Stock Market News: Canopy Takes a Hit; Walmart's Happy for the Holidays
The string of fairly muted movements in stock prices continued on Thursday morning. Investors stayed in a holding pattern as they await more definitive news on vital issues like trade, geopolitics, and macroeconomic conditions. As of 11 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 31 points to 27,753. The S&P 500 (SNPINDEX: ^GSPC) fell 1 point to 3,093, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) moved lower by 18 points to 8,464.
Yet there was still plenty going on at the individual stock level. Canopy Growth (NYSE: CGC) saw its shares fall sharply following the latest read on the cannabis company's progress as a leader in the marijuana industry. Meanwhile, Walmart (NYSE: WMT) announced quarterly results and pointed toward the coming holiday season as a key period for the retail giant.
Shares of Canopy Growth were down 17% following the release of the Canadian marijuana company's fiscal second-quarter financial report. Canopy did produce considerable growth from year-ago levels, but investors were largely disappointed with its more recent pace of revenue gains.
Source Fool.com
