Skip to main content

A roundup of some of the North American equities making moves in both directions today

On the rise

Restaurant Brands International Inc. (QSR-T, QSR-N), the parent company of Tim Hortons and Burger King, was up 1.8 per cent in early afternoon trading on Monday after its fourth-quarter results narrowly beat the Street’s expectations. On an adjusted basis, the company says it earned 68 cents per share for the quarter, which exceeded the 67-cent projection by analysts covering the company.

“Throughout the year, we continued to maintain a balanced approach to capital allocation through our increased dividend, share repurchases, and reinvestment in our brands, illustrating our confidence in the long-term growth potential of our business. We remain focused on further growing franchisee profitability and improving guest experience, which we believe will drive value for all of our stakeholders for many years to come,” said chief executive officer Jose Cil in a statement.

Story continues below advertisement

Solium Capital Inc. (SUM-T) rose 43 per cent after announcing before market open that it has an agreement to be bought by Morgan Stanley (MS-N) in an all-cash purchase of $19.15 per share, in a deal valued at approximately $1.1-billion. The shares closed at $13.36 on Friday, which is a 43-per-cent premium.

Tesla Inc. (TSLA-Q) rose 3.3 per cent after an equity analyst at Canaccord Genuity upgraded the stock, seeing a “more stable 2019 with far fewer concerns for investors in the company.”

Hudson’s Bay Corp. (HBC-T) sat 1.4 per cent higher after it announced it has closed the sale of the Lord & Taylor Fifth Avenue building to WeWork Property Investors for $1.1-billion. “This transaction reinforces HBC’s ability to identify undervalued real estate investments with great potential,” said Richard Baker, HBC’s governor and executive chairman. “We continue to strengthen our retail business and unlock the value of our real estate assets.”

Shares of U.S. railway company Norfolk Southern Corp. (NSC-N) were up 3.8 per cent after it announced it expects an improvement to its 2019 operating ratio, a key indicator of a railway company’s performance, of at least 100 basis points its 2018 operating ratio of 65.4 per cent.

On the decline

Shares of SNC-Lavalin Group Inc. (SNC-T) dropped 6.8 per cent following the second reduction to its full-year profit forecast due to a dispute related to its mining and metallurgy project. On the heels of its initial reduction on Jan.28, the Montreal-based company now expects its 2018 adjusted profit to be $1.20 to $1.35 per share, down from the prior forecast of $2.15 to $2.30 per share. “The Company continues to view this as an isolated incident of a non-recurring nature. The Company does not have any other Mining & Metallurgy projects that have similar characteristics,” it said in a statement.

Bombardier Inc. (BBD-B-T) was down 0.5 per cent after Swiss Federal Railways (SBB) said on Monday that new its trains have yet to live up to expectations and that both companies were working to correct issues, including improving software and fixing problematic doors. “It’s a painful forceps delivery,” SBB Chief Executive Andreas Meyer told a news conference in Bern, the Blick newspaper reported. “But we want it to be a good kid that will be in action for 40 years.”

Green Growth Brands Inc. (GGB-CN) fell 1.9 per cent after announcing it has entered into an agreement with Simon Property Group Inc. (SPG-N), the largest shopping mall operator in the United States, to gain access to 108 “prime” retail locations. GGB plans to expand its chain of CBD-infused personal care product shops under the Seventh Sense Botanical Therapy brand and other GGB brands. he first shop is expected to open in March, 2019 at Castleton Square Mall in Indianapolis.

Story continues below advertisement

Canadian Tire Corporation Ltd. (CTC-A-T) fell 2.6 per cent after an UBS equity analysts downgraded it stock, expressing concern over the impact of Amazon.com Inc. (AMZN-Q) on the retailer.

With files from Staff and Wires

Report an error Editorial code of conduct
Tickers mentioned in this story
Unchecking box will stop auto data updates
Comments

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • All comments will be reviewed by one or more moderators before being posted to the site. This should only take a few moments.
  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed. Commenters who repeatedly violate community guidelines may be suspended, causing them to temporarily lose their ability to engage with comments.

Read our community guidelines here

Discussion loading ...

Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.
Cannabis pro newsletter