Do you cough every time you try to smoke weed? Do your stoner buddies make fun of you? Well, good news: While your friends destroy their lungs with toxic marijuana smoke, you could soon be able to drink your way to a pleasant high, now that Molson Coors Canada is teaming up with marijuana grower Hydropothecary Corp. to develop cannabis-infused, non-alcoholic beverages. Hydropothecary investors will drink to that.
HEXO - TSX, $4.67, up $0.55, or 13.35%
Business quiz! Apple’s market value topped US$1-trillion - a first for a public U.S. company - after it: a) sold 41.3 million iPhones in the fiscal third quarter at an average price of US$724 - about US$30 higher than expected - thanks to strong sales of the pricey iPhone X; b) forecast revenue of US$60-billion to US$62-billion in the fourth quarter, exceeding analyst estimates; c) hinted that it will soon launch a video service to compete with Netflix and Amazon. Answer: all of the above.
AAPL - Nasdaq, US$207.99, up US$17.01, or 8.91%
EnerCare sells, rents and services air conditioners - and investors are going to need one ‘cause the stock price is so hot. Shares of the company - which also deals in furnaces, water heaters and appliance-protection plans - soared after Brookfield Infrastructure Partners agreed to buy the home and commercial services provider for $4.3-billion or $29 a share - a 53-per-cent premium to Enercare’s price before the deal was announced. Turn up the A/C!
ECI - TSX, $28.86, up $9.99, or 52.94%
Looking for a scary thrill ride this summer? You could head over to the amusement park - or just buy a few shares of Shopify. Already struggling in the wake of Facebook’s share price collapse, Shopify’s stock plunged again this week when the provider of e-commerce services to online merchants posted a second-quarter loss of US$24-million amid rising costs and slowing growth. With the stock down about 29 per cent since July 25, investors want off of this ride.
SHOP - TSX, $184.10, down $25.37, or 12.11%
Gildan Activewear (STAR)
Bad: dreaming that you showed up at work in your underwear. Good: owning shares of underwear maker Gildan Activewear. Helped by strong international shipments, the company - which also makes socks, T-shirts, sweatshirts, fleece and other basics - posted a 6.8-per-cent increase in sales for the second quarter as earnings topped estimates. With Gildan now expecting full-year earnings to come in at the high end of its guidance range, the only thing investors are dreaming about is making money.
GIL - TSX, $40.41, up $6.64, or 19.66%