Proactive Investors - Run By Investors For Investors

Small-Cap Snapshot: Weight Watchers company declines after JPMorgan downgrade to Neutral

Cannabis company Aphria rallied after its net revenue more than doubled from a year earlier
Oprah Winfrey
Shareholders of WW International include Oprah Winfrey

WW International Inc (NASDAQ:WTW), still known to many people as Weight Watchers, fell Friday as JPMorgan Chase & Co (NYSE:JPM ) downgraded the company to Neutral from Overweight. Last year the company renamed itself to reflect a shift in focus to overall health from weight loss. Shareholders include Oprah Winfrey.

The stock decreased $1.82, or 5.2%, to $33.29.

READ: Weight Watchers and Avon Products both go for a modern makeover

Aphria Inc (NYSE:APHA) climbed after the Canadian medical marijuana producer reported strong results. For the three months ended November 30, net revenue more than doubled to C$21.7 million (US$16.4 million) from a year earlier. The company recently received a hostile bid of C$2.8 billion (US$2.1 billion) from US cannabis retailer Green Growth Brands Ltd.

Shares rose $0.27, or 4.1%, to $6.85.

SYNNEX Corp (NYSE:SNX) rallied a day after reporting fourth-quarter revenue that beat the estimates of analysts. For the three months ended November 30, the Fremont, California-based business process services company posted revenue of $5.62 billion, up from $5.31 billion a year earlier. The average estimate of analysts was $5.43 billion. Net income increased to $113 million, or $2.41 per share, from $91 million, or $2.26 per share. CEO Dennis Polk said on a conference call that the revenue reflected solid performance, stable marketplaces and excellent execution.

Shares of SYNNEX climbed $12.11, or 14%, to $98.94.

Tilray Inc (NASDAQ:TLRY) soared after the Nanaimo, British Columbia-based cannabis company’s largest stakeholder, Privateer Holdings, said it won’t sell shares in its investment during the first half of 2019. Since the July initial public offering at $17 per share, Tilray has been on a rollercoaster ride, having reached a 52-week high of $300 in September before pulling back.

The stock gained $18.26, or 23%, to $98.66.

The Russell 2000 index of small-cap stocks was little changed at 1,445.36 on Friday.

Contact Dennis Fitzgerald at [email protected]

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here

Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use