Today we are watching…
1. Constellation Brands (#constb)
The movers, makers, and marketers behind alcoholic brands Corona and Svedka, recently made a massive play in the emerging weed business. Buying a 38% stake in Canopy Growth, Constellation Brands is putting the bong before the beer, and it may be in the clear! Investors are cheering on the company to beat earnings estimates of $2.07 in profit on $2.06 billion in revenue.
2. Ford (#ford)
The famous car maker just brought the axe down on over 12,000 jobs in Europe, indicating the extent of its efforts to right-size. This is a stinger for Ford workers, but the news sparks a stock recovery after being down a tenth this year. Spare a thought for these human sacrifices that as the company cruises toward electrification and utility crossover vehicles, investors will hope are enough to stem losses.