Cineplex: BMO Reiterates Targets Despite Earnings Missing Consensus
Cineplex Inc. (TSX: CGX) reported its second quarter financial results last week. The company announced revenues of $349.9 million, up from $228.72 million last quarter or up 53% sequentially. The move theatre’s gross profits increased 86% sequentially to $182.54 million, while reporting the first positive net income since the pandemic started. Adjusted EBITDA meanwhile came […]
Newsflash, Boomers: Teens Prefer YouTube, TikTok Over Facebook
A new survey verifies what many already suspect: American kids don’t like Facebook all that much. Pew Research Center recently released the results of its survey of teenagers ages 13 to 17 in the United States. The results show that Chinese-owned TikTok has become the top social media platform for this demographic, with 67% of […]
Trump Claims Documents Found In Mar-o-Lago Were Declassified, But Does It Matter?
The recently unsealed seven-page document which includes the warrant to search former President Donald J. Trump’s Mar-o-Lago property in Florida reveals that agents of the Federal Bureau of Investigation were able to retrieve 11 sets of classified documents, among other things. The three-page list includes four sets of top secret documents, three sets of each […]
Sundial Growers Sinks 7% Following “Record” Revenue, Wider Net Loss In Q2 2022; Rebrands To SNDL
SNDL Inc. (Nasdaq: SNDL) reported on Friday its Q2 2022 financial results. The firm recorded quarterly net revenue of $223.7 million, up from Q1 2022’s $17.6 million and Q2 2021’s $9.2 million. Gross margin increased to $43.1 million from the losses of $3.4 million and $2.8 million in the previous quarter and year-ago period, respectively. But […]
Auxly Cannabis Sees Revenue Grow 21% Sequentially, Losses Narrow
Despite continued growth in topline revenue, positive net income continues to evade Auxly Cannabis (TSX: XLY). The firm this morning posted its second quarter financing results, indicated that its revenue had climbed a substantial 20.8% on a sequential basis. Revenues for the second quarter came in at $27.3 million, an improvement over the $22.6 million […]
Galaxy Digital Walks From Billion Dollar Purchase Of BitGo Over Financial Statements
A major transaction in the crypto space has been called off as a result of audited financial statements not being presented. Galaxy Digital (TSX: GLXY) this morning indicated that it will no longer be proceeding with acquiring BitGo, a crypto custodian, following the firms inability to provide audited financial statements by the deadline of July […]
Nevada Copper Posts US$5.0 Million In Revenue, US$3.9 Million In Cash Balance In Q2 2022
Nevada Copper Corp. (TSX: NCU) announced its financial results for the second quarter ended June 30, 2022. The mining firm recorded a revenue of US$5.0 million, up from Q2 2021’s US$2.1 million. But with production costs higher than the revenue, the firm ended with a gross loss of US$11.9 million, wider than last year’s loss […]
Senator Sinema Forces Market-Unfriendly Tax Provision On Stock Buybacks To Be Added To Inflation Reduction Act
A frequently used quote in politics, “Laws are like sausages, it is better not to see them being made,” comes to mind as U.S. Senate Democrats tried to appease — now successfully — Arizona conservative Democrat Kyrsten Sinema to gain her critical 50th vote for their key climate and health care package, that is for some […]
Argentina’s Central Bank Hikes Rates by 950 Basis Points as Inflation Spirals Out of Control
Argentina’s central bank urgently raised borrowing costs by a staggering 950 basis points this week, in face of 20 year-high inflation that continues to spiral out of control. The Central Bank of Argentina hiked its benchmark interest rate for the 28-day term from 60% to 69.5% on Thursday, merely two weeks after delivering an 800 […]
Trillion Energy: Increasing Offshore Gas Production In Turkey
Trillion Energy International Inc. (CSE: TCF) is a Canadian oil and gas exploration company with assets in Turkey and Bulgaria. The company’s flagship project is its 49%-owned South Akçakoca Sub-Basin (SASB) offshore natural gas field in the Black Sea off the Turkish coast.. Trillion has been actively operating in Turkey over the past 20 years […]