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

On the rise

Hexo Corp. (HEXO-T) was up 3.4 per cent on Thursday after restating its financial results for fiscal 2019 before the bell.

The Ottawa-based cannabis company announced its net loss for year ended July 31, 2019 was overstated by $14.3-million due to an error in calculating deferred tax liability.

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Hexo had reported total net loss of $81.56-million and had withdrawn its 2020 outlook on Oct. 2

See also: Hexo stock falls as company’s equity offering drops

Tesla Inc. (TSLA-Q) sat 2.8 per cent higher after a representative for the firm told Reuters on Thursday it will deliver its first China-made Model 3 sedans to the public on Jan. 7 at an event at its Shanghai plant.

The Shanghai plant is part of the Silicon Valley automaker’s plans to bolster its presence in the world’s biggest auto market and minimize the impact of the U.S.-China trade war.

Fifteen Tesla employees who had purchased the car were the first to take delivery on Monday after the first China-made vehicles rolled off the plant’s production line in October.

Before the bell, an equity analyst hiked his target for Tesla shares, seeing momentum heading into 2020.

See also: Tesla stock hits Elon Musk’s magic number

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Enghouse Systems Ltd. (ENGH-T) jumped 5.5 per cent after announcing the $52-million acquisition of Dialogic Group Inc.

Enghouse said the New Jersey-based software firm is projecting to generate revenue of between $58-million and $63-million over the next 12 months.

“This acquisition strengthens our position in the enterprise video and unified communications market segment by adding rich multi-media processing applications and capabilities,” said Enghouse chairman and CEO Steve Sadler. “In the communications service provider market, Dialogic provides network infrastructure solutions that facilitate virtualization, the evolution to 5G networks and the transition of networks from hardware to software defined network connectivity. We are very pleased to welcome Dialogic’s employees, customers and partners to Enghouse.”

On the decline

Tilray Inc. (TLRY-Q) dipped 4.3 per cent in New York after Israel’s InterCure Ltd said on Thursday its subsidiary Canndoc has signed a strategic cooperation agreement with the B.C.-based company

for the import and export of medical cannabis.

Canndoc has an option to import 2.5 tonnes of high quality cannabis from Tilray’s facilities in Portugal, with a first shipment of 250 kilograms already on its way to Israel. The cannabis will be sold as finished products in Israeli pharmacies.

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Canndoc said to its knowledge this is the first medical marijuana imported commercially to Israel.

The Israeli company will also export up to 5 tonnes of cannabis for use in products marketed by Tilray, subject to Canndoc’s receipt of an export license. Canndoc will supply about 1.5 tonnes by the end of the second quarter.

Boyd Group Income Fund (BYD-UN-T) slid 0.7 per cent after announcing the appointment of Tim O’Day as president and chief executive officer of Boyd Group Services Inc.

Current CEO Brock Bulbuck moves into the role of executive chair.

Concurrently, the Winnipeg-based company announced the completion of the conversion of Boyd Group Income Fund from an income trust to a public corporation.

With files from staff and wires

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