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BTI

CGC

OGI

STZ

TAP

Constellation Brands, Inc. (STZ) has let all its warrants to acquire shares of Canopy Growth Corp. (CGC) expire, stating it has no current plans related to Canopy. This means Constellation no longer beneficially owns any of the common shares underlying the warrants. However, through its subsidiaries, it still holds a stake in Canopy amounting to 171.5 million common shares or around 20.7% of the total outstanding shares. Other alcohol companies, such as Molson Coors Beverages Co. (TAP), have also invested in the cannabis industry. Additionally, tobacco company British American Tobacco (BTI) has made a strategic equity investment in Canadian cannabis company Organigram Holdings Inc. (OGI).

Portfolio Pulse from Jelena Martinovic

November 07, 2023 | 6:19 pm

EXPE

GNRC

PODD

QQQ

SPY

XLK

The U.S. stock market has seen a record rally in November, with the S&P 500 and Nasdaq 100 experiencing their longest sustained uptrend in two years. The rally was driven by a dovish Fed meeting and softer labor market data. The technology sector outperformed all other sectors within the S&P 500 index, with the Technology Select Sector SPDR Fund (NYSE:XLK) surging by 6.5% month-to-date. The top performing S&P 500 stocks month-to-date include Expedia Group Inc. (NASDAQ:EXPE), Generac Holdings Inc. (NYSE:GNRC), and Insulet Corp. (NASDAQ:PODD).

Portfolio Pulse from Piero Cingari

November 07, 2023 | 6:13 pm

INSW

International Seaways Inc (INSW) reported Q3 FY23 shipping revenue of $241.7 million, beating the consensus of $217.1 million. Adjusted EPS of $2.04 also beat the consensus of $1.68. The company raised contracted revenues to $344 million by entering into a new time charter agreement. It declared a quarterly dividend per share of 12 cents and a supplemental dividend per share of $1.31. The company bought back shares worth $14 million as of Q3-end, and it has $50 million worth of shares authorized under its share repurchase program.

Portfolio Pulse from Lekha Gupta

November 07, 2023 | 5:52 pm

HUM

Steve Weiss, a well-known investor, has increased his stake in Humana Inc. (HUM). The news was reported by CNBC.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 5:43 pm

ABT

ACRS

BMY

PRTA

REPL

SRPT

VTYX

Benzinga's options activity scanner has identified significant trading activity in eight health care stocks: VTYX, REPL, BMY, PRTA, ABT, ACRS, SRPT, and CI. The activity includes both bullish and bearish sentiments, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

November 07, 2023 | 5:35 pm

BCO

Brink's reported strong Q3 results and announced a $500 million buyback program, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 5:33 pm

VST

Vistra Corp (NYSE:VST) reported a Q3 FY23 operating revenue decline of 20.6% YoY to $4.09 billion, missing the estimate of $4.78 million. Net income from ongoing operations was $519 million, down from $662 million a year ago. However, adjusted EBITDA from ongoing operations of $1.61 billion was higher than $1.04 billion a year ago, led by higher energy margins. Vistra has hedged ~90% of its expected generation volumes on average for 2023 through 2025. The company has ~$1 billion remaining under its $4.25 billion share repurchase authorization, expected to be fully utilized by FY24. Despite the decline, Vistra is optimistic about its 2025 earnings outlook.

Portfolio Pulse from Akanksha Bakshi

November 07, 2023 | 5:30 pm

AURA

Aura Biosciences has announced the pricing of its public offering of common stock, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 5:23 pm

BMRN

BioMarin Pharmaceuticals' shares are trading higher after reports that activist investor Elliott Investment Management has built a stake in the company and has been in talks with the company for months.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 5:16 pm

NOW

Jason Snipe, a frequent CNBC contributor, announced live on the network that he has increased his holdings in ServiceNow. Following this announcement, ServiceNow's shares reached their highest level since January 2022.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 5:12 pm