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Major stock indexes rose on Wednesday as new government data showed durable goods orders rose 0.4%, better than expected, in January. the S & P 500 (SNPINDEX: ^ GSPC) and the Dow Jones Industrial Average (DJINDICES: ^ DJI) both posted modest gains.
Stock Market Today
Index | Percentage variation | Point change |
---|---|---|
Dow | 0.58% | 148.23 |
S & P 500 | 0.69% | 19.40 |
Technology stocks also jumped, leaving the SPDR Select Technology Fund (NYSEMKT: XLK) up 0.7%. Industrial names rebounded after a particularly difficult session Tuesday, with the SPDR Select Industrial Sector Fund (NYSEMKT: XLI) jumping 0.9%.
As for individual stocks, Aurora Cannabis (NYSE: ACB) appeared after hiring a promising new strategic advisor, Vera Bradley (NASDAQ: VRA) flamed on a strong quarterly report.
Aurora Cannabis hires Nelson Peltz
Aurora Cannabis shares rose 13.9% after the marijuana producer named Nelson Peltz – a billion dollar activist investor and founding partner and CEO of investment firm Trian Fund Management – strategic advisor.
Aurora announced that it would work with Peltz both on its global expansion strategy and on "exploring potential partnerships that would constitute the optimal strategic solution for a successful entry into each of the market segments. envisaged by Aurora ".
"I think Aurora has a strong track record of execution, is highly differentiated from peers, has successfully integrated into the value chain and is ready to take the next level to the next level." a whole series of industry sectors, "added Peltz. "I also believe that licensed Canadian producers, and Aurora in particular, are well positioned to play a leading role in the development of the international cannabis industry as regulations evolve, with a strong business model and reproducible on a global scale. "
Aurora also granted options to Peltz to acquire approximately 20 million Aurora common shares at a price of C $ 10.34 per share.
The upscale neighborhood of Vera Bradley
Vera Bradley shares rose 21.8% after the leader in luxury handbags and accessories announced better-than-expected fourth-quarter 2019 results and strong forecasts.
Vera Bradley's quarterly revenues fell 10.5% from the previous year, to $ 118.2 million, close to the top of the range of 114 and $ 119 million. Net income edged up to $ 8.6 million, or $ 0.25 per share, also leading expectations for earnings per share of $ 0.22 to $ 0.25.
President and CEO Robert Wallstrom said he was "satisfied" with the company's performance, particularly because of the combination of high revenues, a higher gross margin than expected, and a lack of money. solid expense management.
Vera Bradley is forecasting revenues in the range of $ 420 million to $ 440 million for fiscal year 2020, which is expected to grow by 0.9% to 5.7% over 12 months. This should result in earnings per share of $ 0.64 to $ 0.74, up from $ 0.59 per share in fiscal 2019. The forecast was higher than the consensus forecast of analysts who expected on a turnover of 405.4 million USD for the fiscal year 2020 and a profit of 0.60 USD per share. .
Steve Symington has no position in any of the mentioned actions. The Motley Fool has no position in any of the actions mentioned. Motley Fool has a disclosure policy.
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