Hydro One Ltd. (H)
Investors have been sending a jolt through the price of Ontario’s largest electricity distributor this past week. The price rise comes just days before a March 16 deadline to become a shareholder of record in order to qualify for Ontario Hydro’s next quarterly dividend. The 25 cent dividend gets paid March 31. The company could also be getting a boost because of optimism the COVID-19 pandemic is winding down; in its most recent quarter, Ontario Hydro reported earnings had dropped as customers struggled to pay their bills.
Intact Financial Corp. (IFC)
Intact’s $ 12.3-billion purchase of U.K.-based property insurance company RSA still hasn’t closed, but company executives have already said they’re looking at more deals. Speculation is growing they could be after the Canadian operations of U.K. giant Aviva. Intact formed a consortium with a Danish insurer to buy RSA, a deal announced in November. Intact CFO Louis Marcotte recently told an investors’ conference that Intact wouldn’t be taking on any new deals until after the close of the RSA purchase, which is expected to come this quarter.
Linamar Corp. (LNR)
Recession? What recession? The Guelph-based auto-parts manufacturer continued its string of eye-popping quarterly earnings this past week. The company announced fourth-quarter profits had more than doubled to $ 113.1 million, up from $ 49.7 million a year earlier. Revenue also rose, jumping to $ 1.7 billion from $ 1.6 billion a year ago. Linamar said in its earnings press release that its results got a boost from government support programs for the COVID pandemic.
AcuityAds Holdings Inc. (AT)
Investors can be a tough bunch to impress sometimes. Acuity announced March 2 that fourth-quarter profits had more than doubled, to $ 4.2 million (from $ 2 million a year ago). They’ve been on a steady downward slide ever since. After trading as high as $ 29.74 per share in the days before earnings were announced, they’ve now slid well below $ 20.
CAE Inc. (CAE)
CAE has a seemingly ravenous appetite for takeover deals, but it just might be giving investors a bit of indigestion. The Montreal-based flight simulator specialist announced a $ 1.05 (U.S.) deal with L3 Harris Technologies March 1 to take over the U.S. firm’s military training business. The purchase, which includes Link Simulation & Training, Doss Aviation and AMI, was CAE’s fourth M+A deal in the last four months. Organic, schmorganic.
Tucows Inc. (TC)
While the Toronto company has branched out to providing mobile and fibre-optic internet, it’s best known for being one of the world’s biggest providers of domain registration. And it’s suddenly, according to some measures, been leapfrogged for the No. 2 spot behind GoDaddy. Late last year, Endurance International Group took over Web.com to create a new registration heavyweight called Newfold Digital. While Tucows still says it’s No. 2, a recent report by DomainNamewire.com said Newfold has 14,595,094 domains under management, compared to Tucows’ 12,988,434.