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OneSpan stock jumps more than 20% as results top Street estimates

“OneSpan shares, which had been briefly halted before results were released, rallied 29% after hours, following a 3.8% rise to close the regular session at $16.77” writes Wallace Witkowski for marketwatch.com. For the year, OneSpan expects revenue of $229 million to $237 million, while analysts had forecast on revenue of $231.4 million.Analysts surveyed by FactSet had forecast a loss of 2 cents a share on revenue of $59.9 million.OSPN, +3.84% shares surged more than 20% in the extended session Tuesday after the cybersecurity company reported a surprise profit and topped…

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Marijuana stocks are mixed with Canopy Growth and Hexo in focus

“The website said the proposed bill would tax cannabis by the ounce, rather than imposing a flat sales tax that state Senate President Stephen Sweeney opposed” reports etfdailynews.com. From Ciara Linnane : Cannabis stocks were mixed on Tuesday, amid a flurry of announcements on the progress of medical and recreational-use bills around the U.S. Pennsylvania’s medical cannabis businesses made at least 600,000 transactions in its first year, allowing 83,000 patients access to the substance, Gov.Among individual stocks, Canopy Growth Corp. shares CGC, -2.92%WEED, -2.79%  fell 2.8% in morning trade. Source: etfdailynews.com

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Walmart shares surge as holiday sales crush estimates, boosted by e-commerce growth

“Walmart said that, for the year, it achieved e-commerce sales growth of 40 percent, which it had been targeting” writes Lauren Thomas for cnbc.com. Net sales growth is predicted to be at least 3 percent, hurt by deconsolidation of Walmart’s Brazil operations and reduced tobacco sales at Sam’s Club.The company is, meanwhile, targeting e-commerce sales growth of 35 percent for fiscal 2020, which won’t be as robust as what it was able to achieve last year.Walmart shares were up about 4 percent in premarket trading on the news.CEO Doug McMillon…

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Walmart shares rise after earnings and revenue beats expectations

“Walmart expects fiscal 2020 U.S. same-store sales growth of 2.5% to 3% and Sam’s Club same-store sales growth of 1%” writes Tonya Garcia for marketwatch.com. WMT, +1.49% shares rose nearly 5% in Tuesday premarket trading after the retail giant reported fiscal fourth-quarter earnings and revenue that beat expectations. Source: marketwatch.com

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Cooper Tire shares up 2.8% premarket as adjusted profit beat offset sales miss

“Cooper Tire & Co. shares CTB, +2.01% rose 2.8% in premarket trade Tuesday, after an adjusted profit beat that offset weaker-than-expected sales for the fourth quarter” writes Ciara Linnane for marketwatch.com. The company is expecting macro-conditions to support growth in tire demand in 2019 and expect full-year operating profit margins to improve. Source: marketwatch.com

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HSBC profit up 16%, misses forecasts

“HSBC Holdings PLC’s HSBC, +1.01% full-year profit missed analysts’ expectations despite a rise in deposit revenue in Asia” writes Chester Yung for marketwatch.com. Full-year revenue rose to $53.78 billion from $51.45 billion a year earlier, while net profit rose to $12.61 billion from $9.68 billion.HSBC said Tuesday its 2018 reported pretax profit rose 16% to $19.89 billion.HSBC’s Hong Kong-listed shares rose 0.4% to 67.95 Hong Kong dollars at midday before the bank released results. Source: marketwatch.com

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Europe’s largest bank, HSBC, misses expectations in 2018 earnings

“Europe’s largest bank, HSBC, said on Tuesday that 2018 net profit came in below expectations following a challenging fourth-quarter when markets globally experienced a sharp sell-off and reduced activity” writes Yen Nee Lee for cnbc.com. The bank’s reported pre-tax profit for the whole of 2018 was $19.89 billion, 15.9 percent higher than the previous year.Hong Kong is a key market for HSBC, accounting for around one-third of overall revenue in the first nine months of 2018.The London-headquartered bank was expected to record a 23.8 percent jump in reported pre-tax profit…

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Wirecard shares rise on German short-selling ban

“Shares in Wirecard AG (WDI.XE) trade higher Monday morning after German financial regulator BaFin issued a ban on establishing new short positions in the payment-services provider, or increasing existing ones” writes Nathan Allen for marketwatch.com. BaFin said the negative reports triggered a significant increase in net short positions against Wirecard, which have increased volatility in the shares.”In the current situation, there is a risk that this uncertainty will increase and escalate into general market uncertainty,” the regulator said.The regulator said there was a risk that high volatility in the stock–caused…

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Berkshire trimmed its Apple stake, but it reportedly wasn’t Buffett’s idea

“By the end of 2017, Buffett’s conglomerate already owned 165.3 million Apple shares, and it bought another 75 million shares in the first quarter of 2018” writes Dhiraj Singh for cnbc.com. Berkshire Hathaway decreased its stake in Apple by nearly 3 million shares, to 249.5 million, in the fourth quarter, but Warren Buffett reportedly had nothing to do with the selling. Source: cnbc.com

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