Winnipeg Free Press

Winnipeg Free Press (Newspaper) - May 7, 2025, Winnipeg, Manitoba B6 ● WINNIPEGFREEPRESS.COM BUSINESS I STOCKS WEDNESDAY, MAY 7, 2025 Brookfield Asset Management Q1 earnings up TORONTO — Brookfield Asset Manage- ment Ltd. reported its first-quarter profit rose compared with a year ago. The alternative asset manager, which keeps its books in U.S. dollars, says net income attributable to the company to- talled US$581 million or 36 cents US per diluted share for the quarter end- ed March 31. The result was up from US$441 million or 28 cents US per di- luted share a year earlier. Revenue for the quarter totalled US$1.08 billion, up from US$884 mil- lion in the same quarter last year. BAM says distributable earnings for the quarter amounted to US$654 million or 40 cents US per share, up from US$547 million or 34 cents US per share a year earlier. BAM president Connor Teskey says the business continues to benefit from deep exposure to the world’s invest- ment megatrends of artificial intelli- gence, energy transition and growth in private credit. — The Canadian Press Bell unveils tech services unit Ateko MONTREAL — BCE Inc. is launching a new tech services brand called Ateko which unifies recently acquired tech companies FX Innovation, HGC Tech- nologies and CloudKettle under a single umbrella. The company says Ateko’s combined operations will serve clients across sev- eral sectors, including telecommunica- tions, media, technology, public sector, utilities and finance. Bell Canada president and CEO Mirko Bibic says Ateko will be able to help businesses streamline operations, cut costs and boost productivity using artificial intelligence. In recent years, Bibic has empha- sized Bell’s intent to transition from a telecommunications giant to a tech ser- vices and digital media company. — The Canadian Press Pet Valu reports profit, revenue rise MARKHAM, Ont. — Pet Valu Holdings Ltd. reported its first-quarter profit and revenue rose compared with a year ago. The pet food retailer says it earned $21.8 million or 31 cents per diluted share for the 13-week period ended March 29, up from a profit of $17.5 mil- lion or 24 cents per diluted share a year earlier. On an adjusted basis, Pet Valu says it earned 36 cents per diluted share in its latest quarter, up from an adjusted profit of 35 cents per diluted share in the same quarter last year. Revenue for the quarter totalled $279.1 million, up from $260.8 million a year ago. The company says same-store sales growth for the quarter was 1.4 per cent. In its outlook for 2025, Pet Valu says it expects revenue between $1.17 billion and $1.20 billion for its full year. — The Canadian Press George Weston Q1 profit down, boosts quarterly dividend TORONTO — George Weston Ltd. raised its quarterly dividend as it reported its first-quarter profit fell compared with a year ago, weighed down by a fair value adjustment as a result of an increase of Choice Properties Real Estate Invest- ment Trust’s unit price in the quarter. The company, which is the control- ling unitholder of Choice Properties and the controlling shareholder of Loblaw Cos. Ltd., says it will now pay a quarterly dividend of 89.38 cents per share, up from 82 cents. The increased payment to share- holders came as George Weston says it earned a profit attributable to common shareholders of $83 million or 62 cents per diluted share for the quarter ended March 22. The result compared with a profit of $236 million or $1.73 per dilut- ed share in the same quarter last year. On an adjusted basis, George Weston says it earned $2.58 per diluted share in its latest quarter, up from an adjusted profit of $2.30 per diluted share a year earlier. — The Canadian Press DoorDash to acquire U.K. rival Deliveroo for US$3.9B L ONDON — DoorDash, the ubiqui- tous U.S. food delivery app, has agreed to acquire British rival De- liveroo for £2.9 billion (US$3.9 billion) in cash, expanding its business in Eur- ope, Asia and the Middle East. San Francisco-based DoorDash will pay 180 pence (US$2.40) for each Deliv- eroo share, 29 per cent more than the closing price on April 24, the day before the offer was announced, the compan- ies said in a joint statement before the London Stock Exchange opened for trading Tuesday. The deal is DoorDash’s second ma- jor international acquisition in three years as the company expands from its traditional base in the U.S., Canada and Australia. After the purchase of Deliveroo, and the 2022 acquisition of Helsinki-based Wolt Enterprises, Door- Dash will operate in more than 40 mar- kets worldwide. “I could not be more excited by the prospect of what DoorDash and Deliv- eroo will be able to accomplish togeth- er,” DoorDash CEO Tony Xu said in the statement. Both companies were founded in 2013, using the then emerging technol- ogy of smartphones to link restaurants and their customers to a network of de- livery riders. Deliveroo now operates in nine coun- tries, including the U.K. and Ireland, which accounted for 59 per cent of its business in 2023. It also does business in France, Italy, Belgium, Singapore, the United Arab Emirates, Kuwait and Qatar. The acquisition comes less than three months after technology investment company Prosus agreed to buy Amster- dam-based Just Eat Takeaway.com for €4.1 billion (US$4.29 billion), boosting its food delivery portfolio in Europe. — The Associated Press BEBETO MATTHEWS / THE ASSOCIATED PRESS FILES Food delivery workers’ bikes are left parked outside during pickups at fast-food restaurants on Brooklyn’s Flatbush Avenue in New York. Shareholders approve $15B Whitecap-Veren deal CALGARY — Whitecap Resources Inc. is on track to join forces with Veren Inc. next week after share- holders of both companies gave their blessing for the $15-billion deal. The companies did not immedi- ately provide breakdowns of how many votes were cast in favour of the transaction during separate virtual shareholder meetings that were each completed in about five minutes. The Calgary-based companies an- nounced a friendly deal in March that they say will create the seventh-lar- gest Canadian oil company by produc- tion. It will operate under the White- cap name and management team. Whitecap is to become the biggest landholder in the Montney and Du- vernay shale regions in Alberta and second-largest oil producer in Sas- katchewan. CEO Grant Fagerheim warned some staff will not be keeping their jobs in the new company. The com- panies are projecting more than $200 million in cost savings and efficien- cies once they come together. — The Canadian Press Agnico Eagle Mines L 164.11 6.22 1,614 175.33 86.66 Alamos Gold Inc. 37.54 2.06 1,288 42.97 20.65 AltaGas Ltd. 38.74 -0.25 1,411 40.98 29.67 ARC Resources Ltd. 25.95 0.45 2,351 29.90 21.44 AtkinsRéalis Group 71.21 0.63 360 83.94 48.12 Bank of Montreal 135.04 -0.04 2,489 151.08 109.02 Bank of Nova Scotia 68.91 -0.51 2,118 80.14 60.68 Barrick Gold Corpora 26.53 0.77 6,724 29.50 21.73 BCE Inc. 29.71 0.17 3,792 49.13 28.73 BMO MSCI EAFE Index 24.92 -0.10 24 25.78 21.74 BMO S&P 500 Index ET 84.44 -0.91 264 96.98 75.37 BMO S&P/TSX Capped C 33.45 0.02 43 34.67 28.87 Brookfield Infrastru 42.91 0.28 415 50.46 36.57 Brookfield Renewable 30.74 -0.08 159 40.84 27.50 CAE Inc. 35.01 -0.09 405 39.17 22.28 Cameco Corporation 66.29 2.18 1,210 88.18 48.71 Canadian Imperial Ba 87.73 -0.34 2,330 95.50 64.47 Canadian National Ra 135.60 -0.70 657 175.57 130.02 Canadian Natural Res 39.28 0.61 10,102 53.45 34.92 Canadian Pacific Kan 101.19 -0.97 1,313 119.20 94.60 Canadian Tire Corpor 228.00 0.00 0 255.00 192.10 Canadian Tire Corpor 152.25 0.20 283 169.27 131.31 CCL Industries Inc. 71.11 0.57 291 84.70 64.93 CCL Industries Inc. 72.40 0.00 0 83.99 66.28 Cenovus Energy Inc. 16.33 0.22 4,970 28.82 14.48 CGI Inc. Class A Sub 144.33 -0.98 337 175.35 132.06 Colliers Internation 163.22 -5.17 84 218.47 145.75 Constellation Softwa 4967.42 -26.99 25 5070.26 3605.00 Descartes Systems Gr 148.23 -0.48 104 177.98 121.84 Dollarama Inc. 171.67 0.69 438 174.75 116.65 Element Fleet Manage 31.01 0.11 358 31.41 22.19 Emera Incorporated 61.17 0.52 2,306 63.13 44.13 Empire Company Limit 51.50 0.43 327 51.72 31.60 Enbridge Inc. 63.57 -0.77 17,645 65.62 47.41 Fairfax Financial Ho 2194.96 6.07 239 2220.00 1425.00 Fairfax Financial Ho 1333.18 0.00 0 1470.00 893.44 First Quantum Minera 19.24 0.68 2,854 23.28 13.81 FirstService Corpora 238.07 -2.29 55 278.19 193.77 Fortis Inc. 67.53 0.21 1,930 68.65 52.19 Franco-Nevada Corpor 236.63 4.59 285 245.55 156.31 Galaxy Digital Holdi 25.90 -0.61 1,170 34.98 11.27 George Weston Limite 269.55 1.89 153 269.99 184.95 Gildan Activewear In 64.64 -1.33 296 79.11 44.26 Great-West Lifeco In 52.52 0.16 4,579 57.61 38.44 Hydro One Limited 52.91 0.48 792 53.41 38.24 IGM Financial Inc. 43.81 0.08 97 47.96 35.33 Imperial Oil Limited 94.29 0.85 787 108.89 82.98 Intact Financial Cor 309.25 2.43 257 308.01 218.58 iShares Core MSCI EA 41.14 -0.14 125 42.19 35.61 iShares Core S&P 500 57.99 -0.46 155 63.70 50.16 iShares Core S&P/TSX 39.90 0.02 227 41.31 34.41 iShares S&P/TSX 60 I 38.02 -0.07 2,168 39.55 32.39 Ivanhoe Mines Ltd. 13.76 -0.08 3,738 21.32 9.79 Keyera Corp. 42.52 0.11 1,064 47.90 34.38 Kinross Gold Corpora 21.00 0.96 3,845 21.36 9.13 Loblaw Companies Lim 226.87 -0.08 306 228.88 152.39 Lundin Gold Inc. 61.70 5.35 599 60.35 18.14 Lundin Mining Corpor 11.90 0.41 2,429 17.97 8.94 Magna International 45.74 -0.21 3,458 66.42 43.25 Manulife Financial C 43.09 -0.16 11,249 46.42 32.87 Metro Inc. 105.82 -0.08 747 106.46 72.18 Molson Coors Canada 89.00 0.00 0 99.93 62.92 Molson Coors Canada 77.87 -2.13 0 92.73 65.04 National Bank of Can 122.48 0.02 1,207 141.15 105.43 Newmont Corporation 75.17 1.96 200 81.16 53.03 Open Text Corporatio 36.76 -0.24 729 47.52 32.41 Ovintiv Inc. 47.70 0.17 167 72.55 42.35 Pan American Silver 34.49 1.47 975 39.70 24.96 Pembina Pipeline Cor 53.72 -0.11 3,611 60.72 48.35 Power Corporation of 51.54 -0.14 897 52.31 36.08 Quebecor Inc. Class 38.00 -0.05 0 38.50 27.99 Quebecor Inc. Class 37.83 0.26 866 38.26 27.84 RB Global Inc. 140.39 0.12 202 152.48 95.43 Restaurant Brands In 93.00 0.89 0 102.93 86.30 Restaurant Brands In 93.34 1.17 501 104.34 83.32 Rogers Communication 35.02 -0.08 1,341 56.55 32.42 Rogers Communication 39.69 -0.26 1 60.50 38.01 Royal Bank of Canada 165.45 -1.55 5,403 180.45 137.93 Saputo Inc. 25.74 -0.23 290 32.15 22.59 Shopify Inc. Class A 129.24 -6.61 1,992 183.53 72.36 Sprott Physical Gold 36.02 0.97 131 36.53 24.44 Sprott Physical Gold 26.12 0.74 2 26.38 17.79 Stantec Inc. 125.82 -0.76 238 129.39 103.48 Sun Life Financial I 82.42 -0.59 2,689 88.54 64.38 Suncor Energy Inc. 48.36 0.16 8,624 58.58 43.59 TC Energy Corporatio 69.61 -0.69 2,521 70.97 50.59 Teck Resources Limit 48.94 -1.06 0 74.15 40.49 Teck Resources Limit 48.33 0.14 1,287 74.37 40.23 TELUS Corporation 21.06 0.21 2,247 23.43 19.10 TFI International In 111.04 -1.94 244 219.57 102.57 Thomson Reuters Corp 256.31 -0.29 342 262.09 214.51 TMX Group Limited 55.16 0.33 605 56.49 35.65 Toromont Industries 110.33 1.56 166 134.88 107.32 Toronto-Dominion Ban 87.45 -0.73 8,169 88.55 73.22 Tourmaline Oil Corp. 61.57 1.06 2,486 70.83 55.27 Vanguard S&P 500 Ind 136.93 -1.47 230 157.38 121.61 Vanguard U.S. Total 102.88 -1.19 44 119.12 91.60 Waste Connections In 273.08 -0.31 215 284.73 219.62 Wheaton Precious Met 118.09 2.90 561 120.60 71.18 WSP Global Inc. 250.30 -0.11 174 264.87 201.24 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 Dyn Precious Metals Fd A 23.47 5.38 Ninepoint Silver Equ Fd A 8.17 5.06 CANL Prec Mtl Fd A 28.00 4.79 Dyn Strat Gold Cl A 32.70 4.65 NPT Gold&PrecMinFd A 81.78 4.40 RBC Gbl Prec Mtls Fd A 89.31 4.24 BMO Prec Metals Fd A 42.59 4.16 CIBC Precious Metals Fd A 25.07 4.00 TD Precious Metals Fd Inv 84.06 3.87 Ninepoint Resource Fund A 6.80 3.19 Portland Replace FF Alt A 14.05 2.80 Maple Leaf Resource Cl A 1.11 2.69 BMO Resource Fd A 57.03 2.63 Canadian Equity COMPANY CLOSE CHG Caldw Cdn Val Momntm Fd A 22.41 1.08 DFA Cdn Vector Equ Fd A 15.68 0.91 SEI Cdn Equity Fd O 25.54 0.70 Vis QUBE FFF LV Cdn Eq A 14.97 0.69 RBC O'Sh All-Cdn Eq Fd A 17.90 0.64 DFA Cdn Core Equity Fd A 29.44 0.63 NCM Core Cdn Ser A 41.51 0.58 BMO SIAFocCdnEquFd Adv 13.96 0.54 RBC QUBELVCdnEquFd A 18.60 0.53 RBC Trend Cdn Equ Fd A 11.03 0.43 BMO LowVoCdnEquETFFd A 15.08 0.37 Gdian Cdn Equity Fund I 229.57 0.34 TD Cdn Low Vol Fd Inv 9.04 0.33 Canadian Fixed Income COMPANY CLOSE CHG Fid Sys Cdn Bon Idx ETF B 8.90 0.22 BMO PrvtCdnBomfPt 10.48 0.19 Lys-Cso Bond Fund A 10.69 0.18 Canoe Bond Advantage Fd A 8.60 0.17 NEI Cdn Imp Bd Fd A 10.13 0.17 Marquis Inst Bond Port V 4.90 0.16 SunL Core Advtg Cred PP A 8.54 0.16 SL Net Zo Tgt Bd Fd 10.15 0.16 Scot Cdn Inc Fd A 12.31 0.16 Rus Inv Cdn Fix Inc Fd O 110.75 0.16 TD Cdn Bond Fd - Inv 12.60 0.16 Dyn Cdn Bond Fd A 4.73 0.16 Dyn Tact Bond Pvt Pl F 8.09 0.16 Global Equity COMPANY CLOSE CHG Canadian Dollar 40,829.00 17,689.66 DOW NASDAQ S&P 500 S&P/TSX -389.83 -154.58 -43.47 +21.20 24,974.725,606.91 -0.09 +100.50+1.96 OIL GAS GOLD SILVER US$59.09 US$3.46 US$3,422.80 US$33.44 +0.05 DOLLAR 72.55¢ +0.15 24,000 25,000 23,000 26,000 22,000 DAILY CLOSE, PAST 30 DAYS II March April May Manitoba Stocks Ag Growth Int’l Inc. 33.87 1.23 119,219 Artis Real Estate Investment Trust 7.34 0.06 73,905 BCE Inc. 29.71 0.17 3,790,575 Bird River Resources Inc. 0.06 -0.005 54,000 Boyd Group Services Inc. 201.63 0.88 42,980 Exchange Income Corp. 52.83 0.41 93,134 FP Newspapers Inc. 0.61 0 - Gossan Resources Ltd. 0.02 -0.005 179,000 Great West Lifeco Inc. 52.52 0.16 4,577,595 Hudbay Minerals Inc. 10.59 0.37 1,079,047 IGM Financial Inc. 43.81 0.08 97,441 Kane Biotech Inc. 0.08 0 37,000 Medicure Inc. 0.83 0 - NFI Group Inc. 12.16 0.19 148,484 North West Co. Inc. New 55.97 0.06 109,768 Pollard Banknote Ltd. 20.08 -0.03 1,645 Winpak Ltd. 42.50 -0.52 17,695 Marwest Apartment REIT 0.74 0 0 COMPANY CLSE CHG VOL COMPANY CLSE CHG VOL Futures Trading — Grain quotes CANOLA COMPANY OPEN HIGH LOW CLOSE YESTERDAY May '25 - 681.30 - 681.30 689.20 Jul 701.70 704.30 691.10 693.70 701.70 Nov 656.00 659.60 649.40 655.90 656.90 Jan '26 667.40 668.20 658.70 664.80 665.70 Mar 674.90 675.60 667.00 672.50 673.30 May 676.90 682.50 674.30 679.40 679.70 Jul 682.30 688.10 679.70 685.10 684.80 Nov 652.60 655.00 652.60 652.90 653.00 Jan '27 - 655.60 - 655.60 655.70 Mar - 651.00 - 651.00 651.10 May - 650.80 - 650.80 650.90 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 Tuesday. Quotations in Canadian funds. Australian dollar 0.8937 Brazilian real 0.2413 Chinese renminbi 0.191 European euro 1.5646 Hong Kong dollar 0.1778 Indian rupee 0.01635 Indonesian rupiah 0.000084 Japanese yen 0.00966 Mexican peso 0.06996 New Zealand dollar 0.8268 Norwegian krone 0.1339 Peruvian new sol 0.3768 Russian ruble 0.01696 Saudi riyal 0.3675 Singapore dollar 1.0698 South African rand 0.07571 South Korean won 0.001 Swedish krona 0.1439 Swiss franc 1.674 Taiwanese dollar 0.04603 Turkish lira 0.0357 UK pound sterling 1.8434 US dollar 1.3783 A U.S. dollar cost $1.3783 based on daily average Fidelity Cl Lead Fd A 12.40 1.12 Barometer Glo Equ Cl A 21.40 0.03 SEI Gbl Mgd Volat Fd O 22.73 -0.03 IAC Gbl Equity Fd A 20.46 -0.09 Ninepoint Tgt Inc Fd A 9.48 -0.09 SEI Growth 100 Fund O 12.57 -0.15 Fid Gbl Con Eq CN Fd A 12.55 -0.16 Fid Global Equ C N PP B 28.60 -0.16 Canoe Fund Glo Eq Pt Cl A 10.24 -0.16 Fid Global Equ Priv Pl B 38.06 -0.19 Fid Gbl Conc Eq Fd B 16.57 -0.19 DFA Gbl Equ Port Cl A 26.32 -0.20 Fid Global Fund Ser B 95.17 -0.20 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. ;