Trump Hikes Tariffs On Some Canadian Goods to 35%
On CTV Morning Live, Political Commentator & Podcaster, David Moscrop addresses U.S. President Trump's latest tariff hikes on Canadian goods.
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CTV News
30 minutes ago
- CTV News
Anishinabek Police website wins 2 Dot Comm awards
Anishinabek Police Service's new website, launched July 15, won two Dot Comm platinum awards in policing and design. It was among only three Canadian sites honoured internationally.
Globe and Mail
an hour ago
- Globe and Mail
Acacia Research (ACTG) Q2 Revenue Up 98%
Key Points GAAP revenue nearly doubled year over year to $51.2 million in Q2 2025, driven by newly acquired manufacturing operations, but missed the $55.0 million GAAP revenue estimate. Non-GAAP earnings per share came in at $(0.06), short of the $(0.05) non-GAAP consensus estimate; Adjusted EBITDA (non-GAAP) declined to $1.9 million from $4.1 million. Intellectual Property segment GAAP revenue dropped sharply to $0.3 million, highlighting continued volatility and reliance on one-time settlements. These 10 stocks could mint the next wave of millionaires › Acacia Research (NASDAQ:ACTG), an investment firm known for acquiring undervalued businesses across multiple sectors, released its second quarter results on August 6, 2025. The headline news from the period: GAAP revenue soared 98% from the prior-year quarter, reaching $51.2 million, primarily on the back of the Deflecto acquisition in its manufacturing business. However, The company missed analyst expectations, which had forecasted $55.0 million in GAAP revenue. Non-GAAP earnings per share (EPS) landed at $(0.06), compared with the anticipated $(0.05). Overall, the quarter reflected robust top-line growth from acquisitions. Metric Q2 2025 Q2 2025 Estimate Q2 2024 Y/Y Change EPS (Non-GAAP) $(0.06) $(0.05) $(0.01) (500.0%) EPS (GAAP) $(0.03) $(0.08) N/A Revenue (GAAP) $51.2 million $55.0 million $25.8 million 98.4% Total Company Adjusted EBITDA $1.9 million $4.1 million (53.7%) Free Cash Flow (Non-GAAP) $47.9 million N/A Source: Analyst estimates for the quarter provided by FactSet. Business Overview and Strategic Focus Acacia Research operates as an investment platform that acquires, manages, and seeks to unlock value in businesses across manufacturing, industrial, energy, and intellectual property. It searches for underappreciated and complex assets, with a specific emphasis on free cash flow potential and operational improvement. In recent quarters, the company has concentrated on expanding by acquisition, particularly with the addition of Deflecto to create a new manufacturing segment. Key success factors for Acacia Research include selecting the right acquisition targets, integrating them efficiently, and achieving steady cash flow. The company also leverages its partnership with Starboard Value to enhance sourcing and execution of strategic transactions. Quarter Highlights: Financial and Operational Performance The most prominent story this period was headline revenue growth, which nearly doubled year over year, with GAAP revenue increasing 98% to $51.2 million from $25.8 million in Q2 2024. This jump was primarily driven by the Manufacturing Operations segment, thanks to the second full quarter of Deflecto's contribution, generating $29.0 million in segment revenue. Energy Operations (Benchmark) delivered $15.3 million in GAAP revenue, up modestly from $14.2 million in Q2 2024, and Industrial Operations (Printronix) posted $6.6 million in GAAP revenue, up slightly from $6.3 million for Q2 2024. However, the IP segment, focused on licensing technology and patent portfolios, was a weak spot. IP revenue (GAAP) fell sharply to $0.3 million from $5.3 million in Q2 2024, reflecting a lack of new settlements or licensing income in the quarter. This high volatility is typical in IP licensing businesses, which often depend on unpredictable legal settlements. The first half of the year had been boosted by a large one-time intellectual property (IP) settlement, but the second quarter saw minimal activity. In contrast, Energy and industrial divisions showed modest revenue growth, with Energy Operations Adjusted EBITDA slightly declining and Industrial Operations Adjusted EBITDA increasing. The new manufacturing segment is now the largest by revenue, but its margin profile is slim, as shown by $1.3 million in adjusted EBITDA on $29.0 million in revenue, around a 4.4% margin. Despite strong revenue growth, profitability metrics deteriorated. Total company adjusted EBITDA (non-GAAP) was $1.9 million, a drop from $4.1 million in the prior-year period. Operated segment adjusted EBITDA (non-GAAP, excluding parent-level costs) was $6.8 million, down from $8.8 million for Q2 2024. Notably, Sales and marketing expenses for industrial and manufacturing operations increased to $3.4 million. Cash, cash equivalents, and equity securities totaled $338.2 million at period-end, up from $297.0 million at December 31, 2024, providing flexibility for future acquisitions or shareholder programs. Free cash flow (non-GAAP) was $47.9 million, aided mostly by IP settlement receipts booked earlier in the year. Total consolidated debt was $104.4 million as of June 30, 2025, with all borrowings at the operating subsidiary level and none at the parent company. Book value per share stood at $5.99, with 96.4 million shares outstanding. Segment and Product Updates, One-Time Items, and Dividend The company's diverse portfolio includes manufacturing products (Deflecto makes plastic-based goods for air distribution, transportation, and office use), industrial equipment (Printronix specializes in printing solutions), energy assets (Benchmark manages oil, gas, and natural gas liquids), and intellectual property (Acacia Research Group pursues patent-related revenue). Energy operations had an Adjusted EBITDA of $6.95 million on $15.32 million in revenue. -- while IP's contribution has proven highly variable and manufacturing's headline revenue has not yet delivered expected profit scales. Looking deeper at trends, the energy business posted stable results, reporting flat adjusted EBITDA (non-GAAP) on a modest increase in revenue. Industrial operations maintained small but positive margins. The manufacturing unit is in its initial integration phase, with management focusing on cost controls, footprint optimization, and streamlined product offerings. Despite capturing the most revenue, Deflecto's margins were slim due to ramp-up costs and higher G&A. though investors should note that first quarter results included a sizeable legal settlement in the Intellectual Property segment, distorting free cash flow and headline earnings for the current year. The company also announced a new partnership with Unchained Capital and Build Asset Management to pursue a Bitcoin-backed commercial lending product. This represents a move outside its traditional domains, and the company did not specify the scale or risk profile of the initiative in its filing. Acacia Research does not currently pay a dividend. Outlook and What to Watch Ahead Management did not provide explicit financial guidance for the remainder of fiscal 2025 or for its key segments. The leadership team reaffirmed its acquisition-driven growth strategy and noted that its strong cash position enables continued pursuit of new investments, but stopped short of giving concrete forecasts. For observers, several issues warrant attention in coming quarters. Key areas include the sustainability of revenue mix, integration of newly acquired businesses (especially Deflecto), margin recovery efforts, and the ability to generate recurring cash flow beyond large, infrequent IP settlements. Volatility in the IP segment and the still-maturing manufacturing business will likely be central drivers of earnings variability for the foreseeable future. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,026%* — a market-crushing outperformance compared to 180% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. *Stock Advisor returns as of August 4, 2025
CBC
an hour ago
- CBC
Victoria police investigating antiisemitic graffiti at 'oldest synagogue in Western Canada'
Social Sharing Police are investigating an incident involving antisemitic graffiti at a Victoria synagogue that a rabbi says has left the congregation in shock. The incident at Congregation Emanu-El Synagogue, a place of worship that has stood at the corner of Blanshard and Pandora in the city's downtown since 1863, has drawn condemnations from politicians, Jewish groups and the synagogue's rabbi. Photos on social media show a message handwritten in black, capital letters scrawled near an entrance to the synagogue. "It was really a message of real hate," Rabbi Harry Brechner said on Wednesday, recalling what was written. "That they would get their revenge; they were calling us evil and baby killers and all of that kind of stuff. It was pretty harsh." Victoria police say they were called to the synagogue on Saturday. Brechner said a congregant found the message next to a set of doors during a busy day, with worship services and a bar mitzvah. The police department said in a statement said its officers then "documented the graffiti, collected evidence, and then worked with [the] City of Victoria to have it removed." They are encouraging anyone with information about it to contact them. Politicians decry message The graffiti drew rebukes from politicians like Victoria Mayor Marianne Alto, Public Safety Minister Nina Kreiger and Premier David Eby. "I am saddened and disappointed to hear of the racist and antisemitic graffiti that was left on the Congregation Emanu-El building this weekend," Alto's statement read. According to the Jewish Federation of Greater Vancouver, 62 per cent of Jewish British Columbians have experienced at least one antisemitic incident since the Hamas Oct. 7, 2023, attack on southern Israel. "Even things between the pro-Palestinian demonstrators and the synagogue, they've been really cordial. People have been pretty respectful. So this sort of changed that," he said.
