Aptose Biosciences Announces Results of Special Shareholders Meeting; Announces Receipt of Final Court Approval of Plan of Arrangement; Reports Year End 20
Aptose Biosciences Announces Results of Special Shareholders Meeting; Announces Receipt of Final Court Approval of Plan of Arrangement; Reports Year End 20
Microsoft, Nvidia, and other Magnificent Seven stocks are cheaper relative to the S&P 500, but investors remain uncertain about the durability of the AI trade.
Microsoft, Nvidia, and other Magnificent Seven stocks are cheaper relative to the S&P 500, but investors remain uncertain about the durability of the AI trade.
RFA Financial ( RFA:CA ) on Tuesday said that the Toronto Stock Exchange approved its normal course issuer bid to repurchase shares. The company can buy back up to 2.33 million common shares, representing 5% of its outstanding common shares, as well as 277,810 Series E preferred shares and 413,705 Series I preferred shares, each representing 10% of their respective public floats. The buyback progr...
RFA Financial ( RFA:CA ) on Tuesday said that the Toronto Stock Exchange approved its normal course issuer bid to repurchase shares. The company can buy back up to 2.33 million common shares, representing 5% of its outstanding common shares, as well as 277,810 Series E preferred shares and 413,705 Series I preferred shares, each representing 10% of their respective public floats. The buyback program is set to begin on April 6, 2026, and run until April 5, 2027, or earlier if purchases are completed. Purchases will be made through the exchange or alternative Canadian trading systems at prevailing market prices, subject to daily limits set by the exchange. RFA said it is pursuing the buyback as it believes its shares may not fully reflect the company’s underlying value and future prospects. ARESF +10.28% after hours to $16.3683. Source: Press Release More on Artis Real Estate Investment Trust PFD SER E, RFA Financial Inc. Financial information for Artis Real Estate Investment Trust PFD SER E Financial information for RFA Financial Inc.
Welcome back to Canada Daily, the newsletter on business, economics and politics from Vancouver to Montreal and beyond. If this was forwarded to you, please sign up here . There was one sure way to make money in the Canadian stock market in the first quarter: buy energy companies . And there was one sure way to lose it: own tech. That’s how it goes for investors in the turbulent rapids of American...
Welcome back to Canada Daily, the newsletter on business, economics and politics from Vancouver to Montreal and beyond. If this was forwarded to you, please sign up here . There was one sure way to make money in the Canadian stock market in the first quarter: buy energy companies . And there was one sure way to lose it: own tech. That’s how it goes for investors in the turbulent rapids of American economic and foreign policy. The S&P/TSX Information Technology subindex has tumbled more than 22% this year, its worst quarter since the rate shock of 2022. The US-led revolution in artificial intelligence is eroding confidence in the business models of some old stalwarts. “If we’re to believe this consensus narrative that AI is such a transformative technology and a disruptive one, then it’s fair to ask who’s being disrupted,” Brian Madden, chief investment officer at First Avenue Investment Counsel, told us. “And so I think investor sights have been trained sharply on the software sector.” The TSX tech subgroup is little more than a software index, and the selling pressure was broad: Open Text was down 31% in the quarter, while Shopify and Constellation Software each dropped more than 25%, even after Tuesday’s monster rally. For Constellation — which made a lot of portfolio managers look smart by generating an 8,000%-plus return over 15 years — there’s the added complication of trying to replace a legend. Founder Mark Leonard, the company’s driving force, left his executive role last year for health reasons and isn’t staying on the board . Meanwhile, Canadian energy shares have extended their extraordinary run, rising 29%. That’s the seventh straight quarter in the green, the longest such winning streak since the 2003 to 2005 period, when China’s prodigious economic growth sparked a commodities supercycle. Energy stocks rose in the weeks after the US ousted Venezuelan President Nicolás Maduro and now war in the Middle East has forced analysts to put their start-of-year ...
Famed short seller Carson Block is placing bearish bets on some of the biggest corporate credit ETFs as a way to hedge the risk of economic malaise caused by AI. In a Bloomberg Television interview Tuesday, the Muddy Waters Capital founder doubled down on his view that credit spreads could widen as a result of artificial intelligence-led job losses. Block said his firm is placing bearish options b...
Famed short seller Carson Block is placing bearish bets on some of the biggest corporate credit ETFs as a way to hedge the risk of economic malaise caused by AI. In a Bloomberg Television interview Tuesday, the Muddy Waters Capital founder doubled down on his view that credit spreads could widen as a result of artificial intelligence-led job losses. Block said his firm is placing bearish options bets on funds including BlackRock’s high-yield and investment-grade corporate bond ETFs. His wager comes after the investor told a crowd of conference attendees earlier in March that he was setting up trades shorting credit spreads and betting on dislocations in ETFs with liquidity mismatches. Read More: Carson Block Goes From Sanguine to Skeptic on S&P 500 Due to AI “AI is going to change everything,” Block said Tuesday. “Within a lot of the leading-edge companies and technology, their best users of AI have been able to replace seven of their colleagues.” Some on Wall Street have been arguing tight credit spreads suggest investors are complacent and not fully pricing in a market shock, though some of the air has started to come out of the debt market as the conflict in the Middle East escalates. Block added that markets will price in AI-related job losses before the displacement actually occurs. It’s a pivot from where the short seller stood just a few months ago, where he was sanguine on the economy and said he’s rather be long than short the US equity market. “I do think this will be kind of global financial crisis-type fallout in the markets ultimately,” he said.