Stock Market News for Investors: Canopy Growth Acquires MTL Cannabis in $125 Million Deal

Luc Mongeau, CEO of Canopy Growth, says MTL’s cultivation expertise combined with the dimensions of its company allows it to enhance product quality, expand offerings and speed up its path to profitable growth.

Under the terms of the agreement, MTL shareholders will receive 0.32 of a Canopy Growth common share and 14.4 cents in money for every MTL share they hold. Canopy shares closed at $2.40 on Friday on the Toronto Stock Exchange.

The deal is subject to approval from regulators and MTL shareholders. The transaction is anticipated to shut before the top of February.

BlackBerry reported a third-quarter profit of $13.7 million, up from a loss a yr earlier

BlackBerry Ltd. reported a third-quarter profit of $13.7 million, in comparison with a lack of $10.5 million in the identical period last yr. The Waterloo-based software company, which keeps its books in U.S. dollars, said Thursday that its earnings per share were two cents, flat from the identical quarter last yr.

BlackBerry said revenue reached $141.8 million within the period ended Nov. 30, down from $143.6 million within the third quarter last yr.

BlackBerry CEO John Giamatteo says in a press release that the corporate’s QNX segment has achieved record sales. QNX segment revenue was $68.7 million, up 10 percent from $62.3 million a yr ago.

Giamatteo said the corporate’s better-than-expected total revenue, combined with continued cost discipline efforts, helped the corporate achieve its highest profitability in nearly 4 years this quarter.

Transat AT reported a fourth-quarter lack of $12.5 million, compared with a profit of $41.2 million a yr ago

Travel company Transat AT Inc. reported a lack of $12.5 million in its most up-to-date quarter, compared with a profit of $41.2 million in the identical quarter last yr. The company said its loss for the quarter ended Oct. 31 was 52 cents per diluted share, compared with a profit of $1.05 per diluted share a yr earlier.

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Transat’s fourth-quarter revenue was $771.6 million, down from $788.8 million a yr earlier, as the corporate benefited from compensation related to problems with Pratt & Whitney’s GTF engines. Excluding the impact of this lower compensation, Transat said sales increased by 1.5 percent in comparison with the previous yr.

On an adjusted basis, Transat said it lost 42 cents per share in its most up-to-date quarter, compared with adjusted earnings of 81 cents per share within the year-ago quarter.

Last week, Transat narrowly avoided a costly work stoppage because it negotiated a brand new interim contract with its pilots.

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Via Canadian Press

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