Financial News

Earnings Flash (RET.V) Reitmans Reports Q4 Revenue C$207.2M, Up 1.2%; Net Loss $4.9M

Earnings Flash (PNC.A, PNC.B) Postmedia Reported Q2 Revenue C$110.0M Vs $110.8M A Year Ago; Net Income $3.5M, Vs Net Loss $16M

US Shale Activity May Accelerate as Volatility Drives 'Race to Lock in Costs', Rystad Says

US shale producers could step up drilling activity in response to elevated oil prices and supply disruption risks, though a US-Iran ceasefire and geopolitical uncertainty may delay near-term decisions, Rystad Energy strategists said in a note Thursday.Rystad analysts said early signs of increased exploration and production activity are emerging as some operators prepare to lock in rigs and services before oilfield inflation accelerates.However, the consultancy said that geopolitical uncertainty remains the dominant constraint on capital allocation, with many producers still in "wait and see" mode following the announcement of the US-Iran ceasefire."Recent days have seen the first public indications that US oil exploration and production companies intend to add activity in response to higher prices," Jai Singh, head of North America Oil and Gas Research at Rystad, said.Singh said that if the momentum behind adding activity becomes clear, the 'wait and see' logic could quickly turn into 'don't miss the boat' on service costs.Rystad warned that for a typical Permian Basin well, a 10% rise in drilling and completion costs could lift breakeven prices by about $3.57 per barrel and reduce internal rates of return by about 40% over a well's lifetime compared with wells drilled before cost escalation.The consultancy said that US producers had maintained capital discipline during the recent spike in crude prices, triggered by geopolitical tensions, before moving to a more cautious stance focused on hedging and cash generation as disruption to Middle East shipping routes intensified.Steep backwardation in futures markets and uncertainty over the duration of supply disruption have further discouraged immediate rig additions, though some operators have begun signalling upward revisions to activity guidance.Continental Resources has become the first US independent to publicly outline plans to increase activity, amid plans to raise CAPEX by 15% to 20% in 2026.Rystad projected that other private operators are likely to follow, with potential confirmation from public companies during the Q1 earnings season.The consultancy estimates the current price environment could support the addition of 30 to 40 rigs and 8 to 12 hydraulic fracturing fleets by year-end. However, supply chain constraints may limit deployment speed.Meanwhile, Rystad said a sustained $85-$90 per barrel West Texas Intermediate environment could drive oilfield service inflation of 18% to 25% in key categories, including frac services, oil country tubular goods, and fuel, echoing conditions seen in 2021.Singh said once companies begin adding rigs and crews, cost inflation could accelerate quickly, rewarding early movers.Rystad said continued geopolitical risk premiums and structural supply uncertainty could keep oil prices elevated into 2027 and 2028, sustaining a supportive backdrop for growth in US shale activity.

US Expands SPR Release with 30 Million Barrel Emergency Exchange, DOE Says

The US Department of Energy on Thursday issued a Request for Proposal for an emergency exchange of up to 30 million barrels of sweet crude from the Strategic Petroleum Reserve.The move continues on the DOE's execution of the 172-million-barrel release authorized as part of a broader coordinated release of 400 million barrels by International Energy Agency member countries aimed at stabilizing global oil markets.The Department said it will continue issuing RFPs as part of this coordinated release effort.Interested parties must submit bids by 11.00 CT on Apr. 13.The crude stock will be sourced from the SPR's West Hackberry site, building on two previous emergency exchange RFPs that awarded a total of 55 million barrels from multiple SPR facilities, including Bayou Choctaw, Bryan Mound, and West Hackberry."Today's action strengthens efforts to move oil quickly to market and address short-term supply pressures," said Kyle Haustveit, Assistant Secretary of the DOE's Hydrocarbons and Geothermal Energy Office."With two earlier exchanges, we are building on proven momentum," he said, adding that premium barrels will be returned later "to bolster long-term readiness at no cost to taxpayers."Under DOE's exchange authority, participating companies will return the borrowed 30 million barrels, along with additional premium barrels, by next year.

Nexus Industrial REIT Seeking $500 Million in a Private Placement of Unsecured Debentures

Nexus Industrial REIT (NXR-UN.TO) after trade Thursday priced a private-placement offering of $500 million of senior unsecured debentures.The REIT said the offering consists of $300 million of Series A Debentures maturing April 14, 2029, carrying a 4.236% annual interest rate, and $200 million Series B Debentures maturing April 14, 2031, paying 4.641% yearly. The debentures are being offered on a private placement basis in each of the provinces of Canada by a syndicate of agents."We are very pleased to announce the successful pricing of Nexus' inaugural debenture offering, with an expected credit rating of BBB (low) with a Stable trend from Morningstar DBRS," said chief executive Kelly Hanczyk. "The expected investment grade rating of our first Debentures reflects our execution on the REIT's long-term, strategic plans and helps position the REIT for future flexibility."The REIT intends to use the net proceeds from the offering to repay existing indebtedness and for general trust purposes. The closing is expected to take place on or about April 14.Nexus units closed up $0.04 to $7.78 on the Toronto Stock Exchange.

Energy Co Of Parana Insider Sold Shares Worth $489,796, According to a Recent SEC Filing

Pedro Franco Sales, Director, on April 08, 2026, sold 153,700 shares in Energy Co Of Parana (ELPC) for $489,796. Following the Form 4 filing with the SEC, Sales has control over a total of 74,844 common shares of the company, with 74,844 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1041792/000129281426002193/xslF345X05/ownership.xml

US Equity Indexes Extend Iran Ceasefire Gains as Truce Likely to Hold Until Talks in Pakistan

US equity indexes rose on Thursday while crude oil futures pared gains amid expectations that a Pakistan-brokered ceasefire deal with Iran will hold until further negotiations in Islamabad to end the war.The Nasdaq Composite rose 0.8% to 22,822.42, with the S&P 500 up 0.6% to 6,824.66 and the Dow Jones Industrial Average higher by 0.6% to 48,185.80, extending gains following a strong rally on Wednesday.The UK's ITV network reported that Iran's Deputy Foreign Minister Saeed Khatibzadeh said the Strait of Hormuz is open. Any civilian vessel can pass with guidance from the Iranian authorities, Khatibzadeh told ITV. "Anybody who communicates with the Iranian authority has permission to pass."Eight ships crossed Hormuz on Thursday, below the usual 135 daily transits, The Wall Street Journal reported.The two-week truce appears to be holding up as fewer strikes were reported across the Middle East on Thursday, CNN reported. Israel's attacks on Lebanon killed more than 250 people while injuring hundreds on Wednesday, according to Reuters.Further, Netanyahu's plan for talks with Lebanon to disarm the militant group reportedly fighting as Iran's proxy addressed concerns raised by Iranian President Masoud Pezeshkian. Tel Aviv's strikes on Lebanon violated the truce deal and, more importantly, would render the upcoming US-Iran peace negotiations in Islamabad meaningless, Reuters cited Pezeshkian as saying.Netanyahu said Israel is planning direct negotiations with Lebanon to establish peaceful relations, but added there is no ceasefire while talks are being pursued, CNN reported.Vice President JD Vance will lead US negotiators in talks with Iran in Islamabad on Saturday, according to media reports. Trump reportedly told NBC News that he was "very optimistic" about reaching a peace deal with Iran, but warned that "if they don't make a deal, it's going to be very painful."West Texas Intermediate crude oil futures were up 4.7% to $98.88, after surging more than 7% higher earlier in the session. Brent crude futures rose 2.4% to $97.01, after climbing almost 5% intraday.Most US Treasury yields fell, with the two-year declining 1.5 basis points to 3.78%. The 10-year was little changed at 4.28%.In economic news, the personal consumption expenditures price index rose by 0.4%, and as expected, the year-over-year rate remained at 2.8%. The price index increased by 0.3% month-over-month in January.The core PCE price index increased by 0.4%, as expected, and the same as in January. The year-over-year rate dropped to 3% from 3.1% in the previous month.US economic growth, measured by gross domestic product, was revised lower to a 0.5% increase in Q4 from a 0.7% gain in the second estimate, compared with estimates for no revision in a survey compiled by Bloomberg.US initial jobless claims rose to 219,000 in the week ended April 4 from an upwardly revised 203,000 in the previous week, compared with expectations for 210,000 in a Bloomberg-compiled poll.In precious metals, gold futures rose 0.4% to $4,794.4 and silver futures climbed 0.5% to $75.79.

United Therapeutics Insider Sold Shares Worth $5,514,306, According to a Recent SEC Filing

Martine A Rothblatt, Director, Chairperson & CEO, on April 08, 2026, sold 9,500 shares in United Therapeutics (UTHR) for $5,514,306. Following the Form 4 filing with the SEC, Rothblatt has control over a total of 679,872 common shares of the company, with 40,513 shares held directly and 639,359 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1082554/000110657826000029/xslF345X05/primarydocument.xml

Clarke Closes Normal Course Issuer Bid; Plans Renewal

Clarke (CKI.TO) after trade Thursday said it completed its normal course issuer bid (NCIB), initially announced on Aug. 7, repurchasing and cancelling 682,542 shares at an average price of C$21.75."The company believes that the NCIB was a prudent use of its financial resources and reflects its confidence in the long-term value of the business and provides shareholders with enhanced optionality and liquidity for their Clarke shares," it said.Following the NCIB's expiry on Aug. 11, 2026, Clarke plans to renew the share buyback with the Toronto Stock Exchange for another 12 months, the company added.The company's shares closed up $0.60 to $25.07 on the Toronto Stock Exchange.

Pending Home Sales Post Biggest Decline in 3 Months Amid High Mortgage Rates, Redfin Says

US pending home sales declined the most in three months during the four weeks ended April 5 as mortgage rates jumped to the highest level since September, Redfin said Thursday.Pending sales fell 2.4% year-over-year to 87,473 units as the weekly mortgage rate jumped to 6.46%, according to the online real estate brokerage."The Iran war and the turmoil it's causing in the markets are the reason mortgage rates are rising," Redfin Data Journalist Dana Anderson said. "The war is also contributing to widespread economic uncertainty, sidelining many would-be homebuyers."The ceasefire that was announced on Tuesday sent oil prices down and rallied markets, and it could help bring mortgage rates back down into the low-6% range."Sales plummeted by more than 15% each in Providence, Rhode Island, Houston and New York, while West Palm Beach, Florida, led the gains.New listings fell 2.6% year-over-year to 101,059 during the four week period, the largest decline in a month."While new listings are losing steam, it's still a strong buyer's market almost everywhere in the country," Anderson said.Newly pending listings grew in March at the fastest pace for the month since 2021 despite an increase in mortgage rates, Zillow Group (Z, ZG) said Monday.Rising mortgage rates and a 2.2% annual increase in home-sale prices -- the biggest in a year -- have pushed the monthly mortgage payment to $2,750, up 0.2% from a year earlier, according to the Redfin report.

Market Chatter: ICE Raises Margin Requirements on Brent, Diesel Futures Amid Middle East Volatility

The Intercontinental Exchange (ICE) is set to sharply increase margin requirements for traders on its Brent crude and European diesel futures contracts amid heightened volatility driven by the Middle East conflict, Bloomberg reported on Thursday.The move will more than double the cost of trading some of the world's most liquid oil benchmarks, and the new margin requirements are to take effect at the close of business on Apr. 10.Margins for the front-month Brent crude contract are to increase to just over $11,000, more than double current levels. For the front-month ICE gasoil contract, a key diesel benchmark, margins are set to jump more than fourfold to nearly $21,000, Bloomberg reported.ICE did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Empire to Acquire Montreal's Mayrand Food Group

Empire Company (EMP-A.TO), and its Sobeys unit, after the close Thursday they entered into an agreement to acquire Mayrand Food Group, a Quebec food retailer operating four large format locations across the Greater Montreal Area.Financials details of the acquisition were not disclosed. The transaction, which is expected to close in first quarter of fiscal 2027, is being completed pursuant to a court approved process and remains subject to customary closing conditions. Mayrand in October filed a notice of intention under the Bankruptcy and Insolvency Act (BIA) to seek protection."Mayrand is a respected Quebec institution with deep local roots and a loyal customer base," said Luc L'Archeveque, Empire's chief customer officer. "This transaction allows the Mayrand brand to continue serving customers and communities while benefiting from Empire's scale, operational expertise, and long term commitment to food retail in Quebec."Empire said it intends to maintain the Mayrand banner and grow the business as a distinct brand.The company's shares closed down $1.28 at $49.55 on Toronto Stock Exchange.

Nouveau Monde Graphite Also Announces US$84M Bought Deal Public Offering, Advancing Phase-2 Matawinie Mine toward FID

Nouveau Monde Graphite Announcing US$297M Equity Financing Package including US$21M Private Placement

TSX Closer: The Index Falls For The First Time In Seven Sessions

The Toronto Stock Exchange closed lower on Thursday, the first drop in seven sessions, on some profit taking, but also on wariness around continuing geopolitical tensions across the Middle East and lingering concerns around inflation with a recent spike in oil prices seen adding to existing tariff-related pressures on global economies.The S&P/TSX Composite Index closed down 142.86 points, or 0.4%, to 33,477.71, even as losses were capped with the Battery Metals Index up 4.5%. Losers were led down by Telecom, down near 3.4%, and Info Tech down near 2.1% as stock pickers weigh inflation risks and Fed minutes showed officials are open to rate hikes if inflation stays above target. Tech stocks are sensitive to interest rate changes due to their reliance on high capital spending. Higher interest rates increase borrowing costs, and could curb investment in innovation and expansion.RBC Economics, in featured analysis on the United States, noted it has been just over one year since 'Liberation Day', when the U.S. administration announced sweeping tariffs on all trade partners to reduce imbalances. But, RBC said, the trade deficit has not narrowed while trade has been diverted.At present, RBC added, all eyes are focused on a new shock: The conflict in the Middle East, which has sent oil prices soaring to near-2022 highs when Russia invaded Ukraine. "Still," the bank said, "beneath the surface, the ramifications of tariffs are building, and spiking oil prices will add to pre-existing tariff price pressures with both core and headline inflation rising in tandem."In a separate, related but more positive note for Canadians, RBC noted a rebalancing in travel from this country continues as U.S. cross border trips decline amid Canadian anger stemming from the U.S. targeting of certain industries here for tariffs and by President Trump calling Canada the 51st state .RBC added a sustained pullback in trips to the United States is increasingly being offset by rising travel to other destinations within Canada as well as abroad. The bank noted travel to the U.S. fell 25.4% in 2025 to 29.1-million trips with weakness persisting into early 2026. Dollars that might have been spent abroad are being recycled domestically with total tourism spending up 1.7% in 2025.RBC also noted the shift kept Canada as a net exporter of travel services in 2025 as spending stayed closer to home, and that tourism GDP grew 4.8% in Q4, outpacing a broader economy that contracted 0.6%, marking the third consecutive quarter of outperformance.Of commodities, West Texas Intermediate closed higher Thursday as Iran continues to block the Strait of Hormuz. WTI did fall off session highs after Israel said it will begin talks with Lebanon. Iran had maintained a two-week ceasefire agreement reached with the U.S. did include a pledge to halt Israeli attacks on Lebanon. WTI crude oil for May delivery closed up $3.46 to settle at US$97.87 per barrel after touching US$102.70 earlier. June Brent oil was last seen up $0.96 to US$95.71.Gold traded higher by midafternoon Thursday as the dollar weakened after the United States reported a key inflation measure rose, and while the U.S. and Iran argued over the terms of their two-week ceasefire deal. Gold for May delivery was up $36.10 to US$4,813.30 per ounce.

US Equity Markets Higher Amid Expectations US-Iran Ceasefire Will Hold

US equity indexes were higher on Thursday even though crude oil prices rose amid expectations that the two-week US-Iran ceasefire will hold as negotiators gather in Pakistan for discussions.* Iran's Deputy Foreign Minister Saeed Khatibzadeh said the Strait of Hormuz is open and any civilian vessel can pass with guidance from the Iranian authorities, UK's ITV reported.* The personal consumption expenditures price index rose by 0.4%, and as expected, the year-over-year rate remained at 2.8%. The core PCE price index increased by 0.4%, as expected, and the same as in January.* US economic growth, measured by gross domestic product, was revised lower to a 0.5% increase in Q4 from a 0.7% gain in the second estimate, compared with estimates for no revision in a survey compiled by Bloomberg.* US initial jobless claims rose to 219,000 in the week ended April 4 from an upwardly revised 203,000 in the previous week, compared with expectations for 210,000 in a Bloomberg-compiled poll.* May West Texas Intermediate crude oil rose $4.77 to settle at $99.18 per barrel, while June Brent crude, the global benchmark, was last seen up $2.44 at $97.19.* Brown-Forman (BF.A, BF.B) was approached by Sazerac about a potential transaction amid ongoing talks with French spirits company Pernod Ricard, The Wall Street Journal reported. Brown-Forman Class A and Class B shares were up roughly 11% and 13%, respectively.* Zscaler (ZS) shares were down nearly 11% in after BTIG Research downgraded the stock to neutral from buy.

Equitable Holdings Insider Sold Shares Worth $400,381, According to a Recent SEC Filing

Nick Lane, President of Equitable Financial, on April 08, 2026, sold 10,000 shares in Equitable Holdings (EQH) for $400,381. Following the Form 4 filing with the SEC, Lane has control over a total of 124,218 common shares of the company, with 124,218 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1333986/000162828026024461/xslF345X05/wk-form4_1775765475.xml

Equinix Insider Sold Shares Worth $432,480, According to a Recent SEC Filing

Brandi Galvin Morandi, Chief People Officer, on April 08, 2026, sold 424 shares in Equinix (EQIX) for $432,480. Following the Form 4 filing with the SEC, Morandi has control over a total of 9,970 common shares of the company, with 9,970 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1101239/000110123926000076/xslF345X05/form4.xml

Arteris Insider Sold Shares Worth $1,332,786, According to a Recent SEC Filing

K Charles Janac, 10% Owner, Director, President, and CEO, on April 08, 2026, sold 70,000 shares in Arteris (AIP) for $1,332,786. Following the Form 4 filing with the SEC, Janac has control over a total of 9,372,052 common shares of the company, with 196,729 shares held directly and 9,175,323 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1667011/000106898726000011/xslF345X05/primarydocument.xml

Equitable Holdings Insider Sold Shares Worth $574,840, According to a Recent SEC Filing

Jeffrey J Hurd, Chief Operating Officer, on April 08, 2026, sold 14,358 shares in Equitable Holdings (EQH) for $574,840. Following the Form 4 filing with the SEC, Hurd has control over a total of 89,403 common shares of the company, with 89,403 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1333986/000162828026024463/xslF345X05/wk-form4_1775765542.xml