Winnipeg Free Press

Winnipeg Free Press (Newspaper) - April 2, 2024, Winnipeg, Manitoba B6 ● WINNIPEGFREEPRESS.COM BUSINESS I STOCKS TUESDAY, APRIL 2, 2024 JOHN MINCHILLO / THE ASSOCIATED PRESS FILES The Truth Social account for former U.S. president Donald Trump seen last month on a mobile device. Trump Media stock falls after company discloses US$58-M loss for 2023 N EW YORK — Less than a week after a flashy stock market debut, Donald Trump’s social media company on Monday disclosed that it lost nearly US$58.2 million last year, sending its stock tumbling more than 21 per cent. Losses in 2023 for Trump Media & Technology Group — whose flagship product is Truth Social — mark a stark decline compared with the profit of US$50.5 million the former U.S. presi- dent’s company reported for 2022, ac- cording to a company filing with secur- ities regulators. Revenue for Trump Media came in at US$4.1 million in 2023, the SEC filing shows, although that’s up from US$1.5 million in 2022. After merging with a blank-cheque company called Digital World Acquisi- tion Corp., Trump Media began trading March 26 on the Nasdaq stock market under ticker symbol DJT. And it’s been a volatile ride. Trump Media’s shares soared in their first couple days of trading — surpass- ing US$79 at one point — but have since fallen closer to their initial offering price of US$49.95. The company’s stock closed at US$48.66 after Monday’s sell- off, meaning a lot of early investors are taking a hit. Industry analysts have compared the fervour around Florida-based Trump Media to the meme stock craze, which notably boosted shares of struggling companies such as GameStop and the movie chain AMC Entertainment to ex- orbitant heights in 2021. On Monday, shares for these so- called meme stocks slid as well, with GameStop and AMC down more than four per cent and 15 per cent, respect- fully, at market close. And Reddit, an- other company that recently went pub- lic and has since been looped into meme stock frenzy comparisons, slumped nearly seven per cent. Trump’s social media site had been seen as a potential financial lifeline for the presumptive Republican presiden- tial nominee as he faces an unpreced- ented onslaught of legal and financial challenges. In addition to four criminal cases — which each come with their own expen- sive lawyers — Trump faces a US$454 million-plus civil fraud penalty after a New York state judge ruled he and others at his company had schemed for years to dupe banks, insurers and others by inflating his wealth on finan- cial statements. Trump Media’s move into the public market could also net the former presi- dent billions on paper — although there hasn’t been an immediate payout yet. In Monday’s filing, the company did not announce any changes to the pro- vision that prevents insiders such as Trump from selling their shares for six months following its stock market debut. Still, some experts have specu- lated the board might waive the provi- sion for Trump and allow him to sell shares to help cover his legal bills. — The Associated Press WYATTE GRANTHAM-PHILIPS UPS to become primary air cargo provider for USPS NEW YORK — UPS will become the primary air cargo provider for the United States Postal Service. The Atlanta shipping company said Monday it had received an air cargo contract from the U.S. Postal Service that significantly expands an existing partnership between the two. UPS will move the majority of air cargo in the U.S. for the postal service following a transition period, according to UPS. Financial terms of the deal were not disclosed. USPS’s current air cargo contract with FedEx Corp. is set to expire in late September. The agency said in a state- ment its contract with UPS will be for a minimum of 5 ½ years. FedEx said in a regulatory filing it wasn’t able to reach an agreement on mutually beneficial terms to extend its contract with USPS. The company said that negotiations ended Friday, after extensive talks. FedEx Express will continue to pro- vide air transportation services domes- tically and to Puerto Rico until the con- tract expires Sept. 29. UPS’s contract with USPS takes effect the next day. During FedEx’s third-quarter con- ference call March 21, chief customer officer Brie Carere said the company had provided its services to USPS for more than two decades and the two sides were still in negotiations. USPS announced a four-year exten- sion of its air cargo network contract with FedEx in 2020. The mail and deliv- ery service said the contract provided for domestic air transportation for U.S. Mail, Priority Mail and Priority Mail Express. In recent years USPS has focused increasingly on lowering costs, and avenue is through transitioning from air freight to ground transportation. In February, USPS postmaster gener- al Louis DeJoy said USPS is looking to reduce its overall transportation costs by US$3 billion over the next two years, which includes US$1 billion cost sav- ings already achieved in airfreight. — The Associated Press MICHELLE CHAPMAN Ballard signs large order with Solaris VANCOUVER — Shares of Ballard Power Systems were up more than 10 per cent after it announced a long-term supply agreement with European bus manufacturer Solaris Bus & Coach it called its largest order ever for fuel cell engines. The deal consolidates existing or- ders for about 300 fuel cell engines, while adding aftermarket and extended warranty services, along with a new commitment for about an additional 700 fuel cell engines and related after- market extended warranty services. Financial terms of the agreement were not immediately available. The deal includes engines for both 12- and 18-metre buses. They are expected to be used in buses across Europe where Solaris buses powered by Ballard fuel cell engines operate in over 22 cities. Ballard said delivery is expected to start this year and run through the end of 2027. — The Canadian Press Delta 9 revenue, profit rise DELTA 9 Cannabis continues to oper- ate a successful — and profitable — cannabis company, despite the fact the markets continue to ignore its efforts. The Winnipeg-based company closed out 2023 with a 12 per cent increase in revenue to $71.1 million and operating profit (or adjusted earnings before in- terest, tax, depreciation and amortiza- tion) of $3.4 million, compared to a loss of $5.2 million last year. At the beginning of last year, the company cut back production by 40 per cent because of an oversupply in the market and is ramping back up with sizable wholesale sales opportunities after some of the larger players in the Canadian market shuttered production. Despite its positive bottom-line re- sults — at one point, it held the distinc- tion of being the most profitable canna- bis company in the country — its share price lost a half-cent Monday to close at 4.5 cents per share. — Free Press staff Agnico Eagle Mines L 83.22 2.45 2,263 82.90 59.36 Alamos Gold Inc. 19.70 -0.27 748 20.20 14.80 AltaGas Ltd. 29.71 -0.21 575 29.95 21.80 ARC Resources Ltd. 24.41 0.26 1,527 24.31 14.82 Bank of Montreal 132.50 0.25 1,139 132.68 102.67 Bank of Nova Scotia 68.35 -1.72 5,409 70.40 55.20 Barrick Gold Corpora 22.90 0.37 2,392 28.19 18.65 BCE Inc. 45.89 -0.14 2,343 65.66 45.40 BMO MSCI EAFE Index 22.62 -0.04 17 22.89 19.11 BMO S&P 500 Index ET 77.72 0.02 171 78.17 59.09 BMO S&P/TSX Capped C 29.66 0.02 60 29.85 25.04 Brookfield Infrastru 41.26 -1.04 330 50.36 29.12 Brookfield Renewable 31.33 -0.17 319 44.13 27.43 CAE Inc. 27.46 -0.51 215 33.87 24.75 Cameco Corporation 63.42 4.78 1,797 69.18 33.27 Canadian Apartment P 45.93 -0.56 295 54.60 40.52 Canadian Imperial Ba 68.32 -0.35 5,815 69.42 47.44 Canadian National Ra 178.51 0.14 1,082 181.34 143.13 Canadian Natural Res 104.69 1.36 6,230 103.61 69.83 Canadian Pacific Kan 119.30 -0.13 964 123.37 94.45 Canadian Tire Corpor 247.00 -1.00 1 327.00 243.87 Canadian Utilities L 30.37 -0.48 298 39.87 28.13 CCL Industries Inc. 70.43 0.13 0 74.00 53.01 CCL Industries Inc. 69.48 0.25 344 74.49 52.82 Cenovus Energy Inc. 27.30 0.22 2,845 29.18 19.82 CGI Inc. Class A Sub 149.18 -0.26 202 160.40 126.76 Colliers Internation 162.21 -3.36 18 176.51 115.00 Constellation Softwa 3664.97 -35.03 15 3856.00 2400.02 Descartes Systems Gr 126.13 2.23 68 127.91 95.03 Dollarama Inc. 102.25 -0.94 379 107.79 77.78 Element Fleet Manage 22.01 0.12 565 23.46 17.00 Emera Incorporated 47.32 -0.35 1,153 59.52 43.67 Empire Company Limit 33.01 -0.07 340 40.69 32.12 Enbridge Inc. 48.61 -0.34 4,687 54.05 42.75 Fairfax Financial Ho 1457.43 -2.67 34 1563.49 870.31 Fairfax Financial Ho 903.32 0.00 0 925.80 644.37 First Quantum Minera 14.55 -0.01 1,186 39.13 9.31 FirstService Corpora 223.75 -0.50 34 231.73 183.78 Fortis Inc. 53.39 -0.13 698 62.00 49.82 Franco-Nevada Corpor 164.29 2.89 352 217.70 139.19 George Weston Limite 183.13 0.83 88 187.93 144.41 Gildan Activewear In 50.35 0.08 317 52.80 36.42 Great-West Lifeco In 43.30 -0.02 2,491 45.18 34.57 Hydro One Limited 39.13 -0.37 1,056 41.69 32.79 IGM Financial Inc. 34.63 -0.30 129 42.02 30.34 Imperial Oil Limited 94.69 1.86 424 94.25 60.19 Intact Financial Cor 219.50 -0.54 161 237.25 188.22 iShares Core MSCI EA 37.35 -0.03 85 37.55 31.30 iShares Core S&P 500 55.01 -0.11 264 55.24 41.91 iShares Core S&P/TSX 35.35 0.04 435 35.54 29.75 iShares S&P/TSX 60 I 33.78 0.03 1,343 33.84 28.49 Ivanhoe Mines Ltd. 16.49 0.33 3,290 16.49 9.89 Keyera Corp. 35.29 0.40 596 35.08 28.77 Kinross Gold Corpora 8.36 0.05 3,591 8.39 5.91 Loblaw Companies Lim 150.52 0.42 165 154.70 110.52 Lundin Mining Corpor 14.16 0.30 2,163 13.97 8.10 Magna International 72.38 -1.41 413 87.00 64.41 Manulife Financial C 33.38 -0.45 4,740 34.05 23.69 MEG Energy Corp. 31.48 0.38 942 31.44 19.41 Metro Inc. 72.61 -0.11 237 78.88 65.43 Molson Coors Canada 91.24 -1.26 1 93.00 68.68 Molson Coors Canada 91.35 0.35 0 93.39 68.35 National Bank of Can 113.64 -0.42 1,692 115.14 84.27 Newmont Corporation 49.48 0.92 237 70.88 39.96 ONEX Corporation Sub 100.96 -0.51 46 107.28 58.71 Open Text Corporatio 52.12 -0.44 247 60.00 44.34 Ovintiv Inc. 70.71 0.43 178 70.61 43.23 Pan American Silver 20.70 0.28 1,086 26.54 16.50 Parkland Corporation 42.29 -0.85 296 47.99 30.29 Pembina Pipeline Cor 48.11 0.30 2,157 48.69 38.79 Power Corporation of 37.88 -0.10 6,231 40.30 32.33 RB Global Inc. 104.09 0.92 53 105.42 68.80 Restaurant Brands In 107.12 0.00 0 109.74 83.79 Restaurant Brands In 106.49 -1.08 311 112.12 84.73 Rogers Communication 56.30 -0.40 2 68.25 50.50 Rogers Communication 55.28 -0.22 1,961 67.67 50.15 Royal Bank of Canada 136.08 -0.54 2,468 137.21 107.92 Saputo Inc. 26.48 -0.17 233 36.70 25.57 Shopify Inc. Class A 106.15 1.65 1,508 123.20 58.76 SNC-Lavalin Group In 55.25 -0.15 165 57.38 31.04 Sprott Physical Gold 23.74 0.31 36 23.45 19.15 Stantec Inc. 111.59 -0.87 215 118.39 75.59 Sun Life Financial I 73.25 -0.66 1,862 74.94 61.75 Suncor Energy Inc. 50.64 0.65 5,287 50.11 37.09 TC Energy Corporatio 54.65 0.21 8,545 57.02 43.70 Teck Resources Limit 62.55 0.33 8 106.80 44.46 Teck Resources Limit 62.76 0.76 993 66.04 47.47 TELUS Corporation 21.59 0.30 4,096 28.95 21.16 TFI International In 215.75 -0.25 119 219.67 137.36 Thomson Reuters Corp 210.72 -0.08 114 217.83 163.01 TMX Group Limited 36.14 0.41 285 36.93 26.58 Toromont Industries 130.42 0.07 79 131.67 100.81 Toronto-Dominion Ban 81.76 0.01 12,387 87.10 75.89 Tourmaline Oil Corp. 63.96 0.63 762 74.21 53.45 Vanguard S&P 500 Ind 126.21 0.08 203 126.62 95.38 Vanguard U.S. Total 95.62 -0.10 39 96.00 72.72 Waste Connections In 231.25 -1.62 114 234.79 174.74 West Fraser Timber C 117.16 0.20 197 121.64 88.61 Wheaton Precious Met 64.86 1.06 434 71.39 52.15 WSP Global Inc. 224.29 -1.47 184 230.98 164.32 VOLUME 52-WK 52-WK STOCK CLOSE CHG (000S) HIGH LOW (by market capitalization) TSX Top 100 MARK E T WAT CH Daily Mutual Movers Biggest gainers and losers base on percentage change in daily net asset value per share. Data supplied by Fundata. All Funds COMPANY CLOSE CHG TD China Inc Grw Inv 21.55 2.23 Pender Alt Sp Sit Fd Cl A 22.26 1.95 Friedberg GblMacHdgFd U$ 5.83 1.90 Scot Resource Fund A 38.44 1.77 Mac ChAMC All Ch Eq A 10.07 1.74 Mack Gld Bll Fd A 18.37 1.53 RBC China Equity Fd Ser A 7.55 1.52 RBC Cdn S & M-Cp Res Fd A 11.81 1.49 RBC Gbl Prec Mtls Fd A 51.66 1.41 TD Precious Metals Fd Inv 50.19 1.35 RBC Gbl Energy Fd A 57.19 1.00 Mac Glb Prec Mtl Fund A 15.60 1.00 Desj Emer Mkts Opp Fd A 8.15 0.94 Canadian Equity COMPANY CLOSE CHG Veritas Canadian Equity F 14.27 0.45 Mack Max Dv Can I FdA 14.78 0.28 IPC Canadian Equ O 11.34 0.21 IG FI Cdn Equity Fd C 27.04 0.18 NCM Core Cdn Ser A 34.00 0.15 Inv Pure Cdn Equ Fd A 27.14 0.14 Inv Pure Cdn Equ Cl A 22.74 0.14 CL Cdn FdmntlEquA 13.29 0.13 EdgPt Canadian Port A 48.14 0.13 Scot Cdn Equity Ind Fd A 40.35 0.13 RBC Cdn Equity Fd A 27.77 0.12 RBC Cdn Index Fd DZ 41.75 0.12 TD Cdn Index Fund Inv 34.83 0.11 Canadian Fixed Inc.ome COMPANY CLOSE CHG EdgePoint Mthly Inc Pt A 9.33 -0.41 Scot Cdn Inc Fd A 12.08 -0.46 RBC Mthly Inc Bond Fd A 8.77 -0.54 Scot WthS-MGovtBondPool I 9.48 -0.54 Scot Wth Income Pool Pin 9.98 -0.63 MD Fos Fuel Fre Bond Fd A 8.81 -0.68 MD Bond Fund Series A 6.79 -0.73 Scotia Wealth Cdn Bd I 9.94 -0.73 Inv ESG Can Co + Bd ETF A 8.11 -0.77 RBC Cdn Govt Bond Idx DZ 10.51 -0.77 Scot Canadian Bond Fund A 9.09 -0.79 TD Cdn Core + Bond Fd Inv 10.21 -0.87 IAC Inh Bond SRI Fd B 8.88 -0.88 Global Equity COMPANY CLOSE CHG Canadian Dollar 39,566.85 16,396.83 DOW NASDAQ S&P 500 S&P/TSX -240.52 +17.37 -10.58 +18.22 5,243.77 22,185.25 +0.54 +0.074 OIL GAS GOLD SILVER US$83.71 US$1.837 US$2,257.10 US$25.21 +18.70 +0.14 DOLLAR 73.67 ¢ -0.13 21,300 21,750 20,850 22,200 20,400 DAILY CLOSE, PAST 30 DAYS February March I Manitoba Stocks Ag Growth Int’l Inc. 63.40 2.04 44,349 Artis REIT 6.37 -0.02 82,686 BCE Inc. 45.89 -0.14 2,342,642 Bird River Resources Inc. 0.05 0 - Boyd Group Services Inc. 284.10 -2.3 26,283 Buhler Industries Inc. 2.30 0 - Delta 9 Cannabis Inc. 0.05 -0.005 2,204,220 Exchange Income Corp. 49.37 -0.14 41,637 FP Newspapers Inc. 0.53 0 - Gossan Resources Ltd. 0.03 -0.005 44,000 Great West Lifeco Inc. 43.30 -0.02 2,490,524 Hudbay Minerals Inc. 9.46 -0.02 738,338 IGM Financial Inc. 34.63 -0.3 129,060 Kane Biotech Inc. 0.12 0.015 201,171 Medicure Inc. 1.15 0 - NFI Group Inc. 12.96 0.09 46,264 North West Co. Inc. New 38.75 -0.5 26,700 Pollard Banknote Ltd. 35.93 0.17 2,905 Winpak Ltd. 40.29 -0.25 27,433 Marwest Apartment REIT 0.85 -0.05 500 COMPANY CLSE CHG VOL COMPANY CLSE CHG VOL Futures Trading — Grain quotes CANOLA COMPANY OPEN HIGH LOW CLOSE WEDNESDAY May ‘24 629.20 636.60 625.40 634.20 626.40 Jul 637.10 645.10 635.10 642.80 636.10 Nov 645.30 652.70 644.60 650.80 645.10 Jan ‘25 652.00 659.20 651.80 657.40 652.20 Mar - 659.90 - 659.90 654.60 May - 658.00 - 658.00 652.80 Jul - 656.80 - 656.80 646.90 Nov - 627.70 - 627.70 617.80 Jan ‘26 - 619.00 - 619.00 609.20 Mar - 619.40 - 619.40 609.60 May - 619.30 - 619.30 609.50 CLOSES ARE AS OF THURSDAY, MARCH 28 AS MARKETS CLOSED FOR GOOD FRIDAY SOURCES: THE BANK OF CANADA, FUNDATA, ICE FUTURES CANADA, CME GROUP S&P/TSX Composite Index Foreign Exchange Rates These are indicative wholesale rates for foreign currency provided by the Bank of Canada on Monday. Quotations in Canadian funds. Australian dollar 0.8813 Brazilian real 0.2686 Chinese renminbi 0.1877 European euro 1.4592 Hong Kong dollar 0.1735 Indian rupee 0.01628 Indonesian rupiah 0.000085 Japanese yen 0.00895 Mexican peso 0.08167 New Zealand dollar 0.8079 Norwegian krone 0.124 Peruvian new sol 0.3642 Russian ruble 0.0147 Saudi riyal 0.3619 Singapore dollar 1.004 South African rand 0.07164 South Korean won 0.001003 Swedish krona 0.1258 Swiss franc 1.501 Taiwanese dollar 0.04238 Turkish lira 0.0423 UK pound sterling 1.7055 US dollar 1.3574 A U.S. dollar cost $1.3574 based on daily average GQG PartnersGloQualityEqA 15.18 0.72 Global Iman Fund Series A 39.49 0.66 Invesco Global Sel Equ A 37.83 0.61 Inv GblSelEqu Cl A 25.79 0.60 BMO Glo Innov FdA 15.32 0.46 Barometer Glo Equ Cl A 17.76 0.44 TD Gbl Ent & Com Fd Inv 144.60 0.41 Mac FP Sh Glo Eq PA 12.42 0.32 NEI Glo Value Fd A 15.26 0.29 RBC Gbl Equ Fd A 23.00 0.27 RBC Vision Gbl Equ Fd A 21.68 0.26 RBC VisFossFuelFreeGloEqA 18.18 0.24 PH&N Global Equity Fund D 32.34 0.23 These companies will have headquarters or major operations in Manitoba. Closing values are as of the end of trading. Provided by Wellington-Altus Private Wealth. ;