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This basket consists of stocks that serve the 18+ crowd, such as casinos, alcohol, tobacco, and strip clubs.
Anheuser-Busch InBev SA/NV
Philip Morris International Inc.
Altria Group, Inc.
Las Vegas Sands Corp.
Constellation Brands, Inc.
MGM Resorts International
Wynn Resorts, Limited
Molson Coors Brewing Company
The Boston Beer Company, Inc.
Boyd Gaming Corporation
Red Rock Resorts, Inc.
Penn National Gaming, Inc.
RCI Hospitality Holdings, Inc.
An unloved yieldco saw a beneficial owner make a big buy. Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit. TerraForm Power Inc (NASDAQ: TERP) 10% owner Brookfield Asset Management stepped up to the buy window this past week.
The Insider Monkey team has completed processing the quarterly 13F filings for the June quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors experienced strong gains on the back of a strong market performance, which certainly propelled them to adjust their equity holdings so as […]
Today we'll look at Boyd Gaming Corporation (NYSE:BYD) and reflect on its potential as an investment. Specifically...
These five stocks have shared more than 60 consecutive annual dividend increases with their respective shareholders and their current dividend yields are greater than that for the S&P; 500.
Samuel Adams' rarest, most potent brew will be on tap for the first time ever, and only in the brewery's Cincinnati taproom.
Shares of the beverage company rose on Friday after an analyst said the booming popularity of hard seltzer makes it “too hard to sit on the sidelines.”
(Bloomberg) -- Sign up to our Brexit Bulletin, follow us @Brexit and subscribe to our podcast.The Brexit negotiations have taken a step forward with detailed talks set to begin for the first time since Boris Johnson became U.K. prime minister. The pound and U.K. banking stocks surged.After months of war-like rhetoric and threats, Johnson made a vital breakthrough in talks with Irish leader Leo Varadkar on Thursday, paving the way for detailed negotiations to start in Brussels.The two negotiating teams now have a weekend of intensive work ahead of them, examining draft legal text as they try to thrash out a deal in time for the summit of EU leaders on Oct. 17-18.But while the mood has brightened dramatically, the deal is not yet done. For one thing, it’s not clear what concessions -- if any -- Johnson has promised the EU, and whether he can get any deal through Parliament in London. The critical issue remains how to avoid a “hard” border, with customs checkpoints, at the land frontier between Ireland and the U.K after Brexit.“There is a joint feeling that there is a way forward that we can see a pathway to a deal,” Johnson told broadcasters on Friday. “That doesn’t mean it’s a done deal. There’s work to be done.”Key developments:Michel Barnier briefs EU ambassadors, but won’t reveal details of the U.K. concessionsEU agrees for detailed talks to intensify as negotiators aim for a dealBarnier hosted U.K. Brexit Secretary Steve Barclay for “constructive” meeting in BrusselsJohnson is keeping his Northern Irish Allies in the Democratic Unionist Party informed of his negotiations as they are key to ensuring any deal can pass a vote in ParliamentPound surges; RBS and Lloyds shares jumpThe DUP Responds (4:40 p.m.)Democratic Unionist Party leader Arlene Foster has finally given her reaction to Johnson’s latest offer. She reiterated her requirement that any deal must have the consent of the unionist community and fired a warning shot against any attempt to keep Northern Ireland in the EU’s single market. But, crucially, she didn’t go as far as to explicitly rule out supporting the prime minister. She said the party will use its “pivotal role” and “considerable influence” in Parliament to influence the outcome. “There will need to be a clear acceptance that the economic and constitutional integrity of the whole of the United Kingdom will have to be respected as we leave,” she said. “As a consequence of the mandate given to us by voters in 2017 the DUP is very relevant in the Parliamentary arithmetic and regardless of the ups and downs of the Brexit discussions that has not changed.”The DUP is in a formal arrangement to support Boris Johnson’s minority Conservative government and keep it in power. While it only has 10 votes in the House of Commons, some hardline Conservative MPs have indicated they will only back a Brexit deal if the DUP supports it too.U.K. Welcomes EU Talks Decision (3:45 p.m.)Boris Johnson’s office issued a statement welcoming the decision by the 27 other EU member states and saying his government is looking forward to negotiations “in the coming days.”“We welcome this decision, following the constructive meeting between the Brexit Secretary Stephen Barclay and Michel Barnier this morning, and building on the meeting between the prime minister and the Taoiseach yesterday,” Johnson’s team said in the statement. “We look forward to these intensified discussions in the coming days.”Industry Groups Raise Fears About Johnson’s Plan (3:40 p.m.)The U.K.’s aerospace, automotive, chemicals, food and drink and pharmaceutical sectors are concerned about Johnson’s plans for post-Brexit trading arrangements, the BBC reported, citing a letter sent by the group to the government. The plans can pose “serious risk to manufacturing competitiveness,” the letter said.In the letter, the industry representatives express their “growing concern” that British negotiators have dropped existing commitments to maintain regulatory alignment with the EU in relevant sectors. They also demanded reassurances that industry interests will be prioritized.Boris Johnson Is Elusive (2:57 p.m.)Johnson struck a cautious, yet optimistic note, in his first public comments since his meeting with Varadkar.“There is a joint feeling that there is a way forward that we can see a pathway to a deal,” the British prime minister told broadcasters in a pooled interview on Friday. “That doesn’t mean it’s a done deal. There’s work to be done.”He went on to say it “would be wrong of me to giving a running commentary on the negotiations. With the greatest possible respect I think, look at everything I’ve said previously. I think you can draw your own conclusions from that. But let’s our negotiators get on.”Pressed on what solutions he had proposed for the contentious Irish border question, Johnson said: “I can certainly tell you that under no circumstances will we see anything that damages the ability of the whole of the United Kingdom to take full advantage of Brexit, and I think that’s what people would expect, and that’s what I think we can achieve.”The pound, in the meantime, keeps rising. It’s now up 2%.The Devil Is in the Detail (2:06 p.m.)Barnier told the ambassadors that the U.K. had made concessions on both customs and consent without going into detail, an official said. Several ambassadors told him that the only thing that would work would be if the U.K. accepted the need for a Northern Ireland-only backstop, similar to the one thrashed out by the two sides last year, but Barnier refused to confirm that this was the plan, the official said.The issue about consent revolves around how the people of Northern Ireland should give their democratic consent to any agreement. It would involve some kind of regular sign-of from the region’s assembly.Question Is What Might the U.K. Have Given Up (1:47 p.m.)The U.K. conceded on some key issues that were standing in the way, an EU diplomat said following the debrief with Barnier. We are now looking to weekend negotiations, the diplomat representing one of the bloc’s member states, added.A second official, who was present in the debrief, said Barnier didn’t clarify what these U.K concessions might be. It’s an important question given how the U.K. depends on a Northern Ireland unionist party for backing in parliament.The EU Commission’s negotiator hinted that they are related to customs, and that we are heading toward a solution almost identical to the original Northern Ireland-only backstop, the ambassador said, asking not to be named, as the debrief wasn’t public.The bad scenario for this weekend is a backtracking from the U.K, in which case Barnier said he ’d discontinue the talks, the ambassador said. The good scenario is to bring a deal which resembles the original Northern Ireland-only backstop proposal of February 2018.In the latter case, a short technical extension may be required, the diplomat said.The meeting with Barnier was tense, with the French ambassador getting annoyed at one point because of the leaks to the media.Nothing Has Changed on Irish Border (1:38 p.m.)Let’s stay cautious. That is the message that resonated from the EU as speculation amped up on whether or not the divorce talks were headed into the final sprint.After meeting with his U.K. counterpart Stephen Barclay on Friday, Barnier told ambassadors from the 27 member states that there has been enough progress for talks to intensify.That isn’t quite the same as entering the so-called “tunnel” -- the formal Brussels process by which the actual legal text of an agreement is thrashed out in secret -- but it’s a sign both sides recognize a deal is still possible.Is It All Headed Into Secret Talks? (1:30 p.m.)So, EU envoys were briefed about a “possible convergence” between Ireland and the U.K, but a lot remains to be negotiated, a participant in the debrief with Barnier said. Ambassadors will reconvene either Sunday or Monday to take stock of the situation, the official said. The gist is to steer clear of using the word, tunnel, which implies a secretive process.What is obvious is that enough progress has been made to keep negotiating through the weekend with the aim of reaching a deal, instead of declaring talks dead today as Tusk said the plan was.Johnson Keeping Foster in Brexit Loop (12:30 p.m.)Boris Johnson has spoken to Arlene Foster, leader of the Democratic Unionist Party, about his Brexit proposals, according to a U.K. official.His office is keeping the DUP informed of the status of talks, aware that the party’s support for any deal could be crucial to it passing though The House of Commons.Pound Optimism Continues as Banks Surge (11:55 a.m.)The pound is now headed for its biggest two-day rally since before the Brexit vote in June 2016. The latest step higher came after a European Commission spokeswoman labeled the talks “constructive” (see 11:20 a.m.).Its not just the currency where optimism is mounting. Shares in Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc are up more than 9 %.Barclay-Barnier Meeting ‘Constructive,’ EU Says (11:20 a.m.)The European Commission was tight-lipped about the outcome of Friday morning’s meeting between EU chief Brexit negotiator Michel Barnier and U.K. Brexit Secretary Stephen Barclay, with a spokeswoman saying only that the talks were “constructive.”“You can assume they exchanged ideas, discussed many different angles,” Mina Andreeva told reporters in Brussels. “If there’s a will then of course there’s a way, otherwise people wouldn’t be working on this.”A U.K. spokesman used the same word to describe the talks.Brexit Talks May Enter Tunnel, Varadkar Says (11 a.m.)U.K. and EU negotiators may now enter the so-called tunnel for Brexit talks, Irish Prime Minister Leo Varadkar told reporters in Dublin.The focus is now on Brussels, he said, adding that he expects the U.K. will make more detailed proposals. The less said publicly about the talks the better, he said.DUP Lawmaker Warns on Stormont Veto (10.35 a.m.)Removing the so-called Stormont lock from any Brexit deal would leave Northern Ireland’s unionists “marooned,” Democratic Unionist Party lawmaker Jim Wells warned in an RTE radio interview.Northern Ireland Secretary Julian Smith’s suggestion that no one party in the region would have a veto through a vote in the Northern Ireland Assembly “does worry me,” Wells said, adding that “nothing will work unless unionism is signed up to it.”Acknowledging there had been a change of mood in the talks after Varadkar and Johnson’s meeting on Thursday, Wells, who is a member of the suspended Assembly, made clear that any plan which would force Northern Ireland to follow EU rules would be “unacceptable.”Pound Rises Again on Brexit Optimism (10:25 a.m.)The pound has surged 2.5% since Wednesday’s close, with traders jumping on the signs of Brexit optimism.It gained 0.6% to $1.2511 Friday, with Donald Tusk’s comments (see 10 a.m.) adding to the momentum. Deutsche Bank said Thursday evening it was no longer negative on the U.K. currency following a “pivotal moment” in Brexit talks.Options show sentiment on the pound over the next month is now the most positive since Bloomberg began compiling the data in 2003.Ireland: Detailed Talks Will Start (10:05 a.m.)While Thursday’s meeting between Johnson and Varadkar was positive, the “real detailed negotiation and technical work now will begin and that will be in Brussels,” Irish Finance Minister Paschal Donohoe said.Speaking on Newstalk radio, Donohoe pointed to the issue of allowing the region of Northern Ireland to give or withhold “consent” for any new customs system as a crucial area for discussion in the talks. There are differing views in the region on the issue, he said.EU’s Tusk Says ‘Promising’ Signals for a Deal (10 a.m.)EU Council President Donald Tusk gave some mixed messages over the chances of a Brexit deal, saying the U.K.’s proposals aren’t yet realistic but there are “promising signals.”“Unfortunately we are still in a situation in which the U.K. has not come forward with a workable, realistic proposal,” Tusk said in a televised statement in Cyprus. “A week ago I told Prime Minister Johnson that if there was no such proposal by today I would announce publicly there are no more chances” of a deal at next week’s summit of EU leaders.But Tusk said there was some positive news out of Thursday’s meeting between Johnson and Irish Prime Minister Leo Varadkar.“I have received promising signals from the Taoiseach that a deal is still possible,” he said. “Technical talks are taking place in Brussels as we speak. Of course there’s no guarantee of success and the time is practically up, but even the slightest chance must be used.”AB InBev Shelves U.K. Expansion On Brexit Fears (9:40 a.m.)Brewing giant Anheuser-Busch InBev SA put on hold plans to roughly double the size of its U.K. headquarters amid growing uncertainty over Brexit.The Belgian owner of Budweiser and Corona had been in talks to lease additional space in London’s Bureau building, where it already occupies the top four floors, two people with knowledge of the matter said.Fianna Fail Expects Talks to Resume (9.15 a.m.)The leader of Ireland’s main opposition party expects U.K. and EU negotiators to resume formal Brexit talks after Irish PM Leo Varadkar and U.K. leader Boris Johnson met on Thursday.Micheal Martin, who leads the Fianna Fail party, said he would be disappointed if talks don’t restart. “In good diplomacy there has to be accommodation and you can’t have one side losing face against the other,” he told RTE radio.Martin’s party is in a confidence and supply arrangement with the government, so is consulted on most major government decisions. He is likely to have been briefed on Thursday’s meeting.Barclay and Barnier Meet in Brussels (8:30 a.m.)U.K. Brexit Secretary Steve Barclay has arrived at the European Commission in Brussels for talks with the EU’s chief negotiator, Michel Barnier. The two will explore where things stand after Thursday’s meeting between the prime ministers of the U.K. and Ireland and discuss whether to restart more intensive talks.There’s no scheduled time for the meeting to end but Barnier is due to address EU ambassadors at 12:30 p.m. Brussels time.Earlier:Brexit Hopes Rise as U.K. and EU Take a Step Closer to a DealBoris Johnson’s Irish ’Pathway’ Is Full of Holes: Lionel LaurentImagine Brexit Heaven. It Isn’t Easy, I’ve Tried: John Authers\--With assistance from Tim Ross, Charlotte Ryan and Peter Flanagan.To contact the reporters on this story: Ian Wishart in Brussels at email@example.com;Nikos Chrysoloras in Brussels at firstname.lastname@example.org;Tiago Ramos Alfaro in London at email@example.comTo contact the editors responsible for this story: Flavia Krause-Jackson at firstname.lastname@example.org, Thomas Penny, Raymond ColittFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Fluent Beverage Company, a joint venture between both companies, said it plans to commercialize non-alcoholic, CBD-infused beverages in Canada. "Leading Fluent in my return to Canada has been very exciting. Fluent Beverages' announcement is a major step in the proliferation of CBD-infused beverages on a bigger scale.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
On Thursday, Canopy Growth announced that Constellation’s CFO David Klein will be the new chairman of its board effective immediately.
Boston Beer receives another upgrade, this time from Citi analyst Wendy Nicholson, who boosts her rating on the stock to buy from neutral amid what she sees as 'terrific' growth of its hard seltzer brand, Truly.
Canopy Growth named Constellation Brands CFO as its chairman. Hexo pulled sales guidance. Canopy Growth and Hexo hit record lows. Marijuana stocks fell.
Hedge funds and large money managers usually invest with a focus on the long-term horizon and, therefore, short-lived dips or bumps on the charts, usually don't make them change their opinion towards a company. This time it may be different. During the fourth quarter of 2018 we observed increased volatility and small-cap stocks underperformed the […]
The market seems to have decided that cannabis stocks like Cronos Group (NASDAQ:CRON) were in a bubble. Pot stocks have been absolutely hammered for the last few months, and Cronos Group stock has been no exception. CRON stock has dropped nearly two-thirds from its 52-week high, and now trades at 2019 lows.Source: Shutterstock Again, CRON isn't the only cannabis play taking a beating. Canopy Growth (NYSE:CGC), Aurora Cannabis (NYSE:ACB), and Tilray (NASDAQ:TLRY) all are down at least 62% from 52-week highs.That obviously doesn't mean the sector is headed to zero. Presumably, at some point, buyers will step in. There's still a long-term opportunity in cannabis, even if early results in Canada look disappointing. Valuations clearly got out of hand, but at least on an EV/revenue basis are starting to come in.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut the problem for Cronos Group stock in the near-term still holds. As I wrote in May, the company still hasn't given investors a coherent narrative for actually owning CRON stock. The best thesis I've come up with is that Cronos stock is the cannabis play for investors who believe cannabis plays are overvalued.That might well be wise long-term -- I largely agree with the strategy so far -- but it's not going to help much any time soon. With a chart that is a textbook 'falling knife' and profitability still years out, there's not much reason to predict a bottom in CRON stock just yet. The Problem With CRON Stock"Now, we understand that many investors are modeling cannabis companies off of their production capacity. However, our business model is not to be the farmer."That quote comes from Cronos CEO Mike Gorenstein on the Q2 conference call in August. And it highlights the near-term problem for Cronos Group stock.Any investor trying to time the bottom here in cannabis stocks has to believe that the sell-off has gone too far. That investor may well believe that past highs -- $20+ for CRON, $50+ for CGC, etc. -- were too high. But the thesis would be that what began as a reasonable correction to valuations has turned into a stampede of selling that ignores the broader opportunity.If that investor wants to buy a cannabis stock right now, it's exceedingly difficult for them to choose CRON. If the opportunity long-term still is intact, the play is to go with Canopy or Aurora, two companies who are aggressively going after multiple markets in the industry.As Gorenstein noted, many of those investors are valuing pot stocks off production and/or revenue. Because of its disinterest in developing production capacity, CRON stock screens poorly on both metrics (at least on a relative basis).Even after acquiring Redwood, the company does have US$1.5 billion in cash on its balance sheet -- almost half a current market capitalization of US$3.2 billion -- but that hardly makes Cronos Group stock a value play. CRON still trades at 11x EV/revenue using 2020 consensus estimates.Profitability remains several quarters out, too. Fundamentally, this is a stock that lacks a story and a catalyst. Without either, it's tough to project a near-term rally. The Long-Term Case for Cronos Group StockTo be clear, these are short-term issues. Cronos Group's cash balance gives the company time to execute its strategy. And I still believe that strategy is wise. It's an echo of what its largest shareholder, tobacco giant Altria (NYSE:MO), has done. Let farmers farm while the processor uses capital for branding, development, and distribution in higher-margin end markets.With oversupply concerns already rampant, it's somewhat surprising that Cronos Group hasn't received a little more credit for that strategy. But it hasn't, and it's possible it won't until it proves itself.And even in a best-case scenario, that's going to take some time. In the meantime, the chart is ugly, the sector is collapsing, and there aren't any external catalysts on the horizon.The U.S. House of Representatives did pass the SAFE Banking Act, a presumed step toward potential legalization. Last year, such a development likely would have sent cannabis stocks soaring. This year, it barely registered: the sector-wide sell-off has continued.Investors need to look at that price action for all cannabis stocks, but especially CRON. It's not going to bottom before its sector does. And given its strategy, it's likely going to be late in joining any rally. The long-term strategy is intriguing, and valuation is getting at least palatable. Still, there's absolutely no need to rush.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Super Boring Stocks to Buy With Super Safe Returns * 10 Winning Stocks to Buy and Stick With for the Long Haul * Don't Give Up on These 4 Cannabis Stocks The post CRON Stock Still a Falling Knife Without a Catalyst appeared first on InvestorPlace.
Shares of tobacco giant Altria (NYSE:MO) have taken a pounding in 2019 amid escalating headwinds in the e-cigarette market. Year-to-date, Altria stock is down 12%.Source: Kristi Blokhin / Shutterstock.com Recent weakness simply adds to what has been a secular decline in Altria stock, which dates back to mid-2017. The driver of this secular decline? A secular decline in tobacco use everywhere, which has weighed on Altria's revenue and profit growth trajectories. From its mid-2017 highs, MO stock has shed nearly half of its value.Contrarians and bulls will say its time to buy the dip in Altria stock. Their rationale? Traditional cigarette volume drops have been offset by price hikes, and this should continue for the foreseeable future. Meanwhile, today's e-cigarette headwinds are temporary. Once they pass, Altria's big Juul stake will continue to pay off in a big way. Even further, the cannabis market will gain traction over the next few years, and as it does, Altria's big stake in Cronos (NASDAQ:CRON) will pay off in a big way, too.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThat argument sounds good, doesn't it? But it misses one big point. * 10 Super Boring Stocks to Buy With Super Safe Returns Altria makes all its money from tobacco products, and without tobacco volume growth and with e-cigarette demand headwinds, this company's revenue and profit growth trajectories will remain relatively muted. MO stock is appropriately priced considering those muted growth trajectories, and buying the dip in a fairly valued stock here -- amid a potentially catastrophic e-cigarette crisis -- doesn't seem like the smartest move.The investment implication? Steer clear of Altria stock for now. Wait for the stock to get cheaper. Wait for the headwinds to clear. Then, if the price is right, buy the dip. Altria's Secular Growth Prospects Aren't GreatIn the big picture, Altria's secular growth prospects are pretty dour. This is an antiquated tobacco giant, operating in a world where tobacco usage is in a secular decline. Plus its largest potential catalysts (e-cigarettes and cannabis) face existential crises.None of that screams healthy revenue or profit growth.First, and foremost, Altria makes 95% of its revenue from either smoking or smokeless tobacco products. Demand for these products is dropping as consumers are increasingly becoming more aware, healthier and active. Consequently, 95% of Altria's revenues will suffer from volume drops over the next few years. Sure, those volume drops can be offset somewhat by price increases. But, declining volumes imply that Altria's big tobacco business is essentially a no-growth business.Second, Altria's big e-cigarette tailwind has turned into a massive headwind. Specifically, the Centers for Disease Control and Prevention and the U.S. Food and Drug Administration have opened an investigation into e-cigarettes as over 1,000 lung injury cases and 18 deaths related to e-cigarettes have been reported. About 80% of these cases deal with consumers under the age of 35. The median age is 23. The youth are at stake here.The vaping crisis is now a political hot topic -- the states of Michigan, New York and Massachusetts have already banned the sale of e-cigarettes. San Francisco has done the same and Los Angeles is on the brink of a similar decision.I don't see these headwinds easing up anytime soon. This isn't a near-term phenomena. People are paying attention, and because it's impacting the youth, people will act. They already are. These actions will have long-term consequences, including depressing what was a red-hot Juul growth narrative.Altria is one part no-growth tobacco business and one part cooling off e-cigarette business. That's not a great combination. Altria Stock Is Priced AppropriatelyConsidering its muted growth prospects, Altria stock is priced appropriately at the current moment.Many investors look at the stock's 10-times forward price-to-earnings multiple and think that the stock is too cheap for its own good. But, the average tobacco stock trades at just 11.5-times forward earnings, so the stock's 10-times forward multiple isn't too far off from the tobacco stock norm. At the same time, if you model out Altria's forward earnings growth trajectory, it becomes clear that MO stock shouldn't fetch much more than a $40 price tag today.Here are then numbers. Smoking and smokeless tobacco volumes will likely continue to decrease by 3%-5% over the next several years. Those declines will be somewhat offset by roughly 5% price hikes on tobacco products. Thus, the tobacco business should eek out narrow revenue gains over the next few years. Meanwhile, margins in that business should remain relatively stable, as loss of demand and increase in unit prices should have an offsetting impact on one another in terms of the bottom line.At the same time, Juul and Cronos will continue to add to the bottom line, but in a less meaningful way than previously anticipated.Taking all this into consideration, my modeling pegs Altria's fiscal year 2025 earnings per share at $6. Based on a tobacco stock average 11.5-times forward earnings multiple and a 10% discount rate, that equates to a FY19 price target for Altria stock of roughly $43. Bottom Line on MO StockBy my numbers, Altria stock looks like a fairly valued stock today. But, Altria stock is also facing significant optical headwinds from the e-cigarette crisis.A good rule of thumb in investing -- don't buy fairly valued stocks with big optical headwinds. Instead, if a stock has big optical headwinds, only buy it at a discount to fair value.Thus, I'd steer clear of MO stock here and now. If it dips below $40, that's a different story. But, for now, Altria stock doesn't look too compelling.As of this writing, Luke Lango did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Super Boring Stocks to Buy With Super Safe Returns * 10 Winning Stocks to Buy and Stick With for the Long Haul * Don't Give Up on These 4 Cannabis Stocks The post Steer Clear of Altria Stock Amid the E-Cigarette Crisis appeared first on InvestorPlace.
(MO) stock has trailed behind the market this year, but even with more awareness of possible health hazards linked to vaping, Argus believes the tobacco giant is still worth buying. The company has faced a number of headwinds, including recent vaping-related illnesses that caused investors to question the value of its 35% stake in e-cigarette firm Juul Labs. On Thursday, Argus analyst David Coleman reiterated a Buy rating and $60 price target on (MO) He admits that Altria is facing plenty of pressure, as headlines highlight the potential health dangers of vaping and the chances increase for restrictions on nicotine levels and flavorings in e-cigarettes.
Philip Morris (PM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Cannabis producer Canopy Growth Corp said on Thursday it appointed top shareholder Constellation Brands Inc's chief financial officer, David Klein, as chairman of its board. Klein will take over, effective immediately, from interim chairman John Bell, who will continue as a director on the board. In July, Canopy fired its co-founder, co-Chief Executive Officer and Chairman Bruce Linton after Constellation expressed disappointment over the company's financial performance.
Klein will take over, effective immediately, from interim chairman John Bell, who will continue as a director on the board. In July, Canopy fired its co-founder, co-Chief Executive Officer and Chairman Bruce Linton after Constellation expressed disappointment over the company's financial performance. Bell was appointed as the interim chairman after Linton's ouster.
Citi is bullish on the Boston Beer Company. The firm upgraded its rating on the stock to buy from neutral and raised its price target by $54 to $448. Citi analyst Wendy Nicholson writes that it’s too hard to sit on the sidelines when hard seltzer growth is so truly terrific. Here's Yahoo Finance's Jen Rogers, Myles Udland and Dan Roberts to break down this call.
The CDC says the total cases of vaping-related illnesses rose to nearly 1,300 incidents, and at least 26 confirmed deaths. Yahoo Finance's Zack Guzman & Julia La Roche, along with CapitalistBook.com author Nathan Latka discuss with NYU School of Medicine's Moon-Shong Tang.