Stock Market News for Investors: Canopy Growth to Acquire MTL Cannabis in $125 Million Deal – MoneySense

Canopy Growth CEO Luc Mongeau says MTL’s growing expertise, combined with his company’s scale, positions the company to improve product quality, expand offerings and accelerate the path to profitable growth.

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

The deal requires approval from regulators and MTL shareholders. The transaction is expected to close before the end of February.

BlackBerry reports a third-quarter profit of $13.7 million, compared with a loss a year ago

BlackBerry Ltd. reported a third-quarter profit of $13.7 million, compared with a loss of $10.5 million in the same period a year earlier. The Waterloo-based software company, which keeps its books in U.S. dollars, said Thursday that earnings per share were two cents, flat from last year’s quarter.

BlackBerry said revenue for the period ended Nov. 30 was $141.8 million, compared with $143.6 million in the third quarter of last year.

BlackBerry CEO John Giamatteo said in a press release that the company’s QNX segment has achieved record revenue. QNX segment revenue was $68.7 million, up 10 percent from $62.3 million a year earlier.

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

Transat AT reports a loss of $12.5 million in the fourth quarter, compared to a profit of $41.2 million a year ago

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

Transat’s fourth-quarter revenue totaled $771.6 million, compared to $788.8 million a year ago, as Transat benefited from compensation related to problems with the Pratt & Whitney GTF engine. Excluding the impact of this lower compensation, Transat says revenue increased 1.5 percent compared to a year ago.

On an adjusted basis, Transat says it lost 42 cents per share in the latest quarter, compared with an adjusted profit of 81 cents per share in the same quarter last year.

Last week, Transat narrowly avoided a costly work stoppage when it signed a new preliminary contract with its pilots.

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