February 12, 2019 / 6:14 PM / 2 months ago

BUZZ-Pyxus International: Surges after posting quarterly sales jump

** Shares of tobacco processing company surge ~26 pct to $21.9 after reporting a jump in Q3 sales

** Stock is the second biggest pct gainer across all U.S. exchanges; 3.57 mln shares have changed hands by 12:43 pm ET, thrice its 25-day moving avg

** “Despite challenges impacting the North America market, including Hurricane Florence and foreign tariffs on U.S. tobacco, our leaf business’s third quarter was one of the strongest we have had in four fiscal years,” CEO Pieter Sikkel says

** After reporting a 10 pct rise in Q3 rev to $524 mln, PYX expects rev of $1.8 bln-$1.9 bln for Q4

** Co says first harvest at FIGR’s Simcoe facility took place on Feb. 4 and its expansion is anticipated to begin this spring; FIGR is its indirect Canadian unit which received license to cultivate cannabis last year

** Pyxus says its industrial hemp JV Criticality LLC made significant headway with the launch of Korent, its new line of cannabidiol hemp

** U.S.-listed shares of Aurora Cannabis rose 2.8 pct after reporting a better-than-expected qtrly rev

** Tilray was up 2.1 pct ahead of results after the bell (Reporting by Sruthi Shankar in Bengaluru)

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