We'll dive into that in a minute, but first congrats for making it through a news-packed Tuesday.
Ready to dive into the top headlines on TheStreet? Well, here we go.
Rollin' With Tilray
The real question, I think, is how many cannabis-related puns you can stick in a story before people grow tired of them. Not amused? OK, fine, let's focus on the story then.
TheStreet's Jacob Sonenshine reported that cannabis stocks are off to the races again this Tuesday morning, with Tilray and other legal-weed stocks soaring.
Alefia Health (ALEAF) was up 21% early Tuesday at $2.92 a share, and settled to a 19.6% gain at noon. The stock went public in mid-May and only topped $1 per share earlier this month. ALEAF is hitting all-time highs Tuesday.
Canopy Growth (CGC) was coming in at more muted gains Tuesday morning, up about 3.7% at $54.43 a share, and, like the rest of its peers, settled at a lower gain, at above 2%. Canopy Growth went public in 2014 and was a penny stock until around early 2017, but is up some 690% since then. CGC moved from less than $25 a share on August 13 to the $50s -- a more than 100% pop.
I don't know what these cannabis stocks are smoking, but wow.
I'm done, I promise.
The Qualcomm-Apple Takedown
It's a chip eat apple world.
TheStreet's Tony Owusu looked at Qualcomm's (QCOM - Get Report) allegations against Apple (AAPL - Get Report) . The chip-giant says that the iPhone-maker stole confidential information and fed it to Intel Corp. (INTC - Get Report) .
"Apple has engaged in a years-long campaign of false promises, stealth, and subterfuge designed to steal Qualcomm's confidential information and trade secrets for the purpose of improving the performance and accelerating the time to market of lower-quality modem chips, including those developed by Intel," Qualcomm said in its court filing. "Apple used that stolen technology to divert Qualcomm's Apple-based business to Intel."
In November, Qualcomm accused Apple of violating the agreement because it didn't allow Qualcomm to periodically ensure that the source code software that it was sharing with Apple was being appropriately protected.
Qualcomm and Apple are embroiled in more than 70 lawsuits and countersuits globally. The rift between the former partners started when Apple accused Qualcomm of illegally using its dominance of the global phone chip market to charge exorbitant licensing fees.
Sounds like there's no love lost there. Man, that's a burnt bridge if I've ever seen one.
Sears is Still Kicking--For Now
TheStreet's Brian Sozzi tackles Sears and where it goes from here.
On Monday, Sears (SHLD) filed an SEC document showing how it plans to attempt to save the dying retailer before it falls into bankruptcy.
With Sears burning through $1 billion in cash in the first half of 2018 amid awful sales at both Sears and Kmart, the latest filing shed light on the retailer's precarious financial footing.
As much as I'd love to break down the situation, I think that TheStreet's resident Sears expert, AKA Sozzi, should detail what's going on instead.
And of course, this means a walk around Wall Street with his handy dandy iPhone.
Ready for hump day? TheStreet is. Catch you later.