Laurentian Bank Q4 net income down 13%, misses analyst estimates

Laurentian Bank Q4 net income down 13%, misses analyst estimates
MONTREAL — Laurentian Bank of Canada’s fourth-quarter net income dropped by 13 per cent from the previous year to $50.8 million, on lower revenues and loan volumes, and missed analyst estimates. The Montreal-based company’s net income amounted to $1.13 per diluted share during the three months ended Oct. 31, down from $1.42 during the same period a year ago. Analysts had expected earnings of... Read More

Bank of Canada expected to hold benchmark interest rate as economic clouds gather

Bank of Canada expected to hold benchmark interest rate as economic clouds gather
OTTAWA — The Bank of Canada is widely expected to leave its benchmark interest rate unchanged at 1.75 per cent today after a 25-basis-point increase at its last setting in October. This morning’s announcement comes in the wake of a move by the Alberta government to curtail oil production in the province after Jan. 1 to try to clear a crude storage glut that has driven western... Read More

HBC posts lower Q3 loss as Saks Fifth Avenue drives improvement in overall sales

HBC posts lower Q3 loss as Saks Fifth Avenue drives improvement in overall sales
TORONTO — Hudson’s Bay Co. says it had a smaller overall third-quarter loss than last year as sales increased by 5.6 per cent to $2.2 billion, with its Saks Fifth Avenue brand of luxury retail stores continuing to show improvements. The Toronto-based retailer’s net loss was $164 million or 69 cents per share, including discontinued operations That’s down from last year’s... Read More

Roots lowers long-term earnings estimates following weak sales in Q3

Roots lowers long-term earnings estimates following weak sales in Q3
TORONTO — Roots Corp. has lowered its sales and earnings estimates from targets set when the company went public in October 2017 after sales fell “well below” its own expectations in the third quarter. The clothing company’s total sales for the three months ended Nov. 3 were $87 million, down three per cent from $89.7 million last year when Roots benefited from... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,063.59, down 211.39 points). Aphria Inc. (TSX:APHA). Health care. Down $1.61, or 21.18 per cent, to $5.99 on 27.3 million shares. Aurora Cannabis Inc. (TSX:ACB). Health care. Down 40 cents, or 5.32 per cent, to $7.12 on 9.8 million shares. Bombardier Inc. (TSX:BBD.B). Down 14 cents, or 6.19... Read More

AGT Food agrees to CEO-led go-private deal that values it at about $436 million

AGT Food agrees to CEO-led go-private deal that values it at about $436 million
REGINA — AGT Food and Ingredients Inc. has agreed to be taken private by investors including CEO Murad Al-Katib in a deal that values the company at $436 million. The Regina-based company says it has elected to proceed with the $18-per-share transaction proposed last July upon the recommendation of a special committee of independent directors and a fairness opinion from TD Securities. In... Read More

Bank of Montreal hikes dividend as it reports Q4 net income surge

Bank of Montreal hikes dividend as it reports Q4 net income surge
TORONTO — Bank of Montreal hiked its dividend as it reported a fourth-quarter profit that jumped 38 per cent compared with a year ago and beat analyst estimates. Canada’s fourth-largest bank said Tuesday it will now pay a quarterly dividend of $1 per share, up four cents from its previous payment. The increase in payment to shareholders came as BMO reported its... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (15,274.98, up 77.16 points). Aphria Inc. (TSX:APHA). Health care. Down $2.91, or 27.69 per cent, to $7.60 on 32.8 million shares. Aurora Cannabis Inc. (TSX:ACB). Health care. Down eight cents, or 1.05 per cent, to $7.52 on 16.9 million shares. Bombardier Inc. (TSX:BBD.B). Up four cents, or 1.8 per cent,... Read More

Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week: More bank earnings BMO Financial Group releases its fourth-quarter and year-end results on Tuesday and National Bank of Canada reports its results on Wednesday to wrap up the latest financial results from the country’s biggest banks. The results so far have been mixed as Royal Bank... Read More

Statistics Canada says pace of Canadian economic growth slowed in third quarter

Statistics Canada says pace of Canadian economic growth slowed in third quarter
OTTAWA — The pace of economic growth in Canada slowed in the third quarter as business investment spending moved lower and the growth in household spending slowed, Statistics Canada said Friday. The Canadian economy grew at an annualized pace of 2.0 per cent in the third quarter compared with 2.9 per cent in the second quarter, matching the expectations of economists, according... Read More