Ferrari - Ferrari unveiled details about its first electric vehicle, tentatively named Elettrica, which will feature in-house-developed electric motors producing 1,000 horsepower and accelerating from 0 to 62 mph in 2.5 seconds [4] - The Elettrica will have a range exceeding 323 miles and a top speed of 192 mph, powered by a 122-kWh battery pack [4] - A unique sound system will replicate the signature Ferrari roar using real powertrain vibrations, distinguishing it from other electric vehicles [4] - Ferrari has revised its forecast for electric vehicles, now expecting them to comprise 20% of its lineup by 2030, down from a previous target of 40% [5] PepsiCo - PepsiCo exceeded Q3 earnings expectations and appointed a new CFO, with Walmart U.S. CFO Steve Schmitt set to take on the role [5] - The company anticipates a low-single-digit increase in full-year organic revenue and core constant currency EPS to be about even with the prior year [6] Delta Air Lines - Delta Air Lines reported strong Q3 results, driven by premium, corporate, and loyalty segments, and expects Q4 top and bottom lines to surpass current forecasts [7] Nvidia - Nvidia received a Street-high price target of $300 from Cantor analyst C.J. Muse, who reiterated it as a Top Pick Overweight, citing strong customer demand for computing resources [7] Cannabis Stocks - Cannabis stocks are rising following Tilray Brands' first revenue beat in four quarters, positively impacting Canopy Growth, Aurora Cannabis, and SNDL [7] Silver Market - Spot silver prices have surpassed $50 per ounce for the first time since 2011, driven by industrial demand, supply tightness, and economic uncertainty [7] Rare Earth Exports - China has tightened regulations on rare earth exports, crucial for high-tech products, with new rules likely denying licenses to arm makers and some semiconductor companies [7] Hollywood and AI - The Creative Artists Agency expressed concerns over OpenAI's video-generating tool Sora, stating it poses significant risks to artists and emphasizes the need for compensation and credit for creative work [7] Short Opportunities - J.P. Morgan identified Mobileye Global and Skyworks Solutions as top tech shorts, citing valuation concerns and underperformance relative to the semiconductor group [7]

After a years-long slump the cannabis industry is ready for a second look, according to a Canaccord Genuity analyst who kicked off coverage by rating four out of five cannabis stocks as buys https://t.co/5S9a1SFqSF ...

Market Overview - US stocks reached record highs, but concerns about the AI trade being a bubble are emerging [1][2][7] - The Dow is down approximately 140 points, with slight declines in the S&P 500 and Nasdaq [2][4] - Bond yields are increasing, and the US dollar is strengthening despite the debasement trade [3][4] AI Trade Insights - Seport Research Partners suggests the AI trade is in the early stages of a bubble, driven by spending from six major companies: Amazon, Google, Meta, Microsoft, OpenAI, and Oracle [7][8] - OpenAI is noted for its lack of cash flow, raising concerns about its sustainability compared to other companies in the bubble [9][12] - Oracle's recent decision to take on debt to fuel growth is seen as a sign of bubble acceleration, which can amplify both gains and losses [11] - The aggressive deal-making by OpenAI is prompting other companies to spend heavily to keep up, potentially prolonging the bubble [14][15] Airline Industry Developments - Delta Airlines reported strong third-quarter results, with revenue up 15.2% year-over-year, driven by premium and business segments [39][40] - The CEO expressed confidence in business travel recovery, with 90% of business customers expecting to travel the same or more next year [40] - Concerns about the impact of the government shutdown on air travel persist, with potential disruptions if the shutdown continues [44][49] Consumer Sector Analysis - PepsiCo narrowly topped earnings estimates, but faces challenges in its snack business due to price sensitivity among middle and lower-income consumers [95][97] - The company is expected to make price adjustments or increase promotions to address volume challenges [99][104] - The snack sector is seeing a shift towards private label products as consumers seek better value [109] Technology Sector Updates - Ferrari shares dropped significantly after issuing a cautious forecast and scaling back electrification ambitions [60][61] - Tesla is under federal safety probe regarding its full self-driving system, affecting approximately 2.9 million vehicles [62] - Serve Robotics is expanding its delivery partnership with DoorDash, moving beyond its previous collaboration with Uber Eats [63]

Market Overview - Pre-market earnings are flat-to-down, with the Dow down 16 points, S&P 500 up 1 point, and Nasdaq down 4 points, while the small-cap Russell 2000 is down 2 points [1] Employment Data - Weekly Jobless Claims numbers are absent for the second consecutive week; the last reported figure showed a drop from 264K to 218K, a decrease of 46K [2] - Continuing Claims have stabilized around 1.93 million, below the 13-week range of 1.94-1.975 million [2] Retail Sector Insights - CNBC's NRF Retail Monitor report for September indicates a decline in retail and restaurant sales by 0.7%, following a 0.5% increase in August; core retail sales also fell by 0.5% from a previous increase of 0.3% [3][4] - The year-over-year growth for retail sales has decreased to 5.4% for headline and 5.7% for core, down from 6.8% and 6.7% respectively a month ago, indicating a healthy spending level despite the recent declines [4] Q3 Earnings Reports - Delta Air Lines reported Q3 earnings of $1.71 per share, exceeding the $1.52 analysts' expectations, with revenues of $16.67 billion, surpassing the Zacks consensus by 5.61% and up from $15.68 billion year-over-year [5][6] - Delta has raised its Q4 earnings guidance to a range of $1.60-1.90 per share, leading to an 8% increase in shares during pre-market trading [6] - PepsiCo reported Q3 earnings of $2.29 per share, slightly above consensus estimates, with revenues of $23.94 billion, outperforming expectations by 0.25%; however, shares are down 8% year-to-date [7] - Tilray reported fiscal Q1 earnings of $0.00 per share, exceeding expectations of -$0.03, with revenues of $210 million, up from anticipated $206.8 million; non-medical cannabis revenues increased by 12% year-over-year, resulting in an 18% rise in shares during pre-market activity [8]

Core Insights - Tilray Brands Inc. reported better-than-expected first-quarter 2026 earnings, achieving break-even compared to a consensus loss of 2 cents per share, with adjusted net income of $3.9 million versus an adjusted net loss of $(6.1) million [1] - Adjusted EBITDA increased by 9% year over year to $10.2 million, up from $9.3 million [1] Revenue Performance - Net revenue rose by 5% to $209.5 million, exceeding the consensus estimate of $204.55 million [2] - Cannabis net revenue increased by 5% to $64.5 million, compared to $61.2 million [2] - Beverage net revenue was slightly down at $55.7 million compared to $56.0 million [2] - Wellness net revenue increased to $15.2 million from $14.8 million [2] - Distribution net revenue grew to $74.0 million from $68.1 million [2] Margin and Debt Management - Gross margin contracted from 30% to 27% [3] - The company reduced its debt by $7.7 million, improving its balance sheet, with a net debt to trailing twelve months adjusted EBITDA ratio of 0.07x [4] - Tilray holds a cash balance of $264.8 million, providing flexibility for strategic opportunities [4] Market Activity - Tilray's stock surged by 29.36%, reaching $2.23 [5] - The company announced the expansion of its Tilray Craft portfolio in Germany with five new cannabis flower products [5]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2][3] - The news team covers key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] - Proactive focuses on medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [2][3] Group 2 - The team delivers news and insights across various sectors including biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] - Proactive adopts technology to enhance workflows and improve content production [4][5] - All content published by Proactive is edited and authored by humans, ensuring adherence to best practices in content production and search engine optimization [5]

Financial Data and Key Metrics Changes - The company reported record first-quarter net revenue of $210 million, a 5% increase year over year, driven by increased cannabis sales in Canada and international markets [31][36] - Net income for the quarter was $1.5 million, compared to a net loss of $34.7 million in the prior year period, indicating a significant turnaround in profitability [35][36] - Adjusted EBITDA for the quarter improved to $10.2 million from $9.3 million last year, reflecting operational efficiency [36] Business Line Data and Key Metrics Changes - Cannabis revenue increased by 5% year over year to $64.5 million, supported by a 12% growth in adult use gross revenue and a 10% growth in international cannabis [31][36] - Beverage revenue reached $55.7 million, impacted by SKU rationalization but supported by new product contributions [32][36] - Wellness revenue grew by 3% year over year to CAD 15.2 million, driven by innovations in health-focused products [32][36] Market Data and Key Metrics Changes - The Canadian cannabis business reported revenue up 4% year over year to $51 million, reinforcing its position as the largest legal cannabis company in Canada by revenue [12][36] - International cannabis revenue grew by 10% year over year to $13.4 million, despite permit challenges in Portugal [14][36] - The distribution segment's revenue increased by 9% year over year to CAD 74 million, primarily due to a stronger euro [32][36] Company Strategy and Development Direction - The company aims to leverage its global platform to drive innovation in cannabis, beverage, and wellness sectors, focusing on sustainable growth and operational efficiency [5][7] - The strategic focus includes optimizing the craft beer SKU portfolio under Project Four Twenty, which has already realized $25 million in annual savings [20][21] - The company is well-positioned to capture growth opportunities in the U.S. medical cannabis market, anticipating a potential market share of 3% to 5% in a $10 billion market [11][36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the evolving regulatory landscape for cannabis, particularly in the U.S. and Europe, which could enhance patient access and market opportunities [10][11] - The company is confident in its ability to adapt to regulatory changes and is committed to continuous innovation and portfolio expansion [28][36] - Management acknowledged the challenges faced in the beverage segment but emphasized the long-term potential for growth and profitability [20][36] Other Important Information - The company reduced its outstanding debt by $7.7 million during the quarter, bringing its net debt to $3.9 million, which enhances financial flexibility for strategic opportunities [36][37] - The company has built a diversified global platform with over 40 unique brands in more than 20 countries, positioning itself as a leader in the cannabis, beverage, and wellness markets [8][9] Q&A Session Summary Question: International growth opportunities and permit delays - Management noted progress in obtaining permits in Portugal and expressed optimism about increasing production capacity in both Portugal and Germany [41][43][44] Question: Rescheduling opportunities in the U.S. - Management indicated readiness to leverage existing infrastructure and explore partnerships or acquisitions to capture opportunities in the U.S. medical cannabis market [48][51] Question: Canadian adult use market dynamics - Management highlighted a 1.3% decline in overall market pricing, with their pricing up 2% and volume growth of 6.5%, indicating strong performance relative to the market [67][70] Question: Beverage segment profitability improvement plans - Management discussed ongoing efforts in SKU rationalization and integration of acquired brands to improve margins in the beverage segment [75][78] Question: Managing risks in Portugal and Germany - Management emphasized commitment to the Portuguese market while also having contingency plans in Germany, including the ability to ship from Canada [81][84][90]

Core Insights - The company reported a net income of $1.5 million for the first fiscal quarter of 2026, with adjusted EBITDA increasing by 9% to $10 million, and a significant improvement in net cash used in operations by $34 million year-over-year [1][3][5]. Financial Performance - Net revenue rose by 5% to $209.5 million compared to $200.0 million in the previous year [5][26]. - Gross profit decreased to $57.5 million from $59.7 million, resulting in a gross margin of 27%, down from 30% [5][26]. - Cannabis net revenue increased by 5% to $64.5 million, while cannabis gross profit fell to $23.3 million, leading to a gross margin of 36%, down from 40% [5][30]. - Beverage net revenue was $55.7 million, slightly down from $56.0 million, with a gross profit of $21.3 million and a gross margin of 38%, down from 41% [5][30]. - Wellness net revenue increased to $15.2 million from $14.8 million, maintaining a gross margin of 32% [5][30]. - Distribution net revenue grew to $74.0 million from $68.1 million, with a gross margin of 11%, down from 12% [5][30]. Operational Efficiency - The company improved its cash flow, with cash used in operations significantly reduced to $(1.3) million from $(35.3) million [3][28]. - The balance sheet was strengthened with a cash balance of $265 million and net debt reduced to $4 million [1][4]. Strategic Outlook - The company reiterated its fiscal year 2026 adjusted EBITDA outlook of $62 million to $72 million [1]. - The CEO expressed confidence in the company's ability to capitalize on transformative opportunities in the evolving cannabis landscape, particularly in the U.S. and Europe [2]. Market Position - Canadian adult-use cannabis gross revenue increased by 12%, maintaining the company's 1 position in revenue and expanding market share, while international cannabis revenue grew by 10% year-over-year [1].

Core Insights - Organigram Global Inc. has launched a new brand called happly, targeting consumers interested in 'mindful recreation' with THC products [1] - This launch marks the company's third U.S. hemp-derived delta-9 brand, expanding its presence in the U.S. hemp-derived THC market [1] Company Developments - Organigram is recognized as Canada's leading cannabis company by market share [1] - The introduction of happly follows the company's previous entry into the U.S. market with its Collective Project sparkling juices [1]

Core Insights - Tilray Brands Inc. (NASDAQ:TLRY) experienced a significant increase in share price, rising by 8.23% to $1.71, as investors adjusted their portfolios in anticipation of a decision from President Donald Trump regarding the legalization of cannabis and CBD products [1][3]. Group 1: Market Reaction - Investors are actively investing in cannabis product manufacturers, including Tilray Brands Inc., Canopy Growth, Cronos Group, and Aurora Cannabis, in light of a positive decision expected soon [2]. - The rise in Tilray's stock price reflects broader market optimism surrounding potential cannabis legalization, driven by Trump's recent promotion of cannabis and CBD for medical use [3]. Group 2: Policy Implications - Trump's social media video highlighted the potential benefits of CBD oil, suggesting it could transform senior healthcare and reduce medical costs in the U.S. by $64 billion, which has influenced investor sentiment [3].