Market promoters: actions that see action on Monday, and why

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A rundown of some of the North American actions they make in both directions today

Increasing

Shares of WestJet Airlines Ltd. (WJA-T) rose 61.5% in the early trading phases following the announcement on Monday Onex Corp. (ONEX-T) is buying the airline in a deal worth $ 5 billion, including the debt.

According to the agreement, Onex will pay $ 31 per share for WestJet, which will continue to operate as a privately held company. WestJet shares closed Friday at $ 18.52.

The story continues under the publicity

Onex, based in Toronto, will transform the airline into a private company and retain its headquarters in Calgary, according to the press release.

"WestJet is one of Canada's strongest brands and we have enormous respect for the business that Clive Beddoe and all WestJetters have built over the years. WestJet is internationally renowned for its unparalleled guest experience and employee culture" said Tawfiq Popatia, managing director of Onex.

Onex Corp. was 0.4 percent in morning trading.

In reaction to agreement, shares of Air Canada (AC-T) e Transat A.T. Inc. (TRZ-T) increased by 4.9% and 1.4% respectively.

Eldorado Gold Corp. (ELD-T) rose 4.3 percent after announcing the intention to offer up to $ 300 million of aggregate nominal amount of senior guaranteed second latency notes maturing in 2024.

"The interest rate and other terms of the notes will be determined based on prevailing market conditions," the company said.

Eldorado stated that it intends to use the net proceeds, along with the proceeds of the term loan incurred in a new senior secured credit facility, which it announced on Monday, to redeem the 600 million senior securities. US dollars due in December 2020 and to pay fees and expenses in connection with the financing.

HIVE Blockchain Technologies Ltd. (HIVE-X) rose 9.1 percent after announcing on Monday that the bell had entered into a "non-binding letter of intent and terms of end and a stock exchange agreement" with Argo Blockchain PLC listed on London "to explore a has proposed a strategic partnership to create the largest business-to-business mining service provider in the world aimed at large corporate and institutional customers".

"The proposed strategic partnership will allow all miners to benefit from the combination of the two groups' existing mining capacity, including part of the equivalent HIVE mining capacity of 45 megawatts (" MW ") and Argo's 10.5 MW capacity and presents a significant service opportunities for strategic institutional clients who require Mining-as-a-Service (MaaS) infrastructure to extract virgin currencies from safe jurisdictions such as North America and Europe, "the companies said.

Declining

The Apple company. The shares (AAPL-Q) decreased by 5.3% after the On Monday, the Supreme Court gave the go-ahead to a lawsuit from consumers who accuse the technology giant of monopolizing the iPhone software application market and forcing them to overpay, rejecting the company's offer to evade to the claims that his practices violate the federal antitrust law.

The judges, in a sentence 5-4, confirmed the lower court's decision to allow the proposed collective action to proceed. The plaintiffs said that the California-based technology company had requested that the apps be sold through its App Store and earned an excessive 30 percent commission on purchases.

Brands International Inc. Restaurant (QSR-T) fell by 2.3 percent after a Longbow Research analyst downsized his actions, citing "a significant level of discord between corporate and franchisee linked to (recently) a more aggressive discount strategy in a context higher labor and input costs. "

Shopify Inc. (SHOP-T) fell 3% after an equity analyst at Guggenheim Securities downgraded its shares, expressing concern about its valuation following a recent jump in share prices.

The story continues under the publicity

"We believe that bullish investors have already incorporated a revenue result for fiscal year 19 and year 20, consistent with historical consensus beats," said Ken Wong. "The valuation multiple has exceeded previous peak levels (~ 16x NTM EV / sales vs. 14x), we believe it limits the appreciation of the shares resulting from results that significantly exceed street estimates".

Premium Brands Holdings Corp. (PBH-T) was down 5% after reporting weaker than expected first quarter results before the bell.

"Adjusted EBITDA of 52 million US dollars (excluding the impact of IFRS 16 of 8 million Canadian dollars) was lower than the estimate of 55 million US dollars (consensus of 57 million dollars ) "said Desjardins Securities analyst David Newman. "The EBITDA margin of 6.7% was lower than our forecast of 6.9% due to: (1) weaker organic growth from a shift in Easter times to 2nd quarter 19, colder weather conditions, reduction in food sales in western Canada, low seasonality associated with recently acquired companies and the lapping of a strong 1Q18; (2) the impact of Chinese tariffs on Ready Seafood in PFD, and, to a lesser extent, (3) greater transport rates and labor costs and greater investments.

"While PBH maintained its C $ 3.66-3.72b guidance for 2019, it reduced the reference EBITDA range to C $ 300-340 million from C $ 320-340 million due to uncertainty about the explosion of African swine fever (ASF) in China, which led to an increase in pork prices in North America. Management has stated that it is taking a "conservative approach" to estimate the ASF impact due to the delay associated with price increases to compensate for the increase in raw material costs (potentially higher input costs for products substitutes, eg chicken and beef). "

Pinterest Inc. (PIN-N) fell 6.4% after a group of equity analysts of banks who subscribed the IPO coverage of their stock after a period of restrictions.

"We believe that the company can support a two-digit percentage of MAUs (monthly active users) and a growth of ARPUs up to 2021. Having said that, PINS shares exchange 50% above the IPO price and 16 times EV / Sales on our 19 turnover estimates, we consider them reasonably valued, "said Mark Mahaney of RBC Dominion Securities.

The story continues under the publicity

Shares of Uber Technologies Inc. (UBER-N) continued to fall on Monday, sitting 7.3 percent. On Friday, the company participated in the stock market fell 7.6% on its first day of trading as a public company on Facebook Inc. on Friday.

See also: Party like it & # 39; s 1999: Just like the days of dot-com, unprofitable companies are leading the IPO market

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With personal files and wires

. (tagToTranslate) Onex (t) Westjet (t) shares (t) Apple (t) Restaurants Brands (t) investing (t) news (t) Uber

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