Yahoo Finance Today’s Research Reports on Stocks to Watch: Sears Holdings and Canopy Growth
NEW YORK, NY / ACCESSWIRE / August 16, 2018 / Sears Holdings fell hard after CEO Eddie Lampert and his hedge fund ELS revealed it wants to buy the Kenmore brand for $400 million and the Home Services division for as much as $80 million. Shares of Canopy Growth were skyrocketing on news that Constellation Brands has invested even more money into the company.
RDI Initiates Coverage on:
Sears Holdings Corporation
https://rdinvesting.com/news/?ticker=SHLD
Canopy Growth Corporation
https://rdinvesting.com/news/?ticker=CGC
Sears Holdings Corporation shares closed down 13.11% on about 2.3 million shares traded on Wednesday. The struggling retailer saw its shares drop after Wall Street learned that the hedge fund operated by the company's CEO, Eddie Lampert, wants to buy Sears' Kenmore brand for $400 million. The hedge fund also wants to buy the home improvement business of the Home Services division for as much as $80 million. Lampert wants to complete the deal in less than 10 days. Lampert and his hedge fund ELS wrote, "We are prepared to move as quickly as possible to complete our due diligence for transactions involving Kenmore and SHIP and to enter into definitive agreements related thereto as early as August 24, 2018. ... Speed and certainty here are critical." He also wrote, "Together, we believe these transactions would contribute to a comprehensive solution to create a viable and healthy Sears and would provide greater value to all stakeholders than would be available in pursuing other alternatives."
Access RDI's Sears Holdings Corporation Research Report at:
https://rdinvesting.com/news/?ticker=SHLD
Canopy Growth Corporation shares closed up 30.42% on about 35.5 million shares yesterday. The Canadian marijuana company saw its share price explode after liquor seller Constellation Brands Inc. said it would invest another CAD $5 billion, or about $4 billion, into the company. According to Wells Fargo analyst Bonnie Herzog, the news is "very positive" and the right move for Constellation Brands. She said, "While there could be some cannibalization risk for Constellation Brands beer/alcohol portfolio, we believe the strategic partnership will ultimately be incremental to Constellation Brands' core business, especially as the deal opens the door to tremendous white space opportunities globally – beyond Constellation Brands' current U.S. limits with its core brands." Canopy said it would use the proceeds to build or acquire assets needed to create global scale in almost 30 countries that are pursuing legal medical cannabis programs and to lay the foundation for emerging recreational cannabis markets.
Access RDI's Canopy Growth Corporation Research Report at:
https://rdinvesting.com/news/?ticker=CGC
Our Actionable Research on Sears Holdings Corporation (NASDAQ: SHLD) and Canopy Growth Corporation (NYSE: CGC) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
