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Canada Legalizes Pot, Disney Outbids Comcast, & Micron Set to Report | Free Lunch

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On today’s episode of Free Lunch, Associate Stock Strategist Ryan McQueeney discusses the latest in the battle between Disney (DIS - Free Report) and Comcast (CMCSA - Free Report) to win over 21st Century Fox (FOXA - Free Report) assets.

He also previews Micron’s (MU - Free Report) earnings report and discusses pot stocks like Cronos Group (CRON - Free Report) in the wake of Canada’s marijuana legalization vote.

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Free Lunch is the newest show from Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more.

The media industry was buzzing this morning as Disney raised its offer to buy Fox’s movie and TV assets to $35 per share in cash and stock, outbidding Comcast’s proposed deal and marking a $10 premium from its own original offer.

Disney’s new bid also reportedly includes unique flexibility and additional enhancements that Comcast was not able to muster up, so it looks like the House of the Mouse once again has the upper hand. Ryan discusses the new offer and reminds investors how important the deal is as companies look to compete with Netflix (NFLX - Free Report) .

Ryan also previews the upcoming earnings report from Micron, which is due out after the bell today. Micron is holding a Zacks Rank #1 (Strong Buy) as it heads into the earnings announcement, and the stakes are high as investors hope the memory chip giant can deliver the earnings and revenue growth many have come to expect.

Finally, on the second half of today’s show, Ryan chats about marijuana stocks in the wake of Canada’s legalization efforts. Canada finally approved its recreational cannabis bill on Tuesday, meaning that several trendy medical companies can finally start to shift toward legal distribution.

One of the most popular of these stocks is Cronos Group, which became the first pure-play medical marijuana company to list on an American exchange when it debuted on the Nasdaq in late February.

Ryan digs into Cronos’ price performance and earnings outlook, giving investors everything they need to know about the pot stock right now. Make sure to check out the show to hear more!

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