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1. Tesla is dramatically changing its board01:11[−]

Tesla Inc. disclosed Friday afternoon that several directors will leave its board, which has been criticized for failing to rein in actions by Chief Executive Elon Musk. Brad Buss, Antonio Gracias, Stephen Jurvetson and Linda Johnson Rice are expected to leave the board over the next two years. Buss and Rice will not stand for re-election at the 2019 shareholders meeting, which will be held in June, while Jurvetson -- who has officially been on leave since allegations of misconduct at his venture-capital firm in 2017 -- will remain until the 2020 meeting. Tesla shareholders will vote to reduce director terms from three years to two at the 2019 shareholder meeting; if the Tesla-introduced resolution passes, Gracias will also not stand for re-election at the 2020 meeting, Otherwise, he will leave in 2021. Tesla recently added Oracle Corp. founder Larry Ellison and new Chairwoman Robyn Denholm to its board as a result of a settlement with the Securities and Exchange Commission, giving the board 11 members currently.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


2. Retailer Torrid cancels plans for initial public offering00:22[−]

Plus-sized women's apparel retailer Torrid Inc. pulled its plans for an initial public offering late Friday, according to a filing with the Securities and Exchange Commission. Torrid, which filed for an IPO in July 2017, had planned to raise up to $100 million and list on the New York Stock Exchange. "The company believes that the withdrawal of the registration statement would be consistent with the public interest and the protection of investors," Torrid said in its Friday filing. The retailer was spun off in 2015 from Hot Topic, which was taken private by Sycamore Partners back in 2013.

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3. Visa board elects CEO Kelly as chairmanПт., 19 апр.[−]

Visa Inc. said late Friday its board elected Chief Executive Alfred Kelly as chairman. Kelly's chairmanship was effective on Tuesday, Visa said. Kelly succeeds Robert Matschullat as chairman, and Matschullat will continue to serve as the board's finance committee chair. Kelly has been Visa's CEO since December 2016.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


4. FDA approves first generic naloxone nasal spray to treat opioid overdoseПт., 19 апр.[−]

The Food and Drug Administration has given Israeli drugmaker Teva Pharmaceuticals Inc. final approval to market the first generic naloxone nasal spray to treat opioid overdose, the agency announced Friday. The spray, currently sold under the brand name Narcan by Emergent BioSolutions Inc. subsidiary Adapt Pharma, is a life-saving medication that can stop or reverse the effects of an opioid overdose. Shares of Teva have lost 6.9% so far this year, while the S&P 500 has gained 15.9%. Shares of Emergent BioSolutions have fallen 10.6%. This marks the first time a generic naloxone nasal spray has been approved for use by people without medical training, though generic injectable naloxone products have been available for years. "In the wake of the opioid crisis, a number of efforts are underway to make this emergency overdose reversal treatment more readily available and more accessible. In addition to this approval of the first generic naloxone nasal spray, moving forward we will prioritize our review of generic drug applications for naloxone," said Douglas Throckmorton, deputy center director for regulatory programs in the FDA's Center for Drug Evaluation and Research, in a statement. The U.S. in the midst of a deadly opioid epidemic. Almost 400,000 people died from opioid overdose between 1999 and 2017, according to the Centers for Disease Control and Prevention.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


5. Peer-to-peer lender Prosper to pay $3 million to settle fraud chargesПт., 19 апр.[−]

The Securities and Exchange Commission said Friday that peer-to-peer lender Prosper Funding LLC will pay a $3 million penalty for miscalculating and materially overstating annualized net returns to investors. The SEC said that Prosper excluded certain non-performing charged off loans from its calculation of annualized net returns that it reported to investors from about July 2015 until May 2017. As a result, Prosper reported overstated annualized net returns to more than 30,000 investors on individual account pages on Prosper's website and in emails soliciting additional investments, according to the agency. Without admitting or denying the agency's findings, Prosper consented to the entry of an SEC order finding that it violated the antifraud provision.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


6. Under Armour's North American president steps downПт., 19 апр.[−]

Under Armour Inc.'s North American president, Jason LaRose, will step down from his role effective April 30, 2019, the athletic company announced in a filing. Patrik Frisk, Under Armour's chief operating officer, will head up the North American business on an interim basis. Under Armour is scheduled to announce first-quarter earnings on May 2 before the opening bell. Under Armour shares have gained 8.2% over the last three months roughly in line with the S&P 500 index , which is up 8.8% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


7. MedMen says its COO and General Counsel have resignedПт., 19 апр.[−]

Cannabis retailer MedMen Enterprises Inc. said Friday it has accepted the resignations of two senior officials. The company said Chief Operating Officer Ben Cook and General Counsel Lisa Sergi who is also a board member, have both resigned from the company. It said it named Ryan Lissak as chief technology officer during its fiscal quarter ended March 30. "The leaders of the operations group will now report directly to the CEO," the company said in a statement. "The leaders of the legal team include Dan Edwards, who will continue in his role of Senior Vice President of Legal Affairs, and report directly to the CEO." MedMen is currently the subject of a lawsuit from its former finance head James Parker, alleging that he was exposed to racial, homophobic and misogynistic epithets and slurs, drug and alcohol abuse and personal humiliation, while at the company.The company has denied all wrongdoing. In March, it was expelled from the New York Medical Cannabis Association over the allegations. Shares have gained 7% in the year to date, while the S&P 500 has gained 16%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


8. Alaska Air had worst on-time performance in February, Hawaiian had the best--DOTПт., 19 апр.[−]

Alaska Air Group Inc. had the worst one-time performance in February among reporting marketing carriers, while Hawaiian Holdings Inc. had the best, according to the Department of Transportation's "Air Travel Consumer Report" (ATCR). The average on-time arrival rate for the month was 73.8%, while Alaska Air came in at 66.9%, and JetBlue Airways Group Corp. was second worst at 70.0%. Hawaiian came in at 81.7% and Delta Air Lines Inc. came in second at 77.9%. Alaska also had the highest flight cancellation rate at 5.8%, well above the average rate of 3.1%, and at least the 3 longest tarmac delays for domestic flights, the ATCR said. Southwest Airlines Co. had teh second-highest cancellation rate at 4.6%, while Hawaiian had the lowest cancellation rate at 0.6% and Frontier Airlines was second lowest at 1.2%. Alaska Air's stock has edged up 1.4% year to date through Thursday, while Hawaiian shares have rallied 15.3%, the NYSE Arca Airline Index has gained 14.3% and the S&P 500 has climbed 15.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


9. U.S. stock funds post consecutive weekly inflows for first time in 7 months--EPFRПт., 19 апр.[−]

U.S. equity funds tracked by EPFR Global took in new money during the week ending April 17, to post the first consecutive weekly inflows since early September. EPFR, a subsidiary of London-based Informa PLC , said the two-week streak coincided with the first consecutive weekly inflows into China equity funds on two months, which may be an indication that investors are banking on hope the two countries will reach a trade agreement. During those two weeks, the S&P 500 has gained 0.9% and the iShares China Large-Cap ETF has advanced 1.3%. Overall, however, EPFR said the global rotation out of equities into bonds continued, as equity funds had outflows of $1.1 billion in the latest week, led by redemptions in developed-markets equity funds, while bond funds took in $7.9 billion.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


10. Used vehicle prices rise in March for first time in six months: J.D. PowerПт., 19 апр.[−]

Used vehicle prices rose in March for the first time in six months, according to analyst at J.D. Power Valuation Services. In its April Used Car and Light Truck Guidelines Industry Update, analysts said their seasonally adjusted Used Vehicle Price Index rose by 1.1 points from February to 117.5. The positive reading comes after weaker-than-usual numbers for January and February. "In terms of full-year 2019 expectations, the used market is expected to slow in 2019," said David Paris, Executive Analyst at J.D. Power Valuation Services, in a statement. "As a result, prices are forecast to fall by around 2%. Increasing levels of used supply along with more volatile credit conditions and increasing gas prices, which are expected to apply downward pressure on the used car market." New vehicle sales fell 2.2% to 17.48 million in the month.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


11. Tonix Pharmaceuticals R&D pact with U.S. Army to be terminated 'without cause'Пт., 19 апр.[−]

Tonix Pharmaceuticals Holding Corp. disclosed Friday that the U.S. Army Medical Material Development Activity (USAMMDA) is exercising its right to "terminate without cause" the research and development agreement with the company. The termination of the agreement, which Tonix and USAMMDA entered in December 2015, is effective April 29. Tonix has two development programs focused on post-traumatic stress disorder (PTSD), and is currently enrolling participants in a phase 3 trial. The stock has gained 8.2% year to date, but has plunged 93% over the past 12 months, while the S&P 500 has gained 16% year to date and advanced 7.9% the past year.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


12. Fastly files for IPO, with class A shares to list on NYSEПт., 19 апр.[−]

Fastly Inc. has filed Friday for an initial public offering of class A shares. The "edge cloud" platform company, which allows developers to deliver digital experiences "at the edge of the internet," hasn't determined the number of shares it will sell. Fastly will have a dual class share structure, with class A shares entitled to one vote and class B shares entitled to 10 votes. The company has applied to have its class A shares listed on the New York Stock Exchange, under the ticker symbol "FSLY." Fastly recorded a net loss of $30.9 million on revenue of $144.6 million in 2018, after a loss of $32.5 million on revenue of $104.9 million in 2017. The lead underwriters of the IPO are BofA Merrill Lynch, Citigroup and Credit Suisse. The company is looking to go public at a time that the Renaissance IPO ETF has rallied 29% year to date and the S&P 500 has gained 16%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


13. Nissan to slash annual production output by 15%: reportПт., 19 апр.[−]

Nissan Motor Co. shares fell Friday in Japan after a report that it will slash its worldwide output by 15% for the current fiscal year. Nikkei reported the Japanese auto maker is dropping an aggressive expansion plan that former Chairman Carlos Ghosn had supported, and will produce about 4.6 million vehicles in the fiscal year ending March 2020. That would be the lowest output total for Nissan in nine years, Nikkei said. Earlier this year, Nissan cut its operating profit outlook. Ghosn was removed as chairman in November and is currently being held in jail in Tokyo on financial misconduct charges. Nissan shares are down nearly 6% over the past six months, compared to the Nikkei 225 index's 2% decline over that span.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


14. Uber announces $1 billion investment in self-driving-vehicle unitПт., 19 апр.[−]

Uber Technologies Inc. late Thursday announced a $1 billion investment in its self-driving-vehicle unit, just weeks ahead of its highly anticipated IPO. "Excited to announce Toyota, Denso and the SoftBank Vision Fund are making a $1B investment in @UberATG, as we work together towards the future of mobility," Chief Executive Dara Khosrowshahi tweeted. Denso , a Japanese auto-parts maker, and Toyota will contribute about $667 million, while SoftBank's Vision Fund will chip in about $333 billion, CNBC reported. The investment values Uber's Advanced Technologies Group at $7.25 billion, according to Dow Jones Newswires. Uber is expected to go public in early May.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


15. FTC may sanction Zuckerberg for Facebook privacy woes: reportПт., 19 апр.[−]

Federal regulators are considering holding Facebook Inc. Chief Executive Mark Zuckerberg accountable for the company's handling of users' personal data, the Washington Port reported late Thursday. The issue of targeting Zuckerberg has been brought up in the FTC's settlement talks with Facebook concerning its role in the Cambridge Analytica scandal, the Post reported. Sanctioning a tech CEO would be a rare move by the FTC, and could serve as a shot across the bow to other tech executives amid a growing public and political backlash to privacy and the handling of user data. Options could potentially include forcing Zuckerberg to periodically certify Facebook's privacy practices, heightened oversight by the FTC or even financial penalties, the Post said. Earlier this year, the Post reported Facebook could end up paying a record-breaking fine, in the multi-billion-dollars range, to avoid a court battle. Facebook's privacy problems grew Thursday, as the company admitted far more Instagram passwords were inappropriately stored in plain text on its internal servers than were originally reported, and a report that its "unintentional" uploading of 1.5 billion users' email contact data without their consent may have broken U.S. and EU laws.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


16. Pfizer, Lilly shares decline as osteoarthritis drug misses goals in studyПт., 19 апр.[−]

Shares of drug makers Pfizer Inc. and Eli Lilly & Co. declined in the extended session Thursday after the companies said a clinical study of an osteoarthritis drug didn't meet certain goals. Pfizer shares declined 1% after hours, following a 1.3% decline to close at $39.38 in the regular trading session. Lilly shares fell 1.9% after hours, following a 1.1% close lower at $115.20. The companies said that a late-stage study of their drug tanezumab at 5 mg did not show a statistically significant improvement in overall osteoarthritis symptoms compared with nonsteroidal anti-inflammatory drugs. A 2.5 mg dose did not show a statistically significant improvement in pain, physical function or patients' overall assessment, the companies said. "We are analyzing these findings in the context of the recent Phase 3 results as we assess potential next steps for tanezumab," said Ken Verburg, Pfizer's tanezumab development team leader, in a statement. "We plan to review the totality of data from our clinical development program for tanezumab with regulatory authorities."

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


17. Intuitive Surgical stock falls after earnings missЧт., 18 апр.[−]

Intuitive Surgical Inc. shares dropped in the extended session Thursday after the surgical robot maker's quarterly results fell short of Wall Street estimates. Intuitive Surgical shares fell 7.3% after hours, following a 0.6% gain to close the regular session at $528.06. The company reported first-quarter net income of $306.5 million, or $2.56 a share, compared with $287.6 million, or $2.44 a share, in the year-ago period. Adjusted earnings were $2.61 a share. Revenue rose to $973.7 million from $847.5 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $2.70 a share on revenue of $975.3 million.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


18. Intelsat says that Boeing-made satellite lost after failureЧт., 18 апр.[−]

Intelsat S.A. said late Thursday it has lost one of its satellites, made by Boeing Co. , after an incident earlier this month. An "anomaly" previously disclosed "has resulted in the total loss of the Intelsat 29e spacecraft," the satellite company said. A review board has been convened to go over the incident alongside Boeing, Intelsat said. The Intelsat 29e propulsion system leaked on April 7, resulting in a service disruption to customers on the satellite, the company said. While working to recover the satellite, a second problem occurred "after which all efforts to recover the satellite were unsuccessful," the company said. Restoration paths on other Intelsat satellites and third-party satellites have been provided for a majority of the disrupted services. Shares on Intelsat fell 1.8% in the extended session after ending the regular trading day up 1.4%. Boeing shares were flat after closing 0.7% higher on Thursday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


19. Stock market ends holiday-shortened week higher, with Dow within shouting distance of a recordЧт., 18 апр.[−]

U.S. stocks ended higher Thursday as investors appeared to find optimism in a round of corporate earnings and economic reports, and as a highly anticipated release of a redacted version of an investigation of Russian interference in Trump's 2016 campaign, known as the Mueller report, hasn't yet revealed major surprises.(Markets will be closed in observance of Good Friday). The Dow Jones Industrial Average finished up 110 points, or 0.4%, at 26,559 (on a preliminary basis), the S&P 500 index ended the session 0.2% higher at 2,905, while the Nasdaq Composite Index finished in positive territory but mostly flat at 7,998. For the week, the Dow rose 0.6%, the S&P 500 booked a 0.1% decline, while the Nasdaq rose a slight 0.2%. All three benchmarks are within striking distance of records, with the Dow about 1% shy of its Oct. 3 closing high. Thursday also featured a parade of prominent initial public offerings, including those for Zoom Video Communications Inc. and Pinterest Inc. . On the data front, a report on retail sales showed a rise of 1.6% in March, beating consensus estimates, and the Conference Board's Index of Leading Economic Indicators rose 0.4% in March, indicating a slight uptick in U.S. economic activity from a weak start to 2019. However, the Philadelphia Fed's regional manufacturing index fell to a three-year low of 8.5, below economists expectations of 11. The market took the release of Special Counsel Robert Mueller's report in stride.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


20. U.S. oil futures tally a gain for a seventh straight weekЧт., 18 апр.[−]

Oil futures settled higher on Thursday, with U.S. prices up 0.2% for the holiday-shortened week. There will be no oil trading in U.S. and U.K. on Good Friday. Traders continued to weigh the outlook for production, ahead of the expiration of the OPEC-led production cut agreement in June. May West Texas Intermediate oil rose 24 cents, or 0.4%, to settle at $64 a barrel on the New York Mercantile Exchange.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


21. ITC says U.S.-Mexico-Canada trade deal would lift GDP by 0.35%Чт., 18 апр.[−]

In a closely awaited report, the United States International Trade Commission reported that the U.S.-Mexico-Canada Trade Agreement would increase U.S. real GDP by $68.2 billion, or 0.35%, and help create 176,000 more U.S. jobs, or increase employment by 0.1%. The ITC's report analyzing the economic impact of USMCA also found that the trade deal, which needs to be ratified, would increase U.S. exports to Canada by $19.1 billion and to Mexico by $14.2 billion.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


22. Gold futures end at lowest since December, down 1.5% for the weekЧт., 18 апр.[−]

Gold futures posted a modest decline on Thursday, to tally a loss of 1.5% for the week. "U.S. dollar strength, enhanced not only by economic data but release of the Mueller report is going to keep a lid on gold in the short term," said Jeff Wright, executive vice president of GoldMining Inc. June gold lost 80 cents, or less than 0.1%, to settle at $1,276 an ounce on Comex. That was the lowest finish for a most-active contract since Dec. 26, according to FactSet data. Gold trading will be closed for Good Friday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


23. Netflix to add production hub in NYC and create 127 new jobsЧт., 18 апр.[−]

Netflix Inc. is planning to add a production hub to its new York City operations, adding up to $100 million in investments to he city and hundred of jobs, Gov. Andrew Cuomo said Thursday. The hub will include an expanded office with 127 high-paying jobs in content, marketing and production over the next five years, he said. The streaming giant will add six sound stages in Brooklyn with the capacity for thousands of production crew jobs. Netflix's new corporate offices are expected to occupy about 100,000 square feet in the Flatiron District. The company has already produced many shows in New York City, including the women's prison series "Orange is the New Black," comedy series "Unbreakable Kimmy Schmidt," as well as The Martin Scorcese-helmed film "The Irishman." It has leased about 161,000 square feet of space at Johnson Ave. in Brooklyn. The company will receive up to $4 million tax credits over then years, directly tied to job creation. The news comes after Amazon.com Inc. cancelled plans to locate part of its second headquarters in Long Island City, Queens, after opposition from locals to the billions of dollars it was set to receive from the state. Netflix shares were up 1.3% on Thursday, and have gained 34% in 2019 so far, while the S&P 500 has gained 16%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


24. Sears sues former CEO Eddie Lampert for asset stripping, names Treasury Secretary Mnuchin in lawsuit: reportsЧт., 18 апр.[−]

Sears Holdings Corp. has sued its former chief executive Eddie Lampert, his hedge fund ESL Investment Inc. and other ESL and Sears directors for stripping the department store icon of its assets, according to The Wall Street Journal. The lawsuit alleges "bad-faith financial projections" even as Sears racked up more than $7 billion in losses between 2011 and 2014. It also accuses Lampert and other of trying take the most profitable Sears stores to spin off into Seritage Growth Properties. "ESL Investments, Inc. vigorously disputes the claims in the debtors' complaint," the group said in a statement emailed to MarketWatch. "ESL was a constant source of financing for Sears Holdings over many years, including through the extension of $2.4 billion in various secured financings to the company. All transactions were done in good faith, on fair terms, beneficial to all Sears stakeholders and approved by the Sears Board of Directors, made up of a majority of independent directors, as well as the company's Related Party Transactions Committee, which was itself comprised of independent directors and advised by separate independent financial and legal advisors." Other defendants include Treasury Secretary Steven Mnuchin, who is a former investor and executive at ESL. Sears filed for bankruptcy in October 2018. Sears stock has gained nearly 173% in 2019, trading at about 74 cents, but it has lost nearly 77% over the last year. The S&P 500 index is up almost 16% for the year to date.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


25. Baker Hughes reports a weekly decline in U.S. oil-rig count, the first in 3 weeksЧт., 18 апр.[−]

Baker Hughes on Thursday reported that the number of active U.S. rigs drilling for oil fell by eight to 825 this week. That followed increases in each of the previous two weeks. Rig data were released a day earlier than usual because markets are closed on Good Friday. The total active U.S. rig count also declined by 10 to 1,012, according to Baker Hughes. May West Texas Intermediate crude was trading down 11 cents, or 0.2%, at $63.65 a barrel, little changed from before the rig data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


26. Dow Jones Industrial Average stands less than 1% short of its all-time closing high in midday tradeЧт., 18 апр.[−]

The Dow Jones Industrial Average on Thursday midday was at the doorstep of a record close. At last check, the blue-chip index was less than 1% from its Oct. 3 peak, up 0.4% at 26,564, compared with its record put in last fall at 26,828.39, according to FactSet data. Thursday's climb was being supported by a rebound in shares of UnitedHealth Group Inc. , which has been taking it on the chin, along with the rest of the health-care sector, this week. UnitedHealth's stock was up 1.7% or $3.73, while shares of insurer Travelers Cos. Inc. , up 2.9%, or $3.91, also were helping the Dow creep toward a record, even after a brutal end to 2018 that saw the S&P 500 index and Nasdaq Composite Index all put in there most recent lows. All of the main U.S. equity benchmarks are within striking distance of all-time closing peaks.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


27. Constellation Brands warrants in Canopy Growth changed by deal--but it's still a positive, analyst saysЧт., 18 апр.[−]

Constellation Brands Inc. shares rallied Thursday, after Canadian cannabis company Canopy Growth Corp. announced a deal that will give it the rights to acquire U.S. multistate operator Acreage Holdings Inc. as soon as the U.S. federal ban on cannabis has been lifted. The deal brings changes to the terms of Constellation's warrants in Canopy, in which it has invested $4 billion, according to Wells Fargo analyst Bonnie Herzog. As part of that deal announced last August, Constellation Brands gained 38% ownership and received warrants that if exercised would raise that stake to above 50%. Herzog wrote in a note to clients that there are four key impacts from the modification of the warrants, three of which are positive and one slightly negative. On the positive side, the deal extends the exercise period for Constellation to five to eight years from three years previously, "suggesting less 'cash out the door'," for the Corona beer distributor. Also positive, the deal does not change Constellation's representation on the Canopy board in the form of four directors. The deal splits the Tranche B warrants into two parts, "75% of total will be exercisable at C$76.68 ($57.31)with the remainder kept at VWAP (volme weighted average price) - High exercise price (vs where CGC is currently trading at C$57.11) reflects STZ's strong confidence in its CGC investment," Herzog wrote. The slight negative is that the deal now caps Constellation's ownership at 50%, she said. "Net/net - We view today's announcement as positive and continue to believe STZ's involvement in cannabis/CGC positions them well to take a leading position in the global alcohol/cannabis industry over the next decade plus," said the analyst. Constellation shares were up 3.6%, and have gained 18% in the last 12 months, while the S&P 500 has gained 7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


28. Brigham Minerals shares climb 11% in trading debutЧт., 18 апр.[−]

Brigham Minerals Inc. shares climbed 11% in their trading debut Thursday, after the Austin, Texas-based oil and gas mineral rights and royalties company priced its initial public offering at the top of its price range. Brigham sold 14.5 million shares priced at $18 each to raise $261 million, after increasing the size of the deal by $1 million shares. The stock is trading on the New York Stock Exchange, under the ticker symbol "MNRL." Credit Suisse, Goldman Sachs, Barclays, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities acted as lead managers on the deal. Proceeds of the deal will be used to pay down debt and to acquire future mineral rights and royalties.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


29. Pinterest stock jumps 25% after IPOЧт., 18 апр.[−]

Pinterest Inc. shares are up 24% in their first day of trading after the company's initial public offering. The first trade was executed for $23.75 at 11:27 ET. Pinterest listed on the New York Stock Exchange and priced its IPO late Wednesday at $19 a share, above its expected range of $15 to $17 a share. The online image-sharing company saw its revenue jump to $755.9 million last year from $473 million a year prior. While it's posted a profit in its last two holiday quarters, it has yet to record a profit on an annual basis. Pinterest's IPO comes amid a 28% rise for the Renaissance IPO ETF so far this year and a 16% climb for the S&P 500 in that time.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


30. Zoom stock soars 75% after IPOЧт., 18 апр.[−]

Shares of Zoom Video Communications Inc. have jumped 75% in their first day of trading on Thursday. The first trade was executed for $65 at 11:23 ET. Zoom priced its initial public offering at $36 a share late on Wednesday, above an already-increased range of $33 to $35 a share. The videoconferencing company, which listed its shares on the Nasdaq, earned an adjusted profit of 3 cents a share in its latest fiscal year, on revenue of $330.5 million. Zoom's IPO comes as the Renaissance IPO ETF has gained 29% so far this year and as the S&P 500 has risen 16%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



 
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