Diamonds and Dogs
Aurora Cannabis (ACB) hires a hedge-fund manager, Nelson Peltz. The Canadian cannabis company is up 12% to a five month high on hopes Nelson Peltz, hired as an adviser, can seal new cooperation agreements to help Aurora expand globally and get into new market segments like beverage, wellness and pharma. The analyst at Jefferies said the news bolsters his view of Aurora as well positioned to become a global leader in their sector.
Adidas (ADDYY) has supply chain issues. The German footwear maker is down 3%, stuck in the middle of a trading range, following earnings. Earnings rose 20% year over year as sales rose 3% to 21.915 billion Euros. Adidas has put a big focus on the U.S. market in recent years, teaming up with celebrities such as Kanye West and Pharrell Williams, poaching designers from Nike and pushing retro styles that have proved more popular than Nike's basketball shoes. The downside is, the Asian suppliers, have not been able to keep up especially as the company has expanded from high-end products into more mid-priced clothing ranges in the U.S. market. I guess that's not the worst problem to have.