TLRY

KLA Corp and Immunome Surge: KLA Corp's stock rose 4% after Jefferies increased its price target, driven by AI-related spending, while Immunome's shares jumped 20% following positive Phase 3 trial results for its drug targeting desmoid tumors.

Zillow and Abercrombie & Fitch Movements: Zillow's shares fell 8% due to competition from Google’s new listing format, whereas Abercrombie & Fitch gained 6%, benefiting from a market shift away from tech stocks.

Hospitality Stocks Rise: Las Vegas Sands and Marriott International both saw a 2.1% increase in their stock prices after receiving buy upgrades from Goldman Sachs, citing strong consumer demand in the high-end market.

iRobot Bankruptcy and Chinese Economic Data: iRobot's stock plummeted 72% after declaring bankruptcy, while Alibaba and Baidu stocks fell due to disappointing economic data from China, indicating a slowdown in retail sales and industrial production.

Acquisition Details: Canopy Growth Corporation has agreed to acquire MTL Cannabis Corp. for approximately 125 million Canadian dollars in a cash-and-stock deal, with MTL shareholders receiving shares and cash for their holdings.

Strategic Benefits: The acquisition is expected to enhance Canopy's position in Canada's medical cannabis market, expanding its patient network and improving access to high-quality flower supply, particularly in Québec.

Financial Performance: MTL reported net revenue of 84 million Canadian dollars and a gross margin of 51% as of September 30, 2025, while Canopy anticipates annualized cost synergies of about 10 million Canadian dollars within 18 months.

Management Changes: Following the acquisition, MTL's leadership team will join Canopy Growth, with MTL CEO Michael Perron becoming the Chief Operating Officer, indicating a strategic integration of both companies' operations.