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Aurora Cannabis and Baidu have been highlighted as Zacks Bull and Bear of the Day
Read MoreHide Full Article
For Immediate Release
Chicago, IL – September 23, 2026 – Zacks Equity Research shares Aurora Cannabis (ACB - Free Report) as the Bull of the Day and Baidu (BIDU - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on PepsiCo, Inc. (PEP - Free Report) , The Coca-Cola Co. (KO - Free Report) and Monster Beverage Corp. (MNST - Free Report) .
After years of poor stock performance, inconsistent business momentum and an uncertain regulatory framework, cannabis stocks are finally beginning to show some signs of life.
The industry's fundamental backdrop is still far from perfect. But regulatory conditions are gradually improving, several operators are demonstrating better profitability, and investor interest is beginning to return after years of relentless selling.
One stock beginning to stand out is Aurora Cannabis.
Aurora has spent years restructuring its business after the excesses of the first cannabis boom, but the company today looks considerably different. Management has increasingly focused the business around higher-margin global medical cannabis, while exiting lower-return operations and expanding its presence across Europe.
More importantly for investors, analysts are beginning to recognize the improvement. Earnings estimates are moving sharply higher, ACB has climbed to a Zacks Rank #1 (Strong Buy), and the stock's technical picture is beginning to strengthen as well.
Cannabis Stocks Finally Have Some Catalysts
The regulatory backdrop remains one of the biggest potential catalysts for the cannabis industry.
Federal policy has moved toward less restrictive treatment of medical cannabis. Following an executive order in December 2025, the Justice Department issued a final order in April moving certain FDA-approved and state-licensed medical marijuana into Schedule III treatment. The broader regulatory picture remains unsettled, however, with legal challenges and administrative proceedings still ongoing.
The financial implications could be significant.
Section 280E of the tax code prevents businesses trafficking in Schedule I or Schedule II substances from deducting many normal operating expenses. Moving qualifying cannabis activity to Schedule III therefore has the potential to substantially lower effective tax burdens and improve cash flow for affected US cannabis operators.
Aurora itself has limited direct exposure to the US market, so investors shouldn't view 280E relief as a direct earnings catalyst for ACB. Instead, the regulatory shift matters primarily because it improves the broader environment for cannabis stocks and could ultimately accelerate momentum in an industry that has spent years operating under unusually restrictive conditions.
Aurora's company-specific opportunity is elsewhere: international medical cannabis.
The company has established significant positions across Canada, Germany, Poland, Australia and New Zealand and is concentrating capital on markets where medical cannabis economics are substantially more attractive than the highly competitive recreational market.
That focus is beginning to show through in the numbers.
Earnings Estimates Turn Higher for Aurora Cannabis
Aurora's most recent quarter was somewhat mixed on the surface, but there were several encouraging developments beneath the headline numbers.
Fiscal first quarter revenue declined year-over-year as Aurora continued winding down its consumer cannabis operations and dealt with lower reimbursement rates in Canadian medical cannabis. Internationally, however, the picture was considerably stronger.
International medical cannabis revenue increased 17% year over year, driven primarily by growing patient demand in Germany. Medical cannabis represented the vast majority of revenue in the quarter, illustrating just how dramatically the business has shifted toward its core medical franchise.
And Aurora continues to invest behind that opportunity.
The company's acquisition of Safari Flower Company added EU-GMP-certified production capacity, while Aurora is also expanding in the United Kingdom. Management recently reaffirmed expectations for sequential growth in both revenue and adjusted EBITDA during the fiscal second quarter, citing continued strength in Germany and Poland. Aurora also finished June with roughly C$149 million in cash and short-term investments and no debt.
Furthermore, markets trade on the direction of future earnings rather than past results, and this is where the Aurora story is becoming most interesting.
Earnings estimates have moved sharply higher in recent weeks. Most notably, next year estimates have flipped from a projected loss to a profit over the past 60 days.
That rapid improvement in analyst expectations is exactly what has pushed Aurora into a Zacks Rank #1 (Strong Buy).
The company has also now exceeded Zacks consensus EPS estimates in each of its last four quarters. Most recently, Aurora reported adjusted earnings of $0.04 per share versus expectations for a $0.13 loss, representing another substantial positive surprise.
There is another interesting validation of Aurora's assets as well.
Curaleaf Holdings recently launched an unsolicited takeover offer for the company. The proposal initially implied consideration of roughly $4 per Aurora share, consisting of cash and Curaleaf stock. Aurora's board has pushed back against the offer, but the bid nevertheless highlights the strategic value that a larger industry player sees in Aurora's international medical cannabis footprint.
ACB Shares Show Accelerating Momentum
The technical picture has also improved.
Aurora shares were hammered earlier this year, extending what has been a brutal multi-year period for long-term shareholders. But after falling toward the high-$2 range during the summer, the stock appears to have established a meaningful base.
Momentum has subsequently turned higher. Just this week, ACB shares have pushed to new multi-month highs and are approaching YTD highs.
Should Investors Buy Shares in ACB?
Aurora Cannabis remains a speculative stock in an industry with a long history of disappointing investors.
There are legitimate risks. The company's Canadian business remains under pressure, adjusted EBITDA declined sharply last quarter, the regulatory landscape remains complicated and the ongoing Curaleaf takeover battle adds another element of uncertainty.
But the setup is improving.
Aurora has shifted its focus toward higher-margin international medical cannabis markets, international revenue is growing at a double-digit pace, management expects sequential improvement in the current quarter and the balance sheet carries substantial cash with no debt. Most importantly from a Zacks perspective, analysts have begun raising their earnings expectations.
Meanwhile, the stock is beginning to confirm that improving outlook, with shares building momentum following a long period of weakness.
Cannabis stocks have generated plenty of false starts over the years. But with the industry backdrop improving and Aurora's earnings outlook turning higher at the same time its stock emerges from a long base, ACB may finally be offering investors a more compelling risk-reward setup.
Once one of China's most dominant technology companies, Baidu has struggled to find its footing in recent years.
The company remains a major player in search and is investing aggressively across artificial intelligence, cloud computing and autonomous driving. But those faster-growing businesses have yet to overcome weakness in Baidu's legacy operations, while earnings expectations continue to move sharply lower.
That combination has pushed BIDU to a Zacks Rank #5 (Strong Sell).
Baidu's Core Business Remains Under Pressure
Baidu's latest earnings results highlight the challenge.
Second-quarter revenue fell 4% year over year, while revenue from Baidu's General Business also declined 4%. Most concerning was online marketing, historically the company's core profit engine, where revenue dropped 19% year over year.
There are certainly bright spots though, as AI Cloud Infrastructure revenue increased 50% year over year, while GPU Cloud revenue surged 283%. Baidu is also continuing to expand its Apollo Go robotaxi operation internationally.
But for now, these businesses aren't growing quickly enough to offset deterioration elsewhere. Even Baidu's broader AI-powered business, while up 25% year over year, declined 8% sequentially during the second quarter.
BIDU Earnings Estimates Keep Falling
The most concerning signal for investors is the direction of earnings estimates.
The Zacks Consensus Estimate for current year earnings has fallen to $5.66 per share, down roughly 17% in the last 60 days. Next year estimates have also fallen more than 12% over that period.
Those downward revisions have earned Baidu a Zacks Rank #5 (Strong Sell).
Should Investors Avoid BIDU Stock?
Baidu still owns valuable assets, and its rapid growth in AI Cloud shows that the company is not standing still.
The problem is that investors aren't yet seeing that AI momentum translate into consistent company-wide growth.
Revenue is contracting, the traditional advertising business remains under significant pressure and analysts continue to cut earnings expectations. Meanwhile, BIDU shares have spent years struggling to establish a sustained uptrend.
Until the growing AI businesses begin to meaningfully offset weakness in Baidu's legacy operations and earnings estimates stabilize, investors may want to look elsewhere for technology exposure.
Additional content:
Can Zero Sugar Drinks Fuel PepsiCo's Next Growth Phase?
PepsiCo, Inc. is strengthening its beverage portfolio by focusing on non-sugar offerings as consumer preferences evolve. The performance of the non-sugar portion of its beverage business, along with functional hydration and energy, remains encouraging. These initiatives are part of PepsiCo's broader portfolio transformation strategy aimed at catering to changing food and beverage habits while creating new growth opportunities.
The company is increasingly relying on its zero-sugar beverage portfolio to support growth as consumers become more health-conscious and reduce their intake of added sugar. Brands such as Pepsi Zero Sugar, Diet Pepsi and other low- and no-sugar offerings allow the company to address changing preferences while maintaining the appeal of its established beverage franchises.
Zero-sugar beverages can contribute to PepsiCo's growth by catering to consumers who enjoy the taste of traditional soft drinks but prefer lower-sugar options. The company can further drive demand through product innovation, refreshed packaging and targeted marketing initiatives that enhance awareness and consumer engagement. In addition, PepsiCo's extensive distribution network spanning convenience stores, supermarkets, restaurants and other retail channels provides broad availability for its zero-sugar offerings, helping it reach a wider consumer base.
PepsiCo can further benefit from premiumization and price-pack architecture. Offering zero-sugar beverages in different package sizes and formats can help the company address varied consumption occasions while supporting revenue and margin growth. Innovation around flavors and functional attributes could also broaden the category beyond traditional colas.
Overall, PepsiCo's expanding zero-sugar portfolio represents an important growth lever. Combined with stronger brand execution, innovation, pricing discipline and distribution capabilities, these offerings could help the company capture evolving beverage demand and support more sustainable growth.
PEP's Peers: How are They Doing?
The Coca-Cola Co. maintains a diversified global non-alcoholic beverage portfolio spanning carbonated soft drinks, hydration, energy, juices, dairy, coffee, tea and functional beverages. KO's growth strategy focuses on leveraging strong brands, premiumization, zero-sugar innovation and expansion in high-growth beverage categories. Coca-Cola is also emphasizing product innovation, portfolio expansion and deeper consumer engagement to strengthen brand relevance and support sustainable growth.
Monster Beverage Corp. continues to benefit from the expanding global energy drinks market, supported by steady demand across convenience stores and other major retail channels. MNST is strengthening its portfolio through new flavors and health-oriented offerings while focusing on supply-chain optimization and strategic pricing. Continued category expansion and product innovation are helping Monster Beverage broaden its consumer reach and reinforce its position in the energy drinks market.
PEP's Price Performance, Valuation and Estimates
Shares of PepsiCo have lost 12.3% in the past six months against the industry's growth of 10.8%.
From a valuation standpoint, PEP trades at a forward price-to-earnings ratio of 14.60X compared with the industry's average of 19X.
The Zacks Consensus Estimate for PEP's 2026 and 2027 earnings per share (EPS) implies a year-over-year rise of 5.3% and 4.9%, respectively. The estimates for 2026 have been stable but 2027 estimates have moved south in the past 30 days.
PepsiCo stock currently carries a Zacks Rank #4 (Sell).
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Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
View the Zacks #1 Rank List
Image: Bigstock
Aurora Cannabis and Baidu have been highlighted as Zacks Bull and Bear of the Day
For Immediate Release
Chicago, IL – September 23, 2026 – Zacks Equity Research shares Aurora Cannabis (ACB - Free Report) as the Bull of the Day and Baidu (BIDU - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on PepsiCo, Inc. (PEP - Free Report) , The Coca-Cola Co. (KO - Free Report) and Monster Beverage Corp. (MNST - Free Report) .
Here is a synopsis of all five stocks:
Bull of the Day:
After years of poor stock performance, inconsistent business momentum and an uncertain regulatory framework, cannabis stocks are finally beginning to show some signs of life.
The industry's fundamental backdrop is still far from perfect. But regulatory conditions are gradually improving, several operators are demonstrating better profitability, and investor interest is beginning to return after years of relentless selling.
One stock beginning to stand out is Aurora Cannabis.
Aurora has spent years restructuring its business after the excesses of the first cannabis boom, but the company today looks considerably different. Management has increasingly focused the business around higher-margin global medical cannabis, while exiting lower-return operations and expanding its presence across Europe.
More importantly for investors, analysts are beginning to recognize the improvement. Earnings estimates are moving sharply higher, ACB has climbed to a Zacks Rank #1 (Strong Buy), and the stock's technical picture is beginning to strengthen as well.
Cannabis Stocks Finally Have Some Catalysts
The regulatory backdrop remains one of the biggest potential catalysts for the cannabis industry.
Federal policy has moved toward less restrictive treatment of medical cannabis. Following an executive order in December 2025, the Justice Department issued a final order in April moving certain FDA-approved and state-licensed medical marijuana into Schedule III treatment. The broader regulatory picture remains unsettled, however, with legal challenges and administrative proceedings still ongoing.
The financial implications could be significant.
Section 280E of the tax code prevents businesses trafficking in Schedule I or Schedule II substances from deducting many normal operating expenses. Moving qualifying cannabis activity to Schedule III therefore has the potential to substantially lower effective tax burdens and improve cash flow for affected US cannabis operators.
Aurora itself has limited direct exposure to the US market, so investors shouldn't view 280E relief as a direct earnings catalyst for ACB. Instead, the regulatory shift matters primarily because it improves the broader environment for cannabis stocks and could ultimately accelerate momentum in an industry that has spent years operating under unusually restrictive conditions.
Aurora's company-specific opportunity is elsewhere: international medical cannabis.
The company has established significant positions across Canada, Germany, Poland, Australia and New Zealand and is concentrating capital on markets where medical cannabis economics are substantially more attractive than the highly competitive recreational market.
That focus is beginning to show through in the numbers.
Earnings Estimates Turn Higher for Aurora Cannabis
Aurora's most recent quarter was somewhat mixed on the surface, but there were several encouraging developments beneath the headline numbers.
Fiscal first quarter revenue declined year-over-year as Aurora continued winding down its consumer cannabis operations and dealt with lower reimbursement rates in Canadian medical cannabis. Internationally, however, the picture was considerably stronger.
International medical cannabis revenue increased 17% year over year, driven primarily by growing patient demand in Germany. Medical cannabis represented the vast majority of revenue in the quarter, illustrating just how dramatically the business has shifted toward its core medical franchise.
And Aurora continues to invest behind that opportunity.
The company's acquisition of Safari Flower Company added EU-GMP-certified production capacity, while Aurora is also expanding in the United Kingdom. Management recently reaffirmed expectations for sequential growth in both revenue and adjusted EBITDA during the fiscal second quarter, citing continued strength in Germany and Poland. Aurora also finished June with roughly C$149 million in cash and short-term investments and no debt.
Furthermore, markets trade on the direction of future earnings rather than past results, and this is where the Aurora story is becoming most interesting.
Earnings estimates have moved sharply higher in recent weeks. Most notably, next year estimates have flipped from a projected loss to a profit over the past 60 days.
That rapid improvement in analyst expectations is exactly what has pushed Aurora into a Zacks Rank #1 (Strong Buy).
The company has also now exceeded Zacks consensus EPS estimates in each of its last four quarters. Most recently, Aurora reported adjusted earnings of $0.04 per share versus expectations for a $0.13 loss, representing another substantial positive surprise.
There is another interesting validation of Aurora's assets as well.
Curaleaf Holdings recently launched an unsolicited takeover offer for the company. The proposal initially implied consideration of roughly $4 per Aurora share, consisting of cash and Curaleaf stock. Aurora's board has pushed back against the offer, but the bid nevertheless highlights the strategic value that a larger industry player sees in Aurora's international medical cannabis footprint.
ACB Shares Show Accelerating Momentum
The technical picture has also improved.
Aurora shares were hammered earlier this year, extending what has been a brutal multi-year period for long-term shareholders. But after falling toward the high-$2 range during the summer, the stock appears to have established a meaningful base.
Momentum has subsequently turned higher. Just this week, ACB shares have pushed to new multi-month highs and are approaching YTD highs.
Should Investors Buy Shares in ACB?
Aurora Cannabis remains a speculative stock in an industry with a long history of disappointing investors.
There are legitimate risks. The company's Canadian business remains under pressure, adjusted EBITDA declined sharply last quarter, the regulatory landscape remains complicated and the ongoing Curaleaf takeover battle adds another element of uncertainty.
But the setup is improving.
Aurora has shifted its focus toward higher-margin international medical cannabis markets, international revenue is growing at a double-digit pace, management expects sequential improvement in the current quarter and the balance sheet carries substantial cash with no debt. Most importantly from a Zacks perspective, analysts have begun raising their earnings expectations.
Meanwhile, the stock is beginning to confirm that improving outlook, with shares building momentum following a long period of weakness.
Cannabis stocks have generated plenty of false starts over the years. But with the industry backdrop improving and Aurora's earnings outlook turning higher at the same time its stock emerges from a long base, ACB may finally be offering investors a more compelling risk-reward setup.
Bear of the Day:
Once one of China's most dominant technology companies, Baidu has struggled to find its footing in recent years.
The company remains a major player in search and is investing aggressively across artificial intelligence, cloud computing and autonomous driving. But those faster-growing businesses have yet to overcome weakness in Baidu's legacy operations, while earnings expectations continue to move sharply lower.
That combination has pushed BIDU to a Zacks Rank #5 (Strong Sell).
Baidu's Core Business Remains Under Pressure
Baidu's latest earnings results highlight the challenge.
Second-quarter revenue fell 4% year over year, while revenue from Baidu's General Business also declined 4%. Most concerning was online marketing, historically the company's core profit engine, where revenue dropped 19% year over year.
There are certainly bright spots though, as AI Cloud Infrastructure revenue increased 50% year over year, while GPU Cloud revenue surged 283%. Baidu is also continuing to expand its Apollo Go robotaxi operation internationally.
But for now, these businesses aren't growing quickly enough to offset deterioration elsewhere. Even Baidu's broader AI-powered business, while up 25% year over year, declined 8% sequentially during the second quarter.
BIDU Earnings Estimates Keep Falling
The most concerning signal for investors is the direction of earnings estimates.
The Zacks Consensus Estimate for current year earnings has fallen to $5.66 per share, down roughly 17% in the last 60 days. Next year estimates have also fallen more than 12% over that period.
Those downward revisions have earned Baidu a Zacks Rank #5 (Strong Sell).
Should Investors Avoid BIDU Stock?
Baidu still owns valuable assets, and its rapid growth in AI Cloud shows that the company is not standing still.
The problem is that investors aren't yet seeing that AI momentum translate into consistent company-wide growth.
Revenue is contracting, the traditional advertising business remains under significant pressure and analysts continue to cut earnings expectations. Meanwhile, BIDU shares have spent years struggling to establish a sustained uptrend.
Until the growing AI businesses begin to meaningfully offset weakness in Baidu's legacy operations and earnings estimates stabilize, investors may want to look elsewhere for technology exposure.
Additional content:
Can Zero Sugar Drinks Fuel PepsiCo's Next Growth Phase?
PepsiCo, Inc. is strengthening its beverage portfolio by focusing on non-sugar offerings as consumer preferences evolve. The performance of the non-sugar portion of its beverage business, along with functional hydration and energy, remains encouraging. These initiatives are part of PepsiCo's broader portfolio transformation strategy aimed at catering to changing food and beverage habits while creating new growth opportunities.
The company is increasingly relying on its zero-sugar beverage portfolio to support growth as consumers become more health-conscious and reduce their intake of added sugar. Brands such as Pepsi Zero Sugar, Diet Pepsi and other low- and no-sugar offerings allow the company to address changing preferences while maintaining the appeal of its established beverage franchises.
Zero-sugar beverages can contribute to PepsiCo's growth by catering to consumers who enjoy the taste of traditional soft drinks but prefer lower-sugar options. The company can further drive demand through product innovation, refreshed packaging and targeted marketing initiatives that enhance awareness and consumer engagement. In addition, PepsiCo's extensive distribution network spanning convenience stores, supermarkets, restaurants and other retail channels provides broad availability for its zero-sugar offerings, helping it reach a wider consumer base.
PepsiCo can further benefit from premiumization and price-pack architecture. Offering zero-sugar beverages in different package sizes and formats can help the company address varied consumption occasions while supporting revenue and margin growth. Innovation around flavors and functional attributes could also broaden the category beyond traditional colas.
Overall, PepsiCo's expanding zero-sugar portfolio represents an important growth lever. Combined with stronger brand execution, innovation, pricing discipline and distribution capabilities, these offerings could help the company capture evolving beverage demand and support more sustainable growth.
PEP's Peers: How are They Doing?
The Coca-Cola Co. maintains a diversified global non-alcoholic beverage portfolio spanning carbonated soft drinks, hydration, energy, juices, dairy, coffee, tea and functional beverages. KO's growth strategy focuses on leveraging strong brands, premiumization, zero-sugar innovation and expansion in high-growth beverage categories. Coca-Cola is also emphasizing product innovation, portfolio expansion and deeper consumer engagement to strengthen brand relevance and support sustainable growth.
Monster Beverage Corp. continues to benefit from the expanding global energy drinks market, supported by steady demand across convenience stores and other major retail channels. MNST is strengthening its portfolio through new flavors and health-oriented offerings while focusing on supply-chain optimization and strategic pricing. Continued category expansion and product innovation are helping Monster Beverage broaden its consumer reach and reinforce its position in the energy drinks market.
PEP's Price Performance, Valuation and Estimates
Shares of PepsiCo have lost 12.3% in the past six months against the industry's growth of 10.8%.
From a valuation standpoint, PEP trades at a forward price-to-earnings ratio of 14.60X compared with the industry's average of 19X.
The Zacks Consensus Estimate for PEP's 2026 and 2027 earnings per share (EPS) implies a year-over-year rise of 5.3% and 4.9%, respectively. The estimates for 2026 have been stable but 2027 estimates have moved south in the past 30 days.
PepsiCo stock currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Free: Instant Access to Zacks' Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Get all the details here >>
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.