »

Disney is dropping the…

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  • 04

    Feb

TWOU

2U

$22.88

1.09 (5.00%)

12:06
01/17/20
01/17
12:06
01/17/20
12:06
Periodicals
2U mulls potential sale after activist pressure, Bloomberg reports »

2U has tapped advisers…

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AAPL

Apple

$315.89

0.56 (0.18%)

12:04
01/17/20
01/17
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12:04
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Apple announces overall deal with Julia Louis-Dreyfus for TV+ »

Apple has signed a…

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  • 28

    Jan

WMT

Walmart

$115.04

-0.85 (-0.73%)

12:00
01/17/20
01/17
12:00
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12:00
Hot Stocks
Walmart U.S. names Scott McCall incoming Chief Merchandising Officer »

Scott McCall is the…

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  • 21

    Jan

UGAZ

VelocityShares 3x Long Natural Gas ETN

$56.81

-5.14 (-8.30%)

12:00
01/17/20
01/17
12:00
01/17/20
12:00
Hot Stocks
VelocityShares 3x Long Natural Gas ETN falls -8.2% »

VelocityShares 3x Long…

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UNFI

United Natural Foods

$8.52

-0.81 (-8.68%)

12:00
01/17/20
01/17
12:00
01/17/20
12:00
Hot Stocks
United Natural Foods falls -8.8% »

United Natural Foods is…

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