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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.
SM Energy has entered a definitive agreement to divest its South Texas assets to Caturus Energy for $950 million, a move aimed at strengthening its balance sheet through strategic debt reduction.
EFG International shares tumbled nearly 10% on Wednesday after the Swiss private bank’s 2025 net profit missed analyst expectations due to a surprise 59.5 million franc legal provision. Despite reporting record revenue, the Zurich-based lender struggled to reassure investors as the financial fallout from a long-running dispute with Kuwait’s public pension fund weighed on its capital ratios.
Fresh Del Monte Produce Inc. reported a significant jump in fourth-quarter profit, as higher banana prices and expanded logistics services helped the company overcome a decline in its fresh-cut vegetable business. The produce giant saw net income climb to $31.9 million, up from $20.4 million a year earlier, despite only a modest increase in overall revenue.
Power Corp. of Canada has appointed James O’Sullivan as its new chief executive, succeeding R. Jeffrey Orr, who will transition to the role of vice chair. The leadership change, announced Wednesday, concludes Orr’s six-year tenure at the helm of the Montreal-based financial services giant and signals a strategic focus on internal continuity.
Cinemark Holdings reported a sharp decline in fourth-quarter profit, missing Wall Street expectations as a weak lineup of holiday film releases failed to match the previous year’s box office momentum. The theater chain’s net income fell to $34.1 million, or 16 cents a share, significantly trailing the 26 cents per share anticipated by analysts.
Shares of Rush Street Interactive jumped 21% in premarket trading Wednesday after the online gaming operator reported a 28% revenue surge and issued a bullish financial outlook for the coming year. Despite a slight miss on adjusted earnings, the company’s expanding user base across North America signaled strong momentum for its digital casino and sportsbook platforms.
Rio Tinto is set to report its full-year financial results this Thursday, with analysts projecting a rise in underlying earnings to $11.02 billion fueled by a resilient copper market. As the world’s second-largest miner pivots from a collapsed merger with Glencore, the focus shifts to CEO Simon Trott’s restructuring agenda, which includes a multi-billion-dollar divestment strategy and a projected boost to shareholder dividends.
Shares of IMCD plummeted 14% in early European trading after the specialty chemicals distributor reported a decline in fourth-quarter revenue and slashed its dividend, signaling a sharp slowdown in global industrial demand.
Mistral AI has reached a deal to acquire the cloud-computing startup Koyeb, marking the French AI champion's first acquisition as it seeks to streamline how developers deploy and scale artificial intelligence models.
Nestle is scheduled to report its 2025 financial results this Thursday, with investors bracing for a slight decline in annual sales and profit as the company navigates a sensitive infant formula recall and shifting organic growth dynamics.
French energy major TotalEnergies SE has repurchased nearly 600,000 of its own shares over a two-day period in mid-February, part of a strategic capital return program authorized by its shareholders. The transactions, valued at approximately €38 million, were executed on the Euronext Paris exchange as the company continues to optimize its balance sheet.
Mediobanca shares jumped on Wednesday following an announcement from Banca Monte dei Paschi di Siena (MPS) that it will delist the storied investment bank from the Milan stock exchange. The decision, finalized during a Tuesday board meeting, signals the final integration phase of a $19 billion takeover aimed at creating Italy’s third-largest financial institution.
Major global indices trended upward in early trading as U.S. equity futures and European benchmarks posted modest gains, buoyed by positive momentum in Asia and a busy session for individual corporate movers.
Japanese Trade Minister Ryosei Akazawa announced on Wednesday a $36 billion investment package for U.S. infrastructure and manufacturing, marking the first phase of a broader strategic partnership. The initiative targets critical sectors including power generation, oil exports, and synthetic diamond production to bolster economic security and reduce supply chain dependence on China.
Google-owned YouTube has resolved a widespread technical failure that paralyzed the platform's discovery features for hundreds of thousands of users. The disruption, rooted in the site's recommendation engine, rendered homepages blank and prevented videos from surfacing on the app and desktop site alike.
YouTube is working to fully restore services after a technical glitch in its recommendation system prevented videos from appearing on its homepage and mobile app.