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Investing Insights

Stocks to Consider as the U.S. Pushes to Reclassify Cannabis

Investing Insights

Morningstar, Ivanna Hampton, Sarah Hansen

Bonds, Stocks, Analysis, Advice, Trading, Funds, News, Investment, Morningstar, Entrepreneurship, Mutual, Ideas, Etfs, Finance, Investing, Business, Economic, Independent, Christine Benz

4.2539 Ratings

🗓️ 8 September 2023

⏱️ 14 minutes

🧾️ Download transcript

Summary

Salesforce had a good quarter, Best Buy is cheap, and is now a good time to add a little green to your portfolio with cannabis stocks?

Transcript

Click on a timestamp to play from that location

0:00.0

Please stay tuned for important disclosure information at the conclusion of this episode.

0:06.0

The U.S. is pushing to reclassify cannabis. Which stock should you buy right now?

0:12.0

Best Buy stock is cheap. Is this company the best buy for your portfolio?

0:17.0

And for all you dividend fans out there, we have three undervalue dividend stocks for you to consider.

0:22.8

This is Investing Insights.

0:29.1

Welcome to Investing Insights. I'm your host, Ruth Saldana. Let's get started with a look at your

0:34.4

Morningstar headlines. Salesforce delivered another good quarter.

0:39.5

The cloud-based software company's revenue grew 11% year-over-year in its fiscal second quarter.

0:46.5

It hit $8.6 billion.

0:49.3

Revenue and profitability came in ahead of Morningstar's expectations.

0:53.9

For the fiscal year, Salesforce has raised

0:56.3

its top and bottom line forecasts. It also repurchased almost $2 billion worth of stock during

1:02.8

the quarter. Most of its cloud services grew, annual recurring revenue, by 50% or more.

1:10.7

Meanwhile, professional services remain weak,

1:13.6

and the overall demand environment remains challenging.

1:18.1

Margins can still expand, even as the tech firm invests in AI.

1:22.8

While better revenue helped,

1:24.5

cost cuts like layoffs from January bolstered margins in this quarter,

1:28.8

and should continue to do so for the rest of the year.

1:32.1

Morning Staffling Salesforth is worth $255 per share, up from $245 per share.

1:41.1

An overwhelming majority of United Auto Worker members voted to approve a strike against automakers' GM, Ford and Stalantis.

1:49.4

While this doesn't guarantee a strike, it does allow workers to immediately strike after the union's contract with each company expires on September 14th.

...

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