Fortis Inc. Releases Second Quarter 2025 Results
ST. JOHN'S, Newfoundland and Labrador, Aug. 01, 2025 (GLOBE NEWSWIRE) — Fortis Inc. ('Fortis' or the 'Corporation') (TSX/NYSE: FTS), a well-diversified leader in the North American regulated electric and gas utility industry, released its second quarter results.1
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National Observer
29 minutes ago
- National Observer
China announces 75.8 per cent tariffs on Canadian canola
China announced a 75.8 per cent preliminary tariff on Canadian canola on Tuesday, following an anti-dumping investigation launched last year in response to Canada's tax on Chinese electric vehicles. China's Ministry of Commerce published the details of the plan on Tuesday, claiming the "dumping" of Canadian canola into the Chinese market is hurting its domestic canola oil market. The Canola Council of Canada says "anti-dumping investigations are initiated when a country suspects a product is being imported at a lower price than it is sold for in the domestic country in which it is produced. "The CCC believes strongly that Canada's canola trade with China is aligned with international rules-based trade," says a statement on the organization's website, posted before China's announcement. The council has not yet commented on Tuesday's tariff decision. China's commerce ministry also said in a separate social media post Tuesday that the two countries met four days ago to discuss trade. "The two sides had in-depth and frank exchanges on bilateral economic and trade relations and key economic and trade concerns of both sides, and exchanged views on deepening bilateral, regional, and multilateral economic and trade co-operation," the post read. The Prime Minister's Office deferred comment on the canola tariffs to the minister of international trade, who did not immediately respond to a request for comment. Canada imposed a 100 per cent tariff on Chinese electric vehicles in October 2024, a move that is to be reviewed within one year. Canada supplies China with most of its canola, but China currently exports very few electric vehicles to Canada. When Canada levied tariffs on Chinese EVs last year — which are significantly less expensive than North American-made EVs, in part because of lower labour and environmental standards and state subsidies — it justified the move as protecting "the transformation and planned investments in Canada's vehicle sector." "Actors like China have chosen to give themselves an unfair advantage in the global marketplace, compromising the security of our critical industries and displacing dedicated Canadian auto and metal workers. So, we're taking action to address that," then-Prime Minister Justin Trudeau said at the time. The Chinese EV tariff also matched a similar move made by then-U.S. president Joe Biden. But with EV sales slumping in Canada following the abrupt ending of the government's popular Incentive for Zero-Emission Vehicle program, which provided up to $5,000 toward the cost of a new EV, environmental groups have called on Canada to revisit the Chinese EV tariff to help drive competition in the Canadian market. "Allowing in a limited quota of these affordable vehicles while also recognizing EU-approved vehicles … would open Canada's vehicle market to fill important market gaps, drive innovation and ultimately make our auto sector more competitive,' Clean Energy Canada said back in July. Canada has pledged to bring back some form of rebate for Canadians wanting to buy a new EV, but hasn't given a timeline for when such a measure would be implemented. This report by The Canadian Press was first published Aug. 12, 2025.
The Market Online
29 minutes ago
- The Market Online
Aurora Cannabis: Profitability plus falling stock equals value play
If you invested in Canadian cannabis stocks just after legalization in 2018, at the height of investor fervor, you are likely holding onto shares at a near total loss. This is because the fervor proved too optimistic, attracting more competition than the industry could absorb, leading to uncontrolled growth, excess supply, margin compression and eventually unprofitability. As a result, some of the industry's initial leaders, then valued in the tens of billions in market capitalization, fell precipitously into the hundreds of millions, making investors wonder why they didn't exit their positions sooner, if they managed to get out in the first place. That said, these fallen leaders, and their tragic stock charts, offer investors today an enticing opportunity to riffle through the rubble for companies whose operations and income statements seem to have been unjustly punished by market-wide pessimism, granting them a leg up to capitalize on a potential US reclassification of cannabis as a less dangerous drug, which could pave the way for related companies to list on US stock exchanges. Aurora Cannabis is down but not defeated A cannabis stock value investors should keep tabs on is Aurora Cannabis (TSX:ACB), one of the aforementioned fallen leaders, but nevertheless, still a global player in the medical and recreational markets in Canada, Europe, Australia and New Zealand. The company also owns a controlling interest in Bevo Farms, North America's leading supplier of propagated agricultural plants. This content has been prepared as part of a partnership with Aurora Cannabis Inc., and is intended for informational purposes only. The Edmonton, Alberta-based operator, whose flagship brands include Drift, San Rafael '71, MedReleaf, CanniMed and Whistler Medical Marijuana Co., commanded a market capitalization of C$12.26 billion in 2019, subsequently falling to C$414.02 million as of August 12, 2025, because of billions in net losses over the preceding years, with Aurora stock giving back 94.6 per cent over the period to date. Dire as Aurora's situation may seem, the company has managed to quietly become the world's largest medical cannabis company in nationally legal markets – see slide 17 of the June 2025 investor deck – while turning its financials around as if from night to day. The turnaround began in fiscal 2024 with a more than 95 per cent decrease in net losses to C$65.58 million and annual adjusted EBITDA turning positive for the first time at C$12.8 million, marking Aurora's strongest annual financial performance in its history. Aurora found its way to positive free cash flow of C$6.5 million and an 87 per cent year-over-year (YoY) increase in adjusted EBITDA to C$4.9 million (representing its seventh-straight positive quarter under the metric) in Q1 fiscal 2025, driven by record revenue from the medical cannabis segment. Momentum continued in Q2 with record quarterly adjusted EBITDA of C$10.1 million, up by 210 per cent YoY, and international revenue exceeding Canadian medical revenue for the first time, growing by 93 per cent to C$35 million. The milestones carried on in Q3, as highlighted by record net income of C$31.2 million, up by 282 per cent YoY, a new record for adjusted EBITDA at C$23.1 million, up by 316 per cent YoY, supported by record medical cannabis revenue of C$68.1 million and management's focus on sustainable long-term profitability. Aurora proceeded to wrap up fiscal 2025 with aplomb, ending the year with positive free cash flow of C$9.9 million and a new record for adjusted EBITDA and global medical revenue, propelled by strong showings from the international and plant propagation segments. With growth across key metrics pushing forward in Q1 fiscal 2026, and management expecting positive free cash flow for the second straight year, Aurora's shift into profitability stands in stark contrast to its competitors' steep losses, granting it differentiated prospects when it comes to delivering shareholder value. Backed by a commitment to science and innovation, Aurora is betting on the brightness of its future, having added 28 proprietary cultivars to its product pipeline since June 2021, with many more in development, as the company pursues strategic market expansions backed by C$186 million in cash as of June 30. A reasonable investor would expect to see Aurora's financial turnaround reflected in its stock price, but this has been far from the case, with shares giving back about 40 per cent since March 2023, creating a margin of safety wide enough to merit the dive into due diligence to substantiate a potential value play. Join the discussion: Find out what everybody's saying about this cannabis stock on the Aurora Cannabis Inc. Bullboard and check out the rest of Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
Globe and Mail
an hour ago
- Globe and Mail
Law Offices of Frank R. Cruz Encourages SelectQuote, Inc. (SLQT) Investors To Inquire About Securities Fraud Class Action
The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of investors who purchased SelectQuote, Inc. ('SelectQuote' or the 'Company') (NYSE: SLQT) securities between September 9, 2020 and May 1, 2025, inclusive (the 'Class Period'). SelectQuote investors have until October 10, 2025 to file a lead plaintiff motion. IF YOU SUFFERED A LOSS ON YOUR SELECTQUOTE, INC. (SLQT) INVESTMENTS, CLICK HERE TO SUBMIT A CLAIM TO POTENTIALLY RECOVER YOUR LOSSES IN THE ONGOING SECURITIES FRAUD LAWSUIT. You can also contact the Law Offices of Frank R. Cruz to discuss your legal rights by email at info@ by telephone at (310) 914-5007, or visit our website at What Happened? On May 1, 2025, the U.S. Department of Justice ('DOJ') filed a False Claims Act complaint against SelectQuote, alleging, '[f]rom 2016 through at least 2021' SelectQuote received 'tens of millions of dollars' in 'illegal kickbacks' from health insurance companies in exchange for steering Medicare beneficiaries to enroll in the insurers' plans. Further, SelectQuote, in exchange for kickbacks, engaged in a conspiracy with major insurers to illegally discriminate against beneficiaries deemed to be less profitable, including those with disabilities. The DOJ concluded that SelectQuote made materially false claims by stating it offers 'unbiased coverage comparisons' when in fact it 'repeatedly directed Medicare beneficiaries to the plans offered by insurers that paid them the most money, regardless of the quality or suitability of the insurers' plans.' On this news, SelectQuote's stock price fell $0.61, or 19.2%, to close at $2.56 per share on May 1, 2025, on unusually heavy trading volume. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company was directing Medicare beneficiaries to the plans offered by insurers that best compensated SelectQuote, regardless of the quality or suitability of the insurers' plans; (2) that SelectQuote did not provided unbiased comparison shopping for Medicare Advantage insurance plans; (3) that SelectQuote received illegal kickbacks to steer Medicare beneficiaries to certain insurers and limit enrollment in competitors' plans; (4) that as a result, SelectQuote had not complied with applicable laws, regulations, and contractual provisions; (5) that SelectQuote was vulnerable to regulatory and legal sanctions as a result of its conduct, including claims that it had violated the False Claims Act; and (6) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. Contact Us To Participate or Learn More: If you purchased SelectQuote securities, wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, please click HERE or contact us at: This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
