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Midday Wrap: FedEx Tests Drone Deliveries, MKM Partners Initiates Cannabis

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Fresh off of a disappointing earnings release, FedEx (FDX) - Get Free Report announced that it is partnering with Wing Aviation - a subsidiary of Alphabet (GOOGL) - Get Free Report - to explore drone deliveries. The company will initially work with FedEx Express and Walgreens (WBA) - Get Free Report to launch the drone delivery service.

The pilot program will launch in Christainsburg, VA and October and will be run as part of the DOT's Unmanned Aircraft System Integration Pilot Program.

Datadog (DDOG) - Get Free Report shares are rising nearly 2% in the second day of trading after jumping nearly 40% in its debut on Thursday. The New York cloud-monitoring-software company estimated its IPO in the $24-to-$26 range, but sold 24 million shares on Wednesday for $27 each ahead of Thursday's public debut.

Acreage (ACRGF) and Hexo (HEXO) - Get Free Reportwere the top picks in MKM Partners Cannabis initiation roundup while Curaleaf and Aurora Cannabis were given sell ratings.

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