The Green Organic Dutchman Holdings Ltd. said Friday it is planning to reduce its financing needs while maintaining a path to profitability, as it struggles with a slower legal market conversion than originally expected. The Toronto-based cannabis company said earlier in October that it was reviewing financing options for the funds needed to complete construction
Gildan Activewear Inc. stock plummeted 26.1% in Friday trading after the apparel company issued a profit warning, cut its guidance, and was downgraded to hold from buy at Stifel. Analysts also cut their price target to $30 from $44. Gildan said it expects to report earnings per share of 51 cents for the third quarter
Shares of Snap Inc. are up 1.3% in Friday morning trading after Bank of America Merrill Lunch analyst Justin Post upgraded the stock to buy from neutral. He said that Wall Street “appears to be concerned on high 3Q [daily-active-user] growth expectations” but that he’s less concerned given his projection for strong international Android downloads
KushCo stock falls after Benchmark downgrade on concerns vaping-related lung illness will hurt sales
Benchmark downgraded the shares of Californian cannabis company KuschCo Holdings Inc. to speculative buy from buy on Friday, and said it expects the still unexplained vape-related lung illness that has killed at least 33 people and sickened 1,479 more to weigh on financial performance. Analyst Mike Hickey cut his stock price target to $5 from
Caterpillar stock downgraded at Morgan Stanley on ‘increasing downside risks’ heading into next year
Caterpillar Inc. was downgraded by Morgan Stanley analyst Courtney Yakavonis, who cited signs of “increasing downside risks” to the machinery and heavy equipment maker’s construction and energy and transportation (E&T) businesses. Yakavonis cut the rating to equal weight, after being at overweight since March 2018, and lowered the stock price target to $145 from $150.
US stocks on Friday headed slightly lower but benchmarks were set to post a second straight week of gains on quarterly corporate results that have thus far come in better than expected. The Dow Jones Industrial Average off 45 points, or 0.2%, at 26,982 was weighed by a decline in shares of Johnson & Johnson
Shares of Johnson & Johnson swung to a 2.6% decline in premarket trading Friday, after the consumer products and drug company said it was recalling “a single lot” of Johnson’s Baby Powder after tests revealed traces of chrysotile asbestos. The stock was trading up about 0.2% ahead of the recall announcement. The company said it
Shares of Kansas City Southern shot up 4.9% toward a record high in premarket trading Friday, after the railroad company reported a rise in profit and revenue to above analysts’ expectations, fueled by increased refined fuel products and liquid petroleum gas shipments to Mexico. Net income increased to $180.1 million, or $1.81 a share, from
Gentex Corp. shares fell 2.1% in premarket trade Friday, after the supplier of digital vision, connected car, dimmable glass and fire protection technologies beat estimates for the third quarter but cut guidance for its full year. Zeeland, Michigan-based Gentex said it had net income of $111.9 million, or 44 cents a share, in the quarter,
Shares of ManpowerGroup shed 2.1% in premarket trading Friday, after the provider of workforce services reported third-quarter revenue that missed expectations, and provided a fourth-quarter profit outlook that was below forecasts. Net income fell to $146.1 million, or $2.42 a share, from $158.0 million, or $2.43 a share, in the same period a year ago.