Edwards Lifesciences Corp
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Health Care : Health Care Equipment & Supplies | Large Cap Growth
Company profile

Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient's diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World. Its products are categorized into three areas: Transcatheter Heart Valve Therapy, Surgical Heart Valve Therapy and Critical Care. It also develops hemodynamic monitoring systems that are used to measure a patient's cardiovascular function in the hospital setting. It is developing products, such as the Edwards SAPIEN 3 Ultra System and Edwards SAPIEN XT transcatheter heart valve, among others. Its Transcatheter Heart Valve Therapy and Surgical Heart Valve Therapy products are manufactured in the United States, Singapore and Switzerland. Critical Care products are manufactured in its facilities located in Puerto Rico and the Dominican Republic.

Closing Price
Day's Change
0.38 (0.43%)
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(Heavy Day)

10-day average volume:

Cannabis stocks fall as a failed Democratic sweep offsets state referendum wins

7:57 am ET November 4, 2020 (MarketWatch)

Tomi Kilgore

Politicians from both parties are likely to support future marijuana initiatives given signs that voter support is growing, analyst says

Shares of cannabis company's fell in early trading Wednesday, as investor disappointment that a Democratic sweep failed to materialize offset a boost from referendum wins in a number states.

The ETFMG Alternative Harvest exchange-traded fund (MJ) fell 1.3% in premarket trading.

Among the more active U.S.-listed shares, Tilray Inc. (TLRY) dropped 2.9%, Aurora Cannabis Inc. (ACB.T) shed 2.7%, Canopy Growth Corp. (WEED.T) slumped 2.8% and Cronos Group Inc. (CRON.T) lost 3.0%.

Arizona, New Jersey, Montana and South Dakota voted to approve recreational marijuana sales to adults, and Mississippi voted to legalize medical marijuana.

Don't miss: With Election Day sweep across four states, recreational pot sales will soon reach one-third of Americans (https://www.marketwatch.com/story/one-third-of-americans-could-soon-have-access-to-legal-weed-as-new-jersey-decriminalizes-cannabis-11604459978).

Meanwhile, hopes that Democrats would take over majority control of the Senate are fading (https://www.marketwatch.com/story/stock-market-hope-for-a-blue-wave-election-day-outcome-washes-out-11604472261), as preliminary results as of early Wednesday are showing that Democrats have not gained much ground.

Also read: Biden leads Trump as control of presidency and U.S. Senate are still in doubt (https://www.marketwatch.com/story/biden-leads-trump-as-control-of-presidency-and-u-s-senate-are-still-in-doubt-11604487802).

"While the outcome is still unknown...a Democratic sweep, while preferred by many cannabis investors, seems very unlikely," analyst Bill Kirk at MKM Partners wrote in a note to clients.

The marijuana ETF had run up 12.5% over the past month through Tuesday, compared with a 0.6% gain for the S&P 500 index , as expectations of a Democratic sweep increased.

On the bright side for pot investors, a Democratic sweep may not have been needed to brighten the outlook for pot investors. Kirk said it was worth noting that cannabis being on the Arizona ballot appeared to be a "meaningful contributing factor" in Joe Biden's chances of winning the state. (Biden held a lead in the state as of this writing but it was still too close to call the winner.)

"We believe politicians of both parties will notice its impact on voters and be more likely to voice support for future cannabis initiatives," Kirk wrote.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

November 04, 2020 07:57 ET (12:57 GMT)

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