Ultra Lithium, Zangge Mining Agree To Terminate Investment Agreement Following Canadian Government Order
Ultra Lithium (TSXV: ULT) has finally responded to a recent order issued by the Government of Canada that will see the company lose a major partner for its Laguna Verde Project in Argentina. The company was the last of three firms that were targeted by the order to respond to the decision. The order, issued […]
Peloton’s “Ship Is Turning” But Not From Its Product Revenues
Peloton Interactive (Nasdaq: PTON) reported its fiscal Q1 2023 financials highlighting a quarterly revenue of US$616.5 million, down from both Q4 2022’s US$678.7 million and Q1 2022’s US$805.2 million. The topline figure also falls short of the previously announced guidance of US$625 – US$650 million. “For the last nine months my goal has been to […]
Lowe’s To Sell Canadian Operations For US$400 Million
Lowe’s Companies (NYSE: LOW) this evening announced it will be taking a major loss on its Canadian retail operations. The firm has agreed to sell the Canadian assets for $400 million in cash to that of Sycamore Partners. The purchaser, Sycamore, is a private equity firm said to specialize in retail, consumer, and distribution-related investments. […]
CN Rail: BMO Anticipates Continued Strong Earnings
Canadian National Railway (TSX: CNR) last week released its third-quarter financial and operating results. The company reported quarterly revenues of C$4.5 billion, an increase of 26% off the back of higher fuel surcharges, freight rate increases, and a positive foreign exchange rate. As a result, the company’s operating income increased by 44% to C$1.93 billion. […]
ESPN Still Discussing Sports Betting Partnership With Online Sportsbooks; California Ballot Initiative Could be Playing a Role in Timing
The sports broadcasting giant ESPN, a unit of The Walt Disney Company (NYSE: DIS), appears to be continuing discussions to form a partnership with a sports betting company. The betting giant DraftKings, Inc. (NASDAQ: DKNG), with whom ESPN already has a marketing partnership, would seem to have a leg up on other online sportsbooks in these talks (Disney already […]
Activist Investor Calls For MindMed CEO’s Termination Due To Alleged Fraudulent Acts
FCM MM Holdings, one of Mind Medicine’s (NEO: MMED) shareholders with a 6.1% stake, has formally filed a complaint with the US Securities and Exchange Commission regarding various allegations against the company. The complaint refers to current allegations the firm faces: self-dealing, a lack of significant disclosure, false statements, and public statement fraud. The shareholders’ […]
Canadian Building Permits Plummet by Record in September as Housing Market Dramatically Cools
The value of building permits fell by the most on record in September, as rapidly rising mortgage rates send shivers across Canada’s real estate market and prompt would-be homeowners to shy away from purchasing a home. Latest Statistics Canada data showed that the total value of building permits for the month of September plummeted 17.5% […]
Inflation, The Diesel Problem, & “A Worldwide Digital Currency?” — With Todd Bubba Horwitz
Joining us on The Daily Dive today is frequent guest Todd “Bubba” Horwitz. Todd sits down with us this afternoon to discuss Elon Musk’s acquisition of Twitter, the recent interest rate hike, and the diesel problem. He also shares with us his outlook on commodities, his thoughts on the earnings season, and of course, the […]
Meta Platforms: Canaccord Anticipates Headwinds To Persist, Cuts Target To $200
On October 26th, Meta Platforms Inc (Nasdaq: META) reported its third-quarter financial results. The company continued the trend of tech companies disappointing investors as the company reported revenues of $27.7 billion, down 4%. At the same time, costs and expenses were up 19% to $22 billion. This dropped the companies operating income to $5.66 billion, […]
Robinhood Posts First Positive Adjusted EBITDA In Five Quarters
After the market closed yesterday, Robinhood Markets, Inc. (NASDAQ: HOOD) announced 3Q 2022 results which beat analysts’ forecasts on both revenue and earnings (really, losses) per share. The company reported 3Q 2022 revenue and diluted EPS of US$361 million and (US$0.20) versus expectations of US$358 million and (US$0.27), respectively. The principal reasons for the better performance could be […]