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MarketWatch MarketPulseApr 18, 2019
Canopy confirms $3.4 billion deal to buy Acreage, once cannabis becomes legal in the U.S.
Canada-based Canopy Growth Corp. confirmed Thursday a deal for the right to buy New York-based Acreage Holdings Inc. in a deal that valued at $3.4 billion, when the production and sale cannabis becomes federally legal in the U.S. Canopy's stock soared 8.7% in premarket trade. MarketWatch had reported Wednesday, citing a source familiar with the negotiations, that the deal for the rights to buy Acreage was "98% done." Canopy said the purchase price represents a 41.7% premium over the 30-day volume-weighted average price of Acreage's subordinate voting shares. The deal includes a $150 million termination fee, payable by Acreage. "Today we announce a complex transaction with a simple objective," said Canopy Chief Executive Bruce Linton. "Our right to acquire Acreage secures our entrance strategy into the United States as soon as a federally-permissible pathway exists." Canopy's stock has run up 59.5% year to date through Wednesday and Acreage's stock has climbed 17.5%, while the ETFMG Alternative Harvest ETF has rallied 36.7% and the S&P 500 has gained 15.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

MarketWatch MarketPulseApr 18, 2019
Dow, S&P 500 open in record territory as investors watch for Pinterest, Zoom IPOs
U.S. stocks opened modestly higher Thursday morning as investors weighed a stream of data and economic reports, in the final day of trading this week. (Markets will be closed in observance of Good Friday). The Dow Jones Industrial Average rose 92 points, or 0.4%, at 26,538, the S&P 500 index advanced 0.2% at 2,904, while the Nasdaq Composite Index traded flat at 7,995. All three equity gauges were within striking distance of records. Although investors will be tracking the report linked to Special Counsel Robert Mueller's investigation into Russian election interference during President Donald Trump's 2016 campaign, investors are mostly focused on earnings and the health of the U.S. economy. Thus far, earnings have been OK, with first-quarter earnings improving somewhat, according to CFRA, which said consensus estimates now call for a 2.3% fall in first-quarter operating earnings per share, or EPIS, up from estimates for a 3% drop ahead of the kickoff of earnings season, but down from the 4.5% increase projected at the end of last year. On the economic front, jobless claims slipped by 5,000 to 192,000 in the seven days ended April 13, falling to a 50-year low, the government said Thursday. Economists polled by MarketWatch forecast a 204,000 reading. Separately, A reading of retail sales soared 1.6% last month, the government said Thursday. Economists polled by MarketWatch expected sales to climb 1.1%. On the corporate front, Zoom Video Communications and social-image share site Pinterest Inc. were set to officially go public Thursday. Check out: Live coverage of the Mueller report, Barr news conference

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

MarketWatch MarketPulseApr 18, 2019
Google's YouTube app to be launched on Amazon's Fire TV, Prime Video to be on Chromecast, Android TVs Inc. and Alphabet Inc.'s Google said Thursday the official YouTube app will be launched on Amazon Fire TV, Fire TV smart TVs and Prime Video app "in the coming months," for streaming on Chromecast and Chromecast devices. Prime Video will become available on Android TV, and the YouTube TV and YouTube Kids apps will be available on Fire TV later this year. "We're excited to bring the Prime Video app to Chromecast and Android TV devices, and to give our customers convenient access to the shows and movies they love," said Andrew Bennett, head of worldwide business development for Amazon's Prime Video. Shares of Amazon were down 0.1% in premarket trade and Alphabet inched up 0.1%, while futures for S&P 500 edged up 0.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

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