Skip to main content

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

On the rise

Canopy Growth Corp. (WEED-T, CGC-N) was up 9 per cent after an analyst Michael Lavery of Piper Jaffray hiked his target price for its stock by 50 per cent (to US$60 from US$40), pointing to a US$15-to-US$50-billion opportunity in the global cannabis market, which he sees growing to US$250-US$500-billion.

Shares of Canfor Corp. (CFP-T) jumped 4.9 per cent on Friday as material stocks led gains on the TSX. Interfor Corp. (IFP-T) and West Fraser Timber Co. (WFT-T) rose 3.6 per cent and 3.7 per cent, respectively.

Story continues below advertisement

Gold producers increased as spot gold rose about 1 per cent to US$1,293.24 per ounce on Friday on concerns about a prolonged U.S. government shutdown at a time when global growth is already slowing. Kinross Gold Corp. (K-T) sat up 2.9 per cent, while Barrick Gold Corp. (ABX-T) was 2.2 per cent higher.

Teck Resources Ltd. (TECK-B-T) was up 3.8 per cent as zinc prices hit their highest point in nearly three months on worries that weak refined output in China could send the global market into deficit.

Aptose Biosciences Inc. (APS-T) sat 3 per cent higher after an equity analyst at Oppenheimer initiated coverage of the stock with an “outperform” rating, citing the potential of its CG-806 clinical-stage cancer drug.

Khiron Life Sciences Corp. (KHRN-X), a Toronto-based cannabis company concentrated on the Latin American market, rose 4.5 per cent after announcing a deal to acquire 100 per cent of NettaGrowth International Inc., an arm’s length party, which will own, at the time of completion of the transaction, all the outstanding shares of Dormul S.A. (doing business as Cannapur).

Starbucks Corp. (SBUX-Q) jumped 3.2 per cent after reporting better-than-expected quarterly results on Thursday after market close, pointing to the popularity of its holiday drink offerings. The coffee company reported adjusted profit of 68 U.S. cents, exceeding the consensus estimate on the Street by 3 US cents. U.S. comparable same-store sales jumped 4 per cent year-over-year.

Alibaba Group Holding Ltd. (BABA-N) rose 1.2 per cent after its executive vice-chairman Joe Tsai said the Chinese e-commerce giant will continue to invest aggressively despite an uncertain business environment.

On the decline

Colgate-Palmolive Co. (CL-N) fell 1 per cent after announcing it expects a decline in 2019 earnings due to increases in advertising costs and the impact of higher commodity prices.

Story continues below advertisement

Despite exceeding expectations with its fourth-quarter earnings, Intel Corp. (INTC-Q) dipped 5.1 per cent on lower-than-anticipated guidance for the current quarter. The chipmaker pointed to a slowdown in China and sluggish demand for its data centre and modem chips.

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

Cannabis pro newsletter