Company News

BUZZ-Aurora Cannabis drops ahead of results, Tilray, Canopy Growth follow

** Aurora Cannabis shares drop ~3 pct ahead of Q2 results due after the bell

** Aurora Q2 revenue estimated to have more than quadrupled to $51.8 mln, but a surge in costs is seen to have swung the company to a $62 mln loss - Refinitiv IBES data

** ACB posted a bigger-than-expected loss in each of the four prior qtrs, while revenue fell short in the previous three

** Stock was higher premarket after the company said it completed its first commercial export of cannabis oil to UK

** Tilray down ~2 pct, with its third quarterly results as a public company due after the close on Tuesday

** Tilray’s estimated Q4 rev of $12.8 mln tops Q3 and Q2, while estimated loss of $13.8 mln is lower than Q3 - IBES data

** Canopy Growth, in which Constellation Brands recently took a stake, is down 5 pct; WEED’s Q3 results due after the bell on Valentine’s day

** Rev estimated rising over five-fold to top $100 mln for first time; $66 mln estimated loss slightly higher than yr-ago, but well below Q2’s $337 mln loss

** Aurora has gained ~42 pct YTD, beating only Tilray’s 12 pct gain; Aphria is up 48 pct, Canopy 56 pct and Cronos 86 pct

** But TLRY has surged 247 pct since its mid-July debut, beating all peers; ACB’s 30 pct gain in that time is higher than only Aphria’s 8 pct rise; WEED up 69 pct and CRON up 199 pct (Reporting by Savio D’Souza)