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  • Writer's pictureLucas Friesen

Market Summary: February 1, 2024

The TSX gained 97.33 points today, wiping out about half of yesterday’s losses.


Rogers Communications Inc. earned $849-million with revenue of $19.3-billion in 2023. The company earned $1.68-billion with revenue of $15.39-billion in 2022. Rogers’s assets/liabilities increased to $69.28-billion from $55.65-billion, year over year. The company had $800-million in cash and equivalents at the end of 2023, a decrease from $13.3-billion, which it had at the end of 2022. The company has a market cap of approximately $33.5-billion, with a dual-share structure.


Open Text Corp. earned $37.73-million (U.S.) with revenue of $1.53-billion (U.S.) in its fiscal Q2 2024 compared with earning $258.52-million (U.S.) with revenue of $897.44-million (U.S.) in the fiscal Q2 2023. At the end of fiscal Q2 2024, the company has $1-billion (U.S.), down from $2.82-billion (U.S.), which it had at the end of fiscal Q2 2023. The company has a market cap of $16.05-billion.


Waste Connections Inc. has closed its acquisition of Secure Energy Services Inc.’s portfolio of 30 energy waste treatment and disposal facilities in Western Canada. The company paid $1.07-billion for the acquisition. The company acquired the properties through its subsidiary, R360 Environmental Solutions Canada Inc. The company expects to have annual revenue of $300-million from the acquired properties. The company has a market cap of $54.62-billion. Secure Energy has a market cap of $2.98-billion.


Canada Goose Holdings Inc. earned $131.4-milllion with revenue of $609.9-million in fiscal Q3 2024. The company earned $137.5-million with revenue of $576.7-million in fiscal Q3 2023. On December 31, 2023, the company had $154.3-million in cash, down from $344.2-million, which it had on January 1, 2023. The company has a market cap of $821.95-million.


Cineplex Inc. has closed its sale of Player One Amusement Group to OpenGate Capital for $155-million in cash. Player One will continue to supply and service amusement games at Cineplex theatres. The company will use the proceeds to pay its credit facility. Cineplex has a market cap of $517.75-million.


Real Matters Inc. lost $3.6-million (U.S.) with revenue of $35.4-million (U.S.) in fiscal Q1 2024. The company lost $4.6-million (U.S.) with revenue of $38.2-million (U.S.) in fiscal Q1 2023. The company had been improving quarter over quarter in fiscal 2023. However, this fiscal Q1 result knocks out nearly all progress made during the fiscal 2023 quarters. Real Matters has a market cap of $474.88-million.


Westbridge Renewable Energy Corp. has signed on for two new projects: the Gierre and NM solar projects in Italy. Gierre will produce 32 megawatts of solar-photovoltaic energy and NM will produce 30 megawatts of energy. Westbridge has a market cap of $92.3-million.


Sagen MI Canada Inc. earned $511.74-million with insurance revenue of $730.21-million in 2023. The company earned $421.03-million with insurance revenue of $656.24-million in 2022. As of December 31, 2023, the company has $451.74-million in cash and equivalents, an increase from $256.59-million, which it had on December 31, 2022. The company has a market cap of $78.12-million.


Indigo Books & Music Inc. has received an offer from Trilogy Retail Holdings Inc. and Trilogy Investments LP to acquire all Indigo shares at $2.25 per share in cash. This values Indigo at approximately $62.24-million. The Trilogy companies are controlled by Gerald Schwartz, a member of Indigo’s board, and they own 16.77 million (60.63%) of the company’s shares. If the “privatization proposal” is accepted, it will be subject to shareholder approval. Indigo has a market cap of $40.11-million.


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