The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Tilray's stock fell after the Canadian cannabis company reported a wider-than-expected loss for the second quarter after the markets closed Tuesday.
Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
Shares of the Canadian pot company slid by more than 7% in after-hours trading.
On an unadjusted basis, Tilray reported a second-quarter net loss of $35.1 million, or 36 cents per share, wider than its loss during the same quarter last year of $12.8 million, or 17 cents per share.
After excluding for acquisition-related expenses and an inventory accounting charge, Tilray lost 32 cents per share, a steeper loss than the 25 cents per share analysts surveyed by Refinitiv expected.
Sales rose 371% to $45.9 million, beating expectations of $41.1 million. Tilray attributed the increase to its acquisition of hemp food producer Manitoba Harvest, Canada legalizing recreational marijuana last year and growth in international markets, especially in Europe.
Tilray's total kilogram equivalents sold reached 5,588 kilograms, tripling the 1,514 kilograms in the year-ago quarter. Investing in cultivation centers in Canada and Portugal increased Tilray's costs and ate into the company's gross margin.
"The way we look at it is it's early days, and we're continuing to invest to build long-term value for our shareholders," Tilray CEO Brendan Kennedy said on CNBC's "Closing Bell " on Tuesday.
"If we looked at individual countries like Canada, for instance, we could be profitable there within two quarters," he added. "But when we look at one of the larger markets such as Europe, it's still an opportune time to invest."
Tilray will introduce its first CBD products with Authentic Brands in the U.S. in the second half of the year, Kennedy told analysts Tuesday on a conference call. In January, Tilray agreed to supply Authentic Brands Group with CBD to use in products from brands like Nine West, Prince Sports and Juicy Couture.
Tilray will "be ready" to introduce cannabis drinks in Canada at the end of the year when regulations allow, he said. Tilray entered a partnership with Anheuser-Busch InBev, the world's largest brewer, late last year to study cannabis-based beverages.
Kennedy said regardless of who wins the U.S. presidential election next year, he expects the U.S. to legalize marijuana. The company bought Manitoba Harvest and, more recently, Smith & Sinclair to compete in the rapidly growing U.S. CBD market.
"I think that the tide has really turned and it doesn't really matter who's president in terms of cannabis legalization," he said. "It's really one of the few issues that has bipartisan support in Washington, D.C."