Investor Stock News: Canopy Growth to Acquire MTL Cannabis for $125M

Canopy Growth CEO Luc Mongeau said MTL’s cultivation expertise, combined with its company’s scale, allows it to improve product quality, expand supply and accelerate profitable growth.

Under the terms of the agreement, MTL shareholders will receive 0.32 shares of Canopy Growth common stock and 14.4 cents in cash for each MTL share held. Canopy shares closed Friday at $2.40 on the Toronto Stock Exchange.

The transaction requires regulatory and MTL shareholder approval. The transaction is expected to close by the end of February.

BlackBerry reports third-quarter profit of $13.7 million, up from loss a year ago

BlackBerry Ltd. reported third-quarter profit of $13.7 million, up from a loss of $10.5 million in the same period last year. The Waterloo-based software company, which keeps its books in U.S. dollars, said Thursday it earned 2 cents a share, unchanged from a year earlier.

BlackBerry said revenue for the quarter ended Nov. 30 was $141.8 million, down from $143.6 million in the third quarter last year.

BlackBerry CEO John Giamatteo said in a press release that revenue from the company’s QNX unit reached an all-time high. QNX segment revenue was $68.7 million, an increase of 10% from $62.3 million in the same period last year.

Giamatteo said the company’s higher-than-expected overall revenue, coupled with continued cost-control measures, helped it achieve its strongest profitability in nearly four years in the quarter.

Transat AT reports fourth-quarter loss of $12.5 million, compared with profit of $41.2 million a year ago

Travel company Transat AT Inc. reported a loss of $12.5 million in its latest quarter, compared with a profit of $41.2 million a year earlier. The company said it lost 52 cents per diluted share in the quarter ended Oct. 31, compared with diluted earnings per share of $1.05 a year earlier.

The article continues as follows

Transat’s fourth-quarter revenue totaled $771.6 million, down from $788.8 million a year ago, when the company benefited from compensation related to Pratt & Whitney GTF engine problems. Transat said revenue, excluding the impact of lower pay, was up 1.5% from a year ago.

Transat said it lost an adjusted 42 cents a share in the latest quarter, compared with an adjusted profit of 81 cents a share a year earlier.

Last week, Air Transat narrowly avoided a costly shutdown by agreeing new temporary contracts with pilots.

Read more news:

About The Canadian Press

The Canadian Press is Canada’s trusted news source and a leader in real-time reporting. We are driven by authenticity, accuracy and timeliness, providing Canadians with a true, unbiased source of information.