Euan's Feed
Jun 19, 2014

BlackBerry reports better than expected results, shares surge

WATERLOO/TORONTO (Reuters) – BlackBerry Ltd (BBRY.O: Quote, Profile, Research, Stock Buzz) (BB.TO: Quote, Profile, Research, Stock Buzz) reported a smaller-than-expected quarterly loss on Thursday as the smartphone company’s cost cutting and other turnaround efforts started to pay off.

Shares jumped 10 percent in trading before the bell after BlackBerry burned through less of its cash than many expected and reported its gross profit margin rose from a year earlier.

Jun 18, 2014

In deal with Amazon, BlackBerry to offer 240,000 Android apps

TORONTO (Reuters) – BlackBerry Ltd has agreed a licensing deal with Inc that will let the Canadian smartphone maker offer some 240,000 Android applications from Amazon’s app store on its line-up of BlackBerry 10 devices this fall.

The move allows BlackBerry to add a vast array of consumer-focused apps to its devices, and to focus on developing enterprise and productivity applications, the Waterloo, Ontario-based company said in a statement on Wednesday.

Jun 17, 2014

First Quantum to acquire Lumina Copper for $420 mln

TORONTO/VANCOUVER, June 17 (Reuters) – First Quantum
Minerals Ltd said on Tuesday it has agreed to buy Lumina
Copper Corp for about C$456 million ($420 million), in a
bid to win control of Lumina’s Taca Taca copper project in

The cash-and-stock deal values Vancouver-based Lumina at
about C$9.71 a share, a premium of nearly 25 percent to the
company’s closing price on the TSX Venture Exchange on Monday.

Jun 16, 2014

Canadian home resales jump in May as listings spike

TORONTO, June 16 (Reuters) – Sales of existing homes in
Canada jumped in May from April driven by a sharp increase in
listings and a deferred start to the spring buying season after
a long winter, the Canadian Real Estate Association (CREA) said
on Monday.

The industry group for Canadian real estate agents said
sales were up 5.9 percent last month from April, the largest
month-over-month increase in nearly four years. Actual sales for
May, not seasonally adjusted, were up 4.8 percent from May 2013.

Jun 12, 2014

Lululemon sees tough second-quarter, shares tumble

TORONTO, (Reuters) – Lululemon Athletica Inc (LULU.O: Quote, Profile, Research, Stock Buzz) offered little sign on Thursday that it was pulling out of an extended slump, cutting financial forecasts and warning that second-quarter sales at its once-trendy yogawear shops were off to a weak start.

Its shares dropped more than 15 percent after it said purchases were dropping even as customer traffic was picking up. During a conference call, Chief Executive Laurent Potdevin blamed the decline in part on a “suboptimal” product assortment.

Jun 12, 2014

BlackBerry in deal with EnStream on mobile payments system

TORONTO, June 12 (Reuters) – BlackBerry Ltd said on
Thursday it has signed a agreement with EnStream LP, a mobile
payments joint venture owned by Canada’s three large wireless
carriers, to provide a secure platform for transactions between
banks and consumers.

Under the deal, EnStream would use BlackBerry infrastructure
so financial institutions and mobile operators can securely
store sensitive payment card details on any smartphone capable
of using a near field communication (NFC) tag.

Jun 11, 2014

Lululemon founder turns on board, votes against new chairman

TORONTO, June 11 (Reuters) – Lululemon Athletica Inc’s
founder and biggest shareholder, Chip Wilson, lashed
out at the yogawear retailer’s board on Wednesday, saying the
company’s new chairman and another director are too focused on
short-term growth and that he had voted against them in board

Just hours ahead of the company’s annual meeting in
Vancouver, Wilson issued a press release praising Lululemon’s
new management team, but saying the board is “heavily weighted
towards short-term results at the expense of product, culture
and brand and longer-term corporate goals.”

Jun 9, 2014

Lawyers to argue dangers ignored in Canadian oil train disaster

WASHINGTON/TORONTO, June 9 (Reuters) – Shippers wrongly
moved explosive gas as part of a crude oil delivery that
derailed and killed 47 people in a Canadian town last year,
lawyers seeking to represent the devastated town in a class
action lawsuit are expected to argue in a proceeding that starts
on Monday.

Several tank cars exploded with surprising force when the
cargo from North Dakota’s Bakken energy patch jumped the tracks
and detonated in downtown Lac Megantic, Quebec, last July.

Jun 4, 2014

Tablet maker DataWind plans to raise about C$30 mln in IPO

TORONTO, June 4 (Reuters) – DataWind Inc plans to raise
about C$30 million ($27.41 million) via an initial public
offering on the Toronto Stock Exchange that will value the
discount tablet maker at about C$117 million, according to
documents filed with regulators on Wednesday.

Mississauga, Ontario-based DataWind has grabbed headlines in
recent years as the maker of the world’s cheapest tablet device,
UbiSlate that was initially developed as a budget device for the
Indian market.

Jun 4, 2014

Fulcrum Capital acquires majority stake in Weatherhaven

TORONTO, June 4 (Reuters) – Canadian private equity firm
Fulcrum Capital Partners said on Wednesday it has acquired a
majority interest in privately-held Canadian defence and
infrastructure firm Weatherhaven Global Resources, a maker of
portable shelters.

The two parties did not disclose the terms of the deal, but
said Weatherhaven’s founding shareholders are stepping back and
will assume an advisory role while its current management team,
led by CEO Ray Castelli, have reinvested and will continue to
lead the firm.

    • About Euan

      "Euan Rocha covers mining and minerals in Canada, where he focuses on gold, base metals and fertilizer companies. Euan, who is currently based in Toronto, has previously worked with Reuters in the United States and India. While based in New York for four years, Euan headed the Reuters Alerts team, before moving on to cover the U.S. chemical industry. Euan began his career with Reuters in Bangalore, India in 2004."
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