CTV National News: Lululemon accuses Costco of selling knock-offs in new lawsuit
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The lawsuit alleges that some of Lululemon's popular clothing items are being sold as knock-ffs under Costco's signature Kirkland label.
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CBC
10 minutes ago
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RCMP lay 29 charges in alleged $40M money laundering scheme tied to Calgary business
The RCMP's Integrated Money Laundering Investigative Team has charged two individuals and a company in connection with an alleged $40-million international money laundering scheme. Canex Forex Ltd., Alberta resident Kevin Sarrafi, 39, and British Columbia resident Saba Sarrafi, 45, face charges related to money laundering and fraud, RCMP said in a release. The two accused individuals, who owned and operated a money service business with locations in Calgary and Vancouver, are alleged to have committed fraud against several financial institutions, RCMP said in a release. The alleged fraud saw more than $40 million transferred into Canada from the United Arab Emirates via "a complex network of shell companies and third-party bank accounts," RCMP said. "This investigation underscores the critical importance of collaboration between law enforcement, public agencies, and the private sector to strengthen and enforce Canada's anti-money laundering regime," said the release. Kevin Sarrafi was charged with 27 offences and was scheduled to appear in court in Calgary on Monday. Saba Sarrafi was charged with 29 offences and a Canada-wide warrant was issued for his arrest, RCMP said. Canex Forex was charged with 29 offences.
National Post
20 minutes ago
- National Post
EXCLUSIVE: With digital tax scrapped, U.S. ambassador says he's 'confident we will have an agreement'
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Globe and Mail
27 minutes ago
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What Makes FortiGate the Core Driver of Fortinet's Product Growth?
Fortinet 's FTNT FortiGate platform remains central to its secure networking strategy. As the first product for most customers, FortiGate firewalls help drive hardware adoption and make it easy to expand into other solutions. Powered by Fortinet's FortiASIC chips and unified FortiOS software, FortiGate delivers strong performance, simpler management and lower energy use. These strengths have supported wide adoption and helped Fortinet grow its market share. Customers often begin with FortiGate and later integrate Fortinet's switches, access points or software offerings through FortiLink and FortiOS. Large enterprise wins, such as an eight-figure deal with a Fortune 500 company in the first quarter of 2025, highlight the increasing stickiness of FortiGate-driven customer relationships. Fortinet launched the FortiGate 700G series in May, a high-performance firewall designed for mid-sized businesses and distributed enterprises. This new model delivers a 5-10 times performance boost over competitors and strengthens Fortinet's value proposition by combining performance with energy efficiency and low total cost of ownership. The company believes continued product innovation and deeper enterprise penetration will fuel near-term top-line growth. In the first quarter of 2025, product revenues, which accounted for 30% of total revenues, grew 12% year over year to $459 million. FortiGate hardware outpaced overall product growth, expanding in the mid-teens and remaining Fortinet's primary product driver. Our model estimate for 2025 product revenues is pegged at $2.14 billion, indicating 12.3% growth year over year. FTNT Faces Stiff Competition in the Firewall Space Fortinet faces increasing competition from Palo Alto Networks PANW and Check Point Software CHKP, both of which are seeing strong adoption of their firewall capabilities. In the third quarter of fiscal 2025, Palo Alto Networks saw 20% year-over-year growth in its Software Firewall ARR, driven by public cloud deployments. As AI accelerates cloud adoption, Palo Alto Networks' long-term demand for software firewalls is likely to expand. It is also seeing stable demand for its firewall appliances. In the first quarter of 2025, Check Point Software saw strong demand for its Quantum Force firewall appliances, which drove a 14% year-over-year rise in product and license revenues. Check Point Software expects this firewall momentum to continue through 2026, as customers increasingly adopt its next-generation appliances amid broader infrastructure refresh cycles. FTNT's Share Price Performance, Valuation and Estimates FTNT shares have risen 11.1% in the year-to-date (YTD) period, underperforming the Zacks Security industry's growth of 23.4%. FTNT has outperformed the Zacks Computer and Technology sector's return of 6.1%. FTNT's YTD Price Performance From a valuation standpoint, Fortinet stock is currently trading at a Price/Book ratio of 40.17X compared with the industry's 24.88X. FTNT has a Value Score of F. FTNT Valuation Image Source: Zacks Investment Research The Zacks Consensus Estimate for second-quarter 2025 earnings is pegged at 59 cents per share, unchanged over the past 30 days, indicating 3.51% year-over-year growth. Fortinet currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Check Point Software Technologies Ltd. (CHKP): Free Stock Analysis Report Fortinet, Inc. (FTNT): Free Stock Analysis Report Palo Alto Networks, Inc. (PANW): Free Stock Analysis Report
