Stocks to Watch: Canopy Growth, Metropolitan Bank, Netflix
By Dean Seal
Canopy Growth said Thursday that three of its directors, who were each nominated by Constellation Brands, have resigned in connection with Constellation converting its equity stake in the company from common shares to a new class of exchangeable shares. The exchangeable shares won't carry any voting rights or rights to receive dividends, but can be converted back to common stock at Constellation's discretion. Constellation Chief Executive Bill Newlands said the move is aligned with the company's intent to "not deploy additional investment in Canopy." Canopy shares fell 7%, to $7.28, in aftermarket trading.
Metropolitan Bank posted earnings of $1.46 a share for the first quarter, topping analyst projections for $1.31 a share, according to FactSet. Net interest income ticked up to $59.7 million, ahead of forecasts for $58.8 million, and also rose sequentially due to loan growth and higher yields. Shares rose 12%, to $37, in post-market trading.
Netflix guided for $9.49 billion in sales for the second quarter, behind analyst estimates for $9.52 billion, according to FactSet. Its first-quarter results meanwhile topped projections. Shares slid 4.9%, to $580.99, after hours.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
April 18, 2024 18:54 ET (22:54 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
After Earnings, Is Lyft Stock a Buy, a Sell, or Fairly Valued?
-
8 Stock Picks in the Apparel Industry
-
Baidu Earnings: Advertising Weakness Offset by Continued Growth In Cloud Business
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing