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Follow this list to discover and track stocks with the greatest 52-week loss. These are stocks whose price has increased the most over the past 52 weeks (percent change). This list is generated daily, the losses are based on today's closing price and limited to the top 30 stocks that meet the criteria.
Teva Pharmaceutical Industries Limited
Slack Technologies, Inc.
DXC Technology Company
Canopy Growth Corporation
Teck Resources Limited
EQM Midstream Partners, LP
Sinopec Shanghai Petrochemical Company Limited
ANGI Homeservices Inc.
Qurate Retail, Inc.
Qurate Retail, Inc.
The Macerich Company
Western Midstream Partners, LP
EnLink Midstream, LLC
Equitrans Midstream Corporation
The Chemours Company
Aurora Cannabis Inc.
Lions Gate Entertainment Corp.
National Beverage Corp.
Banco Macro S.A.
ANGI Homeservices (ANGI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The FDA accepts for review Alkermes' (ALKS) NDA for ALKS 3831 for the treatment of schizophrenia and bipolar I disorder and has set an action date of Nov 15, 2020.
Fluor (FLR) is set to provide project management consultancy services to BPCL in order to meet the growing domestic demand for polyols in India.
(Bloomberg) -- The oil and gas producer formerly known as Encana Corp. has completed its corporate overhaul with a new domicile and a new name. It has yet another hurdle to cross.Now based in Denver, Ovintiv Inc. will update investors Wednesday on its progress for the shale oil assets in Oklahoma it amassed after the $5.5 billion acquisition of Newfield Exploration Co. in 2018. The Stack and Scoop fields in the Anadarko Basin have faced investor scrutiny and operational challenges that sent a handful of small explorers into bankruptcy. The company is also set to host a tour of its Stack operations Thursday.Read more with Bloomberg Intelligence’s report on the Anadarko Basin“We think the focus will be on steps the company has taken to reduce well costs and improve returns to make the play more competitive with other resource plays in North America,” said JPMorgan Chase & Co. analyst Arun Jayaram in a report. “The company will likely face stiff headwinds ‘selling’ the play to the market given the sharp pullback in activity by industry.”Before its name change, the Canada-listed shares of Encana had been falling for a decade as it faced a rout in commodity prices and a pipeline bottleneck in Alberta. Its purchase of Newfield didn’t help as it reversed course on a strategy of slimming its oil and gas portfolio.And as Ovintiv started trading with the new symbol OVV in the U.S. on Monday, the shares haven’t done much better -- dropping 9% over two days.Here’s what analysts will be watching for on the one-hour Anadarko Basin webcast which is slated to start at 4:30 p.m. eastern standard time.JPMorgan (Arun Jayaram)Focus will be on well costs and steps Ovintiv has taken to improve returns in the playSees the company providing more of its 2020 program details during 4Q earnings release in FebruaryJayaram has a neutral rating on OvintivPeters & Co. (Harbie Jawanda)Well costs and results are areas of focusWith the company “spudding its first cube style development” in April, Jawanda seeks any additional update with respect to its development plan for this yearRates Ovintiv’s stock as a sector performBMO (Randy Ollenberger)Shares are in the “penalty box,” and performance can improve if Ovintiv can “demonstrate improving profitability in the Anadarko basin.”Ovintiv has “materially lowered D&C costs; however, well productivity has lagged peers”Ollenberger rates the stock as an outperformEight Capital (Phil Skolnick)Doesn’t expect a production and recovery comparison of Ovintiv-drilled and complete wells versus Newfield drilled & completed wellsSays this could have been a potential catalyst for investorsSkolnick rates Ovintiv neutralCowen (Gabe Daoud Jr.)“While one-year cumes appear in line with the company’s type curve, we remain worried over the longer-term trend given what’s seen in the (albeit sometimes funky) OK State data”Daoud Jr. recommends a market perform rating for Ovintiv’s stockTo contact the reporter on this story: Michael Bellusci in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Divya Balji, Bailey LipschultzFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
It’s a relatively quiet day on the economic calendar, leaving the coronavirus in focus ahead of the FED’s first policy decision of the year.
TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:Toronto Stock Exchange (17,500.88, up 58.36 points).Bombardier Inc. (TSX:BBD.B). Industrials. Up 10 cents, or 8.33 per cent, to $1.30 on 9.7 million shares.Cenovus Energy Inc. (TSX:CVE). Energy. Up 15 cents, or 1.3 per cent, to $11.68 on 8.6 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Up 12 cents, or 4.84 per cent, to $2.60 on 5.9 million shares.Birchcliff Energy Ltd. (TSX:BIR). Energy. Up five cents, or 2.86 per cent, to $1.80 on 5.6 million shares.Royal Bank of Canada (TSX:RY). Financials. Up 35 cents, or 0.33 per cent, to $105.70 on 5.6 million shares.Manulife Financial Corp. (TSX:MFC). Financials. Up 21 cents, or 0.79 per cent, to $26.65 on 5.4 million shares. Companies in the news:Metro Inc. (TSX:MRU). Down $1.92 or 3.4 per cent to $54.10. Grocery and pharmacy chain Metro Inc. is seeing some labour cost savings from its self-checkouts, its chief executive said as the company released quarterly earnings that fell just short of analysts' expectations. Metro reported Tuesday $202 million in wages and fringe benefits for the quarter ended Dec. 21. That's down from $206.4 million in the same quarter the previous year. The company reported a profit of $170.2 million for the quarter compared with a profit of $203.1 million in the same quarter the previous year when its results were boosted by the sale of its investment in Colo-D Inc.Calfrac Well Services Ltd. (TSX:CFW). Up three cents or 2.9 per cent to $1.05. One of Canada's largest oil and gas well completion companies is reporting a loss in the fourth quarter of 2019 as demand for its services remains at a low ebb. Using preliminary figures, Calgary-based Calfrac Well Services Ltd. says it will register a loss before income taxes of between $69 million and $74 million for the three months ended Dec. 31 on revenue of between $310 million and $325 million. In the same period of 2018, the company, which has operations in Western Canada, the United States, Argentina and Russia, reported a net loss of $3.5 million on revenue of $499 million.Shopify Inc. (TSX:SHOP). Up $20.55 or 3.45 per cent to $615.42. Shopify Inc. says it will hire 1,000 people in Vancouver and open its first permanent office in the city in late 2020. The Ottawa-based technology company says it will be hiring back-end developers, data engineers, mobile developers, web developers, product designers and product managers in the city. Instead of the temporary rental space Shopify currently uses in the city, the employees will work from a four-storey office at Four Bentall Centre in downtown Vancouver that will span 6,500 square metres. Shopify says it is adding Vancouver to its current roster of offices in Ottawa, Toronto and Montreal because it sees the city as a hub for talent and conducive for growth.Superior Plus Corp. (TSX:SPB). Down 94 cents or 7.4 per cent to $11.74. Superior Plus Corp. has decided to not sell its specialty chemicals business following a strategic review of the operations. The company says the review involved an assessment and negotiation of formal offers for the business which operates under the trade name ERCO Worldwide. It says the sales process attracted "considerable interest." However, chief executive Luc Desjardins says the final bids did not meet its expectations and the company sees better value for shareholders in continuing to run the business. Superior plans to continue to operate and invest in both its energy distribution and specialty chemicals businesses, growing organically and through strategic acquisitions.Hudson Bay's (TSX:HBC). Unchanged at $10.93. A special committee of Hudson Bay's board is reaffirming its endorsement of a buyout of shares to take the company private after receiving an updated valuation, one of the conditions of a deal that was announced earlier this month. On Jan. 3, the company that owns the chain of department stores announced a group headed by executive chairman Richard Baker raised its going-private offer to $11 per share, satisfying Catalyst Capital Group, its leading rival shareholder which controls about 17.5 per cent of the company's common shares. Catalyst said that one condition was that TD Securities Inc. provide a new formal valuation of Hudson's Bay Co. prior to a vote and that "the lower end of the range of the fair market value of the HBC Shares is equal to or less than $11."This report by The Canadian Press was first published Jan. 28, 2020. The Canadian Press
(Bloomberg) -- Snowflake Inc.’s database software has emerged in an annual report as the fastest-growing cloud-based software program, signaling strong corporate demand for modern tools to help analyze data.Snowflake’s use among clients more than tripled in 2019, software maker Okta Inc. said Tuesday in its annual Businesses @ Work report, which tracks the popularity of corporate software. Atlassian Corp.’s Opsgenie tool took the No. 2 spot as fastest-growing, with a gain of 194%. Alphabet Inc.’s Google Cloud came in third place and Splunk Inc. in fourth.The cloud applications market generated $121 billion of revenue in 2018, according to research firm IDC. The infrastructure market, where Google Cloud competes, produced $36 billion in annual revenue, the firm said.Snowflake makes cloud-based data warehouses, a type of database that compiles information from various sources so it can be analyzed. The company competes against Amazon.com Inc.’s cloud division and database stalwarts such as Oracle Corp. The San Mateo, California-based startup is considering going public, although the chief executive officer has said the the earliest the company could be ready for such a move would be this summer.Opsgenie makes incident management software that notifies workers about critical issues to reduce or avoid service downtime. Todd McKinnon, the chief executive officer of Okta, said the types of software on the list represent a departure from the traditional business applications that topped the survey in previous years, such as office communications platform Slack Technologies Inc. and videoconferencing company Zoom Video Communications Inc.“This was the first year where the fastest-growing things were infrastructure tools or security tools,” McKinnon said in an interview. “It’s a natural coming of age. We’ve put a bunch of apps in place. Now you have to make sure they’re secure, that users aren’t being phished, that you’re using the data in those apps for insights.”The most popular corporate apps overall, by unique monthly active users, are Microsoft Corp.’s Office 365, Workday Inc. and ServiceNow Inc. Google’s G Suite and Salesforce.com Inc. round out the top five.Increasingly, corporate developer teams are buying work tools independent of their IT organizations. The most popular developer software is the Atlassian Product Suite, Okta said. It was followed by Microsoft Corp.’s GitHub, PagerDuty Inc., New Relic Inc., and the newly public Datadog Inc.Okta crunches these numbers based on data from its 7,500 customers, which use the software to securely log into various tech systems. The report presents and analyzes data from Nov. 1, 2018, to Oct. 31, 2019.(Updates with additional details in eighth paragraph. An earlier version of this story corrected the full name of Snowflake Inc. in the first paragraph.)To contact the reporter on this story: Nico Grant in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew Pollack, Molly SchuetzFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg Opinion) -- 3M Co.’s messy quarter does little to inspire faith in the company or the industrial economy at large.The maker of Post-it notes, Scotch tape and wound dressings announced a pair of charges – $134 million for a restructuring plan and $214 million for litigation related to PFAS chemicals – that pulled its fourth-quarter earnings per share below analysts’ estimates. 3M’s particular issues aside, the company sits on the front lines of any economic swings, and there was scant evidence in its results that the great industrial turnaround heralded by President Donald Trump’s trade truce with China has in fact arrived.Sales at 3M fell 2.6% in the fourth quarter after backing out the impact of acquisitions and currency swings, leaving the company with its biggest annual decline on that basis since 2009. With U.S. tariffs still in place on some $360 billion of Chinese goods, political uncertainty tied to the American presidential election and few specifics about alleged purchasing commitments from China — not to mention the potential economic impact of the widening coronavirus crisis — a recovery is apt to be more muted.(1) 3M’s concerns run deeper than just a weak macroeconomic backdrop, though. PFAS — which stands for per- and polyfluoroalkyl substances — are known as the “forever chemicals” because they don’t break down in the environment and accumulate in the body. They have been linked to health problems including cancer and immune system dysfunction, spurring a series of lawsuits against manufacturers including 3M and DuPont de Nemours Inc.’s Chemours Co. spinoff. The charge 3M announced Tuesday reflects updated expectations for customer-related litigation and environmental matters for sites where it historically manufactured the chemical. 3M also disclosed on Tuesday that it had received a grand jury subpoena related to non-compliant discharges from an Alabama facility, and said it had discovered similar issues at an Illinois plant as part of a fourth-quarter review.The charges are a reminder of how much investors still don’t know about 3M’s financial exposure to lawsuits and potential environmental regulation. Gordon Haskett analyst John Inch has estimated 3M’s ultimate liability for PFAS – including remediation, personal injury settlements and monitoring expenses – could be about $27 billion. The company didn’t do itself any favors by waiting until the call to disclose the grand jury probe. That was General Electric Co.’s attitude in 2018 when it casually dropped a mention of a Securities and Exchange Commission investigation into some of its accounting practices an earnings call. That isn’t the company you want to keep when it comes to transparency and accountability.In that light, I treat 3M’s latest restructuring push with a dose of skepticism. The company will dismantle the international operations arm that was tasked with setting priorities for geographic regions and instead give its business groups global control over decisions affecting their strategy and resources. This is meant to be “the next step in its transformation journey” following a shakeup last year, where 3M rethought how its businesses are divided up. The idea was to group its products by customers, rather than market – i.e. sales of automotive products to retail shops would fall under the “consumer” unit rather than be lumped in with automotive revenue from manufacturers or body shops. In theory, this all makes sense and should streamline decision-making processes; 3M says it will help the company save as much as $120 million a year. But it also feels like a bit like reshuffling the deck and a convenient way to throw some corporate-speak at a plan to cut 1,500 jobs that might otherwise have felt less like a “transformation” and more like a reaction to still stubbornly sluggish sales growth.For 2020, 3M warned organic sales may be flat at worst. That’s a weaker forecast than some analysts had been expecting, but RBC analyst Deane Dray warned even this downbeat outlook may not be pessimistic enough. It’s possible sales slump yet again, particularly given 3M’s dependence on China’s economy and the impact from the coronavirus outbreak. 3M had been modeling low-to-mid-single digit growth in China in 2020 off of depressed 2019 numbers, CEO Mike Roman said on the earnings call. While the company had already been expecting a sluggish start to the year in China largely due to still-weak automotive markets, the coronavirus is “changing things as we go,” Roman said. Offsetting the possible negative impact on China’s overall economy is the growing demand for 3M’s face masks and other respiratory-protection products.The coronavirus aside, it’s hard to give 3M the benefit of the doubt after a staggering series of guidance cuts over the course of 2018 and 2019. Even if 3M finally did get its outlook right for a change, its best-case scenario for sales growth is a meager 2% increase. Such sluggish but stabilized revenue growth is likely to describe many manufacturing companies’ performance in 2020, but unlike 3M — which declined in 2019 and fell again on Tuesday’s earnings news — many of them aren’t priced for that kind of environment.(1) Elsewhere on Tuesday, CommerceDepartmentdata showed orders for non-military capital goodsexcluding aircraft—a proxy for business investment —unexpectedly declined 0.9% in December.To contact the author of this story: Brooke Sutherland at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Chemours (CC) anticipates the collaboration to help Sharc Energy engage in refrigerant solutions that are more environmentally sustainable.
How far off is Lions Gate Entertainment Corp. (NYSE:LGF.A) from its intrinsic value? Using the most recent financial...
Jazz (JAZZ) files regulatory application seeking approval for JZP-258, a low sodium formulation of Xyrem, in the United States.
It could be another choppy day ahead for the majors. While economic data out of the U.S will influence, the majors will be in the hands of the news wires.
A Canadian exchange traded fund provider is winding down its cannabis offering as shares of publicly traded pot companies continue to slump.
Domestic oil drillers may again remove rigs since explorers have decided to curb spending on the drilling of new wells for the second straight year in 2020.
(Bloomberg) -- Justin Trudeau returns to a fragmented parliament Monday facing sharp domestic divisions with the clock ticking on two of the tougher decisions of his political career.The prime minister must determine whether China’s Huawei Technologies Co. should be allowed to develop Canada’s fifth-generation wireless networks. He also needs to approve or reject a massive new oil project, even as he strives to reduce the nation’s greenhouse gas emissions. Getting sign-off on the new North American free trade agreement, which he’ll tackle right away, should be easy by comparison.Trudeau’s approval rating got a bump from his handling of the Jan. 8 jet crash in Iran that killed 57 Canadians. He’ll need that goodwill as he starts his second mandate in a much more precarious position than his first. Canada’s economy slowed sharply at the end of last year, so smoothing relations with commodity hungry China will be crucial. As will getting the nation’s energy sector back on its feet after a $30 billion exodus of foreign capital.With three potential dance partners in the legislature, there’s little chance Trudeau’s Liberals will fail to ratify the new Nafta. Sealing the deal will solidify Canada’s most important trading relationship, which was upended by the election of Donald Trump -- a disruption that’s reshaped how Canada deals with global challenges.“We’re living in a world without U.S. protection,” said Stephanie Carvin, a professor at Carleton University in Ottawa and former government intelligence analyst. “I’m not sure that we’ve prepared for that.”China’s WrathTrudeau’s mettle is being tested by a bitter feud with China over Huawei, whose chief financial officer is fighting extradition to the U.S. on accusations she tricked banks into violating Iran sanctions.Beijing bristled at Canada’s detention of Meng Wanzhou at the end of 2018 while on a layover in Vancouver. China swiftly locked up two Canadians it accuses of spying and halted nearly C$5 billion ($3.8 billion) worth of agricultural imports, plunging Sino-Canadian relations into their darkest period in half a century.Trudeau, who has sought Trump’s help in the dispute to no avail, poured cold water on suggestions he halt Meng’s extradition as part of a prisoner exchange for the Canadians. “We are a country of the rule of law and we will abide by the rule of law,” the prime minister told reporters in Winnipeg, Manitoba.China is also lobbying hard for Canada to allow Huawei access to 5G. Trudeau’s new public safety minister didn’t offer any hints on the timing of a decision at last week’s cabinet retreat, but Bill Blair now says “there are a number of other significant economic and even geopolitical considerations being considered” alongside security issues.The government may be waiting to see what its allies do. While the White House is pushing for an outright ban, Boris Johnson’s government is weighing a mixed strategy that would keep the state-championed Chinese firm out of sensitive core elements of U.K. networks. “If Britain chooses to go with the regulatory approach, it will make it easier for Canada to do so,” Carvin said.Having campaigned last fall on lowering mobile-phone bills in Canada, it’ll be hard for Trudeau to order companies like BCE Inc. and Telus Corp. to rip out millions of dollars worth of existing Huawei equipment, she added.While dealing with China will occupy the bulk of Canada’s foreign policy agenda, it’s also been playing an activist role in Venezuela’s political crisis. Trudeau will host Juan Guaido in Ottawa Monday as the opposition leader tries to rekindle international support for his push to oust President Nicolas Maduro.Western WoesDomestically, the prime minister needs to reassure voters on Canada’s prairies that he hasn’t abandoned them. Key to that will be deciding on the C$20 billion Frontier oil-sands mine proposed by Teck Resources Ltd. in northern Alberta.In his first mandate, Trudeau introduced a nationwide carbon tax and overhauled the regulatory process for major energy projects. Those moves won plaudits from environmentalists but met stiff opposition from provincial premiers. During the campaign, Trudeau doubled down and committed Canada to net-zero emissions by 2050.October’s vote saw the Liberals fail to elect a single lawmaker in Alberta or Saskatchewan. “The mood has only gotten uglier and more hopeless in those western provinces,” said Shachi Kurl, executive director of the Angus Reid Institute polling firm.A Brexit-inspired separatist movement has even sprung up. While few think it could ever succeed, Trudeau overhauled his front bench to address western alienation -- promoting Chrystia Freeland to deputy prime minister with a mandate to mend federal-provincial fences.As much as Trudeau is trying to position Canada as a global leader on climate change, he also nationalized a pipeline, buying the Trans Mountain line from Kinder Morgan Inc. in 2018 for C$4.5 billion. A controversial expansion of the conduit cleared a major legal hurdle at Canada’s top court this month and construction is set to pick up this year.Increasing the flow of oil out of Alberta would be a vital boost for struggling producers, who are again facing a steep discount for their heavy crude. Teck’s mine got a tentative green light in July. The Liberals have to make a final call by the end of February, but approval from the company isn’t guaranteed given the project was conceived in a different price environment.“Politically, this is being put forward as the Trudeau government making a decision about whether or not 7,000 people are going to have jobs in Alberta” instantly, said Andrew Leach, an economist at the University of Alberta in Edmonton. “Teck has not said anything of the sort.”In confronting his domestic challenges, Trudeau might find himself seeking support from an unlikely place: the official opposition bench.“The Conservatives are obvious allies in getting Nafta through,” said Brian Topp, a former adviser to New Democratic Party leaders. “They’re also obvious allies to the government as it thinks about how to respond to the commodities crash on the prairies.”\--With assistance from Natalie Obiko Pearson and Kevin Orland.To contact the reporter on this story: Stephen Wicary in Ottawa at firstname.lastname@example.orgTo contact the editors responsible for this story: Theophilos Argitis at email@example.com, Chris FournierFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.