Canopy Growth Slips To Loss In Q1
(RTTNews) - Canopy Growth Corp. (CGC, WEED.TO) reported that its first-quarter net loss attributable to the company was C$2.08 million or C$5.23 per share, compared to net income of C$0.39 million or C$0.84 per share in the prior-year quarter.
On average, six analysts polled by Thomson Reuters expected the company to report a loss of C$0.29 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenue for the quarter declined 19 percent to C$110.12 million from C$136.21 million in the same quarter last year. Analysts expected revenues of C$112.70 million for the quarter.
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Canopy Growth Q4 Loss Sharply Narrows
Cannabis company Canopy Growth Corp. (CGC, WEED.TO) reported that its fourth-quarter net loss attributable to the company was C$92.34 million or C$1.03 per share, sharply wider than C$640.08 million or C$12.83 per share in the prior-year quarter.
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The Canadian market ended notably lower on Friday, weighed down by losses in energy, industrials and materials sectors, and on uncertainty about Federal Reserve's interest rate trajectory.
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Dollar Turns In Mixed Performance Against Major Counterparts
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Canadian Shares Notably Lower
The Canadian market is down in negative territory Friday afternoon with stocks from several sectors reeling under sustained selling pressure amid uncertainty about U.S. interest rate cuts after dovish comments from Fed Chair Jerome Powell.
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Swiss Market Ends Lower On Growth Concerns
Swiss stocks tumbled on Friday, weighed down data showing a slowdown in growth, and uncertainty about Fed interest rate cuts following hawkish comments by the central bank chair Jerome Powell.
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U.S. Dollar Strengthens After Strong Retail Sales Data
The U.S. dollar climbed against its most major counterparts in the New York session on Friday, following the release of the latest batch of economic data, including a Commerce Department report showing retail sales increased by slightly more than expected in October.
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European Stocks Close Lower On Rate Cut Uncertainty, Growth Concerns
European stocks closed lower on Friday, weighed down by concerns about the outlook for U.S. interest rate cuts following Federal Reserve Chair Jerome Powell's hawkish comments. Disappointing economic data from China weighed as well.
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U.S. Business Inventories Inch Up Slightly Less Than Expected In September
With a jump by retail inventories partly offset by dips by manufacturing and wholesale inventories, the Commerce Department released a report on Friday showing U.S. business inventories crept up by slightly less than expected in the month of September. The Commerce Department said business inventories inched up by 0.1 percent in September after climbing by 0.3 percent in August.
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