Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today's Thursday, April 23rd, and I'm your host, Kim Khan. Our top story so far. Cannabis stocks are going, well, higher, after the DEA issued an order to reschedule marijuana as a less dangerous drug.

Major gainers include Canadian licensed producers canopy growth, Tilray, Kronos, Aurora

Cannabis, SNDL, and Organogram. The order assigned by acting attorney general Todd Blanche

does not legalize marijuana for medical or recreational use under federal law,

but it shifts licensed medical marijuana from Schedule I, reserved for drugs with no accepted medical

use, to Schedule 3, easing regulatory burdens, and opening the door for tax relief and expanded

research. The move allows state licensedlicensed medical marijuana companies to deduct business

expenses for the first time, removes penalties for researchers using state-approved products,

and establishes an expedited DEA registration process for producers and distributors.

President Trump directed his administration in December to move quickly on reclassification.

Blanche said the rescheduling allows for research on the safety and efficacy of the substance,

ultimately providing patients with better care and doctors with more reliable information.

The decision marks a significant policy shift, aligning federal treatment more closely,

with the 40 states that already operate medical maramara programs,

while stopping short of a full legalization.

Among other active stocks, IBM is tumbling after the company said it is prudent to maintain

our guidance, even as the underlying performance and execution are often encouraging start.

Morgan Stanley analyst, Eric Woodring, said big picture, there's nothing wrong or

bad about that outcome, especially given uncertainty around the Middle East conflict. But investors

have been looking for upward pressure on full year estimates that didn't materialize this quarter.

Mobile Eye is rallying after posting better than expected Q1 results, updating its annual forecast,

...