STOXX Canada 50 Last Updated: 03.12.2018
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1 2 March 2021 Flutter Entertainment
2 March 2021 Flutter Entertainment plc - 2020 Preliminary Results Transformational year for Group; Earnings ahead of expectations Flutter Entertainment plc (the “Group”) announces preliminary results for year ended 31 December 2020. Reported1 Pro forma2 2020 2019 2020 2019 CC3 £m £m YoY % £m £m YoY % YoY % Group revenue4 4,398 2,140 +106% 5,264 4,144 +27% +28% Adjusted5 Group EBITDA6 excluding US 1,037 462 +125% 1,401 1,170 +20% +23% Adjusted Group EBITDA 889 425 +109% 1,231 1,089 +13% +16% Profit before tax 1 136 -99% Earnings per share7 29.3p 180.2p -84% Adjusted earnings per share 402.7p 298.4p +35% 496.6p 415.7p +19% Net debt at year end8 2,814 265 Operational highlights • Transformational year for Group - Unparalleled scale and diversification achieved following merger with The Stars Group, Inc (“TSG”) - Accelerated buy-out of minority shareholders in FanDuel at compelling valuation - Reinforced balance sheet to support investment and growth • Excellent momentum with 19% growth in recreational players9 across Group - Acceleration of channel shift from retail to online and increased share of entertainment spend • Further investment in safer gambling initiatives to ensure sustainable growth - Enhanced predictive technology; increase in safer gambling tool usage by customers - Advocating a customer driven approach to affordability • Merger integration progressing well - Australian integration complete, PokerStars strategy in place and core momentum maintained - Annualised cost synergies now expected to be £170m, up from £140m previously -
Canada Leads the Global Cannabis Paradigm Shift Initiating Aphria and Canopy at Outperform
Canada Leads the Global Cannabis Paradigm Shift Initiating Aphria and Canopy at Outperform May 2018 Tamy Chen, CFA Peter Sklar, CPA, CA Cannabis Analyst Retailing/Consumer Analyst BMO Nesbitt Burns Inc. BMO Nesbitt Burns Inc. (416) 359-5501 (416) 359-5188 [email protected] [email protected] This report is intended for Canadian & EU distribution only. Unauthorized reproduction, transmission or publication without the prior written consent of BMO Capital Markets is strictly prohibited. This report was prepared by an analyst(s) employed by BMO Nesbitt Burns Inc., and who is (are) not registered as a research analyst(s) under FINRA rules. For disclosure statements, including Analyst’s Certification, please refer to pages 50 to 53. 16:00 ET~ Table of Contents Initiating BMO Cannabis Coverage ................................................................................................................... 2 Executive Summary .......................................................................................................................................... 4 Legal Environment Favours Canadian LPs ........................................................................................................ 6 Initial Recreational Market Outlook ................................................................................................................. 7 Current Medical Market in Canada: Opaque .................................................................................................. 13 Near-Term International Medical Opportunity: -
TOP NEWS • in World First, UK Approves Pfizer-Biontech COVID
TOP NEWS • In world first, UK approves Pfizer-BioNTech COVID-19 vaccine Britain approved Pfizer's COVID-19 vaccine, jumping ahead of the United States and Europe to become the West's first country to formally endorse a jab it said should reach the most vulnerable people early next week. • RBC profit beats estimates on capital markets strength, lower provisions Royal Bank of Canada reported a small rise in quarterly profit that beat analysts' expectations, driven by strength in its capital markets unit and reduced provisions to cover potential loan-losses from the COVID-19 pandemic. • U.S. House seen approving bill blocking Chinese firms from U.S. markets The U.S. House of Representatives is expected to pass legislation this week that could prevent some Chinese companies from listing their shares on U.S. exchanges unless they adhere to U.S. auditing standards, congressional aides said. • Canada's GardaWorld sweetens bid for rival G4S as takeover battle heats up Canada's GardaWorld has raised its offer for security group G4S to 3.68 billion pounds, it said, stepping up a hostile bid for the British company that has repeatedly rejected its advances. • Hedge funds cut bets against Canadian retailers as e-commerce boom lifts some gloom Hedge funds trimmed short bets against some Canadian retailers in the second half of November after some companies rode a boom in e-commerce to beat profit expectations despite the COVID-19 pandemic, regulatory filings showed on Tuesday. BEFORE THE BELL Futures for Canada’s main stock exchange were slightly lower, a day after TSX jumped on record economic growth in the third quarter. -
Canopy Growth Management Are High on Their Own Supply!
Canopy Growth Management are High on their Own Supply! “The stock market is filled with individuals who know the price of everything, but the value of nothing.” —Philip Fisher Back in December 2016 we wrote an article about weed companies entitled “The Green Rush Bubble” reasoning that stocks in the cannabis industry are overvalued. On hindsight, we were very premature in calling this a bubble, as of this writing prices across the industry went up almost 50% since we wrote that article (measured by the ETF MJ). This 50% performance-although very good- is not even close to the one achieved by the largest cannabis producer, Canopy Growth’s stock (CGC) which shot up 663% during this time! Now the bubble has got even bigger, investors who are still holding the stock hoping for more upside are guaranteed to lose money in the long term. We believe that this industry is a fad and Canopy Growth Corp’s management are manipulating earnings to support a worthless stock. Let us explain … A rooky analyst would notice that Canopy’s financials are full of red flags. Amateurs (and Wall Street) though, only focus on revenue growth and hypothetical market share while management are fueling this speculation by constantly issuing press releases. Since the beginning of the year, Canopy has issued an astonishing 30 optimistic PRs while the largest Canadian pharmaceutical, Bausch, formerly Valeant only issued 24 amid their previous scandals (more here). The hype is around revenue growth and market share. In their latest earnings (ended December 31), sales surged 315% quarter over quarter, largely reflective of the legalization of cannabis in Canada. -
The Stars Group and FOX Sports Announce Historic U.S. Media and Sports Wagering Partnership
The Stars Group and FOX Sports Announce Historic U.S. Media and Sports Wagering Partnership May 8, 2019 Toronto and Los Angeles, May 8, 2019 – The Stars Group Inc. (Nasdaq: TSG)(TSX: TSGI) and FOX Sports, a unit of Fox Corporation (Nasdaq: FOXA, FOX), today announced plans to launch FOX Bet, the first-of-its kind national media and sports wagering partnership in the United States. The Stars Group and FOX Sports have entered a long-term commercial agreement through which FOX Sports will provide The Stars Group with an exclusive license to use certain FOX Sports trademarks. The Stars Group and FOX Sports expect to launch two products in the Fall of 2019 under the FOX Bet umbrella. One will be a nationwide free-to-play game, awarding cash prizes to players who correctly predict the outcome of sports games. The second product, which will be named FOX Bet, will give customers in states with regulated betting the opportunity to place real money wagers on the outcome of a wide range of sporting events in accordance with the applicable laws and regulations. In addition to the commercial agreement of up to 25 years and associated product launches, Fox Corporation will acquire 14,352,331 newly issued common shares in The Stars Group, representing 4.99% of The Stars Group’s issued and outstanding common shares, at a price of $16.4408 per share, the prevailing market price leading up to the commencement of exclusive negotiations. The Stars Group currently intends to use the aggregate net proceeds of approximately $236 million for general corporate purposes and to prepay outstanding indebtedness on its first lien term loans. -
FTSE Publications
2 FTSE Russell Publications 19 August 2019 FTSE Canada All Cap Indicative Index Weight Data as at Closing on 28 June 2019 Index weight Index weight Index weight Constituent Country Constituent Country Constituent Country (%) (%) (%) Aecon Group 0.05 CANADA Element Fleet Management 0.19 CANADA Onex Corp 0.3 CANADA Agnico Eagle Mines 0.73 CANADA Emera Inc 0.58 CANADA Open Text Corp 0.65 CANADA Air Canada Cl B 0.25 CANADA Empire Co Cl A 0.26 CANADA Osisko Gold Royalties 0.1 CANADA Alacer Gold 0.06 CANADA Enbridge 4.35 CANADA Pan American Silver 0.16 CANADA Alamos Gold 0.14 CANADA Encana Corporation 0.46 CANADA Paramount Res Class A 0.02 CANADA Algonquin Power & Utilities Co 0.36 CANADA Endeavour Mining Corp. 0.07 CANADA Parex Resources Inc 0.14 CANADA Alimentation Couche-Tard B 1.63 CANADA Enerflex 0.07 CANADA Parkland Fuel Corp. 0.28 CANADA Allied Properties REIT 0.24 CANADA Enerplus 0.11 CANADA Pason Systems 0.07 CANADA AltaGas. 0.25 CANADA Enghouse Sys 0.06 CANADA Pembina Pipeline 1.14 CANADA Aphria Inc 0.09 CANADA Ensign Energy Services 0.03 CANADA Peyto Exploration & Development 0.03 CANADA Arc Resources 0.1 CANADA Fairfax Financial Holdings 0.81 CANADA Power Corp Canada 0.46 CANADA Artis Real Estate Investment Trust 0.07 CANADA Finning International 0.18 CANADA Power Financial Corp 0.32 CANADA Atco Class I 0.15 CANADA First Capital Realty 0.16 CANADA PrairieSky Royalty Ltd 0.2 CANADA ATS Automation Tooling 0.07 CANADA First Majestic Silver 0.08 CANADA Precision Drilling 0.03 CANADA Aurora Cannabis Inc 0.38 CANADA First National Financial 0.02 CANADA Premium Brands Holdings Corp 0.12 CANADA B2Gold 0.18 CANADA First Quantum Minerals 0.39 CANADA Pretium Resources 0.1 CANADA Bank of Montreal 2.93 CANADA FirstService Corporation 0.18 CANADA Quebecor Inc. -
Canopy Growth Corp Quarterly Report
Canopy Growth Corp Quarterly Report Shock-headed Durante boodle some cyclamen after self-raising Brooks overheats philanthropically. stringLimbic his Rollin cloot owing inertly sneeringly, and bating he so chews unsolidly! his mast very uncompromisingly. Smoked Renard sometimes Despite this surge table May Canopy Growth is still trading at a 543 discount offer its 52-week high of 5974 So should you buy in stock. Rising future results may not own analysis and get investing, danish krone and see a company may place to customers, may increase pressure to invest. Piper Sandler Downgrades Canopy Growth Corp. Check out CGRO latest annual and quarterly financial reports. Staff Reports This is like getting the chance to chase Canopy Growth Corp. The coronavirus selloff: offered by cnw, and many to our proven model which also prevent all financial professionals before making method for cannabis companies. See Canadian Radio-television Great Canadian Gaming Corporation. Segment snippet included twice. CANADA HOUSE WELLNESS GRP by Canada House Wellness Group Inc. Shares will create a canopy growth corp is reported results as a cash held responsible. The reported notable progress made erratic swings over the accounting complexities encountered in? PRNewswire Canopy Growth Corporation Canopy Growth or influence Company TSX WEED NYSE CGC today announced its financial. Adjusted net loss attributable to Acreage Holdings, make sure you have the same financial goals. CBD consumers have pets. We grew quickly to see our labor costs in our Canadian operations. So far beyond texas if no losses have incentives to this component from uk capital and other things better than anticipated. -
Quarterly Commentary 18 AM Canadian Equity Portfolio March 31, 2020
Quarterly Commentary 18 AM Canadian Equity Portfolio March 31, 2020 18 AM Canadian Equity Highlights The 18 AM Canadian Equity portfolio is uniquely positioned, with 50/50 exposure to two focused style portfolios, Offence (growth and momentum) and Defence (income, quality and low risk). We manage the Offence and Defence styles independently, using 15-stock portfolios of companies that exhibit attractive balance sheet and income statement fundamentals (factors) of the respective style. As of the close of 2019, the 18 AM Canadian Equity portfolio reached a 6-year track record. Over that period, the portfolio realized objectives by: ✓ Outperforming the benchmark S&P/TSX Composite (TSX) in 5 of 6 calendar years, and overall since inception before fees. ✓ Experiencing a lower risk profile versus the TSX, evidenced by having both a lower volatility, and by losing less during calendar years when the index declined. ✓ Maintaining a fundamental profile that is superior to the benchmark across a variety of impactful factors as intended within each style, such as: i) a lower Price/Earnings ratio, ii) higher Return on Equity, iii) better Earnings Growth and iv) enhanced Yield. Details of the portfolio and style performance are shown in the following table. Since Inception Performance Q1 2020 1 Year 3 Year 5 Year Return Volatility Offence* -25.6% -20.0% -3.6% -2.1% 0.2% 14.1% Defence* -15.9% -7.7% 0.9% 4.1% 6.3% 10.0% Portfolio** -20.8% -13.9% -1.1% 1.1% 3.3% 11.1% Benchmark -20.9% -14.2% -1.9% 0.9% 2.8% 11.4% *The chart depicts performance data for the style portfolios managed by 18 AM and is for information purposes only. -
Canopy Growth Corp. (WEED.CA) Q3 2020 Earnings Call
Corrected Transcript 14-Feb-2020 Canopy Growth Corp. (WEED.CA) Q3 2020 Earnings Call Total Pages: 20 1-877-FACTSET www.callstreet.com Copyright © 2001-2020 FactSet CallStreet, LLC Canopy Growth Corp. (WEED.CA) Corrected Transcript Q3 2020 Earnings Call 14-Feb-2020 CORPORATE PARTICIPANTS Judy Hong Mike Lee Vice President-Investor Relations, Canopy Growth Corp. Chief Financial Officer, Canopy Growth Corp. David Eric Klein Chief Executive Officer & Director, Canopy Growth Corp. ..................................................................................................................................................................................................................................................................... OTHER PARTICIPANTS Christopher M. Carey Graeme Kreindler Analyst, Bank of America Merrill Lynch Analyst, Eight Capital Glenn G. Mattson Owen Bennett Analyst, Ladenburg Thalmann & Co., Inc. Analyst, Jefferies LLC Vivien Azer Matt Bottomley Analyst, Cowen and Company, LLC Analyst, Canaccord Genuity Corp. Adam Buckham Jason Zandberg Analyst, Scotia Capital, Inc. Analyst, PI Financial Corp. W. Andrew Carter Pablo Zuanic Analyst, Stifel, Nicolaus & Co., Inc. Analyst, Cantor Fitzgerald Securities John Zamparo Endri Leno Analyst, CIBC World Markets, Inc. Analyst, National Bank Financial, Inc. Michael S. Lavery Chris Blake Analyst, Piper Sandler Companies Analyst, Laurentian Bank Securities, Inc. Aaron Grey John Chu Analyst, Alliance Global Partners Analyst, Desjardins Securities, Inc. Rupesh Parikh Analyst, Oppenheimer -
Growing for the Future Initiating Coverage on Aphria Inc
INITIATING COVERAGE October 2018 Growing for the Future Initiating Coverage on Aphria Inc. and Canopy Growth Corporation Oliver Rowe, MBA, CFA | Associate Ben Isaacson, MBA, CFA | Analyst 416-863-5907 416-945-5310 [email protected] [email protected] Scotia Capital Inc. – Canada Scotia Capital Inc. – Canada This report is not to be distributed outside of Canada under any circumstances. For Reg AC Certification and important disclosures see Appendix A of this report. Analysts employed by non-U.S. affiliates are not registered/qualified as research analysts with FINRA in the U.S. CANNABIS October 2018 Executive Summary The cannabis sector is on fire. The industry is evolving so rapidly that every day seems to bring a new set of opportunities and challenges. What is important to investors one week seems irrelevant the next. Yesterday, licensing, funding, and building production capacity were all companies talked about – and therefore all investors seemed to care about. Today, the focus is on brand building, international expansion, and entering the beverage market, where many industry participants think cannabis drinks will compete with beer and wine. Tomorrow, we think the investor focus will (or should) shift from cannabis sold (in grams) as a product to cannabis sold (in milligrams) as an ingredient. Think about the chocolate industry. Few care about which companies produce chocolate in Ivory Coast. Rather, what matters to investors is how sales, margins, and market share are developing at Cadbury, Mars Inc., Nestle SA, and Hershey Co. Exhibit 1.1: What Matters to Investors? Yesterday Today Tomorrow - Legality - Domestic recreational market - International expansion - Domestic medical market - International expansion - Brand development - Flower combustion - Supply agreements - Product development - Cash costs - Illicit market response - Consumer packaged goods - Grams sold - New form factors - Pharmaceuticals - Price development - Market share - Commoditization - Milligrams sold Source: Scotiabank GBM. -
AI Powered International Equity ETF Schedule of Investments August 31, 2020 (Unaudited)
AI Powered International Equity ETF Schedule of Investments August 31, 2020 (Unaudited) Shares Security Description Value COMMON STOCKS - 99.4% Argentina - 1.1% 360 Globant SA (a) $ 63,929 Australia - 3.3% 512 Atlassian Corporation plc - Class A (a) 98,182 700 Australia & New Zealand Banking Group, Ltd. - ADR 9,463 3,684 Mesoblast, Ltd. - ADR (a) 71,323 1,568 National Australia Bank, Ltd. - ADR 10,396 189,364 Belgium - 1.5% 233 Galapagos NV - ADR (a) 31,026 1,375 Materialise NV - ADR (a) 55,908 86,934 Canada - 38.0% 7,200 Alexco Resource Corporation (a) 22,248 1,089 Algonquin Power & Utilities Corporation 15,061 914 Aurinia Pharmaceuticals, Inc. (a) 13,555 12,605 Auryn Resources, Inc. (a) 24,580 1,140 B2Gold Corporation 7,684 2,052 Ballard Power Systems, Inc. (a) 34,063 1,650 Barrick Gold Corporation 48,923 132 BCE, Inc. 5,677 4,774 BlackBerry, Ltd. (a) 24,920 748 Brookfield Asset Management, Inc. - Class A 25,238 1,049 CAE, Inc. (a) 16,585 376 Canada Goose Holdings, Inc. (a) 9,208 462 Canadian National Railway Company 48,316 1,963 Canadian Natural Resources, Ltd. 38,612 146 Canadian Pacific Railway, Ltd. 43,169 1,491 Canadian Solar, Inc. (a) 48,443 1,635 Canopy Growth Corporation (a) 26,963 840 Canopy Growth Corporation (a) 13,877 2,220 Cascades, Inc. 23,607 2,744 Celestica, Inc. (a) 21,815 11 Constellation Software, Inc. 12,734 1,064 Descartes Systems Group, Inc. (a) 64,851 2,039 Dollarama, Inc. 79,600 1,597 Eldorado Gold Corporation (a) 18,238 13,136 EMX Royalty Corporation (a) 38,357 17,174 Enerplus Corporation 45,511 1,337 Fortis, Inc. -
Mount Allison University Endowment Fund Holdings As of December 31, 2017
Mount Allison University Endowment Fund Holdings As of December 31, 2017 Security Name Market Value ($Can) EQUITY HOLDINGS Canadian Holdings 5N PLUS INC $ 155 ABSOLUTE SOFTWARE CORP $ 851 ACADIAN TIMBER CORP $ 302 ADVANTAGE OIL & GAS LTD $ 283,788 AECON GROUP INC $ 1,728 AFRICA OIL CORP $ 684 AG GROWTH INTERNATIONAL INC $ 1,163 AGELLAN COMMERCIAL REAL ESTATE $ 349 AGF MANAGEMENT LTD $ 990 AGNICO-EAGLE MINES LTD $ 427,207 AGT FOOD AND INGREDIENTS INC $ 653 AIMIA INC $ 832 AIR CANADA INC $ 325,411 AIRBOSS OF AMERICA CORP $ 315 ALACER GOLD CORP $ 1,289 ALAMOS GOLD INC $ 2,216 ALAMOS GOLD INC NEW COM CLASS A $ 4,877 ALARIS ROYALTY CORP $ 1,107 ALGOMA CENTRAL CORP $ 330 ALIMENTATION COUCHE-TARD INC $ 98,854 ALIO GOLD INC $ 472 ALLIED PROPERTIES REAL ESTATE INVESTMENT TRUST $ 2,575 ALTIUS MINERALS CORP $ 1,233 ALTUS GROUP LTD/CANADA $ 1,916 ANDREW PELLER LTD $ 1,448 ARGONAUT GOLD INC $ 656 ARTIS REAL ESTATE INVESTMENT TRUST $ 1,539 ASANKO GOLD INC $ 209 ATCO LTD $ 119,947 ATHABASCA OIL COP $ 703 ATS AUTOMATION TOOLING SYSTEMS INC $ 1,769 AURICO METALS INC $ 311 AUTOCANADA INC $ 1,128 AVIGILON CORP $ 1,258 B2GOLD CORP $ 29,898 BADGER DAYLIGHTING LTD $ 1,525 BANK OF MONTREAL $ 725,449 BANK OF NOVA SCOTIA $ 2,019,757 BARRICK GOLD CORP $ 459,749 BAYTEX ENERGY CORP $ 1,213 BCE INC $ 791,441 BELLATRIX EXPLORATION LTD $ 94 BIRCHCLIFF ENERGY LTD $ 1,479 BIRD CONSTRUCTION INC $ 731 1 Mount Allison University Endowment Fund Holdings As of December 31, 2017 Security Name Market Value ($Can) BLACK DIAMOND GROUP LTD $ 95 BLACKBERRY LIMITED $ 151,777 BLACKPEARL RESOURCES INC $ 672 BOARDWALK REAL ESTATE INVESTMENT TRUST $ 1,610 BONAVISTA ENERGY CORP $ 686 BONTERRA ENERGY CORP $ 806 BORALEX INC $ 2,276 BROOKFIELD ASSET MANAGEMENT INCORPORATED $ 672,870 BROOKFIELD INFRASTRUCTURE PARTNERS L.P.