Constellation Brands CEO Bill Newlands said that the company is bullish on the Canadian cannabis market despite its Canopy Growth investment weighing on profits again.
Constellation on Wednesday reported fiscal third-quarter net income of $366.5 million, dragged down by $71.1 million loss on its investment in Canada-based Canopy Growth. The alcoholic beverage company has reported a loss on its stake in Canopy in all three quarters of its fiscal 2020.
Shares of Constellation, which has a market value of $36.2 billion, were still trading up 4% in midday trading WednesdayConstellation invested $4 billion in Canopy in October 2017, but last year, Newlands said that he was not pleased with Canopy's results.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Cannabis startup pulls out of CES tech show amid limitsA Canadian cannabis tech company has pulled out of the CES gadget show after being given constraints on how it could promote its products.
Consulte Mais informação »
Marianne Williamson on whether to drop out of presidential race: 'There are decisions to be made.'Democratic presidential candidate Marianne Williamson on whether to drop out of race: 'There are decisions to be made.'
Consulte Mais informação »
2020 BAFTA Nominees: See the Full ListThe British Academy has weighed in on the year's best films.
Consulte Mais informação »
Grain trader Cargill's second quarter profits jump as global meat demand risesCommodities trader Cargill Inc [CARG.UL] on Tuesday posted a quarterly profit ri...
Consulte Mais informação »
Earnings Preview: Wall Street Banking On Profits To Rebound In 2020After flat earnings growth in 2019, corporate profits are expected to rebound in 2020.
Consulte Mais informação »
Earnings Preview: Wall Street Banking On Profits To Rebound In 2020After flat earnings growth in 2019, corporate profits are expected to rebound in 2020 by skleb1234
Consulte Mais informação »