Cannabis packaging company KushCo expects more than $230 million in 2020 revenue

Cannabis packing and vape company KushCo Holdings Inc. KSHB, -9.39% reported Thursday 135% gain in revenue and a widening net loss for the company’s fiscal fourth quarter. KushCo does not trade after hours. The company reported a fiscal fourth-quarter loss of $11.5 million, or 13 cents a share, versus $3.2 million, or 4 cents a share, in the year-ago period. Revenue rose to $47 million from $20 million in the year-ago period. Analysts surveyed by FactSet had estimated revenue of $45.8 million. For the fiscal first quarter, analysts model $42.4 million. KushCo said it expects fiscal 2020 revenue of $230 million to $250 million, $25 million of which will result from the company’s recently announced hemp trading business. KushCo stock has fallen 70% this year, as the S&P 500 index SPX, +0.27% has gained 23%. The ETFMG Alternative Harvest ETF MJ, -2.23% has fallen 25%.

Slack gets a bearish initiation from Wedbush due to Microsoft threat

Wedbush analyst Daniel Ives began coverage of Slack Technologies Inc. WORK, +0.99% with an underperform rating and $14 target price Thursday, citing competition from Microsoft Corp. MSFT, +0.14%. "The Slack solution is impressive and represents a strong growth opportunity; however we believe penetrating this next phase of enterprises will be incrementally more difficult as the Microsoft/Teams value proposition presents a major competitive hurdle going forward in sales cycles," Ives wrote. He expects that the threat from Microsoft’s Teams product could slow growth "quicker than the Street is anticipating." Slack’s stock was down 1.2% in after-hours trading Thursday. The shares have fallen 34% over the past three months, as the S&P 500 SPX, +0.27% has increased 7%.

New survey looking for opinions on Winnipeg’s street lighting

The City of Winnipeg launched a new city-wide study Thursday, asking for feedback from the community on the city’s street lighting system.

The survey, which is available online, runs until Nov. 29, with the goal of determining how Winnipeg’s street lights are performing and whether there are problems in any specific areas of town.

The results will be combined with a technical analysis in a report, which will be provided to council and made available to the public online.

Take-Two Interactive reports 74% increase in revenue

Take-Two Interactive Software Inc. TTWO, +0.20% shares fell in the extended session Thursday after reporting a 74% gain in revenue. The videogame company reported fiscal second-quarter net income of $71.8 million, or 63 cents a share, compared with $25.4 million, or 22 cents a share, in the year-ago period. Revenue rose to $857.8 million from $492.7 million in the year-ago period. Net bookings grew 63% to $950.5 million. Bookings is a common figure used by videogame companies that takes into account physical and digital sales of games. Analysts surveyed by FactSet had estimated earnings of $1.34 a share on bookings of $926.9 million. For the fourth quarter, Take-Two said it expects fiscal third-quarter earnings of $1.39 to $1.49 a share on bookings of $860 million to $910 million. Analysts expect fiscal third-quarter bookings of $933 million. Take-Two stock has gained 13.6% this year, as the S&P 500 index SPX, +0.27% rose 23%.

China local shares to become over 4% of MSCI emerging markets benchmark

Nov 7 (Reuters) – Global index provider MSCI said on Thursday mainland Chinese stocks, or A shares, will have a weight of 4.1% in the MSCI Emerging Market Index, up from 2.55% currently, as it implements the final step of the weight increase of Chinese shares in its widely-followed emerging markets benchmark.

The weight increase will be reflected effective at the market open on Nov. 27, the index provider said. (Reporting by Samuel Shen in Shanghai and Rodrigo Campos in New York; Editing by Sandra Maler)

Man says McDonald's sweet tea was steeped in marijuana, got him 'high as a kite'

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HILTON HEAD, S.C. (AP) — A South Carolina man who went to McDonald's for a sweet tea says he received a little extra herbal substance on the side.

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The Island Packet reports Parrish Brown went to a McDonald's on Hilton Head Island and asked for a sweet tea with light ice and extra lemon.

Brown now believes "extra lemon" was code for marijuana, since he found three bags of weed in his cup. He says he only realized it once he was "high as a kite."

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Brown says he'd never had marijuana, so he didn't recognize the taste. He says he paid regular price for the items.

Beaufort County Sheriff's Office spokesman Maj. Bob Bromage says an investigation is ongoing. He didn't specify which McDonald's Brown had gone to.

McDonald's didn't immediately respond to a request for comment.

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Teradata shares drop on earnings, outlook disappointment, CEO resignation

Teradata Inc. TDC, +2.88% shares dropped in the extended session Thursday after the cloud-based data analytics company’s outlook and earnings fell short of Wall Street views and the company said its chief executive had stepped down on Tuesday. Teradata shares dropped 17% after hours, following a 2.9% rise in the regular session to close at $31.12. Teradata said it now expects adjusted earnings of 13 cents to 18 cents a share for the fourth quarter, and 95 cents to $1 for the year. Analysts surveyed by FactSet had forecast 58 cents a share for fourth quarter and $1.49 a share for the year. The company reported third-quarter net income of $10 million, 9 cents a share, compared with $18 million, or 15 cents a share, in the year-ago period. Adjusted earnings were 32 cents a share. Revenue declined to $459 million from $526 million in the year-ago quarter. Analysts had forecast earnings of 40 cents on revenue of $485 million. Teradata also announced that president and CEO Oliver Ratzesberger resigned on Tuesday and that Chairman Victor Lund was now serving as interim president and CEO.