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Trade Talks, Micron's Guidance, & Marijuana Stock Charts | Free Lunch

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On today’s episode of Free Lunch, Associate Stock Strategist Ryan McQueeney covers the latest in the ongoing trade talks between the U.S. and China and highlights why trendy memory-chip maker Micron (MU - Free Report) moved higher this morning. Later, Ryan digs into two key charts from a pair of popular marijuana stocks.

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Free Lunch is a brand new show from Zacks Investment Research. It will be streamed live, four times per week, and will feature breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more.

Up first, Ryan discusses the news from Treasury Secretary Steve Mnuchin over the weekend that offsetting tariffs from the U.S. and China are being put on hold amid positive discussions between the two nations. This gave investors worried about a tit-for-tat trade war some relief this morning.

Meanwhile, trendy chip maker Micron moved higher in early Monday trading after raising its earnings and revenue guidance. Micron said it now expects Q3 revenue in the range of $7.70 billion to $7.80 billion, up from its previous guidance of $7.20 billion to $7.60 billion.

The firm also projected adjusted earnings of $3.12 to $3.16 per share, well above its previously-announced range of $2.76 to $2.90 per share (also read: Why Is Micron Stock Gaining Today?).

Finally, Ryan wraps things up by digging into two the charts from two key “marijuana stock” plays: GW Pharmaceuticals and Innovative Industrial Partners (IIPR - Free Report) . GWPH is a budding biotech looking to get approval for its cannabinoid-based treatments, while IIPR is a REIT focused on acquiring medical marijuana facilities.

Check out the show to hear more about the latest movements in these stocks, as well as what Ryan is looking for going forward!

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