Members of the Saputo family have just sold $7 million worth of shares in the Montreal trucking company TFI International.
A total of 40,000 shares of the former TransForce were sold on February 16 by numbered companies controlled by the Saputo family. These transactions had to be declared to the authorities since Joey Saputo is a member of the board of directors of TFI.
A spokesperson for the Saputo family tells The Press that these sales transactions arise from an investment decision and are not linked to a specific project for a sports team. This spokesperson also adds that Joey Saputo has no interest in the Montreal Alouettes.
Quebecor lost support from Canaccord after its year-end performance was released on Thursday. Analyst Aravinda Galappatthige withdrew her buy recommendation, pointing to pressure on margins in the media sector, fierce competition with Bell to win internet subscribers, and the stock’s appreciation since the fall. They are now 8 analysts out of 12 to suggest the purchase of the title of the operator of Videotron. Canaccord is the second firm in two months to withdraw its takeover bid. RBC had done so in early January.
The largest shareholder of Metro sold millions of dollars worth of shares in the Montreal grocer last month. A document filed this month with securities regulators says mutual fund manager Fidelity’s stake in Metro has now declined to 13.7% as of early February. This participation stood at 17.7% at the beginning of December.
The chief economist of the National Bank, Stéfane Marion, believes that the market has already expected a lot of good news since the beginning of the year. “Even if the central banks continue to say that there may be other rate hikes, the bond market no longer believes them,” he said in a video capsule published a few days ago. “The market says there will be a central bank pivot. These pivot expectations point to a good period for the markets. It is therefore not abnormal for the stock market to do well. A soft landing is expected, but it still needs to be confirmed. »
The acquisition of the Montreal internet provider Oxio by Cogeco announced at the beginning of the week testifies in particular to the challenge of generating growth for cable distributors. “Most households have improved their connection during the pandemic and now it is more difficult to obtain growth”, comments portfolio manager Philippe Hynes, at Tonus Capital. “There aren’t a lot of targets in Canada. The beauty for Cogeco is that they are smaller, so smaller targets can still be attractive to Cogeco. I also prefer to see them deploy capital in the country since their competitive positioning is better and because the exchange rate is less favorable than in past years. Ultimately, Oxio will be a good acquisition if the price paid is reasonable. »
With only two trading sessions to go in February, the securities of Velan (the company is the subject of a purchase offer), Guru And Bausch Health present themselves as the big Quebec winners of the month on the Toronto Stock Exchange with respective increases of 110%, 33% and 28% since the 1er FEBRUARY. Conversely, PyroGenesis (-29%), 5N More (-17%) and mdf trade (-16%) show the largest declines in Quebec Inc. so far in February on the TSX.
The deadline to contribute to your RRSP is this Wednesday. For those who can afford it, the maximum contribution for 2022 is $29,210.
The Quebec title of WSP reached a new 52-week high on the Toronto Stock Exchange this week, while that ofInnergex just hit a new low.
This section marks a one-week break for spring break. Back March 12.