Canopy Growth CEO says cannabis beverages can be bigger than hard seltzer

The worlds largest cannabis company Canopy Growth (CGC) saw shares fall another 5% Monday after cratering 20% following Friday’s fourth-quarter results, which disappointed against even its own revenue guidance.

Analysts at Stifel Nicolaus cut Canopy to a Sell rating while Morningstar maintained its “No moat” rating on the Ontario-based cannabis giant, indicating an unlikely differentiation from an already struggling cannabis sector, while conceding there remains long-term upside potential if the company can convert customers from the illegal black market.

Canopy Growth CEO David Klein focused on that opportunity in a recent Yahoo Finance Presents interview, noting that company’s recently launched cannabis beverages were off to a hot start. The company, which is backed by alcohol giant Constellation Brands, (STZ) is betting its new cannabis-infused beverages can grow to dwarf even the exploding hard seltzer industry by offering an even healthier alternative to beer.

“The drinks that we have in the

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Here’s why Williams-Sonoma’s 2.6% same store sales growth is particularly extraordinary

Home interior and furnishing retailer Williams-Sonoma (WSM) is gaining market share as people shop online to spruce up their homes during the pandemic.

“This allowed Williams-Sonoma to deliver 2.6% same store sales growth, helped by e-commerce growth that reached more than 30%, leading total sales to decline less than 1% despite dislocation from coronavirus,” wrote Morningstar analyst Jaime K Katz in a note to investors.

The company’s first quarter results ending May 3 stand out given the latest economic data shows retail sales in the U.S. plunged in April as consumers pulled back on spending.

“Moreover, this implies market share gains continue, as the home furniture and furnishings industry averaged a 25% decline (census) over the same period,” wrote Katz.

[To read the full report from Morningstar, sign up for Yahoo Finance Premium. Click here to start your free trial and step up your investing.]

Williams-Sonoma leaned heavily into

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US home price growth picked up in March despite COVID-19

Home price growth in the US accelerated in March, leading into the widespread lockdowns imposed by states to deter the spread of the novel coronavirus. 

Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index posted a 4.4% annual gain in March, up from 4.2% a month earlier. The 20-City Composite posted a 3.9% annual gain, up from 30.5% in February — beating analysts’ estimates of 3.4%, according to Bloomberg. However,  the 20-City Composite really represents 19 cities because there were delays in transaction records for the Detroit metro area (Wayne County, Mich.) due to the novel coronavirus. 

“Housing prices continue to be remarkably stable,” said Craig J. Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices, in a press statement, adding that the gains continue “a trend of gently accelerating home prices that began last autumn. March results were

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‘Dreadful’ April retail sales means Q2 growth may take an even bigger hit

Given the coronavirus’s diffuse impact on the U.S. economy, it was hard to imagine how expectations for U.S. growth could sink any lower. Yet after Friday’s horrific (and historic) 16.4% plunge in April retail sales, those forecasts may fall over a cliff. 

The data — which threw into stark relief the effects of restrictive stay-at-home orders that kept consumers at home and most businesses shuttered — has Wall Street economists worried that second quarter gross domestic product (GDP) will be even worse. 

Consumer spending is the fuel that powers the world’s largest economy, to the tune of 70%. For years, economists have warned the dynamic wasn’t sustainable. Now, those predictions may be coming home to roost as COVID-19 crisis decimates employment and spending, while elongating the anticipated timetable for a recovery. 

“We already know from the dreadful employment figures that services spending was hammered hard again in April,” Michael Pearce,

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Lyft Q1 2020 revenue sees 23% growth despite coronavirus: Tech

Wednesday, May 7, 2020

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Taxi driver Nicolae Hent, wearing a protective mask, poses for a photograph before before starting work in New York, Monday, April 6, 2020. A taxi driver’s job was already tougher in recent years with the arrival of ride-sharing companies such as Uber and Lyft. The empty streets during the coronavirus pandemic have made things more difficult. (AP Photo/Matt Rourke)

Lyft Q1 2020 revenue sees 23% growth despite coronavirus: Lyft reported its Q1 2020 earnings after the bell on Wednesday, posting 23% year-over-year revenue growth, and giving investors and analysts their first look at how the ride sharing industry has fared throughout the coronavirus pandemic. READ MORE

Peloton smashes Wall Street’s sales and operating profit forecasts

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