Stock Market News Daily Roundup November 8

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Shares of Tilray Inc (NASDAQ: TLRY), a pharmaceutical and medical cannabis firm headquartered in British Columbia, Canada, rose 30.64% on Wednesday as cannabis stocks were boosted by results of the U.S. midterm elections including many successful legalization referenda. In addition, the news of resignation of U.S. Attorney General Jeff Sessions contributed to gains. Sessions is strongly anti-legalization.

Roku Inc (NASDAQ: ROKU) fell 10.47% in pre-market Thursday despite the company reported better-than-expected third quarter earnings. The company had loss per share of 9 cents for the quarter, while analysts were expecting a per share loss of 12 cents. It reported revenue of $173.4 million, beating consensus estimates of $169.1 million.

Square Inc (NYSE: SQ) shares fell 4.95% in pre-market trading as the payment company failed to impress the market with its weaker-than-expected earnings guidance for the fourth quarter. Square said it expects adjusted profit per share of 12 cents to 13 cents, below analyst estimates of a 15 cents. The company forecast adjusted EBITDA in a range of $75 million to $80 million. Analysts had modeled $81.4 million. The digital payment processor forecast revenue in a range of $895 million to $905 million. That beat estimates of $891 million.

Tesla Inc (NASDAQ: TSLA) has appointed Robyn Denholm as its new chairman, replacing CEO Elon Musk. Denholm is currently working as CFO of Australia’s telecom Telstra Corp. She has served as Tesla’s board member since 2014. Denholm will resign as CFO of Telstra in the coming months, according to Tesla. Shares of the company fell 0.046% in pre-market trade Thursday.

Siemens AG (FRA: SIE) has decided to raise its dividend by €0.10 to €3.80 per share. In addition, the company is going to launch a €3-billion buyback program that will run until November 2021. For its most recent quarter, Siemens reported net income of €681 million, versus €1.25 billion a year ago. However, revenue jumped 2% to €22.6 billion. Shares of the company were trading up 0.60% on Thursday at noon.

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