Skip to main content
The Globe and Mail
Get full access to globeandmail.com
Support quality journalism
Just $1.99 per week for the first 24weeks
Just $1.99 per week for the first 24weeks
The Globe and Mail
Support quality journalism
Get full access to globeandmail.com
Globe and Mail website displayed on various devices
Just$1.99
per week
for the first 24weeks

var select={root:".js-sub-pencil",control:".js-sub-pencil-control",open:"o-sub-pencil--open",closed:"o-sub-pencil--closed"},dom={},allowExpand=!0;function pencilInit(o){var e=arguments.length>1&&void 0!==arguments[1]&&arguments[1];select.root=o,dom.root=document.querySelector(select.root),dom.root&&(dom.control=document.querySelector(select.control),dom.control.addEventListener("click",onToggleClicked),setPanelState(e),window.addEventListener("scroll",onWindowScroll),dom.root.removeAttribute("hidden"))}function isPanelOpen(){return dom.root.classList.contains(select.open)}function setPanelState(o){dom.root.classList[o?"add":"remove"](select.open),dom.root.classList[o?"remove":"add"](select.closed),dom.control.setAttribute("aria-expanded",o)}function onToggleClicked(){var l=!isPanelOpen();setPanelState(l)}function onWindowScroll(){console.log("scroll");var l=isPanelOpen(),n=0===(document.body.scrollTop||document.documentElement.scrollTop);n||l||!allowExpand?n&&l&&(allowExpand=!0,setPanelState(!1)):(allowExpand=!1,setPanelState(!0))}pencilInit(".js-sub-pencil",!1);

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

On the rise

Marijuana producers jumped in mid-afternoon trading on Monday, leading the health care sector up 7.2 per cent. Aphria Inc. (APHA-T) sat 13.3 per cent higher, while Aurora Cannabis Inc. (ACB-T), Cronos Group Inc. (CRON-T) and Canopy Growth Corp. (WEED-T) were up 11.1 per cent, 18.1 per cent and 5.1 per cent, respectively.

Edmonton-based Radient Technologies Inc. (RTI-X) jumped 37 per cent after announcing it has received its Standard Processing License from Health Canada to process, sell, and distribute cannabis materials to other federal cannabis license holders. “This is a huge milestone for Radient Technologies and one that we are thrilled to have reached after a year of momentous growth,” said chief executive officer Denis Taschuk.

Story continues below advertisement

Shares of Blackline Safety Corp. (BLN-X) were up 3.6 per cent in the wake of the release of its fourth-quarter results on Monday before market open. The Calgary-based connected safety monitoring technology company reported revenue of $5.5-million, a 30-per-cent increase year-over-year.

Maxwell Technologies Inc. (MXWL-Q), a San Diego-based developer of battery technology, rose 48.9 per cent after announcing it has agreed to be bought by electric-car maker Tesla Inc. (TSLA-Q) for US$218-million. The offer values each Maxwell share at US$4.75, representing a 55-per-cent premium to the stock’s closing price on Friday.

At the same time, Tesla sat flat in reaction to the news.

In the wake of the news it has agreed to be bought by an investor group led by Hellman & Friedman in a US$11-billion deal, Florida-based Ultimate Software Group Inc. (ULTI-Q) was up 19.5 per cent. The investor group also includes Blackstone Group LP, GIC Pte Ltd, Canada Pension Plan Investment Board (CPPIB) and JMI Equity. “The transaction provides our stockholders with a substantial premium. Our decision was also made with the best interests of our 5,144 employees and our more than 5,600 customers at heart. This change will bring meaningful benefits to our employees and customers—both in the long and short terms,” said chief executive officer Scott Scherr

Ahead of the release of its quarterly results after market close, Alphabet Inc. (GOOGL-Q, GOOG-Q) sat 1.2 per cent higher. The Street is projecting earnings per share of US$10.90, rising from a loss of US$4.35 a year ago that was impacted by U.S. tax code changes.

Papa John’s International Inc. (PZZA-Q) rose 9.8 per cent with hedge fund Starboard Value LP taking a US$200-million stake in the pizza chain. The company rejected a similar offer from the company’s founder, John Schnatter.

On the decline

OceanaGold Corp. (OGC-T) lost 5.4 per cent following guidance that included lower year-over-year production from its New Zealand operations

Story continues below advertisement

Namaste Technologies Inc. (N-X) dropped 11.6 per cent after firing chief executive Sean Dollinger for cause. The Toronto-based cannabis tech firm also announced it has launched a strategic review process to “consider all value-maximizing alternatives.”

Pembina Pipeline Corp. (PPL-T) fell 0.5 per cent after announcing it plans to go ahead with its joint venture with Kuwait’s Petrochemical Industries Co. to build an integrated propane dehydrogenation plant and polypropylene upgrading facility in Alberta. The project is expected to cost $4.5-billion. Pembina’s net investment expected to be $2.5-billion, representing a 50-per-cent interest in Canada Kuwait Petrochemical Corp. (CKPC).

Shares of IGM Financial Inc. (IGM-T) were down 2.1 per cent after an equity analysts at Desjardins Securities downgraded its stock based on valuation concerns.

Similarly, Leagold Mining Corp. (LMC-T) dipped 3.3 per cent after receiving a CIBC World Markets downgrade.

With files from Staff and Wires

Report an error Editorial code of conduct
Tickers mentioned in this story
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.

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:

  • 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.

Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies