Skip to main content

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

Stocks falling

Shares of Nike Inc. were down about 4 per cent in early trading Friday after the shoe maker reported weaker-than-expected sales in North America in its most recent quarter and warned of slower revenue growth.

The company expects sales during its fiscal fourth quarter will be up a high-single-digit rate, on a constant currency basis. But currency headwinds are expected to reduce that growth by about 6 percentage points, CFO Andy Campion said, resulting in low-single-digit gains compared with a year ago.

Story continues below advertisement

=======

Finnish network equipment maker Nokia is taking a pounding after saying Friday it was looking into transactions at its former French rival Alcatel-Lucent which it acquired in 2016, after reporting possible compliance issues at the unit to U.S. authorities. New York-listed shares were down about 7 per cent.

“The last night comment on possible fines stemming from business transactions of Alcatel-Lucent is hurting the stock, the market is really sensitive about Nokia these days,” Kimmo Stenvall, analyst at OP Markets, told Reuters. Nokia said certain practices relating to compliance issues at the former Alcatel-Lucent business had raised its concerns during the integration process.

=======

Boeing Co. shares were down about 1 per cent after Indonesian carrier PT Garuda Indonesia said it would look to cancel a US$4.9-billion order for 49 of Boeing’s 737 Max 8 jets. The move marks the first time a carrier has sought to cancel an order for the jets in the wake of fatal crashes in Indonesia and Ethiopia.

=======

Goldcorp. shares were lower Friday in heavy trading, while rival Newmont Mining was off 0.1 per cent, after Paulson & Co. said it would not support Newmont’s planned $10-billion US takeover of Goldcorp. Paulson, which said the premium offered is unjustified, is one of Newmont’s top shareholders. Mr. Paulson said the deal would be dilutive to Newmont holders and only Goldcorp shareholders would benefit from the synergies.

Story continues below advertisement

=======

On the rise

On Bay Street, Ski-Doo maker BRP Inc. reported a 22.8-per-cent increase in fourth quarter revenue, topping analysts’ forecasts and sending shares up about 4 per cent in early trading. BRP posted revenue of $1.51-billion in the quarter, up from $1.23 billion a year earlier. Analysts had been expecting revenue of $1.41-billion. Earnings per share rose 23.5 per cent to 84 cents in the latest quarter. That was also ahead of the 83 cents analysts had been forecasting.

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