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Cadence Design Systems shares jumped more than 9% Wednesday after the chip-design software maker reported fourth-quarter results and full-year guidance that surpassed Wall Street projections. Driven by a surge in artificial intelligence infrastructure needs, the company ended the year with a record backlog and a bullish outlook for the coming fiscal periods.
Canada’s benchmark stock index surged Wednesday as a tech-led rally outweighed a double-digit slide in IA Financial shares. The S&P/TSX Composite Index rose 1.5% to 33,364.84 by midday, finding momentum across most sectors even as harsh winter weather triggered a 5.8% drop in national home sales.
Upwork shares surged on Wednesday after the freelance marketplace operator’s board approved a new $300 million stock repurchase program. The move signals a pivot toward returning capital to investors following a period of significant share price volatility and a broader strategic focus on profitability.
Walmart is set to report fourth-quarter results this Thursday, with analysts projecting a significant rise in both profit and revenue as the retail giant leverages its $1 trillion market valuation. The report marks the high-stakes debut of John Furner as CEO, following a period where the company successfully captured market share across diverse income brackets through aggressive digital and automation investments.
Global-e Online shares jumped 14% after the e-commerce facilitator posted fourth-quarter results that significantly outpaced analyst expectations for both profit and revenue. The company reported a sharp rise in gross merchandise volume, signaling robust demand for its cross-border retail services despite a complex global macroeconomic environment.
Halozyme Therapeutics shares dropped nearly 9% on Wednesday after the biopharmaceutical firm reported an unexpected fourth-quarter loss, a downturn driven primarily by heavy acquisition-related expenses that overshadowed a significant jump in revenue.
TFI International shares tumbled on Wednesday after the Montreal-based logistics firm reported lower fourth-quarter profit and revenue, driven by a cooling freight market. While the company exceeded adjusted earnings expectations, a cautious forecast for the first quarter of 2024 triggered investor concerns over the pace of recovery in the shipping sector.
Humain, a Saudi Arabian artificial intelligence firm, revealed a $3 billion investment in Elon Musk’s xAI just weeks before the startup merged with SpaceX. The move secures the government-backed company a significant minority stake in the combined aerospace and AI giant ahead of a highly anticipated initial public offering slated for later this year.
Fiverr International shares tumbled 11% after the freelance marketplace reported fourth-quarter earnings that missed analyst estimates and issued a cautious long-term revenue forecast. The sell-off reflects growing investor anxiety over the company’s ability to sustain buyer growth amid a volatile macroeconomic environment.
Airbnb is launching its largest-ever incentive program, offering a $750 bonus to first-time hosts in the 16 cities slated to host the 2026 FIFA World Cup. The initiative seeks to bolster housing supply as the short-term rental platform reports a massive spike in travel interest ahead of the global tournament.
The global uranium market is entering a structural deficit as the surge in AI data centers and a shift toward carbon-free energy drive nuclear demand to historic highs. With the United States facing a total ban on Russian imports by 2028, industry leaders warn that a massive infusion of capital into mining and enrichment is required to prevent a severe fuel shortage for the world's reactor fleets.
Johnson & Johnson is investing more than $1 billion to construct a next-generation cell therapy manufacturing facility in Montgomery County, Pennsylvania, as part of a massive push to localize high-tech medical production.
Similarweb shares cratered more than 30% to a 52-week low on Thursday after the digital intelligence firm reported a wider-than-expected fourth-quarter loss and issued disappointing revenue guidance. The sell-off reflects investor anxiety as the company struggles with decelerating growth and weakening retention rates among its largest clients.
Insulet shares jumped nearly 10% following a fourth-quarter performance that outpaced Wall Street estimates on both the top and bottom lines. The medical device manufacturer reported a significant revenue increase and issued robust long-term growth targets for 2026, signaling confidence in its insulin delivery technology market share.
Madison Square Garden Sports shares hit an all-time high on Wednesday after the company announced it is exploring a plan to spin off the New York Knicks and New York Rangers into separate publicly traded entities. The proposed move aims to unlock value by decoupling the NBA and NHL franchises, allowing each to operate with independent strategic focuses.
Unnatural Products has secured a research and licensing agreement with Novartis worth up to $1.8 billion to develop macrocyclic peptide therapeutics. The partnership aims to combine AI-driven drug discovery with global pharmaceutical scale to address complex cardiovascular targets that have historically eluded traditional treatment methods.
Royal Bank of Canada has established a specialized artificial intelligence division reporting directly to the chief executive, a move designed to accelerate the deployment of generative and agentic AI across its operations. The initiative aims to capitalize on the bank's decade-long investment in proprietary data to generate C$1 billion (US$733 million) in enterprise value by 2027.
HF Sinclair reported a significantly narrowed net loss for the fourth quarter on Wednesday, outperforming Wall Street expectations despite a slight dip in year-over-year revenue. The energy producer posted adjusted earnings of $1.20 per share, nearly triple the 45 cents anticipated by analysts, as the company navigated refinery maintenance and seasonal demand shifts.
Energy producer HF Sinclair and UPOP Holdings have established a new joint venture, Green Trail Fuels, to manage and supply 30 retail locations across Colorado and New Mexico.
Organigram Global has entered an agreement to acquire Germany’s Sanity Group for up to €227.2 million ($269.4 million), a move designed to cement the Canadian producer’s position in Europe’s rapidly liberalizing cannabis market. The deal, expected to close in the second quarter of 2024, combines cash and stock to absorb the Berlin-based firm, which currently holds the second-largest market share in Germany.
Analog Devices reported a significant jump in fiscal first-quarter profit, outperforming Wall Street expectations behind a surge in data center and industrial demand. The chipmaker posted adjusted earnings of $2.46 per share on revenue of $3.16 billion, signaling a robust start to the year despite broader macroeconomic headwinds.
PowerBank has promoted Andrew van Doorn to the role of president, expanding his responsibilities as chief operating officer as the renewable energy firm targets aggressive growth across North America. Van Doorn will spearhead the company’s operations and strategic scaling efforts, overseeing a pipeline that includes solar, battery storage, and emerging high-tech infrastructure.
Bausch + Lomb has issued a bullish multi-year outlook following a fourth-quarter revenue surge, forecasting sales to reach as high as $5.48 billion by 2026. While the eye-health specialist outperformed top-line expectations behind double-digit growth in its pharmaceutical division, a heavy tax provision widened its net loss during the final months of the year.
Global Payments exceeded Wall Street’s quarterly earnings expectations and issued a bullish outlook for the year ahead, driven by a major corporate restructuring and the early closure of its Worldpay acquisition. The Atlanta-based fintech firm reported adjusted earnings of $3.18 per share, edging past analyst forecasts as it pivots toward high-growth payment technologies.
Verisk Analytics has authorized an 11% increase to its quarterly dividend and significantly expanded its share-repurchase program to $2.5 billion, the company announced Wednesday. The Jersey City-based data and technology provider is ramping up shareholder returns following a year of consistent capital deployment.
Garmin’s board of directors has proposed a 17% increase to its annual dividend alongside a new $500 million share repurchase program, signaling a robust return of capital to investors as its stock price surges.
Pinterest has adjusted its first-quarter financial targets upward after completing the acquisition of tvScientific, a connected television advertising platform. The social media company now projects higher revenue for the period, even as it navigates a broader slowdown in advertiser spending.
Exro Technologies has received the green light from the Toronto Stock Exchange to launch a share-repurchase program targeting up to 10% of its public float. The initiative, scheduled to begin on Feb. 20, allows the Toronto-based clean-tech firm to buy back and cancel as many as 1.71 million shares over the next 12 months.
Moderna shares surged in premarket trading Wednesday after the U.S. Food and Drug Administration accepted a revised application for the company’s experimental flu vaccine. The biotech firm aims to launch the shot for the 2026/27 flu season, targeting adults aged 50 and older following a successful appeal of a previous regulatory rejection.
AutoCanada Ltd. has officially named Samuel Cochrane as its permanent chief executive officer, ending a brief transition period that began late last year. Cochrane, who stepped into the interim role in November 2024, will lead the automotive dealership group as it seeks to stabilize its core operations and improve financial discipline across its North American network.