MedMen's ends blockbuster deal adding to cannabis stock woes. Asian stocks slip as tensions flare before US-China talks. Powell sees cooler US hiring in possible hint of rate cuts.
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The Early Bird Newsletter

Wednesday, October 9th

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MedMen's ends blockbuster deal adding to cannabis stock woes
Politics

MedMen's ends blockbuster deal adding to cannabis stock woes

Marijuana stocks have come down hard from their highs a year ago, and the skid isn't just spooking investors. On Tuesday, MedMen Enterprises Inc., which sells legal cannabis in California and 11 other states, backed out of a blockbuster deal to buy PharmaCann, a Chicago-based marijuan...

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Meric Greenbaum
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Asian stocks slip as tensions flare before US-China talks

Shares slipped in Asia on Wednesday as tensions between the U.S. and China flared ahead of talks aimed at resolving the trade war between the world's two biggest economies. An overnight sell-off on Wall Street added to the gloom. Technology companies, banks and health care stocks bore...

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Jerome Powell
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Powell sees cooler US hiring in possible hint of rate cuts

Federal Reserve Chairman Jerome Powell said Tuesday that U.S. job growth since early last year was not as robust as thought, a hint that the Fed may be ready to keep cutting interest rates to support the economy. Powell also said the Fed will soon announce plans to buy Treasurys, like...

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US dips in competitiveness index as Singapore takes top spot
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US dips in competitiveness index as Singapore takes top spot

The United States is less competitive than it was a year ago and the global economy remains hobbled by low productivity despite a decade of cheap money from central banks, the World Economic Forum said Wednesday. In its latest assessment of the factors behind productivity and long-ter...

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UK central bank: financial sector ready for no-deal Brexit
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UK central bank: financial sector ready for no-deal Brexit

The Bank of England says the U.K. financial system is prepared for a no-deal Brexit though ongoing uncertainties about the country's withdrawal from the European Union continue to weigh on economic activity

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Irish border residents worry about future if no-deal Brexit
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Irish border residents worry about future if no-deal Brexit

The small ferry moves gently across the calm waters of Carlingford Lough, connecting the picturesque hamlet of Greencastle in Northern Ireland with the village of Greenore, a mile and a half away in the Republic of Ireland. It began sailing a little more than two years ago, saving far...

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China demands US lift tech curbs, will 'safeguard' interests
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China demands US lift tech curbs, will 'safeguard' interests

China demanded Washington lift sanctions on Chinese tech companies and warned Wednesday it will "resolutely safeguard" the country's interests. The Ministry of Commerce criticized curbs imposed on sales of U.S. technology to a group of Chinese companies as interference in the country'...

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Tough times for chipmakers as Samsung warns of profit drop
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Tough times for chipmakers as Samsung warns of profit drop

Samsung provided the latest sign of the tough times afflicting computer chipmakers as it braced investors for a sharp drop in profit. The sobering forecast Tuesday wasn't entirely unexpected, given an industrywide glut that has forced chipmakers to slash prices to clear out inventory....

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Glen Wood
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Court hears case on paternity leave at Japanese brokerage

A Tokyo court held a hearing Wednesday into the case of a former brokerage manager who says he was forced from his job for taking paternity leave. Canadian Glen Wood wants to get back his former position of equity sales manager at brokerage giant Mitsubishi UFJ Morgan Stanley. ...

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GM talks hit snag as union seeks products for UAW factories
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GM talks hit snag as union seeks products for UAW factories

Talks between General Motors and the United Auto Workers union hit a snag Tuesday over what the union says is a lack of commitment by GM to build new vehicles in U.S. factories. In a letter to members, union Vice President Terry Dittes wrote that the union has told GM that it doesn't ...

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Trump's Scottish golf clubs extend run of yearly losses
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Trump's Scottish golf clubs extend run of yearly losses

President Donald Trump's two golf resorts in Scotland are posting millions of dollars of losses as his properties contend with a struggling local economy and a backlash against their owner's divisive rhetoric

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Proposals would dam Little Colorado River for hydropower
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Proposals would dam Little Colorado River for hydropower

The Little Colorado River cuts across the northeast corner of Arizona, emptying its waters into the much-larger Colorado River after a more than 330-mile journey. Few people wander in the remote region where it crosses the Navajo Nation, aside from river rafters traveling through the ...

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Arizona now has misgivings about Purdue opioid settlement
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Arizona now has misgivings about Purdue opioid settlement

Arizona's attorney general is having misgivings about agreeing to Purdue Pharma's proposal to settle litigation over the opioid crisis. Attorney General Mark Brnovich, a Republican, said in a court filing late Monday that the OxyContin maker has "sought to undermine material terms of ...

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The Early Bird Stock Of The Day

Microchip Technology Inc.

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity. It also provides development tools that enable system designers to program microcontroller products for specific applications; analog, interface, mixed signal, and timing products comprising power management, linear, mixed-signal, high-voltage, thermal management, radio frequency (RF), drivers, safety, security, timing, USB, Ethernet, wireless, and other interface products; and memory products consisting of serial electrically erasable programmable read-only memory, serial flash memories, parallel flash memories, and serial static random access memories for the production of very small footprint devices. In addition, the company licenses its SuperFlash embedded flash and Smartbits one time programmable NVM technologies to foundries, integrated device manufacturers, and design partners for use in the manufacture of microcontroller products, gate array, RF, and analog products that require embedded non-volatile memory, as well as provides engineering services. Further, it provides wafer foundry and assembly and test subcontracting manufacturing services; and application specific integrated circuits, complex programmable logic devices, and aerospace products. It serves automotive, communications, computing, consumer, aerospace, defense, safety, security, medical, and industrial control markets. The company sells its products through a network of direct sales personnel and distributors in the Americas, Europe, and Asia. Microchip Technology Incorporated was founded in 1989 and is headquartered in Chandler, Arizona.

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