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Cisco Systems, Inc.
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Texas Instruments Incorporated
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Dell Technologies Inc.
Occidental Petroleum Corporation
NXP Semiconductors N.V.
Johnson Controls International plc
DTE Energy Company
Hewlett Packard Enterprise Company
CMS Energy Corporation
Seagate Technology plc
International Flavors & Fragrances Inc.
CNH Industrial N.V.
Cenovus Energy Inc.
ON Semiconductor Corporation
Teck Resources Limited
TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:Toronto Stock Exchange (16,950.85, down 46.12 points.)Aurora Cannabis Inc. (TSX:ACB). Health care. Up 25 cents, or 7.79 per cent, to $3.46 on 10.8 million shares.Encana Corp. (TSX:ECA). Energy. Up six cents, or 1.12 per cent, to $5.41 on 6.9 million shares.Canopy Growth Corp. (TSX:WEED). Health care. Up $3.45, or 14 per cent, to $28.17 on 6.4 million shares.Wallbridge Mining Co. Ltd. (TSX:WM). Materials. Up 4.5 cents, or 5.73 per cent, to 83 cents on 5.3 million shares.Enbridge Inc. (TSX:ENB). Energy. Up 25 cents, or 0.49 per cent, to $51.35 on 5.2 million shares.Manulife Financial Corp. (TSX:MFC). Financials. Down three cents, or 0.12 per cent, to $25.42 on 5.1 million shares. Companies in the news:Canopy Growth Corp. — Canopy Growth Corp.'s appointment of a veteran Constellation Brands executive as its new chief executive gave the cannabis producer's shares a lift on Monday. The share surge came after the Smiths Falls, Ont., company announced that David Klein, the chief financial officer at Canopy's largest shareholder, will replace Mark Zekulin effective Jan. 14. Klein has been serving as chairman of the board at Canopy, which intends to appoint a new chairman once Klein takes over as CEO. He said no company is better positioned to succeed in the emerging cannabis market. Zekulin is a founding employee at Canopy and has served in a variety of roles including president, co-CEO and finally as CEO after co-founder Bruce Linton was ousted earlier this year.Transcontinental Inc. (TSX:TCL.A). Down 44 cents or 3.2 per cent to $13.10. A proposal by a Montreal municipal committee to drastically cut down on mail flyers is "insensitive, incoherent and impractical," according to the CEO of Transcontinental Inc. Francois Olivier said Monday a recommendation last week by the municipality's environmental committee to distribute the discount flyers only to residents who opt in fails to take into account Quebec consumers' needs and hands a flyer monopoly to Canada Post. The head of the packaging and printing company joined with union members and media Monday to call for further consultation with Mayor Valerie Plante.Hudson's Bay Co. (TSX:HBC). Down nine cents to $9.04. Hudson's Bay Co. minority shareholders should vote against a privatization bid led by the retailer's executive chairman, says an influential proxy advisory service that points to a rejected, higher-priced offer. Institutional Shareholder Services Inc. recommended minority shareholders vote against the Richard Baker-led bid of $10.30 per share that has received the HBC board's approval. The proxy advisory service raised several concerns about the sale process, including around disclosures and the ability for a special committee formed to review the Baker bid to consider other proposals. HBC said the ISS report is "flawed" and, among other things, misunderstands the superior proposal construct, it said.This report by The Canadian Press was first published Dec. 9, 2019.The Canadian Press
(Bloomberg) -- International Flavors & Fragrances Inc. has emerged as a strong contender to purchase DuPont Inc.’s nutrition division, challenging Ireland’s Kerry Group for the $25 billion asset, according to people with knowledge of the matter.IFF and Kerry are both negotiating with DuPont and the winner could reach a deal by year-end, the people said, asking not to be identified as the discussions are private. The transaction will create a new company comprised of the bidder’s assets and DuPont’s nutrition business that will be spun off to existing investors, the people said.DuPont shareholders will emerge from the so-called Reverse Morris Trust with a significant stake in the business, the people said. The new company aims to have an investment-grade credit rating and its board will include directors from DuPont and the bidder, the people said. The transaction is likely to take at least a year to close, they said.Representatives for DuPont, IFF and Kerry declined to comment. Discussions between the companies could still fall apart or Dupont could opt for a spinoff instead, the people said.IFF presents DuPont Chairman Ed Breen and Chief Executive Officer Marc Doyle with a distinct alternative to Kerry. While an RMT is easier between two U.S. companies, IFF’s $7.1 billion purchase of Frutarom Industries Ltd. last year is still absorbing management time and has increased leverage. In Kerry, they have an Irish company with deep roots in the dairy industry that’s keen to expand in food ingredients. Kerry trades at a higher earnings multiple than IFF, offering a potentially bigger valuation uplift to DuPont shareholders.Shares of IFF dropped as much as 3.6% to $136.89 in New York. Kerry declined 0.1% to 116.40 euros in Dublin. Dupont gained as much as 2%. The purchase would make “strategic sense, allowing IFF to offer a more complete product suite to a broader customer base,” according to Mark Astrachan, an analyst at Stifel, who said it would make it the largest global specialty ingredients company. It would put IFF at a “strategic advantage versus peers, while not acquiring the asset would similarly disadvantage the company.” DuPont opted for the most tax-efficient option to reward shareholders after the value of its nutrition business had wallowed below industry levels as part of a diversified company.The deal would be the biggest ever for IFF, which makes flavors and fragrances for food, beverages, personal care and household products. The company’s last big acquisition was in the food-flavoring industry last year, when it bought Israel’s Frutarom Industries Ltd. for $7.1 billion including debt.Kerry has long wanted to expand in healthy bacteria strains, ingredients found in dietary supplements, cheese and bakery products, and nutritional products that claim to have some sort of role in assisting in disease treatment or prevention. Kerry’s heritage lies in milk, cheese and other dairy products, and the company collects a billion liters of milk a year from small family farms in the southwest of Ireland.(Updates with share prices in sixth paragraph.)\--With assistance from Andrew Noël and Kiel Porter.To contact the reporters on this story: Nabila Ahmed in New York at email@example.com;Dinesh Nair in London at firstname.lastname@example.org;Ed Hammond in New York at email@example.comTo contact the editors responsible for this story: Anthony Palazzo at firstname.lastname@example.org, Kevin MillerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Ball Corporation (BLL) remains poised to bank on customers' growing preference for cans over glass and plastic demand by investing in capacity and products.
Oracle's (ORCL) fiscal second-quarter results are expected to reflect solid adoption of cloud-based services and latest Autonomous Database.
The Canadian dollar is steady on Monday, after weak Canadian job numbers sent the currency lower on Friday. EUR/GBP has dropped to its lowest level since May 2017, as the pound continues to gain ground.
The presentation, addressed to HP shareholders, comes two weeks after Xerox said it was planning to take its $33.5 billion buyout bid directly to HP shareholders after HP refused to open its books for due diligence. Xerox said revenue growth of $1 billion to $1.5 billion can be achieved through a three-year roadmap, which involves cross-selling products and streamlining operations. The combined company will have a free cash flow of more than $4 billion in the first year before any synergies, Xerox added.
Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. We'll show how you can...
The Zacks Analyst Blog Highlights: Microsoft, United Technologies, Procter & Gamble, Walmart and Intel
Intel Corp on Monday announced a chip that it hopes will change that. Quantum computers remain years away from everyday use but have drawn the interest of major technology companies. In October, researchers at Alphabet Inc's Google said they had created a machine that can outpace conventional computers.
(Bloomberg) -- Xerox Holdings Corp. believes its proposed HP Inc. takeover would create as much as $1.5 billion in potential revenue growth, according a presentation to HP’s shareholders made public Monday.The printer maker outlined its case for a tie-up between the companies, arguing the combined firm will be worth about $31 a share to HP investors on a pro-forma basis. The merged entity will generate more than $4 billion in free cash flow in the first year before taking any synergies into account, according to the presentation, confirming a report in Bloomberg News.“The value of the transaction goes beyond economics. In consolidating industries, first movers not only win but also have an opportunity to reshape the competitive landscape in an enduring way,” John Visentin, Xerox’s chief executive officer, said in the presentation.Xerox has already said it believes the combination would create roughly $2 billion in synergies, which it argues could be achieved in 24 months. Those savings could be achieved through streamlining their operations by reducing the number of suppliers the combined company would use, cost reductions on information technology and reducing its real estate footprint, among other measures.The presentation for HP shareholders goes further, saying a merger of their operations would allow cross-selling and a unified platform for clients. That could yield an estimated $1 billion to $1.5 billion revenue growth, Xerox said.To get to this amount, Xerox says it has a three-year roadmap that includes generating $540 million to $750 million from pitching complementary products to existing clients, $50 million to $100 million from manufacturing and distribution efficiencies and $350 million to $400 million from integrating HP products into Xerox’s office-as-a-service offerings.It also said there could be $300 million to $400 million in growth from Xerox’s services and software and $150 million to $300 million from offering Xerox’s leasing options to HP customers. A representative for Xerox declined to comment, while a representative for HP couldn’t immediately comment.HP’s shares were little-changed at $20.50 at 9:58 a.m. Monday, while Xerox rose less than 1% to $37.99.HP last month rejected an unsolicited, cash-and-stock offer from Xerox worth $22 per share, arguing it undervalued the company and citing concerns about the health of its smaller rival’s business. Xerox said it planned to take its case straight to HP’s shareholders after the Palo Alto-based hardware maker refused to grant the mutual due diligence it requested.The presentation to be released publicly Monday is the first step in that effort, and Visentin will start meeting some HP shareholders this week to sell the plan. Xerox has asked for three weeks of mutual due diligence in order to validate its case for a tie-up, noting in the presentation it expects no financing conditions and no regulatory risks.JPMorgan Chase & Co. analysts said this month that a merger carried risks and could cause some near-term downside in both stocks. Their Dec. 3 note added that the deal would leave investors more exposed to “a declining printer business.”Activist investor Carl Icahn, who owns as stake in both companies, called on HP last week to push ahead with the talks, calling the deal a “no-brainer.” He accused the company’s directors and management of seeking to preserve their own jobs instead of protecting shareholders’ interests. He argued HP’s standalone plans amount “to little more than rearranging the deck chairs on the Titanic.”Icahn is Xerox’s largest holder with a nearly 11% stake in the Norfolk, Connecticut-based company. He also owns a 4.2% of HP, making him its fifth-largest holder, according to data compiled by Bloomberg.(Updates with details of presentation starting in first paragraph)To contact the reporter on this story: Scott Deveau in New York at email@example.comTo contact the editors responsible for this story: Liana Baker at firstname.lastname@example.org, Fion Li, Ben ScentFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The recent production cut of 500,000 BPD from the OPEC+ group is set to result in total output cut of 1.7 million BPD, which represents 1.7% of global demand.
CNH Industrial's (CNHI) acquisition of K-Line Ag will help the company incorporate key tillage and residue-management equipment for optimal seedbed preparations.
As the holiday season approaches, let's take a look at stocks from Canadian Tire, Cineplex, and Suncor -- high-yield stocks you may consider for your portfolio.