Stock Market News Daily Roundup October 23

Tesla Inc (NASDAQ: TSLA) said it will report third-quarter earnings after the closing bell Wednesday. Shares of the automaker were down 1.23% in pre-market trade. Tesla has scheduled a conference call at 5:30 p.m. Eastern time to discuss the third quarter and outlook.

Law enforcement agencies defused an explosive device found in Westchester County, New York, near the home of billionaire George Soros on Monday. The New York Times reported that the device was in a mail box near Mr. Soros’s home and the bomb squad “proactively detonated” it. The billionaire philanthropist is a favorite target of right-wing groups, according to the authorities.

Shares of Therapix Biosciences (NASDAQ: TRPX) rose 58.37% in extended-hours trading after FSD Pharma announced signing of a binding letter of intent to acquire Therapix for $48 million in stock. The transaction will create “a medical cannabis industry innovator focused on the research and development of advanced cannabinoid treatments,” FSD Pharma said in a press statement. Therapix is a specialty clinical-stage pharmaceutical company focused on creating a portfolio of technologies and assets based on cannabinoid pharmaceuticals.

Swedish aerospace and defense firm Saab AB (SAAB-B.ST) plans to launch a $665-million rights issue to improve its financial outlook. The company needs a stronger balance sheet to develop the large projects in its order book, invest in research and development, and to compete for new extensive contracts, Reuters reports.

Aurora Cannabis (ACBFF), known as the Berkshire Hathaway of cannabis, said that its shares will begin trading on the New York Stock Exchange on Oct. 23. The Canadian licensed cannabis producer trades on the Toronto Stock Exchange as ACB. Aurora is the second largest cannabis company in the world by market capitalization.

An ad to help with our costs